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Kaminak Gold Corporation (TSX VENTURE:KAM) (the "Company") is pleased to announce that it has appointed Raymond James Ltd. to lead a syndicate of underwriters, which includes RBC Dominion Securities Inc., Beacon Securities Limited, Canaccord Genuity Corp., Cormark Securities Inc. and Mackie Research Capital Corporation, to sell by way of private placement on a "bought" deal basis, $2.5 million of flow-through shares at an issue price of $0.95 per flow-through share (the "Offering"). continues here
, /CNW/ - (TSX:SCP) - Sprott Resource Corp. ("SRC") is pleased to announce that it intends to commence a normal course issuer bid (the "Bid") to repurchase up to 8.5 million of its common shares (the "Shares"), representing approximately 9.54% of the public float of SRC and approximately 8.52% of the total number of issued and outstanding Shares. As at , there were 99,719,097 Shares of SRC outstanding. Purchases will be made for cancellation through the facilities of the Toronto Stock Exchange (the "TSX") or other Canadian market places at the prevailing market price of the Shares.continues here
PS: Today yet again underscores and reminds your author just how much smarter and better Calculated Risk is compared to the rest of the chattersphere.
...gold (GLD) versus silver (SLV) versus PMs (GDX) versus juniors (GDXJ) ETFs, last ten days:
Like I said, caution rewarded.
Maybe that there diplomatic Nobel Peace Prize winner Obama will consider threatening to bomb Brazil too
"Only $100 bills get shipped by counterfeiters to the United States, while $10s and $20s are sent to Peru's neighbors, Portocarrero said. Demand is particularly great in Argentina and Venezuela because currency controls make the dollar so coveted and they mostly circulate on the black market."Read the whole thing here
...the gold/copper ratio, 12 months:
- $20 win Peru at 7/5, total theoretical return on bet $48. I think home advantage will be enough to swing this one. But money or not, it promises to be a great match (far more important)
- $8 draw Colombia/Ecuador at 14/5, total theoretical return on bet $30.40. This is taken as a value bet that covers the total stakes on the round if Peru fails to win. Colombia are favourites for the game, but the odds of the draw are too good to ignore.
UPDATE Saturday AM: Aaaaaaand I suck at this. Uruguay beat Peru 2-1 (but yes, it was an intense and very watchable game) while Colombia sneaked a 1-0 win at home (Ecuador missed a penalty). So no soup for me on this week's bets and now just $42.55 left in the piggy bank for next week's bets.
One of these people has enjoyed years of success and popularity in Argentina
The other is President of the country. The occasion was this.
Orwell would be proud of us all.
UPDATE: All is not lost, there are still patches of life out there. Reader 'W" writes:
Concerning Orwellian phraseology or neologisms and your coining "unpeace." I can't not (sic) chime in:
From my mythical "Orwell Says Dictionary," proudly published by Rat in a Open Sided Cage Stuck to Your Face:
Pluspeace: n The legitimate actions of Your State to achieve friendship.
Doublepluspeace n The outcome of pluspeace.
- Ubinas is a particularly active volcano in the Moquegua region of South Peru, with a recent history of eruptions that have seen locals having to pack up and evacuate on more than one occasion in recent years.
- This year, winter has been wetter than usual in the South and there's been plenty of snow.
- Now that the Andean winter is drawing to a close and the snows are beginning to melt, more than the usual amount of water is seeping into Ubinas and collecting near the active lava chamber.
- Let's suppose you're offered up a feas study (FS) for a copper project. A fairly typical parameter thingy of $350m capex for a 15 year mine life and a base-case IRR of 16.8% post-tax. You certainly wouldn't dismiss it out of hand on those numbers.
- Now, let's suppose that about half the revenues in the plan come from copper, with the other half from credit metals. Not a problem.
- Now, let's suppose you keep reading down the FS and then you see that the base case price that the project uses for copper average sales price over life of mine is 48.5% higher than the current spot price*. Or in rough terms, the FS uses a ~$6.00/lb copper price for its calculations. Would that kinda maybe start to eensy weensy put you off the idea of this mine project, perhaps and perchance? Yeah, me too.
UPDATE: All the above came pre-bell, so let's see how Matamec (MAT.v) opened on the news this morning:
Oh, that well? Hoodathunkit. Certainly looking forward to reading Lobito's take on the Feas.
...Uranium Participation corp (U.to) as a decent proxy to the metal:
(Reuters) - Radiation readings around tanks holding contaminated water at the crippled Fukushima nuclear plant have spiked by more than a fifth to their highest levels, Japan's nuclear regulator said, heightening concerns about the clean-up of the worst atomic disaster in almost three decades.
...Readings just above the ground near a set of tanks at the plant showed radiation as high as 2,200 millisieverts (mSv), the Nuclear Regulation Authority (NRA) said on Wednesday. The previous high in areas holding the tanks was the 1,800 mSv recorded on Saturday.Both levels would be enough to kill an unprotected person within hours. The NRA has said the recently discovered hotspots are highly concentrated and easily shielded.
In chart form:
July 2013's number (96,012 oz Au) was published today.
UPDATE: I'm asked for some annual numbers. No probs, here's back to 2002:
All from the same MEM source