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A two-year-old boy was kidnapped yesterday morning as a Canadian-owned gold mine and its employees continue to be a target for criminals in Guerrero.Two men and a woman were waiting outside the home of Gonzalo Godines García in the Los Sauces neighborhood of Chilpancingo when he left for work at the Goldcorp mine in Carrizalillo about 6:30am.He was taken back into his house at gunpoint where he was tied up with his wife. The assailants then made off with the couple’s toddler son, Gonzalo Godines Almazán, after his parents told them they could not meet their ransom demand.The kidnappers said they would return the child when the parents were able to make the payment. Continues here
Leonard laid down this version in 1978. It rocks. Youtube link here:
Peter Marrone wants his millionaire deal commish and he doesn't care how much it costs (you AUY shareholders).
The Brio Gold (aka Brio-X) spinout 2.0 is in the pipeline, official news soon.
- Keiko's "thirty plus" rating has been solid for months and months, she remains the clear leader but doesn't have a chance of winning in round one (April 10th).
- Julio Guzmán is having a good week. His candidacy problems have been (all but) cleared up by the Peru electoral body and he's going to be a candidate, no throwing out at the last minute. Plus this poll, which puts him in a clear second place in front of "the dinosaurs".
- César Acuña is down 5.3% from the last CPI poll of last month and is not having a good week. Not having a good year in fact. Good. Goodbye.
- PPK has dropped away badly and Alan García's campaign has been a dead duck so far. Both surprises for your humble scribe, both part of Peru's shift away from The Usual Suspects and towards the new face of Guzmán.
- The above covers 72.5% of voter intention. The rest is covered by the minor vote candidates (there are another 13 left in, intention for each starts at 4.1% and goes lower and lower) and the spoil ballot/don't know/no answer brigade.
...zinc , five year spot (thanks Kitco, nice people):
He was arrested yesterday in Colombia. He should be deported back to Panama today, at which point he'll be charged with fraud.
By the way, this case has the potential to cause First Quantum some embarrassment. Let's see how things develop.
So what about some highlights
- If you take a happy medium, production forecast for 2016 is around 10% lower than the 2015 booked production
- It's cutting the dividend from 2c per month to 2c per quarter
- It mined 3.4m oz gold in 2015, but in the same period reserves dropped by 8.9m oz.
- It lost a over billion dollars on operations in the fourth quarter.
- It took a $4.9Bn impairment.
But apart from that, great quarter! NR here.
What If I told you:
- That a successful academic, who built on his academic success by founding a university and making himself very rich indeed, was running for the Presidency of your country.
- That he was running second in voter intention polls with just three months to go before the vote.
- That suddenly people found out that his academic background was suspect, including an extremely strong case of plagiarism (we covered on IKN right here on January 27th) in his Master's degree.
- That further investigation found evidence of plagiarism in his original bachelor's degree.
- Then when it seemed it couldn't get any worse, he was found to have taken a academic-level book written by his university professor, changed the name of the author to his own, then passed it off as his own work for 15 years, including several new editions.
- But when faced with that latest charge of intellectual theft, he held a press conference to show, via a document he waved to the press corps but didn't let them see close-up, he had permission to co-author the book from his professor, something that the professor strenuously denies.
- And as cherry on top of the cake, when people started investigating the document used by the candidate as evidence he was in the right, they found that the professor's signature had been forged.
PS: Some music to accompany this post.
Bart Simpson has a message for Teck, Yamana, Eldorado, HudBay and all companies hoodwinking the naive in their financial reports
Interesting I think, what with its market leader status:
Three's a charm or same-as-it-ever-was? You be the judge.
UPDATE: FNV just broke though U$60.
Correct and correct.
I fell out bigtime with Tim Oliver when he decided to join that scam, told him in no uncertain words what I thought. So when he bailed I didn't get to hear from him firsthand (he's still mad at me, i don't care) but I know second-hand that he saw for himself the scam and, to give him credit, got out before his reputation was damaged. He can't make any public comments (obviously) and i dunno what he did with his options, but tail-between-legs exit, eso sin duda che.
It's a complete Vancouver Howe St BS special.
