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Munk resigning? The shareholders are finally taking the trash out of their company. Thats the smartest thing they could do.
I wish more public company shareholders would do the same thing!!!
http://business.financialpost.com/2013/11/08/barrick-gold-indicates-peter-munk-to-step-down-as-chairman-by-next-annual-meeting/
I suppose the good news for Barrick is that the fines below will only be a bill if they pay it!!!
Tuesday, 02 April 2013 10:32
Commission fines Barrick Pascua Lama
The Commission for Environmental Assessment (CEA) Atacama again decided to fine Canadian miner Barrick Gold for another thousand tax units per month, about $ 40 million.
This, as a result of defaults on the miner incurred in monitoring plan of glaciers and meteorological data Pascua Lama Project, according to Radio Bío Bío SEREMI Atacama Environmental, Pedro Lagos.
This penalty is in addition to the previous fine of three thousand UTM ($ 120.37 million), imposed in March by abnormal water sanitation and breach of the plan devoted to the monitoring of glaciers in Pascua Lama.
Source: The Mercury
http://www.cbc.cl/index.php/en/noticias-latinoamerica/item/921-comisi%C3%B3n-multa-a-barrick-por-proyecto-pascua-lama
Who says Jorge is waiting,
Your kidding right?
I really cant comment on what's actually happening in Chile. However as you well know, nothing this extremely valuable will come to us without a fight.
That said - lets hope the fat lady is warming up her vocal cords.
Correct I believe that Barrick is claiming a quite victory since they never announced that their directors were even charged in the first place.
The article states that the directors would go to Chile from Canada on their own....highly unlikely!!!
NEW'S
Pascua Lama challenged belongings and senior executives would be open to declare Barrick in Chile
Thursday, January 10, 2013 6:02
Local businessman says he has property in the area
Yesterday the North Central Office rejected the request of the employer requesting a warrant against 13 international directors of Barrick.
?Barrick adds a new lawsuit against their binational project Pascua Lama gold (U.S. $ 8,500 million). The legal offensive runs by a person known by the company: the mining investor Lopehandia Jorge Cortes. The latter has had a lot of meetings proceedings against Canadian firm owned by subjects of certain sectors where it is located the complex.
The lawsuit, filed last December 6 at the Office of Santiago Centro Norte, is for alleged falsification of public and / or malicious use regarding mining integration protocol signed between Chile and Argentina in the government of Ricardo Lagos. Lopehandia argues that the protocol would be false, then invoke as the owner of the mining claims that are within the framework of the protocol to Barrick, not the employer, who argues that under the Mining Code of Chile, some belongings there you are. These would Treasury One 1 to 30 and 1 to 5 Twelve Treasury.
Within the research being carried out by the North Central Office, had joined an application Lopehandia lawyer, Juan Torres, who called for an international warrant in order to be submitted to state in this case in Toronto Barrick directors . However, the prosecution yesterday rejected this request, not be at the expense of the investigation is continuing. Sources familiar with the case said that one of the events that prompted the rejection of this request was that "Lopehandia data are weak and if intended, no great legal support."
?
Willing to testify?
While Barrick managers will not have to testify in Toronto, yes it could do in Santiago. Sources close to the Canadian miner said that if necessary bring executives from Canada to Chile, will bring, because their interest is declared. In fact, mining has already delivered all belongings history of the prosecution, and in parallel, Lopehandia already said, as Brent Johnson, who is one of the drivers of the Canadian junior MSX, and would have a pre-agreement Lopehandia sale purchase once it is established that the property in question will correspond.
In Barrick's hosts, are confident of their property. "Barrick has all rights necessary for the development of the Pascua Lama mine," said recently the company spokesman, Andy Lloyd, a Canadian mining weekly. These statements, which gave added Vice President of Corporate Affairs at Barrick South America, Rodrigo Jimenez,
Financial Journal
"Trust the Chilean legal system and its courts. In any case such legal action will adversely affect the extraction and processing activities planned by Barrick. We firmly believe that all pending actions involving Mr. Lopehandia and MSX without merit, and that as the Chilean legal system to rule over them, Barrick's position will prevail. " He added that "we do not intend to respond to ongoing continuous bombardment of false, inaccurate and misleading issued by Mr. Lopehandia or MSX. Barrick and will vigorously defend the due course of legal proceedings in Chile. "
?Source DF / Juan Manuel Villagran S.
