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translation is avaialable if you go through google translate spanish to english although translation is not exact .I pulled ruling from Spanish court doc and this is what I got....
Spanish to English translation
The Supreme Court issued the final verdict on the case involving a Nevada Mining Company, a subsidiary of Barrick Gold in Chile, and mining engineer Rodolfo García Villas because both are involved in a dispute over ownership of 8 000 600 acres surrounding the controversial mining project located in the Huasco Valley. The verdict delivered on 28 November returned to square the process begun in the 14th Civil Court of Santiago, where Judge Maria Isabel Reyes judge ruled in favor of particular laughable considering the transfer of all hectares for the small gold project value of 10 thousand dollars. Given this, Minera Nevada appealed to the Court of Appeals, accusing Mary Queen of not having the powers to rule on hearing that there was judge and First Officer of the court, Ulises Eagle Bar, for hindering the process. These developments were welcomed by the Court of Appeal, who dismissed on appeal the judge's powers and ruled that "the judge had failed Reyes lack of competition." For this reason, then came at the behest of the Supreme Court, who contested the ruling of the Court of Appeals, eliminating the phrase "lacking", as the Supreme restored the rights of the judge in sentencing in the case Role 1912 - 01. However, as contemplated disciplinary action against Mary Reyes, which is written censure. Meanwhile, in the case of Ulysses Eagle full Supreme Court applied strict sanctions because it considered that hindered the first instance trial by failing to carry out two red tape, fees that were "accredited convincingly, is not sufficient allegations or defenses put forward by (Eagle) to distort the facts and have a body or serious enough to warrant the application of disciplinary action ... (leaving) the dismissal declared void by the Court of Appeals of Santiago, "the ruling said. Thus, Ulises Barra was sentenced to suspension from duty for one month leave with half pay. In addition, the high court ordered the records be sent to the Public Ministry, as in the course of the investigation made a complaint against Eagle so that their punishment can be much stronger. All this means that the trial that pits the transnational Villar back to square one, so you will have to start at the 14 Civil Court of Santiago. Finally, accessed the communications officer of Barrick in Atacama, Patricio Pinto, he said the company's policy not to address the issue, but said that the land does not affect the development of Pascua Lama because they are only surrounding the mine
I don't know why it would be going up other than positive speculation on the Chile SAGA.
What is it we say buy on speculation sell on news!!!!!!
I wonder what credibility this company will have in the market if and when they have any real positive news to put forward.
Will the upper end of the marketplayers buy into this story rather doubtful........
I also wunder what the Fitzgerald deal is now that Tronox is exiting BK is there anything left in this one it has only been 12 years what is the rush right!!!
Oh and by the way we need more posters here doing DD and general adds.......
I have had my hands in this penny stock cookie jar for a little while now.
The only motivation I have other than the obvious speculative profit potential is the hopeful ass kicking of the fraudulent, greedy,entitled ones.
I have been in business for more than 35 years and always believed in that what goes around comes around. Keep to your knitting and you will always know from where your destiny will come.
Not likely the best strategy for greedy growth and adoring shareholders as well as pats on the ass from Board members but sleep comes easy.
From what I have seen and heard The Chileans do not want Barrick there at all see ProtestBarrick web site. Therefore there will no settlement with Barrick in Chile while Nevada is another story....
Lopehandia being Chilean may get minning rights and use his gravity system instead of Cyanide leaching, will take a lot to finance but the world now knows there is gold in them dar hills.........
Pascua Lama not in production for Barrick therefore not listed with producing mines... as far as the environmental text this is all old news we need some new news to keep this going.
My question is if the Chilean Supreme court has made a ruling asigning the rights to Mina Paswa to Mr. Lopehandia why can this not be published or made generally public information?
What is the reason this has not been done or can be done?
Is there a block on this rulling and if so what is it and why???
Anyone.... Bueller...Bueller........Bueller
Dates to this stock have no bearing whatsoever. There have been so many start stops and I mean false starts and dead end stops that we have to be real optimistics to have any credibility in this one, but once in a very,very minute instance,the fairygodmother comes a calling. This may be one of those times as long as MWR's fairygodmother isn't totally lame.