That’s the problem though. LIX won’t die suddenly. I’ve seen the movie before. The Giustra jet engine will suck in its followers into the jet-intake, the street will eat Frank’s 2 cents of acb from his shell for years to come. 10-20 people will make money on this, all Frank’s inner circle.
PPS: Honoured your Patsy Cline bet yet, Frank? Planning to soon? Or were you "just joking around"?
UPDATE: Reader 'ST' chirps in with...
Oh, snap! Fret not ST, I can take 'em on the chin.
(A repeat showing by popular request*)
- Want a book?
- Want a book about a subject in China?
- Want it in an English translation?
- Looking high and low for a copy?
Well perhaps you'd better keep searching in another place.
*One person. IKN's idea of popular doesn't necessarily have to coincide with yours.
...Pretium (PVG) vs the precious metals miners' ETF (GDX):
Kinda quiet out there in OttoKnowsNothingLand, hey Tommy...
...posting will be light this morning.
UPDATE: Make that all day.
..."Life is what happens to you while you're busy making other plans".
Great photo from Barcelona today.
IKN's ten shillings and sixpence is on McEwen Mining (MUX) because:
- Robbie Mac is many things, but theres no denying he's sharp as a tack.
- The base shelf prospectus is already filed pre-Xmas, sitting there all ready and waiting.
- He wants maybe U$50m to build Gold Bar.
- The stock has doubled and back to an honourable level. He won't get pushback on dilution.
So there you go. Got any better ideas out there?
120 large at overnight marketed price. Explains at least one part of the recent weakness.
Pretium Resources Inc.. (TSX/NYSE: PVG) -- Overnight Marketed ~US$120MM of Common Shares -- Priced in the context of market (last trade: US$5.05)Prospectus TimetableFebruary 22, 2016: Preliminary Prospectus Supplement FiledFebruary 23, 2016: Final Pricing/Terms and Prospectus Supplement Filed March 1, 2016: Closing of Offering
Transaction SummaryLeads: CIBC/RBC/Scotiabank 17.83% each
Co-Managers: TBD 46.51%
Treasury Issuer: Pretium Resources Inc. (“Pretium” or the “Company”)
Issue:Offering (the “Offering”) of approximately ● common shares (the “Common Shares”).
Issue Price: U.S.$● per Common Share, which shall be determined by the Company and the Underwriters in connection with the marketing process.
Amount: Approximately U.S.$120,000,000.
Over-Allotment Option: The Company has granted the Underwriters an option, exercisable at the Issue Price for a period of 30 days following the closing of the Offering, to purchase up to an additional U.S.$10,000,000 of Common Shares to cover over-allotments, if any.
Use of Proceeds:The Company intends to use the net proceeds of the Offering (i) to fund development of the Brucejack Project, (ii) for working capital during start-up and (iii) for general corporate purposes.
Form of Offering:Offered by way of a shelf prospectus in all provinces of Canada, except Quebec, in the United States pursuant to the Multi-Jurisdictional Disclosure System, and internationally as expressly permitted by the Company.
Listing: The existing common shares of Pretium are listed on the TSX and the NYSE under the symbol “PVG”.
Eligibility: The Common Shares issued in this offering will be a qualified investment for RRSPs, RRIFs, DPSPs, RDSPs, RESPs and TFSA’s.
Pricing Date: On or about February 23, 2016.
Closing Date: On or about March 1, 2016.
Comment: This is an overnight marketed offering for Common Shares in US$ priced in the context of the market (last trade: US$5.05).
