As most of you know, our "Interim Co-CEO", Paul Parisotto, is also currently (per Noront's own web site) President and CEO of Arizona Star Resource Corp., which is wholly owned by Barrick Gold Corp. Barrick has paid settlements before for suits alleging improprieties.
Like many big companies, it is usually in Barrick's interest to settle a suit when they realize they cannot possibly win the suit and, when the evidence has been presented, will be convicted by a jury or a judge for the violations of which they have been accused.
If you want to see the latest news from tonight on Barrick's behavior (in a long tradition of similar activity), click on this link:
http://ca.news.finance.yahoo.com/s/1...
To suggest, as some do, that we are to entirely place our trust in the hands of our current directors, with no concern for their past actions, or the actions of their present or past employers, is, in my view, playing the ostrich - burying one's head in the sand so as to be unaware of potential trouble, hoping that it will not materialize if it is simply ignored.
Those who've studied the history of the people involved in current management, and the people involved in placing them into this current position (people affiliated with Aurelian and Barrick), will realize that this is another example of why shareholders should keep an eye on their directors, and be prepared to act against them, if necessary, to prevent the shepherds from killing and eating their own sheep.
Also, those who argue that Richard Nemis picked Parisotto himself should be aware that RN knew Parisotto's father and assumed (innocently, but wrongly I believe) that "like father, like son". And, therefore, the argument that RN picked the guy, and therefore he must be fine, is flawed.
Have you given serious thought as to joining with others to defeat potential harm to your investment via your directors? Like Ben Franklin once said, "We better all hang together, or we will surely hang separately."