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To any of the long time PTQ holders,who didn't put me on 'Ignore' I have added 50% to my already significant position in Indico(V.IDI)this last week...nuff said...
If nothing else,hopefully the people who trusted management and thought they were their 'friend' have learned a valuable lesson....NEVER BELIEVE ANYTHING ANYBODY with a vested interest tells you without DEMANDING VERIFICATION.....and no,this ones NOT 'diferent'
And remember the rah rah boys who denounced Inmets very generous offer as an 'insult'- it was worth'far more'and they wouldn't sell for a 'penny less'.....yup,that's what they said...
I don't know what it means but I doubt if it means we will be a 150K MidTier Producer really worth $5.00 by next summer,,,,and what was the name of those shares we were supposed to get in our accounts by 'next spring' at the latest?..
But,hey,our friend MrFifer seems to have find VERY well,are't you lucky he's on 'our side'?
And don't forget,PDI will be spun out by 'next spring,at the latest' our friend,MrFifer said so...
And while the guys who did the actual WORK are scrambling to get paid,guess who is basking in the sunshine somewhere,courtecy the naive shareholders who were 'really lucky ' to have him on our side,,,yeah,lucky alright,some 'luck' ....like taking candy from a baby....
I repeat,if you want gold,then there are far more well run,profitable ,proven gold mining companies than trying to resurrect a low grade limited reserve gold mine in the jungle somewhere that appears to have been set up to mine the gold in starry eyed naive shareholders pockets .....and if that was the intent,It was very very successful...
'The world needs gold?....tell you one thing for sure and that is there are a LOT more well run, producing,viable profitable gold mines than PTQ....but unscrupulous self motivated management need naive people who actually think management is their 'friend' ......and there is no better way to attract those starry eyed people than the word'gold'
PT Barnum lives on in the VSE....'there's a sucker born every minute'...
I have been involved in similar situations before,the company goes bankrupt,the stock is delisted and a creditor then buys the assets for pennies which they can now sell .In this case probably the aggregate for road building may be of value to Inmet when they go ahead with the copper operation
But with the assets sold,the PTQ shareholders have nothing left but worthless stock certificates and fond memories of their 'friend' MrFIfer who is probably basking in the sunshine somewhere chuckling at how easy it was ,courtecy of the naive and foolish who actually believed him.....deja vue
PMC......on 'ignore'(best accolade I ever got)
The whole thing has been a debacle from the get go,unless the intent was to plunder the ordinary shareholders,and if so it was a resounding success....Fifer has to be rolling in the isles laughing at how easy it was
The only thing I can't figure out is were the rah rah boys who defended him really that stupid,or were they part of the whole scheme?
Why in the world would any sane person reopen a low grade marginal gold mine with limited ore reserves?PTQ has served its purpose-mining gold from naive shareholders pockets
The gravel might be worth something,but for PTQ shareholders the game is over.Fifer took the money and ran,the cupboard is bare.Maybe at some point the stock will be consolidated and renamed for some new 'great opportunity' ,but shell companies are a dime a dozen
Ask Richard Fifer....if you can find him
Seriously,Why in the world would anybody in their right mind throw good money after bad to reopen a marginal low grade gold mine with limited reserves when there's so many other untainted opportunities?
Anybody seen our 'friend'Mr.Fifer ,or is he basking on some warm beach planning his next foray(have I got a deal for you!) and chuckling on how easy it was to con the naive and the foolish(it's a great opportunity!...lol).....like taking candy from the babies.. ..
Died without a whimper....got your wallpaper paste?
Great opportunity,just great...for writing off as a tax loss...
And meanwhile our 'friend'MrFifer took the money and ran,got to be laughing all the way to the bank....but I doubt if we've heard the last of him,my guess is he'll re emerge somewhere else with 'huge news' for the naive and the foolish who actually think they're being 'let in'....
Nice, but I would be a lot happier if the government tracked down MrFifer and sued him personally.....why should he walk away scott free with millions and leave the Mexican taxpayers on the hook for the wages the workers didn't get ?
Yeah,a forensic audit just might turn up some very interesting stuff...
'I would like to know what really happened'.....not too hard to figure that out,just go back and read the posts of the people who were denounced as 'Bashers' for 'poisoning the board' and called 'Idiots' and put on 'Ignore'..
My summation is Fifer gathered together a group of 'yes men' and put them on the Board of Directors then proceeded to milk this company dry,and when the coffers were empty,proceeded to raise 'equity capital'to carry on milking it,resulting in massive dilution.