Lithium in Chile: Where the big boys goNot fake scams in Clayton Valley, here’s where the real lithium action is and will happen. Since President Bachelet announced a few weeks ago that lithium would become a strategic mineral and subject to separate growth plans during her government, the interest in the metal in Chile (and its continued stratospheric price rises on the world market, with battery-grade Lithium Carbonate now apparently fetching up to U$28,000/tonne) has gone mainstream.Last week we had a new round of news with, depending on which report you read (here are two as examples (16) (17)), between six and nine foreign companies having already made formal approaches to Chile’s Ministry of Energy and Mines as regards lithium concessions, exploration, development and even production plans, with two of those inquiries including full scale presentations on planned development and production. The names of companies haven’t been officially released but reporters have already identified a few of the companies looking to move into the Chilean lithium sector and they’re some of the biggest in the world, including South Korea’s POSCO, Australia’s Talison, Japanese lithium specialist Li Energy and a company from the United States called Tesla, a name that’s probably familiar to you already.I’ve made this point before and I’ll make it again, when it comes to lithium Chile is the number one world producer but more importantly, when it comes to the growth potential of lithium production Chile is also number one. It has the permitting procedure down pat, the infrastructure is there, the country is very miner-friendly in both fiscal and judicial terms and the scalability of its Li sector means it will ramp up faster than any other region in the world (and that includes Clayton Valley, an area play promotion scam par excellence).
My thanks to reader 'MS' who sent the link to this BNN segment into IKN Nerve Centre. Here's what MS had to say about it:
Could this be the worst performance ever by a mining company CEO on national TV? What was he thinking?
I think on one level Trump's campaign is clever. He (or his team) has identified that there's been a big growth in GOP supporters who are 1) disenfranchised with the whole political system and 2) are plug dumb stupid. So he pitches to them, he gains their support with the most facile of slogans ("he's gonna make America great again because it says so on his baseball cap"), keeps them amused and entertained with anti-system potshots that fit his "You're Fired!" TV personality.My question: What happens in round 2 of the campaign, when he gets the GOP nomination (which now seems likely) and is up against (probably) Hillary? The classic move is towards the centre, to pick up the support of the 4% or 5% of US citizens who swing the country either way in any given election. He'll have the mouthbreathers sewn up and on his side by then, he won't need to pander to them any longer, they've served his Round One purpose. He'll be able to soundbite himself as more intelligent, surprise people with his "depth of understanding on the issues", all the racist sexist bigotry bile is filed away for another day. He'll lull them to sleep, he's going to look least worst among moderate GOPpers who couldn't possibly vote for him in the primaries but just the thought of tactically voting a Clinton into office in order to avoid a circus barker in the oval office brings them out in a cold sweat.And Hillary, like her or not, has a whole trainload of baggage, is an easy target on several fronts and isn't a person who the undecided will happily float towards. She's the dream opposition for Trump, his negative attacks will be an onslaught. And though I like Sanders and his policies (you up there call him commie, he's classic centre-left no more) he's doesn't have a chance. So how does DEM stop Trump? If Mikey B runs independently he'll take more votes away from Hillary than The Donald, he opens the door for Trump. So as far as I can see, the only way is if Bloomberg gets the DEM nomination, or creates a Bloomberg/Hillary ticket. Either that or it's Donald vs Hillary and I have no idea which way that one will go, it's a big risk scenario.All that's on one level, Trump's campaign has been, quite literally, a revelation. But on the most important level this is craziness squared, it's nuts, the most powerful country in the world is on course to put a sociopath in charge! And I was worried about Sarah Palin being Veep under McCain, seriously, this is the Doomsday Clock at a whole different level. I too fear for the world, seriously.
allow me to introduce you to some alternative points of view on the donald:
Donald Trump and the politics of resentment (the archdruid report)
On the next one start with what he himself says is the most important one, then you can go from there if you so choose:
The Trump master persuader index and reading list (Scott Adams, creator of the Dilbert cartoons)
IKN back with a PS: I had no idea Scott Adams had been so this active on the subject, there's a whole series there waiting for you.
A sad fact: The serious side of the Canadian mining world is saying the same thing about this scam pump but they're all too chickenshit to say anything in public. It's pathetic how sycophantic kowtow merchants cheer on IKN and send in mails to say "oooh Otto you're absolutely right about LIX" but not one has the guts to stand up and speak truth to power, say what's blatantly obvious about LIX in public, preferring to hide behind your laptop screens and cower in your cubicles. You're all too worried about pissing off Big Frank (metaphorically speaking only, of course) and getting your career put on stall. How you dare accuse Giustra of doubletalk and sleight of hand when if given the same chance you'd do exactly the same is beyond me.