Wednesday, September 10, 2014

HDI boyos sell out Taseko Stakeholders - Update

"Florence copper miner bought out by sister company. The proposal has faced opposition from the town of Florence and some property owners and real estate developers worried about the impact on groundwater and values.
The town has been trying to condemn the FCP land and take it via eminent domain. Curis is fighting that move in the courts. An administrative law judge is expected to rule soon on mine opponents' appeal of Arizona Department of Environmental Quality permits allowing for the copper pumping process.

Maguire said the FCP is also waiting the U.S. Environmental Protection Agency to decide on an operational permit. Florence spokesman Jess Knudson said the town is still concerned about the impact of the project regardless of ownership. Town Attorney Jim Mannato said a Pinal Superior Court will hear arguments on the eminent domain condemnation fight next Monday.
Loyal followers know ALL ABOUT the offense that is Curis Resources. It's been a very predictable "go nowhere" proposition over the years. Latest is that Taseko (TKO.t) will be swallowing Curis Resources whole.

Reason for that MAY relate to the mountain of dough owed to Red Kite, butt who really knows. What we can know for certain is that existing TKO stakeholders are paying stupid large for a 100% guaranteed white elephant.
"Mr. Russell Hallbauer of Taseko reports

Russell Hallbauer

Taseko Mines Ltd. has entered into a definitive agreement whereby Taseko will acquire all the issued and outstanding common shares of Curis Resources Ltd. under a plan of arrangement pursuant to the Business Corporations Act (British Columbia). Curis's principal asset is the Florence copper project, an in situ copper recovery and solvent extraction/electrowinning (SX/EW) project located adjacent to the town of Florence in central Arizona, United States. The Florence deposit contains approximately 2.4 billion pounds of copper reserves with an average grade of 0.36 per cent total copper, contained within a measured and indicated resource of 2.8 billion pounds of copper with an average grade of 0.33 per cent TCu."
Tis been a long run of bad luck for the boyos. Pebble project toasted, Prosperty done for, and Curis, well damn, how many multi-millions gonzo is anybody's guess.

Whatever this group "achieved" years ago doesn't mean much now as the ship is fukkin holed and going straight to the bottom.

Sunday, September 7, 2014

BGM.v plumbs new lows as Sprott debt weighs heavily

"On Aug. 29, 2014, Barkerville Gold Mines Ltd. negotiated a second limited one-month extension and waiver in connection with its existing credit agreement with 2176423 Ontario Ltd., a company controlled by Eric Sprott, during which period parties will continue to review potential loan amendments that might better fit with the company's business operations going forward."

A body needed no crystal ball to predict this here particular krap-out. The long term track record of J Frank is all about what works for J Frank and we are talking generations worth of horsechit and MANY reincarnations for new suckers to swallow. The instant the equity was attacked to repay J.Franks' goofy debenture for a REAL 43-101 via Sprott debt was it.

Is paper touchable at any level? Not for this monkey. Current incarnation is pretty much 1000% doomed, which is probably the singular reason J. Frank pretended to take a hike in the first place.

The company reports, having recently received the written resignation of Frank Callaghan, that Norman Anderson, the company's current chairman, has been appointed the interim president and chief executive officer of the company. Mr. Callaghan remains a director of the company.®ion=C
J. Frank luck has finally run out, vis-a-vis the multi-year horseshoe up his hoop as he fended off those intent on offloading his hideous arse.

Damage was done via Sprott debt long ago so cry not for "poor" J. Frank.
"Interim CEO Anderson made sure to diplomatically thank Mr. Callaghan today for his "many years of selfless hard work and care . . . ." His selfless hard work last year came with a $240,000 salary, plus $1.2-million in fees charged by his private companies for exploration, deferred development, loan interest and administrative expenses. His son Sean also received $68,000 as he learned the business."


Friday, September 5, 2014

Kleargear revisited

William Franklin Bermender
Our unheroes at Kleargear have released more completely insulting rubbish ... "PARIS, Aug. 28, 2014 /PRNewswire/ -- International giftware developer, distributor and retailer Descoteaux Boutiques (DBS) has completed negotiations for the sale of its remaining retail holdings Gift World and Kleargear at 5.3 times projected 2014 EBITDA."

"In connection with the asset sale, DBS' head of North American retail operations, J. Lee Gersten, has left the company effective immediately. Under Gersten's astute leadership, DBS Retail reversed a deficit in fiscal 2006 to post a CAGR of 42.6% between 2007 and 2014, in the consumer discretionary space, during the most challenging global economy since The Great Depression."
Riiiight. The invisible phantom known as J. Lee Gersten and Kleargear are massive successes, don't be fukkin ridiculous. "Lee's success serves as a testament to his team's ingenuity, merchandising strategy and streamlined logistics," continued Monette."

Yup, finally going taters up is testament to this wicked horrid scamola all righty.

William Franklin Bermender

Stephen L. Gutman
Bottom line? William Franklin Bermender and his dead icky lawyer Mr. Stephen L. Gutman figure a dopey public rubbish show of shuttering will somehow avoid the need for paying a civil judgement for fraud.

Sunday, August 31, 2014

Sino-Forest fraud hearing begins

The Ontario Securities Commission will lay out its fraud case against collapsed forestry giant Sino-Forest Corp. and some of the company’s former key executives on Tuesday, as a hearing begins on the largest corporate fraud allegations to hit Bay Street since the Bre-X gold scandal.
The high-profile proceedings are a key test for the province’s financial markets regulator, as it takes on a murky and massively complex case that involves millions of documents and a tangled web of entities in China, where Sino-Forest claimed to control $3-billion worth of timber assets.
In May of 2012, the OSC alleged the company and some of its former executives were involved in a “complex fraudulent scheme to inflate the assets and revenue of Sino-Forest,” made “materially misleading statements” and “falsified the evidence of ownership for the vast majority of its timber holdings by engaging in a deceitful documentation process.”
The scheme allegedly involved transactions between companies that Sino-Forest secretly controlled.


"The Ontario Securities Commission is formally accusing troubled Chinese timberland company Sino-Forest Corp. and several former executives of lying to investors and attempting to mislead investigators.

The regulator filed the fraud allegations on Tuesday against the company and its founder and former chief executive Allen Chan, as well as against Albert Ip, Alfred Hung, George Ho and Simon Yeung."

Some are saying this here TRE-X is missing 90% of whatever the hell it was supposed to have exactly and do the accused have two cents to rub together for a lawyer?

Rest easy there citizen ...

"Sino-Forest Corp. (TRE) insiders, including former Chief Executive Officer Allen Chan, sold C$81 million ($83 million) of shares since the end of 2006, regulatory filings show.

Chan, who stepped down Aug. 28 after the Ontario Securities Commission suspended trading in Sino-Forest, sold C$3 million of stock, the filings show. Kai Kit Poon, with whom Chan founded the tree-plantation company in 1992, sold more than C$30.1 million. Chief Financial Officer David Horsley sold C$11.2 million of shares. Simon Murray, a director and also chairman of Glencore International Plc, sold $10.8 million."

Lassoed some real big whale types with this here freakin dopey yarn and the take would make most of our Venture type criminals look like common garden pooh tossers.

So whoop dee doo. Even the bazillionaires get shorn like the rest of us now and then.

So everybody has a favourite so called "analyst", and we have loved to hate Mr. Richard Kelertas for his long running verbal stupidity from Dundee during the Tre-X scamola. Its one thing to be a paid apologist for a wicked large scam and quite another to dismiss the allegations as "complete krap" the instant they appear.

So it's Allana Potash - AAA.t where our guy lands eh? Pffft. Of course we humans are far from perfect but DAMN. This kind of wicked large dopey brain cramp is almost too much to stomach.

Before that order came down Mr. Kelertas had this to offer ...

“We are going to provide you with some information on why Muddy Waters research is a pile of crap,” said Richard Kelertas, an analyst at Dundee Capital Markets, during a conference call he held with clients on Tuesday afternoon. “We believe there’s nothing true in that report.”

