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1/13/16

Mailbag on yesterday's Peter George post

After yesterday's post on the news about iffy geol Peter George, the following mail was received by IKN Nerve Centre from reader R, an industry pro and mailpal of long-standing. Permission sought and received to publish here because it's excellent comment, some very slight editing done to protect both innocent and guilty. 

I'll leave you with Reader R:

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Good post on Peter George. 
The puny fine ($35K) when compared to the market cap collapse of BGM, SGR and RMX (PVG has continued to tap dance) speak to a toothless judiciary. That he has been banned from authoring a new mineral resource or reserve under 43-101 is simply laughable. What management or board in their right mind would consider retaining his service? What good is the Society of Professional Geologists if a series of clearly substandard reports can be published over the course of some years before the crime is even spotted, let alone held to account?

And what of the culpability of each of the Company’s respective management, Boards and advisers who not only accept these reports but act on them? Is universal incompetence now considered a viable defense? All those who were involved and in fact had their hands deeper into the proverbial cookie jar are free to work within the sector with impunity. 

I submit it is a scenario for the perfect white collar crime. Consider those that have gone completely undetected such as the teams behind (three company names redacted), to name a few. 

Make no mistake, there are thieves amongst us gentlemen.