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Frank Holmes Says

The Trump/Clinton debate is bullish for gold. 

This is of course a developing story.


Radio Raheem

"Let me tell you the story of Right Hand, Left Hand. It's a tale of good and evil. Hate: it was with this hand that Cane iced his brother. Love: these five fingers, they go straight to the soul of man. The right hand: the hand of love. The story of life is this: static. One hand is always fighting the other hand, and the left hand is kicking much ass. I mean, it looks like the right hand, Love, is finished. But hold on, stop the presses, the right hand is coming back. Yeah, he got the left hand on the ropes, now, that's right. Ooh, it's a devastating right and Hate is hurt, he's down. Left-Hand Hate KOed by Love."

The stand-out character of the magnificent movie. Bill Nunn RIP and that's the double truth, Ruth.

PS: The clip:


The top three most visited IKN posts this week are... reverse order:

Third Place: "Argentina: The Veladero mine causes political pain (from IKN384)". Basically because Lawrie Williams gave it a re-boot. Which was nice.

First Place: "Gold porn". Basically because you all like the gold porn photos and always will. Mmmmm, shiny things.....mmmmmmm


The Friday OT: Joaquin Sabina; Contigo

The most drop dead heart-smashing love song ever.

Let us be clear, lovers of the tongue of Cervantes, the guy who can write lines like these...

"Porque el amor cuando no muere mata, 
                                     porque amores que matan nunca mueren" simply a genius.

Apart from The Friday OT later on...

...there will be no posting on this blog today.

For secret reasons.


Dunnedin Ventures (DVI.v) never gets mentioned on

This is one reason:

This is the other, from October 2016.

“Chris Taylor’s Dunnedin Ventures Inc. (DVI), down one-half cent to 4.5 cents on 220,000 shares, is facing a dissident shareholder and a threatened proxy fight. The company’s former special adviser, Allan Barry Laboucan, says he was “pushed out of Dunnedin” but plans a return. Mr. Laboucan is best known as an “editor, writer and show host” with Allan Barry Reports, his on-line tout site. A year ago Mr. Taylor, Dunnedin’s president and chief executive officer, appointed him as a special adviser. Appointments are usually gushy affairs, and Mr. Taylor lauded his new adviser as “one of the most well-rounded diamond industry experts in Canada.” He did not back up the claim, limiting his description of Mr. Laboucan’s experience to his frequent guest appearances on business television programs seeking his opinions on resource companies and market trends, his role as “chief market commentator” with, as well as his work with Allan Barry Reports.
Mr. Laboucan is certainly not returning the puffery. He now says in an Allan Barry Reports blog entry that Mr. Taylor “had little experience in diamonds” when Dunnedin began working its Kahuna diamond project in Nunavut last year, adding that “he is unfit to lead the company any longer.” Mr. Laboucan says he made his “concerns about the board and the leadership” of Dunnedin known to the company’s board of directors, after which they “chose effectively to dismiss me.” That hardly seems a surprise, since Mr. Laboucan says he wants to change the board of directors, appoint himself president and CEO, and bring in a new team experienced in diamonds and with skills complementary to his own. He then delivers a final insult to Mr. Taylor’s crew, saying he feels Dunnedin’s efforts were “more about the board of directors trying to build a stock promotion than a diamond mining company,” adding that he believes the “science of what we have discovered shows we have a world-class diamond project.”
Presumably he means the science of what Shear Diamonds Ltd. discovered in the mid-2000s as that now defunct company was responsible for the discovery of the narrow but rich Kahuna, Notch and PST kimberlite dikes. Shear never completed a resource estimate based on its work but Dunnedin did, declaring a 3.1-million-tonne inferred resource at Kahuna, averaging 1.04 carats per tonne, with another 921,000 tonnes inferred at Notch, averaging 0.90 carat per tonne. (PST, the smallest and richest of the tree dikes at 2.18 carats per tonne, does not have a resource estimate as yet.) Ultimately, whoever holds control of Dunnedin next year will have to raise several million dollars to advance Kahuna in a meaningful way since a lot of drilling and bulk sampling will be needed to prove or kill the project.”

