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11/9/13

Estimates are now at least ten thousand dead from Philippines typhoon

Reuters report offered with no further comment necessary.
(Reuters) - At least 10,000 people died in the central Philippine province of Leyte after Typhoon Haiyan, one of the strongest storms ever to make landfall, lashed the province, swallowing coastal towns, a senior police official said on Sunday. 
About 70 to 80 percent of the area in the path of Haiyan in Leyte province was destroyed, said Chief Superintendent Elmer Soria. 
"We had a meeting last night with the governor and the other officials. The governor said based on their estimate, 10,000 died," Soria told Reuters.
UPDATE: Here's the BBC reporting "...at least 10,000 dead on the eastern island alone." I think it better to stop here rather than add more updates. You'll get this one from all the news channels you care to imagine, no need for a pesky blog to cover it too.

11/8/13

The Friday OT: Mercedes Sosa & Joan Baez; Gracias a la Vida

Sosa's voice was...no, is...made for this song.



The above version, live in concert, turns into your actual uplifting duet and is a real crowdwinner but man, every time I hear Mercedes Sosa start it the lump hits the throat, those first few bars and her perfect voice. 

For what it's worth, this studio version is the definitive version of Parra's classic.  

Depressed?

A most interesting post at The Guardian's datablog about the rates of depression (clinical variety, YLD) around the world. Here's a map:


Other factors are important, such as sex and age range. Read all about it here

Impressed by Biiwii's subscriber service once again

Subbers to Gary's Notes From The Rabbit Hole have had their author watching their backs today. Gary and I often work on different timescales but as I've been watching things more closely than usual and with a near-term trader's mindset (for a change), it's impressive how he manages to watch your back with his timely, chart-based observations. I get no kick back from reco-ing his service to you (I give him my subscribed work, he gives me his, quid pro quo and that's as far as things go), I just know he's really good at what he does and his reading of market trends either makes or saves me money at times like these. Find out more here.

Gold Resource Corp (GORO) reports its 3q13

Jesus, what a mess. Three initial datapoints to set the scene:

  • Net loss for the quarter at $1.83m
  • Working cap now down to $36.2m (and the only reason that's held together is an $8.2m line item for income tax receivable).
  • Cash treasury is down $12.8m since the last quarter! Now at $17.63m and that sucking sound you hear? Yeah that's the combo of liquidity and a financial plughole called "stupidly high dividend".

Subscribers, expect the charts on Sunday. Meanwhile, go have a look for yourselfHow anyone could have ever reco'd this dog to their readers is beyond my ken. OK, one chart here because seriously, this is spooky.

UPDATE: Ok, I've spotted something strange in these revenues numbers, people. More on Sunday on that score, though. 

Chart of the day is...

...copper, dailies:

We do so in order to tip our collective hat and acknowledge the week's most interesting fundies news for metals, as reported here by Reuters. Here are the first 330 characters of the note (we offer more than Twitter ever could), click through for the rest:
(Reuters) - The London Metal Exchange, aiming to appease critics of its global storage network, on Thursday slashed queues for metal, beefed up its powers to act against market abuse and will review its agreement with warehouse owners. 
The world's largest and oldest metals marketplace is under intense regulatory and legal pressure over its storage system, with complaints about queues of more than a year and large surcharges to withdraw material from its warehouses.

11/7/13

Trevali (TV.to): Addicted to dilutions (and cash salaries for directors)

The last time we checked in on Trevali (TV.to) it was August we giggled at the constant dilution and predicted it would hose its shareholders once again in the near future. And yup, here we are, another 48.2m shares to throw on the pile (which now looks something like this):


One thing's for sure, Glencore won't be queuing up for any more of this papermill joke of a company, but the joke's on the shareholders rather than the perma-sophist management. As for its now producing mine (after all this time, what with the "going into production in 1q12 crock in times of yore), you think it's making money with zinc stuck in this price range? Seriously? Gawd, "leveraged to gold" is a bad enough phrase to read about a lossmaking/breakeven junior, but "leveraged to zinc"? Ugh.

And for those of you who'd like to cogitate further on the Cardero Group business model, here's the price chart 2011 to date...

...and here's the company market cap tracker (snapshot taken every end quarter):


It must warm the cockles of your heart to think that you paid for that market cap increase, right? But don't fret over management, as despite all those missed deadlines and constant sucking of the placement crackpipe (no drunken stupors) they're not going to be too worried about the lack of share price performance, methinks. This from the latest MIC, filed on SEDAR:



Nice work if you can (etc etc)

Tough market out there?

