Wednesday, March 19, 2014

Rio Alto Mining - Part II

There is much in the RIO Denmark to be highly concerned about. Sadly the documentary evidence and/or the direct personal knowledge of a highly connected type has not found our attention, yet.

That's a pisser given the many nasty allegations against the CFO, Mr. Hawkshaw. Suffice to say there is a very long track record of stakeholders getting the chit end of the stick and it appears RIO is the exact same manner of stick.
This management and its hangers-on are raping shareholders stupid, and that conclusion takes all of 3 seconds by examining disclosure and an IR function that would insult a pink sheet PoS. These GROTESQUELY overpaid slugs don't care one iota about either.

That's the Venture "slash and burn" taken to the next sickening level.
Put very simply RIO Alto Mining is on the down hill slide as the easy to process oxides are depleted. Insiders know this far better than most and are acting accordingly.

There is virtually no upside in a RIO "best case" world, and absolutely, positively none in a world where insiders can't be trusted as far as they can be thrown.
Much, by necessity, is being left unsaid. Lets just say a body who expends a minimal amount of due diligence on Rio Alto Mining will not like what they find, particularly as it relates to a CFO whom one is forced to rely on. It doesn't get a whole lot worse than this.