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Somebody named Eric Sprott...
But fear ye not, mortal, as tomorrow is All Saint's and evil will be banished from the Earth. Or summink.
Thanks to reader MB, these fun little datapoints reach IKN Nerve Centre™
Now is that cool data or what? Thanks MB.
Interest in Burkina Faso's resource potential continues to grow with 7 producing gold mines built since 2007 ranking it 4th amongst the African nations, and it is now attracting the interest of mining companies because it is a politically stable democracy with good infrastructure.
Lookie at what Sheldon did to Coro Mining (COP.to) yesterday at the close:
Betcha they're more worried at PNP about this price than they are at COP.
- You got a new PEA
- You got a strong post-tax IRR
- You got that even at today's lower gold price.
1) A dictionary. It's Colombia.
2) A map. It's not where you think it is. Honest. Buy one, look, check carefully the relationship between Ecuador and, let's say, Argentina. Or Chile. Or Brazil.
This is how this piece written by said dumbass gringo begins.
PS: Ecuador's surface area is greater than that of The United Kingdom, Steve. Buy a pocket calculator as well.
Ferfuxsek, it's 2014. Dumbass gringos.
UPDATE: Add U308 Corp (UWE.to) and Mega Uranium (MGA.to) to the list.
UPDATE 2: Kind reader G gives your humble scribe the headsup on Stockwatch, which has also noticed Pinetree's apparent distress.
Finally, Sheldon Inwentash's Pinetree Capital Ltd. (PNP) slipped 1.5 cents to 16.5 cents on 1.16 million shares. As we discussed yesterday, Pinetree seems to be on a selling spree, having sold 5.8 million shares of African Gold Group Inc. (AGG: $0.04) last week. The sales left it with 15.9 million shares, but today African Gold traded another 22 million shares, making it the most-active stock on the TSX-V. It told IIROC it had no material changes. International Northair Mines Ltd. (INM: $0.07) was the second-most-active trader, slipping one-half cent to seven cents on 7.4 million shares. Mr. Inwentash and Pinetree own 11.7 million shares of this company, and have yet to disclose any sales on SEDI. The third-most-active trader was Macusani Yellowcake Inc. (YEL: $0.04), which closed down one cent to four cents on 5.99 million shares. Mr. Inwentash and Pinetree own 3.1 million shares of this company, after unloading 18 million shares at four cents last week. Pinetree is in need of cash. It had $150,000 as of June 30, at which time it valued its investments at $188-million. This is down from $609-million three years earlier, when the stock was trading over $2.
"At any given time there exists an inventory of undiscovered embezzlement in — or more precisely not in — the country’s businesses and banks. This inventory — it should perhaps be called the bezzle — amounts at any moment to many millions of dollars. It also varies in size with the business cycle. In good times people are relaxed, trusting, and money is plentiful. But even though money is plentiful, there are always many people who need more. Under these circumstances the rate of embezzlement grows, the rate of discovery falls off, and the bezzle increases rapidly. In depression all this is reversed. Money is watched with a narrow, suspicious eye. The man who handles it is assumed to be dishonest until he proves himself otherwise. Audits are penetrating and meticulous. Commercial morality is enormously improved. The bezzle shrinks."
This is what they wrote:
And this is what it meansTORONTO, ONTARIO--(Marketwired - Oct 28, 2014) - African Gold Group, Inc. ("AGG" or the "Company") (TSX VENTURE:AGG), responding to a request from the Investment Industry Regulatory Organization of Canada, wishes to confirm that the Company's management is unaware of any material change in the Company's operations that would account for the recent increase in market activity.About African Gold Group
TORONTO, ONTARIO--(Marketwired - Oct 28, 2014) - African Gold Group, Inc. ("AGG" or the "Company") (TSX VENTURE:AGG), responding to a request from the Investment Industry Regulatory Organization of Canada, wishes to confirm that the Company's management knows that Sheldon Inwentash is dumping the merry fuck out of its stock but doesn't know why. He's doing it on other positions, too. So stop asking us.
About African Gold Group
From the 3q14 earnings call, today:
“Now Serbia. There's nothing in the natural resource business like Greenfield exploration. I mean nothing. The idea of making some investments in exploration defining a new asset in creating huge value. That is the happiest day you can have in a company like ours. And you know in the oil and gas business it happens a lot more frequently than it does in the mining business and that is again the support of about prices you go back to you think what are the big success stories you know during my long career in the mining business Greenfield exploration. They are few and far between. Few and far between. We have an active program Jim Bob worked with and we find Junior mining companies around the world on exploration concepts that have the potential to be big. The to look at anything unless it has the potential to be big. So that is why you haven't heard from us about this program. This does. You've been there. There have been some really exciting core holes that are controlled. A lot of work needs to be done. It's in an area that's traditional mining area for the government of Serbia is very anxious to see us come in and invest. The current status is we are not actively drilling out. We are working on partnership arrangements with our partner there. I saw them briefly in London when I was there last week. And we are excited about it. But it's longer-term a lot of work to be done but it is a greenfield project that if it is successful could add a lot of value to the company."
...has just been sent to subscribers, 45 minutes after the open on this beautiful Tuesday morning. A near-term trade, should help pay for the trick-or-treat toothrot and the pumpkin pie.
"It’s unclear why a single buyer is holding such a large amount of the copper stocks in London Metal Exchange (LME) warehouses, but..."Stop. Right. There.
The referenced chart of October 22nd found here. Today's update here:
- Libertad did well enough.
- Limon was well down due to water problems (no mention that killing employees due to the water problems was a main part of the issue, but hey...capitalism)
- Masbate underperformed again.
"...due to lower than anticipated production in the third quarter, the Company now expects its full-year 2014 consolidated production guidance to be marginally lower than previously guided."
...is this one. It contains the state burden expectations for the Fruta del Norte (FDN) project in Ecuador.
One of those occasions when reading the footnotes pays off.
The fast count numbers just released say that Dilma Rousseff has been re-elected in Brazil with 50.99% of valid votes, with 4.7% of fast count votes left to be tallied. Therefore it's close enough not to be able to call on the (normally very accurate) fast count and we'll have to wait until something official comes later, but the chances of Aecio Neves (on 49.01%) are now very slim indeed.
UPDATE: With 96% of votes, Dilma's now on 51.09%. This one is over.
UPDATE 2: 97% of votes counted, Dilma 51.32%, Aécio 48.67%. What's more, we hear the few remaining votes to be added are from the Northeastern region which is a PT (Dilma's party) stronghold. We may get close to my 52/48 guess after all, but the main news is now a done deal. Dilma wins.