Don't worry, it's probably all part of God's plan.
No further comment.
UPDATE 2: Holy crap, the incitement of the AZ Tea Party was this blatant. From Andrew Sullivan:
UPDATE 3: Looks like the guy arrested for the shooting has a youtube site. And he's a whacko.
Mmmm....talking all sexy about metals, too.
Supatcha Resources (SAEI.OB): Why avoiding the OTC market for junior miners and why reading David Baines are both good ideas
After this week's sad news, it was the only choice.
From the BBC link: "Gerald Rafferty was born in Paisley on 16 April 1947, the son of a Scottish mother and an Irish father, who taught his young son to holler out Irish rebel songs."
I shudder to think of all the fine music that may not have been created had the Irish and their stout oaks not presented an irresistible temptation to our eastern neighbors...a terrible yin and yang, but I can tell we're finally wearing you down...(that's a textual representation of a friendly and impish wink). We are grateful for you teaching us to speak English and have ever endeavored to return the favor by improving it ever since.
Tiocfaidh Ár Lá
1) If you buy today and the stock moves back to 80c, Lobito is right.
2) If you buy today and the stock stays below 80c, it's still a great buying opp for BYV and Lobito is right.
3) If you buy today and the stock drops, you get to buy again at 65c and Lobito is right
UPDATE: Interesting comment left below by "Casey Subber #19392118" (which presumably means something to them, as they're bound to have an index system):
I admit that I'm a fairly long-time Casey subber and the quality of their picks and confidence in their picks have fallen substantially over the past couple years. They stopped recommending any stocks for about a year because their "Spidey senses" felt a big correction was on its way and now that the market has gone up a ton they do this three tranche buying model. Hmm, guys, let's see. So, it is a good buy now for 1/3rd of my money but just in case the stock goes down you're telling me to buy more at that price. Oh, then if there is a "market meltdown" I should buy more at that point. What if I buy 1/3rd now and the price goes up? Oh wait, I know what happens. You post a double recommendation that says Take Profits/Buy First tranche for new subscribers. Again, what a ridiculous recommendation. Sounds like the foundation of a pyramid scheme.
I know Casey Research follows this blog so why don't you focus a bit more on finding good stocks with good fundamentals and a little less on your marketing. The only reason I still subscribe is I am locked in at your old rates and the subscription costs me next to nothing. I would never consider the new price of $1000 per year. Hah! What a joke.
So, Doug, David, Louis, Marin et al -- grow a set, get off the fernce and make a solid call like you used to.
Posted by Casey Subber #19392118 to IKN at 1:45 PM
"....it's not the most benign macro environment to start the New Year with.
"And if Dr Copper isn't signalling that, it's maybe because the thundering investment herd has stamped all over his glasses. Money must find a return and holding cash in most of the developed world is a non-option. A fund manager who is not in the risk asset game will return to investors no more than the loose change in his pocket.
That remains the true driver of this commodities bulldozer. Each commodity has its own narrative and that narrative will determine which fares best (more on which in Part 2 of this column). But the rising tide of quantitative easing is lifting all, strong and weak alike. Just remember that the problem with being in a crowded room is that you don't realise just how crowded it is until you try and get out."
DYODD, dudettes and dudes.
UPDATE: Part three of three now out and available right here.
"...Crews literally blast the gold out of the rock, then trucks that stand two stories carry the stones to a crusher."
This just in from Spain:
The Guardia Civil (Spanish police force) at Barcelona's El Prat airport has detained two pilots of an Argentine private medical transport plane that was carrying a 900kg cache of cocaine, according to information received by the EFE news agency."
"A karaoke marathon and song festival dedicated to Iceland’s nature as part of Björk’s campaign to win back the country’s natural resources will begin in the Nordic House in Reykjavík at 3 pm tomorrow, Threttándinn, which is the official Last Day of Christmas.
"Björk said in the interview that Prime Minister Jóhanna Sigurdardóttir had declared that if 15 percent of voters (approximately 35,000 people) sign a petition revoking Canadian Magma Energy’s (MXY.to) acquisition agreement of Icelandic energy company HS Orka, it cannot be ignored by the authorities.
"More than 20,000 people have signed the petition already and Björk is certain that the remaining signatures will be gathered during the karaoke marathon. The petition demands: "Icelandic natural resources shall be owned and governed by the public."
