Silverado Gold Mines Ltd. (fka SLGLF)

[Montanore]

Have any of you read this yet?

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On Feb. 16, I wrote a lengthy column about Silverado Gold Mines Inc., a Vancouver company that has racked up more than four decades of losses, but thanks to some deft stock promotion, has provided a comfortable living for its founder, chairman and president, Garry Anselmo.
Here's how he has done it: The company has a blank cheque to issue as many shares as it wants. Anselmo sells these shares privately to investors at a big discount to the market price. The money goes into the treasury, and most is paid to Anselmo's private company, Tri-Con Mining Corp., which runs the company's business and charges handsomely for its services. This is how Anselmo makes his money.
Much of the remaining funds are used to pay for stock promotion companies to tout the stock which trades on the OTC Bulletin Board in the United States. Through these third-party promoters and a barrage of puffy news releases which, like flypaper, tend to ensnare naive reporters, Anselmo has been able to keep the stock actively trading.

http://www.canada.com/vancouversun/columnists/story.html?id=0d3d50d9-3f53-4650-99d9-e48f0d01ca81&k=10863