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Rosenberg didn't survive the war, killed in battle in April 1918. He was 28 years old at the time.
This is what they wrote:
TORONTO, ONTARIO--(Marketwired - Aug 8, 2014) - Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") advises that it has concluded a further extended forbearance and amendment agreement (the "Agreement") with Macquarie Bank Limited ("Macquarie") in respect of the project finance facility (the "Facility") entered into between Macquarie and the Corporation's wholly-owned subsidiary, Mineração Riacho dos Machados Ltda. ("MRDM"). The Agreement extends the previously announced forbearance period which expired on July 31, 2014 to August 29, 2014. As of today, Macquarie has advanced an aggregate of approximately US$169.0 million to MRDM under the Facility. There is no assurance that Macquarie will agree to any further extensions of the forbearance.
The Corporation also advises that it has now received notice from Macquarie of its election to require payment by MRDM and the Corporation of the completion guarantee refund amount and the production shortfall payment under the gold stream transactions with Macquarie. As previously disclosed, the gold stream transactions provide that, if during the period from July 1, 2013 to June 30, 2014, MRDM has not produced a minimum of 80,000 ounces of refined gold (of which 10,000 ounces would be deliverable to Macquarie), then Macquarie shall have the right to require MRDM and the Corporation, jointly and severally, to refund to Macquarie an amount equal to that percentage of the upfront payments which is equal to the percentage of underproduction of refined gold over such 12-month period compared with that which was projected for such 12-month period as set out in the life of mine plan agreed at the time of closing of these transactions. During said 12-month period, MRDM produced a total of 8,168 ounces of refined gold, compared to the 100,000 ounces of refined gold that was projected to be produced under the life of mine plan that was agreed to at the time of closing of the gold stream transactions. Given the forgoing, the underproduction of refined gold during the 12-month period ending June 30, 2014 is equal to 91.8% and, therefore, a refund amount of US$27,549,600 is owed to Macquarie under the gold stream transactions.Pursuant to the terms of the gold stream arrangements, MRDM and the Corporation have elected to defer payment of the refund amount until the later of (i) the date upon which the violations and defaults under the Facility have been remedied and (ii) the date upon which the refund amount may be paid without constituting a default under the Facility. The refund amount bears interest at the rate of US prime plus 4%. In respect of MRDM, Macquarie has agreed to forebear its rights to charge or accrue interest on the refund amount or exercise any such rights with respect to interest until August 29, 2014. There is no assurance that Macquarie will agree to any extensions of the forbearance.About Carpathian
And this is what it means (especially paragraph two):
Live at the Royal Albert Hall.
For Guido and Estela, the centre of the best news this year.
PS: And for Buenos Aires, a city with a heart of gold.
YPF Second-Quarter Profit Climbs on Higher Sales
By Pablo Gonzalez Aug 7, 2014
YPF SA, (YPF) Argentina’s largest oil company, posted second-quarter sales that beat analysts’ estimates as production increased.
Crude output gained 5.6 percent in the quarter to 240,900 barrels of oil equivalent a day from a year ago while natural gas production rose 32 percent, Buenos Aires-based YPF said in a regulatory filing yesterday. Sales climbed 61 percent to 35.3 billion pesos ($4.3 billion), beating the 31.5-billion peso average estimate of three analysts compiled by Bloomberg.
...was sent to subscribers just before 8am this Friday morning, pre-opening bell. Two non-trades.
Your humble scribe receives a mail on technical anlaysis of Rio Alto Mining (RIOM) (RIO.to).
Well yeah, not the toughest chart read is it?
UPDATE: Case in point, from the Scotia Daily Mining Scoop mailer:
"Ovais Habib (Precious Metals Analyst – Scotiabank) saying that Primero should react well today from the expansion news and overall strong Q2/14 results. "Hmmm, maybe Scotia's Ovais is confused about the 5% drop in Primero shares this morning.
Hey, totally unrelated of course, I wonder if Scotia's ever done any investment banking business with Primero?
...the gold/silver ratio:
And up we go again. As gold wheels around $1.3k and remains reasonably steady, silver fails to impress.
But it's nothing to do with supply and how silver's a byproduct of base metals production these days. It's the cartel and the illuminati and it's going to be legal tender in Mexico soon. Or Idaho.
- Revenues U$11.637m
- Total costs (ex-write down): U$20.613m
- The rest of the math, all yours kind reader.
"I am genuinely so pleased that I get to write this post; I think there can hardly have been a happier one since I started blogging."
Nobody but me is prepared to say why it failed. I suspect it failed because there was too much water in the dam, the corner gave way, an upstream slide occurred, and the disaster ensued. They are saying nobody could have anticipated this. Rubbish. It was entirely predictable given the facts. It is just nobody had the courage to speak.
UPDATE post-open: Oh, interesting. That bridge too far has arrived, perchance?
Y'know, half the problem of this blogging lark is getting the timing right.
UPDATE 2: Why we struggle:
And they wonder why your humble scribe doesn't form part of the junior mining speaker's circuit...
UPDATE: Here's a video taken by the RCMP. Holy crap.
And here's one from a copter overflight. Holy crap II.
- The regional average drops from the 2.7% forecast made earlier this year to 2.2%.
- Panama still heads the list
- Bolivia's still kicking butt (which is why you hear nothing about the country from the Evo-Haters
- Of the biggest four regional economies, only Colombia's doing ok. Mexico's improving a little from a poor showing in 2013, but Brazil and Argentina are way down the list.
- Venezuela sucks. Well yeah, we knew that.
Lots more from the executive summary here. Go to CEPAL for the full whack reports, including very details individual reports on each country.
I get that question or variations thereof on a fairly regular basis in mails etc.
The answer: I do zero bullshit. Here's how IKN273 started yesterday:
Last time it was the Cuban Twitter, this time we have the US, via its USAID vehicle, trying to recruit political activists from inside Cuba's youth. Story here (and it's wildly good), excerpt here:
USAID hired Creative Associates International, a Washington-based company, as part of a civil society program against Cuba's communist government. The same company was central to the creation of a "Cuban Twitter" — a messaging network revealed in April by The Associated Press, designed to reach hundreds of thousands of Cubans.
According to internal documents obtained by the AP and interviews in six countries, USAID's young operatives posed as tourists, visited college campuses and used a ruse that could undermine USAID's credibility in critical health work around the world: An HIV-prevention workshop one called the "perfect excuse" to recruit political activists, according to a report by Murillo's group.
IKN273 has just been sent to subscribers. With 27 pages, 12k words, pretty charts and tables, and jovial banter, b'gosh.