Casey Research pump jobs and smearing: How Gold Bullion Development Corp (GBB.v) and Bayfield Ventures (BYV.v) use the same BS

We've done quite a lot to highlight the case of smearing over at Bayfield Ventures (BYV.v) recently, with this post one of many. So when the following mail plopped into your author's mailbox this morning, it seemed best to share with a wider audience:

Hi Otto
 
Just read your blog entry about the BYV smearing issue. About time the BCSC reacts.
 
The BCSC should really look into another Casey pump job - GBB, Gold Bullion Development Corp.
 
Eye through some of their drill results and boy do they know how to make worthless rock look okay-ish.
 
Case in point, drill hole GR-10-173 - 80m @ 1.36 g/t (from 253 m to 323m depth). But take away that 1 m intercept at 322m depth grading 89.83 g/t and you're left with a worthless hole.
 
GR-11-200
GR-10-97
and lots of others.
 
Especially of interest should be the following release, considering hole GR-10-55 where GBB doesn't seem to report the short, high grade interval(s):
 
http://goldbulliondevelopmentcorp.com/html-pages/downloads/news-releases/2010-11-09PressReleaselogo.pdf
 
Maybe you could highlight this on your blog?
 
Best regards

Yes indeed kind mailer, we can highlight this on the blog. 

So in an amazing turn of events, we have two companies, Bayfield Ventures (BYV.v) and Gold Bullion Development Corp (GBB.v), that use the same technique of smearing to make mediocre drilling results look good. And it just so happens that both these stocks have been pumped like crazy to a naïve world by the bullshit hype merchant Louis James of Casey Research (check here and here for the background to the Casey pumpjobs on GBB.v, noting how first Lobito tips off the premium customers of Casey and then gets the lower-level higher volume Intl Spec subscribers into the stock later...another scam laden modus operandi at the little shop of horrors).

So BCSC OSC and all your merry friends, you've clamped down on Bayfield's bullshit and maybe just maybe it's time to take a good look at this other operation doing the same thing over at GBB.v? And while you're at it, if you really want to clean up the street it really is about time you looked into the common denominator of these scams. If you need a hint, they work out of Vancouver and their boss just loves Argentine real estate.

The Allied American Steel (AAST.ob) scam, five days later

In this linked post on Monday, IKN alerted you the the Allied American Steel (AAST.ob) bullshit criminal  scam run by the worst sort of scumballs (yeah, even worse than Wistar Holt, who's only trying to rip off goldbugs and therefore has mitigation on his side). So that was Monday and today is Friday so let's check in on the price chart development:

Oh looky, 50% down in one trading week. We'll leave the in-depth comment to Owly on this one, methinks:

DYODD

Mo' Richard Fifer

A lot of very interesting feedback and reaction to the post yesterday on Richard Fifer, chairman of Petaquilla Minerals (PTQ.to) so far, and for what it's worth I've spent a good chunk of this morning forwarding the original PDF to people (perhaps people with a slower download link speed are having the problems, because others get to download the 4.9Mb PDF without grief).

One point raised by a couple of mails has been "OK he did prison time for cocaine dealng but dude, it was 1975, he did his probation and may have turned over a whole new leaf" or words to that effect. Well maybe, as long as he had by then turned over a new leaf by and since then has been an upstanding member of the bizworld. Unfortuntely for the people who have had dealing with Fifer since his drug dealing days that's a crock, so next up we'll show you how he tried to defraud another member of the Panama mining community to the tune of nearly U$500,000 in the 1990's (with all the necessary documentary evidence, of course) and only got reeled in by the courts six years after the scam he pulled. New leaf my ass. Watch this space.

American Power (AMPW.ob), a scam and today's most obvious shorting opportunity

Why so? Here's so. Today your author was sent the pump on this link for AMPW.ob by kind reader 'KF' who added "Who buys this shit?". The answer, KF, is that the foolish and the market naive are the prey for people like John Myers and Johannes Petersen.

The basics: Click that link above and check it out for yourself but what you get is the utter scumbag John Myers pumping American Power (AMPW.ob) and talking about 5000% gains and all sorts of ridiculous junk about how Rio Tinto is going to take them over and this and that and red letters and E!X!C!L!A!M!A!T!I!O!N!S! all over the shop and and and etc etc etc. Amongst the tosh and balderdash you also get the link to the American Power website that (almost goes without saying these days) greets you with an image of the Stars'n'Bars. So all the redflag boxes already being ticked off nicely. But then with about a minute's extra looking you get to see that:

1) The man behind AMPW.ob is none other than Johannes Petersen. The same name behind Gold American Mining (SILA.ob).

2) It may be a bizarre coincidence, but AMPW.ob boasts of the same kind of financing deal-that-is-not-a-deal with the same European back as SILA.ob.

3) And it may be another bizarre coincidence, but the last time we looked at the scumbag John Myers he was pumping a stock called Gold American Mining (SILA.ob).

So let's see how SILA.ob has got on since we ran our post entitled "Gold American Mining Is A Scam" on August 18th:

Hmmmm......not living up to the hype, is it? but back to AMPW.ob and if you check the SEC filings on this dog you'll see even more horridness, for example the latest annual report out Jan 13th 2011. There you'll note negative working cap around half the stock held by Petersen, the reality of its assets (nowhere near as pleasant for longs as Myers' views) all the usual checkboxes of these scams.

At its current $1.15 share price, this box of nothing has a market cap over $104m. A more obvious short is hard to find. DYODD.

Canada's toothless regulators

Yes you, OSC

Yes you, BCSC

Yes you, ASC

David Baines does his normal wonderful job of work in this report, entitled "Where have all the regulatory lions gone?" looking at the toothless regulatory bodies that are supposed to keep the Canadian mining scamsters in check but, as ever, are found to come up woefully short. Please read the whole article because every word counts, but here at IKN we'll just extract the last line of Baines' report because it resounds on so many levels. The "lions" he refers to are the regulatory boards and its staff. In Texan English, it would translate as 'All hat no cattle'.

"My goodness, where have all the lions gone? Underneath the roar, there really isn't much bite."

DYODD, dude.