IKN

More matter with less art

Dear exploreco CEO: Maybe you’d like to reconsider that offer for financing…

…the nice, kind brokerage man ran past your desk recently. After seeing what’s happened to Marathon Gold (MOZ.to)

and to Lion One (LIO.v)

…in the last two weeks, you won’t even have the benefit of ignorance any longer, there’s no more opportunity to throw hands up in fake surprise while exclaming how horribly horrible and nasty the capital markets are at the moment. I mean, the discounted terms of these deals are bad enough for other shareholders, but when you add in the market reaction to the financings it’s no wonder there are pitchforks being brandished. Also be clear, the unholy mess you see in those ten-day charts isn’t even half the story and you can take that literally. It’s sobering to consider in August, both these stocks were trading readily at double tonight’s closing prices and we do not refer to August 2021 either, we’re talking about last month.

The moral of this story: Do Not Feed The Animals. Only this time, the animals aren’t the ones promoting moose pasture projects that don’t stand a chance, instead we’re talking about the shylocks and thieves who insist there’s “money on the sidelines, wanting in” but won’t lift a finger until they tilt the playing field so far in their favour it converts your average hockey rink into a downhill skiing course. So my dear and esteemed CEO, if (as you’ve insisted to all and sundry for years on end) your prized flagship project is as good and robust and compelling as you say it is, you simply do not need to grab at the first wedge of cash offered by the predatory sharks. You cannot accept these rip-off deals and then claim alignment with shareholders, it’s that simple.

6 Comments

    The reason MOZ and LIO got hit so bad is the mkt thinks gold is going to $1200 and they just diluted the F out of shareholders for a mine that will not be profitable in 2yrs and will not be completed.

    The mkt cash is gonna be spent on a half built minr then wasted in gna as gold crashes.

    Reply

    con… joe, they both had a choice. If they think Gold is headed to $1200 why didn’t they do a royalty then? They got lazy period. First class to all the trade shows will do that, make you lazy.

    Reply

      Indeed. Apparently i need to apologize for defending retail. Or at least trying to, as i doubt these C-suites care much either way.

      Reply

    Is there any reason left to invest in this sector?

    Reply

    Short reports, almost always fun to watch. Would be more fun if they were updated daily not bi-weekly.
    08/15/22 LION ONE METALS LIMITED LIO TSXV Tot 2,222,881 change +610,053

    08/31/22 LION ONE METALS LIMITED LIO TSXV Tot 1,586,180 change -636,701

    09/15/22 LION ONE METALS LIMITED LIO TSXV Tot 230,782 change -1,355,398
    Looks like they covered too soon and missed out on the last 30 cents. 🙁

    Reply

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