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1/28/17

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

...in reverse order:

Third Place: "The INV Metals (INV.to) news that they didn't want you to see up there". But if you prefer you can get your political risk news from the company, rather than the people who live there. INV says that everything is awesome. How is Candace's Spanish, by the way?


Second Place: "Cordoba Minerals (CDB.v) gold porn", because posts with pictures like these are always hit a lot. Drooling over shiny things, it's the American Way. 
 
First Place: "On smoke and mirrors and Cordoba". Your 15 minutes of fame, Goldfinger. The CDB NR and the fallout from it was definitely the junior mining story of the week and there's more to say about this price action in IKN402 tomorrow, subbers.

1/27/17

A small thank you note to Hermes, God of Sports

Venus versus Serena, then Rafa versus Roger. All in the wee small hours of both Saturday and Sunday, your humble scribe with a Weekly to write, too. Looks like more coffee than sleep this weekend. Go Roger!

Reader and IKN resident Calvin & Hobbes expert...

...CM has a message for our brand new CEO.ca pal, Goldfinger:



I lol'd. That's a really stupid handle by the way, Goldfinger.

The Friday OT: Cher; If I could turn back time

Reader A gets this one:



Because more videos need shots of United States servicemen whooping and hollering at a barely clad woman clutching a large weapon between her crotch. No symbolism there. The song is total cheese, the band hairstylist took up half the video shoot budget but these are details, they matter not because above all it's a reminder that Cher's voice is so damned fine and good it could take a song this mediocre and make it work.

Youtube here.

1/26/17

Tahoe Resources (TAHO) (THO.to): Ferrari Kev to take the stand

Oh man, this is gong to be fun. Ferrari Kev will have to postpone one of his rounds of golf and show up at a Vancouver courtroom soon. This link goes to the official superspin version of the news, but the place to go to get the lowdown is Stockwatch and this Mike Caswell write-up. Here's the top half of the story, click through for the whole thing:

Tahoe loses appeal over Escobal lawsuit
Thursday January 26 2017 - Street Wire
by Mike Caswell
A group of Guatemalan protesters may pursue a lawsuit in B.C. over their treatment by security forces during a 2013 incident at Tahoe Resources Inc.'s Escobal mine, the Court of Appeal for British Columbia has ruled. The court has determined that B.C. is the more appropriate venue for the case. It is far from clear if the protesters would receive any compensation through the Guatemalan courts, three appeal judges have determined.
The ruling, published on Thursday, Jan. 26, is a substantial setback for Tahoe. A lower court judge previously declined to hear the case, finding that the B.C. courts were not the best place to hear the matter.

The protesters all lived in Guatemala and their alleged injuries occurred there. They were also participating in suitable legal proceedings in that country.
The appeal court, however, has determined that the protesters will have trouble pursuing their case in Guatemala. The court proceedings in that country have been stalled since late 2015. One of the key participants was a Tahoe security manager named Alberto Rotondo, who had been under house arrest in Guatemala while the case awaited trial. On Nov. 29, 2015, he fled Guatemala, travelling to his native Peru.
In Mr. Rotondo's absence, the Guatemalan courts have suspended the trial. They have also held Mr. Rotondo in contempt and ordered his arrest. Guatemala is attempting to extradite Mr. Rotondo from Peru, but so far has not had any success. According to the appeal judgment, he may never be extradited and without Mr. Rotondo, the case in Guatemala will not go ahead. It is also unlikely that the protesters will be able to open a separate proceeding against just Tahoe because of the considerable time that has passed since the events, the appeal ruling states.


International Holocaust Remembrance Day

Tomorrow, January 27th, is International Holocaust Remembrance Day (chosen because on January 27th 1945 the Soviet army liberated Auschwitz/Birkenau). 

Don't forget.

