Sunday, June 24, 2018

Anthony Byron Billis - World's Largest Bullion Scam - 'No Balls'

Anthony Byron Billis, 'Anton' serves as the CEO and Managing Director of RAND Mining Ltd. Billis has been an Executive Director of Tribune Resources Limited since February 22, 2003 and RAND since January 22, 2003. Both are ASX listed gold producers. Are they typical? Not exactly.

The East Kundana Joint Venture (Northern Star Resources 51%, Rand and Tribune 49%) is an underground gold mining project in the Eastern Goldfields of Western Australia. The project comprises three producing underground deposits, Raleigh, Rubicon and Hornet.

Grade is high and costs are something between $ 400 to $ 600 per, meaning operations are highly profitable and have been for many, many years. And there's the rub. What happens to the gold? Something north of $250 million (nobody knows for sure) 'worth' of bullion from the two enterprises is stacked at the Perth Mint, but that gold is booked at cost not market value.

In April 2013 the twins were then trading on a PE multiple of two. At $85 million, their combined market cap was described by Anton Billis as "about right".
The 'enigmatic' Billis owns minimal stock in his own name but has controled both companies with an iron grip for over 20 years. He says unnamed and mysterious Europeans are behind Yarri Mining Ltd, Transglobal Capital, Sierra Gold, Lake Grace Exploration, and Resource Capital. There are interlocking shareholdings. Tribune owns 44% of Rand, and Rand owns 23% of Tribune, and together with the European holdings, Billis controls 57% of Tribune and some 70% of Rand.

Billis was one of three who won a record-breaking defamation suit against Terence McLernon in 2016 over claims accusing the trio of theft and corruption. Billis led one-time payday lender Oliver Douglas and former company director Paul Matich, who has just recently rejoined the BoD.
A Supreme Court writ was lodged by Billis claiming McLernon is in contempt of court and should be jailed. Shortly after that came revelations of fraud from Croatian mechanical engineer Franjo Bozic.

Bozic sought details of share dealings in Tribune and Rand by very private Seychelles company Trans Global Capital. Trans Global owns 16.9% of Tribune and 13.1% of Rand. Bozic says he is owed 1 million Tribune shares by Billis and his 'wife' Phanatchankorn Wichaikul.
Billis has had scores of legal scrapes over the years and has been raided by ASIC investigators over his dodgy dealings.