Like Richard Poulden, CEO of PCG Entertainment (PCGE), I have a bit of time for Brian Kinane at Riverfort. As someone who believes in transparency and clear communication, my view is that Brian is trying to bring some of that to the world of small cap funding, particularly where the dreaded phrase “ death spiral” is concerned and there’s a few points here to be applauded. It still doesn’t prevent the obvious question being aimed at Mr Poulden though – WHY RAISE MORE FUNDS NOW?
I’ve been away for a few days so just catching up on matters and first things first, I need to pick up my normally excellent colleague, Steve Moore, on a couple of glaring ommissions in his piece on Kin Group (KIN) and its funding announcement earlier this week. It was rather rude after all to not give a warm welcome to an old friend.
I’ve been following the antics of Sanderson Capital Partners for a while now and yesterday’s latest shocking funding deal with Eurasia Mining (EUA) has tipped me over the edge and forced me to write.
Having written yesterday in amazement about the fact that Roy Pitchford, CEO, at Vast Resources (VAST) could have done such a shocking funding deal with Crede Capital (HERE), I immediately then realised that Amur Minerals (AMC) have done an almost identical deal with Crede but has somehow managed to be even more misleading about it.
I am part disgusted and part amused by the shocking mess that the Vast Resources (VAST) management team has got itself into recently, all courtesy of a ridiculous funding arrangement that they agreed to in January this year with Crede Capital.