This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

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.

Mr. Harbour also claims that a group of investors, which includes former Placer Dome Inc. president Peter Tomsett, is prepared to recapitalize the company. One of the conditions would be that the company's five-member board include Mr. Tomsett and two others that he nominates. Mr. Harbour does not say exactly what role Mr. Tomsett would take on at the company, but strongly hints that he would be part of management.

BARKERVILLE GOLD MINES

Frank Callaghan

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS