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8/12/17

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

...in reverse order and during a quiet posting week for the blog:


Third Place: "And in a shock to nobody...". Alset (ION.v), the raging scam stock pumped non-stop to sheep on CEO.ca, finally delivered its waaay overdue assay results and...yup you guessed it, pure dusters. 
Second Place: "The best bit of the Primero Mining (PPP) news release today". My unhealthy obsession is with trainwreck mining companies. Your unhealthy obsession is reading about them.
 
First Place: "A Venn diagram". I'm glad you liked this one. Me too.



FWIW It'll stay quiet on the blog until this Thursday, at which point your humble scribe returns to something akin to his normal life and this humble corner of cyberspace gets back into full swing. Just so you know.

8/11/17

Allan Barry Laboucan on CEO.ca today

Alset (ION.v) is a scam, the dumbasses he hoodwinked on Tommy Humphrey's P&D site have finally started to work it out, the stock is now dead (at last) and the scam frontman Barry is reacting exactly the way you'd imagine. Makes for great teevee.

A whore will do anything for $5k a month. Hey Allan, it's been a long day but all the same, don't overdo the tequila tonight.

The Friday OT: Alabama 3; R.E.H.A.B.

A house favourite band, as cool as is humanly possible and this track just hits such a great groove.




Assessment successful, good bye the blues. Youtube here.

The bottom line to Tahoe Resources (TAHO) (THO.to)

In order to blanket-answer a few mails.

It is indeed one of the worst run companies in the whole of mining (and my stars there's competition), I mean how could anyone take a deposit as good as Escobal and make it fail? But there is also, without doubt, a near-term trade in the offing here. When Guatemala's Constitutional Court pronounces on the case soon some time in the next couple of months (impossible to nail down the exact date) they will overturn the suspension currently in place and rule in favour of TAHO. On that day, this share price...


...will rebound. Probably not to the level of two months ago, it won't change the longer process at the Supreme court and it won't stop the roadblocks in place near the mine, but a win will be a win. Want my SWAG*? U$6.


In other words, picking up TAHO shares at U$5-or-abouts then selling them to dumbasses down the line who fall for the bullshit that will vomit out of Ferrari Kev's mouth in a few weeks time when the CC rules in favour of the company, is a trade. The end.

*stupid wild-assed guess

CPI soft, base metals down, precious metals up

Gold at 1292 early doors on the technical algo adjustments from the US macro input today. Later we'll see whether there are real PM buyers, but with GLD inventories at 12 month lows (in fact, lowest since February 2016) there's plenty of room for new interest from the Wall St. jocks if they decide they're bored of Amazon and Facebook and similar baskets of wonderful.


Today might be fun, but next week looks more interesting.

UPDATE: Gold back down to UNCH. The pop had no legs. 

PS: By the way, the people shouting NORTH KOREA!! GOLD!! 1300 IS JUST THE START!!" are the utter dumbasses of the market. Make a note of their names today, it'll do you a lot of good in the future.

Red Eagle (R.to) closes its placement

This morning Red Eagle (R.to) closed its rights offering placement for gross proceeds of a sneeze under CAD$30m. When the details of the situation and the deal were announced, your humble scribe ballparked that they'd need to raise at least CAD$20m in order to meet the obligations required for their re-tooling and re-opening of the San Ramon mine. That would have been bare minimum, but a more comfortable number would have been CAD$23m. Therefore the CAD$30m gross is a good result and R.to has no excuses on any failure to deliver on its new plan. So yeah, the company is still in a mess but it's in less of a mess than it was a few weeks ago and, as this price chart indicates, its recent trading action reflects that.



R.to has its cash. It now has the real work to do.

8/10/17

Pretivm (PVG) 2q17 results NR

The real news is right at the bottom:


"In addition, we are evaluating other opportunities to bolster our short-term working capital."


But don't worry, the working cap deficit is short-term only. Innit guv.

The best bit of the Primero Mining (PPP) news release today

This NR, this bit:

"The proposed transaction for the divestiture of Black Fox is consistent with our previously disclosed strategic review process to maximize value for shareholders," said Joseph Conway, President and Chief Executive Officer."

Maximize value.....max...i...mize...val...ue...IKN's advice is to consider that one slowly, mull it over, nibble at its edges. I mean, where the blinking flip and sexual intercourse swearword do you start with that blathering corporate nonsense? With the U$8 share price of Primero in 2014? Nah that's way too easy, we need to consider this chart as fairer game...


...because that runs from February 23rd 2017, the date on which Conway came back and took over the reins again. And it compares Primero to the Gold and Silver Index (XAU) and it shows The Conway Carcrash off 70% in less than six months. Or maybe this...



...the ten day chart.

Mining executives; the only people more stupid are the people who back them with their money. That's you, dumbass.

A Venn diagram

Further to a conversation this morning:



A visual described as "Simple and Accurate" by one of the most experienced people in the sector, too.

UPDATE: Regular mail sparring partner 'CM' chips in:
Sorry for expressing my anal mind but your diagram indicates that there are as many nice people as there are capable mining executives. I am not sure which of the two circles needs to be smaller but believing in the good of people, it should be the mining execs.
Answer: Dear CM, objects in the rear view mirror may appear closer than they are.

Gold is doing nicely, and...

...silver is, too. And copper. And zinc. Even lead. But gold is the thing.


McEwen Mining (MUX) buys Black Fox from Primero (PPP)

Sandstorm will be happy.

8/9/17

B2Gold 2q17 financials

Posted on SEDAR tonight. Here's a chart:


Off that, net earnings came in at U$19.264m. In balance news working cap U$46.135m with cash over $88m, you can see why The Clive extended the credit lines but BTO is still good to go on the final part of Fekola. Considering this will be a transformed company this time next year and considering the soft production numbers from Nicaragua, I'll take these numbers happily. Much more on Sunday, subbers.

Pan American Silver (PAAS) is different from other silver mining companies

Because PAAS makes a decent net profit.

Tonight's 2q17 number, $0.23 eps. Solid.

Argentina's PASO midterm primaries on Sunday

Here's the latest voter intention snapshot from this more extensive report. Cristina (Unidad Ciudadana party) is pulling ahead of the Macri candidate (Cambiemos) in Buenos Aires province, Massa (1Pais) left in the dust:



The big vote isn't until October, but Macri's government moves into dead duck territory as from this weekend. The de facto referendum on his first two years is going badly for the Prez.

And in a shock to nobody...

...except the morons at CEO.ca of course, Alset (ION.v) fails to find lithium at its lithium project and now becomes a ferts company by throwing a new bag of sequins in the eyes of the dumb. Scam is as scam does.

8/8/17

Still no posts

For secret reasons. Normal service will be resumed shortly.

Another Monday with no content on the blog

For secret reasons.

8/6/17

The IKN Weekly, out now




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