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7/12/17

Cordoba Minerals (CDB.v) should release hole ACD-063 immediately

This morning we got to see what Bob Allen (Bullet Group) thinks about the proposed deal between CDB and HPX (spoiler: not a lot). The mail, which was circulated to his group of friends and colleagues, made it to IKN even though he got a basic fact wrong because it makes one excellent point.

1) Wrong: He said we haven't had an assay result since PDAC.
2) Right: An assay is way waaay overdue and it looks very suspicious in the eyes of your humble scribe.

In this NR dated May 17th CDB announced to the world a bunch of assay results for its main Alacran target that didn't impress the market (see chart below). They obviously knew the numbers wouldn't wow anybody because a little further down the NR they wrote this:
"Our geological understanding of the multiple mineralizing events and structural interpretation at Alacran is improving with visible gold recently intersected in drill hole ACD063, with assays pending."
Oooh! Ooooh! Visible Gold! And for those that recall, it was a hole that hit impressive VG in the same part of Alacran that saw the stock zoom higher in January and February. 


That May 17th NR was exactly eight weeks ago (56 days, count em up). And that's weird because for one thing, there's no way that hole would take 8 weeks to test and for another, at the time that NR came out I asked CDB CEO Stifano when we could expect the assay result and he told me by the end of June latest.

In other words, the delay on releasing this hole's results is total bullshit, obviously connected to this crap-assed deal to buy out HPX Colombia. If it looks like a duck, and quacks like a duck...






This is no small matter. I have no doubt that CDB, under the directive of Robert Friedland (the dude at the very centre of this retail shareholder rip-off), is witholding material information from the market. And even if they're not, the optics on this foot-dragging of an important hole are awful and makes the whole operation look dirty, shady and scammy.

IKN calls on CDB to release the results of ACD-063 immediately. Stop farting us around, the lack of respect for the people who have sponsored your company is disgusting.