We have a classic case of pump and dump. 8 million shares worth of selling power is impossible by anyone other than the company. Company dumped on the market after aggressively marketing their stock with headlines. Now that is a fact. The only thing debatable item is whether this is a scam or whether they're financing their operations. Obviously the more likely scenario is a scam. I looked at a 2010 SEC filing, and the shares outstanding were around 100 mill. Now it's at 160 mill. I smell a scam.
Here's a tip to get recognized as legitimate: report revenue.
Sterck said that Dong Thanh could produce 20,000 ounces in a couple months, and that was a year ago. On the website that is presented as the most compelling reason for investing in the company. Yet, Dong Thanh is SOO important that they don't even bother to mention it on any quarterly reports.
They started negotiations in February. How long do negotiations take?
I got to give them credit though, it's a well-designed hoax. Fooled me atleast.
