Investors Hangout Stock Message Boards Logo
  • Mailbox
  • Favorites
  • Boards
    • The Hangout
    • NASDAQ
    • NYSE
    • OTC Markets
    • All Boards
  • Whats Hot!
    • Recent Activity
    • Most Viewed Boards
    • Most Viewed Posts
    • Most Posted
    • Most Followed
    • Top Boards
    • Newest Boards
    • Newest Members
  • Blog
    • Recent Blog Posts
    • Recently Updated
    • News
    • Stocks
    • Crypto
    • Investing
    • Business
    • Markets
    • Economy
    • Real Estate
    • Personal Finance
  • Market Movers
  • Interactive Charts
  • Login - Join Now FREE!
  1. Home ›
  2. Stock Message Boards ›
  3. Stock Boards ›
  4. Augusta Resource Corp. (AZC) Message Board

Polluted Italy site a window to Rosemont A new

Message Board Public Reply | Private Reply | Keep | Replies (0)                   Post New Msg
Edit Msg () | Previous | Next


Post# of 29
Posted On: 09/06/2012 12:32:11 AM
Avatar
Posted By: Lmcat


[b] Polluted Italy site a window to Rosemont[/b]


A new video documentary portrays a sister company of Rosemont Copper's Canadian parent as unwilling to clean up a polluted Italian gold mine site and willing to walk away from it.


"Cyanide Beach" - a film financed by Farmers Investment Co., a leading opponent of the proposed Rosemont Mine - will be shown in Tucson Thursday.


The film was made by longtime investigative reporter John Dougherty, who has been paid by FICO to investigate Rosemont Copper's parent, Augusta Resource Corp.


FICO, which grows pecan trees in Sahuarita, opposes the mine partly because of competition for water. The mine would be built in the Santa Rita Mountains southeast of Tucson. Dougherty said FICO executives Dick and Nan Walden didn't review or have input into his documentary.


Dougherty's research included trips to Sardinia, Italy, and Vancouver, British Columbia. He estimated the film's cost at $25,000.


The movie is about Sargold Resource Corp., which for several years held a 90 percent interest in a gold mine on the island of Sardinia. Sargold, based in Vancouver, had five of the same directors who now sit on the governing board of Augusta Resource Corp., Dougherty said, including Augusta President-CEO Gil Clausen and Augusta board Chairman Richard Warke. Sargold used the same street address as Augusta, which owns the Rosemont Mine site's private land.


An Augusta Resource Corp. spokeswoman denounced the film as "simply another attack by those opposed to the development of a 21st-century copper project."


"There's very little for us to say that we have not said about the continuous waves of proven false personal attacks upon Rosemont and our team by opponents," said Letitia Cornacchia, Augusta's vice president for investor relations and corporate communications.


Rosemont proposes to mine copper and not gold, and Italy has different environmental rules than the U.S. But Dougherty said Sargold's behavior is what's relevant to the Rosemont controversy. The film's trailer spells out his point: "Two communities, separated by thousands of miles, and one common problem: Canadian mining speculators."


"Sargold passed the buck along, and the end result is a bankrupt operation with an environmental mess that will be foisted upon taxpayers," Dougherty said.


Dougherty said the video shows Sargold made a bunch of business-related promises it didn't keep after buying the mine in 2003. Sargold inherited the pollution. It involved cyanide used to leach the gold from ore leaking into the ground through a tailings dam, Dougherty said.


Sargold told the Sardinian government it would not clean the pollution unless the government let it mine other Sardinia sites, Dougherty said. The government refused, and the pollution wasn't cleaned, even though Sargold had a legal obligation to do it, he said.


Sargold merged with the company Buffalo Gold in 2007, and the merged company folded in late 2008, he said. Dougherty repeatedly offered to interview Augusta officials, but they refused, he said.


Augusta spokeswoman Cornacchia called the film and Dougherty's statements "biased, misleading and inaccurate." Cornacchia, who has not seen the film, declined to elaborate, adding, "The film is based on a flawed premise - produced by one paid by a leading opponent. It is not journalism. Remember that he is the same individual who provided flawed research for a complaint that was filed with the state and was proven wrong and rejected. We will not engage a back and forth."


Cornacchia was referring to the Arizona Corporation Commission's rejection last May of a complaint, filed by mine opponents and based on Dougherty's research, that Augusta broke state law by failing to disclose a bankruptcy filed in Canada by a company of which Warke and another, former Rosemont Copper board member were officers.


In response, Dougherty noted that the ACC didn't find his research factually incorrect; it found the bankruptcy wasn't required to be disclosed in Arizona because it happened outside the U.S.


IF YOU GO


"Cyanide Beach" will be shown at 7 p.m. Thursday at Crossroads Festival Cinema, 4811 E. Grant Road. Admission is free but advance, online RSVPs are requested at http://www.investigativemedia.com/rsvp-for-au...ide-beach/


Contact reporter Tony Davis at tdavis@azstarnet.com or 806-7746.




(0)
(0)




Augusta Resource Corp. (AZC) Stock Research Links


  1.  
  2.  


  3.  
  4.  
  5.  






Investors Hangout

Home

Mailbox

Message Boards

Favorites

Whats Hot

Blog

Settings

Privacy Policy

Terms and Conditions

Disclaimer

Contact Us

Whats Hot

Recent Activity

Most Viewed Boards

Most Viewed Posts

Most Posted Boards

Most Followed

Top Boards

Newest Boards

Newest Members

Investors Hangout Message Boards

Welcome To Investors Hangout

Stock Message Boards

American Stock Exchange (AMEX)

NASDAQ Stock Exchange (NASDAQ)

New York Stock Exchange (NYSE)

Penny Stocks - (OTC)

User Boards

The Hangout

Private

Global Markets

Australian Securities Exchange (ASX)

Euronext Amsterdam (AMS)

Euronext Brussels (BRU)

Euronext Lisbon (LIS)

Euronext Paris (PAR)

Foreign Exchange (FOREX)

Hong Kong Stock Exchange (HKEX)

London Stock Exchange (LSE)

Milan Stock Exchange (MLSE)

New Zealand Exchange (NZX)

Singapore Stock Exchange (SGX)

Toronto Stock Exchange (TSX)

Contact Investors Hangout

Email Us

Follow Investors Hangout

Twitter

YouTube

Facebook

Market Data powered by QuoteMedia. Copyright © 2025. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges).
Analyst Ratings & Earnings by Zacks. RT=Real-Time, EOD=End of Day, PD=Previous Day. Terms of Use.

© 2025 Copyright Investors Hangout, LLC All Rights Reserved.

Privacy Policy |Do Not Sell My Information | Terms & Conditions | Disclaimer | Help | Contact Us