On smoke and mirrors and Cordoba

Once you know how to recognize the patterns on the tape (I claim no special talent, it's not rocket science, just a case of observance and time) you get to appreciate just how impressively manipulated stocks are on the TSX, especially the Wild West show we know as the TSXV. A fine example is how certain deep-pocketed individuals have managed to reel in Cordoba Minerals (CDB.v) this week and stop it from really breaking out after that eye-popping NR on Monday, all because they want a cool special-friend-buddy-scratch-back placement deal from CDB at their idea of a nice price (the type of mealy-minded Scrooge that feels hard done by from a $5m profit on a trade if there was $5.5m up for grabs). And for what it's worth, I don't really give two hoots about the near-term moves in CDB or the price at which the upcoming round of funding is set, I just find it all rather amusing as the near-term is mere frippery in this stock. Who cares about $1.10 or $1.30 when it's going multiples higher in the years ahead?

But the funny thing is how the very same people who blatantly manipulate the TSXV are the same over-loud voices whining and moaning about manipulation in the gold and silver bullion markets. And because these wealth-obsessed idiots command such a fawning flock of admirers, that same "Oh It's Not Fair Gold Is Rigged" whinge is repeated by every two-bit retail dumbass with a five figure portfolio. The flock don't say a word about the way their stocks are swung around by their thought masters, because their thought masters don't want them thinking about such matters. Their thought masters just want their money and as long as they manage to distract the dumbass tiny fish at the bottom of the food chain, they'll get it all right.

UPDATE: An example of somebody who'll never understand:

 
I feel like I need to be writing in crayon sometimes.



Mr. Peña Nieto doesn't go to Washington

It may be late in the game, but at least he's finally showing some cojones. It's not all about money, profit, losses and deals, y'see. You start messing around with national pride and there's a whole new can of worms waiting to be opened up. Trudeau, on the other hand, will be as much of a lapdog as May.

A near-term chart of B2Gold (BTG) (BTO.to) and a thought

Being a holder of this stock it's always one I'm going to follow with a close eye, but I'm sure I'm not the only person who's noticed...



...the way B2Gold (BTG) (BTO.to) refuses to drop this week. Or better said, when it tries to drop it gets immediate buying support. And we're about to get its 4q16 production numbers too. Jungle drums are good, it seems.

And by the way, IKN is in late-start mode today because I stayed up to the wee small hours watching Venus, Serena and then Roger reach their finals. The Roger/Stan match was the best I've seen in ages, but the highlight was seeing Venus's smile at the end of her match, it was soul-inspiring.

An unsolicited testimonial for The IKN Weekly

I've been told I should do this more often, so when reader and IKN Weekly subscriber "VF" wrote in this evening with the mail you see below, it was such a nice one that I asked to share it here. Mr. VF kindly agreed and here we are.


I wanted to pass along some positive feedback regarding IKN weekly.

1. I've had mining resource subscriptions before and never renewed them for three important reasons. 

a.)  The consistency of the release of the publications were spotty.  I never knew what day the publication was going to come out.  It was more like a 4-5 day window, which is a problem for me.  IKN does a really great job of releasing every Sunday which is awesome.  I know that Sunday night I can schedule time for myself to do my investing research.  That allows me to schedule my life and time which is valuable.

b.)  Your publication takes the time to educate me beyond typical catch phrases and platitudes.  The investment advice is much more than "I'm experienced and I understand things you can't so take my advice and do this" type of advice.  That feels like to me I will never be able to make informed decisions myself and always be reliant on some secret black box of intelligence.  I don't like this, I was not able to apply my own discretion to the situation in conjunction with the author.  I feel like your teaching me about what to look for with the information you are sharing from being boots on the ground and experienced.

c.)  The content of your letter, specifically the financial component is an important piece in my estimation that is nearly completely missing in other publications.  I love the black and white fact of finance and the conclusions that can be drawn from this in a sector where much of the geology is a game of risk probability management.

Thanks for your work and keep it coming.

V

x

1/25/17

Anyone know why INV Metals (INV.to) is down 15% today on 2x normal volume?

I mean, the decision of the Cuenca regional government to ban metals mining completely and demand that the national government close down Loma Larga immediately came on Sunday. Nobody read the news in Spanish up there? Is this pissant blog (and its post on the issue yesterday evening) really your only source of DD, apart form believing the "oh everything's awesome!" platitudes from Candace? Are you seriously that stupid, Canada?

