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7/20/13

Chile's 2013 presidential election: A father and daughter show

BBC LatAm Affairs correspondent Vladimir Hernandez jogged your humble scribe's memory this afternoon with this little tweet. Here's the situation:

In November we have the Presidential election in Chile. To the left (whatever politically "left" really means in Chile, which is up for debate) is Michelle Bachelet, that's the easy one. More complicated is to the right, as the winner of the primary who was due to go forward and contest the election was Pablo Longueira but he surprisingly stood down last week citing "personal reasons", which almost certainly include a medical depression brought on by the cancer currently suffered by his son. Therefore turmoil ensued in the party ranks but now we have a candidate who's come forward to challenge 'Chelle, namely Evelyn Matthei, the Minister of Work (Employment) in the current Piñera government. With that the scene is set, now here come the strange family coincidences.
  • Evelyn Matthei's father, Fernando Matthei, was a military man and a general in the Chilean Air Force. He supported the Pinochet coup, rose through the political ranks of the dictatorship and after important posts in the Military Junta government (including Heath Minister for two years) was made Commander in Chief of the Air Force, a post he held from 1978 to 1991 during the Pinochet years. Now aged 88, he's alive and well and living in Chile.
  • Michelle Bachelet's father, Alberto Bachelet, was also a military man and a general in the Chilean Air Force. However his fate was slightly different, as he dissented against the Pinochet military coup in 1973. He was arrested, tortured and eventually "died of a heart attack" while imprisoned in 1974.


Also interestingly, the first place he was held after his arrest was the Chilean Air Force Academy and the boss man there at the time was one Fernando Matthei. All in all, should make for an interesting campaign trail, methinks.

UPDATE: Lillie over at Memory in Latin America gives her take on the issue in this post here.


7/19/13

Kip Keen writes on Liberty Metals & Mining

It's half-way between a report and an op-ed but it's interesting and insightful reading all the same. This link goes to Kip Keen's piece on what Mark O'Dea's mining fund Liberty Metals & Mining (name sucks, but it's got moolah) is up to at the moment. Anyone interesting in the funding side of juniors (and that should cover a sizeable chunk of IKN readership) should read the piece. It's not just about Liberty, rather it takes the example and expands it into an overview of the sector. A good note, recommended.

UPDATE: Slight correction to the above, thanks due to the tuned-in James Kwantes who informs your dumbass author:

"Liberty is funding Mark O'Dea, it's not "his fund""

True that. Thanks James

Molybdenum production in Peru

Here's a chart dedicated to anyone who has decided to talk complete bollocks about Moly production in Peru today, and it comes with a message:


The message is, "Stop talking bollocks about moly production in Peru."

UPDATE: Setty reminds your humble scribe of this (the all-time classic 21st century cartoon*)


Guilty, m'lud. In mitigation, society is to blame.

*so far at least

Iwnattos reviews "Freedom Fest"

It had to happen. Iwnattos takes a good hard look at the people interviewed by Kitco's Daniela Cambone at the recent "Freedom Fest" stupidity and adds his own special brand of incisive critique to the offerings. Please note that you should not click through if:

1) Strong language offends.
2) You don't enjoy laughing a lot.
3) You don't like witnessing a bunch of complete idiots getting their just desserts.

For what it's worth my fave section is his bit on chief of wrong, Doug Casey, as he tries to make out he's all happy and wise about being a dumbass on gold but just comes over as what he is, an old man who's taken that step beyond pathetic that all ego-fuelled fools take eventually. Link here, go have fun.

Chart of the day is....

...the U.S. Dollar index (USD) since March:


There are always going to be kinks and fluctuations but the main story here is clear enough; the greenback and the number 83 have had this thing going on recently. Just an observation.

7/18/13

Homicide rates in Central America

Sucker for a good chart that I am, the post over at Central American Politics that shows the development of murder rates in CenAm with its nicely drawn visual aid is recommended (no, not stealing the chart and putting it here, the least you can do is click this link and go look for yourself at source).

Bottom line: Honduras sucks, El Salvador is improving, others are...well, go check.

Cristina Kirchner on Twitter: An English language journalist covering LatAm finally gets it

And his name is Colin Docherty and he wrote this report.  Here's a small section of the report that gives the flavour and was chosen to get you to clickt through and read the rest:

"...these tweets would be an empowering read for the disenfranchised. To dismiss this as cheap trickery is denying the obvious: that it’s impossible to debate rights and power without boiling it down to some degree for the masses. Earning support for major institutional changes requires an astounding amount of trust. And let’s face it, there’s nothing back door about this, nor difficult to read fine print—she’s taking the concept of public trust by the majority and making her case."


