IKN

Win us with honest trifles

Mich Resources: The need to know

One thing we’ve learned about the people at Sandstorm (SAND) (SSL.to) in the last couple of years…

…is how they’ve been busy feathering their nests with personal side deals, which goes a long way to explaining why their company has under-performed against other royalty/streamers (and the general market, as seen above). This desk notes with a wry grin how long-suffering shareholders of SAND are now raising their voices and complaining about the lack of new deals around the mothership, meanwhile and behind their backs the brave boys (no girls) inside SAND have had their hands on a veritable mountain of new projects, companies and IPOs. It’s not as if they’ve made a difference to the real world of mining, either; all Nolan, Dave, Keith & Company have managed so far is a string of junior exploreco pump and dumps, for example the debacle around Pucara Gold (TORO.v) last year.

Which leads us into the next sly and sneaky SAND sidebar gig, as Mich Resources (MICH.cse) has finally moved from the LOI level, closed its deal with the Pembrook gang (ECU.v, Brian Booth etc) and is finally off and running. Mich will be all about promoting and marketing your money into its low grade (0.34% Cu) copper asset located in…yes, surprise surprise, once again their get-rich-quick plans are centred around land in Peru. However, this time Pecoy isn’t an Awram Scam, instead this private deal has taken the time and effort of SAND chair George Darling (who just picked up 6.4m shares of MICH.cse as a finder’s fee….nice work if you can get it). A pity he doesn’t care about the company that pays his fat cash salary as much as his side deals.

So, here are a few confident predictions:

  • MICH.cse is about to be pumped to the naive masses by Jamie Keech
  • They’ll market it as “another Zafranal”, even though the Teck resource is a far more advanced and geologically more straightforward project with lower cost profile.
  • The promo will start well, then a sudden a raft of sales will hit the stock price and “leave the company scratching its head” as to who might be behind all that volume and selling.
  • George Darling will buy a Ferrari in 2023

2 Comments

    Just pigs feeding at the trough.

    Reply

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.