Friday, December 31, 2010

Never Cry Wolf Mutt

It comes as no surprise whatever that the public appears to be beating a 6 laned, paved express highway to Mr. Barr's bulging, overloaded wallet as usual.

"Fire River Gold Corp., further to Stockwatch news releases dated Oct. 22, 2010, and Nov. 24, 2010, has closed the third and final tranche of its non-brokered private placement financing.

Due to strong interest, the private placement was oversubscribed."

And where does this massive and continous interest for mostly worthless paper actually come from? How about from the public types using the market for the paper itself?

Dec 30/10 Dec 30/10 Pacific North West Capital Corp. Direct Ownership Common Shares 16 - Acquisition under a prospectus exemption 500,000 $0.450

Dec 26/10 Dec 24/10 Pacific North West Capital Corp. Direct Ownership Common Shares 10 - Disposition in the public market -500,000 $0.470

Simply examine the financings of every and any other Barr stable brown chip and this ridiculously obvious pee pee strokery is 1000% standard operating proceedure time and time again.

Come on. When does this rubbish start getting tired Mr. Barr? By rights we should be expecting another highly oversubscribed tranch. Sheeple aren't really this stupid after the 27th insulting time ... no, really.

"Next Gen Metals Inc. (CNSX: N) (“Next Gen” or the “Company”) wishes to announce that further to the non-brokered private placement of up to $500,000 announced July 19, 2010, and the closing of the first tranche of the private placement announced on July 30, 2010 for gross proceeds of $435,750, the private placement has been oversubscribed."

Next Gen Metals Inc. (CNSX: N) (“Next Gen” or the “Company”) wishes to announce that further to its news releases of July 19th and 30th and August 12, 2010, the Company has completed the second and final tranche of its non-brokered private placement and has issued 2,295,000 units (the “Units”), at a price of $0.15 per Unit for gross proceeds of $344,250, under the same terms and conditions as set out in the July 19, 2010 news release. The private placement was oversubscribed

May 26, 2010. Vancouver, Canada -- Fire River Gold Corp. (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR) (the "Company") wishes to announce that further to its news release dated May 4, 2010, the current non-brokered private placement has been oversubscribed

"September 16, 2010 Vancouver, Canada -- El NiƱo Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E7Q) is pleased to announce that the previously announced non-brokered private placement issued on September 2, 2010 and September 7, 2010, regarding a non-brokered private placement of 10,000,000 units for a total proceeds of $500,000 has been oversubscribed ...

Tuesday, December 14, 2010

Damn the Torpedos

Admiral David Glasgow Farragut (1801-1870), the first senior officer of the U.S. Navy at the time of the American Civil War.

The quote is "Damn the torpedos, Captain Drayton four bells Jouett full speed!"

While the investing world waits for the "in house" PEA on the resumption of underground mining at Nixon Fork, the management of Fire River Gold is waiting for not very much as the cash burn gets rolling ...

"Fire River Gold Corp. has expanded its management team at the Nixon Fork mine. Several key personnel have been recently added to oversee construction of the cyanidation plant during the winter and ready the mine for production next summer."

So a very expensive surface drill program returns less than encouraging results and its STILL a foregone conclusion that a $ 7m CIL is economically justified?

And forget too the tailings PEA that is just about as bare bones as can be found even with AU at record levels?

A body really has got to wonder what the point of all these expensive engineering studies are if their supposed purpose has no meaning or relevance whatsoever to the decisions being made.

Bottom line remains completely untouched and obvious to all.

Why is this Co claiming AU ozs that represent a majority of the supposed ore at Nixon Fork if that rock is below the water table and cannot be mined?