So here’s a thing: Last week at Mines & Money London, one of the CEOs of a Canadian company attending the conference held cocaine parties in his hotel room. Also, the same CEO was probably worried about the quality of local prostitutes because he shipped in his own call girl (or “escort”, if you must) from Canada, flying her in and hosting her all on the company expense account. When hearing the story and then getting confirmation from another source this desk couldn’t help but laugh a tragic laugh, because it came just days after hearing a similar case. There once was a different CEO, a married man running a senior miner, whose idea of executive perks was to hire two hookers at a time when on visits to his company’s assets in South America, again all on the company coin. When this was discovered internally, he was quietly shown the door by the senior but since then, has had no problem whatsoever getting hired in the junior mining world. He’s currently a CEO at a Canadian junior, holds director level positions at others and those who hired him know all about the reasons for his previous departure.
Here’s another thing: While both cases are true (and in the case of the cocaine kid I even have video evidence) I’m not inclined to name the people in question. What’s the point? Nothing ever gets done and what’s more, their peers at the same executive level in other companies are either 1) the same level of scumbag who would actually admire these people and aspire to their lifestyles, or 2) enabling them by turning a permanent blind eye. Also, my sources for the above cases cannot go public because if they did, they know their professional careers would be over, stopped in their tracks by the happy club of C-suiters that decides who gets to join them at the top table. And on a personal level, there’s also the small point of how the IKN blog owner (i.e. me) then gets accused of the same type of depravity by the same CEO group in an attempt to shut me up, because I’m the only outlet around that points a few fingers. That or watching “upstanding” junior mining CEOs start whispering campaigns about my mental health, then getting the social media stars on their payroll to spread their garbage. Sorry guys, you’re the sickos, not me.
Though you may not believe it, having IKN as a source of idle gossip has never been the point of the blog. Once upon a time I thought there was a good reason to play your court jester or be the gadfly, but not any longer. After years of watching from my side of the fence as the junior world laughs at some-or-other scandal and then ignores it, just like all the other times, I’ve reached the point where I don’t care anymore because nobody else does. If, by naming the two CEOs above, something were done to clean up this cesspool of a sector there’d be reason, but nothing ever happens and the scumbags and excuses for human beings running the juniors just carry on regardless, enabled and protected by their chums, ignored by authorities both market and criminal. And no, it’s not just couple of bad apples, this goes much deeper. It’s long past time the Canadian mining industry faced up to the real reasons for its decline and why its companies are ignored. You are morally bankrupt.