The BCSC had to do something to get Sliver Wheaties out of the big bad box so they structured a silver delivery from Barrick's other mines to compensate for the $625,000.00 royalty fees.These silver deliveries had a timing problem where Barrick was not in position to deliver any metals from Pascua Lama to Sliver Wheaties to meet the terms. Rather than create a problem where Barrick would have to repay Sliver Wheaties with interest they came up with a very credible alternative.
The real problem here is Sliver Wheaties backstopped Barrick by stating in their public releases Barrick owned the troubled Tesoros properties and our little pals over at Barrick have ALWAYS contended they owned all claims to support the project to completion.
Sliver Wheaties had been advised by MSX JL that Barrick did not own the claims contended.SLW WPM jumped into the fray with the BCSC and here we are today!
call for further information on the fraud call:
Andy Lloyd Senior Vice President Communications Tel: +1 416 307-7414 Email: alloyd@barrick.com
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