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1/25/14

Diego Maradona says: "Believe In God. Invest In Gold".

Kind reader KF sends in a cutting of the Gulf Times newspaper dated January 14th 2014.

click to enlargerate

He also sends his love. All told looks like Diego is enjoying his time over there, fringe benefits and all. Here's the page with the date/time and the top of the same ad, for reference purposes:


1/24/14

This weekend...

...The IKN Weekly will propose three trades to its subscribers, including the world's most obvious mining short. And as from Tuesday, the blog will be back to its normal schedule. That's all.

Carpathian (CPN.to) lays down a marker for 2014 Junior News Release of the Year Award

The truly great NRs from juniors, which set them apart from the mere ridicule-worthy, should have style (i.e. corporate bullshit right to the end) and substance (i.e. plenty of things disclosed that the company would much rather keep away from public eyes). This morning's from Carpathian Gold (CPN.to) is an excellent example of its genre. Personally, I think the highlight is the way that the CEO's resignation is first mentioned in paragraph ten, but there are so many jewels in this one that it's tough to keep up.

I'll be reading this link several times. Thanks guys, you've made my Friday.

UPDATE: Impressively, CPN is only down 22% on the open. This implies there are enough people out there that think this company's still worth nearly $50m in market cap, which should probably be attributed to the true triumph of human imagination over the planet's sometimes harsh reality. It's evolution, baby.

1/22/14

In other news

100% agreed with VancVenture on Timmins Gold (TMM.to) (TGD). In the same vein, I chuckled at Torex (TXG.to) and its A-Team of Canadian rockstars grasping at the first window to pull in their favours with BMO and run a $125m bot deal yesterday.

Iwnattos guesses at the price that Rio Alto (RIO.to) (RIOM) might pull back to now that the hot money jocks have had their fun. Personally I don't have the slightest clue, but his at least sounds logical (in that special charty way).

Biiwii had a darned good rant this morning about the new crop of stupid goldtalk coming from the mainstream. Well worth your time, a reminder of just how little the market movers know and why it pays to listen to them...then fade the dumbasses.

Lastly, the important stuff: Here's a photo taken by your humble scribe last week of cocoa beans drying in a tinytown main square, northern Peru.


It was a hot day.

I thought First Majestic (FR.to) (AG) was underperforming the market, but...

...it's not really.




Sitting in a park and the kids are doing an Arabian Dance workshop, which has given your humble scribe a pleasant and sunny little catch-up time with the market. I had this impression that First Majestic (FR.to) (AG), for so long a leading junior producer, was underperforming somewhat in this sector rebound but as things turn out (I hope that chart is representative enough) it's not doing that badly as it depends more on what you're comparing it to. Tinycap producers such as IMPACT Silver (IPT.v) have bounced hard and Fortuna (FVI.to) (FSM) is flavour of the week all of a sudden (sidebar: now looks overbought). Then come a raft of names and then the GDXJ junior producer ETF. Only then do we have FR.to, but check out the other company that's performed virtually identically, Pan American (PAA.to) (PAAS). And +15% may not be as stellar as FVI, but it's still nothing to be sniffed at after less than a month's action.

There's the rub, methinks: This market has changed its attitude towards FR.to and these days it's being counted amongst the big and established silver producer names, not the growth or smallcap end of the sector. Or put more simply, First Majestic Silver is all grown up.

By the way I didn't include Argonaut Gold (AR.to) on that chart, now negative 3% on 2014 year-to-date. Toldya it sucked.

1/21/14

The only chart you need to understand junior mining newsletter writers

IKN yet again puts in front of its esteemed readership the only chart you need to remember when reading or listening to the opinions of the good for nothing bunch of market parasites and charlatans known to the world as junior mining newsletter writers:


And don't you ever forget it.

1/20/14

Argonaut Gold (AR.to) is the best indication of the sudden bullishness in juniors

That's because even its pisspoor 4q13 and woeful guidance for 2014 only dropped this wildly overpriced gold stock by 4.89% today. Two weeks ago they'd have been lucky to get away with minus 20% on the session. Seriously crappy quarter from AR.to.


Deep Peru

Smalltown provincial Peru, the way it is:


Taken 3 days ago.