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12/20/13

The random nature of TSX delisting reviews

A couple of kind readers have nudged IKN Nerve Centre towards the news this morning that the TSX has placed Colossus Minerals (CSI.to) on delisting review. Which is fair enough I suppose, considering what we know now, but it does make you wonder just how the TSX decides on which companies to consider for delisting.

Take for example Liberty Silver (LSL.to), a company that's an obvious scam, run by an obvious scumbag in Bobby Genovese and has crashed and burned even more than CSI. But there's also the mysterious way in which it was given a full TSX "dot tee oh" listing straight off the bat. And the way in which TSX bigwigs were supposedly brought onside by the fetid slime that is Genovese (many rumours abound, all of which revolve around the transfer of currency) in order to secure that listing before the big rip-off pump began. And the way in which it never stood a hope in hell with its bullshit property, unlike CSI (hey, 20/20 and all that but at least Serra Pelada looked like a potential mine for a while).

So why is the TSX chasing after the likes of Colossus Minerals and studiously ignoring the type of stock it should have delisted many moons ago? The random, discriminatory and biased nature of these black box decisions makes the TSX bigcheeses look suspect, that's minimum.