Take physic, pomp

Ecometals (EC.v) bullshits the market again

Here’s a link to the latest from the BS merchants at Ecometals (EC.v) that hit the wires a couple of minutes ago, going by the snappy title of “Ecometals announces final EMP approval prior to drilling at at its Rio Zarza gold project in Ecuador”.

When you read the headline it looks like Ecometals actually has permission to drill, doesn’t it? But read on and you see that:

Ecometals Limited is pleased to announce receipt of the final approval resolution for its Environmental Management Plan and also the renewal of its Environmental Bond. This approval is the last major step ahead of consent to commence our drilling at Rio Zarza. There will now follow, in conjunction with the Ministry of Mines and the local communities within our area of influence, a Community Relations diffusion process to present and explain the project. We understand one of the major mining companies in the area completed this process earlier this month and is now waiting final permit approval from the Ministry of Mines. Since we are both dealing with the same communities, we are hopeful of a successful outcome. A contract has now been negotiated with drill contractors and site preparations and logistics have been finalised.

Now, what I suggest you do is read it while moving your lips, or maybe even read it out loud to the dog or the cat or something. They’re pleased to announce they have the final major thing they need BEFORE they get the approval of the final REALLY major thing they need! ROFL! And now they have to go through weeks and weeks, maybe months of talks with locals before they may or may not get the chance to drill! Or in other words:
This is the same company that said it’ll be all done and dusted by the end of August, remember? Of course the share price took off like a rocket on this “news” thanks to the brainless momo runners that still believe these serial BS merchants. We’ll now see the the same pump and dump as we saw last time and then the shorn sheep will blame people like me for telling them the truth.

As a total utter non-sequitur that has nothing to do with anything else in this post, why on earth did this little poker ditty just spring to mind?

If you sit at a poker table and can’t see who the patsy* is in the first 15 minutes, it’s you.


*Did i write pasty? Oh lordy, a five year old girl knows better than that

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