The Evil Diaries: Slam the Gate

Last Wednesday I commented upon Gate Ventures (GATE) noting that it is grotesquely overvalued in relation to its probable worth. Indeed on 12th March Gate itself pointed out that they are mystified by the rise in the share price. It had been floated only a couple of days previously. But I think Gate are coming the raw prawn.

At the time of my snippet Gate stood at around 73p. Yesterday it excelled itself, touching 180p. When suddenly, late on in the day, Gate announced that they are still mystified by the rise given that the only investment contemplated by Gate is of the order of £300,000 at most and, in any event, not very exciting. Given that the initial subscriptions raised around £3m, there is still £2.7m to hand for lunch or lunches (this latter if you really want to make a point).

Ever in the service of the public, I had earlier yesterday written to AIM’s regulation department as follows: “Dear Sirs, You may be interested to know that GATE is a stock distribution fraud engineered by in effect a nil public float and an undisclosed concert party of all the initial subscribers. They lend their stock to others who sell into the strength generated by suckers coming through Far Eastern brokerage businesses which in turn place orders with London brokers. When the suckers want to sell they get the run around.

Even the mildest inspection will disclose that GATE is insanely overvalued at 170p. See the RNS of 12th March 2015.”

One cannot borrow stock. But one can marvel at man’s inhumanity to man.