The Spin Starts Here

I guess you sometimes have to excuse Jim Sinclair for some of his more over the top comments at his website www.jsmineset.com . After all, Jim is a gold fan and enthusiast.

When you see statements like "the man in charge in Iran now was the man in charge of taking US hostages in the Carter Administration" you just have to grin and bear it, even though you know that nothing has ever been found to support the statement and believe me, if there was the slightest piece of evidence to support it, the current U.S. government would have jumped at it, not to mention the fact that the current President of Iran appears to look younger than the hostage taker in the pictures that have been circulated in media reports, which seems a bit inexplicable, considering that 27 years have passed since the incident.

And then, there are grave warnings on Jim's site about the recent protectionist measures imposed against China, with grim references to the protectionist Hawlet-Smoot Tariff Act of 1930, while a free trade agreement with South Korea that is the largest of its kind since NAFTA is dismissed by Jim as irrelevant.

That's all fine, since, like I said, Jim is an enthusiast so a little bit of spin is expected (even though his website purportedly claims that "The Spin really does stop here."

However, when it comes to company related information, that is an area where the Spin really does need to stop and, judging by Tanzanian Royalty Exploration Corporation's (TRE) news release last Friday, unfortunately it didn't. Apparently, the British Columbia Securities Commission caught on that TRE had made several misstatements as a result of which investors may have been misinformed causing TRE to make a news release (tactfully titled "News Release") to correct certain misperceptions that may have arisen as a result of previous releases, repeatedly pointing out that certain pieces of information released by the company relating to mineral deposits were not compliant with Canadian regulations and therefor "should not be relied upon".

Also, I personally wasn't all that impressed with TRE's previous news release about the startup of work on its purported nickel bearing properties. The first three paragraphs of the release seem primarily to tout the nickel project in the Kabanga region which is being conducted by Xstrata and Barrick and have little to do with TRE.

When it comes to opinions about Gold, a bit of over the top spin is fine from time to time, but when it comes to company news releases, the Spin really does need to stop there.