Tuesday, April 19, 2011

Dudley-Do-Right Comes to Moscow-John Helmer Article

Thanks to Doc for posting this:

John Helmer, Moscow

The three greatest Canadians of all time are Glenn Gould, Pierre Trudeau, and Dudley-Do-Right. A poll of Canadian businessmen in Moscow recently recommended Wayne Gretzky and Bobby Orr to displace the first two. The Canadian Broadcasting Commission nationwide poll of 2004 put Tommy Douglas and Terry Fox at the top. Then too, Gordon Lightfoot (“If You Could Read My Mind”) was at no. 33 and Leonard Cohen (“Bird on the Wire”) at No. 46.

Nobody has ever challenged Dudley-Do-Right, who also wins the handsomest Mountie of all time award. Although Dudley stopped appearing in 1970, he keeps getting his man.

This time it’s not Snidely Whiplash but Maxim Finsky (right)

The tale of Finsky’s plotting in the Canadian goldmining sector has already been told on March 31. A week later, Mikhail Prokhorov joined the plot. Since the start of this month, the Finsky vehicle White Tiger Gold (WTG:CN) has lost 14% of its market capitalization. Yesterday, after Dudley-Do-Right made his appearance, the share price fell 5%. That’s value destruction totaling C$51.7 million.

1-month share price chart for White Tiger Gold

And what has Snidely Whiplash been up to? — the takeover by one goldminer he controls White Tiger Gold, of Century Mining (CMM:CN), a second goldminer he also controls. Since March 31, CMM’s share price has fallen by 19%; in yesterday’s trading, it dropped 6%. Value lost, C$39 million over the past six weeks.

What happened yesterday was the release of a detailed analysis of the takeover plans of Finsky and several of his Canadian associates by a group of Canadian shareholders in Century Mining.

The allegations against Snidely, I mean Finsky, are grave. He and his associates are charged with conflict of interest in misrepresenting the underlying value of the assets in the proposed combination of goldmining assets, and strong-arming Century Mining’s minority shareholders by imposing a break-fee penalty as large as 5% of the company’s market capitalization at the time the White Tiger takeover was announced. As Century Mining’s market capitalization has subsequently dwindled, this C$13.5 million penalty has risen to 8% of the total. Violations of various Canadian exchange rules have also been charged in releases from the group.

Here is their analysis. In Moscow Finsky was asked, for the third time, to respond. He declines.

Century Mining Corporation
Concerned Shareholders

Read more: http://www.businessinsider.com/dudley-do-right-comes-to-moscow--steps-on-maxim-finskys-plot-2011-4#ixzz1JySZiyDh


nt300 said...

Awesome, thank GOD John Helmer got a hold of the Committee's wonderfully written NR.

I hope I speak for everybody here; it's made me proud to be a Minority Shareholder of Century Mining Corp. and to be part of this fight. Collectively we are Strong...
Hedge Fund Guy, I believe now you will join the fight to vote this merger down. I can’t see you choosing otherwise after all this overwhelming and factual evidence against the parties involved. We can use your CMM share contribution IMHO...

bigjohn37 said...

John Helmer: THANKS 81+million times! We appreciate your truthful journalism! The truth will set you free. If Finskiy was smart, he would grant you that interview; he might learn something for the future. Concerned shareholders of CMM.

PayDay said...

I can't stop laughing at that cartoon of Fink-sky John Helmer has at his website!

That's just how I pictured him too!


Ron S. said...

One big hope Max Fin et al had was obfuscation and obscurantism of the truth. Ok, I used a dictionary.

Oue committee's release have in the least dealt the lies and bullshit (no dictionary) a great blow.

I think Max Fin will never surface about this case, unless they find some of the Bre-Ex gold in russia - he would only make his case worse.

Proud to stand with you guys too.