children of an idle brain

Dynasty Metals & Mining (DMM.to): Hope is not a valid investment thesis

Remember back on the morning of April 27th when Dynasty Metals & Mining (DMM.to) shot higher on the announcement of a deal with local Ecuador company Green Oil S.A.?
The dumbfarks that bought into this stupid pump and shoved it to a near double in three days will now have plenty of time to repent at leisure. The news today starts with a thing about the appointment of a financial advisor to the special committee (what? they didn’t have one on there before?), goes on to tell us that the strike at the mine is still happening and then at the bottom gives us this little pearl:
Following completion of the agreement with Green Oil (see Dynasty press
release dated April 27, 2016), Dynasty was to receive a cash loan
advance from Green Oil, as per the agreement focused on the Dynasty
Goldfield property. While a portion of the cash loan advance has been
received by Dynasty, the remaining portion has been delayed by
international banking administration procedures. “While this
administrative delay has been discouraging for Dynasty, we believe the
remaining funds will be transferred shortly,” commented Dynasty CEO,
Robert Washer.
This is a good moment to remind the esteemed lectors of IKN about our First Law of Mining NRs:
The IKN First Law of Mining News Releases: Considering
that anything contained in a mining news release is presented in the
best possible way for the company in question, any piece of information
contained in a NR that comes across in any way negative means the real
news and/or events behind it must be very, very bad indeed.
IKN Repeats: Get out of this DMM dogstock before it’s to late, it’s going bankrupt.

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