A big beautiful wall

Built by executive order.


UPDATE: Two quotes:

"Those who cannot remember the past are condemned to repeat it." George Santayana.
"Those who cannot remember the past are total dumbasses." Otto Rock.

Chart of the day is...

...the US Dollar (USD) British Pound (GBP) forex:



1.26 doesn't look very important. Break 1.28 and there are changes in the air. Trump meets May on Friday and will Make Britain Great Again*, so this could be a forex pair to watch this and next week.


*Baseball cap made in China.

1/24/17

News in from the bottom right hand corner of the blog

It says this:

According to the nice people at Google we just went through 15 million pageviews, which is good. Thanks for your continued eyeballs, esteemed IKN readership.

The INV Metals (INV.to) news that they didn't want you to see up there

And just so you know the context here the "Cantonal Council of Cuenca" mentioned in the article below is the "Concejo Cantonal de Cuenca", i.e. the regional government of the Cuenca region in Ecuador where INV Metals (INV.to) has its Loma Larga project and wider concessions (as well as the Chinese capitals Rio Blanco project).  Hey, I wonder why nobody in Canada has told you about this one yet? Candace? Your dad hasn't given you permission to comment yet, Candace?

The official Concejo Cantonal de Cuenca website report on the vote dated January 23rd 2017 is right here on this link, but to get to the brass tacks let's go with how Ecuador's newspaper of record, 'El Comercio', reported the matter yesterday. Your (human being, not Google) translation of the important excerpts goes like this:

"By twelve votes in favour to four against, the Cantonal Council of Cuenca approved this Sunday January 22nd a declaration with 12 resolutions related to the preservation of water sources and mining activity. The debate, during an extraordinary session, lasted over five hours.

One of the main resolutions was to declare the territory of the Canton Cuenca, its paramos (high altitude rural zones) and ecosystems free of metals mining activity.
...

Another resolution was to demand that the government suspend the mining exploration and operation activities of the Rio Blanco and Loma Larga mining projects."

Chart of the day is...

...zinc, five year chart from those nice people at Kitco:


 
Only because this humble corner of cyberspace hasn't mentioned the chart recently. And of course we were pointing to the bullish outlook for the metal way back before the latest round of rah-rah bandwagon latecomers with fat mouths started shooting their lips off. Early May 2016, to be exact.
Zinc: Demand to outstrip supply in 2016
Yes, shameful but it’s true, your author is going all zinc-pumpy on you after sneering at the “it’s gonna happen anytime now folks!” perma-pumping of the sellside in zinc for years. This “Get On Zinc Before It Flies!!!” is a narrative (with obligatory three exclamation marks) that’s been sold to us for years, but this time it really seems to have some fundamentals to back up the wishful thinking and (continues)

And I wasn't one of those idiot Zn permabulls in a sellside brokerage cubicle saying the same damned thing about zinc every year since the Lehman crisis, either. Just sayin'.


Trump and NAFTA and scams like Eco Oro (EOM.to)

A short thought from IKN401, out last Sunday:


The North American Free Trade Agreement

I can’t help but wonder what the boards of directors of Eco Oro (EOM.to), Trimetals Mining (TMI.to) and any other of these rip-off juniors trying to use NAFTA rules to take countries to court think about President Donald Trump’s stated intention this weekend to start re-negotiating NAFTA. Maybe any of you daft enough to have fed these quasi-scam companies with money for shares are planning to ask your respective board of directors for an opinion, but if you do don’t worry, they’re bound to tell you there’s nothing at all to worry about.



1/23/17

We now know why Gold Resource Corp (GORO) is so quiet on the death of one of its workers

And this report may explain why. According to locals at the scene:
  • The accident happened at 03:40am, the early hours of Friday morning.
  • The worker suffered a fall, but did not die immediately and was helped by his work-mate who contacted the mine head supervisor.
  • The management at the GORO mine refused to enter the mine in order to give first aid.
  • The management also failed to do their obligatory duty by refusing to contact local authorities and report the incident.
  • By 9am, word had got round the workforce of the accident and the family of the victim arrived at the mine. They were refused access and were told nothing.
  • The family eventually forced their way into the mine and demanded answers.
  • At that point the GORO mine management organized a rescue party and entered the mine, only to find the worker had died of asphyxia.

