For @octavodepollo and also just for the hell of it, cos it's Saturday:
The Daily IKN email digest, get all daily posts sent to you next day (& no ads)
- Get paid in dollars and get to spend them at the unofficial exchange rate. You'll live like a king.
- Live in one serious nutbar of a country and witness first hand all the goings on and get paid for the privilege of doing so. Anything you've done before or will do in the future will pale by comparison
- Cover the only South American country that the English speaking North cares about (and with the sidebar chance of getting to cover the Snowden story).
- Cheap fuel
- More arepas (hint: you'll like arepas)
- Reporting on one of the world's highest murder rates without becoming part of the story...hopefully
The Associated Press seeks an experienced, inventive correspondent to be its Chief of Bureau in Caracas, Venezuela. The successful candidate will report to Latin American Editor. currently based in Mexico City, and work closely with AP staff from all formats across the region and globally.
The Chief of Bureau will serve as a reporter/writer/multimedia journalist and run AP's Caracas bureau. The Chief of Bureau will be tasked with managing a team that produces spot news, enterprise and high-impact stories, photos and video in traditional and new storytelling formats. The Venezuela story is among the most challenging and competitive in Latin America as the oil-rich nation enters the post-Hugo Chavez era. The job encompasses keeping the AP ahead of the pack through standout personal production, source development and leadership of a team of mostly Spanish-language journalists. The chief of bureau must be willing to switch into 24/7 mode as news demands. Flexible work hours including nights, weekends and holidays will often be required
A proven track record publishing exclusives, captivating deadline writing, social media engagement and management in stressful environments is required. Photography and video production skills highly desired. The job includes administrative responsibilities. Candidates should have demonstrated excellence in managing a news staff, in responding aggressively to breaking news and crafting distinctive, incisive enterprise. Candidates must be able to guide staffers in working efficiently and accurately on deadline. Complete fluency in written and spoken English and Spanish is required. Candidates must be able to work flexible work schedules, including frequent evening, weekend and holiday shifts. Authorization to work in the Venezuela is mandatory.
* i.e. not married, employable, able to stand working for a boss for once in my pathetic working life
For @claushot, who's got cat class and got cat style.
AKA "Bargain hunters" overpaying for idiots. The end
...is the way it's still massively overvalued:
It's HOC exit time and today's dumpage on the bell is a mere hors d'oeuvre, mes braves.
UPDATE: Accelerating now...
UPDATE 2: Would the last one to leave please turn out the lights? Thanks in advance.
1. Trends in global exploration spend Forecast future spend out to 2020 & financing issues for Junior Companies
2. Trends in discovery rates Where were the discoveries made? Current “Hot Spots” for exploration
3. Trends in discovery performance Which Regions did better? Factors impacting on discovery performance
4. Trends in the types of exploration methods used Geophysics versus geochemistry versus “nearology”
5. Trends in discovery costs Unit discovery costs ($/oz, c/lb) are rising
6. Are we finding enough metal? To be sustainable we need to find enough to replace what we mine
...five days of B2Gold (BTO.to), all special for Iwnattos:
There's your first 20%, dude. Now what ya gonna do? Huh? Huh?
As reader 'T' points out today:
"Aeroflot 150 has a different flight path today… normally it would go over the USA so what are they trying to avoid? "
Seriously, have a look at those two links for yourself.
UPDATE: Reader 'P' chimes in:
Currently Ed is flying through the Bermuda Triangle. Yes i had to look up where it was.
The perfect storm. Grab the popcorn.
UPDATE 2: It was fun while it lasted. The Pravda will out in the end
Veris Gold Corp (C:VG)Shares Issued 107,641,344Last Close 7/10/2013 $0.49Thursday July 11 2013 - Street Wireby Mike CaswellVeris Gold Corp. says it fired its former chief executive officer, Randy Reichert, after "very serious problems" that included an angry outburst at a trade show and an incident of "inexplicable rage" at the Jerritt Canyon mine. His treatment of employees was abusive, intimidating and degrading, the company claims. The problems were serious enough that they amounted to just cause for his termination, according to Veris.The company is responding to a wrongful dismissal lawsuit that Mr. Reichert filed in the Supreme Court of British Columbia on June 14, 2013. Mr. Reichert complained that the company dismissed him from his job as co-CEO in a "high handed" manner after he questioned possible inappropriate actions by senior executives and board members. Among other things, Mr. Reichert had attempted to block the company's chairman from buying shares with knowledge of a potential takeover bid, the suit stated.Veris, however, says that that it had just cause to fire Mr. Reichert. In a response filed on Monday, July 8, the company lists a number of incidents in which he mistreated employees "to an extent far beyond acceptable boundaries." Among other things, he humiliated employees in open view of others and reacted angrily when anybody appeared to question or disagree with him, the company claims.
