Bayfield (BYV.v) does the Casey Shuffle

We've already noted how in late August and early September Casey Research pumped Bayfield Ventures (BYV.v) first to its "A list" of higher paying subscribers and then to its Proles List of normal paying subbers and while doing that, even had the gall to say to the high-paying list that they'd be reco'ing the stock to the other-bigger list in a few days time (and if that isn't blatant frontrunning I'd like to know what is, ladies and gentlemen of the BCSC/OSC).

But what we haven't tracked is the share price action in the stock since then, so here's the chart.

Oh look! Bayfield Ventures has slumped back to the low 80's already! What a shocker!

On the back of what looked and was promo'd as some good, mine-making slamdunk type holes, BYV zoomed into the stratosphere in early September. Then, amazingly, two things happened:

1) BYV.v ran a $5m bought deal placement at $1.40 per flow-through share (note: FT shares can be priced slightly higher thanks to tax break rules in Canada). My stars, wasn't that timed well!

2) The insiders decided it was a great time to start selling! Yes, amazingly enough the NRs that came out in machine-gun fashion in September was über bullish and the pumped-up bullshit coming from Casey&Co was all about "slam dunk takeovers" and such, but when push came to shove the people that REALLY know the significance of those early holes, i.e. the company CEO and the company exploration manager, were quick to want to bail out. Here's what insiders of BYV.v have done since the Casey-plus-drillhole hype hit the screens.

Jim Pettit Chairman & CEO

1655899 2010-06-14 2010-06-16 Direct Ownership :  51 - Exercise of options +177,000 0.1200   277,000

1703457 2010-09-07 2010-09-17 Direct Ownership :  10 - Acquisition or disposition in the public market -20,000 1.1000 257,000

1703458 2010-09-08 2010-09-17 Direct Ownership :  10 - Acquisition or disposition in the public market -20,000 1.2100 237,000

1703459 2010-09-08 2010-09-17 Direct Ownership :  54 - Exercise of warrants +40,000 0.3000   277,000

1703460 2010-09-09 2010-09-17 Direct Ownership :  10 - Acquisition or disposition in the public market -30,000 1.1000 247,000

1703461 2010-09-10 2010-09-17 Direct Ownership :  10 - Acquisition or disposition in the public market -20,000 1.1800 227,000

1703462 2010-09-10 2010-09-17 Direct Ownership :  51 - Exercise of options +75,000 0.1200   302,000

1703466 2010-09-13 2010-09-17 Direct Ownership :  10 - Acquisition or disposition in the public market -15,000 1.3000 287,000

1703471 2010-09-15 2010-09-17 Direct Ownership :  10 - Acquisition or disposition in the public market -8,000 1.1400  279,000

1707288 2010-09-21 2010-09-24 Direct Ownership :  51 - Exercise of options +104,900 0.1200   383,900

1707291 2010-09-21 2010-09-24 Direct Ownership :  51 - Exercise of options +15,401 0.1250   399,301

1707293 2010-09-21 2010-09-24 Direct Ownership :  51 - Exercise of options +13,000 0.2300   412,301

1719620 2010-10-12 2010-10-15 Direct Ownership :  11 - Acquisition or disposition carried out privately -10,000 1.0300 402,301

123,000 sold for $141,720

Warrants cost $12,000 to exercise

Options cost = $26,503 to make whole

Pre-tax cash profit:  $103,217

Change in full shares position since August: +300,000

Robert Marvin, Exploration Manager

1713344 2010-09-29 2010-10-05 Direct Ownership :  51 - Exercise of options +100,000 0.4300   100,000

1713347 2010-09-29 2010-10-07 Direct Ownership :  10 - Acquisition or disposition in the public market -45,000 1.0500   55,000

1725305 2010-10-21 2010-10-27 Direct Ownership :  10 - Acquisition or disposition in the public market -55,000 0.9650   0

1725306 2010-10-26 2010-10-27 Direct Ownership :  10 - Acquisition or disposition in the public market +25,000 0.8000   25,000

$43,000 to exercise

Sales $100,325

Buyback cost $20,000

Pre-tax cash profit:  $37,325

Nancy Ackerfeldt, Corp Sec

1699675 2010-09-07 2010-09-10 Direct Ownership :  51 - Exercise of options +45,000 0.1200   100,000

1699678 2010-09-07 2010-09-10 Direct Ownership :  10 - Acquisition or disposition in the public market -10,000 1.1600   90,000