http://www.df.cl/impugnan-pertenencias-de-pascua-lama-y-altos-ejecutivos-de-barrick-estarian-abiertos-a-declarar-en-chile/prontus_df/2013-01-09/212225.html
What Does Pakistan’s Ruling On Barrick Gold’s Lease Mean?
http://www.trefis.com/stock/abx/articles/161865/what-does-pakistans-ruling-on-barrick-golds-lease-mean/2013-01-08
Barrick Gold ends talks with China National Gold for sale of African unit
http://www.thestar.com/news/gta/article/1312160--barrick-gold-ends-talks-with-china-national-gold-for-sale-of-african-unit
C:ABX Barrick Gold director Rothschild resigns
Last Close 1/7/2013 $33.57
Tuesday January 08 2013 - News Release
Mr. Peter Munk reports
CHANGE TO BOARD OF DIRECTORS
Nathaniel Rothschild has resigned from the board of directors of Barrick Gold Corp., effective as of Jan. 7, 2013, due to other time commitments. Mr. Rothschild had been a director of Barrick since April, 2010.
"On behalf of the board of directors, I would like to extend my sincere gratitude to Nat for his service," said Peter Munk, founder and chairman of Barrick Gold. "We are grateful for his many contributions to the company."
© 2013 Canjex Publishing Ltd.
Pakistan’s top court on Monday declared invalid a lease for one of the world’s richest deposits of gold and copper held by a Canadian-Chilean consortium that includes Vancouver-based giant Barrick Gold Corp.
Am I the only one that picked this up? Vancouver-based giant Barrick Gold Corp.
Is Mountainstar Gold Buying out Barrick Gold? or is Barrick Gold moving their Head office to Vancouver?
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/pakistan-voids-gold-copper-lease-held-by-barrick-consortium/article6994959/
Tranches are closed in an effort to expedite the investors share certificate. It just means 10k came in and it was processed.
NCD LMAO
Yes Heap you may be correct. Another possibility Mr. Drimmer's expression is it could also be caused by the anticipation of getting the shaft.
Jonathan Drimmer, vice president and assistant general counsel at Barrick Gold Corp puts a clinic on for "corporate anti-corruption."
When you look at his picture in the article below it appears he may have a canary in his mouth.
http://www.canadianlawyermag.com/4456/small-companies-need-to-pay-heed-to-anti-corruption-matters.html
NCD
Pascua Lama: The giant with feet of clay
In the path that aims to expose the fraudulent actions of Barrick Gold Corporation in Chile, Juan Guillermo Torres Fuentealba lawyer, filed a notice on Monday, December 10, 2012 at the North Central Metropolitan Office as a background on the complaint copying of public and / or malicious use of the Protocol on Economic Integration Agreement between Chile and Argentina, called Pascua Lama.
That letter is intended that Mr. Attorney Don Jose Morales, knowingly take on a number of precautions, scope and comments made ??by the lawyer to the tenor of a copy of criminal complaint accompanied by Mr. Manuel Fumagalli-representative the crime in our country.
complaint filed by lawyer Luis Hermosilla before the 7th Santiago Court Guarantee, which provides data incomplete, while hiding omitted key information to understand the process and attacked unfairly, not so directly, but implied, Dona Maria Isabel Reyes, Secretary Head of the 17th Civil Court of Santiago.
The brief filed by Torres Fuentealba representing Lopehandia Jorge Cortes, clarifies that Barrick has never been in possession of the titles which claims to have about gold resources above, since the date of purchase contracts as of mining land had no legal status, nor were allowed to exploit other resources other than salts and nitrates, nonmetallic mineral substance.
So not having the aforementioned property, Barrick incurs a fake Pascua Lama Protocol, involving the Chilean and Argentine Government in fraud of unsuspected trim. So the project of international cooperation between the trans-Andean republics, first in world history, lacks a legal foothold.
BARRICK AGAINST Chilean judiciary
Barrick Gold Corporation, concealed key information not only in the process but also severely attacked the Chilean judiciary, by attempting to undermine the appropriateness in the case of Maria Isabel Reyes, Secretary Head of the 17th Civil Court of Santiago, accusing her of not have the legal authority to rule on disputed properties, getting only hinder the process, because the officer in question had all the power to the case and ruled adversely against crime.
