UPDATE: That regular reader and commenter Cansarnoso, he's a sharp one I'm telling you:
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"I myself have much to ask forgiveness for, and much of this asking will be done in private, as is appropriate. But there are sins that are committed in public, and in this past year I have publicly committed the sin of wild and wounding language, especially hurtful to our Muslim brothers and sisters. I do not console myself that many other Americans at this moment are committing the same transgressions, against others. I allowed emotion to run way ahead of reason, and feelings to trample arguments. For this I am sorry."
A remarkable campaign ad, the best that I (and the person who gave me the headsup) have ever seen.
My personal fave INXS track
Rock In Peace, Michael.
Hmmm, let's see.......
VAL-D'OR, QUEBEC, Sep 16, 2010 (MARKETWIRE via COMTEX) -- Metanor Resources Inc. ("Metanor") is pleased to announce that the Company has been informed by its consultants that it will receive tomorrow the results of the NI 43-101 resource calculation on its very promising Barry Property. The Company plans to disseminate these results by way of press release Tuesday the 21st of September, 2010.
Metanor Resources Inc. would again like to thank all of its shareholders for their confidence and their patience during this waiting period.
Mr. Andre Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.
133,595,947 outstanding shares.
The TSX Venture Exchange neither their regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.
VAL-D'OR, QUEBEC, Sep 16, 2010 (MARKETWIRE via COMTEX) -- Metanor Resources Inc. ("Metanor") is pleased to release this very important news release that explains we'll be releasing an even more important very important news release once this news release is released. We know we've told you that the results of the NI 43-101 resource calculation were coming on several occasions recently but this time we're serious, ok? We're so freakin' serious that we're releasing this news release to tell you that the news release really is going to be released next week.
Metanor Resources Inc. would like to thank all of its suckers for riding this no-win stock all the way through our ridiculously exaggerated dilutive policies.
...the gold/silver ratio (GSR), three year timespan.
2003: USA writes a report for US consumption about how horrible drugs are and how the little brown people are to blame. Little brown people reject the US view. Nothing is done, situation gets a little worse.
2004: USA writes a report for US consumption about how horrible drugs are and how the little brown people are to blame. Little brown people reject the US view. Nothing is done, situation gets a little worse.
2005: USA writes a report for US consumption about how horrible drugs are and how the little brown people are to blame. Little brown people reject the US view. Nothing is done, situation gets a little worse.
2006: USA writes a report for US consumption about how horrible drugs are and how the little brown people are to blame. Little brown people reject the US view. Nothing is done, situation gets a little worse.
2007: USA writes a report for US consumption about how horrible drugs are and how the little brown people are to blame. Little brown people reject the US view. Nothing is done, situation gets a little worse.
2008: USA writes a report for US consumption about how horrible drugs are and how the little brown people are to blame. Little brown people reject the US view. Nothing is done, situation gets a little worse.
2009: USA writes a report for US consumption about how horrible drugs are and how the little brown people are to blame. Little brown people reject the US view. Nothing is done, situation gets a little worse.
2010: USA writes a report for US consumption about how horrible drugs are and how the little brown people are to blame. Little brown people reject the US view. Nothing is done, situation gets a little worse.
....let's check on how Porter Stansberry and his ridiculous pump of Nautilus Minerals (NUS.to) is doing.
"If you adhere to the view that it's only correct for intelligant people to take money away from stupid people then today's the day to short Nautilus Minerals (NUS.to). It's also the day that Porter Scamsberry unleashed his proletariat on this woefully bad pump job (it's up 10% at the bell...make that 15)."
Step One: Watch as Greg McCoach pumps the latest drill result at Explor Resources (EXS.v) to his flock of mouthbreathers.
Step Two: Wait until all the mouthbreathers are safely on board.
Step Three: Short the pig. The end.