(UPDATED) So what's all this about OceanaGold (OGC.to) (OGC.ax) being shut down at Didipio, Philippines?

According to this, the government has shut down the mine due to non-payment of taxes and stuff. Here's how the report starts:
BAGUIO CITY, Philippines – Alleged failure of mining giant OceanaGold Corp. to comply with local government-set requirements on their Nueva Vizcaya operations has prompted local officials to shut down the mining firm.
A closure order was issued July 12, a week after Kasibu town Mayor Chito Bumolo pointed out OceanaGold’s failures to comply with the local government’s requirements and agreements.
OceanaGold reportedly failed to seek and renew its business permit and barangay clearance and failed to pay local taxes. It also reportedly failed to fulfill its promises set in the memorandum of agreement with the local government unit specifically with the village where its mining operation is held. Moreover, it has also allegedly failed to address the human rights violations complaint filed against its security personnel.
Bumolo gave the company until July 10 to address the complaints and meet the terms set with the local villagers, but the mining firm snubbed it, he claimed.
OceanaGold has been in Kasibu since 1988 when the firm was seeking the needed requirements from the local government unit for their application permits to the Department of Environment and Natural Resources- Mines and Geosciences Bureau.
Now that it is operating and hauling tons of high grade gold and copper, it has stopped dealing with the local government of Kasibu, the mayor said. continues here

I have a mail in with OGC people and when they reply with some word, it'll get stuck on here as an update. Until then I have to say there's something kind of odd here and I don't believe everything I read. For the time being I'd consider the above a starting point for your own DD, no more no less.

Disclosure: No current position in OGC, though I was long the stock until a few weeks ago and sold the position at a loss (with no hard feelings).

UPDATE: Suspected as much. Several sources, including two that have been 100% reliable in the past, now tell your scribe that production (or anything else for that matter) has not stopped at OGC Didipio. Not only that, but they're not expecting any stoppages either. 

Alan Whicker meets Alfredo Stroessner

The sad news of Alan Whicker's passing this week is best recognized by celebrating his marvellous work. Here's a classic Whicker program from 1970, all about the time he visited the Paraguay of dictator Alfredo Stroessner.



A remarkable documentary. My thanks to fine twitterpal @omairzahid for the headsup.

Venture feedback

Thanks to those who've written in with feedback on the "Venture Model is Dead" theme floated by VancVent and featured on these pages yesterday. None more so than one mining executive (who shall remain nameless) who wrote to tell your humble scribe all about the support (or lack of) that the TSXV gives its participants.

Included in his rant (that sadly I cannot show to you, but it was a good one) he sent over an example of the regular-ish mailer that the TSXV's "Relationship Manager", one Arne Gulstene, sends to his list. The gripe here is how it's totally out of touch with reality, as while the junior exploreco world is starving for cash and companies are mothballed due to the lack of available funds, Arne and his pals offer seminars on how to set up and run private placements for sector newbies and other utter waste-of-time hints and ideas that the TSXV might think provides support to its members but in fact simply demonstrates how out-of-touch the exchange is with the people who provide their livelihoods.

And as for Arne, jeez that guy looks like a really arrogant git. The second time I get a mail from this list I'd make a point of not opening it if only for that photo. Ripped from the mailer:



But the thing that really gets "mining executive" is that rather than help any company get ahead, all the authorities in Canada seem to care about these days is stopping companies from getting on with their jobs. The argument goes that because there's a whole bunch of geols with bugger all else to do now that the cap mkts have dried to a trickle they're farting around trying to find the most minor of infractions on websites, bullying companies into submission on the issue of promotion, stopping anything from happening just to cover their own overpaid asses. And the funniest thing is how your author's mailer insisted that his view be anonymous because he knows that if he stands up and says this out loud to an audience, the petty brains of Arne and his friends will simply react by making him and his company a special "focus for their efforts" and his life suddenly becomes a triple misery.

UPDATE: More comments related this morning, including this from a respected industry professional. Again, they don't want their names announced due to the Gestapo mentality of regulators:
"So true. Everyone I know is having their websites and ppts picked apart. Yet somehow there's still utter BS making the wire."
Indeed. You have real scams going on, such as Hunter Dickinson making a mockery of the system and lining their own pockets at the direct expense of their own shareholders, but the regulatory idiots only seem to care about whether you write the word "resource" enough times in your corporate presentation

Chart of the day is...

...the gold/silver ratio:



You now need sixty-six ounces of silver in order to buy one ounce of gold, which GORO must be happy about.

That last bit's irony, by the way.

7/17/13

More bad news for Colossus Minerals (CSI.to)

Just when you thought it couldn't get any worse for Colossus Minerals (CSI.to), it gets worse. The newly elected head of COOMIGASP, the local artisanal miners' organization at Serra Pelada, is going to sit down next week with the company and the Brazil Mining Ministry people at a scheduled meeting between all sides and tell them that they're not satisfied with the current deal that gives 75% of Serra Pelada to CSI and 25% to COOMIGASP. The locals are going to demand the project be shared 50/50.

According to this report in the regional newspaper Diário do Pará, the way in which the split went from 51/49 to 75/25 in just 48 hours aunder the auspices of the previous COOMIGASP head (now under suspicion for corruption) is "the absurdity of absurdities". So says the new COOMIGASP boss, one Victor Albarado, who also says, "I'm going to sit at the negotiation table and say, to the face of Mining and Enrgy Minister Edison Lobao and the two directors of Colossus (who will be present), that a fair deal is one that gives 50% to either side".

Albarado also says that due to his investigations into previous corruption at COOMIGASP he has received death threats, which is why he's now followed around by two police offers at all times.

PS: For those of you tuning in from the Mexico Mike site, remember that your glorious leader is two-faced scum.


More on the sale of Ricardo to Lowell Copper (JDL.v) by Hunter Dickinson (HDI)

Hey all you Hunter Dickinson (HDI) fanboys and fangirls (and I know you're out there), follow the bouncing ball:

1) In 1998, the HDI company Rockwell Ventures buys the Ricardo property in Chile in exchange for 22.4m of its shares. 
2) In 2005, Rockwell Ventures turns into Rockwell Diamonds. 
3) In 2008, Rockwell Diamonds decides to sell the Ricardo property to...wow, would ya believe it!?, it sells to HDI insiders!!! 
4) And how much did Rockwell sell Ricardo for? The answer is One Dollar. Yup that right, previously your humble scribe had heard $2k on the grapevine, but it seems that was a price overestimated by $1,999.
5) And what sort of write-down did Rockwell take from the sale, you ask? The answer is $203,339. 
6) And then what happens? Yup you know this one already! Those lucky lucky lucky HDI insiders sell the Ricardo property to Lowell Copper (JDL.v) for $250,000. 
Ka-Freakin-Ching, baby. Now that's what I call a board of directors who cares about the wellbeing of its shareholders and doing all they can to uphold their fiduciary duty. Not. Oh yeah, you'll want evidence of this, so here's the relevant passage from the Rockwell Diamonds 2008 year end financials (page 27, to be exact):
So, BCSC, OSC and all you other governing bodies, as you obviously have fuck all else to do with your time why not check out these two-faced rats at HDI (who are famous for bullyboy SLAPP litigating anybody who dares stand up to them, so if IKN suddenly blinks off the air soon, you'll know why).


About that Panoro (PML.v) call of two days ago

Well, how's that "Best stay on the sidelines" OttoCall™ going?



Oh. Darnit. Or as El Chavo del 8 would say, "Fue sin querer queriendo".

What, you want stock tips too?

Sepp Blatter is a twat of the highest order

He takes the biggest cash slush offer going, refuses to pay any tax to the host nation and when it all blows up in his face, it's somebody else's fault. Here's AP:
FIFA President Sepp Blatter says Brazil might have been the wrong choice as host of the 2014 World Cup if the tournament is affected by similar social protests as at last month's Confederations Cup.
Blatter told German press agency DPA that "if this happens again we have to question whether we made the wrong decision awarding the hosting rights." continues here

The competition for world's biggest piece of shit is tough, but he definitely makes the final table.

A musical interlude

Step away from the Bernankewankfest, take a deep breath, get some heavy funk in your ears and feel better about life. How good is Flea on the bass guitar? Let me tell you, he's very good indeed.



'Coffee Shop' is the best track from 'One Hot Minute' and will prove it all. Kickin' bassist, utterly kickin'

VancVent: "Venture Exchange model dead"

Under that title line PS Dave over at Vancouver Venture picks up on the Lowell Copper (JDL.v) IPO this week and runs with the ball in his own specialist direction, considering wider implications of the deal to the Tee Ess Ex Vee. Here's the post, definitely food for thought here.

Rio Alto (RIO.to) (RIOM) monthly production breakdown tells its story

What you do is go to the Peru Mining Ministry website and hit the right buttons to get all the monthly declared production of all mines in Peru including of course our example here, Rio Alto (RIO.to) (RIOM) at La Arena. You then compare the last two published months on that site (April and May) to the 2q13 production figure announced by RIO last week (here) and the difference gives you the monthly production for June (which we'll leave as officially "estimated", but as both sets of figures are official in nature it's going to be very close). Here's a chart:


The result: We have a mining company that's accelerating its production rapidly. Tell me, is rapidly accelerating gold production good or bad?

Chart of the day is...

...one of your humble scribe's preferred offerings from that superduper Richard Schodde presentation we featured the other day:


Price of discovering copper going up, you say? Two and a half cents, you say? And all these beaten-to-death juniors with copper projects trading at half a cent per pound in situ, too. Interesting...

7/16/13

The Lowell Copper (JDL.v) Ricardo property in Chile (from IKN219)

This first appeared as part of the overview of the new and talked-about IPO, Lowell Copper (JDL.v), in IKN219, published Sunday July 14th. After receiving a few mails on the subject in the last 48 hours (from subbers and from blog-only readers) and thinking a bit, the a compromise decision is to reproduce just this part of the article on JDL.v without expanding to the other parts of the company or the discussion/analysis (after all, the subscription base deserves my respect). All the same, what you see below does cover the main bones of the 'Ricardo' property.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx


The Ricardo property in Chile: The section in the news release last week that perked up many eyes and ears was a discreet little sentence in paragraph four: “Prior to the closing of the RTO, Lowell Copper Inc. completed the acquisition of the "Ricardo" property, a copper exploration project in Chile” and was why I bothered to publish a post on the JDL just after the NR hit. By the looks of the hits and feedback my little two-liner received, it’s the one thing that’s got people buzzing about the company so here’s more about the enigmatic Ricardo:

The reason for the interest is closely connected to the nearby Chuquicamata mine (wholly owned by the State’s Codelco company, in operation in its present form since 1910 and one of the biggest copper mines in the world), some 15 to 18km (depending from where you draw your line) from the location of the Ricardo concession. The potted theory goes that what’s been discovered at Chuquicamata is only 70% of the total orebody that was likely created and that perhaps 30% of the body was at some point sheared off by a fault movement to parts unknown. By mapping the fault systems in the area, geologists have theorized for quite a while that the concession known as Ricardo may play host to this theoretical 30% of mineralization “lost” from the main Chuqui body. If so (and there are many other theories abounding, but we’ll stick with the best-case situation and the elephant-sized prize that’s apparently being hunted here) the geological theory states that 30% of the the whole may contain close to 50 billion pounds of copper at a grade of perhaps 1% Cu, with the same type of moly byproduct that Chuqui gives to its production mix. In other words and to cut to the chase, find this “lost” orebody and win the multi-billion dollar jackpot. However, a lesser but still juicy prize might come if another theory holds, which says that the “lost 30%” fractured into smaller slivers and one of them may be at Ricardo, so even if they could find 20% of the “lost” portion we’d still be talking about a world-class copper discovery and a massive payday for the people who find it.

However, Lowell’s interest won’t be the first time around for Ricardo, not by a long chalk. The deposit has a history and has been picked over and explored (and drilled several times) by several well-known mining companies. Here’s a list of the programs and some of its relevant ownership history so far:

  • In 1967, the Anaconda company drilled either close to or on the now Ricardo concession.

  • In 1991, Codelco optioned in and drilled 11 holes in Ricardo (maximum depth 606m). They found nothing and handed back the property to its owners.

  • Then in 1992 and 1993, Codelco went back to the property under the pretenses of drilling via a water rights permit) and drilled four more holes (max depth 404m)

  • Meanwhile at the same time, Freeport McMoRan optioned in and drilled 14 holes in 1993, with total meterage coming to 5,095m. The results of the campaign were of the “geologically interesting” type that indicate, hint and signal that more might be there, but nothing in the way of economic metal content was found. Freeport handed back the property in 1994.

  • Next up was INCO in 1995 and 1996, who drilled 12 holes in a two phase program (max depth 448m), again found interesting geological results and was the next company to hand back to its owners and move on, in 1996.

  • The next move came in 1998 when the concession owners, private individuals, agreed to sell 100% of the property to Rockwell Ventures (now known as Rockwell Diamonds), a Hunter Dickinson company in exchange for 22.4m shares of Rockwell. Since that time until the recent deal this year, Ricardo has stayed in the hands of the HDI group in some form or another, but it has still seen work done.

  • In 2000, HDI optioned the property out to Anglo-American who ran a 16 hole program to depths of up to 250m, found nothing they liked and handed it back within a few months.

  • Then in February 2004 HDI again optioned Ricardo out, this time to Rio Tinto. We don’t know exactly what Rio Tinto did there, but we do know that it was obliged by the terms of the option to drill at least 2,000m in the first year and that once the year was up, it handed Ricardo back to HDI.

At this point the story of Ricardo shifts into a different chapter and things go quiet on the exploration front. Rockwell Ventures changed tack, added a diamond exploration property to its asset book and changed itself into Rockwell Diamonds. The Ricardo asset was moved to the back boiler and was apparently transferred to first one HDI holding company inside the group structure in 2005, then another one in 2008. It’s here that things get a little hazy and anecdotal, but I can at least pass on what I’ve picked up from an unconfirmable (but likely reliable) source. It seems that at some point Ricardo was bought from the final HDI internal holding company by a group of the HDI insiders (can’t say who) for a very small sum of money (the rumour has it at $2,000). Nothing was mentioned or heard of Ricardo again until this year, when the same group sold Ricardo to Lowell Copper for $250,000. I stress that this paragraph is unconfirmed, but I’d be willing to bet that if not 100% accurate, it’s right there in the ballpark.

So good for them, the people who bought Ricardo out of the HDI asset book have made themselves a pretty penny, but it does beg the question as to why HDI people would want to sell this property, held for nigh on 15 years, for $250k when there might just be 5Bn lbs, 10Bn lbs or even 50Bn lbs Cu under the ground, waiting to make somebody very rich indeed. We also need to question just why so many big name companies (and words such as Codelco, INCO, Freeport, Rio Tinto, Anglo etc are not to be sniffed at) have been enthusiastic enough to pick up the option on Ricardo and drill the thing, only to find nothing and hand back.


Madre de Dios gold: Scotiabank (and Peru) catches up with IKN after two years

Back in 2010 and 2011 this humble corner of cyberspace ran a whole series of posts, with charts and graphics and stats and all sorts, that showed how the environmentally disastrous and almost totally uncontrolled gold production in the Madre De Dios Amazon basin region of Peru was propping up its mining production figures. This link to just one of those posts, entitled "The Shame of All Peru", being an example of the series.

Now, years later, the issue is finally and I mean FINALLY getting some attention thanks to a report issued by Scotiabank this week that underscored the same facts. And because it's from a real bank and written by somebody who wears a suit, rather thn some pissant blog, media in Peru are now picking up on the story. 

Better late than never, I suppose. A decent public debate about the sordid way in which the State of Peru cashes in on MDD gold production is way overdue.

The first thing that came to mind on reading the Candente Copper (DNT.to) NR today

Was this:



We're now past funny and onto that moment when you start to squirm with embarrassment, your humble scribe is pained to report. Any word on where the $6m in cash that DNT.to placed into Cobriza when it was spun out in 2011 has gone? Still in treasury, perchance? Anyway, NR here.

Barrick (ABX): Five trading days ago...

...in this post we called bullshit on the bearish screaming from the underinformed hacks reaching for any old freakin' stupid thing to write about ABX and its immediate demise, finishing with, "So, pair trade anyone? Long ABX/Short GLD?". And now:



A 6% arb on the pair in four and a bit days? I'll take that.

Things might be bad at ABX, but they're not as bad as the dumbass chattering brigade make out. dyodd, dude

UPDATE: Make that 9%

Chart of the day is...

...the U.S. Dollar, hourlies, because it's still the whole ballgame.

So we repeat and update last week's CotD on the same subject, to make sure you remember. This morning we're seeing a little more weakness and trading under 83 and as a result of that, gold is sniffing at $1.3k again. What a whole bunch of myopic gold worshippers would do well to think about is that last sentence, because there's a specific order to events in this world, that can be roughly summed up by 1) dollar does something 2) gold reacts. It's never the other way around. 

7/15/13

It's time to own up

After over five years of running this blog, I feel it's time to admit the truth.

I am, in fact, J.K. Rowling.

Phew! That feels better, what a weight off my shoulders! After all this time too. It was an admission that's been welling up in me for quite a while and for the sake of my art, it had to come out sooner or later. So today's the day, as good as any other I suppose. This doesn't have anything to do with wanting more site visitors or income from writing, by the way. It's art.

HOC dumped its 3.375m shares of GORO Friday

Here's the filing.

In retaliation, GORO dumped the last sensible, well-adjusted member of its BoD

Breaking: Peru GDP for May 2013 at +4.96%

That's plenty lower than expected by the local dumbasses in suits. Here's a chart with the new number added to the right:


Trend not a friend. Data here

Panoro (PML.v)

A very good headline hole, but the others reported not so wonderful. I'll keep sitting this one out. NR here

A veritable Colossus (CSI.to) of a snafu

Long-time reader 'JH' writes in with:
Did you see that market opening for CSI ?  The market thinks they are going out of business…


That PR didn’t look that bad to me.
Any thoughts ?

Some thoughts? Sure JH, here come some thoughts but first for reference purposes a link to this morning's NR and the 5 day chart that shows just how nasty that open was today:


Ouch. Big ouch. So yeah, some thoughts and first job is to pick through the NR. Here are a few things:

  • First production is now delayed. The market had kind of accepted that already (in the backrooms and on the jungledrums anyhow) but we get the official word today.
  • We're now looking at 500tpd "late 4q13" and 1000tpd thruput "in 1q14". That translates as first production in 2014 and with luck, if all goes well on the ramping, no hitches please, we'll get to 1ktpd as soon as we can.
  • I liked that bit about how de-watering has been managed until now but...well...errr...we need to manage it just a little bit more. Take a walk over to the field where the bull lives just after it has rained, take a deep breath and smell the freshness of the bucolic ambiance.
  • CSI flagged with a big fluttery flag that it needs to raise more cash. And this is is the one that's really hurt the stock, because delays are a pain and engineering has always had that 'not easy' look about it round Serra Pelada, but this market takes a very sharp sword to any company that even hints at financial weakness these days. If only for this reason, the drop today is fully warranted by these fuckwits. The market knows they need moolah and the new money coming in wants to get as many shares per dollar as possible. The sharks attack.
  • Checking out the completion percentage of the tailings gig (it's low) and thinking about the crappy ground conditions at Serra Pelada, I'd have latent worries about this part of the mine being ready and operational on time, too.

There are other bits and pieces as well (go read the thing and chew it over yourself) though that little list above is more than enough to be going on with for the time being, I'd safely say. But there is one other thing that I want to underscore here and it's the real reason for this post. The world of the junior mining news release is not like our real world where good, bad and indifferent things happen at a constant pace. Far from it in fact and it's the bottom line concept that we've tried to get across in the Mining PRs and the Ottotrans™ series over the years. The thing about junior mining NRs is that nothing bad ever happens in their world. Ever. If the CEO rapes a nun the company's IR department would inform us about the company having fruitful interactions with the local religious community, so when you read something that's not totally positive about a company in a junior mining NR, just like we did today, if they admit something may not have gone in an optimum level, you have to assume that things must be really, really bad.

Bottom line: Investment Relations officers are liars. Don't ever forget that.

Chart of the day is...

...gold, 2000 to 2013, courtesy of kitco:


It seems so obvious in hindsight, doesn't it?

7/14/13

The IKN Weekly, out now



and it was one helluva ride

IKN219 has just been sent to subscribers. We have a new near-term trade offered up, plus a close look at the hotshot IPO of the junior mining month, Lowell Copper (JDL.v). And for the first time in a long time it's been fun to write this one which might well be something to do with the positive week that it was able to report and the real fundies news on offer. Anyway, less on my unimportant neuroses, enjoy the rest of your weekend people.

Everything you ever wanted to know about Lowell Copper (JDL.v) but were too afraid to ask...

...in IKN219, out later today. I've had fun sniffing round this thing and finding out what there is to be found. First time for a long time that a new story has piqued my interest in the junior sphere, in fact. For that reason alone I have reason to thank Mr Lowell.

PS: Yeah you're right, it's an annoying teaser. Bite me.

Further to "Long Term Outlook for the Global Exploration Industry"

On Friday in this post we featured a really excellent PDF presentation "Long Term Outlook for the Global Exploration Industry" by Richard Schodde. 

The news to relay today is that Mickeyman over at his blog The World Complex has picked up the ball, run with it and using Schoode's data as a starting point has put together this very interesting post entitled "Gold production: exploration ratios and the future of discovery". His charts give a different perspective on the data and those of you who benefitted from the Schodde presentaiton (and according to back office stats there were many downloads) would do well to go over and take a look at the post.