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4/10/11

Dorato Resources (DRI.v) sure suckered Eric Sprott

Did they get you, too?

So according to your humble scribe's rough scratchings, the 881,850 shares of Dorato Resources (DRI.v) that Eric Sprott's Asset Management company had tucked away at the beginning of 2011 were at that time worth $1.36m . Now they're worth $0.502m. Ouch.

It's a good job Eric spreads his holdings around, isn't it? Because owning up to a great fat loss in a scamjob like DRI in the midst of one of the biggest gold bull runs ever would sure be embarrassing otherwise, especially when insiders were busy selling their holdings at the very same time (and prices) that Eric thought such a bargain. Talk about snatching defeat from the jaws of victory, Ericdude, if I were you I'd have a word with the analyst that talked you into buying so much of DRI without having the first clue about the regional political risk that was being taken on board.