Kalimantan Gold (KLG) has been a perennial jam tomorrow POS stock on the AIM Casino. Directors fees all round. Advisors fees all round. Placing after placing after frigging placing as it hypes up one target, raises cash, moves the goalposts and them raises cash again. All the time it is private investors who get screwed. Let me tell you about the placing it failed to do earlier this week.
The shares raced ahead to 8p – I think some folks paid even more – on news of a “maiden inferred resource” on the BKM copper project. This company used to be about to make it big in gold then it was coal then it was, heck I just lost track years ago. But an inferred resource means jack shit.
Anyhow the stock raced ahead and early this week when the shares were 7.9p the calls went out to every spiv in town – “placing at 5p.” Sadly
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