My projection may be for some time between now and year end that would be 2010 by the way.
News on Mina Paswa as well as Fitzgerald.
time will tell my friend time will tell,
But don't bet the whole farm on it................
Tronox still has binding agreement with MWR on the case regardless of the case file/trial being vacated relative to the fraud/trial launched.........
Again stock is held by long time family of this unit no selling only waiting ,,,,,, story good,,,,, news out,,,, gains considered.
That is why they requested vote on 400,000,000 issuance of shares based on news of dramatic porportions.
You may want to consider a settlement of $ 1,000,000,000.00 or so
by late December 2010.........
MWR resource stock for the most part is held by folks who have been holders for a long time waiting for something; anything to happen.This stock has really had nothing to offer other than speculation of litigation successes. Not really a great calling card unless you are a gambler of sort.
Therefore it is my thought that with the outlook of anything positive happening no one is selling.
If the story is believable only newbies or brave investors are buying in at these levels.
The possibilities regarding the Chilean saga are astonishing as well as the Fitzgerald action in Nevada.
At this point I am at a loss to understand why that has not had more news...... I believe it may have something to do with timing relative to Tronox BK situation...
Tronox court date Nov 17th for Judge Gropper to rule on Exit Plan.
We should get some news thereafter although it may some time later in order to add confusion for the crooks in the Know......
As farv as I know the Action against Fitgerald Estate is still ongoing..........................
I only hope I may be still around to witness the outcome.
Well like another poster indicated the fat lady is on her way to the opera so "LES JEUX SONT FAIT" little reason to discuss the way the outcome will be played. So the board had done what the intended purpose and was closed out.
It will be the EC deciding our position relative to what our share values will be worth and what FUTUR recoveries will be guaranteed by warrants to current shareholders since disclosures can not or will not be made at this time
For those still remotely interested looks like MWR will be making a name change in the next couple of months to Mountainstar I believe.
There should be news coming out at or about the same time where we will perhaps finaly get some ligit answers regarding the Tronox/Fitzgerald fraud case.
This legal action has had serious time to gestate (over 10 years I believe) therefore it is my contention that anything that takes this long to reach fruition will be resolved to the benefit of both parties Tronox and MWR or whatever they will call themselves. If it has not already had an agreed settlement to be anounced when time or legalities permit.
$$$ involved who knows when all is said and done.
This stock is dead money until we get closer to court dates. It would be purely speculative if a rise occurs based on current actual valuations.
anyone have any insight on permitting for mine project in Argentina?
Would be nice for share value if we could get some positive data on this I know PAA want to get all going but politically there are many outstanding issues.
I am sure that Barrick is covered with many clauses of Force Majeur etc to protect themselves and likely SLW would need Barrick's silver elsewhere to cover their general silver inputs.
This pascua lama ruling would have a dramatic effect on a very many aspects of the overall market if it has true basis.
One has to wonder why Bill C-30 did not gain any traction in legislation. Perhaps new rules will come forth with the intent of protecting the average investor who is incredulous for the most part in the legitamacy of the markets in general.....greed greed greed......may all come to pass.
Anyone know why this has gone private or by invite only??
Was it because there was bigining to be too much fluff with newbies on this site......??
Quality of post has been different than what was here some time ago,,,, to bad......
https://www.blogger.com/blogin.g?blogspotURL=http%3A%2F%2Ftronoxequity.blogspot.com%2F2010%2F05%2Ftronox-valuation-letter.html
I do not mean to rain on anyone's parade here.
I was a shareholder of over 10,000 units and sold when I became aware of the possibility that Barrick may have title issues to Pascua Lama in CHile.
If Barrick looses or rather it is proven that the acquisition was not legal, Silver Wheaton would loose the Silver Stream from Pascua Lama....what effect would this have on Share Value.........there should be an announcement before year end,,,, see MWR and Tronox boards for more insight or go to ProtestBarrick web site..........
I would still like to know how Cox Legoy were paid off??
MWR has no money and what they are able to raise by diluting share value has or is going in to the Chile deal with Lopehandia against Barrick as well as the Juneau project, no cash for their legal team. I would think these people amassed a fairly sustantial legal bill with payoff coming frome the proceeds of the settlement .... who paid them or were they paid to go away???
anyone!!!!!!!!!
