Tuesday, July 29, 2014

J.Frank Toasted, finally - BGM.v

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.

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBGM-2197237&symbol=BGM®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."

Read more at http://www.stockhouse.com/companies/bullboard/v.bgm/barkerville-gold-mines-ltd#IJwsiExTToptZxCL.99
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Barkerville Resolves Shareholder Petition respecting AGM and Pours Gold Bar

"Vancouver, BC -- Barkerville Gold Mines Ltd. ("Barkerville" or the "Company") wishes to announce that the parties have recently reached an agreement (the "Agreement") to resolve the previously filed petition (the "Petition") in the Supreme Court of British Columbia ..."

1. the Company's Meeting for the year 2012 will be held at 1500 -- 1055 West Georgia Street, Vancouver, British Columbia, at 10:00 am on Tuesday, April 16, 2013, as previously called by the Company, in accordance with all applicable laws."
J. Frank thought it best to semi-cooperate with the naysayers whilst throwing a bone to the howling wolves in the form of a gold bar that for damn sure cost far more to produce than its worth. Thats what we call Venture promotion 101 and anything less from a man with the pedigree of J. Frank would be disappointing. Take a bow Sir ... arsesome poohery. (And do we know of another Venture DitzBag that OUGHT to be taking notes?)

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Mr. Callaghan's severely hornet stung pee pee got some more bad news yesterday as major stakeholders are lining up with the massive unmitigated cajones to demand a, gasp, AGM.

"Barkerville Gold Mines Ltd. and its president, Frank Callaghan, are facing an action in the Supreme Court of British Columbia from a shareholder who wants the company to hold its annual general meeting and wants to install three new directors. Rex Harbour, who owns 7.1 million Barkerville shares, says the company has not held an AGM since Aug. 26, 2011. He says that the meeting is long overdue, especially given the company's precarious financial condition, and he is asking the courts to compel the company to hold the AGM."

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aBGM-2023322&symbol=BGM®ion=C
J. Frank best be treading carefully because the opposition includes former Placer Dome Inc. president Mr. Peter Tomsett.

Story on the side is the fact J. Frank recently dug into his piggy bank to finance (through a debenture - Hardy Har) the rush to produce a REAL 43-101. On the other hand we have the opposition saying J. Frank has "received $7-million in compensation over the past 18 months, either directly or through a drilling company he controls".

(Forget 18 months, J. Frank's drilling company has been grossly and ridiculously profitable for 20 years+.)