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Thought you would enjoy this fine mess of a uranium company's story: UEC.
It appears that the company, for whatever reason, without publicizing the fact, stopped mining, and has been publishing sales numbers based solely upon inventory sales.
The link below details how that was discovered.
So the stock is down 33% today as a result, and shareholder lawsuits are being filed.
I see that the CEO of UEC is also the CEO of Brazil Resources, so if any of your readers/clients are invested or thinking of investing, perhaps a word of caution, which you are so subtly adept at giving, would be in order. :)
UPDATE: Several of you have forwarded the latest June 2015 edition of the Louis Lobito Little Wolf James International Speculator, published (oh what a surprise) by Casey Research that's basically a long pump for UEC.
And you want me to be surprised? Scumbags pumping scumbags, period.
UPDATE 2: UEC responds:
CORPUS CHRISTI, TX, June 19, 2015 /PRNewswire/ - Uranium Energy Corp (NYSE MKT: UEC, the "Company" or "UEC") is responding to recent press releases relying on the unfounded allegations of a third party.The subject press releases have absolutely no merit and are comprised of unfounded allegations made by a third party whose motives are questionable. The Company has reviewed the referenced article. The Company's SEC disclosure is very clear and we will not comment further on the possibility of groundless, frivolous litigation. UEC is in discussions with counsel with a view to doing whatever is necessary to bring these parties' motives to light and to seek such legal and equitable relief and any and all damages suffered by the Company and any of its shareholders as a consequence of these unfounded allegations.
full NR here
Tom Tomorrow has given permission to distribute this new 'toon to one and all. So here it is.
- Canadian brokerages continue with a coverage universe recommendation 95% buys, 4% holds, 1% sells.
- Mouthbreather central websites run by and for the corrupt rich folk in Vancouver (yes CEO CA that's you, but sadly you're not the only ones out there) tell you that fame and riches are just around the corner, not just now today but in September 2012, March 2013, August 2014 etc etc ad infin.
- Places at the very bottom of the foodchain such as the unreadable waste of time that is Stockhouse band together the losers and if anyone dare tell them anything that doesn't suit their fantasy narratives they're immediately branded "bashers" and placed on ignore.
- Company IR departments are all yeah for sure it's been tough but hang in there guy, things are getting better and...you know the rest.
- Et cetera, et cetera, et cetera.
BMO Research is initiating coverage of six of the North American-based gold miners. After two years of cost cutting, balance sheets are showing positive improvement and debt is less of an obstacle toward a new stage of growth focused on return that will drive the next cycle.
1. We have moved toward a more constructive view and believe that the senior miners looks to begin to screen more constructively in early 2016 when viewed by generalist investors.
2. We recommend that investors position in advance of this catalyst, taking advantage of seasonal weakness through the summer.
3. ABX and GG are rated Outperform: ABX on execution of strategy, GG on delivery of growth. AEM, AUY, ELD, and KGC are rated Market Perform but have catalysts that could change our view.
Well, not quite true. Better said is juuuuuuuuuust enough people love Mario.
He got 57.0% approval last year. Slipping there Mario. Slipping.
And don't you forget it:
If you do, phone Pierre. He'll remind you personally.
So, let's see now...here come the choices:
1) Put your U$1.5m in cash into a time deposit paying an annual compound of four lynx's farts.
2) Put your U$1.5m in cash where it earns
U$225,000 U$187,500* in one flat year
NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX:NB)(OTCQX:NIOBF)(FRANKFURT:BR3), is pleased to announce that the Company has arranged a loan agreement dated June 17, 2015 in the amount of USD $1.5 million from Mark A. Smith, Executive Chairman of NioCorp, which will serve to further improve and refine the Elk Creek Niobium Project. These funds will contribute to work done on the Preliminary Economic Study (PEA), additional hydrological testing of the planned mine site, and additional hydrometallurgical work necessary to keep the project on its original timeline for completion of the Company's Feasibility Study. The one year term loan will bear an interest rate of 10%, is secured by the Company's assets pursuant to a concurrently executed general security agreement, and is subject to both a 2.5% establishment fee and 2.5% prepayment fee. continues here
*read the 2.5% pre-pay thing too quickly. Still, 187k is still handy moolah
PS: For Ricardo, Abel and anyone else who might care. The last 48 hours have shown one main thing, that CFK is in charge. She's chosen Scioli and she's chosen correctly. Two points:
1) Randazzo never was, is or ever will be 'presidenciable', that special secret sauce a politico needs to make it to the top of the greasy pole. Scioli is, period. In the eyes of the wider electorate, Daniel Scioli has paid his dues and won't ruffle feathers as the Head of State. However, if Randazzo became the chosen one, Macri would be offered an open door to the election. It was only a matter of time and timing for the Randazzo retirement and what's more, his decision to do (or not do) what he wants in the election cycle this time around is unimportant. There's only one job that matters, folks, and it isn't the governorship of Buenos Aires province. Not this time, at least.
