Novo Scores Financing Coup

Quinton wants to get into production. He can’t talk about it because he hasn’t completed a feasibility study on the project. But it’s high grade, oxide near surface, it’s cheaper to mine than to plan. To go into production Quinton needs another $2 million. Rather than issue more shares at today’s dismal price, Quinton and Novo are going to copy something Freeport McMoran did 15 years ago; they are going to issue a convertible debenture.

The debenture will garner no interest but will mean investors are buying gold for delivery in a year at a 30% discount.

http://www.321gold.com/editorials/moriarty/moriarty011916.html

Barkerville scam????

As an aside, the TSX finally sorted out Peter George, the geologist who claimed Barkerville Gold Mines had a 10.6 million ounce indicated resource in June of 2012. The report was total bullshit of course, it was a made to order scam on behalf of Frank Callahan. It took the TSX 3.5 years to determine that an appropriate penalty for doing $100 million in damages to investors should result in a giant fine. They nailed George with a $15,000 fine. So take that all you scammers out there, the TSX is on the prowl and looking for skullduggery.