TrueCasey in Utah, and a Special Photo

TrueCasey continues starving himself in Salt Lake City, courtesy of Nigel, WWTF and BTC. We continue to be skeptical of his motivations and liklihood of success, whatever that means to him.

Some photos of his antics have begun to leak out, largely courtesy of BTC and WWTF.

We find this one fairly hysterical:



Apparently the lady was encountered at the top of the Snowbird resort at 11,000', which seems to us like an odd place to be turning tricks. Of course, TrueCasey strikes us as an odd person to be soliciting.

However, the following picture does not appear to have been published anywhere else yet. We cannot reveal from where it came, but the list of possible contributors is obviously no more than four persons long. It purports to show the inside of BTC's ski locker at Snowbird. We find it interesting, to say the least.



And that's the view from FalseCasey Headquarters, where we are wondering why there are no skis in there.

TrueCasey in Utah???

So it seems that our old adversary TrueCasey has escaped to Salt Lake City where he is bonding with Nigel, as well as our old friends WWTF and BTC.

We have corresponded with BTC, and are surprised to find that he is part of this hairbrained scheme to bring TrueCasey to Utah. While his posts suggest he was perhaps not an integral part of the decisionmaking, we nonetheless find it disturbing that anybody would have fronted the money for this. Let's face it, TrueCasey is a bum, moving from one motel room to the next, who just happened to have gotten a nice opportunity to spend some time in a motel room further away from his mother than normal. This is nothing different from his ancient Lake Tahoe escape and will yield no more results.

Most likely all we will see from this will be a number of trolls, dozens of troll pictures, and eventually the inevitable refrain from Nigel that TrueCasey turned out to be a bum, wasn't interested in learning a thing about rehabbing, and probably some revelation about TrueCasey's real diet.

And that's the view from FalseCasey HQ, where we are glad to find that TrueCasey is out of the state, but not all that crazy about the fact that he continues to be enabled.

Will TrueCasey Make it to HaterzCon West?

A number of major developments have taken place. TrueCasey was invited by Nigel earlier today and apparently agreed to show up. BTC, Nigel and Mr. Funk will fund the flight, though BTC later posted that he wishes he had not agreed to this some time back. TrueCasey agreed and plans to be on a flight in the morning.

However, there have been later developments:

• We have become aware that TrueCasey has just read Mr. Funk’s open letter to him, which was published in this space some time back. Feel free to check out the original text as preserved on our massive servers.
• TrueCasey has informed Mr. Funk that he is no longer able to respect him.
• As an aside, we wonder why he thinks anybody would care about receiving respect from TrueCasey?
• Apparently TrueCasey asked that Mr. Funk be excluded during a phone call with Nigel. Nigel provided assurances that Mr. Funk will be on his best behavior. Casey also expressed concern that we at FalseCasey might be in attendance. As we are not a single individual, it would be quite difficult for an individual "FalseCasey" to be there.
• Finally, TrueCasey is scheduled on an 11:35 flight. This would require TrueCasey to be at the airport no later than 10:35, and really would need to be there earlier to be sure of making it through security and all the other hassles. This would entail him leaving home by 10:00 and presumably being awake by 9:00. No such thing has occured recently.

We believe it is unlikely that TrueCasey makes it to his flight.

And that's the view from FalseCasey Headquarters, which appears to be in a third-world corrupt and cronyish country where the key to success is not hard work, but rather just being connected to the right corrupt officials.

A Tragedy in the GoldSpring World

Thanks to WWTF!

Lots of Sound and Fury about Goldspring...

Signifying nothing!

OK, we exaggerate. It signifies that GSPG is a typical pump-and-dump penny stock, in which our old friend TrueCasey takes on the role of bagholder for the insiders.

Today we have seen the biggest one-day gain in gold EVER.

And GSPG down over 20%.

Why? Because for all the talk about 43-101s, estimates, plans, drilling, etc., GSPG still has nothing that rises to the level of "proven reserves." Note that their shareholder presentation yesterday carefully uses the word "resources," and in fact gets more specific in noting that they are speaking only of "indicated resources."

Note that under Canadian 43-101 rules, the following classifications of resources and reserves are used. In increasing order of "certainty" they are

• Inferred Mineral Resource
• Indicated Mineral Resource
• Measured Mineral Resource
• Probable Mineral Reserve
• Proven Mineral Reserve

We are going to give GSPG the benefit of the doubt and assume that their "43-101" report actually follows the Canadian rules for such documents. GSPG of course is not a Canadian company, and is not legally required to comply with that standard or to issue this report at all. As far as US law is concerned, they could shit on a piece of paper and call it a 43-101 if they wish to.

