THE EVIDENCE AGAINST IVAN & THOM CALANDRA #1
Subject 54392
Question:
1. Can you trust IVAN Management?
2. How - (why?) did Thom Calandra miss this while he shameless pumped IVAN - the stock he personally owns?
Robert Friedland FYI appears for all intensive purposes to be and run IVAN...
abc.net.au
"Duplessis: When Galactic started out its primary property was a really worthless piece of ground in Oregon, one of the US north-western States, on which Friedland claimed a mysterious Hindu had appeared out of the mist one day, and pointed out a large, rich gold-bearing lunker to one of the geologists, as if by precognition. This stone, in Friedland mythology, became known as The Hindu Stone, and based upon this, and prospects that this would be a very rich gold mine, the Warner Mine was the main focus at the beginning of Galactic; it acquired some other properties in Oregon, none of which panned out to be worth much of anything. It acquired a property in Alaska, or interest in a property in Alaska called the Yacobie Island on which Friedland claimed it had metals worth over $600-million US, and a number of projects went in and out between the '82 period and 1984, when it finally settled on the property which was to become its real claim to fame and its claim to infamy, which was a piece of ground, on the top of a Mountain in Colorado, which was known as the Summitville property or site.
And there Friedland and his company constructed a heap leach cyanide mining operation, whereby you crush the stones and you spray cyanide over top of these rocks to leach out the gold and this method was to supposedly make economic an ore body that a major mining company, Anaconda, had dropped and rejected as being not economic.
So Galactic, with the Summitville Mine, started hyping and talking about all this gold production and what it was doing, and for a period from 1985 about, to 1990, was the main centre of focus, Galactic talked up and raised millions, hundreds of millions of dollars, for this operation in Colorado, and then some subsequent properties they acquired in the Philippines and in South Carolina.
But Summitville was the beginning, and it rode the stock from as it had been pennies a share to a high of CA$36 a share, and all the way back down to pennies, and eventually into bankruptcy.
And as it was learned in the 1990s, almost the week that production began in Colorado at the Summitville Mine, cyanide began leaking from the site and polluting the surrounding environment. And by 1992, it reached such a disastrous state after six years of continuous pollution and regulatory environmental violations, that the EPA - the Environmental Protection Agency, the American Government agency - stepped in. It was declared one of the ten top toxic waste sites in North America, and they've been working to clean it up and reclaim the site ever since, at a cost of well over $US 100 million to the American people."
usdoj.gov
The settlement calls for Mr. Friedland to pay the federal government and the State of Colorado $27,750,000 over the course of the next ten years. Friedland was the president at various times of three now bankrupt corporations, Summitville Consolidated Mining Company, Inc., Galactic Resources, Inc., and Galactic Resources, Limited... |
