Investigative MEDIA

Former Rosemont Mine investor poised to gross $400 million on Arizona Mining Inc. sale

By Leave a Comment

Share

(Reprinted with permission from Rosemontminetruth.com)

Richard Warke, the former top executive of Augusta Resource Corp. which sold the proposed Rosemont copper project to Hudbay Minerals in 2014, stands to gross US$409 million in connection with the sale of another company with a proposed mining project in southeastern Arizona.

Richard Warke

Australia-based South32 has offered US$1.3 billion cash to purchase Arizona Mining Inc.’s Hermosa mine project six miles south of Patagonia. The Hermosa Project comprises the zinc-lead-silver Taylor deposit and the zinc-manganese-silver Central deposit.

South32 is Australia’s third largest mining company and already held a 17 percent share in Arizona Mining prior to making the June 15 offer. Arizona Mining’s board of directors unanimously recommended shareholders approve the sale. Warke is Arizona Mining’s executive chairman.

South32’s offer of C$6.20 a share was about 50 percent higher than Arizona Mining’s June 15 closing price on the Toronto Stock Exchange. South32’s shareholders’ approval is not required and the deal is expected to close in September, according at a joint press release issued by the two companies.

Warke controls 88 million shares of Arizona Mining according to the company’s most recent Management Information Circular filed with Canadian securities regulators. The huge windfall comes 20 years after Warke filed for personal bankruptcy in Vancouver, British Colombia during a period in which he was engulfed in financial problems including a corporate bankruptcy and several cease trade orders issued by Canadian regulators.

Warke failed to disclose the personal and corporate bankruptcies and cease trade orders in subsequent regulatory filings spanning nearly a decade, according to a complaint filed by Save the Scenic Santa Ritas, a Tucson-based conservation group, with the British Columbia Securities Commission (BCSC) and the U.S. Securities and Exchange Commission .

Warke’s personal bankruptcy filing came 9 years after he signed a settlement agreement with the BCSC on an insider trading violation. As a result of the settlement agreement, Warke remains on the BCSC website under the warning “Disciplined Persons and Investment Caution.” [Read more…]

Please Begin Yarnell Hill Fire Chapter XXVI Here

By 2,487 Comments

Share

Chapter I, Chapter II, Chapter II supplement, Chapter III, Chapter IV, Chapter V, Chapter VI, Chapter VII, Chapter VIII , Chapter IX,  Chapter X, Chapter XI, Chapter XII , Chapter XIII, Chapter XIV,  Chapter XV,  Chapter XVI, Chapter XVII, Chapter XVIII, Chapter XIX, Chapter XX, Chapter XXI, Chapter XXII, Chapter XXIII, Chapter XXIV and Chapter XXV.

Trump’s former attorney John Dowd petitioned Clinton in 2000 to pardon disgraced AZ Governor Fife Symington

By 1 Comment

Share

John Dowd, President Trump’s former lead lawyer on the Mueller investigation who is reported to have discussed presidential pardons with attorneys for Paul Manafort and Michael Flynn, has direct experience in successfully obtaining presidential pardons for embattled political figures.

In the waning weeks of the Clinton Administration, Dowd moved quickly to prepare a petition for a presidential pardon for former Arizona Governor J. Fife Symington III.

In late 2000, Symington was facing a federal retrial on bank and wire fraud charges related to his work as a commercial real estate developer prior to being elected Arizona governor in 1992. Federal prosecutors offered Symington a choice of either pleading guilty to one felony account with no prison time and paying a $60,000 fine, or stand trial on 17 charges.

Dowd had represented Symington during the initial criminal trial in 1997. The jury returned six guilty verdicts and Symington resigned as governor. He was sentenced to 30 months in prison but never spent a day behind bars. The judge allowed Symington to remain free pending an appeal.

The Ninth Circuit Court of Appeals over turned the verdicts in 1999 ruling that the trial judge improperly removed a juror that had refused to participate in deliberations while insisting that Symington was innocent of all charges.

“Throughout this investigative and prosecutive nightmare, Fife Symington has been open, candid and forthright in dealing with the allegations against him,” Dowd wrote in an affidavit attached to the pardon petition. “He conducted himself with great courage, dignity and grace in the face of public ridicule and humiliation.”

Dowd claimed that Symington “demonstrated every day his respect and support for our system of laws, notwithstanding the terrible injustice visited upon his and his family for 10 years.”

“He put the people of Arizona first by resigning his office in the face of unjust jury verdict,” Dowd wrote.

President Clinton pardoned Symington on his last day in office as prosecutors were preparing to file 17 charges.