General Chat / Discussion, page-10881

A very good question, that deserves an honest answer.

I first posted here in response to SF2's outrageous and deceiving post implying that Makuuta was SO much better than any of the other projects because his "Golden spreadsheet" had the highest "Basket Value", unfortunately there were many Investors who did not understand the economic valuation of ore bodies and were taken in while a few unscrupilous traders ramped IXR to unsustainable levels.

Having roused my concern that this may be yet another "Pump & Dump" exercise, I looked a lot deeper into the Fundamentals of the project, and quickly became aware that even at the elevated RE prices at that time, it would be struggling to make a profit. Knowing that when Profit margins are slim, one of the first cutbacks management resorts to is to minimize Environmental spending.

So I next looked at Makuutu's Environmental setting, and with the help of a Geologist who knows the area well, discovered that the strata in which the deposit occurs is potentially very fragile as it has a relatively high precipitation rate and the ground waters flow into various tributaries of the Nile. I later discovered that the Company seems to have no plans to contain the (admittedly) low levels of Radionuclides which end up getting concentrated then dumped back into the workings, some idiot even suggested that the mined-out ponds would even be suitable for fish farming.

So to answer your next question, why am I still here now that Makuutu is obviously a dead duck; While SF2 and his ramping traders may have moved on to their next victims; there remains one or two of his disciples who are still attempting to ramp this stock on the back of Makuuta, just yesterday the biggest ramper here reposted a couple of SF2's deceptive charts in an attempt to show that Makuutu had higher values of HREE than any of its peers. Bulls#*t needs to be recognized and those who continually sprout it exposed, or some ill-informed and unsuspecting new investor may believe it is true and decide to buy in ~ which is of course the whole aim of RAMPING.