Their CEO's last venture polluted tribal waters, went bankrupt, and left Canadians with a mess to clean up. And many question their financials.
GET THE FACTS
Gold mining is a hazardous and toxic business. If the mine is approved, critical compliance monitoring tasks like water discharge quality will be self-reported, which is one of many reasons why its important to understand the company behind the project.
Rise Gold is a 15 year old mining company that has never opened a mine and never made a profit. After purchasing the Mine in 2016, Rise ran afoul of local regulations while doing their initial explorations, but there's a history of violations that runs much deeper than that.
CEO Ben Mossman's last venture before joining Rise Gold, Banks Island Gold, Ltd owned the Yellow Giant Mine in British Columbia, Canada which polluted tribal waters, went bankrupt, and left Canadians with a mess to clean up.
Ben Mossman and another Banks Island executive, had legal charges filed against them personally. They were initially acquitted of the charges, but that decision was overturned. They are currently on trial in Canada on 9 federal and 20 provincial charges related to spills at the mine.
HELP US EDUCATE OTHERS
Here are some talking points that can help.
Rise Gold is a 15 year old company that has never made a profit and never opened a mine.
Rise Gold's CEO Ben Mossman's previous company polluted tribal waters, went bankrupt, and left Canadians with a mess to clean up.
A retired bankruptcy judge looked at the financials and questions whether Rise has the financial wherewithal to carry out their business plan. As of October 2021, they had roughly $400,000 in the bank.
Ben Mossman is currently facing trial again in British Columbia Canada to face personal charges related to the Banks Island disaster.
Rise Grass Valley is a subsidiary of Rise Gold.
Rise Gold has changed its name several times. They were originally incorporated in Nevada (which allowed them pursue mining interests legally in the US), but their headquarters have always been in Canada.