All this background, only serve to demonstrate the dubious Canadian transnational proceed, showing low or no respect for the Chilean jurisdiction.
By Leonardo Robles
The Citizen
The writing can be found at this link
Tags: Barrick Gold , The Citizen , leonardo oaks , Pascua Lama
http://www.elciudadano.cl/2012/12/12/61479/proyecto-pascua-lama-el-gigante-con-los-pies-de-barro/
I'm sure that can be arranged however only if you sign him out of the institution for mentally insane.
Yes Jorge and I would also like to make a toast to Mr. Juan Guillermo Torres for the courage to step out of the comfort zone and leave the status quo to make a difference for Global Liberty. The headline says it all "Chilean Lawyer puts the brakes on gold rush!" This will be the last chance however only few will get on the train now, most will not and be left in the dust.
http://www.globallegalpost.com/global-view/chilean-lawyer-puts-the-brakes-on-gold-rush-65933192/#.UN0O7nf4I3k
We have are the real goods man...What we are dealing with is a global corporation run by a global government agenda...furthermore if this deal was taking place anywhere but Chile I would have been out long ago!!!
What is being done is the removal of the perception that Barrick owns the rights to mine the property. Once that is proven we will gain the credibility we desire so much at that point it wont matter what stock exchange we are on. Once this happens every gold bug as far as the east is from the west will run to get a piece of the action.
I have personally met JRL, seen and officially verified the Certificate of Domain that allows us full metallic mining and water rights for the Mina Pascua property.
MSX Mountainstar Gold shareholders currently own an option agreement with JRL the title holder in THE REALITY to mine the hell out of Mina Pascua
What ABX Barrick owns is THE PERCEPTION to mine the said property once they remove us out of the way.
When the time is right PERCEPTION will come to MEET reality, then we MSX shareholders will be substantially rewarded.
Now quit bashing so much its starting to look like your on Barricks payroll.
NCD
Yo Quer, don't you have anything else to barbeque other than OUR STOCK!
MOVE ALONG NOW NOTHING HERE FOR YOU ANYMORE!!!
NCD
December 18, 2012 BARRICK'S TOP SOUTH AMERICAN EXECUTIVE POINTS HIS
FINGER AT ABX CANADA EXECUTIVES FOR THE
FALSIFICATION OF THE PASCUA LAMA PROTOCOL
Mountainstar Gold Inc. (the Company) announces the following with regard to its joint
venture with Mr. Jorge Lopehandia in Chile. The following was reported by El
Ciudadano, in Chile, on December 6, 2012 from information given by the Company's
jurist, Mr. Juan Guillermo Torres.
The Company's lawyer, Juan Guillermo Torres, in Chile, filed for an international
warrant via the Fiscalia Central Norte of Santiago, to be presented to corporate
management of Barrick Gold Corporation (ABX ), accused in Chile of falsification of the
Pascua Lama Protocol, subscribed between the nations of Chile and Argentina, extending
to the misuse of the Pascua Lama Protocol in Canada and worldwide financial markets.
"The Canadian mining giant Barrick, is involved in a fictional project, to include mining
claims over which they have no title, referring to specific Tesoros concessions,"
expressed Torres.
"Mining properties," stated Torres, "were registered in the name of Don Hector Unda
Llanos and therefore belonged neither to Barrick Gold Corporation, Minera Nevada SpA,
or any of the subsidiaries of the company in our country. Similarly, the inclusion in the
Pascua Lama Protocol means a flagrant violation of the judgment given in the case
Docket No. C-1912-2001 by the 14th Civil Court of Santiago, which granted an
injunction from June 2001 to date, prohibiting the celebration of acts and contracts
regarding these same territories protecting Mina Pascua areas of Chile, namely
TESOROS UNO 1 al 30 through to TESOROS DOCE 1 al 5, superposed over titles
duly registered in 1996 as "Amarillos Sur" and "Amarillos Norte" by Chilean-Canadian
Mr. Jorge Lopehandia Cortes."
