Secured RRSP/ TFSA @ 14%

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Fido
Member since: Aug 06

Posts: 5286
Location: Canada
Post ID: #PID

Posted on: 17-02-16 18:06:42

So more details regarding the radio ad of 14% interest on RRSP is as follows:

The bio energy Company has bitumen mining rights in Columbia.
Bitumen is of very high grade and currently a fraction of the 650 hectares has been tested and found rich in bitumen.
Since it is close to the ground the extraction cost is minimum.

They also have a functional bio diesel plant in Columbia which would convert tonnes of waste cooking oil to bio diesel which has got high usage in trucks.

Debentures would be issued by the Company once it registers on TSX.
Debentures should be 100% secured against the assets of the Company ( which are in Columbia)
Interest would be paid out monthly or quarterly.
RRSP / TFSA contributions will be done through Olympia Funds which would be registered with / through Ontario Securities Association ..

Thoughts ???

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Fido.

Delhite
Member since: Nov 04

Posts: 938
Location: Brampton
Post ID: #PID

Posted on: 17-02-16 19:18:15

I have also come across it. Not sure the near future of fossil fuel/mineral so I am a little bit hesitant. Secondly due to Colombia. Have less confidence on its political stability.

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A Delhite in Toronto

tamilkuravan
Member since: Jun 05

Posts: 5775
Location: God's own country
Post ID: #PID

Posted on: 18-02-16 06:01:42

It is a scam, same as the teak wood scam of Sterling Resorts and Plantations in Tamil Nadu in the 90's.

They will collect investor money and start releasing interest for a few months. Then they will file for creditor protection and flee with the rest.

Be Aware and Beware !!

Murali

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I am a Gents and not a Ladies.

Fido
Member since: Aug 06

Posts: 5286
Location: Canada
Post ID: #PID

Posted on: 18-02-16 15:06:33

Thanks Delhite & TK.

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Fido.

Contributors: Delhite(4) Fido(3) hchheda(2) tamilkuravan(1) RBO(1)

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