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8/16/17

Until this line goes under 70X...

...you can put all that "bullish metals" talk on hold.




You don't have to be as stupid as Keith Neumeyer and his "going to 9X" malarkey to know that the GSR needs to go under 70x before a sustainable precious metals rally begins.

8/15/17

Atico (ATY.v): The mine is closed by Colombia's Environment Ministry

As of today. They need to tell us about it officially though.

UPDATE: ATY gives us a late-night NR. Doesn't sound quite as bad as it did, though IKN's First Law of Mining News Releases is still in play.

Regulus Resources (REG.v)

Oh lordy, what a hole.

UPDATE: Not just me who thinks so...


8/14/17

There will be no posting...

...on this blog today, for the third and last Monday in a row. For secret reasons.

8/13/17

The IKN Weekly, out now





IKN430 has just been sent to subscribers. We do bee two.

8/12/17

The top three most visited IKN posts this week are...

...in reverse order and during a quiet posting week for the blog:


Third Place: "And in a shock to nobody...". Alset (ION.v), the raging scam stock pumped non-stop to sheep on CEO.ca, finally delivered its waaay overdue assay results and...yup you guessed it, pure dusters. 
Second Place: "The best bit of the Primero Mining (PPP) news release today". My unhealthy obsession is with trainwreck mining companies. Your unhealthy obsession is reading about them.
 
First Place: "A Venn diagram". I'm glad you liked this one. Me too.



FWIW It'll stay quiet on the blog until this Thursday, at which point your humble scribe returns to something akin to his normal life and this humble corner of cyberspace gets back into full swing. Just so you know.

8/11/17

Allan Barry Laboucan on CEO.ca today

Alset (ION.v) is a scam, the dumbasses he hoodwinked on Tommy Humphrey's P&D site have finally started to work it out, the stock is now dead (at last) and the scam frontman Barry is reacting exactly the way you'd imagine. Makes for great teevee.

A whore will do anything for $5k a month. Hey Allan, it's been a long day but all the same, don't overdo the tequila tonight.

The Friday OT: Alabama 3; R.E.H.A.B.

A house favourite band, as cool as is humanly possible and this track just hits such a great groove.




Assessment successful, good bye the blues. Youtube here.

The bottom line to Tahoe Resources (TAHO) (THO.to)

In order to blanket-answer a few mails.

It is indeed one of the worst run companies in the whole of mining (and my stars there's competition), I mean how could anyone take a deposit as good as Escobal and make it fail? But there is also, without doubt, a near-term trade in the offing here. When Guatemala's Constitutional Court pronounces on the case soon some time in the next couple of months (impossible to nail down the exact date) they will overturn the suspension currently in place and rule in favour of TAHO. On that day, this share price...


...will rebound. Probably not to the level of two months ago, it won't change the longer process at the Supreme court and it won't stop the roadblocks in place near the mine, but a win will be a win. Want my SWAG*? U$6.


In other words, picking up TAHO shares at U$5-or-abouts then selling them to dumbasses down the line who fall for the bullshit that will vomit out of Ferrari Kev's mouth in a few weeks time when the CC rules in favour of the company, is a trade. The end.

*stupid wild-assed guess

CPI soft, base metals down, precious metals up

Gold at 1292 early doors on the technical algo adjustments from the US macro input today. Later we'll see whether there are real PM buyers, but with GLD inventories at 12 month lows (in fact, lowest since February 2016) there's plenty of room for new interest from the Wall St. jocks if they decide they're bored of Amazon and Facebook and similar baskets of wonderful.


Today might be fun, but next week looks more interesting.

UPDATE: Gold back down to UNCH. The pop had no legs. 

PS: By the way, the people shouting NORTH KOREA!! GOLD!! 1300 IS JUST THE START!!" are the utter dumbasses of the market. Make a note of their names today, it'll do you a lot of good in the future.

Red Eagle (R.to) closes its placement

This morning Red Eagle (R.to) closed its rights offering placement for gross proceeds of a sneeze under CAD$30m. When the details of the situation and the deal were announced, your humble scribe ballparked that they'd need to raise at least CAD$20m in order to meet the obligations required for their re-tooling and re-opening of the San Ramon mine. That would have been bare minimum, but a more comfortable number would have been CAD$23m. Therefore the CAD$30m gross is a good result and R.to has no excuses on any failure to deliver on its new plan. So yeah, the company is still in a mess but it's in less of a mess than it was a few weeks ago and, as this price chart indicates, its recent trading action reflects that.



R.to has its cash. It now has the real work to do.

8/10/17

Pretivm (PVG) 2q17 results NR

The real news is right at the bottom:


"In addition, we are evaluating other opportunities to bolster our short-term working capital."


But don't worry, the working cap deficit is short-term only. Innit guv.