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Pastimes : The Death of Silicon Investor -- Ignore unavailable to you. Want to Upgrade?

To: Toby Zidle who wrote (892)	9/29/2002 7:04:51 PM
From: E. Charters	Read Replies (1) \| Respond to of 1003

Investor resistance to being part of intelligent street capital, but fleeing blindly to the usual suspects which are promoted by brokers who have the money to dress up whoreish plays is the chief cause of lost money in the resource market. Everyone flocks to the sales pitches of the Cannacord and Marchement drillers. They hope to make money on breathless pronouncements of imminent success. They all have PhD's on the board, drills in the bush, and 4 colour prospectuses. But they probably bought the claims of myself or someone I know. Now if I go out and try to raise money for the same claims but with a more intelligent, less Barnum approach to drilling and development, well it's run for the hills, its the dreaded seed money curse again. Few people realize the lack of depth in the industry. I know PhD's who have never worked in a mine, or a mill. I know mining men who have never prospected or worked on a gold deposit, yet purport to understand gold. They don't. Their assumptions are way whacked out when it comes to drilling off a vein. Worse still, are the brokers with their mantras, who will tell you "gold zonation" is the only deposit that makes money", or "it's gotta beopen pit heap leach. You cannot mine narrow vein these days." How they hell would they know? Closest they ever got to a gold mine was a drive by of a bookstore with a few articles on the subject. I have had brokers with geological degrees tell me that they would not look back any stock for diamonds except it had to be on X "craton." Or "we cannot do diamonds, the South Africans control it." I guess that would prevent a Canadian diamond stock going to 65 bucks. (Diamet did) They know better than Sobolev or Gurney. As long as this kind of money drives the exploration industry, tons of metal and mineral are safe in the ground. But you gotta go the bastards to get the 300 investors. Louis Doyle did not and got the 300 himself for Barker Minerals. He is safe in control from the brokers. They jacked him around like he was a street criminal for years before they would let him on the exchange. The usual reactiona broker gives you if you have investors is "dump them, use mine" Or "they will all hit you (actually him) in the market." Yah, sure. And he won't? EC<:-}