IKN

Win us with honest trifles

Veris Gold (VG.to)

Seriously, this must be the worst run junior gold producer of them all. How the blinking flip can this thing default on a single month’s gold delivery after boasting about its November gold production numbers and also raising millions in a recent equity deal (note: VG could have paid DB in cash rather than bullion if the gold wasn’t there for delivery)? The absolute best case scenario i can come up with is that the mgmt decided to play chicken with DB, thinking that they wouldn’t file for default on just one month’s non-delivery and they could sort it out amicably later. But even that scenario screams ‘utter fuckwits’ at the world. As for the worst case…well, the simple question to ask is “Where’s the money gone?”, the difficult questions run on after that.
Any way you cut it, it beggars belief that this piece of dogshyte equity is rallying today, rebote de gato muerto or not. Or to quote Mugatu:
PS: Oh yeah, here’s the NR for context, just in case the above is slightly cryptic to you.

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