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The Canadian geologist Gernot Wober has been a hostage of the ELN since January 18th 2013, now 99 days and counting. According to Wober's terrorist captors , Braeval Mining (BVL.to) can secure his release by giving up its concessions in Colombia. So far the company responsible for sending Wober into the danger zone has refused to do so. Meanwhile, good to know that Braeval Mining (BVL.to) is watching:
"What is the historical lesson? Investments in Latin America that aim at a quick profit, while neglecting to study local political conditions carefully then, as now, seem a perilous business."
What, you think it's a joke? Watch this:
It happened in the town of Tigre, North of Buenos Aires in Argentina. Today's slice of LatAmBizarro.
UPDATE Friday AM: Several people have written in to say that the above link is dead. That's because it is (the newspaper in question's "Regionals" section seems to be totally offline). So here's a short report on the same thing and here's a longer report on the initiative.
If one publishes a newsletter on mining stocks, after a while one tends to notice:
1) At or around market bottoms, aside from general market comment exchanges, you only receive subscriber mails about specific companies that have a bad day at the market. No mention is made about companies covered that are going up.
2) At or around market tops, aside from general market comment exchanges, you only receive subscriber mails about specific companies that have a good day at the market. No mention is made about companies covered that are going down.This, ladies and gentlemen, is at-or-around a market bottom. Inbox evidence abounds.
Vanguardia Newspaper Photographer in Saltillo is Murdered
April 25 2013: 12:28am
body was found at 2am in the streets of the Miraville neighbourhood, South of Saltillo.
SALTILLO: Daniel Alejandro Martínez Bazaldúa, photographer at the newspaper Vanguardia de Coahuila, was found dead and mutilated in the early hours of Wednesday morning along with the body of another young man identified as Julián Alejandro Zamora Gracia, 23.
Vanguardia reports that the 22 year old Martínez had joined the newspaper as photographer in the Sociales area just one month ago. continues here
Anyway, first we note that according to this report, there are 15 kidnapped SMT.v workers, not just four. Here's a translation of one of the paragraphs:
"Benjamín Reyes Palomares, 27 años; David Fuentes González, 37 años; Mauro Antonio Orduño Muela, 51 años y Abraham Mendoza Vázquez, are some of the 15 workers of the mining company Dia Bras who have disappeared and whose cases have been filed with the Wes and Central Zone authorities."What? Did you say FIFTEEN MISSING WORKERS OF SIERRA METALS (the new name for Dia Bras, which may explain why the company was so keen on a name change)? And this public listed company in the Canadian TSXV exchange has not said a single thing about this extremely serious problem to the market and its shareholders? It beggars belief, quite frankly.
Secondly, of the reports read by your humble scribe on the kidnapped and disappeared mining employees of SMT.v this report dated April 10th gives the best detail on just how dangerous things have become there and the level of fear in which everyone lives. Here's a translation of the first part, click through for the rest:
Chihuahua, Chih, (APRO). On the afternoon of Saturday 16th February, an armed gang raided the mining camp of Dia Bras Exploration of Mexico, located in the municipality of Urique, in the lower reaches of the Tarahumara sierra.
They arrived in silence. With faces hidden behind ski-masks and uniforms similar to those of the Federal Police, camouflage blue, they got in via the camp kitchen and suddenly the gunshots started.
Awoken by the sounds of the gunshots, the workers who at that time were resting in the camp portable cabins that they themselves had built tried to leave the cabins to see what was happening outside.
But they didn't even have time to open the door, as a loud voice ordered "Hit the floor!".
The armed men asked the workers where their guns were. Nobody said anything.
Then one of the gang asked who the boss was.
Abraham Mendoza Vázquez, the group's contractor, broke the silence and said, "I'm responsible for all these people."
In the middle of the tension, one of the gang asked for the key to one of the trucks parked outside, that of Abraham. Scared by the situation, a miner didn't remember that he had the keys in his trouser pocket.
On checking the pockets of all the workers, they found Abraham's key. They then beat the miner up.
"We could only hear him saying that he'd done nothing, and shouts, and punches. The rest of the group was still lying on the floor."
One of the survivors remembered that the gang started to ask each other what they should do with them.
"What?" "We kill them all?" "Did you bring the ropes?"
One voice commanded, "Let's burn them."
But the leader of the group overruled. "Wait! We're going to pardon them, but by tomorrow morning we don't want anything or anybody here."
What if a major story in Canadian mining in Mexico broke, but both mining community and Canadian media decided that they didn't give a shit? People, it's long long past the time when SMT.v should have told the world about it's problems in Chihuahua, Mexico.
...the gold/silver ratio, last three years:
We go back that long on this chart as your humble scribe would like to point out to those kindly assembled that even though we've seen a decent spike in the GSR these last few weeks, in the simplest of terms it's clear there's room to go higher. Because it's been higher.
Slight sidebar: We should also recall that period between September 2010 and April 2011, as it was the last time people actually believed what Eric Sprott was saying about metals. Oh, happy days....
...is now the big rumour suddenly doing the rounds in Peru. The sources are of the serious type, too.
We shall see.
(updated) If you want a great example of everything that's wrong with junior gold mining management teams...
"Despite the recent drop in gold price, the value of the long life Livengood asset will be judged by factors in addition to today's gold price, including the existing infrastructure, favorable geo-political setting and highly qualified development team."Well guys, when it comes to judgement I think the jury has already come to its decision. Unanimous, too:
UPDATE: Mail of the day comes from A.N. Other (a guy that definitely prefers anonymity under the circumstances who writes:
If you ran ITH's Don Ewigleben's surname thru a German to English translator, you'd see that it means "Live For Ever"
I think not.
I lol'd. A lot.
Kinda...errrr.....hmmmm.....what can I.... say about.....perhaps....errrr...well.......ok...perhaps....Twitter isn't the best place to get your fast breaking information after all, Mr Ritholtz?
Could Sierra Metals (SMT.v) please tell us more about the four company employees kidnapped, with whereabouts still unknown, by Mexican narcoterrotists recently?
...has just been sent to subscribers. Tuesday pre-bell.
Here's how IKN207, published yesterday Sunday, kicked off (with just two small redactions):
As of this morning, the Dolar Blue stood at 8.63.
...bites Ivanovic. Great camera angle here.
Report here, for those of you versed in the tongue of Cervantes.
UPDATE: Here's another video of the meteorite, taken by someone attending a concert. The event is well captured at minute 2:56