UPDATE: This made me laugh.
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UPDATE: This made me laugh.
Of course I enjoy myself! And knowing that I'm annoying the scumbags in the business makes it worth every moment. After all, if I weren't making enemies from the people who've been sucking retail shareholders dry for years and lining their nests by doing precisely nothing for the good of anybody except themselves I'd hardly be doing my job right now, would I?
And so brave of you, the anonymous hatemail! Your mother must be proud. Sadly for you, you're hardly unique as my only hatemailer, either. Hey, maybe you're one of those who has the power fantasy of meeting me on some dark night and beating my face to a pulp with a baseball bat, the guys in that subset really make me laugh.
So anyway, your firstname.lastname@example.org mail address is now blocked (well, it will be roughly five seconds after this mail goes out). I forgot to do that last time, so shame on me, hey? With that in mind, I'd really encourage you to reply to this and write a really, really long rant (using the same shitty grammar and spelling that belies your level of intelligence). And the longer the better, because the more time you waste on me the less time the people who have to suffer your physical presence need to interact with you.
They dumped all the mining side of their Canada branch mid-last year, now it's time for the full retreat:
Ry Cooder and his band have been playing this Mexican standard for many years. They make it sound great.
UPDATE: Iwnattos mails in to put me straight, which is kind
stick to what you know, dumbass :-)A central factory for donuts? Seriously? Ewwww.
They don't flip burgers at Tim Horton's. They only have donuts and coffee.
And the donuts are made in a central factory nowadays.
UPDATE 2: RC wrote in with the link on Tim Horton's centralized donut factory thing. Ewwwww. Oh, thanks btw RC. Still...ewwwwww...
It went up by 0.65%, which is hardly a panic attack:
Presumably, those panicking about the imminent death of the US economy are stocking up with guns first, then plenty of canned pork'n'beans. Later comes the bullion shopping. Or something.
Anyway, I'm more interested in seeing how the mining companies react to the news and that will start in 16 minutes' time, when the market opens.
UPDATE: Oh goody, EXN has decided to tell everyone. It took an hour from the appearance of this post to the appearance of corporate responsibility, though absolutely no phone calls to IR departments hurried this NR along, of course. Oh no no no no no.
The Gold Report: Turning to your financing, on Oct. 11 Sulliden successfully closed a $40M bought deal co-led by National Bank Financial and Scotia Capital. Are these funds going toward construction? And how much more money will you need for the completion of construction?
Justin Reid: The deal was very well taken and in the current environment we're very happy that it went so well. We have about $70M in the bank right now. We're looking to bring on contractors in our mine operation, which will save another $25–30M on our capex. What you'll see over the next couple of months is that we will roll in a debt package of between $50M and $60M, which will provide all the capital we need for construction.
We mandated Credit Suisse and Barclays last November for a $125M facility. Because of the optimization that we are doing and our current cash balance, we obviously won't need $125M, but we'll be able to finalize that over the next few months and bring in just enough to cover our development costs and working capital requirements during the construction and ramp-up phases. We are working through the due diligence right now and expect to have that finished very shortly. (continues here)
UPDATE: Here's how Peru and Chile mining mortality rates for the last four years compare. Gives a bit more context.
For this (picture source and AP report here):
*Maduro in Spanish means 'Mature'
Which came just a couple of hours before this:
TORONTO, ONTARIO--(Marketwired - Jan. 8, 2014) - Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") has temporarily suspended production at the RDM gold project, Brazil (the "Project"), which is wholly-owned by the Corporation's subsidiary, Mineração Riacho dos Machados Ltda. ("MRDM"). The suspension follows receipt by MRDM of a temporary suspension of the Autorização Provisória de Operação ("APO") which was previously announced on December 13, 2013. The conditions leading to the suspension of the APO are primarily the result of unusual recent heavy rainfall at the site. MRDM is working with SUPRAM to assess the extent of the remediation works required to have the suspension of the APO lifted. The Corporation will provide further updates in this regard as they become available.
Hey Christos Doulis of Stonecap, didn't your mother ever warn you about playing with lighted matches?
More good news! South American Silver management (SAC.to) had a very merry Christmas and would like to thank all you suckers out there for buying their shares
Locals from Cañaris, in Lambayeque region, have announced that in the next few days they will resume their protests against the Cañariaco mining project, under development by the Candente Copper mining company, after hearing that drilling work will begin again in the zone.
Richard Rinza Lucero, a member of the community, said that the Canadian company had made public the re-start of exploration work in the region and placing under threat the natural resources they the community have always defended.
"We have already scheduled a public meeting in the Cañaris zone for February 17th. Our position continues to be the same, that of outright rejection of any activity that threatens our resources. Tomorrow we will resolve at a meeting what means of protest we will take", he told RPP Noticias.
Equally, Cristobal Barrios, the recently elected regional president of the rural 'rondero' committee, said that the first issue to analyze will be that of mining concessions, particularly those in the Andean zone.
"I believe that locals, and now with even more energy, will re-start this struggle. We will continue to defend that which is ours, the mining problem cannot continue affecting our people", he said.
Both were clear in saying that the round table working groups (last year between government, company and locals) did nothing to help solve the environmental and social conflict that has been generated and had placed under threat the tranquility of Andean communities in the Lambayeque region.
The dregs of the capital markets, on display for your enjoyment and education. Avoid people and companies like these at all costs.
Meanwhile, the ex-director of CEPAL criticized the qualification between "good and bad economic development" that is "done by media channels" by separating the governments of right and left.
"This division is false. Among the countries with orthodox economic policies is Mexico, which has a poor development in economic terms and is the least dynamic economy in Latin America along with Venezuela and El Salvador", he said.
On the other side of the coin are countries "on the (political) left with very good development", such as Ecuador and Bolivia, that are "reducing inequality to the lowest levels in Latin America."
PS: Full disclosure: Short PVG, because apparently I have to assume that you can't fucking read or something. Jeesh, freakin' anal mailbag this morning.
...has just been sent to subscribers, mid-morning Tuesday. A little profit taken, nothing special.
PS: Oh yeah, this:
So which ones have we missed?
UPDATE: Thanks to reader CS for:
...Nicaragua's export mix for the last seven years:
And oh look! See what the number one export was in 2013, for the first time ever?
Chart taken from a longer note in IKN244, out yesterday.
Because this time it's Robert Frost's short poem, 'A question':