Dear shareholders of GORO, this is the level of people you are sponsoring with your money.

The Fortuna Silver (FSM) (FVI.to) term sheet

Fortuna Silver (FSM) (FVI.to) is going to place 10.325m shares at U$6.30 a pop. There's also a 15% overallotment (1,548,750 shares) to throw in.

FSM closed at U$6.85 today. And will be down tomorrow, no matter what gold does.





My thanks to reader L for the forward.

The Brent Cook CUM Shot

At VRIC, right now:


And yeah, I know Copper Mountain isn't CUM any more....feeling nostalgic here....

Metanor Resources (MTO.v) alternative facts

Today's commentary on Metanor Resources (MTO.v) is brought to you by the office of Kellyanne Conway:
 
  • This is not a joke miner and lifestyle company for a couple of lazy Quebecois businessmen.
  • It has a strong balance sheet and no debt problems at all.
  • Jay Taylor has not been paid enormous amounts of money for years on end to con naive retail tyros into buying chunks of this dog.
  • Ditto Thibault Lapouttre.
  • The share rollback announced today is not utterly shameful for an operating miner.
  • Eric Sprott was not stupid for buying into the bullshit marketing spiel.
  • Ditto Nolan Watson.
  • IKN head office never rolls its eyes at mails with "MTO" in the title line, always reads their contents and always makes a point of replying to the mailer promptly and courteously.


Have a nice alternative day.

Cordoba Minerals (CDB.v) gold porn

No comments necessary:



Cordoba Minerals' (CDB.v) on-site security costs have just gone up significantly

Nice problem to have, though. Your real live actual game-changer NR here, its headline is...

 Cordoba Minerals Intersects 4,440 g/t Gold, 10.25% Copper, 24.7% Zinc and 347 g/t Silver Over 0.9 Meters in New Discovery
...and for what it's worth...


...the residual isn't great shakes.

1/22/17

The IKN Weekly, out now


IKN401 has just been sent to subscribers. The usual hucksterish stuff, trying to bilk you all out of your hard-earned cash.

Dynacor Gold (DNG.to): Still operating illegally at Veta Dorada

Incredibly, DNG doesn't seem to think that the commencement of legal action by the regional government of Peru, on which its Veta Dorada plant is located, in order to repossess the land which was used illegally by the company to build a processing plant, is material news.



A death at Gold Resource Corp (GORO)

Despite the fact that the the worker at Gold Resource Corp (GORO) mine in Oaxaca, Daniel Ruíz Jiménez, was reported missing on Thursday and his dead body was found in the underground mine Friday afternoon, GORO still hasn't done the decent thing and reported the death to the market. GORO seems to be trying the Tahoe Resources (TAHO) tactic of covering up workplace deaths instead of being responsible, honest and transparent about them.

Catching up with the Zimtu whore, Stephan Bogner

A little less than a month ago this humble corner of cyberspace pointed out the nefarious relationship between two entities conspiring to swindle naive greenhorns in the junior market world, namely the unspeakably self-serving Zimtu Capital (ZC.v) and their paid whore of a research analyst, Stephan Bogner of Rockstone Research. This weekend IKN Nerve Centre received this mail from reader RG, who was kind enough to help out the team by pointing to a brand new chapter of this market prostitution:

"King’s Bay closed a property purchase agreement on the 19th, and repeating a pattern you pointed out just last month, David Hodge filed yesterday with Sedar a stock acquisition by Zimtu of King’s Bay Gold in Labrador. With that ZC now holds 17.77% of KBG, and today Rockstone’s Stephan Bogner posts 'Cobalt Crunch Time' promoting the polymetallic prospect, apparently based on grab samples. Bogner also promoted KBG on October 27th, and today’s article largely repeats that earlier one."

Thank you RG, greatly appreciated.