According to legal documents filed with Fiscalia Centro Norte, it was requested that
specific managers and directors of Barrick testify regarding the crime of "falsification of
public deed and / or malicious use of the International Protocol Pascua Lama." This treaty
was approved by Ricardo Lagos Escobar and authorized by Soledad Alvear, serving
President of Chile and Foreign Affairs Minister at the time, respectively.
Neither the Canadian National Stock Exchange nor the Investment Industry Regulatory Organization of Canada
(IIROC) accepts responsibility for the adequacy or accuracy of this release.
http://cnsx.ca/Storage/1504/138165_NR-Dec_18,_2012.pdf
To all: Merry Christmas and Happy Newclearyear!
Yes those "various parties contesting the project" you speak of are Jorge's partners. Their in on his 50% of the agreement. None of Mountainstar's business.
Goldpanner their are many fortune 500 companies you can invest in with great people, quality leadership, fantastic stories and rocketing sales figures. These ingredients translate into great companies that can earn you a decent return over the long term or if your timing is good the short term can prove profitable too. Unfortunately unless your Bill Gates or Warren Buffet taking a large position would be nearly impossible.
Our company is quite different if you haven't noticed yet. We traded 15,000 shares today at .34 cents. Which looked like someone moving shares from their cash into their TFSA Account. What an amazing opportunity to own a piece of one of the worlds largest gold deposits for pennies. It blows my mind how ungrateful people can be who look a gift horse in the mouth.
We have a great story, an unbelievable asset and people that well lets say the difference between them being a Zero or a Hero will be how they handle this over the finish line.
Take for example the sentence I am re quoting from the Gazette article:
With a suitable compensation package, Barrick might be able to settle out of court with some of the various parties contesting the project, if Barrick's lawyers don't prevail.
This quote among other things tell me that we are nearing the finish-line of this 48 month endurance. Other than any obvious issues that need attention in our journey why would we want to turn the spotlight away from our path?
Have a Newclearday and a good sleep too!
Andy Lloyd's twitter account address just in case there are any serial litigants out there wanting to express an opinion.
https://twitter.com/LloydSpot
Chilean lawyer puts the brakes on gold rush
http://www.globallegalpost.com/global-view/chilean-lawyer-puts-the-brakes-on-gold-rush-65933192/#.UNEFqHf4I3k
At the beginning of November, Barrick Gold's CEO, Jamie Sokalsky, announced yet another jump in the estimated capital costs of the Pascua-Lama mine, from less than $1 billion in 1997, to $3 billion in 2009, to $8 billion in July, to $8.5 billion last month - with "first gold" extracted from the Andean mine closer to the end of 2014 than to the beginning.
But, Sokalsky assured shareholders once again, Pascua-Lama is the company's "top priority."
There are, however, a number of obstacles remaining on the bumpy road to Pascua-Lama, to the delight of some and the dismay of others, from legal wrangling in Chile over the deeds to the vast, frigid territory.
Lucio Cuenca, the director of the Latin American Observatory of Environmental Conflicts (OLCA), a non-governmental organization, has been following the ups and downs of Pascua-Lama, in the courts and in Barrick's boardroom, for the last decade.
"How can there be such a huge miscalculation of costs by one of the top mining companies in the world?" Cuenca asked from his office in central Santiago. "Either they are lying, or they stand to make so much money they don't really care how much they have to invest."
Sokalsky, the new CEO, mentioned "external factors" also contributing to the soaring costs. Perhaps he was referring to the countless protests blocking access roads to Pascua-Lama that have held up construction crews, legal fees to represent Barrick in a number of ongoing court cases.
All of these costs are negligible, however, compared to what Pascua-Lama will bring once it is up and running, thanks to the incredibly low cost of producing gold at the mine, and the precious metal's high price on the market.
In fact Pascua-Lama will be one of the world's lowest-cost mines, because the sale of silver extracted as a by-product - about 665 million ounces - is expected to more than cover the cost of processing the gold. Barrick estimates that it will cost $25 to $50 to produce an ounce of gold, which closed at $1,697 on Friday.
With a suitable compensation package, Barrick might be able to settle out of court with some of the various parties contesting the project, if Barrick's lawyers don't prevail.
