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3/17/17

The Friday OT: Ludwig van Beethoven String Quartet No.15 in A minor, Op.132 Molto Adagio - Andante

On hearing of my bout of food poisoning this week, kind reader "AH" wrote in to offer up this piece of music. I'll leave it to AH to explain in his words:
"This is perhaps my favourite piece of classical music, Ludwig van Beethoven String Quartet No.15 in A minor, Op.132 - 3. Molto Adagio - Andante. Also known as the 'Convalescent's Hymn of Thanksgiving' which he wrote after recovering from an illness that he thought would kill him and was imbued with the joy of the almost second birth that recovery can bring."



And even though I was far from death's door the thought was greatly appreciated AH, thank you, sir. And as it happens it's a wonderful piece, one I hadn't tuned into for quite a few years. That's now remedied, as is my stomach, now it's your turn to (re)discover this gem.


Youtube here.

Chart of the day is...

...five years of the gold/copper ratio:



When we last keyed into this ratio, late November last year, the opinion was that the drop was nearly done. Got that right. Just sayin'.

A Flash update...

...has just been sent to subscribers, an hour and twenty minutes before the opening bell on this Friday morning. A trade.

First Majestic (FR.to) (AG) runs a share buyback...AND THIS TIME WE MEAN IT

Always good for a laugh, Keith Tequila's First Majestic yesterday announced it would be running a share buyback program this year. And yes, this is the same share buyback program that's been running at FR.to since March 2013. At that time FR.to had 116.76m shares outstanding. It's now 164.46m shares out. Funny old world.

Buenos Aires, March 17th 1992

Today is an anniversary, 25 years since the first of two horrific anti-Semitic bombings suffered by Argentina in the 1990's. In the increasingly rarefied atmosphere in The Americas and an unwelcome new uptick in threats towards Jewish communities, the bombing of the Israeli Embassy on March 17th 1992 and the subsequent AMIA bombing in 1994 are events that must not be forgotten.

Let's not make The Americas hate again.

3/16/17

Chart of the day is...

...that ten year TIPS yield chart again:



History rhymes, rather than repeats. From here, at the moment one of the most useful chart links for gold mining investors out there.

In The IKN Weekly this weekend...

...hidden among the usual bumph and nonsense with be two main features. There'll be a good hard look at B2Gold (BTO.to) (BTG) on the back of its year-end numbers out last night (and the ConfCall today) and there's a brand new stock recommendation, a junior in the base metals world.

And on fwiw the mend here today, no worries and thanks for the mails.

3/15/17

Unwell

On days like these, with a dose of food poisoning that won't kill anyone but makes for a miserable 24 or 48 hours, the benefits of enjoying full health come sharply into focus. It's too easy to take good health for granted and forget that it's not a given; in fact it's one of the greatest blessings of all. Thoughts also drift to other people who don't have a road out of corporal misery in sight after a couple of pills, a special drink and a night's sleep.

I resolve to to be more conscientious of the luck I have in enjoying health on nearly all my days on this planet. No more posts today, hopefully back tomorrow.

3/14/17

Minera IRL in Peru's biznews

Following on from Friday's NR out of Minera IRL (MIRL), local press has asked the main players Cofide and the company on the decision to revoke the Cofide credit mandate and the report gives us more information. Here's the photo of the full version, in today's dead wood edition of Peru's top biznews media Gestión, below find a translation of the interesting bits:


"Asked about the revoke decision, Cofide explained to Gestión that the financial entity "has reoriented its strategy to become a development bank, giving priority to the financing of those sectors which generate high economic, social and environmental impact". It said that the focus of Cofide is now centred on closing the infrastructure gap and helping small and medium-sized businesses, in accordance with the current political policies and in coordination with the State Proinversion office and several ministries."

"Sector sources with ties to Minera IRL told Gestión that the company is evaluating proposals with two mining supply companies that may offer financing for the gold mining project. It is hoped that by the end of this month an agreement can be reached."

Tuesday tune, 3.1415926535897932 edition

It's the fourteenth of March:



This from side one of Kate Bush's album Aerial and the Youtube is here.

But side two is her all-time masterpiece.

Trevali (TV.to) dilutes again

So if I have this right, Glencore is exchanging fixed assets for cash by selling two of its zinc mines to a company that is, for all intents and purposes, its unofficial subsidiary while zinc prices spike higher and the market lemmings are all gooey about the metal.

I mean, what does Glencore know about the price of zinc anyway?*

And as the big fish hands off risk to the small one, the people running the small fish does the same by diluting the merry hell out of its long-suffering shareholder base once again. Meanwhile, don't expect any sort of criticism for this outrageous deal from the sell side whores in suits and cubicles, there's commish to be made from selling paper. 

*If you're a mining investor and can't recognize the irony, may the higher deities help you

Ecuador's election and the Javier Cordova/Woodmac presentation at PDAC

When Wood Mackenzie and Ecuador's mining minister Javier Cordova stood up in front of a PDAC audience last week to say there wasn't going to be much of a change in the mining sector from the presidential election, they conveniently forget there's a run-off going on, the race is tight and the non-government candidate, Guillermo Lasso, is saying things on mining like this from last Sunday (translated):

Question: You have said that you won't allow large-scale mining projects. What will happen to the projects with acquired commitments and contracts (signed by the current government)?

Guillermo Lasso: We will review those contracts and will talk with the communities. In practice we want to sent a clear message, that growth and economic development is only achieved with social peace. I do not believe in economic growth by bullying, because it's not sustainable. There will be no mining at altitudes over 2,800 metres above sea level and under that level, only with prior consultancy with communities. We must take care of our water sources.

3/13/17

We love The Angry Geologist, oh yes we do

TAG stoops low and quotes this humble corner of cyberspace while he rips apart the stupid blind-obvious scam, Wallgreen Platinum (WG.to). 

But that's not all, just wait until the conspiracy theorists crap their Calvin Kleins when TAG is interviewed by GMO, coming to a website near you soon.

What is this strange TAG IKN GMO alliance? Are we trying to sink Arizona Mining (AZ.to) with bluster and lies? Or is what you consider a shorters' campaign in fact simply people who dare present the world some facts about a fatally flawed zinc pumpjob? Are you paranoid and wasting your money on industrial espionage, Warke? Only time will tell.


There will be no more posting on this blog today

For secret reasons.

Chart of the day is...

...copper, near-term:



Rebounding from last week's inventory bear attack. Thought it would.

3/12/17

The IKN Weekly, out now



Phillip Hughes, gone but not forgotten. Rest In Peace, sir.


IKN408 has just been sent to subscribers and four hundred and eight reasons to remember that there's more to life than the purchase or sale of a few shares. Or a game of cricket.

Aurvista Gold (AVA.v) and them there pesky rules

On February 28th Aurvista Gold (AVA.v) announced it had 4.416m oz of gold at its Douay project, using a 0.5 g/t cut-off. Here's the chart from that NR:


And tonight (a Sunday, just for the lolz) they've published a new NR on Douay which states that it has 2.813m oz gold at its Douay project, at that very same 0.5 g/t cut-off:


So pray tell, how does a mining company mislay 1.603 million ounces of gold in less than two weeks? Well truth be told it hasn't, AVA was bullshitting you all and not playing by the rules. Shocker for a bunch of junior miners, eh?

Tough life for mining scamsters these days, can't even make shit up any more without people jumping down your throat...