Now, if I only had the $64k answer. But, since I never seem to get tired of putting my toosh on the line ...
So what is this funny new Mining Publication (what is that name again?), that's it! "The Hard Rock Analyst", that's the name. Well, if you can cut through all the technical stuff (you would think these guys were experts, or something) you just have to wonder why these boys would choose to feature this particular stock (amongst several others) to write about in Volume 1, Number 1 of their brand new magazine?
Beats me.
When I read that Barrick was willing to spend 10.5 million up front with lots more millions to come, it made me a little suspicious, I can tell you that.
But, I knew something was really fishy when they started reporting the results of the two, not 1, previous independent drilling programs - in ounces per ton instead of grams per ton.
I was particularly disturbed by the report from "Pacific Rim's DD93-1 [that] intersected a phenomenal 99.5 m (326.4 ft) of core length averaging 3.98 g/tonne (o.116 oz/ton) gold and 884 g/tonne (25.8 oz/ton) silver."
Hey, this is on the Diablillos property!
Now, just wait a darned minute here. Isn't that the same one that Barrick is right now drilling on? The one all this fuss is about? Hmmm.
Now, why in the world didn't Pacific Rim, or Barrick, just go out and spend a whole lot of money on some elaborate promotional plan like most of them other junior mining company's do?
This is getting to be just too darned coincidental. I'm beginning to think that someone is trying to hold out on me here.
Well, like I was saying, before you interrupted me, that is.
So, one day the news comes out that Barrick is going to sign this big contract with PFG. So me and some other fellas, well, we go out and buy some stock.
And, before you know it, the price of stock goes up.
Then the contract negotiations hit a snag and Boom! the stock price proceeds to go right back down.
Sounds pretty familiar so far, right?
Yawn.
Sure. Right up to sometime in May. When, one day this young man from a private Investor Relations Company (hired by PFG) starts calling the shareholders up to tell them that the contract will soon be signed and that Barrick is all geared up to start drilling. Immediately, he says.
Yawn.
I heard this one before, son!
Then, this same young fellow calls again. A week later. Trouble is, he isn't even a LITTLE pushy, mind you. But, he really is a pretty likeable young man, none-the-less.
Yawn.
So, he calls back again another week later. Still nice. Not really as pushy as he's supposed to be, though. (I wondered for a while if he might have had to pay someone to get this job. Honest!). This time, he says, it's going to be REAL SOON.
Yawn.
So, I started thinking...
What the heck. Why not? The guy really is sincere. You can't beat the price. And, they are not going to pay these guys all this money just for fluff. Now, once again, in case I lost you here for a second: And the price is sure right. (It died after the breakdown in contract negotiations with Barrick.) Oh well, since I already know that I am going to buy some, I might as well buy now, when the price is down. (Or, did I already say that once before?) Anyways, I can always pay too much for it later, I mean, if I really have a need to.
So, called up the broker and doubled my position.
News release comes out, son-of-a-gun, just when the outside investor relations person said that it would.
Whoa. It never happens like this.
A couple weeks later, "The Canadian Speculator" does a write-up and starts recommending the company. Darn, just when everything was going so good, too.
That nice young man? He calls me up again to tell me that they have just issued a news release that the drilling program has started.
Then, before you know it, the darned news comes out that "the results looked good on visual inspection" and suddenly, seems like everybody wants to buy the stock.
Well, why not? I always said that I could pay a lot more for it later. So, here's my chance.
So I did.
Now, these outside investor guys are really nice, but they are supposed know the rules just a little better. Aren't they supposed to call you up and tell you a whole lot of lies and rumors that, by law, YOU then can't tell anyone else?
Well, somebody forgot to tell them that, I can tell YOU.
"We do not know, but we think that the news will be very good."?
Really, what kind of nonsense IS this anyhow?
But the last straw. I mean the one that broke the camel's back happened just last week.
This fellow calls me up to tell me about how nicely the stock price is doing (like I don't know cause I live in a cave).
He then tells me that before the news is made official, that I might want to know that the Diablillos property does geographically trend to the NorthWEST in the direction of PFG's 17,000 hectare 100% fully owned Cerro Blanco property.
Now this is just a little better, I tell him. Weak, but totally ethical and honest. Very nice. There's just two things. One, this has been public knowledge since the November 22nd news release. And, two, the property trends to the NorthEAST, not the NorthWEST.
Well, we disagreed for about 30 seconds (of me saying, "I'm sure" and him saying, "Are you sure that you're sure?") before he gets off the phone.
So, today he calls me again. Now get this - to tell me that I will be happy to know that the price of the stock is still going up. (O.K., now he thinks I must be completely brain dead.)
"Oh, and one more thing," he adds. "You were right about the direction of the trend. It is to the Northeast. I feel foolish. I was wrong. But I'm glad you corrected me so I didn't continue to inadvertantly misinform people."
And he really meant it, too.
You know, somebody really needs to talk to these boys. This is NOT the way they are "supposed to do it". If word of this gets around, it just may start setting a bad example for all them other companies.
But, I guess these young guys, they just don't get it.
There is this one little thing that keeps bothering me, though.
I still can't figure out just how in the heck I ended up with all this here stock. That's all.
Just don't make any sense.
None at all.
Regards,
JED
P.S. Now, I know you didn't ask me, or nothing, but if all them old drill results are any indication. There just may be something to this whole PFG thing, after all.
Lord knows, I hope so. 'Cause they sure don't know diddley about how you're supposed to promote a stock, now do they?
Still, as much as I hate to admit it. I did enjoy talking to that young man on the phone.
Heck, he'll just probably call me up and tell me some more exciting news without me having to even give it a second's thought.
Now, if only he wasn't so darned nice. |
