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!

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.

Andre Agapov and things

Well, I think we all need to read this story in The Vancouver Sun today. Thank you reader RO for passing this on. I'm going to paste the first half and leave the link so you can read the second half over at the original source, and then read it through myself a third time while sipping the morning java.

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Vancouver mining company CEO linked to Thai bank collapse

By David Baines, Vancouver SunMarch 14, 2009

The chief executive officer of a Vancouver-based junior mining company that is closely associated with Vancouver mining magnate Frank Giustra has been accused by the Thai government of plundering millions of dollars from the now-defunct Bangkok Bank of Commerce, according to documents obtained by The Vancouver Sun.

Andre Agapov, a Russian national who is now living in London, is CEO and a director of Rusoro Mining Ltd., which is based in Vancouver and trades on the TSX Venture Exchange.

In a request for assistance issued to the U.S. government in March 2002, Thai authorities named Agapov as a co-conspirator along with Krekkiat Jalichan, the bank's former managing director, and Jalichan's former adviser, Rakesh Saxena, as well as numerous others, in a scheme to defraud the Bangkok Bank of Commerce of hundreds of millions of dollars in the mid-1990s.

Giustra, who has become fabulously wealthy promoting mining deals throughout the world, and his right-hand man, Gordon Keep, have had a close business and financial relationship with Rusoro, initially through their publicly traded merchant-banking firm, Endeavour Financial Corp., and more recently through their private financial advisory firm, Fiore Capital Corp. In an interview this week, Keep said he became aware of the allegations against Agapov in a report done by a private investigation firm at the request of a U.S. investment banking company about three years ago. He said the report addressed the allegations, but because it is confidential, he declined to provide details. He said he also made other inquires, but once again declined to provide details. "The net result is that I felt comfortable dealing with Andre," he said, adding that, as far as he can determine, Agapov has acted appropriately as a senior officer and director of Rusoro.

Giustra declined to discuss the matter.

Thailand's current position with respect to its charges against Agapov is not clear. Several years have passed, and there have been frequent regime changes in Thailand. Agapov was out of the country last week and could not be reached for comment. It is clear, however, that Thailand has been pressing its cases against the other accused. Last September, Jalichan was convicted on corruption charges relating to the bank scandal and sentenced to 20 years in prison. Last week, he was convicted on more charges and handed an additional 20-year sentence. At least four other people implicated in the scandal have also been imprisoned.

Continues here