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Endeavour Silver ( (EXK): Sweet mother of holy children, what a pathetic excuse for a mining company

Tonight's NR "Endeavour Silver Announces At-the-Market Offering of Up to US$16.5 Million" out of Bad Crook's Mexican mining company saw your humble scribe burst out laughing. Not out of surprise mind you, just the whole chutzpah thing this most cringe-worthy of mining companies has going for it.

There's going to be a piece on this company and this news in Sunday's edition of The IKN Weekly (IKN342), another in our series of salutary tales about just why you, dear and kind retail mining company investor, really really REALLY need to pay attention to balance sheets.

PS: Bad Crook is paid $40,000 per month. Cash.

The use of passive voice in mining company news releases, IAMGOLD ( (IAG) edition

It could be done through this humble corner of cyberspace's famed Ottotrans, but in this we're about the use of annoying grammar tricks rather than content. And passive voice, my stars it's annoying and anyone who's riled at a politico who says "Mistakes were made" instead of "we made mistakes" will know the score on this one.

IAMGOLD, unably mismanaged by the apparently un-moveable Steve Letwin, shortlisted for World's Worst CEO for the last three years, gave us this pearl this evening (IKN highlights):
Five experts in rock mechanics, four of whom were mandated by the Company and one by the CSST, have made their recommendations after concluding that the root causes of the rock burst have been identified.

Why can't they just tell it as it is, write "We Totally Farked Up" and be done?

A fine quality musical interlude for your Wednesday viewing and listening pleasure

Talking Heads, Once In A Lifetime.

Posted from a shotgun shack in another part of the world.

Daniel Earle of TD Sec moves Guyana Goldfields (

This morning pre-bell, Daniel Earle of TD Sec upgraded Guyana Goldfields ( to spec buy and stuck a $4.00 target on the thing. And the reaction?

Not bad Dan, not bad at all. That's some heavy-hitting action for a bear market, Dan. You're boxing clever there, Dan. Hey, could you do the same for B2Gold soon? Thanks in advance.

Who got the Sweetheart-Level deal on SilverCrest Metals?

People who never lose got in at Sweetheart Level:

This SilverCrest Metals (the spin-out from when SVLC managed to sucker Neumeyer into buying its main assets) funding round is a great example of how badly the deck is stacked against retail. Data from here.

Luis Suarez scores a goal

Ah, now this is something. From the Barsa 6 Roma 1 game last night.

Chart of the day is... futures, long-term chart:

There comes a point when people who grow coffee refuse to sell it to you up there.

What racism in mining sounds like

Yesterday's piece by John Cumming in Northern Miner about the Minera IRL (MIRL.L) ( saga was obviously heavily biased towards Team Hodges (for example calling Daryl Hodges "savvy" and implying he had something to do with raising the $70m from COFIDE when in fact the charlatan is only savvy about money when it involves his own back pocket), but hey...there's ignorance everywhere. However, it's one of those rare occasions when the racist element in mining in South America, by which we refer to all you White Men With Burdens who come this way to kindly teach the locals and then start moaning when they don't react the way you require, shows its ugly head.

"If the Benavides-led group wins the day, Minera IRL Ltd. will quietly disappear into Peru’s mountains and jungles as the potential riches of the Ollachea gold project are squandered, and the town of Ollachea will ineluctably return to its centuries-long roots as a small-minded artisanal mining community, rather than an emerging modern mining camp."
The problem here: You get to hear this type of crap from the voices of White Male Miners in South America far too much, but it's normally when the hour is late, the wine bottles are three quarters done and the music is low. The sentiment above is all too common, the only rarity is seeing it in print.

For the record John Cumming, aside from the fact that you don't know what you're talking about and aside from the way the "natives-with-feathers-in-their-hair" have already put together a $240m financing deal without the help of Canada, you're a piece of shit.

UPDATE: Best mail so far comes from reader 'BB':
 "I almost choked on my muffin this morning when I read that quote from the loser at that publication without an editor. I guess they have free WiFi at The Pilot where I'm assuming he wrote it."

Yup. Once upon a time 'Northern Miner' was the media of record for the mining industry. Oh how the mighty fall. John Cumming would be instantly dismissed for that type of racist scumbaggery in any publication worth its salt. NM is one of those that hasn't atrophied and died with a bang, but with a whimper.