"The Ontario Securities Commission has accused Ernst & Young LLP of failing to conduct a proper audit of failed forestry firm Sino-Forest Corp. In a rare move, the commission has levelled allegations against a firm’s auditors, saying Ernst & Young did not perform to “relevant industry standards” during their time as auditors between 2007 and 2012."

"The OSC issued fraud allegations against Sino-Forest and former senior executives in May. The case has not yet gone to a hearing."

This blogger identified the obvious problem early on ...

"First on the public interest radar should be the all too cozy relationship between the auditor signing off on the apparently bogus financials that everybody is relying on and a bloated BoD with more alumni from Ernst and Young LLP than keys to the executive washroom.

Thomas M. MaradinVice-President, Finance (Corporate)
Joined Sino-Forest in 2005; previously worked five years for several multi-national corporations in financial reporting and internal control, regulatory compliance and system upgrading; previously worked fifteen years for Ernst & Young LLP, providing professional services in audit, taxation, risk management, strategic and business planning.
James (Jamie) M.E. Hyde, CA, C.Dir

Director since 2004; previously Vice President, Finance and Chief Financial Officer, GSW Inc., Executive Vice President and Chief Financial Officer, Resolve Business Outsourcing Income Fund, Former Partner, Ernst & Young LLP, where he provided for 24 years a board range of professional services to public and private companies.
Garry J. West
Joined the Board in February 2011; former Partner at Ernst & Young; With 35 years of extensive financial experience including auditing, corporate restructuring, public financings and strategic planning initiatives for a number of major organizations; Director and Chair of the Audit Committee for two other TSX-listed companies; Fellow of the Ontario Institute Chartered Accountants.

Elevated heavy metals after Mine Tailings Spill

WILLIAMS LAKE, B.C. - Elevated levels of seven chemical elements have been found by B.C. government staff in the sediment near a mine tailings spill.

The Ministry of Environment says copper, iron, manganese, arsenic, silver, selenium and vanadium were found in concentrations that exceeded provincial standards during testing near the Mount Polley mine Aug. 12 and Aug. 15.
B.C. officials say sediment discharged from a tailings pond that spilled mining waste in the Cariboo region is not toxic for humans but may harm aquatic life.
The province says the sediments exceed guidelines and contaminated sites regulation standards for copper and iron.

Environment Minister Mary Polak says the area is considered contaminated under provincial regulations and the company responsible for the spill must submit a plan detailing how it will address the situation.
The chiefs in two First Nations communities in the area have said their residents don't trust the government's claims that the fish are safe, so they've opted not to harvest salmon in what would normally be the busiest time of the year.

Read more:

Thursday, August 28, 2014

CEO hit where it hurts for Doggy abuse

The CEO of a prominent catering company has been ordered to donate $100,000 and complete 1,000 hours of community service, or risk losing his job, after he was caught on camera abusing a puppy in a Vancouver condo building.

Des Hague, CEO of Centerplate, was captured on video repeatedly kicking a Doberman pinscher puppy and using a leash to jerk it around inside a downtown Vancouver elevator. The video surfaced earlier this month and prompted the U.S.-based food and beverage corporation as well as the SPCA to launch investigations.
On Wednesday, Centerplate said Hague's behaviour was "unacceptable" and noted that he has been placed on an indefinite probation.

"Any further acts of misconduct would result in immediate termination," the company said in a statement. "The company finds Mr. Hague’s personal behaviour unacceptable and outside the bounds of our high standards and expectations of all of our staff," the statement read. "We do not condone nor can we overlook the mistreatment of animals and Mr. Hague's personal misconduct."

Centerplate says the Sade foundation will be set up with Hague's money "to help support the protection and safety of animals in the city of Vancouver where the incident occurred."

Lesson to be learned? Next time one wants to heap abuse on something best leave doggies alone. Far safer to abuse a homeless person on the street and the levels of outraged public stupidity would be negligible and the savings instant. Rather than having a whooping $ 100k going to the dogs as it were, how about this organization donate food for humans in need instead?

Geezus Louiseus. Sheeple get bent completely stupid over a near worthless K9 whilst they would never think of donating their spare change to a starving panhandler in their lifetime.