If MWR haven't already done so they should be talking to the EC chairman of Tronox and dealing relative to disclosures regarding the 50% stake Tronox has in Fitzgerald fraud case.
If Tronox is looking to conceal the real value of this case then the EC needs to be talking to MWR directly.
Likely this has been the case because it makes too much sense and is too simple.
Unless an agreement has already taken place and all parties are apprised of the conditions and valuation.
Right Barrick??????? er I meant Tronox.
Re Tronox's 50% of proceeds in Fitzgerald fraud......
If TRonox had a binding agreement with MWR in the pursuit
of this case how could they make a side deal in a settlement of this size away from MWR and would not Fitzgerald's Estate
as well as Tronox be required to disclose any settlement to Judge Poloha's court in Neveda?
I know litigation in US is dirtier than my friday night undies but nevertheless there must be minimalist rules involved.
With companies like Barrick looking through this maze of negativity, the dollars involved are very significant.
to what lenghts would they go ...... likely very very very far!!!
The sixty five day wait you mention is this relating to a name change in the company itself? and why would this matter unless the new effort against Fitzgerald is being taken by new name or some other cost saving measure going forward?
Why do you think that is?
If there is value for one why not for the other. Who is finacing this MWR venture in legal costs??
see other post bt Grand Puba
Tibby, the Fitzgerald lawsuit and Barrick, Tronox and Tronox's Financial Bankruptcy Advisor Rothschild Inc. have one thing in common. Barricks board director Nathaniel P. Rothschild.
Collusion between Barrick and Tronox thanks to the Rothschild's seems a real possibility. As of right now Tronox is backing out of the Fitzgerald lawsuit under suspicious circumstances.
If anyone is looking to invest on the Fitzgerald lawsuit then Mountain-West Resources (MWR - Venture Exchange) is the place to be. Interestingly Mountain-West Resources looks to also benefit in the lawsuits in Chile against Barrick over the Pascua Lama gold mine.
If what you say has merrit and MWR persues the claim against Fitzgerald and succeeds, would there not be reprocussions and litigation against Tronox et al?
Tronox was instrumental in launching this case from the beginning..where was Rothchild then ??? or did they get involved when BK proceedings began??
Maupin Cox and Legoy the legal team for Tronox were Paid how ????
Did Tronox pay them off to make them go away? What's the deal here..
If case has no merrit why would MWR keep persuing??
Seems to me that if Tronox has undertaken some sort of shady deal to make this claim disapear there would be negative reprocussions unless a settlement was made with the Fitzgerald estate and Barrick was agreed to stay whole as a result of the agreement.
If a settlement has been reached would Tronox not have the obligation to make known now or prior to Nov 17th hearing ??
This information would need to be known by Court and judge Gropper... NOOOO???
Did anyone attend their scheduled meeting of the 27th?
If yes what was discussed relative to Neveda case????
Tronox litigation against The Estate of Fitzgerald is ongoing.
The case file was vacated due to a performance issue with Tronox's legal team.They have been released and and another legal team has been engaged by the parties. Mountain West Resources who are also involved with this case state that the proceedings are ongoing and likely Barrick Gold is also involved. MWR have a legal issue ongoing with Barrick in other jurisdictions of substantial importance relative to possibilities of the final decisions.
What I am stating here is that the fraud case is by no means dead and gone but still very much alive and well.
It has always been my contention that a settlement is necessary prior to Tronox coming out of BK.
Perhaps this is where we are now...................
see info regarding Neveda litigation and Tronox.
Mountain-West arranges $90,000 private placement
2010-10-21 16:36 PT - News Release
Mr. Brent Johnson reports
PRIVATE PLACEMENT FINANCING AND CORPORATE UPDATE
Mountain-West Resources Inc. has arranged a non-brokered private placement financing to raise an aggregate of approximately $90,000. The Company is selling a total of approximately 312,000 units at a price of
.29 per unit. Each unit is comprised of one share and one share purchase warrant with each warrant having a term of two years and exercisable during the first year at
.35 and during the second year at
.50. No finder's fee will be paid on the private placement.
