Fake Gold Firm Pockets 1B Yuan

Source: Professional Advisor, Heidi Lee (6/21/11)

"The suspected company is registered in Hong Kong under the symbol 'BRRICK,' very similar to Barrick Gold."

Professional Advisor, Heidi Lee

An alleged fake investment firm may have used the name of the world's largest gold producer to acquire 1B yuan from 10,000 investors, reports Apple Daily.

The suspected company is registered in Hong Kong with the named 'BRRICK' the title of which is very similar to the world's largest gold producer Barrick Gold, which owns about 140 Moz. of proven and probable gold reserves as of end-December 2010.

The media quotes one of the BRRICK victims Tam saying the investment firm has five plans for customers to invest in gold with the investment amount ranging from $3000 to $60,000.

Tam added the company agreed to pay a specific amount of dividends every three months. However, she said it failed to do so and she has since found an empty office for the firm's registered address in Kowloon Bay, Hong Kong.

The firm started trading in March this year and could have deceived around 10,000 mainland investors by sending 'agents' to mainland, with the investment amount involved could reach 1B yuan.

Is a Commodities Super Cycle on the Way?
Source: Streetwise Reports (04/19/2024)

Are we at the start of a commodities supercycle? We sat down with McAlinden Research to see what they had to say about the current state of commodities.

Idaho Gold Project Could Produce One-Third of Critical Antimony for US
Source: Streetwise Reports (04/18/2024)

Perpetua Resources Corp.'s Stibnite gold project in Idaho is also expected to provide as much as 35% of the United States annual demand for the critical metal antimony. Find out why analysts are recommending this developer.

Vancouver Explorer Sees 'District-Scale' Project in Colo.
Source: Streetwise Reports (04/18/2024)

Metallic Minerals Corp. announces that all four holes drilled at its Newmont-backed La Plata project in Colorado intersected porphyry-style mineralization from the surface and over their entire lengths.

Field Work Points to Copper Porphyry at Idaho Asset
Source: Streetwise Reports (04/18/2024)

To prove this out, the Canadian company plans additional exploratory work, to commence next month. Read on to learn more about this compelling project.

Gold Co. Sets New Drill Targets for Mexican Project
Source: Streetwise Reports (04/18/2024)

Centenario Gold Corp., fresh off the results of its maiden drilling program at its Eden gold-silver property in Mexico, is outlining new drill targets across the property. At the same time, prices for the precious metal are taking off.