Not being content with just drawing his very generous $60,000 per MONTH,he then poceeds to buy a worthless piece of abandoned gold property for $1million,convince the naive shareholders he was going them a 'favour'by 'allowing'them in on the deal-for $30 MILLION!,YES!$30 MILLION DOLLARS!....oh yes,and to add indult to injury,for all this he collected those oh so generous 'Finders Fees' And just WHERE was the Board of Directors (those guys who have a FIDUCIARY RESONSIBILITY to protect SHAREHOLDERS interests)during this raid on the cookie jar?RUBBERSTAMPING everything our 'friend'wanted....
And THAT my friends, is in my opinion ,what 'really happened'that brought us to where we are now,shut down,out of time out of money and about one week to go before being delisted....it was a 'Great Opportunity'-for insiders and management....
Oh well,maybe you can salvage something by writing off the TAX LOSS .....and those share certificates make pretty good wallpaper..,frame them as a reminder not to trust the management of Vancouver Penny mining stock shell games ,they're NOT 'your friends',make them PROVE what they claim
Even if this burned out over promoted underperforming grossly diluted 'great opportunity' could pull off some miracle to reopen,where are they gonna get the shills to prop it up?who in their right mind is going to put a wooden nickle into it with the well diserved record they have?any shareholder left is only going to want to get OUT,not IN
Tell me I'm wrong,no,better yet, PROVE it
'The only news I can confirm is Fifer is out'......great,but it's too little too late,Fifer has already got the money,the company's coffers are dry,their reputation is tarnished and the stock is grossly diluted,and the price of gold has crashed,and if history is any guide,it will be many long years before we see the heady days of $1800 again(we couldn't even make money then,although our 'freind' MrFIfer had no such qualms about lining HIS pockets,courtecy the shareholders)
.now pray tell, what's the 'good news'?
'The only news I can confirm is Fifer is out'......great,but it's too little too late,Fifer has already got the money,the company's coffers are dry,their reputation is tarnished and the stock is grossly diluted,and the price of gold has crashed,and if history is any guide,it will be many long years before we see the heady days of $1800 again(we couldn't even make money then,although our 'freind' MrFIfer had no such qualms about lining HIS pockets,courtecy the shareholders)
.now pray tell, what's the 'good news'?
Typically the only times you get 'Huge News' is when they doing equity financing,(finders fee will be paid)or the insiders are dumping ...,,they pump the stock,or try to,in order to mine the gold in naive shareholders pockets.who have more money than brains,or actualy believe they are being 'let in' by their 'friends'
Chances are.if anybody actually learns the truth,it's more by coincidence than design
Tell me it ain't so...
You have to wonder who in their right mind would try to reopen a low grade marginal gold property with very limited resources and think it could be profitable at current gold prices when they couldn't make when gold was 50% higher than it is right now...like,give your head a shake....
The clock is winding down fast...another week or so until delisting.If there was even a glimmer of hope,you can be sure it would be all over the bullboards,but it looks like we're going out with hardly even a whimper.
but not to worry,it's an ill wind that blows no good,and our 'friend'MrFifer appears to have lined his pockets very very well....
Having fun yet?
Spinning out PDI and 'promising'the shares by 'next spring' at the latest was just another part of the carrot and stick gambit to try and convince shareholders to keep from dumping their stock and sending the shareprice into a tailspin....it didn't work...the only thing that really worked was MrFifer figuring out how to milk the company dry ,leaving us with a bunch of virtually worthless and very diluted wallpaper.Nice guy....makes me wonder,where are the major stakeholders in all this?can't think they are thrilled..our only hope if there is a straw to grasp at is they have a restructuring plan in the works...and no,If there is ,I doubt it includes anyone from the BOD or MrFifer
And EVERY time I tried to raise the flag,I got shot down big time,called the 'village idiot',was referred to as'PMS',accused of 'poisoning the board' and put on 'ignore'(which told me I was probably right)
Where are these 'loyal' people now?feeling 'really lucky' to have MrFifer on their side?
too funny!
Think. About it,the Molyjon is a low grade marginal ore body with a limited mine life.....why on earth would anybody throw good money after bad to ressurect that under the best of circumstances?
I think Fifer knew that and decided the best way to make money from this 'great opportunity' was to mine the gold in shareholders pockets,way easier....then do that neat little property flip where he picked up an abandoned piece of moose pasture for a paltry $1 million and convince the naive shareholders they were getting a bargain by shelling out $30 million.....like taking candy from a baby
I still think it will be consolidated,renamed and recapitalized.Come up with be new 'story' and try and find a new batch of naive starry eyed prople with gold in their pickets who actually think they are 'investors' and convince them MrFIfer is their 'friend'...Deja vue.....it's how the Vancouver Penny Stock shell game is played.A few promotors getting rich off of a lot of shareholders who actually think'this ones diferent'(it's not....rarely is)
lights out and the doors locked,,I'd say it's pretty obvious the rent hasn't been paid....but not to worry, I'm sure 'our friend'MrFifer is living the good life somewhere
Anybody know where 'our friend'MrFifer is these days? ...enjoying the good life(on our nickle)planning the next 'great opportunity' (for himself)....just got to come up with a new 'story' and find another batch of naive starry eyed people who actually think they are 'investors' ,'this ones diferent 'and that MrFIfer is 'their friend'
Whoo boy.....the fleecing of the lambs!