Mountain-West Resources Inc. has arranged a non-brokered private placement financing to raise an aggregate of approximately $90,000. The Company is selling a total of approximately 312,000 units at a price of
.29 per unit. Each unit is comprised of one share and one share purchase warrant with each warrant having a term of two years and exercisable during the first year at
.35 and during the second year at
.50. No finder's fee will be paid on the private placement.
All securities issued under the private placement will be subject to a four month hold period.
The private placement is subject to the approval of the TSX Venture Exchange.
ACQUISITION OF OPTION AGREEMENT JUNEAU, ALASKA
The Company is pleased to announce that it has agreed to enter into a formal option agreement with AMEx Mining (Alaska Metal Extraction) of Juneau, Alaska.
Under this agreement, the Company has the right to participate in the study, design and operation of a gravity, recovery system, designed to process over 1000 cubic yards/day, so as to satisfy removal of the heavy metals, which are known to exist in and upon the subject property, so as to provide clean fill material, such that will accommodate the construction of a Harbor and related infrastructure for the benefit of the City and Borough of Juneau, Alaska.
This work is all being done under the Environmental Assessment provision of a Lease agreement by & between the City and Borough of Juneau, Alaska and the Juneau Port Development LLC, Juneau, Alaska, which was recorded on December 10, 2007, for the purpose of constructing a Harbor and related infrastructures, for the benefit of the City & Borough of Juneau, Alaska and its citizens, at no cost to the City and Borough of Juneau, Alaska. AMEx Mining has negotiated an agreement with the Juneau Port Development LLC to handle all environmental assessment activities and material reclamation, as required by the Juneau Port Development LLC Lease with the City and Borough of Juneau, Alaska.
Before the mine waste sand material can be moved and placed behind the Harbor containment wall, it must be cleaned of all of the old car parts, boat parts, rusty iron, lead bullets, lead birdshot B-B's, burnt battery plates and burnt tire weights etc., with the material being moved, in excess of 1000 cubic yards/day.
Mountain-West Resources Inc., under the effort of Brent Johnson, its President, in conjunction and through negotiation with Howard Lockwood, of Juneau, Alaska, Owner of AMEx Mining, has developed an agreement, supporting this clean-up effort, by advancing working capital money, secured by Promissory 10% Notes. It is agreed that all assay information and geological data acquired by AMEx Mining be made available to each party. This agreement between Mountain-West and AMEx Mining carries the option of Mountain-West either (a) collecting on the notes, thus terminating any further interest in the project, or, (b) Mountain-West continuing to advance all those funds required to place the property into production and then AMEx and Mountain-West entering into a Joint Venture and sharing in the net proceeds of production on a 50/50 basis and further, Mountain-West would also be re-paid from the proceeds of production, all its capital contributions to put the project into production at a rate to be agreed by AMEx and Mountain-West, failing such agreement the rate would be 20%.
In conjunction with this effort, AMEx Mining and Mountain-West have developed a gravity separation system to accommodate the above, which will also isolate and remove the incidental precious metals contained in the old AJ Mine waste tailings; gold, silver, lead and zinc, as an investment incentive to this environmental clean-up.
The City and Borough of Juneau, Alaska Lease allows for the disposal and sale of the recovery of any incidental precious metals, as provided under Alaska Statutes AS 38.05.175 thru 38.05.295.
The Joint Venture between Mountain-West Resources Inc. and AMEx Mining will be an LLC, licensed in the State of Alaska, named AMEx Environmental LLC and will specialize in the environmental clean-up and reclamation, for public use, of other old tide-water mining sights, located in Southeast Alaska, as selected. The Company just borrowed US$300,000 from a private US individual and has advanced all of those funds to AMEx Mining as partial payment under the property option agreement. The Company has agreed to pay a fee of US$700,000 to that individual in lieu of interest and other charges. The US$700,000 fee is to be paid from production from the Juneau, Alaska Project.
