Dear Editor – Goldridge Community Investment Limited (GCIL), partners of the Gold Ridge Mining Limited (GRML) hereby warns the public and interested investors about interfering with the reopening of Gold Ridge Mining Limited.
GRML situated in Central Guadalcanal has been non-operational since April 3rd 2014 after flash floods forced previous operator St. Barbara to administer the force majeure provision stipulated under part 16 of the Mining Agreement.
The first and only gold mine in the country remain closed until St. Barbara decided to sell GRML to GCIL, a local company comprised of the landowners of Gold Ridge and downstream communities.
The mine situated about 30km south east of Honiara was the only operating mine in the Solomon Islands at the time of its closure.
The Gold Ridge mine when operational has contributed 20% of the Gross Domestic Product (GDP) of the Solomon Islands.
On the 1st of May 2014 St. Barbara sold the GRML to GCIL.
In December 2015 a Head of Agreement was signed between GCIL and AXF Resources then on 28th May 2016 both parties signed a Shareholders Deed, with AXF Resources holding 90% and GCIL 10% in the Gold Ridge Mining Limited (GRML)
GRML is fully aware of the fact that some so-called investors have been deceitfully conducting negotiations with people not associated with GCIL, but conjured or pretended to represent GCIL.
A draft Gold Ridge partnership statement issued by a LMD Mining Limited is a testimony of the deceitful negotiation.
GRML discovered that LMD Mining Ltd prepared a purported joint company statement of partnership support to restart mining operations at GRML.
The statement claimed the support is based on initial understanding reached during discussions with non GCIL associated resource owners led by a local church Pastor, LMD Mining Ltd officials and alleged financiers with regards to commitment mutually envisaged to be reached by the company, Financiers and Resource owning groups.
GCIL totally refuted any claims of proper negotiations between Gold Ridge landowners and LMD Mining Ltd. GCIL believes that negotiations are dubious and deceitful.
In doing so, GCIL would like to publicly announce that an Australian citizen who claimed to be the Director of LMD Mining Limited (SI) who has a long history of questionable dealings has been going around with deceitful intentions trying to interfere with the ownership and reopening of GRML.
This individual was formerly involved with Barramundi Gold enters with PacRim Resources to develop Bugotu Nickel Project in Solomon Islands (and becomes a subsidiary of PacRim). This individual was also a Director of PacRim in 2002.
In 2004 he was declared a bankrupt with almost $40 million in debts when he disclosed his problems to liquidators as his web of international business interests began to unravel.
In 2007 the High Court of the Solomon Islands rejected this individual’s mining license calling “untruthful”.
The court, which examined different accounts of a meeting between this individual and the country’s Mines Minister, said this individual has been shown to be “untruthful witness in earlier court proceedings in Australia”.
Then in 2014 this individual was sentenced to 6 years’ prison on 13 counts of aiding and abetting the commission of fraud (against Australian Taxation Office). Eligible to serve 2 years with 4 year;’ good behaviour bond.
Earlier that year, four of his clients were convicted of obtaining financial advantages by deception in connection with the tax schemes.
As a result of his recent deceitful dealings with non GCIL associated and unauthorized landowners, LMD Mining Limited has drafted a Share Subscription Agreement.
The fraudulent agreement contained unauthorized names purported to be representatives of GCIL.
GCIL strongly denies and disassociate any direct association with any agent, this individual and LMD Mining Limited. GCIL maintains that it has legally binding agreements with AXF Resources.
GCIL is fully aware of the fact that some government officials are also involved in dubious and deceitful activity with this individual.
It is therefore prudent that all concern authorities are hereby informed and vigilant of these fraudulent practices and such individuals with clear criminal histories.
GCIL calls on the Police, the Immigration Department and the Foreign Investment Board to quickly intervene and investigate this individual to avoid further confusion and shun any likely differences between landowning groups.
Finally, GCIL and its partner AXF Resources remain focussed and committed towards the reopening of Gold Ridge Mining Limited [GRML] as a facilitator and provider for much needed economic benefits for the country’s ailing economy.