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8/29/16

Gene Wilder

Oh, my childhood.


Name of dog: "Lucky"

Footage from the Rally of Bolivia, this weekend:



I like a happy ending.

Wesdome (WDO.to)

Well blow me down and sumbish and all et ceteras, look at that thing go:




Hope you're having a good Monday, too :-)

8/28/16

Where have all the silverbugs gone?

They were so noisy back in July, haven't heard a peep out of them recently. Why might that be?



Anyone have any idea?

Why Exploration Insights

Exploration Insights, the mining newsletter published by Brent Cook and Joe Mazumdar, is the best publication of its type in the business. A prime example of its quality came today with the EI write-up and commentary on the goings on at Orezone (ORE.v) last week.

What shines in the EI analysis is the skillset range. To get this ORE.v story right you need to know about geology and mining technicals for sure, but you also need a deep knowledge and understanding of capital markets, corporate politics and the ability to glean off-record information that only a team with long-standing contacts in the right places in the industry can boast. And last but not least, the writer needs the ability to put it all into a narrative that reads logically and reaches the brain of the reader easily.

If you get the chance to read the Exploration Insights analysis of Orezone, SRK, RPA and all matters arising then do so, it's a genuine tour de force.

The IKN Weekly, out now



IKN381 has just been sent to subscribers. The main event in this week's edition is a close look at what Kiena might mean to Wesdome and was written while listening to a lot of different music, but the best was the Spotify of Mstislav Rostropovich playing the six JS Bach cello suites. That whole thing got at least three repeats.

8/27/16

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

...in reverse order:

Third Place: "More on the SRK Toronto office". And what's more, a neat twist was applied by SRK itself on Friday evening.


Second Place: "Orezone (ORE.v) more zone". That resource dumpage.

First Place: "Wesdome (WDO.to) and gold porn". Because I can snark and moan all day, but there's nothing to beat a bit of gold porn.

8/26/16

Orezone (ORE.v) and SRK Toronto: Wowsers

I don't think I've ever seen something like this before. These SRK people must be soiling underwear on the potential consequences. And surprise surprise, post-close Friday too:

TORONTO, Aug. 26, 2016 /CNW/ - SRK Consulting (Canada) Inc. is releasing the following in response to Orezone Gold Corporation's ("Orezone") news release of August 22, 2016.
BACKGROUND
SRK Consulting (Canada) Inc.'s Ontario office ("SRK") was involved with the Bomboré gold project from 2008 through to early 2013. SRK initially audited two mineral resource models generated by Orezone and subsequently generated two additional mineral resource models based on progressively larger exploration data sets. The first three mineral resource models were each supported by published technical reports in November 2008, November 2010 and October 2012, respectively. The April 2013 mineral resource model prepared by SRK is the last reported mineral resource model, and it is informed by exploration data to November 2012.  
The April 2013 model was used in a preliminary economic assessment for the Bomboré gold project completed in March 2014 and a feasibility study completed in April 2015.
COMMENT
The August 22, 2016 news release stated that a new mineral resource model update is currently being completed and will be publically released in September 2016. SRK understands that considerable additional exploration data (including 57,258m of exploration drilling) has been generated by Orezone subsequent to November 2012. 
The new mineral resource model is not yet complete and SRK has not yet been able to review any aspect of the model. In addition to the application of a different dataset, it is anticipated that the new mineral resource model will be based on updated geological wireframes, updated variography, alternative estimation methodologies and reporting / classification assumptions. For example, to differentiate between gold mineralization and waste the 2013 model applied a geology-based domaining strategy, compared to grade shells that are reported to have been used in the new model.  It is also expected that the application of revised metal prices, and the exclusion of certain satellite deposits will contribute to a different outcome to that of the April 2013 model.
SRK applied a rigorous QA/QC procedure for the 2013 mineral resource model and looks forward to the opportunity to review and provide comment on any differences that cannot be explained by new data, alternative estimation methodologies and new assumptions.
ABOUT SRK CONSULTING

NR here.

The Friday OT: BT; Tripping The Light Fantastic

We are not taxing you this week with deep lyrics (repeat "trip hey yeah" seven times, you've nailed this song) complex riffs or overarching melodies. This week's edition of The Friday OT is music specifically designed to stimulate the brain's addictive pleasure centres and it does the job crazily well.



Trip
Hey
Yeah

Dedicated to MV.

Chart of the day is...

...the change in physical bullion at GLD in 2016:



It started at 642.37mt
It's now 956.59mt
It's up by 314.22mt

At today's gold prices the difference is worth around U$13.44Bn.

8/25/16

Wesdome (WDO.to) at Kiena

Hello, hope you're having a pleasant day. At this end of the pipe I've been having all the fun, immersing myself in Wesdome (WDO.to) Kiena mine data and things on the back of yesterday's impressive news release from the company. A total wonkfest datacrunch that's kept me away from doing several other things today, including snarky posts on the blog.

But it's all worth it because these numbery things aren't just for fun, they're for profit too. By the look of the way the stock's reacted to the news today...



...that nice Mister Market guy thinks the news has added about U$33m to the value of WDO. And that's the most interesting bit y'see, because I'm pretty sure Mr. Market is wrong. I think it's worth a lot more than that.

All will be explained in IKN381, out Sunday.

UPDATE post-close: Probably just a coincidence.



Goldcorp (GG) share price unaffected by the Reuters exclusive

Whatever else you might make from the Reuters exclusive about Goldcorp's (GG) selenium leakage problem at its Peñasquito mine in Mexico, one thing's for sure; it hasn't affected the share price at all:


Yes GG dropped hard yesterday but so did all the sector. As you can see there, GG is lockstep with the XAU index the last five days.