NEVADA, USA LITIGATION
The Company announces that on April 9, 2008 Tronox Worldwide LLC (the successor in interest to Kerr-McGee Corporation) ("Kerr-McGee") commenced legal proceedings in the Second Judicial Court of the State of Nevada, in the County of Washoe against Michael J. Fitzgerald, the former president and co-founder of our Mountain-West Resources Inc (the "Company"). Fitzgerald died on August 9, 2009. The legal proceedings are continuing against the estate of Mr. Fitzgerald. Some depositions (similar to Examinations for Discovery) have been held but no trial has been held. A trial is scheduled for mid 2011.
The Company had entered into an agreement dated April 7, 2008 with Tronox pursuant to which the Company agreed to fund all of the costs of the litigation in return for a 50% share of the "net proceeds" of any recovery from the Defendant, with net proceeds being the gross sums recovered or collected after deduction of attorney fees and other costs and expenses. Initially the Company had entered into a contingency fee arrangement with its trial lawyers but that agreement was terminated, as were the trial lawyers and the Company has engaged new trial lawyers.
The legal proceedings claim that in November 1962 H.W Ranspot and W.R. Loring, both geologists working for Atlas Corporation ("Atlas") filed some mining claims (the "Polaris Claims") on behalf of Atlas. These Polaris Claims were at the center of the mine currently known as the Goldstrike Mine currently owned by Barrick Gold Corporation (see www.barrick.com ). Mr. Ranspot was the primary person responsible for all of the gold claims in Nevada for Atlas.
Mr. Fitzgerald was employed by Kerr-McGee in Nevada during the period 1963 to 1969 where he was second in charge of exploration for the western US under Fred Groth. Fitzgerald and Groth were responsible for filing more than 60 gold claims for Kerr-McGee during the period 1963 to 1969. All of these claims were adjacent to or part of the Goldstrike claims in the Carlin Trend and they were quit-claimed to Newmont Mining in April of 1969. It is claimed that they were quit-claimed to Newmont Mining at the instance of Fitzgerald without advising Kerr- McGee of their true value, in contravention of his duty of loyalty and fiduciary responsibility to Kerr-McGee.
The Polaris Claims expired and became available for relocating in August 1966. In about 1966 Fitzgerald took control of the Polaris Claims without advising Kerr-McGee of their true value, in breach of his duty owed to Kerr-McGee.
In September 1975, Fitzgerald files 16 mining claims (the "SJ Claims") which claims overlaid the Polaris Claims.
In 1979, Fitzgerald sold the SJ Claims to Western States Minerals Corporation and reserved a royalty on all production from those claims for both himself and Harry Ranspot.
Tronox is claiming punitive damages for breach of breach of loyalty owed to Kerr-McGee, damages for fraud for failing to disclose the business opportunity involving the Polaris Claims to Kerr-McGee and fraudulently concealing a material fact and failing to disclose the true value of the mining claims which were adjacent to or part of the Goldstrike claims in the Carlin Trend, punitive damages, unjust enrichment, an accounting for all profits, gains and benefits obtained by Fitzgerald as a result of his breaches of duties and obligations, tracing and other consequential equitable orders, a declaration of constructive trust in favor of Tronox for all profits, gains and benefits obtained by Fitzgerald as a consequence of his breaches of duties and obligations and all costs and attorneys' fees incurred in the prosecution of the action as an element of special damages.
CHILE PROSPECTS
On or about February of 2010, the Company advanced funds to Jorge Lopehandia for several purposes. The main purpose was to explore the possibility of recovering part or all of the Pascua Lama gold Project currently held by Barrick Gold Corporation (see www.barrick.com ). Mr. Lopehandia is involved in legal proceedings in Santiago, Chile and claims to be the holder of the beneficial title to Mina Pascua. Mina Pascua represents approximately 85 percent or more of the Pascua Lama ore body. Please note that there is no guarantee that Mr. Lopehandia will be successful in his litigation and, accordingly, there is no guarantee that the Company will be able to acquire any interest in the Pascua Lama Project.
The secondary objective of the advances to Mr. Lopehandia has been to acquire information on properties of merit in Chile. The Company will make an announcement if or when it enters into any agreement.
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=ABX&t=NYSE&m=28739251&l=0&pd=1&r=0
No mention as to how Tronox vacated their position?????
