Bellevue Gold Ltd V.BGL

To Lose or Not to Lose

[polish63]

Blurr, You may have read some of my posts about BGL on the Smartinvestment thread over the past several years. I posted on this site out of respect for coach247( Mexico Mike) who is very tight with the BGL Board. That being said, IF there is a resolution of this matter in Mexico it may not come for YEARS. The "strategy of Barnett should be painfully obvious even to the thick headed" legal team" that is handling this matter-bleed BGL finacially. I do not criticize them lightly. I am a retired attorney myself and I tried a lot of big cases. Not only that, I was a Trial Judge in a Circuit Court at the end of my career. In 2008, I talked with management and opined that they should sue GB in Arizona as that is what the agreement specified if ANY dispute arose between the parties. ( I read the agreement in its entirety). I even would have found them an attorney in Arizona!! My former secretary's son was a lawyer there. I knew him from when he was a child and I know he would have done it himself or found someone to kick the crap out of Barnett in Arizona. How do I know that?? Barnett was disbarred in Arizona for doing almost the same thing to a former client/ partner of his. DO you think that ANY judge would believe a disbarred attorney in this type of action? NOT a CHANCE! Our "legal team" said the proper venue was in Old Mexico. Well they were wrong and even filed in the wrong court to boot. When the Amparo court said so on Sept 30, 2010, our "legal team" said that the Amparo Court had "misinterpreted the dispute". This is like telling an umpire that he is blind after he called you out on strikes. IMO real foolish to say something like that in a strange court in a strange country. So here we are almost one year later and we have nary a word about even having a hearing in the new court.Once we have a hearing, if ever, the losing party can always appeal to at least one and maybe 2 higher courts. When someone says we may have a resolution in the next month or two- just ask them what this is based on. Barnett apparently is representing himself in Mexico now. His "costs" are next to nothing to do so. Our costs?? Management won't even estimate it at this time although at last report the figure was closing in on $100,000 for this "legal team". Remember it was Barnett who convinced the Amparo that BGL tried this case in the wrong court and made monkeys out of our "legal team". He may be crazy( I was told that he suffers from a bi-polar disorder) but he apparently paid attention in Law School. I own more than 100,000 shares with a cost basis close to a dollar. Thankfully I own a lot of cheap GCU, CS and SLW shares and these stocks have made the loss I will likely take in BGL tolerable. I would love to see BGL come out on top - but that will not occur for a long time if ever.. Barnett knows that without Cinco Minas, BGL has nothing and probably can not raise money without super dilution of the stock-so he will stall, stall, and stall some more. Even if we win, where does the money come from to buy out Barnett's 40% interest, train the workers,upgrade the infrastructure, and expand the resource base there etc,? I would LOVE to be proven wrong but......... Polish63