Mo' Alange Energy (ALE.v)

Setty keeps on the ball with the unfolding ALE.v trainwreck and the downfall of its CEO Luis Giusti, a man whose company personnel believe holds a "sign of honour" because he was booted out of PDVSA by Chavez. Has it occurred to you that he might have been booted out of two jobs for being a bullshitter, not just one?

Anyway, Setty's post is cool because he even gets in a dig about that huckster and BS artist supreme, Thom "not-guilty-of-securities-fraud-because-the-SEC-and-I-settled-out-of-court" Calandra. Go see.

Medoro Resources (MRS.v): Quick Frank, roll out the monkeys again!

You tell him, Thom

Well, it's not working is it Frankie? You tried back in April with the Can of Corn plus Thom Calandra trained monkey attack, but your ridiculously expensive, laughably overhyped and clearly undertruthed Medoro (MRS.v) just can't seem to keep enough Viagra in its system.

So c'mon Frankie, get on the phone! Tell them Zeds to do something! Offer yer man Thom a few more worthless warrants! You know it makes sense, man!

Bellhaven (BHV.v)

Now that the trained monkey, knownothing on LatAm miners, proven liar and frontrunning crudball named Thom Calandra has played his typical pump and dump bullshit on Bellhaven Copper & Gold (BHV.v) and left his sheeple hanging out to dry (as usual), it might be time to take a second look at this stock.

Today's 21.5c looks closer to a decent entry point. IKN Weekly subscribers know more about this stock than most, btw. Disclosure: no position in BHV.v. DYODD, dude.

Frank Giustra's trained monkey gets in on the desperate Medoro (MRS.v) pumping

As we've already pointed out here at IKN, Medoro Resources (MRS.v) now finds itself with a hatload of problems regarding its takeover of the Frontino Gold Mine in Colombia. With local unions and the town itself getting legal on Medoro and telling them they cannot possibly be buying the asset because they are the owners and they ain't selling, this one will be dragging through Colombia's courts for years on end.

MRS.v has already tried to throw stardust in the eyes of the masses by wheeling out a Gov't minister or two to tell people the gov't supports Medoro in this fight. Unfortunately what Giustra, Keep and their cronies failed to tell people on that one was the gov't has and will have no say in this matter; it's a legal battle in store and the Colombian courts are (famously) separate and independent of Uribe&Co's way of thinking. This didn't stop The Can of Corn trying to pump the thing a few days ago (as noticed on the blog), but the balloon is getting tired and the deflation picked up speed yesterday:

So what does Franky G do to remedy this? Why, he gets his trained monkey Thom Calandra to make up shit and pump it to the sheep at Stockhouse. Here's what Thom Cassandra wrote yesterday evening to his Tickertrax flock of ignorants:

"More congratulations: Medoro Resources (TSX: V.MRS, Stock Forum) appears to have locked in the Frontino Mine, the pension-troubled yet lush and historic mine below the town of Segovia in Antioquia. Congratulations to consultant Serafino Iacono, who helped engineer the $200 million pending purchase – pursuant to due diligence, Medoro CEO John Hick tells me. We here have been following Medoro as a gateway into the world of Colombia mining since its predecessor at El Marmato, Colombia Goldfields. We own the shares via an ill-timed purchase of Colombia Goldfields shares several years ago at insanely high prices."

Yeah, that's right: the stock slides 8.9% (and was only saved from much worse by a last-minute bailage) but in the weird world of the shill Calandra this is cause for congratulations. He doesn't mention a thing about the legal battle that is already out there and will only get worse; no, this supposedly independent commentator ignores all the opposite side and just runs with the direct party line from his geldmeisters over at Endeavour Fin. Total, one-sided bullshit and a disgraceful exercise in palming off crap to people who don't know better.

At least Cassandra admits the snafu he made on buying the previous Frontino incarnation, Colombia Goldfields. What that shows you is that Cassandra really has no idea of what he's talking about when it comes to the structural company backgrounds of Colombian miners, so even when he proudly announces that he's putting his money where his mouth is (and even then his track record suggests his word is utterly untrustworthy) you have no idea whether you're following him in to a live prospect of just another overhyped POS.