Per the above cited standard anything called a "resource" is not yet shown to be economically viable. Most operating mines consist primarily of Proven Reserves, often with some Probable Reserves around the edges and lots of "resources" in the property surrounding the economically-viable mine.

If you check out the GSPG presentation as filed with the SEC, they very clearly avoid the use of "reserve." This is not surprising because the US definition of what constitutues a "reserve" is even tighter than the Canadian one and they clearly can't meet it at this time, if ever.

Indicated resources, of course, are just above the lowest classification available. A project consisting entirely of "indicated resources" is still extremely speculative and may never yield any economic results. So, when they say they have over $400m of "indicated resources" the liklihood is that they will never get anywhere near that much value from that piece of their property.

And what is their plan going forward? It's vague. Normally with indicated resources, your next step would be to do a feasability study, during which some of those "indicated resources" would get upgraded to "measured resources" and eventually might be categorized as "reserves" if the proposed project meets criteria for economic and legal viabilitye. That doesn't seem to be top on their list though.

Instead, they use most of the rest of the presentation talking about potential other areas for exploitation and very little about finishing the exploration and feasibility study in this one. They suggest that actual mining could start next summer. We thought they said it would be this summer some time back? I suppose they got distracted. Just like TrueCasey.

This is typical of a pump-and-dump company. Always something new out there worth exploring, but never anything completed. And always some new suckers to buy stock so they can pay the interest on their debt at 24% to "friendly lenders."

It strikes us this company is just a corporate version of TrueCasey. Lots of sound and fury signifying nothing, but a lot of entertainment for the otherwise uninvolved.

And that is the view from FalseCasey HQ, where hope is still not a viable investment strategy.

Some insight into TrueCasey

One of our number had a good friend over last night. She brought another family member as well. This friend is always well-behaved, well-spoken, well-reasoned and easy to deal with. She has built her own business and manages on her own without family or spousal support. She is always a pleasure when we all meet her at FalseCasey group gatherings.

Her family member was the exact opposite. She was one of those people who had all the reasons she couldn't eat the food that had been prepared. She insisted on closing the patio door when everybody else was enjoying the evening breeze, on moving stuff around, and in telling everybody why they were wrong and she was right, even when the evidence suggested otherwise.

When she was not given immediate gratification, she became even more belligerent and demanding. When it was all over, she watched TVand didn't offer to help clean up.

In short, she was much like TrueCasey, except for one thing:

Our friend's daughter is four, and will most certainly grow out of this phase. TrueCasey is 26.

And that's the situation here at FalseCasey Headquarters, where we are still cleaning up the devastation left behind by a rambunctious four year-old.

TrueCasey on Aussie TV

Our friends the Aussies have always struck as as somewhat odd.

Their decision to interview TrueCasey for even a few minutes confirms our previous thoughts about them.

In any case, FalseCasey reviewed the rather silly video, and found it to our liking. Most likely TrueCasey is not feelign the same way. In just the first 20 seconds they managed to sling out the phrases:

• world's most hated blogger
• financial ruin
• celebrity for all the wrong reasons
• dodgy deals

Then they interviewed TrueCasey who managed to do his usual thing, claiming that everybody was doing it, it was a grey area, etc. Finally he summed up his experience, saying "we can easily rationalize our decisions."

Just as FalseCasey can rationalize the decison to believe that TrueCasey is a nitwit.

And that's the view from FalseCasey Headquarters, where we anxiously await the last episode of Ice Road Truckers tomorrow.

HaterzCon™ West Fall 2008

We are proud to announce that HaterzCon™ West for Fall 2008 has been scheduled. It will take place in Salt Lake City, a place famous for award-winning bloggers, on Friday, September 19th starting at around 7pm.

Confirmed attendees currently include BelowTheCrowd, WWTF and Nigel. A campaign has been started on CH.c to try to collect funding for a TrueCasey visit. BTC has announced that they are only seeking funds to pay for a flight. TrueCasey will be expected to find his own overnight accomodations or to sleep in somebody's trunk

We have been silent for the past few days because there has been little to say. TrueCasey continues to "work" online, showing his typical flea-style focus. He has also banned all comments to his blog - a move that has cost him most of his audience. There is little to comment on. This lull will most likely soon pass.

And that's the view from FalseCasey Headquarters, where we are not shocked, but incredibly pissed off that more of our tax dollars will be spent to bail out the scum at Phony and Fraudy.