IKN

Thy sin’s not accidental

Chart of the day is…..

…the gold grades reported by Gammon Gold (GAM.to) (GRS) per quarter. This is a special guest chart-of-the-day sent in by A. Person.

At what point does fraud start to get a mention here? Not only were the GAM geols and directors signing off on reserve counts (note; we’re talking 43-101 compliant proven and probable reserves here, not M+I+I resources) but the absolute number of ounces was much higher too, all at a lower gold price cut-off as well. Check out the stock price and ask yourself how it got inflated up to $12 or so.

Seriously, would people have run this up to $12 at the end of last year if they knew the truth about the grades at Ocampo? That instead of 1.3g/t in the open pit area there was less than 0.5g/t? Even in the world of scammy gold miners where this author resides and bathes, this story is a real jawdropper. OSC? Are you out there?

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