IKN

Take physic, pomp

Trading Post (smell the coffee edition)

Gold Reserve (GRZ) up 20% at U$0.73. The shareholders in this stock make me laugh. GRZ sinks to nowhere in five trading days once Rusoro’s hostile bid is taken off the table. Now today Rusoro and Endeavour go back to the courtroom to try and revive the possibility of bidding and GRZ zooms…AND THE SHAREHOLDERS STAY LOYAL TO BELANGER!!! Look…let’s make this as plain as possible, people. The current management is clearly not adding a cent’s worth of value to the stock. The people who’d like to take over are. The market is telling you that, loud and clear. You can try dressing it up in russky fearmongering stories and tales of megadilutions, but money talks and bullshit walks in this game. Ask your back pocket who it prefers. Nuff said.

Dynasty Metals (DMM.to) up 5.3% at $5.16. Yeahbaby, show ’em what you can do! The $10m placement has just closed successfully, by the way. I pared down slightly at $5 as planned but I’m rootin’ for you, Washer. Volumes low today, however.

Kinross (KGC) down 6% at U$18.32. Your humble correspondent said before the bell today that it’d dump on last night’s mediocre earnings report. And it did. Just sayin’, ok?

First Majestic Silver (FR.to) down 19.3% at $2.26. I’m mad as hell about this move today and i’m going to tell you why in a post later. If anyone dares tell me that the Canadian markets aren’t crooked after this charade they must live on the Planet Zog or something. A shameful episode to add to thousands of others in the anals (deliberate typo) of the Toronto Stock Exchange.

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