re: Ann: MAK: Patersons Research Note Recomme... In the UK, this...

re: Ann: MAK: Patersons Research Note Recomme... In the UK, this type of research is called NON-INDEPENDENT broker research. It is usually called that in the small print at the end. That is, it is probably paid for either by MAK or by UCL.

(There is probably insufficient institutional interest/prospective brokerage commission for a stockbroker like Pattersons to risk wasting company funds producing research it might not be able to recover its costs of production on?)

Since UCL probably wouldn't pay for an adverse recommendation, it is possible (probable?) it was paid for by MAK. And of course Drummond is trumpeting this as independent backing for his offer. LOL.

I agree that such a calculating and opportunistic individual as Mr Drummond is unlikely to neglect to mine the newsflow pipeline for every last drop of MAK share price enhancing news to maximise the MAK offer take-up, and so Pattersons is right to emphasise the attractions of exposure to NMDC MAK tie up news, but the problem is what happens afterwards? The MAK share price, if Mr Drummond has properly exploited the newsflow pipeline, will drift, and that is when all the old fears about Drummond's hyperbole might reverse the effect of the good news of the NMDC-Wonarah tie up. It all looks to me like a shadow chasing exercise that for a few fleet of foot might be a good idea, but is largely for the majority of people an investor wealth reduction exercise that only benefits the symbiotic relationship between liars that stand next to holes in the ground and those that thrive on a geared revenue relationship with stock exchange transaction volumes.

I don't think Mr Drummond is a liar but his examples of hyperbole are not isolated one-offs. If MAK had a strap line it should be "Deceive to thieve", in my view.

I've never forgotten this one:

"PORT KEATS ROCK SALT PROJECT: MAJOR EVALUATION ADVANCE"

Needless to say it did nothing for the MAK share price on the day.

Caveat emptor. Good luck to those who can make a quick turn on following Patterson's advice, but don't be surprised if the only people to benefit are MAK and the brokerage industry. All IMO. DYOR.