“For 100 years good people protected our natural resources and public interest. In the outvasion period the sale of natural resources and irresponsible access to them began. Now it is time to stop that unfortunate development,” the press release declares."
OXFORD, England, Jan 5 (Reuters) - Exchange-traded funds (ETFs) backed by physical commodities other than gold are an "utterly crazy idea", Goldman Sachs (NYSE: GS - news) analyst Jeffrey Currie said on Wednesday."The key to why it works in gold but won't work in beef or soybeans is that gold is very easy to store," he said at the Oxford Farming Conference.ETFs backed by physical gold have attracted investment of up to $8.1 billion. UK-based ETF Securities last month listed products backed by copper, nickel and tin on the London Stock Exchange and plans to launch aluminium, zinc and lead this quarter.Those products have so far attracted only a small fraction of the level of investment in gold ETFs.Currie said the gold required to back the $8.1 billion investment would roughly fill the stage at the Oxford Farming Conference while an aluminium ETF with a similar investment would need enough metal to fill London's Wembley Stadium. CONTINUES HERE
San Salvador: Latin American nations Honduras and El Salvador have the most murderous in the world, according to calculations made by Contraputno and based on murders rates, the best true measure of the magnitude of the phenomenon. The murder rate indicates how many murders occur for every 100,000 inhabitants.
As things stand, at the end of 2010 Honduras had a murder rate of approximately 72.8 for every 100,000 inhabitants, while El Salvador had a murder rate of 71.
Erroneous data that an international news agency diffuses tries to put Venezuela, Colombia and Mexico as the most violent countries in Latin America and the world, however their murder rates are lower than those of Honduras and El Salvador.
In fact, although in Venezuela there were 17,600 homicides (in 2010), its murder rate is 67.6 for every 100,000 inhabitants, as its populatioon is 26 million. In Colombia the mruder rate is 35.7 and in Mexico the murder rate is 14.5 for every 100,000 inhabitants.
By contrasting the figures with nations at war, such as Afghanistan and Iraq, it is notable that their murder rates are lower than the Latin American countries mentioned. In Afghanistan the approximate murder rate was 14 and in Iraq, 18.
The world average murder rate is 8 per 100,000 inhabitants. Rates higher than 10 are considered epidemics by the World Health Organization (WHO).
...the gold/silver ratio.
Today's slice of LatAm Wonderful comes from Ecuador and is translated from this report. Enjoy.
Ramón Moreira died of a stroke aged 72. According to family members, his funeral was attended by at least 52 of the 96 children that, during his life, he said that he had procreated with at least 49 women.
In La Chorrea, a small fishing village in the coastal tourist province of Manabí in (western Ecuador), lived "Don Ramón Gonzalo" who attracted the attention of locals and foreigners alike due to his almost unique history.
He was proud to live up to the Manabian male's reputation of "brave, macho and machetero (machete-wielding)" for having seduced at least 150 women. "I was dangerous. A good fish head's soup, plenty of shellfish, the sea breeze and I was ready to go," he told this reporter during a recent interview. He said that his first two children were born in Medellín more than 53 years ago and since then assured that another 48 women had had children by him. "I was born with the gift of seducing women, it's not my fault", he said, with an expression of mischief and nostalgia.
In his time he was a seaman, truck driver, contrabandist of fuel and oil, salesman, fisherman and in his final years the owner of a small hotel and beach restaurant along with his partner of the last 26 years, Katiuska Argote. With her he had seven children: Priscila, María Katiuska, David, Daniel, Dante, Estefanía and Evelyn. "This old man only gave me respite during the 40 day post-natal period and the next day he was trying for a new baby," said his partner, who also had to put up with him having children with other women at the same time. She remembered that her third child David was born on March 8th and 10 o'clock at night and five hours later, in the same town, another woman gave birth to Frank who was also a child by "Don Ramón". "He was very attractive an gallant and never lied to me. When I met him I was 20 years old and I fell in love with him to such an extent that I eloped with him. He never lied to me, he said that he had 50 children and I didn't believe him, but it was true and afterward he kept on having children with me and with other women," said Katiuska.
Don Ramón, despite his poor health having suffered from ulcers, a stroke and a heart attack, remembered the names of many of his women. "I had ten Marianas in my life" he commented while trying to list the names of the women who had given birth to Gonzalo and Hernán Moreira Díaz who lived in Colombia, to Gerardo and his brother 'El Chiringo' who were clothing salesmen in Panam, to Onías who lived in Italy and to another 10 Gonzalos in his native Manabí.
