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11/30/17

Bunker Hill Mining (BNKR.cse), formerly known as Liberty Silver: Bobby Genovese's latest flop

An interesting piece of intel passed this desk today. Bunker Hill Mining (BNKR.cse), which is the new name for the Bobby Genovese scam stock Liberty Silver, is having all sorts of trouble in raising money for its new project but as usual, the man accused by the SEC of securities fraud is trying to mask the cruel reality behind layers of BS. 

On November 20th BNKR ran this NR in which it claimed that "due to demand from investors" it was upsizing the current private placement from $5m to $8m. However, before that move BNKR had only sold and $1.7m worth of stock and so far at least, they've had scant extra interest for this offer (even though it's priced at $1.25 and you get a half warrant thrown in, all a big discount to the current (and rigged) market price. Not only that, but the few shares they've managed to shift are mainly to Howard Katz, a pally pal of CEO Bruce Reid from the old Research Captital days (Katz must owe him some sort of favour). This lack of love for scamster Bobby G's latest scheme is backed up by the fact that this placement was supposed to have closed on November 23rd, but here we are a week later and the silence is deafening.

The problem with all this? Well, almost the moment they close the PP Bunker Hill will have to pay $1m to the current owners of the mine for the options deal, leaving them with a thin treasury to do Bobby G's normal things (e.g. pay large sums of money to James West to pump the stock to idiots).