Since the scamster Stares brothers bought in their useful idiot Allan Barry (zero qualifications for being a CEO but people who sell their soul don’t fret over details) to head up Alset Minerals (ION.v), now re-named to fool another batch of sheep with their plans to sell ferts in Mexico (my stars!), the stock price has exhibited a classic Vancouver pump and dump pattern:
- BS news release
- Immediate pop on volume
- Immediate drop back
- Lather rinse repeat (though the repeats tend to suffer from the law of diminishing returns)
This three month price chart of ION.v has the lowdown:
Back in early March (oh! PDAC time! Hoodathunkit!?!) they found encouraging rocks. Nice. Early April the stock price moved hard because of the earth-shattering news that they’d been awarded permits (gotta laugh, considering the only other alternative). On April 4th the move was due to the company changing its name. Etc etc and now yesterday, when ION.v informed us they’d drilled (barely, holes lost early) into the brine salar and found brine! Something we already knew was there (the idiot Barry falsely claimed in his NR that the prospect had never been drilled before; it has and brine was found back then too) but notably they want to move the stock before even bothering to assay samples and find out how much/little interesting stuff is contained in the solution.
But there’s one other thing that sticks out about this scam stock, that’s denoted by those two thin red lines. On March 27th ION.v announced a $520,000 (i.e. small) placement round with the share units priced at 13c (they came with 20c warrants too). Then just a few days ago ION.v closed the placement at $369,000 gross proceeds raised. So these jokers are telling me that ION.v trades notably above 13c for weeks on end since March 27 and does many millions of shares in volume, but they can’t fill a measley $520k placement due to lack of outside interest? That’s one big red flag right there, the clear signal of an insider manipulated stock price.
UPDATE: The über-thinskinned front behind this rip-off, Allan Barry, sure has a lot of free time on his hands. We note today as is nearly always the case, he’s flapping his gums and wasting bandwidth over at CEO.ca. Here’s what he has to say about your humble scribe this morning:
Silly boy, Allan. For one thing you can’t be taken seriously when using phrases like “pro tip” because you are not a pro. You’re not a geologist, not an engineer, not a lawyer, not anyone with a reasonable professional background or qualification to run a serious mining company. Being a professional lip-flapper only qualifies you for running scam juniors. For another, you don’t even understand what the word “troll” means. For another, “Oh noooo! I’m a CEO and somebody said nasty things about me!” Comes with the territory, little boy. Grow up.
But the real one is at the end, that utter stupidity about drilling, because if you did have half a brain about explorecos you’d know that drilling selectively and then cherrypicking unrealistic results in order to pump a stock is exactly what scams like yours do. All the time. Run along now, get back to your everso everso busy CEO’s desk.
