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Message: Barrick Gold

As some of you good folks remember, I did a fair amount of research on Barrick. I was the very first person who publicly stated about 4 years ago that Barrick would never mine an oz of gold from Pascua Lama. So far, I have been proven right...

We also know that Barrick was involved with SLI. If I remember correctly, was not the Pervuian properties former Barrick properties, at one time?

Many times, me and Rick discussed the dismissal of Aaron Regent from Barrick, for no apparent reason. Initally, Aaron was to be the replacement for Peter Munk. For some strange reason it seems, Regent was let go.

What was odd at the time, and still is, was the appointment of John L. Thornton to the BOD and his quick succession to Chairman of the BOD of Barrick. John, who was from left field, as he had no prior mining experience is an ex-Goldman Sachs and HSBC guy. Peter Munk annointed John as the next CEO almost from day one on his initial appointment to the Barrick board. Munk ran Barrick as his very own kingdom, or so it seems to outsiders...

I also find it odd that renewed interest in SLI is occuring at the same time as new investigations into HSBC and Scotia Bank concerning the price fixing of Gold have been announced. What is interesting for me personally is the alleged involvement of Scotia Bank in the gold price fixing scheme as I was named in the proposed SLI lawsuits against former shareholders, one accusation is becauseI mentioned Scotia Bank's involvement in obtaining gold in South America.

Here is part of what I wrote that got me into trouble concerning Scotia Bank on the SLI SH Board in 2012.

"According to my research, Dynacor sells their gold to Scotia Bank Peru. From there, things get very interesting...

Scotia Bank is the largest gold importer to India, #1 in the world in physical gold trading and #2 in the world in precious metals trading..."

My crime according to the proposed lawsuit;

73) Further, or in the alternative, by way of inneundo the Kherson Stockhouse posts meant and were understood to mean that:

c) the plaintiffs are involved in a criminal scheme with Dynacor Mines and Scotia Bank Inc.

At this very moment folks, HSBC and Scotia Bank are being investigated by the United States DOJ and the CFTC for the possible rigging of the precious metals markets. Sometimes, what goes around, comes around.

Kherson

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Posted 20 months ago!
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The above speaks volumes about where Dynacor may have been obtaining their ore!
 
Update:
Now this in today's G&M!
I find it very interesting, but not surprising that the Tanzania government has accused Barrick of the following;

"The Africa subsidiary of Barrick Gold Corp. says it is losing more than $1-million (U.S.) in daily revenue as Tanzania extends an export ban and accuses mining companies of massive tax evasion.

Acacia Mining, majority-owned by Toronto-based Barrick, is the biggest company caught up in the growing furor over Tanzanian allegations that the miners have been misstating their gold production by a huge amount.

The controversy is part of a wave of resource nationalism across Africa, with many governments convinced they are being cheated by foreign investors as a result of misinvoicing schemes and sweetheart deals on taxes and royalties.

Barrick says it might have to revise its full-year forecasts as a result of the dispute. “In total, Acacia accounts for approximately 10 per cent of Barrick’s 2017 gold production guidance,” Barrick said in a statement.

Tanzania halted the export of gold concentrate on March 3, saying it wanted more of its gold to be processed inside the country as a way to create jobs, revenue and technology. Since then, Acacia has been trying to resolve the dispute without success.

The dispute escalated last week when Tanzanian President John Magufuli said an investigation had found evidence of Acacia “under-invoicing” the gold and other minerals in the shipping containers in its exports. In the same televised speech, he announced the firing of his mining minister and the chief of the state-run mineral audit agency as a result of the investigation by the presidential committee.

Acacia strongly denies any wrongdoing, noting that its production and finances are audited to international standards by independent auditors."

Does anyone see a pattern here? I do!

Stay tuned folks!

Kherson

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