Yup, tough market.


Here's a Tinka Resources (TK.v) NR from September 23rd:
Vancouver, Canada - Tinka Resources Limited (the "Company"), (TSXV: TK) (Frankfurt: TLD) (OTCPK: TKRFF), announces a private placement financing of up to 4,000,000 units at a price of $0.50 per unit (the "Unit") for gross proceeds of up to $2,000,000. Each Unit consists of one common share and one-half of one share purchase warrant. Each whole warrant will be exercisable at a price of $0.75 per common share for a period of twelve months from the date of closing of the private placement. 
The net proceeds of the private placement are expected to be used to advance exploration work on the Company's Colquipucro and Ayawilca projects and for general working capital purposes. Finders' fees consisting of cash and warrants may be payable on a portion of the private placement financing. continues here

Here's one from October 8th:
Vancouver, Canada - Tinka Resources Limited (the "Company"), (TSXV: TK) (Frankfurt: TLD) (OTCPK: TKRFF), announces that further to the Company's news release of September 23, 2013, the Company has closed the first tranche (the "First Tranche") of its non-brokered private placement financing. Under the First Tranche, the Company issued 1,579,480 units for gross proceeds of $789,740. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant is exercisable to acquire one additional common share of the Company at a price of $0.75 per common share until October 8, 2014. Closing of a second tranche is anticipated to take place shortly. continues here

And here's one from today, November 7th:
Vancouver, Canada - Tinka Resources Limited (the "Company"), (TSXV: TK) (Frankfurt: TLD) (OTCPK: TKRFF), reports that Richardson GMP Limited ("Richardson GMP") is acting as agent for the Company on a best efforts private placement basis for the sale of up to 2,000,000 units of the Company at a price of $0.50 per unit for gross proceeds of $1,000,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable to acquire one additional common share of the Company at a price of $0.75 per common share for a period of one year from the date of closing of the private placement financing. Richardson GMP will be paid a commission from the gross proceeds raised by them consisting of cash and agent warrants. continues here

In other words, the second tranche got too difficult to fill by its normal newsletter pumpo tactics alone (TK.v has beenaggressively pumped by several outlets for a couple of years, but their flocks may have been shorn once too often) in so TK.v is going to pay a real brokerage to try and fill its financing. And with the company running through about $1.2m per quarter on average, and a drill program just started on top, the $2.4m in cash held by TK.v as at the last report of June 30th is probably beginning to look a little thin.

A Flash update...

...has just been sent to subscribers, Thursday an hour and bits before the close. Covering a few shorts that were taken as very-near-term trading positions.

Sub 3 and a new low for Pretium (PVG) (PVG.to)

Chart:



Now if you'll excuse me, they're having a pre-Xmas toy sale at one of the few decent stores in town and i'm going to try an lessen the December expense load a little by spending money on officially branded pieces of plastic in November instead. Having pre-teens makes it easy to understand the Mattel business model.

Need an example of how goldbugs mis-read the way in which world finance flows?

Today's kitco live chart:


Nuff said.

PS: Wait, there is one more thing I want to say. You may like reality to be different, but when it comes to things like making money from greater fools simple rules need to be applied. Therefore repeat the following as if it were a veritable mantra until it sinks in. You might not like the idea and have philosophical objections but that's your problem, not mine:

The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
The USA is the biggest game in town
etc

Your B2Gold (BTO.to) (BTG) weather forecast

A powerful super typhoon is gathering strength over the warm waters of the north west Pacific Ocean and is expected to hit the central Philippines early on Friday local time.

The Philippines has been hit by a number of storms this year, but this one is likely to be the strongest. Upon making landfall, Super Typhoon Haiyan is expected to be the equivalent of a category five hurricane.

Latest forecasts suggest that it will have steady winds of 165mph and gusts of 200mph when it slams into the coastline.

continues here

And now, a jolly map of the Philippines:


dyodd, dude

UPDATE 9:30pm: Holy crap! This thing is now one of the four worst recorded storms of all time!

Chart of the day is...

...Uranium Participation Corp (U.to), three year, by way of decent proxy to the metal.


Featured today in order to celebrate U308 dipping under U$35/lb last month and trading at $34.50 today. Because the pumpy people seem to have gone quiet on U yet again...wonder why that is?

