Subscribe via email, get all daily posts sent to you next day (and without all the annoying ads)

1/28/15

Fight Night: News of B2Gold's (BTG) (BTO.to) The Clive and TD Sec's Daniel Earle

Unconfirmed though decently sourced. Now confirmed.

Clive Johnson, CEO of B2Gold (BTO.to) (BTG) and Daniel Earle, sell side analyst at TD Sec, got into a fistfight last night and according to reports picked up at IKN Nerve Centre, The Clive came off second best and today has a black eye and a pair of broken glasses for his troubles.

Red wine was a third party in the fracas.

No news on Daniel Earle's employment status. Yet.

UPDATE: Your author reaches out to Daniel Earle for his version of the events, but bizarrely and strangely...



The Pursuit of Beauty: Yitang Zhang solves a pure-math mystery

While you were frittering away your time on the FOMC thingy, I was enjoying "The Pursuit of Beauty: Yitang Zhang solves a pure-math mystery" by Alec Wilkinson, in the new edition of The New Yorker. A rich and fascinating longform read, highly recommended. Go read, you will enjoy.

Breaking: The US Federal Reserve WILL hike rates in 2015: Here's the proof

Majority Of Kitco Readers Don’t Expect The Fed To Hike Rates In 2015
Of the 695 participants, an overwhelming majority, 526 people, or 76%, responded that the U.S. economy can’t afford higher interest rates.

Kitco Readers Would Vote A Resounding Yes In Swiss Gold Referendum
Out of 353 out of 309 participants, or 88%, said they would vote yes; 30 people, or 8%, said they would vote no and only 14, or 4%, said they were undecided.

That was of course the very same November 30th referendum that finished 77.3% no, 22.7% yes.

Bottom line: Fading dumbasses rarely fails. Janet gonna hike it.

In which your author rants about things without using any swear words

This made me laugh. Some dude over at Stockhouse linked over to my note on True Gold (TGM.v) yesterday by writing this on the company bullboard:

You''ll notice immediately how your average retail market player feels it necessary to apologize to the members of his psychological support group (you may recognize its alternative title more readily, "Bullboard of Heavily Promoted And Deeply Underwater Mining Stock") because the author in question is "habitually negative".

Here's a suggestion: Instead of "habitually negative", let's go for "has firm grasp on reality when it comes to the junior mining world". People, have a good hard stare at this chart:


That's five years...AH SAID FIVE YEARS...of the TSX Venture Exchange Index versus the S&P500. And in that five years yes indeed madam and yes indeed sir, your author and this humble corner of cyberspace has been "habitually negative" about the junior mining sector, the companies it houses, the people therein. I mean, got an idea as to why that might be yet? Meanwhile...
  • Canadian brokerages continue with a coverage universe recommendation 95% buys, 4% holds, 1% sells.
  • Mouthbreather central websites run by and for the corrupt rich folk in Vancouver (yes CEO CA that's you, but sadly you're not the only ones out there) tell you that fame and riches are just around the corner, not just now today but in September 2012, March 2013, August 2014 etc etc ad infin.
  • Places at the very bottom of the foodchain such as the unreadable waste of time that is Stockhouse band together the losers and if anyone dare tell them anything that doesn't suit their fantasy narratives they're immediately branded "bashers" and placed on ignore.
  • Company IR departments are all yeah for sure it's been tough but hang in there guy, things are getting better and...you know the rest.
  • Et cetera, et cetera, et cetera.

And among all this jam tomorrow nonsense spewed at you by people who do not care whether you live or die, let alone make it to be rich or poor by playing the market as long as they get theirs first, there are a few small squeaky voices such as IKN* who have the temerity to inform you on the negative aspects of the junior mining world. 

And if you read them and find something of use, you feel the need apologize before passing on the info.



*Yes there are others, but not many. I wish there were more.


Romarco (R.to): Success?

