As Foran Mining’s former president and chairman, and as a current Foran shareholder, I read with interest Stephen Stakiw’s article “Foran’s North Star Fails to Shine” (T.N.M., Sept. 9-15/05).
I was displeased to see that your newspaper reported that Foran had filed a statement of claim against me, alleging various breaches of duty and misappropriation of funds, without first contacting me to obtain my side of the story. Had you done so, you would have learned that I have prepared and delivered to Foran a statement of defence, categorically denying all wrongdoing. Filing of that statement of defence is pending an application that I have made to the Court of Queen’s Bench in Saskatoon to have Foran’s action against me stayed.
You also would have learned that I and my company, M’Ore Exploration Services, have commenced an arbitration proceeding against Foran, claiming monies owing pursuant to an exploration management agreement and substantial damages arising from Foran’s repudiation of that agreement. Your failure to inquire has deprived your readers of this important information.
With respect to Foran’s North Star gold project, I am on record as having urged Foran’s current management, particularly Terry and Brad Summach, to carry out further exploration work before committing Foran’s resources to the full-scale development of a mine on that property.
Stephen Masson
Flin Flon, Man.
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