11/6/13

Shockingly, Great Big Pussy Silver (GPR.to) (GPL) lost money in 3q13

When BS junior miner NRs start with things like "Great Panther Silver Reports Lower Costs and Improved Operating Margins for the Third Quarter 2013" you just know that the underlying numbers are going to be buttered dogshyte on a stick, and there's no exception with this one. And if you start wondering how a company can reconcile these three datapoints:

Total cash cost per silver ounce: $9.89
Average realized silver price per ounce: $21.85
Net loss: $1.523m

Yup, that's "total" cash cost, not "well just what happens in this bit of the company cash costs" or "unicorn cash costs", that's total man, fucking total. So sorry dudettes and dudes, you cannot take 369,672 ounces of silver, then multiply it by the difference between realized price and cash cost, subtract a bit for G&A and tax and then relax, because the two-faced assholes who run junior mining companies do not work like that.

Do you, Robert?


Doctors say Venezuela's health care in collapse

Yesterday Peru healthcare, today we go healthcare vigilante on Venezuela because Frank Bajak of Associated Press (one of the best reporters in LatAm, by the way) has filed a great report on the state of Venezuela's hospitals system. You can (and darned well should) read the whole thing by clicking this link. Here's how it kicks off:
MARACAY, Venezuela (AP) -- Evelina Gonzalez was supposed to undergo cancer surgery in July following chemotherapy but wound up shuttling from hospital to hospital in search of an available operating table. On the crest of her left breast, a mocha-colored tumor doubled in size and now bulges through her white spandex tank top.
Gonzalez is on a list of 31 breast cancer patients waiting to have tumors removed at one of Venezuela's biggest medical facilities, Maracay's Central Hospital. But like legions of the sick across the country, she's been neglected by a health care system doctors say is collapsing after years of deterioration.
Doctors at the hospital sent home 300 cancer patients last month when supply shortages and overtaxed equipment made it impossible for them to perform non-emergency surgeries.

Congrats to David Shaw of First Majestic (FR.to) (AG)

Nicely timed with those sales sir, what with FR.to now down over a Loonie since you decided to dump all but 30k of your shares.


data from here.

That Mexico law spook you? Or is it the 3q13 numbers? Or the way silver's been trading? Or a combo thereof, perhaps? Anyway, I make that little lot 150,000 shares sold for gross proceeds of one million eight hundred and sixty-six thousand, two hundred and thirty dollars ($1,866,230) and that's pretty cool, because if you'd waited and dumped all that lot at yesterday's close, it would only have made you $1.695m.

Anyway, don't forget to fill in that tax return, yeah Dave?






Iwnattos parses Bloomie's Schiff

That semi-cryptic four word title is all about how Bloomberg earlier this week published a feature on Peter Schiff and that Iwnattos over at Market Narrative has had a close look at the article and added his own thoughts and observations to the mix.

And that means you're in for a wonderfully fun time, guffaws and yoks guaranteed, if you click this link right here. Today's best read and here's an excerpt to get you in the mood, with Bloomie in the italics and Iwnattos parsing in between:
In November 2011, Schiff visited Occupy Wall Street protesters in Manhattan’s Zuccotti Park to “represent the 1 percent [and] see if I can have a dialog with the other 99 percent.” The debate, recorded by the libertarian journal Reason, lasted almost two hours. 
As an aside, what's it like to have sex with a Libertarian?
Terrible. It takes far too long, you lose interest after the first five minutes, he gets angry if you don't go along with absolutely everything he says, he never lets you finish, and it all leaves you profoundly unsatisfied. 
In the dedication to the 2009 revision of his book “‘Crash Proof: How to Profit From the Coming Economic Collapse,’’ Schiff credited his father ‘‘whose influence and guidance concerning basic economic principles enabled me to see clearly what others could not.’’ 
Gee. You could have profited tremendously in 2009 if you'd simply gone long the S&P 500. Did he suggest that?
 Irwin Schiff has long advised people that they didn’t have to pay income tax, and is serving a 13-year sentence in the Federal Correctional Institution in Fort Worth, Texas, for tax evasion. 
Ah. I can see where the son gets it from.

Polling for El Salvador's presidential election: It's tight

Believe it or not (these things seem to come around so quickly these days...perhaps that's more about my own ageing process than anything else) El Salvador is now less than four months away from its presidential election, set for February 2nd 2014. Opinion polls and voter intention surveys are starting to arrive with regularity and expert on all things El Salvador, Tim over at Tim's El Salvador Blog, is collating them all.


