Lets begin with the story posted over at IKN about Bobby Genovese lending Liberty Silver $1,000,000 at ridiculous terms. So basically, BG Capital will lend a bit of the money they scammed at an initial rate of 11%, and an annual increase of 5% in event of default. There is little chance a company like Liberty Silver will be able to pay it back...and you know what that means.
As well, I liked the portion of the press release which reads...
" The Company is also pleased to announce that Andrew Malim has been
retained to assist Liberty in the formation and execution of a plan to
advance the development and future funding of the Trinity Project. Mr.
Malim will report directly to the Liberty Board."
"Mr. Malim is an experienced corporate finance executive and entrepreneur
with over 35 years dedicated to the financing and management of mining
and technical companies."
Yes, the same Andrew Malim whose highly decorated resume is decorated with such achievements as Gold Point Energy (delisted), Bryden Ventures (delisted), Explor Resources (with a grand 46k in the bank trading at 0.025), and Canyon Copper Corp.
Next, El Nino Ventures closes (final tranche of) PP for $317,000. Remember El Nino, who used investor money to finance such necessary corporate activities as a fishing trip? Whose' Congo financials read 2 mill less in exploration expenditures than their Canadian filed financials? Well, they've got more money this time.
By the way, the hearing for these allegations should be ending this month.
Ahh......Just another day at the venture exchange.