One man, Jorge Lope-handia, now a dual Canadian/Chilean citizen, claimed he, not Barrick, holds the deeds to the most valuable parts of the Pascua-Lama territory. Another Canadian mining company, Mountainstar Gold Inc., based in Vancouver, is financing Lopehandia's ongoing suit against the Chilean government in a Santiago court, asking it to "extinguish" the Pascua Protocol signed with Barrick in 1994.
Andy Lloyd, director of communications for Barrick Gold in Toronto, described Lopehandia as a "serial litigant."
By NewClearDay with the help of CATHERINE SOLYOM, The Gazette December 17, 2012
I have taken the liberty of highlighting the points in this article that are relevant to Mountainstar Gold shareholders. The next post I'm sending will be just these highlights in order as they appear in the article. Enjoy.
NCD
By CATHERINE SOLYOM, The Gazette December 17, 2012
At the beginning of November, Barrick Gold's CEO, Jamie Sokalsky, announced yet another jump in the estimated capital costs of the Pascua-Lama mine, from less than $1 billion in 1997, to $3 billion in 2009, to $8 billion in July, to $8.5 billion last month - with "first gold" extracted from the Andean mine closer to the end of 2014 than to the beginning.
But, Sokalsky assured shareholders once again, Pascua-Lama is the company's "top priority."
There are, however, a number of obstacles remaining on the bumpy road to Pascua-Lama, to the delight of some and the dismay of others, from legal wrangling in Chile over the deeds to the vast, frigid territory, to a Supreme Court of Argentina decision over whether any mining can take place there at all, given the presence of glaciers so close to the mine pit.
Capital costs, which may yet rise again when the company releases its year-end results in February might be the least of Barrick's worries.
Lucio Cuenca, the director of the Latin American Observatory of Environmental Conflicts (OLCA), a non-governmental organization, has been following the ups and downs of Pascua-Lama, in the courts and in Barrick's boardroom, for the last decade.
"How can there be such a huge miscalculation of costs by one of the top mining companies in the world?" Cuenca asked from his office in central Santiago. "Either they are lying, or they stand to make so much money they don't really care how much they have to invest."
Rod Jimenez, Barrick's vice-president of corporate affairs in South America, said the cost overruns and delays were due to Barrick's trying to build the mine "in-house" between two countries at high altitude and under incredibly inhospitable conditions.
"We underestimated the complexity of the engineering involved and the enormous amount of work," Jimenez said.
In July, the company fired CEO Aaron Regent, and announced it would be hiring Fluor, the engineering firm which built its controversial Pueblo Viejo mine in the Dominican Republic, to take over the construction of Pascua-Lama.
Sokalsky, the new CEO, mentioned "external factors" also contributing to the soaring costs. Perhaps he was referring to the countless protests blocking access roads to Pascua-Lama that have held up construction crews, legal fees to represent Barrick in a number of ongoing court cases, or the consultants and academics it hired to prepare, as Jimenez put it, "thousands of pages" on the environmental impact of the project.
All of these costs are negligible, however, compared to what Pascua-Lama will bring once it is up and running, thanks to the incredibly low cost of producing gold at the mine, and the precious metal's high price on the market.
In fact Pascua-Lama will be one of the world's lowest-cost mines, because the sale of silver extracted as a by-product - about 665 million ounces - is expected to more than cover the cost of processing the gold. Barrick estimates that it will cost $25 to $50 to produce an ounce of gold, which closed at $1,697 on Friday. Compare that with the cost of producing an ounce of gold at Barrick's only mine in Canada, at Hemlo near Thunder Bay, Ont. In 2011, Hemlo produced 227,000 ounces of gold at $774 per ounce.
With a suitable compensation package, Barrick might be able to settle out of court with some of the various parties contesting the project, if Barrick's lawyers don't prevail.
One man, Jorge Lope-handia, now a dual Canadian/Chilean citizen, claimed he, not Barrick, holds the deeds to the most valuable parts of the Pascua-Lama territory. Another Canadian mining company, Mountainstar Gold Inc., based in Vancouver, is financing Lopehandia's ongoing suit against the Chilean government in a Santiago court, asking it to "extinguish" the Pascua Protocol signed with Barrick in 1994.
Andy Lloyd, director of communications for Barrick Gold in Toronto, described Lopehandia as a "serial litigant."
