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10/9/15

The Friday OT: Holst, Planets Suite, Mars (bringer of war)

Dedicated to the upcoming Minera IRL EGM



Cry havoc and let slip them there doggies

How IKN tries to help its esteemed audience to make a little money in the market

On Monday, This post "New Gold (NGD) (NGD.to) Escape Velocity" called the stock as about to move higher and with U$3 as the first target.


Today it's 21.2% higher. Not bad for four days.

Just sayin'

UPDATED: The directors of Minera IRL (IRL.to) (MIRL.L) once again refuse to disclose an important material event

Just last week we saw how the Hodges lackeys and wannabe usurpers in charge at Minera IRL (IRL.to) (MIRL.L) took two days to disclose an important material event, i.e. the resignation of the company's CFO.

Today the same thing is happening. This time the directors are trying everything they can to avoid disclosing to the market that earlier this week a group of concerned shareholders filed all the official documentation calling for an EGM, with the intention of voting down the current board, kicking them out and replacing them with a new team of directors. These are of course the same sneak thieves who said they were providing new and necessary transparency at the company.

Therefore IKN asks: When are you going to have the common decency to tell the market about the EGM and the proxy slate, Hodges/Higgins/Pinto/Fryer/Jones?

UPDATE: Hi guys!


UPDATE 2 three hours later:

Isn't this fun?

Mining Anal ysts: IKN 100% with MJ

1) Get a hold of a copy of this week's Mining Journal (MJ)

2) Go to page 30 and the regular column, View From The West End

3) It includes this:

"Analysts do not in general analyse, or at least not properly. 

"If one were true to the science, analysis would involve the collection of data, some crunching and then a bit of a think to come up with the most likely outcome – in theory. But alas, theory is not of much use in the markets. With continuous disclosure, detailed company guidance and a 24/7 wired world, there is blessed little that an analyst can actually say that any fund manager with half a brain doesn’t already know, other than by accident. Research then tends to fall into two camps:
Research on junior miners, which is really little more than advertising put out by the supporting broker with a vested interest in pumping up the latest bit of tripe they just floated.

"Research on major miners, which is really little more than different ways of presenting what the company has already announced, and never veers more than a few bips from consensus lest the company get annoyed and cut the broker off from the boozy site visits."


The whole thing is worth reading, but that is so exactly right.

10/7/15

How the current board of directors at Minera IRL (IRL.to) (MIRL.L) wastes money

Yesterday October 6th, the newspaper USA Today ran a supplement in its dead tree edition. The 12 page supplement is called "Our World" and was about Peru. If you'd like to see the thing online, you can go to this link and then on the right near the top click on the link to the PDF edition dated October 6th in the "Country Reports" banner, which looks like this:

Then when your PDF is downloaded, go to page five and you'll see this quarter-page advert for Minera IRL:




There's no other mention of IRL in the publication.

The Hodges Lackeys Board of Directors paid U$33,000 cash to place that single advert. Thirty-three thousand United States Dollars.

Then again, they get it placed for free on IKN.

UPDATE: Reader 'BB' makes a good point:
"What makes this even more of a waste of money, if that's possible, IMO, is that if anyone decided to check out the company after seeing the ad, they'd see that trading has been halted etc etc. Embarrassing."

Standard T(r)olling (TON.v): A quick Ottotrans

A part of this NR:

Mr. Leonard Clough, President and CEO of Standard, commented "The fundamental basis of this transaction lies in our collective belief that gradually ramping up and fully optimizing one processing plant is better than operating two plants below full capacity at potentially non-optimized margins. While the capital cost to complete construction at the Northern gold plant is relatively modest, the challenges associated with achieving sustainable margins, commissioning costs, potential export licencing delays, and time associated with recovering the 18% IGV/VAT, all in a capital-starved market, increase uncertainty, and make the commissioning exercise seem somewhat unrealistic at this time. While the business opportunity of toll processing remains solid, staying power is critical, and we believe a combination with Inca One helps achieve that. I look forward to assisting Edward Kelly and his team in sharing the new story, one of free cash flow, sustainability, and calculated expansion."

Translation: "We couldn't raise the money".

