Prodigy Gold Inc KXLAF

re kITCO FRAUD CHARGES...

[mellow99]

sorry...this was supposed to be attached to my last post...After discussing this article with a few Goldbugs, they most all seem to be of the view that the FDS, are up to their old tricks and are looking to close Kitco down., the only seemingly LARGE supplier of Gold etc...
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Montreal, June 9, 2011 - Contrary to Revenu Que´bec’s allegations in a press release published today, Kitco Metals Inc. (Kitco) has never participated in any tax fraud, nor has it ever carried out any fictitious transactions. In all respects, Kitco vigorously contests all aspects of Revenu Que´bec’s investigation. Mindful of protecting its irreproachable reputation, Kitco has mandated attorneys, of the law firm of Gowling Lafleur Henderson, to evaluate all available recourses with regards to the allegations of Revenu Que´bec.

Earlier today Kitco, filed and presented a motion at the Superior Court of Que´bec to have an interim receiver appointed so that it may continue its normal operations under the supervision of the accounting firm RSM Richter (Mr. Gilles Robillard, partner). This action was taken in the interest of the corporation, of its clients and of its business partners to allow for the time required to vigorously contest Revenu Que´bec’s unfounded claims. As always, Kitco will respect all of its commitments towards its clients and business partners.

Kitco buys precious metals scrap and pays the suppliers sales taxes on these purchases for which Kitco receives a tax credit. It is the responsibility of these suppliers to pay back the sales taxes to Revenu Que´bec. Revenu Que´bec alleges that some of these suppliers have not remitted the taxes paid to them. Revenu Que´bec is unjustly holding Kitco responsible for the unremitted taxes, which led to the issuance of the tax assessments.

Kitco is vigorously opposing these tax assessments. Kitco has respected all applicable laws and by-laws since the founding of the company over 30 years ago.