18 December 2013 (18:12 UTC-07 Tango 17 December 2013)/14 Safar 1435/27 Azar 1392/16 Jia-Zi (11th month) 4711

After a federal court judge ruled the November auction of the massive, and unused, Hoku Materials factory in Pocatello, Idaho, illegal, JH Kelly wins again.

This time JH Kelly bid $8.3 million, which is still a paltry sum when you realize the polysilicon factory is said to be worth about $700-million (but then again, JH Kelly is the one owed the money for building it). Reports say this time the federal bankruptcy court approved the auction.  However, JH Kelly has 72 hours to pay up.

There are reports by a local east Idaho TV news program (KIFI) that a local silica mining operation has made a deal to operate the factory.  Officials with Idaho based Arco Hills Silica Company (AHSC), and Nevada based JCF Funding, claim as many as one thousand jobs will be created!

However, back in August JH Kelly’s attorney said this about AHSC and JCF Funding: “It just seems difficult to conceive these people are serious if they haven’t made a written offer and haven’t engaged capable counsel.  The first thing a bankruptcy judge asks is: ‘Show me the money.’”-Ford Elsaesser

JH Kelly is also the biggest creditor to the bankrupt Hoku Materials factory, and they want their money.

There are some scandals with Arco Hills Silica Company; back in June a former CEO pled guilty to wire fraud, involving the theft of $5-million.

Also, there is court documents showing AHSC was sued by Beco Construction Company.  A “Judgment By Default” for more than $30-thousand was levied against Arco Hills Silica Company in 2004, and renewed in 2009.

“Arco Hills Silica Company is the exclusive mining and manufacturing Company for one of the world’s largest and most pure silica deposits in the world. It is presently in the early stages of development of these assets with anticipation that production will begin during 2011. This company is also actively in beginning construction on a major silicon processing plant, solar panel manufacturing and research facility and various polysilicon plants all to be located in Southeastern Idaho.”-AHSC company statement