Calandra has the track record of a fraudster and has deeper agendas with big money people, so you'd better be very careful about what he's telling you, dear investor.

Thom Calandra and Ecometals (EC.v): Birds of a feather

The Ecometals/Goldmarca 10 year chart: Notice anything slightly suspicious about
its share price movements? If you don't, I have this great bridge
for sale so drop me a line and we can discuss details.

La plus ça change.........

After yesterday's post on the subject, this humble scribe actually got round to reading the 2005 SEC complaint against Thom Cassandra last night (instead of just the litigation letter). And hoodathunkit!! Would you believe that he was in cahoots with Goldmarca, the company that later decided to completely change its way of doing things (oh yes oh yes whatever makes you doubt that?) just by changing its name to Ecometals (EC.v) and pretending the past never happened? Cut to 2010, Cassandra is running the same kind of newsletter as he was when shopped and Ecometals/Goldmarca continues to scam the market with its bullshit about being the next Aurelian here, and sales of properties that never happen there, and sales of manganese that never happen over there.

Strange how these crooks seem to attract each other, innit? Here's the relevant extract from the SEC complaint. In point of fact, the Goldmarca deal was a minor act compared to the rest of the illegal trades Cassandra was pulling (known as scalping), but the fact he was mixed up with these Ecometals scamsters and that company is still getting away with its bullshit is almost too funny so let's just run with this example:

"In addition to his scalping transactions, Calandra received undisclosed consideration in the form of substantially-discounted stock from two companies that he profiled in TCR (The Calandra Report), Goldmarca and IMC Ventures. Calandra purchased discounted shares in Goldmarca and IMC Ventures from a Canadian stock promoter that Calandra knew was associated with both companies. On October 28, 2003, Calandra purchased 155,000 shares of Goldmarca at $0.23 per share, a 39% discount from the market price of $0.38 per share. Similarly, he purchased 70,000 shares of IMC Ventures on the same day, at the discounted price of $0.37 per share, a 59% discount off of the company's market price of $0.91 per share.

Calandra then provided the companies with positive publicity in TCR. He wrote on multiple occasions about both Goldmarca and IMC Ventures, but never disclosed his receipt of discounted shares to his readers.

As in his other scalping transactions, Calandra sold the majority of his shares of Goldmarca and IMC Ventures immediately after touting the companies in TCR, making total profits of $52,022.75 and $61,496, respectively.

Mining news from Colombia, the new politically riskless zone according to Thom Calandra and other mining analyst idiots

Ok, folks, let's play Spot The Difference: Can you see any slight discrepancy between this press release from Medoro Resources on March 31st:

TORONTO, March 31 /CNW/ - Medoro Resources Ltd. (TSX-V: MRS) is pleased to announce that it has signed an asset purchase agreement (the "Agreement") with Frontino Gold Mines Ltd. ("Frontino") represented by its duly appointed and legally confirmed liquidator and legal representative, Mr. Luis Fernando Alvarado, to acquire all of the assets of Frontino, located near the city of Segovia, approximately 220 kms north of Medellin in Antioquia, Colombia. The Agreement has been authorized and approved by the advisory board of Frontino, which includes the Liquidator. CONTINUES HERE

And this press release from those calling themselves the true owners of Frontino:

SEGOVIA, COLOMBIA--(Marketwire - April 5, 2010) - This press release is in answer to the public statement of the Canadian company Medoro Resources, dated 31-March-2010, in which Medoro claims to have signed a purchase agreement for the assets of Frontino Gold Mines (Colombia).

"On behalf of the worker's union, the creditors, and the people of Segovia, who are the legal owners of Frontino Gold Mines - we do not know of any such agreement, nor will we recognize any such agreements," said Dairo Alberto Rua, Presidente, Sintramienergetica of Segovia.

"I believe the same statement by Medoro also suggests that Medoro has other plans for workers currently employed by Frontino Gold Mines. On behalf of the entire population and the worker's union, will firmly and decisively oppose any such plans by Medoro," said Alfredo de Jesus Tobon Alvanes, Presidente, ASOACREF.

"We know exactly the worth of Frontino Gold Mines, and will not allow Medoro and persons to take our assets at a price that is a tiny fraction of its true value," Dairo Rua continued.

