It is rumoured that Bill Beament used corporate mercenaries to destabilise his minority partners, Rand Mining (RND) and Tribune Resources (TBR), on the East Kundana Joint Venture (EKJV). Market insiders and experts have seen right through Beament’s facade. Behind the “squeaky clean” image of Northern Star’s (NST) Executive Chairman, is an opportunistic tyrant who would do everything in his power to get what he wants.
Watch this space as we continue to dive deeper into alleged claims that –
Rumours that Beament used corporate mercenaries to destabilise his minority partners RND & TBR on the East Kundana Joint Venture
If it wasn’t for the EKJV acquisition, NST wouldn’t be the company it is today as that joint venture has historically contributed a bit less than a third of the company’s lowest-cost ounces.
In 2018, the EKJV contributed to 28% of NST’s lowest-cost production. Rumours are Beament used corporate mercenaries to destabilise RND and TBR and then followed up with a $150 million offer for their 49% stake in the EKJV. Beament said not long ago that this offer was a ‘fair and sensible value’ for that asset.
If that was the case, it makes you think about NST’s value today. We are forecasting a massive price plunge in NST once the market realises the falling resources and increasing costs in NST’s assets outside of the EKJV.
This oppressive conduct will lead to litigation alleging Northern Star’s breach of fiduciary duties, misleading and deceptive conduct, and a litany of other claims
‘Lawyering Up’ is the only way forward. Under oath, the mercenaries bond will break as they seek to sell each other out for their own greedy purposes.
As the rumours grow these stories will develop further…