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