Romarco (R.to) isn't a junior in the centre of my radar, but its story and the permitting/funding thing it's being going through have caught the corner of my eye these last few months (not least because somebody whose judgement I trust likes the thing a lot). But the company got me thinking while reading this decent Q&A with its Prez/CEO this morning. Here's an excerpt:
"So it was able to pull the trigger on a C$300 million financing, the largest in a slew of financings that came to the Canadian junior market in the past few weeks. It was well timed with an increase in the price of gold and mining equities in general. Coming at C$0.58/share it will add some 517 million shares to Romarco’s sharecount of about 725 million shares outstanding (according to TMXmoney.com). Alongside a binding $200 million debt commitment with Caterpillar, Macquarie and Societe Generale, it means Romarco has fully fund the Haile gold project as recently planned."
"Financial projections, issued by Romarco in November, put startup costs of Haile including initial capital costs and bonding, amongst other items, at $385 million."
Anyway, go read the whole piece, it's pretty good with plenty info. Why's that interesting? Because it's good to get through a tough permitting schedule, it's good to have shown positive economics, it's very good for a junior to be able to use that magic phrase "fully funded" when talking about their project. Romarco should be congratulated for their efforts in the last three months. Meanwhile, its shareholders...


...have seen the stock drop by 20% while gold rose 5%. 

The sweet smell of success has more than a hint of KY Jelly in it these days.

1/27/15

Dear Tommy Humphreys

Will you please fuck off and stop visiting this blog from your promo pump rag chatroom? That goes for you too Travis you fucking idiot asswipe, and anyone stupid enough to think they're not going to get ripped off and laughed at by people who will use them for their own means, thereby remaining permanent members of the market underperformers club by using CEO CA as their chosen source of information.

Thank you in advance.

Almaden Minerals (AAU) (AMM.to) and the right to reply

After the link put up yesterday to the report on protests around the Almaden Minerals (AAU) (AMM.to) Ixtaca project in Mexico, your humble scribe got mail from the company. Even though it was originally meant as private mail, it makes a decent case and as IKN is always up for right-of-reply material, I asked for and received persmission to share this mail on the blog. So, without further ado...

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

I saw your reference to the Municipio article on the blog yesterday. Leticia Animas, the author, is known to us. We believe she is based out of Puebla - about 80 km from our Ixtaca project, and writes articles opposed to all kinds of development in Puebla. In this particular case, we understand that the presentation in a nearby community which she is talking about was organized by a group called REMA, which is by no means local to our project and is there more to influence the views of the community rather than to represent them. REMA appears to be an anti-development group generally with targets all over Mexico http://www.remamx.org/. The approach here seems to be REMA arriving from outside the area to try to generate fear amongst the community by alluding to deaths, skin lesions etc., while Municipio reports on the activity, mis-characterizing REMA’s action as local opposition.

For what it is worth, our experience with the local community is that they are open to dialogue and have been receptive to our work. We don't take this for granted, and continue to interact with them about any aspect of the project which is of interest. In order to help the local community visualize the impact of mining we have been offering community members bus trips to mining operations (over 300 people so far) so they can witness for themselves the impact of mining on communities and speak with those affected. This most basic form of education has been rewarding for all involved. We have an open-door community office and many employees are drawn from the local population, including several of our drillers who have been trained-up on the project and now have readily-transferable skills. We anticipate being confronted by professional NGO groups from outside of our area purporting to represent local views, and hope when that time comes that community members are enabled to take informed positions on Ixtaca.

While we have been operating in Mexico since 1992, we are a young company at heart and try to represent a modern, progressive face of mining. This business will always have critics and we welcome and expect informed criticism. I don't ask you to take our word for the community dynamics at Ixtaca, but I do hope that you read other peoples' words with the same level of scepticism that you do ours. Ideally, you could come to Ixtaca anytime to draw your own conclusions on how things are going. Barring that, I'd be happy to chat at your leisure by phone or email.

Best,

Doug McDonald
(604) 629-9425

Mayra knows where the thieves are

To improve your Tuesday evening, here's a 38 second clip from a kids quiz show on Chilean TV called "Pequeños Gigantes" (Little Giants), for your viewing pleasure:



The host, Carolina de Mora, asks her panel of kids "The last question in this round......Where are the thieves?" (in allusion to a famous song in Spanish by Shakira of the same name, "Dónde están los ladrones").

Mayra hits the buzzer

Carolina de Mora: "Let's see now....Mayra?"
Mayra: "In parliament" (en el Congreso)

(audience bursts out laughing)

Carolina de Mora: "Where did you get that from"
Mayra: "My mother told me"