Thursday, November 22, 2012

Mercator Minerals - ML.t

Say howdy do to our latest value creationist guru, Mr. Bruce McLeod of Mercator Minerals.

5 year weekly chart only hints at a true horror show that has seen money evaporate faster than stakeholder equity. This bowser has been a cash sieve for years and with absolutely no end in sight.

Answer? Sue the largest shareholder ... ahuck.
"Mercator Minerals Ltd. has filed a lawsuit in the Supreme Court of British Columbia against its largest shareholder, Nevada Copper Corp., complaining that Nevada Copper improperly acquired 46 million Mercator shares. According to the suit, Nevada Copper bought the stock in violation of a confidentiality agreement. The suit seeks an injunction that would restrain Nevada Copper from voting, transferring or selling the stock."

And what a terrific, fantastic abuse and misuse of shareholder resources for what appears the personal benefit of entrenched management types.

If a body were to bet a nickle it would be that every share is about to be voted AGAINST the current BoD.