Will,
In reference to Patrick Evans, you said, "I would never fault any company head for presenting his best pitch to investors. In fact, I think they should."
I agree with you, but there is a fine line between a "best pitch" and lying. When your prospective customer does not understand that your best pitch is, in fact, a highly optimistic scenario (the Salman report), and instead believe it is the most likely outcome, this then becomes lying.
I could use another word to describe this type of sales activity, but lying is the most accurate.
I understand that junior mining is a very tough business, and you can't always be a saint when presenting your story to the public; but the customer has a right to at least know what they're buying.
The story painted by the Salman report is that MPV is risk free, and anyone who invests in the Company should easily double their money. Investors don't understand that this is a very optimistic scenario, but instead are under the mistaken impression it is the most likely outcome, if not the only one possible, not withstanding the lengthy disclaimer at the end of the report.
Furthermore, Patrick Evans was aware that this report was going to be published, was aware of it's contents, and has encouraged potential clients to read it. This amounts to an endorsement.
This crosses the line from "best pitch", to deliberately disseminating misleading information to investors.
-B- |
