After turning their backs on trading in metals, US-based Gerald Metals have embarked on a sinister plot to swindle what truly belongs to Timis Mining, the brainchild of Frank Timis, a company that has worked hard in helping the economy of the West African State sustain its growth potential as the fastest growing economy in sub-Saharan Africa in recent times. Timis Mining has established itself as a company that takes its corporate social responsibility very seriously. A company that is keen on giving back to the communities around which it operates. Across Africa, Community centers, health clinics, Roads, Railway lines have all been embodiments within which enshrines the philosophy of the founder and Chairman of Timis Mining, Frank Timis as a believer in giving back to the people. Timis has a reputation as a philanthropist, something you don’t find written on the front pages of Newspapers in the West that have taken turns in ridiculing this fine mining magnate after being influenced by rogue companies like Gerald Metals who are hell bent on duping him of his hard earned reputation by attempting to ruin his business empire using inept means by conspiring with corrupt state officials in Sierra Leone. Corruption has been a practice that the head of State, Dr, Ernest Bai Koroma, has done a lot to discourage, but there are a few rotten elements within his administration who are determined to continue to give him a bad name for their own selfish gains.
And it is no surprise that Gerald Metals were able to find allies who are determined to help them achieve their dubious plans to swindle Timis Mining using illegitimate means camouflaged as a genuine business strategy. But it seems luck has run out and time has finally caught up with this rogue mining entity as Newstime Africa has received potentially explosive evidence that reveals the criminal machinations of Gerald Mining as it embarks on an ill-boding agenda to rip off Timis Mining of not only their license to mine but their legitimacy as a genuine and worthy business entity and render them financially bankrupt in the process.
Documents in our possession reveal that the Minister of Mines has instructed his Director of Mines to issue a large scale mining Licence to a newly formed rogue company by Gerald Metals referred to as SL Mining Limited, an attempt to camouflage its dubious operations in the small West African State. Not only should Gerald Metals’ actions be seriously investigated, they should never be allowed to operate in a country with such draconian anti-corruption laws. and we urge the President to immediately instruct his law enforcement authority to embark on such as a legitimately operating company as Timis Mining may have become the victim of fraudulent activities.
According to the documents in our possession, subject to the issuance of a Mining License, SL Mining have been asked to provide a proposed program of Mining operations and infrastructure and a financial/business plan along with a marketing plan – all of which if legitimately provided, without including Gerald Metals’ business relationship with Timis mining would criminally implicate SL Mining, their offshoot company. If SL Mining fails to disclose this, it would then be imperative of the government to investigate their business dealings and would have no choice but to withhold the mining license granted. And this would then instigate an inevitable investigation by US authorities into the financial dealings of Gerald Metals.
It has also come to light as sources close to the seat of power confirm that Craig Dean, Chairman of Gerald Metals, has been in the country on a number of occasions and in the early part of the year spent a lot of time with corrupt officials in order to illegally and immorally induce the cancellation of the license that was held by Timis Mining’s operation in which Gerald Metals had managed to secure an 82% stake as a result of the issuance of more shares. The canceled license was given to SL Mining Ltd 4 days later after which it was revealed that the newly formed company is 100% owned by Craig Dean who happens to be Chairman of Gerald Metals. Dean has successfully had the license re-issued to himself after spending millions of dollars with the view of getting rid of the secured creditors in the sum of $ 240m and acquiring a billion dollar asset for free all with the help of some very senior and prominent actors within the government.
It is without a doubt that SL mining would never have been created without complicit by corrupt officials within government with the sole objective to enrich themselves by collecting bribes and in the process give the President and Head of State a bad name in the process. At a time when the tenure of some officials are inevitably coming to an end as Ernest Bai Koroma prepares to leave office, it is becoming more apparent why some are keen on filling their pockets before exiting their official positions. They will be exposed as the President himself have made abundantly clear, that there will be zero tolerance of corruption, which does not even exclude his close friends and relatives.
© 2017, Newstime Africa. All rights reserved. – The views expressed here are purely those of the author and not necessarily those of the publishers. – Newstime Africa content cannot be reproduced in any form – electronic or print – without prior consent of the Publishers. Copyright infringement will be pursued and perpetrators prosecuted.
73,346 total views, 3 views today