Allan Barry (who is not a geologist nor an engineer nor a qualified financial analyst, but sure likes to pretend to be all three for his audience of neophyte innocents) is so keen on hunting out bullshit stock promoters? He should look in a mirror.

Galane Gold (GG.v): Seems legit, guv

One day some company will pay a research company for a report and they'll put a "hold" or "sell" reco on the company. Not.

This hit the wires at 07:55m today:

And now, this:

Bless 'em.

In The IKN Weekly this weekend...

...there will be the usual assortment of many things. There will also be a piece directed at investors (not onanist stockflippers) which will explain why an investment (rather than a pump flip or near term diceroll) in Riverside Resources (RRI.v) is a smart idea in the current 3q16 and 4q16 time window.

Yamana Gold (AUY) ( hasn't been telling the truth about its massive legal problems in Argentina

Who remembers back to the court case between Yamana (AUY) ( and Ricardo Auriemma over fees that Señor Auriemma said were due to him from dealing he had with Northern Orion (which was bought out by YRI)? Not many of you I'd expect, because Peter Marrone would prefer you didn't have it on your mind when it comes to his company. But you may remember this March 2015 NR in which YRI said that the case had been ruled in favour of the company and against Auriemma:
TORONTO, ONTARIO--(Marketwired - March 3, 2015) - YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) ("Yamana" or "the Company") today announced that the Commercial Court of Argentina has annulled the previously announced award granted to Ricardo Auriemma ("Auriemma") in the litigation between Auriemma and 0805346 B.C. Ltd., a subsidiary of the Company which was formally known as Northern Orion Resources Inc. The effect of the annulment is that the previously announced award is cancelled and has no further effect.
The annulment vindicates the Company's consistently maintained view that the award has no valid basis and is without merit.
 That sounds all done and dusted, right? 


It takes a bit of snuffling around the Argentine judiciary website, but hit the right buttons and put in the right keywords* and you get to the Yamana vs Auriemma case page. And there you see this:

Now that's interesting! For a case which was supposedly over (according to the smooth corporate image-makers at YRI at least), there has been a lot of activity in September. For example, this extract from one of the docs which is in Spanish of course, but you see the names and the date stamp:

So why is this decent fodder for an IKN blog post, you ask? Well dear reader, if you start reading the recent rulings and depositions (as I've been doing this morning) you soon see that far from this case being closed, it's recently gone against Yamana and they're now on the hook for a sum as high as U$110m. In fact the decision favouring Auriemma is now a done deal, all the lawyers are doing now is haggling over the amount that YRI will have to pay him, because one side wants to use Pesos, the other side dollars, one side no accrued interest the other side yes, etc etc.

So let's see now: Agua Rica's a bust, Suyai will never happen and now Alumbrera is going to cost the company multi-millions. Peter Marrone really REALLY screwed up by walking into Argentina like a greenhorn.

*mail me if you're interested in getting to the exact spot, instructions can be provided.

Another Canadian pump and dump unwinds

Colorado Resources (CXO.v):

This one was loudly pumped by the purveyors of bovine excrement at non-stop for months, getting all the newbies and greenhorns hot and lathered about all the millions they were going to make (off free info on a freakin' chatboard!!!) and then...for some reason... it all suddenly went quiet at about CXO (i.e. Tommy's ringleader crew were quietly selling). Cut to today and the near-inevitable news release that makes it clear the wonder-project isn't the next Red Lake after all. My, what a shocker.

This is how these two-faced delinquents have always worked their sordid trade. They'll pretend to be your friend forever if you let them. Well "forever" may be a stretch, more like until your back pocket runs dry.

UPDATE: Reader JB helps the cause by sending in this Dilbert strip. Thank you kindly, sir.

It's time for the Pacific Rim (now OceanaGold (OGC)) versus El Salvador verdict... the years-long arbitration between company and country at the ICSID/CIADI tribunal. We're about to find out just how stupid OGC was to get involved with this and "pick up a bargain".

Verdict due any day now.

Frank Holmes Says

The Leo Messi groin injury is bullish for gold. 

This is of course a developing story.