Looks like MWR is going against Fitzgerald on their own with new legal team.
Cox and group maybe paid off by Barrick or somehow compromised???
No statement from EC or Tronox ????
What would happen down the road if MWR were successful in litigation against Fitzgerald's estate as well as Barrick Gold and Tronox had no claim to recovery???
Personally I think Tronox management at present have a total agenda which excludes any benefit to past and current shareholders and is in keeping with business dealings with public companies in the US.
Will be interesting to see where this current management team ends up when and If Tronox exits Bankruptcy....
If you are not an insider you loose..........
The case against Fitzgerald has been dismissed as of today.
A settlement has been reached between the parties involved.
Likely more parties involved than Tronox and Fitzgerald's Estate and the legal teams.
If there is anything left it should add value to the valuation of Tronox by a substantial amount and if the door has not been closed on the settlement;action against Barrick Gold could add to the overall claims in time. All parties in this one have large skeletons in the closet......Dirty ...Dirty.. closets
Where is the public result on this one and why is it being kept from the shareholders and all stakeholders??????????
The case against Fitgerald has likely come to a settlement.
Now we see how the vote takes shape.
With this news pending how could a shareholder vote for the debtors plan ???????????
I do not have the slightest notion of moneys involved but I would say substantial to have THE EC group waiting in the background for results of vote on the plan.
I do not know why information (regarding the settlement of case) has been subdued on this but I am ready to bet the farm that there is some backroom deals going on with the fat hogs...... ooops I meant legal teams from both sides.
I still can not understand that a settlement has been agreed to that this info is kept from the financial evaluation of Tronox.
Legal issues or dirty dealings ???
Fitzgerald's Estate dropped the legal claim on damages because a settlement has been reached....... my view.
Ya Ulmant you are correct it is time to wait patiently.........
It would be of the utmost interest to see how the agreement on the claims extension to March 2011 is written up????
What and who has rights to any extraordinary claim???
It is my contention that we will need to wait to the new year to get some idea of what the value may be. If we get a fair shake at valuation I am looking for a realistic value of $5.00 and beyond.
So we wait, get the vote,get the EPA settled out,get out of BK and then things will get interesting real interesting.
There will be some relevant news out soon on an other issue with connection to this fracas........
movie at 11:00
Yaaaaaa........... there is something going on ..... a settlement with the estate of Michael J Fitzgerald and likely Barrick Gold
This needs to be resolved in order to go forward with a clean restructuring..........all things must pass,,,,,,,,,,,
A few of you posters are incredulus regarding this but beleive me it is tentamount to a clean restructuring and the acceptance of all involved.
There has been a lot of dirty water pass under this bridge lined with fraud,deceipt,greed,avarice,all the attributes of modern day business dealings, but it is my hope that one day fairness of some minute level will somehow find its way out of this dark cold cloud.
I for one would not not accept any less than one for one transition from old Tronox to new Tronox. Or make any and all gains from the case to apply only to current shareholders of Tronox or shareholders as of restructure date, prior to issue of "New Tronox" issue shares.
Well I'm back............
As I have stated and restated all along The Case Against Fitzgerald has a lot of merrit and fundemental value to all present equity holders of Tronox stock.
I find that the extension of claims to March 31st 2011 is of paramount importance when one associates that date to the fact that the Fitzgerald case was scheduled for March 28th 2011.
Let's see equity fights for value, has court agree to extend claims to March 2011. I would very much like to see how that is written up. Again equity has two volleys of fire, one to get valuation from the status of Tronox as it is currently valued and to secure future valuation from Fitzgerald case.
Barrick Gold is very much involved in this fraud case and it is my guess that they will be part of the settlement.
Barrick are in hot water these days. There is very important rulling concerning one their major resources in Chile where they may not own that site due to fraudulent acquisition.
If this is true it will affect many situations of a grandeur which I have difficulty comprehending. Companies such as Silver Wheaton will be dragged into this as well as many others who have investments with Barrick in Chile.
I hate to be the only one who keeps bringing up the litigation in process against Micheal Fitgerald's estate as it relates to Tronox but it very important.