Salvador Sáchez Cerén (FLMN): 29.4%
Norman Quijano (ARENA): 27.6%
Antonio Saca (UNIDAD): 12.0%

In his post yesterday, Tim correctly notes that there are still 31% in the undecided column, so this one is still very much up for grabs. And by way of a quick reminder, FLMN is the current government (Pres Funes cannot run again), ARENA is the main right-wing opposition and UNIDAD is a coalition trying to butt in on El Salvador's dominant two party system.

Chart of the day is...

...the gold/oil ratio for 2013:



It's getting better in 4q, which is a good thing for miners' costs of production. Trend's yer friend, they say.

11/5/13

Fortuna Silver (FSM) (FVI.to) 3q13 numbers

FVI has posted its numbers on SEDAR and, dear subscribers, even if I do say so myself they compare closely with the SWAGs* from IKN224, dated August 18th. For example, here's how we saw Revs ($30m), COGS ($23m) and MOI ($7m)...

...and here's the reality...

...which is revenues of $30.203m, COGS of $22.063m and MOI of $8.14m. So a million out on the mine costs, but strangely G&A came in almost exactly $1m higher than our forecast so one cancelled out the other. I also wrote in IKN224 (and let's quote), "Personally, I think FVI will be lucky to make $22/oz average [price for its silver sales] for 3q13 and will post a small loss as a result." In the end, FVI sold its silver at an average of $21.30/oz and its final net result was a $264,000 loss. I think that counts as close.

Anyway, on considering the numbers posted (and again a message to subscribers) I'm very happy about maintaining my current position in FVI, the one taken as from last week. We'll talk about this one more on Sunday.

UPDATE: The FVI NR is out, read it here

*stupid wild ass guesses

B2Gold (BTO.to) (BTG): News from WildDogFuck

I doubt it'll move the stock much, it's just that I'm still on last week's jag and having puerile fun with silly made-up name things. Anyway, here's the Wolfshag news

Colossus Minerals (CSI.to) reports tomorrow...

...Wednesday November 6th, so let's see what the market is anticipating from the company:



Oh, that optimistic?

Rob Ford admits to smoking crack (video)

Not normal IKN fare, but ...holy wow, gotta see this one, people. He admits to smoking crack and the excuse is that it was probably during a drunken stupor about a year ago. 


The real fun starts at 1:30 of this 3 minute youtube. Also right here

Why reading the regulatory filings is important, Metanor (MTO.v) edition

Please compare the non-stop stupidities and paid-for pumping that Metanor (MTO.v) rams down the throat of the mouthbreather end of the investment community (lots of examples here of the corporate soft-soap, even more here of the paid-for pumperooneys) with the things they are required to print when it comes to regulatories, such as the year end filings that they've just stuck on SEDAR. Example, this from the MD&A

GOING CONCERN 
These financial statements were prepared on a going concern basis, using the historical cost, except for the financial assets accounted for at fair value through profit or loss. 
 
For the year ended June 30, 2013, the Company generated a loss of $17,288,422 and has a deficit of $60,177,215 as at that date. In addition to its current working capital requirements, the Company must obtain additional financing to meet its commitments and obligations in respect to its exploration and evaluation programs, its funds reserved for exploration following the issuance of flow-through shares and its long-term debt contractual commitments. As at June 30, 2013, the Company has a negative working capital of $5,226,539, including $2,746,815 in cash. The Company believes that the current liquidity position is not sufficient to fund next year’s cash commitments and other expenses to be incurred until June 30, 2014. 
 
The Company's ability to continue as a going concern depends on its ability to realize its assets and to obtain additional financing. Even if the Company has been successful in the past in doing so, there is no assurance that it will manage to obtain additional financing in the future and no guarantees that the financing sources or initiatives will be accessible to the Company or that they will be available under such conditions acceptable for the Company. The application of the International Financial Reporting Standards (“IFRS”) on a going concern basis may be inappropriate, since there is a significant doubt as to the appropriateness of the going concern assumption. 
 
These financial statements do not reflect the adjustments to the carrying values of assets and liabilities, the reported amounts of revenues and expenses and the classification of statement of financial position items if the going concern assumption was deemed inappropriate, and these adjustments could be material. Management did not take these adjustments into account as it believes in the validity of the  going concern assumption. 

Cute, huh? 267m shares out, a market cap of nearly $43m, $200k and $300k salaries for all the directors on board and as a company worth precisely fuck all.

