B. The Hope Downs mine:
The flagship of the Hancock group of companies is, and has always been,
Hancock Prospecting Pty Ltd (“HPPL”). HPPL was incorporated on 25
November 1955 by Langley George Hancock (“Mr Hancock”) to hold and
develop all of the Hancock family’s exploration and mining prospects, interests
and royalties; the royalties having been used over many decades to explore foriron ore, acquire tenements, pay for their rental, meet expenditurecommitments of such tenements, study the tenements, seek approvals etc.,and provide staffing for all of this.The Hope Downs tenements were originally discovered by HPPL and at alltimes have been beneficially owned by HPPL. Please refer to the
letters regarding the re-
acquiring of the Hope Downs tenements. HPPL’s
dealings with government are consistent with that.The series of
ABC’s questions that follow speculate on, or are based on largely
irrelevant or superceded matters and fail to understand the fundamentals of
HPPL’s ownership of Hope Downs. They also fail to understand the hopelessly
insolvent position of HFMF and its inability to maintain or develop thetenements given its lack of money and hopelessly insolvent position.Further, the questioning fails to appreciate the funding and development of Hope Downs, and, related estoppel points and the Hope Downs Deed, of whichthe ABC has a copy, or access to it (e.g. clause 4).
1. In late 1992 you signed the state agreement with Carmen Lawrence’s
Government for the development of the Hope Downs tenements. The corporate entity named in the agreement was Hope Downs Ltd, can you confirm whether that company was held ultimately at the time by the Hancock Family Memorial Foundation or Hancock Prospecting Pty Ltd?
The Iron Ore (Hope Downs) Agreement was executed on 30 November 1992between the Honourable Carmen Mary Lawrence, Premier of the State of Western Australia, acting for and on behalf of the State, and Hope DownsLimited. The Agreement was ratified by the State via the Iron Ore (HopeDowns) Agreement Act 1992, enacted on 11 December 1992.Hope Downs Limited was incorporated on 9 September 1992 and became a
wholly owned subsidiary of Hancock Prospecting Pty Ltd (“HPPL”) on 27
November 1992, the correct owner of the tenements (please refer to letters).
2. That 1992 agreement was signed when Mr Brian Burke was working for Hancock Prospecting, did he advise you on this project?