"On behalf of the owners of Frontino Gold Mines, we want the world to know that we will never accept any such agreements with Medoro, whose behavior has caused great upset, concern and unrest in the area. We believe that Mr. Luis Fernando Alvarado Ortiz and Medoro Resources are trying to create chaos and fear in the mining district of Segovia," said Alfredo de Jesus Tobon Alvanes.

"Only a general assembly of the current creditors (shareholders) can make any decisions in regards to the assets of Frontino Gold Mines. It is very clear that Mr. Luis Fernando Alvarado Ortiz is neither a creditor nor an owner of Frontino Gold Mines and therefore has no right to make decisions," said Alfredo de Jesus Tobon Alvanes. "Our ownership rights are fully documented by a number of legal deeds."

"A criminal complaint against Mr. Serafino Iacono has been filed with the Prosecutor General of Colombia for alleged false and malicious statements made against the workers and owners of the assets of Frontino Gold Mines," said Mr. Rua.

"A coalition consisting of the workers, owners, and creditors of Frontino Gold Mines, along with the Segovia City Council and the people of the region, strongly and unanimously reject the attempts by Medoro Resources to take what is rightfully and legally ours, and demand that our voices be heard and that the law be respected," said Mr. Rua.

For more information, please contact

"SINTRAMIENERGETICA" Sectional, Segovia
Dairo Alberto Rua
President
Cell: 313 645 4601 / 311 333 9560
dairorua@hotmail.com

But of course, Colombia is this wonderful new, shiny heaven for Canadian junior miners, isn't it? You see, this is the kind of crap company that the fraudster Thom Cassandra* pumps to his greenhorn flock, as according to that illegal trader anything that Frank Giustra touches turns immediately to gold. I vomit.


UPDATE: Answering a reader's mail. Yes, when I used the words "fraudster" and "illegal trader" to describe Calandra I wasn't joking. Here's the SEC litigation release:

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 19028 / January 10, 2005

Securities and Exchange Commission v. Thom Calandra, Case No. C05 00135 JCS (N.D. Cal. filed January 10, 2005)

SEC BRINGS FRAUD CHARGES AGAINST FORMER CBS MARKETWATCH COLUMNIST THOM CALANDRA FOR ILLEGAL TRADING SCHEME

The Securities and Exchange Commission today brought and settled civil fraud charges against Thom Calandra, a former columnist for the Internet website CBS MarketWatch.com. The Commission alleges that Calandra profited by secretly selling stocks shortly after his investment newsletter's positive recommendations of the stocks caused their prices to rise. In settling the matter, Calandra, who lives in Sausalito, California, will pay over $540,000 in disgorgement and penalties.

According to the Commission's complaint, filed in the Northern District of California, Calandra made over $400,000 in illegal profits through a practice known as "scalping"-buying shares of thinly-traded, small-cap companies, writing highly favorable newsletter profiles recommending the companies to his newsletter subscribers, and then selling the majority of his shares when the increased demand generated by his favorable columns drove up the stock price. From March to December 2003, Calandra followed this "Buy-Write-Sell" pattern for 23 different stocks that he covered in The Calandra Report, without disclosing his actions to his readers.

In addition, the Commission alleged that Calandra failed to tell his readers that he had received compensation from a stock promoter affiliated with two mining companies that Calandra profiled in The Calandra Report. The compensation took the form of heavily-discounted shares in the two companies-shares which Calandra later sold at a substantial profit after the stock prices rose following his favorable newsletter write-ups.

Calandra, without admitting or denying the allegations in the Commission's complaint, has agreed to a permanent injunction from further violations of the antifraud provisions of the federal securities laws (Sections 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder), and from further violations of Section 17(b) of the Securities Act of 1933, which prohibits the non-disclosure of compensation received for providing publicity about a security. Calandra also will disgorge $416,109.58 in illegal trading profits and prejudgment interest and will pay a civil penalty of $125,000.

But hey, this is 2010 so feel free to trust the dude now that he's doing something completely different with his time these days by..... errr........ writing highly favorable newsletter profiles on thinly-traded, small-cap companies and recommending the companies to his newsletter subscribers.

*According to the Greek myths, after being cursed by Apollo nobody ever believed Cassandra's predictions again. source.