Moral: Read The Reg Fs, dumbass

Checking in on the quality of hospitals in Peru

Here's a heartwarmer. This semi-private EsSalud (if you work and pay insurance you get the privilege of using the facilities) hospital in Arequipa Peru has converted one of its storage rooms into a ward for children with leukemia. It originally put six beds in the small space, but that's now 12 and as well as the children in the ward complaining about the excess temperatures, due to the total lack of privacy they also recently had the wonderful opportunity of watching one of their compatriots, an eight year old girl, die in front of their eyes.

Hey, tell me again about GDP growth and how it's so wonderful for the people of a country, will you?


Junior mining things I've been reading this fine Tuesday morning

And it looks like it's brewing into a hot and sunny day, too. Anyway, to business:

All you need to know about Batero's (BAT.v) PEA is that the NR was published at midnight and that Felix Grau has wasted a lot of his family's money on this little flight of fancy. Today's best market prediction: This stock will drop today.

BMO's Andrew Kaip reminded your humble scribe about analytic credibility today, because when it comes to Aurcana (AUN.v) the dude has zero zip nada. In his note on AUN yesterday (that bounced from the laughably bad AUN.v NR of yesterday) Kaip just decided that his $4 price target might have been a tad rish and dropped it...to $1.75. Yknow, like you do. Oh and this line was so cool Andrew: "...the shut-down is likely to rekindle investor concerns regarding the company’s checkered operational track record". Because those concerns had completely gone away until you wrote those words, hadn't they?

Next up, Highvista Gold (HVV.v) delivered one of those "It's just not jolly well fair! Stop selling our stock now will you?" NRs to market a few minutes ago. It's a 3c thing, what else you need to know?

Endeavour Silver (EDR.to) (EXK) reported its 3q13 and it looks in line at 12c EPS. Notable that there are warnings about the Mexico royalty law in the NR, though.

Some dude named Scott Barlow pumped Rio Alto (RIO.to) (RIOM) in the Grope and Fail yesterday.

HudBay (HBM) needs more cash to finish Constancia so it sold more stream to Silver Wheaton (SLW). Fair enough.


Chart of the day is...

....bullion holdings in the SPDR Gold Shares ETF (GLD), 2013 to date, in tonnes:


And here's a closer look at the same data:


You can compare that to the approx 2,700 tonnes of gold produced in 2012. Or if you like your gold in old money, GLD held 43.43 million troy ounces of gold and now it holds 27.85m. That's a big drop.

11/4/13

Don't worry, mining company supporters. The murders of LatAm anti-mining activists never have anything to do with the companies they're opposing. It's just coincidence

There's never any connection at all. Perish the thought.

On Saturday November 2nd (i.e. two days ago) César García, the president of the Community Action Group that opposes the presence of AngloGold Ashanti at its La Colosa gold project in Colombia, was shot in the head and killed while walking home by an unknown assassin. Of course, it goes without saying that there is not and will never be any connection whatsoever between his opposition to a multi-million dollar mining project and his death. It's just a coincidence, you see.

In September 2013, eleven people from a town close to the El Tambor mine project owned by Kappes Cassiday and Associates in Guatemala and reknowned for its staunch opposition to the mine project were killed in a bar shooting under strange and still unexplained circumstances. In June 2012 when owned in JV by KCA and Radius Gold, an opposition leader to the very same mine was shot and seriously wounded. Of course, it goes without saying that there is not and will never be any connection whatsoever between the opposition to a multi-million dollar mining project and the deaths. It's just a coincidence, you see.

In October 2012, Ismael Solorio Urrutia and his wife Manuela Martha Solis Contreras, key members of the El Barzón group that opposed the presence of MAG Silver at its Cinco de Mayo project in Chihuahua state, Mexico, were murdered by unknown assailants. Of course, it goes without saying that there is not and will never be any connection whatsoever between their opposition to a multi-million dollar mining project and their deaths. It's just a coincidence, you see.

In January 2012 Bernardo Mendez Vázquez, one of the main opposition figures to the Fortuna Silver San José mine in Oaxaca state, Mexico, was murdered by unknown assailantsOf course, it goes without saying that there is not and will never be any connection whatsoever between his opposition to a multi-million dollar mining project and his death. It's just a coincidence, you see.

In September 2011 Father José Restrepo, a Catholic priest and main opposition figure to the Gran Colombia Gold Marmato project in Colombia, was murdered by unknown assailants. Of course, it goes without saying that there is not and will never be any connection whatsoever between his opposition to a multi-million dollar mining project and his death. It's just a coincidence, you see.

