Thy sin’s not accidental

Breaking news: Amazon Deep Resources (AZD.v) discovers lost city of El Dorado

An impressive news release this morning from Amazon Deep Resources (AZD.v), which has announced its discovery of the fabled lost city of El Dorado in the North Brazil Amazon basin, some 25 km from the border with Colombia. Here’s how the NR starts:

VANCOUVER , July 20, 2015 /CNW/ – Amazon Deep Resources Ltd. (AZD:TSX-V) (“the company”) is pleased to announce the confirmation of its discovery of a large depository of gold bullion and pre-Colombian treasure in the site of ruins understood to be the so-called “Lost City of El Dorado”. After preliminary reconnaissance, the company estimates that around 560m oz (five hundred and sixty million ounces) of gold and other bullion ounces are in place on site. Commenting on the discovery, CEO Roger Mellie said, “This is a great…” Continues here

In early trading, the stock is down 20% on heavy volume. Commenting on today’s market action in AZD.v, Anne Elk of Canaccord Trading told IKN, “It’s a freaking gold stock you idiot, of course it’s selling off. Where are you from, the moon or something?”


UPDATE Ten minutes later: Please people, please don’t do this.

A dozen people clicking on that link within ten minutes of this post going up (seriously, Ten. Freekin. Minutes.) shows just how naive the mining investment community really is. And then down the line you’ll be kvetching again how those nasty men running the mining exploreco ripped you off and didn’t tell you all the truth.

So please people, for your own sake, stop the stupid. It’s high time you walked away from this sector before you bet your mortgage on a niobium play that just can’t fail. Or something.

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