start here

start here

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

I say things on Twitter


Allan Barry Laboucan entrenches

I've been asked about the recent goings on at Alset Minerals (IOV.) and specifically about the volume and price spike. Well, that's easy to explain, that was the people who proposed the $1.2m placement picking up more shares on the open market as a show of good will on the agreement with the board.

The problem hit when the useless gum-flapping idiot CEO Allan Barry Laboucan refused to step aside, his resignation a key stipulation for the deal because the group buying in aren't stupid and know how pathetic and useless he is. They would have also immediately reversed Allan Barry's ridiculous oversized land grab that has seen ION take on way too many concession hectares and has opened the company up to massive land upkeep payments this year, something it cannot afford.

What happens now is simple and it's all due to Allan Barry. The company will raise no more money, because nobody with a modicum of business sense will walk willingly into a company run by its desperate, greedy, self-serving CEO who is now using the classic Vancouver playbook to rape Alset from within. ION then run out of money and Barry starts accruing his crazily outsized salary on the liabilities sheet. This continues until the share price caves to near zero, the board do a shares-for-debt to clean the salary liability away, current shareholders are first crushed and then the inevitable rollback dilutes them to kingdom come.

All of which is totally unnecessary, all shareholders need to do is kick out the fool in charge and the new broom that wants to move in will capitalize and support the company, re-boot its operations and maybe (if they're lucky) make a winner out of this utter loser run by an utter loser parasite.