And another promising company is crushed by the wheels of industry. So it goes.

Franco Nevada's (FNV) deal with Antamina

That's one helluva good deal, Pierre.

10/6/15

Timmins Gold (TGD) TMM.to): Reader 'RW' and your humble scribe are in complete agreement about...

...today's news from TMM regarding the departure of (now erstwhile) CEO Bruce Bragagnolo.

We both think it's amazing that Steve Letwin is still boss at IAMGOLD.

As for the TMM news, the stock is 10% up on strong volume. And that's all the commentary you'll ever need. Bye bye Bruce.

The undoubted genius of sellside anal ysts

Gold's up, the stocks are popping higher, we're suddenly all smart again.

So it goes.

10/5/15

Another Gran Colombia Gold (GCM.to) murder

What fun. The need-to-know is:

Fernando Augusto Silva Henao, 45, one of the leaders of the miners working for Gran Colombia Gold (GCM.to) was shot dead last Thursday after leaving his home on the way to work. He took six bullets. Suspicion has fallen on the ultra-right-wing Urabeños paramilitary group in the area, because the workers have refused to pay them any more protection money. The approximate 1,500 workers are now on strike t protest the insecurity under which they work.

Link here.

OT: Regarding advertising revenues and ad blocking software

In the last three months I've watched as the advertising revenue from the ads run here at IKN has dropped off considerably. Here's a chart that shows the monthly US Dollar earnings from those ads since 2012:


It's always been around U$150/month from the ads (nobody's idea of a king's ransom, but it pays a few bills) but now and for the first time since 2009 I've had months that score less than U$100. The last two months, to be precise. As blog visitor numbers haven't dropped off in the period (in fact they've been growing) the only thing that comes to mind is the recent rise in the use of advert blocking software such as Adblock (which for the record i use too) or Ghostery (which i also use and for me is the better of the two). There's been some sort of critical mass reached with the popularity of ad-blocking in these recent months, i see the subject discussed a lot over the interwebz, things of that sort. From my admittedly anecdotal evidence, there may be a surprise in store in the quarterly results of companes that rely on this income far more than your humble scribe will ever do for his hundred or hundred-fifty.

UPDATE: In an ironic twist, reader SB writes in to say that...

"...the chart on this page doesn’t show up unless you turn off adblock."

Gotta laugh.

New Gold (NGD) (NGD.to) escape velocity

It's about to run.



U$3 here we come. And yes, I own a few.

Violence in Guerrero Mexico: LADB and IKN

Today's post at Latin American Daily Briefing is entitled "Recommendations to reduce violence in Guerrero and corruption in Mexico" and its a fine read with plenty of useful links (I've just spent the last 20 minutes doing clicks from there). However, this humble corner of cyberspace would like to add one more suggestion to the ideas presented in the LADB post. 

All you really need to do to reduce violence in Guerrero is to put the whole issue in the hands of junior mining investment relations professionals because according to that fine upstanding and wholly transparent group of human beings, the violence simply doesn't exist. Y'see, simple really. Beats me why nobody else has thought of it.

Rubicon (RMX.to) (RBY) has news this morning

Pollution issues and tailings management issues and CEOs suddenly leaving companies.



Not funny.

The IKN Weekly, out now




IKN334 has just been sent to subscribers. After a few weeks worth of stunning and innovative Weeklies, we're back to the normal mediocre balderdash.

10/4/15

The top three most visited IKN posts this week are...

...in reverse order:

Third Place: "Inca One (IO.v): I love these guys", which at this end of the pipe also garnered some entertaining mails from a couple of you (thanks, people). Needless to say, they confirmed your humble scribe's negative view of this particular company.

Second Place: "(UPDATED) A short post designed to explain to the readers of IKN the moral bankruptcy of the current Minera IRL (MIRL.L) (IRL.to) board of directors". IRL's board decided not to pay its rank and file staf. IRL's board is very stupid.

First Place: "The latest BS lie from Minera IRL's (IRL.to) (MIRL.L) Hodges/Higgins lackeys". which probably got the hits it got because in it, IKN revealed the departure of Minera IRL's CFO two full days before the company did. Jolly fun, no?