"Barrick holds all the necessary rights for mining the Pascua-Lama deposit," Lloyd said.
Meanwhile in October, a court in Copiapó, Chile, agreed to hear a motion to halt development of Pascua-Lama from five of the 18 indigenous Diaguita Huascoal-tino communities living in Chile's Huasco Valley, which lies below the mine.
The court agreed to hear the case based on the Dia-guitas' claim to the land - Barrick's airstrip in Pascua-Lama, for instance is built on sacred land, they said - and evidence of the company's environmental impact. Three glaciers near the mine pit have shrunk by 50 to 70 per cent, and the court is also reviewing evidence it might have contaminated water resources by dumping mine wastes before the acid-drainage plant was operational.
The lawyer for the Dia-guitas, Lorenzo Soto, said the goal of the motion was to stop construction work at the site. The case will surely make it to Chile's Supreme Court, he said, but he did not exclude the possibility of seeking compensation for his clients, should the work go on as planned.
What might be harder to get around are ongoing legal battles in Argentina by stakeholders claiming Barrick is not abiding by the Glacier Protection Law, which prohibits any economic activity on or around glaciers and "peri-glacial" areas surrounding them.
The law, first passed by congress in 2008 but vetoed by president Cristina Fernán-dez de Kirchner, was reintroduced in 2010. According to Argentinian law, a president cannot veto the same law twice. But it has not been enforced in San Juan province, where Pascua-Lama and another Barrick mine, Veladero, are located. Court rulings in 2011 granted the province an injunction against the federal law. Barrick has the necessary environmental permits for Pascua-Lama from both countries, Lloyd said.
However in July, Argentina's Supreme Court removed the injunction and paved the way for the national government to begin an inventory of the glaciers around the mines, and order new environmental impact assessments.
At the time, Barrick said it would not be affected by the court ruling - and so far provincial authorities in San Juan, who support the project, have all but ignored it.
But other recent rulings in Chile and Argentina may signal a growing willingness on the part of national governments to enforce their environmental laws vis-à-vis transnational corporations.
In April, Chile's Supreme Court suspended environmental permits for the El Morro mine - also in the Huasco Valley, and owned by Canadian companies Goldcorp and New Gold - because the companies did not consult the indigenous Huascoaltino communities, in violation of Chilean law. Construction of that mine is still on hold.
Then in July, a court in La Rioja province, just north of San Juan, suspended the permit for the Cerro Famatina mine - owned by Osisko, a gold mining company based in Montreal - until an inventory of the glaciers in that province is completed.
In San Juan province, where the Pascua-Lama mine is under construction, Canada's own Extractive Sector Corporate Responsibility Counsellor - an appointee of the Canadian government charged with investigating complaints against Canadian mining companies abroad - agreed to look into accusations McEwan Mining, based in Toronto, is violating the Glacier Law at its Los Azules project. The investigation was closed, however, when McEwan withdrew from the voluntary mediation at the end of November.
csolyom@montrealgazette.com
For your reading enjoyment. The path that aims to expose the fraudulent actions of Barrick Gold Corporation in Chile, Juan Guillermo Torres Fuentealba lawyer, filed a notice on Monday, December 10, 2012 at the North Central Metropolitan Office as a background on the complaint copying of public and / or malicious use of the Protocol on Economic Integration Agreement between Chile and Argentina, called Pascua Lama.
That letter is intended that Mr. Attorney Don Jose Morales, knowingly take on a number of precautions, scope and comments made by the lawyer to the tenor of a copy of criminal complaint accompanied by Mr. Manuel Fumagalli-representative the crime in our country.
Complaint filed by lawyer Luis Hermosilla before the 7th Santiago Court Guarantee, which provides data incomplete, while hiding omitted key information to understand the process and attacked unfairly, not directly, but implied, Dona Maria Isabel Reyes, Secretary Head of the 17th Civil Court of Santiago.
The brief filed by Torres Fuentealba representing Lopehandia Jorge Cortes, clarifies that Barrick has never been in possession of the titles which claims to have about gold resources above, since the date of purchase contracts as of mining land had no legal status, nor were allowed to exploit other resources other than salts and nitrates, nonmetallic mineral substance.