Katiuska, partner of Ramón Moreira, had the dream of reuniting all his children. In 2005 she managed to get the names of at least 50 of them and said she had reunited 42 of them at their house. "They were all married and on doing the count, Ramón's grandchildren may have already been 200," she said.
An album of yellowed photos was treasured by Ramón, who showed them off proudly between tears and regret for not having known all the children he said he'd brought to the planet. "I have no regrets, these things are destiny and I never wanted to hurt anyone. Everything I did was with love", he said nostalgically.
For the first time in six months, I’m not so sure about goldThe note that follows is today’s main subject. It’s also long, rambling, potentially boring and a departure from the usual Weekly fare (so any new subscribers out there who get a heavy heart from today’s edition, fear not because the issues from November or December are more typical of what you can expect in the future). This note exists by way of response to feedback from the short-term market doubts raised in IKN86 last week and the way we’re not in any rush to add back exposure to equities after selling positions in (REDACTED)
We begin. Back in IKN60 dated June 27th we made a nice clear policy statement about the price of gold which was...
I think it’s going up from here.
...and then in IKN74 we reiterated the sentiment by saying
Yes, I still think gold is going up from here.
As it happens this called has turned out rather well, as gold has done more than well in the last half year, not to mention its half-sibling silver that decided to stay with its Dr. Jekyll persona and perform magnificently. And then copper and the base metals...all in all the second half of 2010 was quite a ride for us metals longs.
However, for the first time since IKN60 I’m now looking at the immediate future of the metals market and can’t help but think we may be due a correction (that’s in red because I wanted to make a point, ok?). Or we may not. The point here is that I don’t really have a good idea on the immediate future of gold the metal and there’s new found doubt about the market direction in January/February 2011. This is a different position, a change of stance from the last six months and although (try as I might) I can’t reach a conclusion and make a pro-active investment call on it all, the change from a clearly bullish “be long stay strong we’re going up” stances to this present undecided, “mu” type of attitude needs to be duly noted. To add background, let’s look at both the bullish and bearish positions and pick holes in them.
There are three positions that can be held by any investor on any potential trade at any time: Buy, hold or sell. Long, neutral, short. Like, unsure, dislike. Bull, coward, bear. For six months your author has been bullish gold, bullish those things that gold pulls with it (silver, copper all friends) and has had a full quota of cash devoted to stocks to prove. Today’s change isn’t the reactionary opposite to being bullish and we’re not worried or screaming or liquidating wholesale. All that’s happening is a step or three are getting taken backwards and a call of, “I’m more neutral, I’m not in a hurry to be long again, I’m good about holding thru on this-or-that, I’m unsure about what’s in the pipeline....I’m a goddam lilly-livered, yellowstreaked coward.”
In this binary, black and white, polemic driven world of “you’re either with us or against us”, the call of “I’m not sure” tends to be denegrated and even mocked, but your author contends that it’s a valid course of action (and that the market is run by fools for fools). There’s nothing wrong with being a fool in the market either (my stars I know because I’m one of them); all I want to do is to avoid being the greater one.
Oh, wait a moment:
Here's the link, here's the headline
Vena Discovers 115 Metre Extension at Azulcocha Polymetallic Mine in Peru Including an 11.65 Metre Drill Intersect Containing 25.2% Zinc and 3% Lead
DYODD, cos I'm long this one (and winning already).
...Uranium U308, two year timescale:
On Sunday evening we asked you to put a caption to this photo....
Chile’s peso fell the most since October 2008 after the central bank said it plans to buy $12 billion in the foreign-exchange market starting tomorrow in an unprecedented bid to weaken the currency.
The peso fell 4 percent to 485.05 per U.S. dollar as of 8:41 a.m. in Santiago (6:41 a.m. New York time) from 465.75 per dollar at yesterday’s close. It gained 8.4 percent in 2010, the best-performing currency in Latin America. Central bank President Jose De Gregorio unveiled a plan yesterday to buy $50 million a day from Jan. 5 until Feb. 9.
Chile joins other emerging nations in a battle that even De Gregorio has signaled risks being more expensive than it is helpful as the Federal Reserve pumps $600 billion into the U.S. economy while keeping its benchmark interest rate near zero. Chile’s peso has gained 17 percent against the U.S. dollar since the end of June, second only to CONTINUES HERE
Gotta love the free market, weon.
