IKN

More matter with less art

Carpathian (CPN.to) rallies this morning…

on this news, which makes your humble scribe chuckle:

The chortles come because it’s another reminder that the junior mining stock market is populated by people who do not have the first clue as to what equity is. Today’s rally now values this company at $47m, even though it’s taking on (an undisclosed amount of) debt in order to “move forward” on its RDM project in Brazil. It’s a case of buyers of CPN.to shares stating loudly and clearly that they have no idea why companies bother to publish balance sheets every three months (it’s just a bunch of numbers, who cares?) and that even though they’ve been anally raped to the point where prolapses are not the exception but the rule in their lives they’re more than happy to stand in line and wait for some market participant to roughly insert their large and throbbing virile member into their rectums in order that they once again experience the corporal sensation.
There y’see, I did all that without one swear word. Improving or what?
Full disclosure: No position in CPN.to. You think I’m nuts?

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