So not having the aforementioned property, Barrick incurs a fake Pascua Lama Protocol, involving the Chilean and Argentine Government in fraud of unsuspected trim. So the project of international cooperation between the trans-Andean republics, first in world history, lacks a legal foothold.
BARRICK AGAINST Chilean judiciary
Barrick Gold Corporation, concealed key information not only in the process but also severely attacked the Chilean judiciary, by attempting to undermine the appropriateness in the case of Maria Isabel Reyes, Secretary Head of the 17th Civil Court of Santiago, accusing her of not have the legal authority to rule on disputed properties, getting only hinder the process, because the officer in question had all the power to the case and ruled adversely against crime.
All this background, only serve to demonstrate the dubious Canadian transnational proceed, showing low or no respect for the Chilean jurisdiction.
From a Chilean newspaper no link provided.
Have a NCD
Hey Lloyd did I hit a nerve? - short 500 shares is that the best you can do?
Date/Time Price Change Volume Buyer Seller
Dec 17, 10:19 0.315 -0.015 500 PI Financial Macquarie
At the beginning of November, Barrick Gold's CEO, Jamie Sokalsky, announced yet another jump in the estimated capital costs of the Pascua-Lama mine, from less than $1 billion in 1997, to $3 billion in 2009, to $8 billion in July, to $8.5 billion last month - with "first gold" extracted from the Andean mine closer to the end of 2014 than to the beginning.
But, Sokalsky assured shareholders once again, Pascua-Lama is the company's "top priority."
There are, however, a number of obstacles remaining on the bumpy road to Pascua-Lama, to the delight of some and the dismay of others, from legal wrangling in Chile over the deeds to the vast, frigid territory, to a Supreme Court of Argentina decision over whether any mining can take place there at all, given the presence of glaciers so close to the mine pit.
Capital costs, which may yet rise again when the company releases its year-end results in February might be the least of Barrick's worries.
Lucio Cuenca, the director of the Latin American Observatory of Environmental Conflicts (OLCA), a non-governmental organization, has been following the ups and downs of Pascua-Lama, in the courts and in Barrick's boardroom, for the last decade.
"How can there be such a huge miscalculation of costs by one of the top mining companies in the world?" Cuenca asked from his office in central Santiago. "Either they are lying, or they stand to make so much money they don't really care how much they have to invest."
Rod Jimenez, Barrick's vice-president of corporate affairs in South America, said the cost overruns and delays were due to Barrick's trying to build the mine "in-house" between two countries at high altitude and under incredibly inhospitable conditions.
"We underestimated the complexity of the engineering involved and the enormous amount of work," Jimenez said.
http://www.montrealgazette.com/touch/story.html?id=7703080
One man, Jorge Lope-handia, now a dual Canadian/Chilean citizen, claimed he, not Barrick, holds the deeds to the most valuable parts of the Pascua-Lama territory. Another Canadian mining company, Mountainstar Gold Inc., based in Vancouver, is financing Lopehandia's ongoing suit against the Chilean government in a Santiago court, asking it to "extinguish" the Pascua Protocol signed with Barrick in 1994.
http://www.montrealgazette.com/touch/story.html?id=7703080
Andy Lloyd, director of communications for Barrick Gold in Toronto, described Lopehandia as a "serial litigant."
"Barrick holds all the necessary rights for mining the Pascua-Lama deposit," Lloyd said.
A few question's Mr. Lloyd.
Why isn't Barrick mining it then?
Why is it still considered a project on your books?
Having a little problem getting a mining permit (since 1997)?
Like the Rolling Stones said "you cant always get what you want."
Have a NewClearDay!
Mr Andy Lloyd with soon be known as the abused red-headed step child of the global mining industry. No disrespect to any red-headed step children.
I would say the chances are very good to excellent. Remember we have all the evidence of Barrick's fraud. Barrick is totally on the defensive. Further Barrick's ex directors are running scared at the moment.
Notice how the article headline reads:
New legal action against Barrick over Pascua Lama protocol
Come on Country is this really NEW to anyone hanging on this board?
NCD
New legal action against Barrick over Pascua Lama protocol
"This may not be the beginning of the end, but just the end of the beginning."
www.miningweekly.com/article/new-legal-action-against-barrick-over-pascua-lama-protocol-2012-12-13
NCD
You would still have no cents.