...was sent to subscribers a few minutes ago (at just after 11am est).
This is what they wrote:
DENVER, Jan. 4, 2011 /PRNewswire/ -- Mercer Gold Corporation ("Mercer Gold" or the "Company") (OTCQB: MRGP; AN4 -Frankfurt) has received confirmation of positive results of both gold and silver values from Hole MGDH-02 from the Guayabales Gold Project in the Marmato District in Caldas Department, Colombia.
Hole MGDH-02, drilled to a depth of 300.5 meters from the same pad as MGDH-01/01A at an angle of -60 degrees intercepted 4 meters of 2.00 grams per tonne gold and 33.5 grams per tonne silver within a broad area of anomalous values in the Encanto Zone. Similarly, the predicted parallel zone to the Encanto mineralization was also encountered.
Gold and silver values are now available for both zones and are shown in the table below.
Est. True Width (m)
James Stonehouse, Mercer's Country Manager states, "These results show the continuity of the structural environment we are looking for. The anomalous areas are about the same width or slightly greater, so I suspect we will find more strongly mineralized areas in this structure as we move forward."
Mercer has recently completed hole MGDH-03, its third drill hole on the Guayabales Project and expects results shortly. Drilling has resumed after a break for the holiday season in December and will investigate other possible targets at Guayabales, while continuing to further define the Encanto Zone.
Rahim Jivraj, Mercer's President and CEO states, "It's encouraging to see the results of this hole since it was drilled with the same orientation, but with a different angle from the same drill pad as MGDG-01/01A. It starts to substantiate the depth of the zone. I look forward to the results from our third hole and other proposed holes. We are especially interested in those along the Guayabales southern border and adjacent to the Marmato / Echandia trends."
The Company is also pleased to report that it has amended the exploration expenditure commitments under the Mineral Assets Option Agreement. The amended terms contemplate $750,000 to be spent in 2010, $5,750,000 in 2011, and $5,000,000 in 2012 respectively.
And this is what it means
DENVER, Jan. 4, 2011 /PRNewswire/ -- Mercer Gold Corporation ("Mercer Gold" or the "Company") (OTCQB: MRGP; AN4 -Frankfurt) has received a whole heap of crappy gold and silver values from Hole MGDH-02 from the Guayabales Gold Project in the Marmato District in Caldas Department, Colombia but is determined to slap a kilo of lipstick on this pig and try to pass off the pisspoor results as something positive and encouraging.
To that end, we publish the mediocre grades but immediately launch into a whole bunch of geological babble to try and pull the wool over the eyes of those stupid enough to have believed us in the first place and who have already bought into our spiel. We understand the power of suggestion and affirmation because that's exactly how this type of scam manages to survive more than a few weeks.
The company is also pleased to report that we managed to re-negotiate optioning terms with the local owners of our property. This is because we didn't spend enough money on the property in 2010 due to the fact that we have no cash to spend. We're now obliged to spend $5.75m in 2011 which means that either we're going to dilute your asses to kingdom come or that we're going to lapse on the terms of the deal at the end of 2011 and lose the whole shebang.
1) The Presidential Elections (Toledo featured as frontrunner...toldyaso)
2) Social Conflicts (with mining front and centre)
3) Drug Trafficking (the one nobody ever seems to talk about...i wonder why?)
1) Strictly concerned with fail photos/texts/videos situations etc from Peru2) In Spanish3) Funny (unlike failblog, which has lost its charm)
Here's another (local knowledge needed for this one)
And wonderfully, this one labelled "Fridge transport" that needs no explanation
Before you ask, yes it really is like this.
Good Sunday evening.
The mistake wasn't the champagne on New Year's Eve. The mistake was deciding that rum and coke was a great thing to drink after the wife and I had celebrated 12 midnight and finished the champagne. As a result, my normal Saturday morning writing time disappeared under a hangover and as a consequence of that, this week's edition needed more Sunday and was sent at 8:30pm local time, perhaps five hours later than normal.
Please find attached IKN87. All feedback welcomed.
1) Initial reports are that the quake has caused little material damage (though electricity cut-offs are widespread) and officials say there's little cause for alarm.
2) If you've ever been in a 7-or-above quake you'd be alarmed as hell, I personally guarantee that one. When a rumble is 7+ and not at depth, officials can stick their soothing words where the sun doesn't shine.
3) We're nowhere near a full moon, setty. Next one is January 19th. Nice video though.