Monday, October 7, 2013

Regarding what I just posted about the exploreco world on Friday....

IKN posted tonight about this fellow Lawrence Page from Manex, who's trying to organize "Operation Survival" on behalf of all the 1500 or so utterly worthless explorecos out there.

As IKN notes, in 2012 alone he made $720k off of just four of his Manex companies.

That's about equivalent to the market cap of his Valterra Resources, by the way. I wonder how Valterra bagshareholders feel about that.

I'd add that both his Homestake and his Valterra have done little private share-exchange agreements with one Global Resource Investments Ltd., aka Rick Rule. So it's not like Page is having a hard time raising capital.

All I have to say, I said on Friday night. Go read it, Lawrence Page, Rick Rule, and anyone else out there who is pulling a snit about having to pay a few grand a year to fleece the sheep on the Venture.

Maybe I should forward a copy of that post to every MP in Parliament tomorrow. After all, healthy debate is the cornerstone of democracy, no?

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