Richard Quesnel

Richard Quesnel (born 1955) is a Canadian entrepreneur and mining engineer,[1] currently president and chief executive officer of Colt Middle East,[2] and a member of the board of directors of Sama Resources.[3]

Richard Quesnel
Born1955 (age 67–68)
Quebec, Canada
NationalityCanadian
Alma materMcgill University (BEng)
Occupation(s)President & CEO of Colt Middle East, Director of Sama Resources

Quesnel was born in Quebec, Canada. He speaks English and French. He has a Bachelor of Science in mining engineering from Mcgill University and is a member of the Order of Engineers of Quebec.

Career

Throughout his 35-year mining career as a professional engineer and entrepreneur, Quesnel has contributed to the successful development of several large gold, copper, nickel and iron ore mining properties around the world.

In his capacity for over 5 years as president and chief executive officer of Consolidated Thompson, he was responsible for the development of Consolidated Thompson's Bloom Lake iron ore deposit which came into commercial production in early 2010,[5] three years after completion of the feasibility study.[6]

Insider trading convictions, appeal, and acquittal

According to the Autorité des marchés financiers (AMF), Quesnel purchased 30,000 shares of Consolidated Thompson-Lundmark Gold Mines Limited (now Consolidated Thompson Iron Mines Limited) on two occasions in March 2006 while in possession of undisclosed information regarding the Bloom Lake mine feasibility study.[7]

On November 17, 2010, Judge Juanita Westmorelant-Traoté of the Court of Quebec, district Montreal, found Richard Quesnel guilty of these charges. On May 6, 2011, Judge Juanita Westmorelant-Traoté of the Court of Quebec, district of Montreal, imposed $132,974 in fines against Richard Quesnel.[8]

Legal counsel advised Quesnel these judgement were erroneous in law and informed him of the compelling grounds for appeal in which Richard Quesnel intended to vigorously pursue.[9]

Richard Quesnel appealed these insider trading convictions to the Quebec Superior Court. On June 12, 2012, the Hon. Rejean F. Paul rendered judgment, granting Richard Quesnel's appeal and acquitting him of all insider trading charges.[10]

The Autorité des marchés financiers (AMF) subsequently applied to the Quebec Court of Appeal, seeking leave to appeal Richard Quesnel's acquittal. On August 15, 2012, the Hon. Jacques Dufrense of the Quebec Court of Appeal rendered judgment denying the Application for Leave. This judgement rendered, acquitted Richard Quesnel fully of all insider trading charges.[11][12]

References
  1. Regan, Keith. "Consolidated Thompson Mines". Infinity Business Media Ltd. Retrieved 24 February 2014.
  2. "MINING PEOPLE: Colt Resources, Silver Stream and Superior Copper". Retrieved 26 February 2014.
  3. "Sama Resources announces two additions to the board". Africanmining.com.
  4. "colt resources inc (P01:Frankfurt)". Bloomberg. Retrieved 24 February 2014.
  5. "Consolidated Thompson gets railway permit, inks iron-ore sales contract". Creamer Media's Mining Weekly.
  6. "Consolidated Thompson Completes Feasibility Study on Expanded". Bloomberg.
  7. "Illegal insider trading and late insider trading reports – Richard Quesnel found guilty" (PDF). Autorite des marche financiers.
  8. "Ex-Consolidated Thompson boss fined for insider trading". Mining Weekly.
  9. "Former Consolidated Thompson CEO fined for insider trading". Mining Weekly.
  10. "Quesnel c. Autorité des marchés financiers - 2012 QCCS 2697 – Cour Supérieur". SOQUIJ.
  11. "Autorité des marchés financiers c. Quesnel - 2012 QCCA 1448 – Cour D'appel". SOQUIJ.
  12. "La Cour d'appel maintient l'acquittement de Richard Quesnel". Canoe Nord-Est.


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