In June 2011 Juan Francisco Ayala Durán, member of the community groups opposing Pacific Rim's presence in El Salvador, was murdered by unknown assailants. His death came two years after the violent deaths of three other memebers of the opposition to Pacific Rim in El Salvador. Of course, it goes without saying that there is not and will never be any connection whatsoever between their opposition to a multi-million dollar mining project and their deaths. It's just a coincidence, you see.

In November 2009 Mariano Abarca, opposition leader to the Blackfire Exploration project in the state of Chiapas, Mexico, was murdered while protesting against the project's presenceHis family directly implicated the mining company security guards in the murder and are currently going through the necessary legal action for justice in the Canadian courts. However, it goes without saying that there is not and will never be any connection whatsoever between his opposition to a multi-million dollar mining project and his death. It's just a coincidence, you see.

Why IKN likes Visual Capitalist

This humble corner of cyberspace has mentioned the team over at Visual Capitalist before and as they have a big Q&A thingy today at Gold Report, it's a good opportunity to point you over their way again. The interview today goes into plenty of detail about the method behind their Tickerscores system and then names some of the highest rated companies, so go have a look.

But IKN likes this Visual Capitalist thing for a different reason. From what I've seen, it's a good filtering system, by no means perfect, but it's good. I like the way it quantifies the different aspects and components of junior companies and then gives up a rank of what their quant says are the good and bad of the sector.

Now for sure you're allowed to disagree with the results, but hot damn sir you have to know why you're disagreeing, so what VisCap really offers is an excellent kick-off point for DD. It cuts the crap out of a lot of the junior world and that's the thing I really like, because that's just the type of service that will, hopefully, put a lot of junior newsletters and assorted sector parasites out of business (this site and service very much included). So applause to Visual Capitalist and make sure you go read more at that link above. And stop paying idiots and scammers for advice when you can pay smart people.

The junior mining producer business strategy

1) Mine rock
2) Process rock
3) Sell resulting metal
4) Report a loss at the end of the quarter
5) Pay top management salaries and bonuses
6) Repeat next quarter

And it must be a successful model, because it's copied in so many places by so many companies.

Comet job

Dear Reader,

While sojourning in the Tuscany hills and enjoying a superb brunch which included some of the finest proscuitto I've ever tasted, the conversation turned to The Yellow Metal. While listening in on some of the sharpest minds the market has to offer (our circle of friends is indeed exclusive) I was once again surprised to note just how badly understood The Yellow Metal is and the disdain it creates in the mind of the classic trader. I fear that when the Bang! moment comes (and as I've repeated that one countless times we all know that is undoubtedly true) these people are going to feel rather more respectful of The Yellow Metal and less prone to their immature and snippy remarks about my own perfect logic regarding the market.

Your up-his-own-asshole correspondent,

John

PRD Energy (PRD.v): A friendly warning

For those of you who bought into this Katusa/Maudlin pump job, you're advised to make like a shepherd and get the flock outta there now, rather than wait for the results of the drilling. That's what's called fair warning.
 


Chart of the day is...

...ABX, 12 months:


Because the junglydrums are that the $3Bn bought deal being run by ABX right now has come up about $1Bn short. Which means there are a whole bunch of brokerage analysts who are going to be "gently requested" to produce bullish sounding reports on the company. 

11/3/13

The IKN Weekly, out now



ka-boom

IKN235 has just been sent to subscribers. A busy issue that covers lots of different happenings and events that are going on as well as several notes about stuff and then a whole thing about things, too. As well as talk about matters arising and resulting consequences. 

WW1

I'm aware that with the 100th anniversary soon upon us, we're going to see a lot of coverage of World War One in the months and years to come. All the same, this article about a grandson's investigation into his grandfather's diaries and memoirs of the war is an outstanding piece and well worth your time, if only to help make our own 21st century problems fade and melt into utter insignificance. Here's an extract from the diary:
"A most pathetic thing happened that afternoon. A young gunner subaltern was on his way up to observe a machine-gun position. Just as he got outside my door a shrapnel shell burst full in front of him. The poor fellow was brought in to me absolutely riddled. He lay in my arms until he died, shrieking in his agony and said he hoped I would excuse him for making such a noise as he really could not help it. Pitiful as nothing could be done for him except an injection of morphia. I always will remember that incident, particularly as he was such a fine- looking boy, certainly not more than 19."