By Otto Rock of Inca Kola News
My thanks to RW, RS and PH who all picked up on this within minutes of its release today. Good to know that good guys are watching.
Remember back in late August and this post about Cardinal Resources (CDV.to) (CDV.ax) and its “ridiculous, deceitful BS news release”? The one that decided to ignore all the empty dirt bits of a drill hole and just report the cool bits with grade, making it sound like a good hole when it was nothing of the sort? Well folks, far from having the Canadian authorities stamping down on this nefarious way of fooling the world, they seem to be encouraging it and allowing it to become a fashion. Take a bow, IIROC/BCSC/CIMM, your mothers should be proud of you.
Orla Mining (OLA.v) has decided to go the same route. Here the headline from OLA’s offering this morning, as screamed to you by some idiot in an IR department who thinks he’s clever (and it got past the board…my stars where is the control here?):
Orla Intersects a Combined 104.8 Metres Grading 0.38 g/t Au and 1.71% Cu at the Cerro Quema Project, Panama
You see that word “combined” slipped in there? The sneakies decided to go that route because If you look at the actual intercept…
…you see its 41m of overburden, then 49m of stuff, then 28.7m of non-stuff, then more stuff. And in fact if you check out the second 55.8m or so, its real reality is 17m of high grade material (5%+ Cu) surrounded by mediocre 0.5% rocks that, being deep and sulphide, are economically very iffy even at this “conceptual” stage. And all this is aside from the fact that Cerro Quema’s main gig is the oxide on top.
If you expected better things from a company with Chuck Jeannes at its helm, think again. This is junior mining and any BS will do to fool the sheep and mouthbreathers into buying your paper.Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.