Yeah,we're a long way(down) from the heady days when the irrationaly exuberant rah rah boys were blathering on about being a 150 K MID TIER PRODUCER 'really worth $5 ' by 'next summer', and foaming at the mouth at the very hint that all might not be what they thought it was....afterall,MrFIfer was their 'friend' and they were 'really lucky ' to have him on their side.....
Hard to say whether this will rise Phoenix like from the ashes to be consolidated,renamed and recapitalized,and ready for the next batch of starry eyed 'investors' with money in their pockets convinced they have found the road to riches or whether it will just fade away into oblivion like so many others.
Yeah,I'd like to see a forensic audit to uncover the real truth,and charges laid if warranted,but that takes money and there's not much point in bolting the barn door after the horse has gone anyway.Good lesson though,but you have to wonder how many times it takes before people realise its NOT 'different this time'
Fifers got to be laughing at how easy he pulled this one off,like taking candy from a baby...oh well,I tried...
Wallpaper?
You can't help wondering if PRD is sinking into the morras of all the rest of the 'great opportunites'(they were,to management)on the Vancouver Penny Mining Stock shell game.....funny,where's all the rah rah boys these days,isn't MrFifer 'their friend'anymore?
Got a nice collection of 'Ignores'though(that's when I know I've probably got it right).....wonder if they would like to rethink that decision now?kinda expensive,wasn't it?too funny!
Same game ,diferent name,cut out of the same cloth .....(no,'this ones NOT different')
I have been involved in several just such situations before,the only thing diferent is the name....same excuses, same garbage,same milking shareholders and treating them like mushrooms.Classic Vancouver Penny Mining stock shell game tactics ,and they all end up the same way,out of money,out of time and delisted,good for wallpaper only...
Cost me $1/4 million but eventualy I got smart....made it all back and more.Nope,management isn't 'my friend'.....with 'friends' like that,a man don't need enemies...when they reach over and pat you on the back,all they are doing us feeling how thick your shirt is because they intend to have it...
Trust NOBODY,verify EVERYTHING.Demand ANSWERS.Don't accept EXCUSES,and with that caveat firmly in your mind occasionally you might get lucky....remember,management is counting on starry eyed naive people with money in their pockets who actually think they are 'investors' and 'this ones diferent'(it isn't)been there,done that
Tell someone who cares....
I took alotta crap for blowing the whistle on this one
Having fun yet?
If there was anything 'positive' at all you can be sure it would be out.....the only possible chance we have is for the major issues to be rectified,getting rid of Fifer ,consolidating and recapitalizing the stock.Without consolidation the massive dilution is just an albatross around our neck,we got nothing to show for all the 'equity financing'and to add insult to injury,we paid finders fees on top of it...jup,our 'friend' did very well while the BOD rubberstamped everything... Uh,sorry to 'poison the board'*but with friends like that a man don't need enemies
*where are these buffoons who shouted down anybody who DARED to demand accountabilty anyway?did they just slink away ?
Unfortunately there's probably not a lot to be gained even if a suit was successful,chances are the money has long gone,or squireled away beyond reach, and Fifer knows it.
But any deal ,which is doubtful under the best of circumstances,that included Fifer would be doomed,nobody in their right mind would touch the guy with a10'pole
Fifer legally liable?
I was chatting with one of the original major shareholders who told me Fifer might even be able to be held legally liable for some of his actions...he sold out once he found out what was going on....of course,lawsuits take money to launch and even if successful,collecting is another matter,
No,he didn't consider MrFIfer to be 'his friend' although he did have some other choice words for him....
Funny,I guess some of his loyal supporters would put him on 'Ignore' for ''negativity' and 'poisoning the board'....if there are any of them left,that is...
I was thinking of nominating MrFIfer for 'Flim Flam 'artist of the year.....anybody care to second that?
'Go Fifer ,go' seems to be a pretty accurate accessment,some of us have been saying that for a long time...
Any deal that includes MrFifer is NO DEAL.'Once bitten,twice shy' is pretty good advice.
'You fool me once,shame on YOU ,You fool me twice,shame on ME'