Exercise cost $5,400

Sales $11,600

Pre-tax cash profit:  $6,200

Donald Huston, President

1703415 2010-09-14 2010-09-17 Direct Ownership :  51 - Exercise of options +75,000 0.1200   217,500

1703417 2010-09-14 2010-09-17 Direct Ownership :  51 - Exercise of options +15,500 0.1200   233,000

1703419 2010-09-14 2010-09-17 Direct Ownership :  51 - Exercise of options +44,000 0.1200   277,000

1703421 2010-09-14 2010-09-17 Direct Ownership :  51 - Exercise of options +20,000 0.1200   297,000

1703424 2010-09-14 2010-09-17 Direct Ownership :  51 - Exercise of options +25,000 0.1200   322,000

1703425 2010-09-14 2010-09-17 Direct Ownership :  51 - Exercise of options +15,000 0.1250   337,000

1703429 2010-09-14 2010-09-17 Direct Ownership :  51 - Exercise of options +13,000 0.2300   350,000

1703432 2010-09-14 2010-09-17 Direct Ownership :  10 - Acquisition or disposition in the public market -30,000 1.2700 320,000

1707155 2010-09-17 2010-09-24 Direct Ownership :  10 - Acquisition or disposition in the public market -20,000 1.2100 300,000

Options exercise cost $23,355

Sales brought in $62,300

Pre-tax cash profit:  $38,945
Change in full shares position since August: +157,500

Donald Myers, Director

1699690 2010-09-08 2010-09-10 Direct Ownership :  51 - Exercise of options +118,000 0.1200   168,731

1699692 2010-09-08 2010-09-10 Direct Ownership :  10 - Acquisition or disposition in the public market -35,000 1.1770 133,731

1699695 2010-09-09 2010-09-10 Direct Ownership :  10 - Acquisition or disposition in the public market -37,500 1.0833   96,231

1699696 2010-09-10 2010-09-10 Direct Ownership :  10 - Acquisition or disposition in the public market -7,500 1.1600   88,731

Options exercise $14.600

Sales  $90,518

Pre-tax cash profit:  $75,918

 3) The price slumps back post-bullshit hype closing yesterday at 82c, which is (for example) 32.3% lower than the point where company CEO Pettit sold 20,000 of his shares during his serial selling spree. Funny dat too, innit?

Again, if it were just one seller you'd be inclined to give benefit to doubt. But five insiders, all selling the same time on the same hyped-up pump from the scamsters at Casey Research, brought in especially to create the necessary liquidity? Gimme a break here, willyaz?

Mailbag

Just a quick note to say that David Galland of Casey Research got round to mailing your humble scribe last night after getting his memory jogged in yesterday's post. I'm not the type of person to reproduce private mail in the public sphere so the exchange will not get to the blog without permission from the other party*, but suffice to say that Galland decided not to answer the question posed to him. Rather, he concentrated his efforts on erroneous opinions of the character and motives of your author. Put simply, I was neither impressed nor surprised.

Thus endeth this chapter.


*however if Galland writes again and gives permission you'll see the whole thing

Two totally separate subjects in one post

Regarding bullies, there's some good advice for parents and children right here. Here's an excerpt:

"Bullies often pick on someone they think they can have power over. They might pick on kids who get upset easily or who have trouble sticking up for themselves. Getting a big reaction out of someone can make bullies feel like they have the power they want. Sometimes bullies pick on someone who is smarter than they are or different from them in some way. Sometimes bullies just pick on a kid for no reason at all."

Go over to the link for more. There's strong, practical advice on how to stand up to people that try to throw their weight around, pick on smaller fry and attempt to cow them into submission using dubious logic.

In other news, it's strange to note that after the IKN post on Casey Research and its Two Tier system of subscribers (the top tier getting buy advice way before the second tier), Casey Research's David Galland was so very fast in sending in his rebuttal (before 7am the very next day, in fact). However, since IKN ran a critique of Galland's mail (that was published with due permission from the author) that showed up severe deficencies in the arguments put forward by the "selective memory" (let's say) of Casey's Louis James, your humble scribe has had to wait for comment from Galland for two days without a peep as yet, even though there was a question directly asked of him. Let's repeat that question here, just to make sure it gets through:

Does the (above) evidence suggest that Louis James has
been telling lies in order to cover his tracks, David?

And here's the chart that accompanies the last post, just by way of a reminder:

We're looking forward to a response. After all, getting both sides of a issue is important and we're always willing to give Galland room here. So don't go all shy on us all of a sudden, David...it's not like IKN is bullying you in to a response or anything :-)