2) On the question of timing, that's now and that's CFK pulling the trigger via her decision to pair Scioli with Zannini and her decision to have a little chat with Florencio Randazzo. With these moves she states that a) she is in charge and b) a vote for Scioli is a vote for the continuation of the project. And it may come as a surprise to those outside looking in who only get to note Argentine goings on via mainstream English language press coverage, but both a) and b) are distinct advantages for Daniel Scioli. Despite what you might have heard, CFK is a popular president in Argentina and Argentina's not doing badly at all right now. That may pain you politically, that may go against your preconceived ideas of what inflation is, but that's also true.
Scioli's only weak point for October is the potential for accusations that he's the chameleon candidate, that he'll take Kirchnerism away from its path and pull it to the right thereby alienating its grassroots. The people who feel this way are some of the most vociferous in social media complaints about the way Randazzo has been treated today, which is another reason why CFK has acted early. By clearing the field today in June, long before the PASO comes around in August, she gets the time needed to rally the whole FpV, from the wishywashy Scioli faithful to the hardcore Campora, around the same flag. On this score, the choice of Zannini (by CFK, not Scioli) is inspired and hints at the rise in ambitions of Maximo Kirchner.
I digress, but the basic point is that CFK is much better at Argentina politics than all of us and she's now played the main cards. She's named Scioli (which changes nothing, he was always going to win the FpV nomination over Randazzo) but she's done it in a way that will assuage the doubts of the hardcore K members. Scioli is the one that is deemed 'presidenciable' by the wider population, he's now had the Kirchnerist collar fixed firmly round his neck. And he's your new President come December.
PPS: Life is a lottery
It's what Jesus would have wanted.
1) He draws no salary
2) He owns 25% of the company's shares.
Washington D.C., June 17, 2015 —The Securities and Exchange Commission today announced fraud charges against a Massachusetts-based investment advisory firm and its owner for funneling more than $17 million in client assets into four financially troubled Canadian penny stock companies in which the owner has undisclosed business and financial interests.The SEC alleges that clients at Interinvest Corporation may have lost as much as $12 million of their $17 million investment based on the recent trading history of shares in the penny stock companies, some of which are purportedly in the business of exploring for gold or other minerals. Interinvest’s owner and president Hans Peter Black has served on the board of directors of these companies, which have collectively paid an entity he controls approximately $1.7 million. Black’s involvement with these companies and his receipt of payments from them created a conflict of interest that he and Interinvest failed to disclose to their advisory clients.
Frank dude, whoever's running your personal PR, sack them now. Whoever told you it was a bright idea to put out a press release is an idiot, whoever got you to agree to a Q&A with the NatPost guy is a moron. Stop talking to the press about being annoyed over your links to the Clintons. It doesn't matter if they're totally true, totally false or somewhere in between. It doesn't matter how innocent you think you are, or how wonderful, or how successful, just STFU and stay that way
PS: No, I don't own any. Not planning to, either.
This was two days ago, it's down even more now.
Copper (NCU.to): No amount of hype can save a marginal project. Since the Nevada Copper (NCU.to) feasibility study NR came out on May 28th, the change in price trend has been as abrupt as it is obvious on that 2015 year-to-date chart. We've also had NCU's management team aggressively marketing the project in both Nevada Torontoand in the post-NR period, so the reception for the message among professionals is clear; not buying. New York
I'm aware that Pumpkin Hollow is "one of the last big copper projects not in the hands of a major" or whatever other line they use to sell the thing. Well folks, perhaps one day it'll dawn on people just why no major has bought it in the years it's been shopped around. Or perhaps that fact is finally dawning on people this month. It's about time it did.
Everybody loves my baby.
I'm trying to think of something to say that isn't "not surprised" and failing.
So, not surprised. NR here
PS: The full SEC filing is here. It includes the ostensible reason why GG wants to dump its THO:
Argonaut's message here.
Bart's message here.
They talk about mining stocks, too.
This is the very opposite of journalism. Ponder how dumb someone has to be at this point to read an anonymous government accusation, made with zero evidence, and accept it as true.
UPDATE: Zelo Street gets in on the act and points out factual errors in the ST story. Good job of fact checking from one of the smartest UK media-watch blogs out there.