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2/14/17

Conclusive proof that Marin Katusa is insider trading Northern Dynasty (NAK) (NDM.to)

And it comes from his own pen, the stupid freakin' idiot. Here's an excerpt from what Marin Katusa wrote to subscribers this afternoon as part of his rebuttal against the Kerrisdale Capital short position in Northern Dynasty (NDM.to) (NAK), revealed this morning:
"Essentially the fund makes a claim that the deposit is worthless. Having been to the project with David Lowell, one of the world’s best geologists, and personally been in the data room, I think the project is the opposite of worthless. I put millions of my own money into the company for a reason”
Get that? If you didn't, allow me to point to the key phrase; "...and personally been in the data room". This is also a claim he's made on numerous occasions at conferences and talks when pumping NAK to his dumb flock, but chatting off-record is one thing, seeing him so desperate to defend his BS P&D trade by putting it in writing is quite another. People, what's in a company's data room is for two types of people:
  • Company officers or employees
  • People who have signed a non-disclosure agreement/confidentiality agreement
Katusa is not a director, officer or employee of NAK. And if he's signed a NDA/CA, he's broken it. And if he hasn't signed one NAK should never have let him in the data room and NAK is in big trouble. And he's trading NAK on the back of non-public material information. Not only is that plain straight illegal, but he's also generating subscription revenues by boasting about it to the public market and making even more money illegally.

It's about time Canada shut down this illegal trading and pumping of stocks. Somebody from the OSC, BCSC, IIROC, anyone with the requisite cojones now has a prime opportunity to slap  one of its worst protagonists where it hurts. His name is Marin Katusa and he's an illegal insider trader making ill-gotten gains from his sordid modus operandi.