|The Canadian market has been beaten down stupid lately along with global markets and that wholesale lack of confidence is particularly hard on the juniors. Not helping is the high profile implosion of Sino Forest (TRE.T) amid serious fraud allegations.|
Those of us who have seen a few of these market funks come and go realize that opportunity often comes from the pain of others. Sharp pencils are selectively buying on lows when others fall over themselves to sell.
Avion Gold Corp - AVR.t
|On September 16, 2011 the Company met the requirements for and was selected to become part of the S&P/TSX Composite Index.|
This event has marked yet another milestone from a highly competent management team that has delivered in indisputable spades.
|For a story that is both completely and totally UNREAL one need look no further than St Elias Mines. (SLI.v)|
What makes this well jaded observer scratch various disbelieving apendages? How about a fully diluted market capitalization exceeding $ 250 million for starters, and this from a company that until very recently did not even have a drill permit let alone, don't be bloody ridiculous, a single assayed drill core confirming ore.
|Very recently adding insult to long running common sense injury is a blurb in Forbes that describes in living colour what a massively successful, self-made mining magnate the main cheese is. Lord give me the bloody, damn strength.|
|Winner of the ugly hands down and with no debate possible is the horrid Sino Forest. http://pennystockjournal.blogspot.com/2011/08/sino-forest-corporation-tret.html|
What can a body possibly say? The OSC halted trading with greatly discouraging words and the rush for barf bags has been surpassed only by the rush to file class action lawsuits. Certainly a large equity wipe out pending plus another $ 1.9B in bonds.
An OSC hearing on September 8, 2011, confirmed a trading suspension until January 25, 2012.
“We have strong concerns with the integrity and reliability of the issuer’s financial statements,” OSC lawyer Karen Manarin said during the hearing.
|There will be more than enough pooh to go around in this opinion and a body can start with a heavily overloaded BoD stacked with alumni from Ernst and Young LLP, the very same firm signing off on the audited financials of this TRE-X.|
|Particularly galling and sure to go down in Canadian securities history as the most ill-timed comments ever, grossly conflicted Dundee "analyst" Mr. Richard Kelertas insisted Sino-Forest was a “class act in timberland management in China,” and that "Muddy Waters research is a pile of crap."|
The public thanks you for your grossly conflicted comments that very well may contradict the truth Mr. Kelertas of underwriter Dundee. If this isn't the best/worst example of conflicted interests spewing at the public I really don't know what is. Shame Mr. Kelertas. The Dundee lawyer must be pulling out grey hairs by the handful.
|Bloomberg reported ...|
"Sino-Forest Corp. (TRE) insiders, including former Chief Executive Officer Allen Chan, sold C$81 million ($83 million) of shares since the end of 2006, regulatory filings show.
|The Good, the Bad and the Ugly is a 1966 Italian epic spaghetti western film directed by Sergio Leone, starring Clint Eastwood, Lee Van Cleef, and Eli Wallach.|
The film is regarded by many critics as a classic. It remains one of the most popular and well known westerns and is considered to be one of the greatest of its genre.