Thanks to reader 'NK' for the headsup on this one.
This report in the Ottawa Citizen is ostensibly about the bullshit lithium exploration in its own region, but there are a couple of cut-out-and-keep quotes from the article that should be nailed to the forehead of anyone even thinking about Li junior explorers as a valid investment. The first one comes from a certain Patrick Stratton, minerals market consultant for Roskill Infromation Services, who points out that juniors drill properties to boost share prices even when they don't expect to find anything by saying,
"Saying you are digging around for lithium or rare earth elements is one thing, but actually turning the search into a mine is completely different."For sure there are plenty of people who read IKN that will treat that as just another No-Shit-Sherlock moment, but all the same it's true. However the second quote from the report is a classic. It comes from Michel Lemay, president of a bullshit Li junior known as Stelmine (STH.v) who says,
"It is impossible to increase share prices by drilling because the stock market decides what prices will be."WTF? That's the most ridiculous statement so far this year from a junior miner, folks (and there's a lot of competition for that prize, believe me). Allow me to translate Lemay's thoughts into plain English: "We mining people think that the general public are morons and so we'll tell them any old shit to keep our scams going." I mean, you wouldn't buy a used car from shady operators, so why do you insist on buying worthless stock of worthless companies from the same level of businessperson?