Never been into Gold

28 Feb

Looking at Barrick Gold Corp at its 52 week lows might consider making a position in them.  They reported a net loss for the fourth quarter.  Usually, I do not like to invest in a company that has zero profitability.  But Barrick is a big name and stock price has been suppressed.

Could this be an opportunity to make some money?  Or could this be another Cliff Resources which I’m holding at a 50% loss now since I had hopes for it to come back out of its rut.  

I’m just thinking out loud.  All hypothetical talk.  So don’t go out on a limb and buy them.

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One Response to “Never been into Gold”

  1. Billy February 28, 2013 at 2.33 #

    2013-02-19 21:32 ET – News Release

    Mr. Brent Johnson reports

    BARRICK DOES NOT OWN CONCESSIONS AT MINA PASCUA, CHILE; TITLES HAVE BEEN ISSUED TO MR. JORGE LOPEHANDIA

    Mountainstar Gold Inc. has issued the following update to its shareholders to provide a historical summary and clarify title ownership (1996 to 2013), of Mina Pascua, Chile.

    As of February 1, 2013, the Company’s lawyer, Mr. Alan G.S. Hultman, received clean titles to the Mina Pascua, Chile, mining concessions. The Mina Pascua titles were issued by the Mines Registrar of Vallenar, signed and sealed by Vallenar’s Mines Commissioner (Conservador de Minas) Mr. Pablo Cortes Olquin, for Mr. Ricardo Olivares Pizarro on January 16, 2013. The Conservador de Minas Vallenar, is the sole person in Chile, at this date, with full legal jurisdiction over the Mina Pascua concessions, their title, and confirmation of certified domain.

    These titles were authenticated by the Ministry of Justice, and the Ministry of Foreign Affairs of Chile. They have been validated by the Canadian Embassy in Santiago, Chile.

    The Conservador de Minas, Vallenar, issued title with clean Certificado de Dominio Vigente (Current Certified Dominion), over the following Mina Pascua Project areas in Chile:

    1. Tesoros Uno 1 al 30 through to Tesoros Doce 1 al 5– Mr. Jorge Lopehandia is legal title holder as of 2013. Barrick Gold Corporation (ABX), or its Chilean subsidiaries, have never had title for these concessions. False statements from executives of Barrick’s Chilean subsidiaries, concerning these titles, have led to criminal charges being applied, accepted and enforced in Chile. Lawyers representing Barrick’s Chilean subsidiaries, at Vallenar’s 2nd Civil Court in 2012, admitted to not owning Tesoros titles or domain. This falsification of the Pascua Lama Protocol has initiated further criminal charges.

    2. Amarillos Norte (5200 hectares) and Amarillos Sur (3400 hectares)–owned since 1996 by Mr. Jorge Rodrigo Lopehandia Cortes through his mining agent Mr Villar. These Amarillos titles were in existence before the Tesoros concessions of 1997. The Tesoros titles were constituted after Minera Nevada SpA swindled Mr. Lopehandia and Mr. Villar of their existing claims. The Amarillos titles have had an injunction in place by the Supreme Court of Chile, as of June 5, 2001, showing Mr. Jorge Lopehandia Cortes as the registered title holder through to this date.

    Mr. Lopehandia was sued by Barrick Gold Corp. regarding ownership of the Amarillos concessions in Ontario, Canada 2002. Barrick won this libel case against Mr. Lopehandia with false title claims and letters of opinion. Minera Nevada SpA then used this information to attack Mr. Lopehandia in court proceedings in Vallenar in 2012, at the 2nd Civil Court, in an effort to discredit Mr. Lopehandia. This court proceeding took place to strike out the Amarillos 1-3000 titles (the salts and nitrates claims owned by Minera Nevada SpA) from the Chilean Mines Registrar.

    At this proceeding Mr. Lopehandia was able to show his Amarillos Sur and Norte titles. The judge then requested Barrick Gold Corporation (ABX), and its Chilean subsidiaries to produce the same. Barrick failed to produce the Amarillos Sur or Norte titles in its or its Chilean subsidiaries’ names.

    Amarillos Sur and Norte were validated by judicial judgment by the Supreme Court of Chile. This judgment ordered that both sectors be reconstituted at the original 1996 UTM coordinates. These claims override the ABX / Lac Minerals 1994-2013 Amarillos 1-3000 concessions (for salts and nitrates only).

    With the injunction C-1912-2013 in Mr. Jorge Lopehandia’s name, the Amarillos Sur and Norte concessions engulf and override the Tesoros claims of Hector Unda Llanos, which have now also been legally titled in Mr. Jorge Lopehandia’s name 2001-2013.

    The Tesoros concessions are inside the area of Amarillos Sur, and are considered to be the areas of greatest geological interest to Mina Pascua, Chile.

    The continuation of the assertion of Barrick Gold Corporation’s ownership of the Tesoros claims with the SEC and OSC, is misleading to the NYSE and TSX stock exchanges, and the investing public. Barrick’s filings with the SEC and OSC are fraudulent, and libel Mountainstar Gold Inc. and Mr. Jorge Rodrigo Lopehandia Cortes.

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