Sunday, February 26, 2012

Michael "StinkBag Analyst" Fowler

We are both disgusted and repulsed beyond measure to note the immediate immortalization of Mr. Michael Fowler of Loewen Ondaatje McCutcheon Ltd. on this blog forthwith. Better known in some circles as "StinkBag Analyst" Fowler.

Who is the real Michael Fowler?

"Senior Mining Analyst at Loewen Ondaatje McCutcheon.
Past: CEO at Augen Capital Corp, Vp Senior Mining Analyst at Desjardins Securities, Research Manager and Mining Analyst at Harris Partners Limited.
Education: Cranfield University - Cranfield School of Management, University of Leicester, University of Liverpool."
I'm too past speechless so let's hear what mystery man Fowler (I cannot find the man's picture) has to spew about Fire River Gold (in the Globe and Mail) first ...

"He also gives the nod to Fire River Gold and Northern Freegold. Fire River has a small, producing mine in Alaska that is in the process of ramping up to full commercial production. The company bought the property and infrastructure on the cheap in 2009 for $3.1-million in cash and shares, but estimates the replacement value of mining equipment and infrastructure alone at $150-million."



http://www.theglobeandmail.com/globe-investor/investment-ideas/digging-for-gems-in-the-junior-mining-patch/article2342629/page2/

And it just goes on ...

"Mr. Fowler, who teaches a course on how to invest in juniors at the annual Prospectors and Developers Association of Canada convention, says one approach that minimizes stock selection risk and maximizes the chances of decent returns is to try to time the market. "

http://www.theglobeandmail.com/globe-investor/junior-miners-the-big-score-and-the-big-risk/article2341369/?utm_medium=Feeds%3A%20RSS%2FAtom&utm_source=Home&utm_content=2341369

The very first step in any possible strategy to minimize stock risk is to NEVER listen to the touts of paid dorkuses of zero ethics and horrid track records right Mr. Mystery Man?

A 13 second reveiw of Fire River Gold reveals two things. First that every asset is pledged with a due date on a 100% fully secured basis in November. Secondly that Loewen Ondaatje McCutcheon Ltd. has loads of paper and these shameless K9s have been touting this deal down from MUCH higher levels.

Very same doggie who said Fire River Gold (Then $.50) would be producing 50,000 ozs gold production a year, annual cash flow of $ 36m by 2012, and a conservative target price of $ 1.40? (Now $ .20)

Mr. Fowler MUST have meant to say LOSING $ 30 million per year and sub $ .10 in weeks. Pffft.

For bloody shame and I'd bet that Fire River Gold is very seriously cash strapped again by June and is probably the worse possible krap on the Venture today and will be finished in a score of months at very best.

Taking another dishonourable mention again, is Canaccord Capital. This time the horrid drama is about loading 80 year old retirees money into ultra high risk options "managed" by total retards interested only in churning for commissions. All the money accidentially disappeared for some unexpected reason and Canaccord has lawyers on permanent retainer for a reason citizens.


http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aCF-1928411&symbol=CF®ion=C
  



Wednesday, February 8, 2012

OSC targets Goldcorp's Ian Telfer

"The Ontario Securities Commission has linked Goldcorp Inc. chairman Ian Telfer to an insider trading ring that the regulator claims netted $962,000 in illegal profits in 2007 and 2008.

In a statement of allegations released on Tuesday, Feb. 7, the OSC says that Mr. Telfer provided advice to a former GMP Securities LP secretary on how to hide communications and disguise share ownership. He also helped her buy 500,000 shares in 222 Pizza Express Corp. that were later worth $500,000."


Mr. Telfer, in a statement issued Tuesday through his lawyer, Joseph Groia, denied any wrongdoing. He said that there is nothing wrong with including "someone's relative" in a private placement. "If the OSC is trying to send a message that it does not like this common conduct, I do not believe the OSC should be doing it this way," he said.

http://www.osc.gov.on.ca/documents/en/Proceedings-SOA/soa_20120207_agueci.pdf

So what is the prognosis for Mr. Telfer remaining chair of Goldcorp? Not good. This process and the salacious allegations are NOT the concern of Goldcorp shareholders, and Mr. Telfer will need to prove his innocence while NOT serving in an upper management, fiduciary capacity where the highest moral and ethical standards are expected as a condition of employment. Since this matter could drag out years ...

A very bad way to end a career if true, and an outcome now that a more careful man would have avoided at any cost.

Wednesday, February 1, 2012

Natural Gas cheap as beans ...


Nobody needs to tell hurting drillers about the krappy price for Natural Gas (NG) these days, and this trend is getting serious.

While crude oil is doing just fine, thanks for asking, NG is getting battered into capitulation, much to the increasing head scratching of stuck players.


Things are getting so bad that a body betting on beans (soybeans actually) would be cleaning up on any dopey NG bull.

Speculative, pure NG plays appear to be the certain plague for the unknown future, and who knows what the "big picture" effect of all that dead cheap Co2 producing fuel means. Better than coal you say? Perhaps, or not.

Further to our extremely complex, well compensated, and hard to understand friends at the BCSC, Mr. David Baines once again took aim with that widely read sword of his today.

Opinion: As B.C. Securities Commission dithers, investors get burned
Each year, investors, many of them senior citizens, lose huge amounts of money in the exempt securities market


"Last week, I sent an email to BCSC chairwoman Brenda Leong and vice-chairman Brent Aitken asking what they are going to do to fix this mess. Rather than answering directly, they got BCSC media relations officer Richard Gilhooley to call me.

"Your concerns are shared by the highest levels over here," he reported. "But we want to make sure we understand the impact of introducing registration requirements. That analysis is ongoing."

There was a time when I would have accepted this response, but no longer. I have been writing about this problem for more than a decade and if anything, it's getting worse. While the BCSC dithers, investors are getting burned."

http://www.vancouversun.com/Opinion+Securities+Commission+dithers+investors+burned/6084262/story.html#ixzz1lBMwt9jd

And "dithering" is being entirely generous given some of the horrid personal examples I have stamped forever into disbelieving memory.
Brenda Leong - $499,251
Brent Aitken - $443,631

One has to wonder mightily what brand of $ 30m annual budget organization, anywhere, blows that kind of dough on its two top dogs, and lets get serious here ... look and consider carefully how this organization funds itself and one must believe it acts in a manner that encourages and rewards incompetence.

Film at 11:00 when I'm ready to explain myself.