start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)


Lithium X (LIX.v): Never underestimate the power of a Frank Giustra bullshit pump during a market bull period

In IKN's last update on the Frank Giustra lithium scam Lithium X (LIX.v), we wondered out out loud whether the pump job was already falling flat. That was on January 29th and the stock was at 59c. Let's see how things are today:

How naive I was! How stupid! How did I not see that a scumbag like Giustra doesn't just throw in the towel in on a worthless pumpjob after one round, he doubles down on the bet and gets more people on the payroll to peddle it to the stupid. Now he's even roped in Dundee Securities to offer soft coverage to their client list, man Frank you're good, you're really good. Yes, of course you're a two-faced runt that the world would be better without but what you do and the way you do it? Yeah, you're good at that.

All those people in on the "friends and family" placement back in November 2015 at 15c, including the despicable promo pumpers Tommy Humphreys and Keith Schaefer who don't think twice about ripping off their own subscribers in order to profit from them, are just counting the days before their paper comes out of escrow (late March, just after PDAC, oh what a coincidence). Then it's ka-ching!, then silence will descend and the poor saps roped in won't understand why their stock has suddenly gone South. Viva Howe Street.

At least Tim Oliver had the good sense to see he'd been roped into a scam and resigned from this exercise in retail fleecing before his reputation was sullied by what is about to happen.

PS: Did you ever get round to honouring your Patsy Cline debt, Frank? Or did you weasel out of that, too?

UPDATE: And Tommy can run all the righteous indignation he likes over at CEO CA Chat (thanks for the headsup youknowwho, I laughed hard) but what he can't do is deny his sweetheart "friends and family" 15c share deal. Because that's just plain true. Tommy sold his cute buns to Frank years ago.