Wednesday, February 22, 2012

Just can't stand it again department

We are both disgusted and repulsed beyond measure to note the immediate immortalization of Mr. Michael Fowler of Loewen Ondaatje McCutcheon Ltd. on this blog forthwith.

Who is Michael Fowler?

"Senior Mining Analyst at Loewen Ondaatje McCutcheon.
Past: CEO at Augen Capital Corp, Vp Senior Mining Analyst at Desjardins Securities, Research Manager and Mining Analyst at Harris Partners Limited.
Education: Cranfield University - Cranfield School of Management, University of Leicester, University of Liverpool."

I'm past speechless so let's hear what mystery man Fowler (I cannot find the man's picture) has to say about Fire River Gold (in the Globe and Mail) first ...

"He also gives the nod to Fire River Gold and Northern Freegold. Fire River has a small, producing mine in Alaska that is in the process of ramping up to full commercial production. The company bought the property and infrastructure on the cheap in 2009 for $3.1-million in cash and shares, but estimates the replacement value of mining equipment and infrastructure alone at $150-million."

And it just goes on and on ...

"Mr. Fowler, who teaches a course on how to invest in juniors at the annual Prospectors and Developers Association of Canada convention, says one approach that minimizes stock selection risk and maximizes the chances of decent returns is to try to time the market. "

The very first step in any possible strategy to minimize stock risk is to NEVER listen to the touts of paid dorkuses of zero ethics right Mr. Mystery Man?

A 13 second reveiw of Fire River Gold reveals two things. First that every asset is pledged with a due date on a 100% fully secured basis in November. Secondly that Loewen Ondaatje McCutcheon Ltd. has loads of paper and these shameless K9s have been touting this deal down from MUCH higher levels.

Very same doggie who said Fire River Gold would be producing 50,000 ozs gold production a year, annual cash flow of $ 36m by 2012, and a conservative target price of $ 1.40?

Mr. Fowler MUST have meant to say LOSING $ 30 million per year and sub $ .10. Pffft.

For shame and I'll bet right now that Fire River Gold is seriously cash strapped again by June and is probably the worse possible krap on the Venture today and will be finished in a score of months.