After yesterday’s post on the news about iffy geol Peter George, the following mail was received by IKN Nerve Centre from reader R, an industry pro and mailpal of long-standing. Permission sought and received to publish here because it’s excellent comment, some very slight editing done to protect both innocent and guilty.
I’ll leave you with Reader R:
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Good post on Peter George.
The
puny fine ($35K) when compared to the market cap collapse of BGM, SGR
and RMX (PVG has continued to tap dance) speak to a toothless
judiciary. That he has been banned from authoring a new mineral
resource or reserve under 43-101 is simply laughable. What management
or board in their right mind would consider retaining his service? What
good is the Society of Professional Geologists
if a series of clearly substandard reports can be published over the
course of some years before the crime is even spotted, let alone held to
account?And
what of the culpability of each of the Company’s respective management,
Boards and advisers who not only accept these reports but
act on them? Is universal incompetence now considered a viable
defense? All those who were involved and in fact had their hands
deeper into the proverbial cookie jar are free to work within the sector
with impunity.
I
submit it is a scenario for the perfect white collar crime. Consider
those that have gone completely undetected such as the teams
behind (three company names redacted), to name a few.Make no mistake, there are thieves amongst us gentlemen.