by Stockwatch Business Reporter
Mountain-West Resources Inc. has finally spoken, rewarding investors, who have been waiting to hear more about the company's efforts in Chile, with a batch of dense legal documents. One read of these documents shows amply why financing another's lawsuit is a niche business unlikely to find much of an investor following. However, for the odd few attracted to such activities, Mountain-West has much to offer, especially if warring with Barrick Gold Corp. is your preference.
For the past year, the company has been advancing money to Jorge Lopehandia in hopes he can prove he owns the Chilean half of Barrick's Pascua Lama project. Should he be successful, Mountain-West hopes to receive a piece of Pascua Lama in return.
Last week, the company issued a news release that disputed dates, courtrooms and other statements made by Barrick in a Jan. 17 Stockwatch story about Mountain-West's efforts to win a piece of Pascua Lama. Included with the release was a translated 2007 court decision and two surveyor's reports that Mountain-West says support its position. These documents can be accessed from the news release by clicking on View Original Document.
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Coming from a person who is involved in the story, it is interesting that the January 17, 2011 Stockwatch article, followed by the response from Mountain-West was greatly sidestepped by Andy Lloyd at Barrick. The main issue here is the 2006, 2007 and 2008 Judgments in Chile which give Mr. Lopehandia the claims back, have not been filed in Barrick's financial statements or with the Securities Exchange Commission. Our question to Mr. Lloyd is: "What is your response to this statement, as it is required by law to make this information public?".