IKN

Well, amazingly enough I had another batch of mailers writing in from Vancouver (of all places??? hoodathunkit???) going “hahahaha, Constitution Mining is up” and saying silly things like “buy the dips” as it rose yesterday. Buy the total collapse more like, but hey…who be I to tell the scam runners and bucketshops their jobs.

I honest don’t give a damn about the scumballs that hang around plays like this, but I’d like to save maybe one or two people from actually believing their hyped up bullshit, so here’s a bit of background about CMIN.ob and a couple of other companies that have concessions of the river Marañon in exactly the same place as CMIN.ob. This time i haven’t linked up to the relevent SEC filings, but it’s all there in the open air, so go look for yourself. And by the way, if you don’t know how to search on the SEC website, you have no reason even to be looking at OB companies as possible investments. Learn about these things and save yourself some hard lesson later.

Enough preamble, let’s play “spot the coincidence” but one more thing before we go on. A typical scamster ploy is to register a company name that’s very similar to an established and reputable name. In this case, as far as I can make out “Temasek Investments Inc” of Panama has no connection to the very large and reputable “Temasek Holdings” investment fund company that is based in Asia.

Constitution Mining (CMIN.ob) is a gold exploration company that owns an option to buy in to a stretch of the river Marañon in northern Peru. It wants to dredge the sands under the river to recover the small quantities of gold that are found there. It optioned the property from Temasek Investments Inc in late 2008, a Panama based company that has a personal assistant in a law firm (Gray & Co, prop. Beth Anne Gray) as its president, a certain Marisela Simmons (Panamanian national, ID card number 8-794-2332 and whose qualifications run as far as a degree in tourism administration).

The option deal is to pay for the first 25% of the so-called gold sands property, then make payments for the second, the third and then the fourth 25% of the property in stages. CMIN.ob has revised the terms of the deal and made the second payment, but needs to find another $3m by March 31 (and 2m shares…that’s easier) to make it to stage three. It now has very little cash left for any sort of exploration work, one quarter’s worth of normal burn rate cash at bank, no assets, but somehow runs a market cap of $78m or so at present. Here’s the chart for CMIN.ob:

Riverrun Resources (RRRO.pk) is a gold exploration company that owns an option to buy in to a stretch of the river Marañon in northern Peru. It wants to dredge the sands under the river to recover the small quantities of gold that are found there. It optioned the property from Temasek Investments Inc in late 2008, a Panama based company that has a personal assistant in a law firm (Gray & Co, prop. Beth Anne Gray) as its president, a certain Marisela Simmons (Panamanian national, ID card number 8-794-2332 and whose qualifications run as far as a degree in tourism administration).

The option deal is to pay for the first 25% of the so-called gold sands property, then make payments for the second, the third and then the fourth 25% of the property in stages. The chairman of RRRO.pk is Pat Gorman, who also sits on the board of CMIN.ob. It hasn’t made the payments on time as yet. Here’s the chart for RRRO.pk:

Amazon Gold Sands (AZNG.ob) is a gold exploration company that owns an option to buy in to a stretch of the river Marañon in northern Peru. It wants to dredge the sands under the river to recover the small quantities of gold that are found there. It optioned the property from Temasek Investments Inc in late 2008, a Panama based company that has a personal assistant in a law firm (Gray & Co, prop. Beth Anne Gray) as its president, a certain Marisela Simmons (Panamanian national, ID card number 8-794-2332 and whose qualifications run as far as a degree in tourism administration).

The option deal is to pay for the first 25% of the so-called gold sands property, then make payments for the second, the third and then the fourth 25% of the property in stages. AZNG.ob shares several board members with CMIN.ob., including its CEO, Hector Ponte, who sits on the CMIN advisory board. and the CFO of CMIN who also does the books at AZNG. This company hasn’t made the options payments on time as yet, either. Here’s the chart for AZNG.ob: