Dear Daniel: As recent news stories suggest, the Carson Gold-DiamondWorks promotion appears finally to be on the launching pad. There's a glitch or two in the propulsion system, and there doesn't seem to be any rocket scientists aboard. Still, once the funds are strapped in the ride should begin -- which way, that's the difficult question... Best wishes, Adrian
Good News!: Deal Collapses -- DiamondWorks/Carson Gold
The transparent spin-doctoring continues in the wake of last week's collapse of Carson Gold/DiamondWork's once-highly touted China Diamond Corp. acquisition. Despite this Friedland-backed VSE company halting trading in its stock to arrange and promote the purchase, and it receiving shareholder and regulatory approval for the deal, a still unexplained situation involving anonymous vendor-shareholders sent the Chinese diamond mining plans into the tank. Stock brokerage touts are stretching their seemingly limitless imaginations to try and explain how the loss of this formerly highly valued asset is actually good news. (Can we soon expect to see a research report on a VSE broker's letterhead explaining that, contrary to appearances, the record rainfalls pummeling Vancouver are, in fact, liquid sunshine.) Regardless, more understanding mutual funds are expected to follow the lead of institutional managers at AGF, Fidelity's True North, BPI Small Companies, Robertson Stephens et al into DiamondWorks/Carson Gold stock. As the company makes plans to sock another $30 million of its shares into the supportive hands of mutual funds, focus will be directed to the company's claims of diamond riches in Sierra Leone and Angola.
For more on the Carson Gold-DiamondWorks story and other stock market news and culture items visit the Big Top, Sideshow and Midway section of the howenow web-site presently under construction @ imagen.net |