Having racked up accumulated losses of $30 million in the last six years, Douglas Lake Minerals Inc.OTC:BB: DLKM, Stock Forum) does not have much to show for money spent on its exploration properties in Tanzania, East Africa. (
Since January 2004, the company has incurred $19.5 million in mineral property costs and $7.5 million in consulting expenses.But that hasn’t prevented the shares from almost tripling in value in the last few weeks from 10 cents in mid August. On Wednesday, after a bout of profit taking, the stock was trading at 29 cents, down from 34 cents on September 9.At current levels, Douglas Lake has a market cap of $21.3 million based on the 72.3 million shares that were outstanding on August 12.That seems high for a company that is engaged in risky, early stage mineral exploration and has generated no operating revenue since its inception. The company posted a net loss of $2 million or 3 cents a share in the year ended May 31, 2010 -- when it had zero cash --, compared to a loss of $4.7 million or 8 cents in the same period last year.On August 23, Douglas Lake issued six million restricted common shares, (upon the cashless exercise of stock options) at an exercise price of $0.05 per share, according to documents filed with the U.S. Securities and Exchange Commission.The shares were issued outside the United States to four non-U.S. persons who have not been named.Douglas Lake is headed by Surrey, B.C.-based chief executive officer Harp Sangha, who could not be reached for comment on this story.Sangha is a 46-year-old yada yada continues here
...the Peru IGBVL "General" Index, 24 months.
According to this, there might even be something worth watching on the box tomorrow:
BNN Commodities with Andrew Bell, September 16John Black, president, Antares Minerals
Focus: Antares Minerals has a new scoping study out on its Haquira copper-moly-gold project in Peru. BNN talks to John Black, CEO, Antares Minerals about the project's production potential and the prospects for shareholder value.
Bolivia's progressive economic model spurs growth
1) When all boats are rising in the junior market, you don't need to do much more than avoid the scams to be a winning trader.
2) You don't need to waste money on newsletters. Really.
When all boats riseWe’re in a secular bull market for gold, but if you don’t believe me (!) here’s the chart for the gold ETF (GLD) from inception to last Friday.
So while we’re at it, The IKN Weekly would also like to point out other glaringly obvious bull markets for copper, for silver and the decent recoveries in other metals such as Fe, Zn, Pt, Pd, Al, Ni, Mo..... (we can continue, but the point should have been made by now).
Now for sure we can chat about the late’08 deflation drop (and the chances of seeing one this year, perhaps a popular topic in the week to come now that Labor Day is upon us) and the rebound since then. We could note a few of the jitters we’ve seen since late’08 and the ongoing debate about macro recovery, macro inertia or macro double dip, however we’re going to cut straight to the chase and talk about what’s happening right now in the junior mining market. This can be summed up in a simple and oft-used phrase:
All boats are rising.
This is a good thing as far as we, retail investors in the juniors, are concerned. Over the last few weeks (and particularly noted by your author last week) a new underlying dynamic has been moving the market.
- It’s a junior? Got gold? Buy it.
- Produces silver? Makes a profit? Buy it.
- It’s an explorer? Big copper deposit? Buy it.
- This team successful before with other juniors? They run a new company? Buy it.
- Rare earths? No further comments needed, just buy it.
People aren’t asking too many questions. People want in to the market for gold, for copper, for juniors, for precious and base metals exposure. People with fresh money are suddenly finding great value in stocks that longtime followers of juniors saw as great value a year ago and at fractions of today’s prices. People are now willing to pay up for producers to new, more expanded PE ratios. People are looking at gold explorers and paying $50/oz in situ when just a couple of months ago others turned their noses up about paying $25/oz for the same stock. People that run gold companies are buying juniors at significant premiums (see XAU.to and AND.to for very topical examples, plenty more too). Here come some specigic examples:
Case in point 1: Riverside Resources (RRI.v). RRI had some decently good newsflow recently, especially the segments on its close-and-closer ties with Cliffs (CLF), but neither has it made a massive, gamechanging mineral discovery. Here’s the chart:(Chart removed)
At the end of June, RRI.v stood at 58c. At the end of July RRI stood at 63c. It’s now 87c. And let’s state clearly that although I’m not holding RRI right now I’m very pleased for Jean-Mark Staude and all the RRI.v team. These are top quality people going about their business and getting deserved recognition, but why have they had to wait until now to get this much love?
