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BCSC looking at Barkerville ex Callaghan

2015-06-30 12:22 ET - Street Wire

Also Street Wire (C-BGM) Barkerville Gold Mines Ltd

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by Mike Caswell

It appears that the B.C. Securities Commission has been investigating one of Howe Street's best-known promoters, former Barkerville Mines Ltd. chief executive officer Frank Callaghan. There are no details of what this investigation could encompass, but the BCSC cease traded in Barkerville in 2012 after the company claimed to have a massive 10.6 million ounces of gold indicated at its Cow Mountain property. The company later had to reduce the figure to 1.04 million ounces while under a BCSC cease trade order.

News of the possible investigation is contained in a tiny snippet found deep in Barkerville's annual financial results, filed on Thursday, June 25. In the notes to those statements (on page 41 of 50) the company discloses that it will reimburse its former CEO for "all the ongoing legal fees related to BCSC claims against the former CEO." The note does not say who that former CEO is, but it could only be Mr. Callaghan.

Frank Callaghan
BARKERVILLE GOLD MINES
Frank Callaghan

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this deserves someone's full attention

sounds like a job for ne'er do well hall of infamy

that guy is murder on his victims

daryl somebody or another

go get 'em tiger!

Posted by blackbird at 2015-06-30 23:49

It only confirms one more time that "directors" never bite their own (because that could backfire on them). Why should they NOT be generous with separation fees? $20,000 per month for two years is ONLY half a million Dollars and that kind of money is better off in the hands of one of their own instead of those stupid stockholders like myself who bought shares at $1.71--only to see it evaporate into Frank's pockets. Thanks half a million times.

Posted by OPA at 2015-07-09 17:10


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