Step down, Mr. Beament!

Bill Beament

Bill Beament’s appointment as Northern Star’s Executive Chairman in November 2017 has raised eyebrows and caused criticisms from proxy advisers and shareholders, who think that executive chairpersons should not have an executive role with the company. Did Northern Star’s board of directors make an unwise decision to appoint an opportunistic leader with the Executive Chairman title?  More to Beament than meets the eye There is more to Beament’s seemingly upstanding reputation than meets the eye. He projects a ‘squeaky clean’ persona in the public eye and keeps mum about his…

Investors to dump shares if Beament sells down further

Bill Beament

Bill Beament has been selling down his holdings in Northern Star Resources since 2018. He has made major insider share sales since last year, selling 2,460,000 shares in the Perth-based gold miner, as reported in a Change of Director’s Notice on March 2019. Insiders and investors became uneasy because of the insider share sales in Northern Star, but Beament was quick to assure that there will be no further sell downs.  Beament may have deceived some investors to think that he would not be selling more of his shares, but…

Bill Beament’s Northern Star arguably reaps unjust profits

Bill Beament

Bill Beament’s Northern Star has arguably been reaping unjust profits through their own mining contractor, Northern Star Mining Services.  In 2016, Barminco secured a three-year mining contract worth A$275 million at the Kundana gold mines from the East Kundana Joint Venture. However, due to the questionable appointment of Northern Star Mining Services (NSMS) for the EKJV mining project, Barminco’s mining contract at Kundana was terminated.  Bill Beament’s ill-advised decision to replace Barminco with NSMS as EKJV’s mining contractor, led to self-performing, which was in the best interest of the company.…

Is Bill Beament running at a significant loss with Pogo Mine?

Bill Beament

Northern Star Resources’ Executive Chairman, Bill Beament, has been urging investors to be patient with Northern Star’s US$260 million Pogo gold operation because he claims that its turnaround is almost complete. Is it even worth the wait despite its negative results in the March quarter? Should the investors take Beament’s word for it and take the chance? With Beament’s questionable motives and tactics, investing further may not be worth the risk. Beament’s Northern Star purchased the Alaskan mine from Japan’s Sumitomo Corp in August last year with the hopes that…

Bill Beament quietly pursues Bogatá office. Really?

Why on earth would Bill Beament spend his time on anything else other than advancing Northern Star’s interests? The rumours keep running that Bill Beament and some colourful associates are meeting in dark corners to avoid detection as they plot their new ventures. Gold has been Bill Beament’s strength and it may be his undoing if he does not deliver as an executive, who was reported in Northern Star’s 2018 Annual Report to have received $2,183,000 in the FY2018. Failed marriages, family court settlements, and share sell downs all point…

Bill Beament is lucky Trump uncertainty increases gold prices

Northern Star’s so-called “squeaky clean” reputation and apparent increased profits as a gold miner appear to be attributed to the economic situation in the U.S. The appointment of Donald Trump as the President of the U.S. in 2016 has been a positive thing for gold prices globally. Even Northern Star’s Executive Chairman, Bill Beament, expressed that gold prices will grow if Donald Trump successfully seizes the Presidential seat in the White House. Gold mining companies are also aware that under Trump’s administration, the economy will surely be volatile, which results…

Beament’s down and dirty tactics

Bill Beament finds underground work very challenging and literally likes to get his hands dirty. He appears to be ruthlessly competitive and can be overly aggressive in achieving things. Beament would do whatever it takes to get what he wants. Isn’t offering Tribune Resources and Rand Mining a $150 million bid for their 49% share for the stake in the East Kundana joint venture project an opportunistic move from Northern Star? Tribune and Rand seem to think so. The offer of Bill Beament’s gold miner significantly undervalued their joint partners,…

Northern Star’s risky rapid expansion

Bill Beament’s Northern Star Resources appears to be on the roll, and we just don’t know if it’s uphill or downhill. The Perth-based gold miner has been expanding their Australian mining operations by purchasing shares or assets of gold mining companies, gaining full control of their mining operations. Northern Star’s acquired assets The gold miner’s assets include established gold mining operations in Australia and Alaska. The gold miner operates Jundee, Kalgoorlie (including Kanowna Belle, Kundana, and South Kalgoorlie), Tanami, and Pogo Operations. Northern Star’s Assets Acquired from Month & Year…

Terminating Barminco as East Kundana’s mining contractor — a despotic call from Northern Star’s Bill Beament?

Back in March 2016, Barminco, a leading hard-rock underground mining contractor, secured a three-year A$275 million contract at the Kundana gold mines from the East Kundana Joint Venture in the Eastern Goldfields, WA. It was the company’s largest contract. As far as expectations and responsibilities are concerned, Barminco provided the whole shebang of underground Australian mining operations which include development, production, bogging, maintenance, haulage, and operation of underground services. The company also offered to employ all existing EKJV staff and was very pleased to secure a major contract in support…