start here

start here

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


First Mining Finance (FF.v): Yet more dilution, yet another piece of moose pasture

You would have thought that even Keith 'Bantamweight' Neumeyer would have got the message by now, but apparently not. Despite a price chart that compares to the real junior miners like this...

...he continues to dilute his suckers shareholders to kingdom come, today adding another 2.54m shares to the count by buying a property from Brionor (next to the other überdog thing he picked up recently, Clifton Star, the reason behind last week's fisticuffs...poor guy can't take a joke). Anyway, that puts the FF.v shares out at 358.6m pro rate, up from 73.8m less than a year ago. Crazy, zero respect for the people paying his wages (and his juicy deal bonuses, of course).

An old man's broken model, nobody's falling for your smoke and mirrors any longer Keith. If you don't believe me, take another good hard stare at that price chart above. Seriously, what's the point in plonking down cash into a risky junior story if you get a far better return from good old gold bullion? You guys are supposed to run positive beta to the underlying metal, not negative!