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Bottom-Fish Comment - July 17, 2012: Bottom-Fish Strategy for Georgetown Capital Corp
 Georgetown Capital Corp was recommended a low priority bottom-fish buy in the $0.30-$0.49 range on July 13, 2012 because it is a shell controlled by Shawn Wallace and Ivan Bebek, a pair of up and comers who spent a good part of the last decade toiling on behalf of the Hunter-Dickinson group before striking out on their own with Cayden Resources Inc. Georgetown listed on the TSXV on October 17, 2008 as a capital pool structured by a team of thirty-somethings that included Stockhouse founders Hani Zabaneh and Jeff Berwick. Their timing was bad and they tried to unload the capital pool in early 2009, settling instead for a change of control in November 2009 whereby Wallace and Bebek bought part of the escrow and bought part of a private placement of 5,333,333 shares at $0.075. With only weeks to go before the qualifying transaction deadline they brought an accountant on board as the new CEO, and then let Mike Williams ride to their rescue by letting Georgetown option the Tanacross porphyry prospect in Alaska from Full Metal Minerals Ltd, a prospect-generator which had managed to blow itself up by not farming out its best prospects. As part of the QT Georgetown conducted a private placement of 3,752,272 shares at $0.55 with 10 placees, which included broker Rob Sali who was so impressed by something he pumped more than $500,000 into the junior to buy 990,000 shares. Georgetown conducted a $500,000 four hole 1,000 m drill program in 2011 run by Rob McLeod of Full Metals whose results never made it into a press release; in early 2012 when the property payments were due Georgetown abandoned the Tanacross option and is now a shell with a tight structure and an influential broker as a shareholder who probably put up more dough than anybody else and is unlikely to have thought that his half million bucks would turn Tanacross into a homerun. Georgetown, which already looks what a lot of rolled back and refinanced shells will look like by mid 2013, namely not much paper issued of which the insider network owns more than 75%, is different in that the company avoided issuing warrants and has about $1.5 million left from an expensive financing that was a people bet using other people's money. Georgetown is low priority because Wallace has his hands full as CEO of Keegan of which Sali is also a director, and his incentive for creating a big score, along with that of Bebek, resides in Cayden. Bottom-fishers who manage to buy Georgetown need to be patient, but can relax knowing that this bottom-fish will survive an extended bear market.
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