InvestigativeMEDIA dismisses Rosemont’s Aug. 23 press release as unsupported diversionary tactic

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InvestigativeMEDIA stands by the documentary “Cyanide Beach” and dismisses Rosemont Copper Company’s Aug. 23 press release attempting to discredit the film as a transparent attempt to deflect the public’s attention from the serious issues raised in the documentary.

Six of the current and former board members of Augusta Resource Corp., the parent company of Rosemont Copper, also served on the board of Sargold Resource Corporation.

Sargold owned and operated a gold mine in Sardinia between 2003 and 2007. The documentary “Cyanide Beach” examines how Sargold conducted business in Sardinia and is supported by thousands of pages of documents posted on this site.

InvestigativeMEDIA urges the public and members of the media to review this information before accepting Rosemont’s mudslinging at face value.

In addition, Rosemont’s press release makes a series of false, unsupported statements.

Rosemont false statement:  The same individual who created the film also earlier this year provided flawed research for a formal complaint that was proven wrong and rejected by State agencies. 

What actually happened: A formal complaint submitted to the Arizona Corporation Commission concerned the failure of Rosemont executives to disclose in Rosemont Copper Company’s incorporation papers filed with the state of Arizona that they were on the board of directors of a company that had filed bankruptcy.

Rosemont Copper’s directors—Donald B. Clark and Richard W. Warke—served as officers of West Coast Plywood Company Ltd. that was placed into bankruptcy in Canada on July 27, 1995, on the same day these officers left the company.

The ACC did not reject the complaint because of flawed research.

The ACC decided not to act on the complaint because the agency concluded that corporate bankruptcies that occurred outside the United States do not need to be disclosed by individuals when filing incorporation papers in Arizona.

Rosemont false statement: Individuals who now serve on Augusta’s board served on the board of a company (Sargold) that, together with the Italian government, owned the Sardinian assets for a short period – from Sep 2004 – Dec 2006.

What actually happened: Sargold had an ownership stake in the mine from 2003 through 2007. Sargold purchased a 45 percent interest in Gold Mines of Sardinia on June 4, 2003. Sargold purchased the remaining 45 percent interest on June 7, 2004. The remaining 10 percent was owned by an Italian government entity.

Sargold continued to own a 90 percent interest in Gold Mines of Sardinia until October 26, 2007, when Sargold merged with Buffalo Gold, Ltd.

Rosemont false statement: “…the Italian mine referenced in the film was an ongoing mine with environmental challenges for decades.”

What actually happened: Gold Mines of Sardinia (then owned by an Australian company) began gold mining operations in Furtei, Sardinia in 1997.

© Copyright 2012 John Dougherty, All rights Reserved. Written For: Investigative MEDIA

Comments

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