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8/22/17

The Inca One (IO.v) scam. Rich pickings

We chortled and guffawed at the exercise in pig-lipstickin' News Release run by the scam pump Inca One (IO.v) this morning. So skip last the "+109%" headline silliness and notice how throughput tonnage is at 60tpd. This compares to 57tpd in the previous quarter which the company assured was severely crimped by the prolonged spell of bad weather in coastal Peru in early 2017. Sicne then, three tonnes extra? When the same plant ran at 93tpd in December? And has a recently upgraded capacity of 100tpd? Hmmm....

So, what else? Oh yeah, the CFO has resigned. Splat. Replaced by the guy who ran corporate governance at Asanko (check that chart...oh how we laughed). Add the frippery that the brand new independent director who joined in January 2017 has also resigned (replaced by a cozy ex-HDI lackey).

And let us recall, this is the stock that brought in the man who killed Timmins Gold as Chair, Bruce Bragagnolo, in August 2016 then immediately paid Daniel Ameduri 450,000 to pump it from 25c to over 40c. Today 11c. Don't day IKN didn't warn you, because it did.