News: questionable activity I’m out, for now anyway.
Just read the news release that came out at the request of the OTC markets group. Promotional newsletter materials released to coincide with the price run-up. Materials came from a company owned by the same group that owns one of the companies that participated in the private placement.
Although I can agree that there are many good things about Marifil that should be promoted, I find this behaviour questionable at best and these types of things seem to follow the new CEO. This may not be directly his fault, but you should know a little about the ethics of companies that invest in your placements.
Don’t get me wrong: this company has great assets. They are REAL assets that could be worth billions. However, I see a CEO that is surrounded by controversy, and I see repeated dilution to the share structure to raise funds to promote and run ads on BNN or hire marketing consultants instead of doing ground work to allow the properties to speak for themselves. Doing the resource estimate is a good step, but I’ve never seen a 43-101 resuscitate a company. To move a resource company forward, it requires institutional money at some point. I don’t see big money following this management team.
good luck everyone.
i hope I’m wrong.
And for the record: I may knock management, but I do believe D!ck Walters is a stand-up guy. He’s never been the problem.