Mercer Gold (MRGP.ob) does what all scams do in the end

The typical junior mining scam such as Mercer Gold (MRGP.ob) that's pumped by paid newsletter tripe suddenly swandives and dumps out on no apparent newsflow. This is because the scum behind it, in this case previously convicted securities fraudster Gordon Brent Pierce, decide to pull the plug and get out with whatever's left over. Meanwhile the poor bagholder innocent are left wondering WTF is going on.

and don't say we didn't warn you about this stupid, obvious junior mining BS play headed up  on paper at least by the unspeakable Rahim Jivraj. Because we did. Over and over and over again.

So what's your favourite part of the latest Mercer Gold (MRGP.ob) quarterly report, Otto?

Ooooh, probably this bit, all things considered:

Based on our current plan of operations as set forth above, we estimate that we will require approximately $1,000,000 to pursue our plan of operations over the next twelve months if we complete Phase I only, but approximately $2,000,000 over the next twelve months if we also proceed to Phase II during that time frame. As at November 30, 2010, we had cash and cash equivalents of $87,597 and a working capital deficiency of $186,987. However, we may require additional financing to pursue our plan of operations over the next twelve months. There can be no assurance that we will obtain any additional financing in the amounts required or on terms favorable to us. If we are unable to obtain additional financing, we may have to re-evaluate or abandon our business activities and revise our plan of operations.

We anticipate that additional funding will be in the form of equity financing from the sale of our common stock. However, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our plan of operations going forward. In the absence of such financing, our business plan will fail. Even if we are successful in obtaining equity financing, there is no assurance that we will obtain the funding necessary to pursue our business plan. If we do not continue to obtain additional financing going forward, we will be forced to re-evaluate or abandon our plan of operations.

Y'see, you guys out there can read all the soft soap bullshit on junior miners you want, cos there's plenty of that about thanks to the paid pump scene, idiotic bullboard posts and über-massaged corporate presentations. Personally, I like regulatory filings as my DD reading matter. And while we're at it, let's see how this scam fronted for stock fraudster Brent Pierce is doing in the markets, shall we?

Hmmm, all that and dilution to come, too. Just not happening, is it Rahim? Our  mucker Jivraj is doing his reputation wonders for the future. Lie with dogs get fleas, my man....

Mercer Gold (MRGP.ob): We can confirm that....

another source of hot air

...the company lawyers have not yet made contact with IKN regarding the bullyboy threatened legal action of company CEO, Rahim Jivraj. Add 'chickshit' to the epithets applicable to the CEO and front man for the real crooks in the background of the company.

Mercer Gold's (MRGP.ob) CEO, Rahim Jivraj, threatens IKN with legal action

Oh what fun! After yesterday's post on Mercer Gold (MRGP.ob) that pointed out how the stock was being pumped by a consortium of bucket houses to the naive, Rahim Jivraj, President and CEO of Mercer Gold, wrote in to IKN nerve centre, telling of his personal and professional offence at what was written, etc etc demanding a retraction of the note and threatening legal action. Now for obvious reasons I'm not going to directly paste up here his private mail to this author without permission, but what we can do without problems is offer my full reply to him, which went like this:

So how come you popped up on those scumbags' radar? Just unlucky, I guess.

Rahim, I was not born yesterday. You know the one about "if it walks like a duck?". You're the duck. So if you want to jump straight from point A to point 'legal action',  well I suggest you better just get on and do it. Your lazy threats are of no import to me and it'll be interesting to find out just how much of it is pure talk.

He then wrote back quickly and I can report he backtracked somewhat, saying that his his threat of legal action wasn't a threat at all (note to readers; it was and he's a lying scumball). To which this reply was sent that used one of his own phrases in his first mail (again this is my full reply):

Go "explore your legal resolution".

end.

But poor Rahim didn't seem to get the message, wrote back and reiterated his "oh let's be friends" message from his second mail. Here's my final mail to him in full;

Ok, I thought you'd understand what "end" meant in my last mail, but it must have slipped you by. So let's make it clear that I have no wish whatsoever to continue wasting my time with this mail exchange and consider it over. If you continue to mail me, your missives will be considered the nuisance variety.

So rather than agree anything on a friendly basis, I suggest you talk with your lawyer as you previously implied and get him to talk to me. Either that or choose a bodily orifice in which you can stick your lazy threats of legal action.

I have no wish to receive a reply to this mail.

Along the way, he also mentioned that he had no idea how MRGP.ob managed to get on the pumphouse radar of companies controlled by Blue Wave Advisors and pushed in such a concerted effort. This is strange, because if you start checking out the background of Rahim (photo here) you get to see that another company where he's been active for many years, Mainland Resources (MNLU.ob), has been pointed out as the typical Vancouver scam play and has also benefitted from being pumped by Blue Wave Advisors via its wholly owned Beacon Equity pumphouse (mentioned in yesterday's post), with paid-for reports and unrealistic buy recos placed on the stock that turned out to be the exact opposite from the company's sad and painful share price reality.

We also find out that behind Rahim Jivraj is, allegedly, the front man for an unsavoury band of stock promoters led up by "that notorious West Vancouver promoter Gordon Brent Pierce" who allegedly uses people like Rahim as his front for operations because Pierce himself has been banned from securities trading for 15 years due to convictions for serious securities offenses. These people are so tight that it turns out Pierce is alleged to be the mano negra behind Uranium International, the very company Mercer Gold folded into this year in order to get its OTC listing.

There's a lot of info on these scammers available on those links above and I urge you to check them out. Also check out this report that explains how Rahim allegedly uses his sister as a front for investment operations in these scam companies. And finally, it won't come as much surprise to IKN readers to find that Rahim gets to be fawned over and interviewed by that arch-pumper scumbag Thom Calandra.

So Rahim, this isn't the retraction post you were looking for, is it you freaking lowlife? I'd therefore suggest that you get on and sue my ass if you're man enough and if the people that control you allow it. Or if not, why don't you just

Disclosure: No position in Mercer Gold (MRGP.ob), not now, not in the past and not in the future either. IKN also says that it's best to avoid stocks like this. Don't go long, don't go short, just avoid them forever and find yourself a decent company to spend your time and efforts upon.