Case in point 2: Oceanagold (OGC.to) (OGC.ax). Featured in a NOBS report just a couple of weeks ago, we liked the look of OGC and called it a “market perform” without adding it to our ‘Stocks to Follow’ list here at the Weekly. The date was August 15th and the OGC price at the time was C$2.79. Here’s the one month chart:(Chart removed)
We’re now C$3.54, which is 26.9% up in the space of three weeks. In that time, OGC has simply been going about its business correctly and mining for gold. What’s changed?
Case in point 3: Fronteer Gold (FRG) (FRG.to) and AuEx Ventures (XAU.to). This year-to-date chart below shows how the market has loved and appreciated FRG during 2010 while giving less appreciation to XAU.to. Then came this week’s buyout and suddenly the two stocks are (give or take a couple of points) equally excellent performers for the year.(Chart removed)
What’s changed? Somebody stepping up and paying in a different manner than the above two examples, but in the long run it’s the same story.
We could offer up dozens of other examples, but stick with the three charts and four companies mentioned above because we’ve followed them on these pages, the management in every case do solid jobs and they’re all good winning trades, too. But also importantly, with the exception of Fronteer they are stocks that are not currently featured as open positions on The IKN Weekly ‘Stock to Follow’ list. This is also a theme that’s picked up in today’s ‘Market Watching’, where we review how some of the companies we’ve featured in recent editions have got on since getting coverage in the Weekly but without making it to the ‘Stocks to Follow’ list.
The basic point about to be made is straightforward but it’s also of fundamental importance to the investor. In times like these you don’t have to do much more than avoid the scammy stocks to make money in this sector. Make sure you do the necessary DD, miss out on the stocks run by people with bad track records and you’ll make money. When all boats rise, the best ones may rise faster (and if the tide goes out they tend to drop less) but the call on the sector is the most important one to get right. The fact that you’re reading these words means you’re in the right ballpark already, so do you really need to pay for something you understand already? “Buy juniors” is the bottom line message of any newsletter writer at times like these. It’s like paying someone to tell you “drink water” or “eat food” or “I advise you not to smoke”.
No guruThe message is simple. YOU DON’T NEED ME TO MAKE MONEY. You really, truly do not. All you need to do when times are good in the junior mining world is:
1) Avoid the scams2) Be long3) Be patient
That’s all, folks. And even point 1) is somewhat debatable if the current bullish sentiment lasts for a protracted period, because once the “good’uns” have launched up and away, people sitting on fat profits will start looking around for stocks that haven’t done so well, with some of that cash getting poured into companies with dubious track records (to put it mildly). The herd is as the herd does, time after time.
There does come a moment when things like newsletter recos become superfluous. Why pay some guy like me $25 a month when you don’t need to do much more than buy a basket of stocks and see your net worth rise nicely? In the same way that you don’t need to read the latest repetition of “buy gold” from your favourite tinfoilhat goldbug writer who manages to wrap up that same message in myriad ways for years on end, you do not, repeat do not need to read The IKN Weekly repeating for the umpteenth time that XXXXXXXX is a Top Pick buy; for one thing it’s going to rise no matter what I say and for another its peers will also offer up solid gains (and by peers I mean good stocks like First Majestic (FR.to), on a most excellent run on solid fundy results recently). You don’t need me to tell you to have more money in XXXXXX than XXXXX even though both figure on the list. You don’t need me to explain how the thinking behind a long-term hold such as XXXXXXX is different to the short-term trade in XXXXXXXX or that they’re listed for different reasons.
Also, while considering whether you really want to continue paying this author $25 a month, please note that the ‘Stocks to Follow’ list is limited in its scope to a maximum of 15 names at any given time. This is a quite deliberate plan but also means that it’s going to miss winners in times like these when all boats rise. While we’re at it, note that the fare offered is largely LatAm only. No Canada, no Africa, no Yukon, no Mongolia, no Kaminak, no Volta Resources, no Inter-Citic, no Tasman.
