Friday, December 7, 2012

Long Knives out for J. Frank Callaghan

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+.)