IRMGF pump and dump scam replaces failed RNBI stock scam
August 30, 2014
It was only 6 days ago that I wrote a blog article declaring that the failed RNBI penny stock pump and dump scam had ended. As of Friday, August 29, it was replaced with a similar scam pumping the stock symbol: IRMGF.
Short and to the point, this new pump and dump scam is targeting the stock of a Toronto based company called Inspirational Mining Corp. A look at the long term charts reveals that the last time there was any real value for their stock was in 2011, when it reached a short term high of 45.5 cents per share. Since then it has been on a long slide down to the 3 cent range on year ago. It only recovered slightly, to the 6 cent range on August 25, 2014, the day on which the current pump and dump scam began!
Following the initial email spam blast, the price rose up to a high of 11.3 cents. The email spam subjects made claims about big news. The body text spoke about billions of dollars worth of metals being discovered by the company. However, if one takes a minute to read the company news, there is absolutely nothing about any major, or minor developments or discoveries. Rather, they posted this disclosure:
INSPIRATION MINING C (OTCMKTS:IRMGF) declared that the Corporation is not aware of any specific factors, other than information previously disclosed in its public filings, news releases or statements, which would result in the levels of trading activity and change in the share price recorded.
The emails you are receiving, with senders spoofing trading houses, subjects like: "Critical news information read now" - followed up with body text claiming (complete with all manner of typos): "Since the company discovered 4billion worth of proven metal reserves it has become the target of Walstreet invesstors looking to cash in on the rush." There is nothing to back up this claim. It is total bullshit!
My junk folder has been receiving about 10 of these a day and so will yours. Disregard any that make it through your junk filters. Delete on sight. Do not be fooled into buying this stock during a pump and dump scam campaign. You will be among the losers.
Stay safe, both online and offline. Have a happy Labor Day weekend.
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