The Daily IKN email digest, get all daily posts sent to you next day (& no ads)
A little list of suicides in the last week:
- William Broeksmit, ex- MD, Deutsche Bank asset managment, aged 58.
- Karl Slym, MD, Tata Motors, aged 51
- Gabriel Magee, leader of Fixed Income/Rates tech team JP Morgan London, aged 39 (who in time-honoured style jumped 500 feet from his own 33rd floor office building window to his death).
- Tim Dickenson, director of communications and human resources, Swiss Re London.
- Mike Dueker, chief economist at Russell Investments Seattle, aged 50.
When they ask you why the internets exist, show them this:
A peach of a goal for Barcelona today:
Because it's been in my head for about three months, for some reason. It's a personal Proustian memory of darker days, but a great track nevertheless. Perhaps there's some subconcious cleansing going on.
...the Bloomie will use to explain today's move in gold, using (of course) the world-famous IKN Bloomberg Gold Headline Generator:
Because I forgot to include the "on market wankery" option, basically.
...the five major regional trading currencies versus the US Dollar, three month timespan:
In order of weakness versus the Greenback, your offerings are:
- The Brazilian Real (BRL)
- The Chilean Peso (CLP)
- The Colombian Peso (COP)
- The Peruvian Nuevo Sol (PEN)
- The Mexican Peso (MXN)
Of the five, the Colombian Peso's recent drop has been grabbing headlines but the real fun one for me in the Chilean Peso, because its weakness is studiously ignored by all those who hold up that country's economy as their grand model. The same people who rail against the nasty uppity lefty countries for being primary export addicts, but ignore the fact that copper accounts for over half of everything Chile exports. Ah, bless 'em.
It's an easy one, too: If your broker advises you to buy Sulliden (SUE.to) today on the back of this news...
TORONTO, Sept. 11, 2013 /PRNewswire/ - Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (SUE.TO) (SUE.TO) (SDDDF) announces that Peru's Ministry of Energy and Mines ("MINEM") has approved the Environmental Impact Assessment ("EIA") for the Shahuindo gold and silver project in northern Peru. The approval of the EIA is the key milestone in the advancement of the project towards the construction phase. Continues here
Sooooooo...how have things been since then?
Oh goody, time for the return of Owly! What say you, Owly?
Yeah, thought you'd say that. Still, as soon as SUE.to wraps up its financing package things will be different and we can be almost quite definitely nearly absolutely certain(ish) that they're not having any issues with raising the cash for Shahuindo. Right, Justin?
... one noticed by twitterpal @goldfinder12 (h/t) from US OTC company Strategic Rare Earth Metals. It goes like this:
HENDERSON, Nev., Jan. 29, 2014 (GLOBE NEWSWIRE) -- Strategic Rare Earth Metals, Inc. (OTC Markets:SREH) announced today that the Company is actively pursuing a J/V with a Medical Marijuana Company.
Bill Schaefer, President of Strategic Rare Earth Metals, Inc., stated, I am very pleased and excited about the opportunities that lay ahead for the Company.continues here
And no, we are not making this up. On this groundbreaking news the company is up 75%....to just over 0.2c per share.
Bad news for Dynacor Gold (DNG.to)
As from January 1st 2014, the Peruvian authorities are cracking down on the illegally mined ores coming into Nazca and Chala. IKN predicts a margin squeeze at DNG as from 1q14.
Today, we have this from the company:
And the reason? Well, go take a look at the NR for yourself.Dynacor Temporarily Suspends Ore Purchases for its Huanca Gold and Silver Ore Processing Plant
Spotted in a major shopping mall in Lima last week:
If you think the recent share price action in these three stocks is coincidental and totally unrelated...
...the best suggestion that can be offered is that you stay away from the juniors forever.
It's right here and this is the central message...
"..if "I could give new traders a single piece of advice, it would be: “try to figure out what the guy on the other side of the trade is thinking.” If you’re bullish and you know the bear thesis, it should either help you change your mind because you realize that you’re wrong, or give you confidence that the other side is wrong. Either way, hearing someone voice sentiments on the other side of a trade shouldn’t make you mad. If you are the guy on the message boards typing “GO AWAY SHORTY” every time someone mentions that your thesis may not be based in reality, you need help, fast.
How is it that when community leaders are wrongfully targeted in the aftermath of violence connected with Tahoe Resources’ Escobal mine they spend months in jail, while the company’s former head of security who faces criminal charges for his alleged role in the violence last April is first given house arrest and then allowed to avoid prison by arguing that he is sick?
That’s what happened last week.
Former head of security Alberto Rotondo has been under house arrest since May 2013, when he was linked to an April shooting that left six injured outside Tahoe Resources’ mine in southeastern Guatemala. On January 22, he was declared in contempt of court for failure to attend a hearing. As a result, the substitute measures that allowed him to be under house arrest were lifted and an arrest warrant issued. But instead of going to jail, on January 23, he called in sick and went to the hospital instead where he remains under arrest.
In sharp contrast to the leniency shown Rotondo, when the Guatemalan government responded to last April's violence by declaring a state of siege in the municipality of San Rafael Las Flores in May, five community members were immediately jailed. Two were released on bail after a couple of months and three others spent six miserable months in prison. Finally, they were released without charge given lack of evidence that they had done anything wrong.
- We knew that Mason Hill had been adding to MAG because of the 10% rule in Canada and the ensuing disclosure there, but it's still good to note that Mason Hill moved its holdings up by about 1.4m shares, to 7,651,671, in the second half of 2013. That's 12.73% of shares out, by the way.
- Meanwhile, Mason Hill first took a big slug of Fortuna Silver (FVI.to) (FSM) back in 2012 and ended that year holding 7,932,400 shares. That saw a little adding in 4q13 (averaging down a bit, I'd boldly assume) and now they have 8,203,612 shares, or 6.51% of the company.
Sing it, Frank: