...there's only one phrase that comes to mind on seeing the crowd:
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...there's only one phrase that comes to mind on seeing the crowd:
Way too early. R.I. P., sincere condolences to his loved ones from this corner of the world.
It then goes on for a while, but the best line, the crack-me-up-special, comes later:VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 26, 2013) - Huldra Silver Inc. ("Huldra" or the "Company")(TSX VENTURE:HDA) announces that, after careful consideration of all available alternatives, the Board of Directors of Huldra determined that it was in the best interests of all of its stakeholders to seek creditor protection under the Companies' Creditors Arrangement Act (Canada) ("CCAA"), and has obtained such protection pursuant to an Order from the Supreme Court of British Columbia (the "Court"). The Order and related Court documents are filed on SEDAR (www.sedar.com) under the Company's profile. While under CCAA protection, Huldra will continue attempting to restructure its financial affairs and recommence operations at its mine and mill.Recently, Huldra has been hampered by equity market, commodity price and operational challenges which lead to the decision to proceed with CCAA protection. Details of the CCAA proceeding will continues here
"Although CCAA protection enables the Company to continue attempting to restructure its financial affairs and recommence operations at its mine and mill until its CCAA status changes, the implications for the Company's shareholders are less clear."
Errrr...no. That's not true, because in point of fact the implications for equity holders couldn't be any clearer. They're truly, totally, royally and magnificently fucked. Bold type, underlined, overpainted with neon yellow marker pen and with a great big capital F at the start of the word to make sure you see it.
Party on Garth.
Dedicated to my sister in law Mari, who's a fine person.
Little doubt that it's the most significant move in the metals world today:
This chart stays centre-radar today.
UPDATE: Though separately, we must put in a word for this chart, the "Sweet Fancy Moses" formation on the S&P.
PS: Good morning (the view from the roof ten minutes ago):
A Goldcorp (GG) sponsored junior miner kicking the crap out of local villagers in Peru: Plus Ça Change...
(UPDATED) BREAKING: Guatemala Court of Appeals suspends operating licence for Tahoe Resources (THO.to) (TAHO) Escobal Mine
UPDATE: THO call the licence suspension reports "a complete lie" and are apparently preparing a NR to the effect.
UPDATE 2: Here's the section from the NR, just released:
Exploitation Permit Unaffected by Lower Court Ruling
Late yesterday, a court of appeal in Guatemala stated that the Ministry of Energy and Mines (MEM) should have conducted a hearing of a written opposition to the Escobal exploitation license during the permitting period. The court did not rule on the substance or validity of the opposition, merely stating that MEM was obligated to hold an administrative hearing. The court did not invalidate or comment on the Escobal exploitation license in its decision.
According to Tahoe President and CEO, Kevin McArthur, "The legality of the license is not in question and it remains fully effective. It is unfortunate that anti-mining forces in Guatemala are misrepresenting the court's limited ruling. Based on our conversations with MEM and legal review, we believe the opposition is without legal or factual merit."
"Operations at the mine are in full force and not affected in any way." said Mr. McArthur. MEM and the Company are appealing the lower court's ruling to the Constitutional Court, which is expected to issue a decision in the next several months.
UPDATE: Half an hour later...
Oh dear. However...
By the way (I've been asked by mail this morning), the reason I decided against going long LYD, great rocks or not, is that i didn't understand the pol risk. Yup, got that one right.
UPDATE 2: Another hour goes by and, well, not going to upset you with the chart again, but....ouch.
...uranium and its continued woes:
...has just been sent to subscribers on this Tuesday evening. A trade outlined.
He'd be this bad:
The sooner you realize this whole "Larry now fave" whisper campaign was created by the pro-Yellen camp, the better.
*The difference between a Weiner and a Bush? A subject for psychiatric debate, methinks.
NR here, which start like this:
TORONTO, ONTARIO--(Marketwired - July 23, 2013) - Braeval Mining Corporation (TSX:BVL) ("Braeval Mining" or the "Company") announces that it has given cancellation notice to the respective owners of the titles covering the Snow Mine property in Colombia. The Company is cancelling the option agreements due to unfavourable market conditions, and plans to refocus its efforts on its other projects.
International Tower Hill (ITH.to): Hey, you know how annoying those market assholes who whine "Ha ha ha, toldyaso" are?
Toldyaso: This dog isn't even worth getting out of bed for until gold's back to $2k/oz
Toldyaso: Negative IRR at $1,400/oz
Toldyaso: Total bullshit from start to finish from another Cardero smoke'n'mirrors scam.
Toldyaso. Toldyaso. Told. You. So.
UPDATE: Message for TFMetals report readers: You are brain dead assholes.
Words and whispers from various quarters are that Barrick (ABX) is rolling out a big fat equity placement soon. Half a billion bought deal, anyone?
...the gold/copper ratio again:
That's because it's an imporant chart to track at the moment. And it's coming back.
UPDATE 3: Casey's prescient call seems to have moved the market. We now have this Kitco headline "Gold Sharply Higher, Hits 4-wk High, on Royal Baby Birth and Short Covering" coming off the wires.
UPDATE 4: Prince William has just spent five minutes addressing the crowds of well-wishers who have gathered outside the London hospital where "the golden boy" was delivered. In a telling finale, at the end of the handshake session he raised his clenched fist and shouted "Long Live GATA!" before making his way back in.
In junior mining newsletter boiler rooms:
In retail shareholder's home:
In Canadian brokerage's analyst cubicle (on phone):
In Canadian brokerage corner office (also on phone):
In junior mining company HQ (shouted thru wall):
Iquique: Young Man Who Shot At Police With Machine Gun Arrested in Huayquique.
The incident occurred in the early hours without causing any injuries, with the man detained by police and accused of attempted homicide of serving police officers.
This afternoon a 21 year old man identified as Eduardo Varas was arrested for having shot at members of the police force in the Huayquique area with a mini Uzi machine gun in the early hours of this morning.
The incident occurred when a police patrol was alerted by people in the area, where an individual and a group of his friends were firing shots into the air.
On noticing the presence of officials, the young man repelled the uniformed officers by firing at them, after which one police officer used his regulation firearm to control the situation.
After the confrontation, the young man escaped but while making off dropped his wallet containing all of his documents, which allowed him to be quickly identified.
The man was arrested by the police and charged with the crime of attempted homicide against serving police officer, and also has a previous arrest warrant pending against him for drug trafficking. He is to be remanded into custody this Monday.
For the four people who read this blog and care:
Spanish language 10 minute video about the Cañaris region and its population.