Some interesting mailbag in after yesterday's post on how Greg McCoach was pumping both Explor Resources (EXS.v) and his own $2,000 per year newsletter. I've had permission from both mailers to reprint here, so first up is an extract from reader 'PP' mail yesterday with..
"...quite right about the repeat performance of McCoach and EXS Otto and he did the same kind of adverts last year. As well now he has several other adverts on the web for the same service not just the one (ottonote: "Massive Gold Formation" "A Little Known Gold Mining Company Has Discovered Something Big") you mentioned. Another is Massive New Gold Find that goes with Little-Known Company Makes BIG Gold Find that I saw yesterday. There are others I've seen but they always click you through to wealthdaily.com and the PDF report you talked about."
(Bold type added). I think it's worth pointing out that reader PP mentioned he tried McCoach's service last year, paying $500 for three months of letters but did not renew. Then this morning, reader 'JR' sent over this (extracted):
At the last PDAC show and the Calgary Cambridge House show, McCoach was unabashedly pumping Explor to the audience. It sounded like a 30 minute advertisment for the company.
I began to think: Is this an independent analyst/newsletter writer.
How about a little disclosure here Greg: Do you own any position on Explor? Are there any conflicts of interest?
This guy seems able to duck from such things as "Forward Looking Statements"
What are our regulators doing to ensure full disclosure/muzzle this guy?
Kinda makes you think, doesn't it? McCoach must have got good results from the previous 2009 campaign if he's investing in several different internet advertising campaigns this time around (and it must cost a pretty penny too, as each time somebody clicks on one of those adverts it costs him money). Also, if he's devoting 100% of his showtime at the big conferences like PDAC to pumping this junior goldie (sidebar: PDAC on March 6th coincided with the EXS.v disappointing results on March 4th noted in yesterday's post) you kinda get the feeling he has serious skin in this game. I dunno...maybe I'm just imagining things. DYODD, dude.