But on the other hand, The IKN Weekly tries its hardest to treat its audience with the respect it deserves. An example of this is the way we feature interesting stocks and stories in occasional NOBS reports and in the ‘Market Watching’ section without them making it to a formal recommended status. We also run coverage on stocks that we advise against holding and explain why. These aren’t done as simple fillers for the Weekly but are always included for good reason. Your author is acutely aware that his, personal, final “buy/hold/sell” decisions are different to other people’s and for various reasons, but this shouldn’t stop The IKN Weekly from highlighting stocks that are interesting and may suit its readership down to a tee. A recent example of this is Batero Gold (BAT.v) which (as explained at the time) is not for me but may well suit you people, the subscribers. As it happens, BAT.v has risen in a pleasant though modest way in the two weeks since that first reco and if you bought at the time you’re holding a winner. I didn’t buy, but that’s no impediment to you! This author is never going to impose his investment style on his readership but he has no problem in relating good, interesting, meritworthy stories that others can profit from.
On moving fingers: Back to bullish thoughts. The famous line from Omar Kayyam’s Rubaiyat comes to mind at bullish times like these, even though it’s out of context:
“The moving finger writes, and having writ moves on.”
Last week the moving finger writ (or pointed) at XAU.to and at AND.to. The moving finger saw Minera Andes (MAI.to) suddenly catch a whole ton of bids when just 24 hours earlier it was operating at volumes ten times lower. Your author also firmly believes the moving finger will write the name XXXXXXXX clearly for all to see in the not-too-distant future and wake the stock up from its ongoing funk. But that’s just me and you may well have a different opinion, so again we propose that maybe it’s time for you to consider whether, in bullish times like these, it’s really worth paying a newsletter writer to tell you things that are either wrong or obvious.
...the US Dollar index, daily candles:
....so just watch the video.
Bolivia's government set out to erradicate 5,000 hectares of illegal coca plantations in 2010. It has already reached that figure and now hopes to reach an unprecedented target of 8,000Ha.
Its FELCN anti-drugs police force has so far this year seized 21.3 tonnes of cocaine or cocaine paste, 965 tonnes of marijuana.
The same FELCN is cutting at the root of the problem too, by destroying so far this year 19 crystallization plants, 14 cocaine recycling labs, 4,129 factories (when unrefined paste is produced) and destroying 5,761 maceration pits.
IKN shamelessly rah-rahs and hi-fives and all that jazz, because the Weekly's biggest and best reco has just zipped to a new 52 week high this morning.
LIMA (Reuters) - Peru's embattled President Alan Garcia asked Congress on Monday to repeal a decree he issued two weeks ago that gave virtual amnesty to hundreds of people accused of atrocities during a civil war that killed 69,000.
Garcia backtracked only hours after acclaimed Peruvian novelist Mario Vargas Llosa harshly criticized him in a letter in which he resigned as head of a commission appointed to build a museum to honor victims of the 1980-2000 conflict, which was one of the bloodiest ever in Latin America.
Garcia's decree said that defendants in trials for human rights crimes committed before 2003 must be sentenced within 36 months of the start of their trial.
As most of the hundreds of pending cases have been bogged down for years, Vargas Llosa called the measure an "amnesty in disguise." Other critics have said the measure could violate the U.N. agreements on human rights signed by Peru.
Peru's Truth and Reconciliation Commission found that widespread rights abuses occurred during the 1990-2000 presidency of Alberto Fujimori and, to a lesser extent, during Garcia's first term in the 1980s.
Fujimori has been convicted for rights crimes, and activists say they want to put Garcia on trial, too.
"This is truly a disgrace that will revive political divisions in the country, precisely at a time of exceptional (economic) progress and during an election that should be used to reinforce our legal institutions and democracy," Vargas Llosa wrote in his letter CONTINUES HERE
...silver, daily candles.
Colombia Reports has all the details
In a unique show of unity, several Colombian armed groups congratulated Lady GaGa's success at the MTV Video Music Awards and offered to reward her unconditional support for the country's armed conflict.
The letter, signed by leftist rebel leaders and bosses of neo-paramilitary gangs, was delivered to her label Interscope with an estimated 20 grams of cocaine. "Enough for a nice little celebration of the awards and plenty of inspiration," the letter said.
This was part of yesterday's weekly.
...and it just happens to be today it does the 30% swandive on volume.
" On September 10, 2010, when it issued the Cease Trade Order, the BCSC advised the Company that it continued to have significant concerns about the Amended Technical Report and the qualifications, objectivity and independence of the author thereof. "
...the evolution of local currencies versus the US Dollar in the last three months.
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