We're just before the open on a day on which a little reminder of their business model may well be required:
"As a consequence of the recent drop in metal prices and the need to conserve existing cash reserves, the Company has decided to evaluate alternative sources of funding."
First time for a long time that any sort of interesting move has been up.
"...the post today isn't about a dose of them there sour grapes (it's only money, after all) and more about how I'm sick and tired of having to listen to, read and pay attention to liars and scumballs in the mining industry such as Lenic Rodriguez, Pres/CEO of Aurcana. What we have in this case isn't a subjective opinion that he's a liar either, as the company's own words make it abundantly clear that AUN.v told outright falsehoods to the market in December 2012. As such, and considering the hefty share price drop between then and now, AUN.v looks ripe for a potential class action suit."
...and went on to make clear the falsehood about its 600tpd commercial mining rate at Shafter.
Today, July 10th, we get this on the wires:
The proposed class action concerns the circumstances surrounding Aurcana Corporation's April 12, 2013 announcement that its Shafter Mine had not reached its initial production target of 600 tons per day on a continuous basis. Since the announcement, the company's share price has declined significantly.
Sutts, Strosberg LLP is a leading class action law firm that has recovered over $1.5 billion for its clients.
SOURCE: Sutts, Strosberg LLP Barristers & Solicitors
Aurcana has noted a press release of Sutts, Strosberg LLP, a law firm located in Ontario that engages in plaintiff class-action lawsuits, in which Sutts, Strosberg has asked Aurcana's shareholders to contact it in relation to declines in Aurcana's stock price in recent months. While Aurcana's management is not pleased with the recent trend in Aurcana's stock price, it does not believe that the current stock price reflects the underlying value of the Company, and it notes that there have been significant declines in the stock prices of almost all silver producers over this period. There is no basis for a class-action claim in relation to Aurcana's stock price.
Barrick Gold's (NYSE: ABX) expected asset writedowns of $5.5 billion on the Pascua Lama project in Chile would slash the company's net worth by roughly 40%, shrinking its credit facility 'cushion' to $4.1 billion, Bloomberg reported Tuesday.
The company needs to hold a "consolidated tangible net worth" of at least $3 billion in order to sustain its $4 billion revolving credit facility.
"Oh, I know what I'll do! I'll voluntarily write down such a big portion of our fixed assets that we lose our debt facility and cause a cash crunch and liquidity crisis at the company! Hey, what a smart boss I am!"
...if you read IKN you knew yesterday.
There was no need to wait for the Pavlovian dog response from the brokerage downgrades today.
Ryan Sharp's CV (your author's highlight in bold type):
Mr. Ryan Sharp, BA MBA has been the Chief Executive Officer and President of Huldra Silver Inc. since June 2010. Mr. Sharp has been the Chief Executive Officer and President of Venerable Ventures Ltd. since February 1, 2010. Mr. Sharp is also the Promoter of Venerable Ventures Ltd. He has been the President and Chief Executive of Huldra Silver Inc. since May 2010. Since March 2009, he has been self-employed as a consultant working with public companies. Mr. Sharp was employed as an investment advisor for Canaccord Genuity Corp. from January 2005 to March 2009. From December 2002 to December 2004, he was employed as an investment advisor for Scotia Capital. He has been a Director of Huldra Silver Inc. since March 25, 2010 and Venerable Ventures Ltd. since February 1, 2010. Mr. Sharp obtained his MBA from Simon Fraser University in British Columbia in 2003 and a Bachelor of Arts from the University of Western Ontario in 1991.
And Huldra Silver (HDA.v) today has news on Ryan Sharp:
The Company has appointed Peter Espig, a director of the Company, as interim CEO to replace Ryan Sharp.
Colombian president Juan Manuel Santos on Monday announced the arrest of an ELN rebel commander held responsible for orchestrating the kidnapping of a Canadian citizen earlier this year.
Full NR here
So remind us again how much Coeur paid for Orko Silver? $100m cash and 11.5m shares, you say?
PS: I only post these things to have wonky mail exchanges with certain people the next day, so don't read too much into it or start thinking that I'm trying to get a posse together to go shake up the town.
Which translates as, "Well, they called us nasty names, didn't they? We're not standing for that, we're the army!".
IKN218 has just been sent to clients. We do regional risk.