Although I can not substabtiate the real tangible dollar value I can project the possible valuation.
What would some or all you equity holders feel like if the EC was shut out of the restructuring process with minimal valuation placed on shares held to then be shut out of the proceeds of this case?????
As I have indicated on past posts the value of these proceedings could be very lucrative with a settlement regarding the Gold Strike properties in Nevada.
Yes Fitzgerald is dead, but his estate has been held to many millions with the state of Washinton.
Tronox et al are not interested in making any disclosure as to the validity of this case because it serves their best interest to keep it out of all proceedings.
I have held Tronox at $11.00/6.00/.36/ all the way down to .25.
This case if proven would be a boon to all holders of equity in Tronox.That is why it is imperative that the EC get the shake we all deserve because any other outcome would be out and out larcany and likely grounds for futur litigation on hiding the value of this particular case.
It would real nice if we could ask the legal firm to validate my points but we all know that is not going to happen but bet your boots the all knowing ones at Tronox know what is going on....and I am hoping so may our EC committee.
For anyone who is remotely interested here is a link to info I have been refering to regarding Tronox and a legal case involving land fraud dating back to Kerr Mcgee.
Have a listen.............. This is fairly recent.
I believe the EC will get a vote on their plan and then this case will be brought forward. No value bringing it forward until then!
info is at 9:18 minutes on conversation talking about Tronox...
http://wn.com/Steve_Davis_p1_Aug_09_2010
My best guess is settlement with Fitzgerald and Barrick forthcoming.
This would possibly add serious valuation away from all known situations as we currently know them.
EC as I always indicated would have leverage on share valuation considering a settlement or future value from court decision.
I am looking for a little insight from all you Tronox board followers.
The Fitzgerald fraud case is too quiet at this point to add to the forward outlook in Tronox PPS.
I am thinking that Tronox/creditors/debtors are suppressing any developments in order to keep PPS as well as EC plan acceptance down.
Their interests would be to quell anything positive in order to reduce the EC getting any leverage or traction from a possible settlement valuation.
The Fitzgerald case date in court is March 2011 so time is not overly relavent at this point.
My take on this would be that the EC comitty should have transparent knowledge of the status of this case.
I do not think that is the case here.
The DIP group would not want the EC having any inside data on the progression of this law suit. Much more value for them if all happens after their plan acceptance in September.
Am I wrong on this?
Would Judge Groper have any interest in encouraging the opening of the legal file (Tronox's case legal team) AS IT RELATES TO FINDINGS TO DATE?
I believe this is important enough at this point in the BK proceedings to make an important differance to the EC case if results of the fraud are leaning to the positive side.
If anyone has relavent perspective or knowledge please post.
Well well smells like,looks like, feels like parties are delaying in order to have more tangible results on the Anadarko fraud case as well as the Fitzgerald estate case.
Both of these hold so much value when you bring in BP Gulf issue as well as Barrick Gold on the later that any valuation proceedings in my view would need to have disclosure on these matters.
BIG BUCKS HERE fellow commarades.
Please feel free to comment if you wish.........
Anyone have any projections as to what will transpire on August 10th ?
Will any EC objections if any be disclosed by then.
I received confirmations of hearing and disclosure statement through my broker this week with a contact number for a Tronox hotline 866 967 0675.......
I for one would not vote in favor of this reorg plan........
At this juncture in the developments of all things,I wonder who will benefit from the proceeds of the Fitzgerald fraud suit assuming it is positive and a settlement or judgement is made in favor of Tronox. Will these proceeds be kept by creditors,US Goverment or who else??
The case needs to come to some sort of settlement soon as in a month or two. How is Barrick involved in the case? Is Barrick Gold in any way culpable of fraud as well? What are the ramifications of that in a monetary sense as it relates to Tronox and equity holders coming out of BK?
A lot questions here on who/what/where/when is liquely to benefit if anyone???????
Sure would be interested in having a little insight as to what our EC group is doing as it relates to Fitzgerald VS Tronox.
Tronox management(Robert Gibney)stated in a release they intended to come out with a new plan between July 4th and July 14th can anyone add credence to this timeline?