Here's the take of the wonderful Carlin in Peru's La Republica today:
And here's your humble scribe's translated version.
Here's the take of the wonderful Carlin in Peru's La Republica today:
Christ of St. John of the Cross, painted by Salvador Dali in 1951.
The painting is known as the "Christ of Saint John of the Cross," because its design is based on a drawing by the 16th century Spanish friar Saint John of the Cross. The composition of Christ is also based on a triangle and circle (the triangle is formed by Christ's arms; the circle is formed by Christ's head). The triangle, since it has three sides, can be seen as a reference to the Trinity, and the circle may be an allusion to Platonic thought. On the bottom of his studies for the painting, Dalí explained its inspiration: "In the first place, in 1950, I had a 'cosmic dream' in which I saw this image in colour and which in my dream represented the 'nucleus of the atom.' This nucleus later took on a metaphysical sense; I considered it 'the very unity of the universe,' the Christ!"
I swear to God that if I ever come across you in person, I will rip you apart.Got it?But of course, you won't ever show up, cause you are a coward!
You guys keep me amused via my mailbox, and for that I thank you. Here's an example from "regular reader" this morning:
Just in case you are tempted to partake in a bit of self-flagellation on this Easter weekend, I recommend you listen to this instead.
It should do the trick...
I got a chuckle when I tried to open the Katusa link RR sent you in RealPlayer, and this message popped up (I’m not kidding!): “This clip cannot be played. It contains unexpected data and may be corrupt.”Even RealPlayer has figured Katusa out…?
We are raising our peak gold/silver scenario to $1,600/$47.50 (from $1,500/$30) for equity target price setting. For earnings purposes, we are also raising our 2011 price deck to $1,525/$42.00 (from $1,450/$29.75). See Figure 1 for the revised profile.
* We continue to believe that macroeconomic conditions continue to favour higher gold and silver prices, including record global liquidity, inflation prospects and low real interest rates, currency debasement on sovereign debt woes and political unrest in the Middle East & North Africa. The Standard and Poor's cut in the US credit outlook to negative and higher inflation readings have been the catalysts to move gold through our previous peak of $1,500/oz.
* Our average implied return for the group is 36%, based on a target P/NAV multiple of 1.20x (revised down from 1.30x but higher than current 1.05x). Ratings revisions include: Agnico-Eagle, Hecla and Silver Wheaton upgraded to BUY from Hold, and Alamos Gold upgraded to SPECULATIVE BUY from Hold. 2011 Focus list picks include Goldcorp, Allied Nevada and Primero Mining.
* We expect Q1/11 results to highlight year-over-year increases in earnings but some sequential declines due to production levels and cost pressures with only a modestly higher gold price. Our Q1/11 EPS estimates are notably above consensus for ABX, and sequentially higher for GAM, MFL, SLW and PAAS. Our estimates are below consensus for AEM, ANV, YRI and ELD, and we expect sequential declines for CG, ANV, GG and P.
TORONTO, ONTARIO--(Marketwire - April 20, 2011) - The Board of Directors of Sinchao Metals Corp. ("Sinchao" or the "Company") (TSX VENTURE:SMZ) reports that, further to the announcement made on February 7, 2011, regarding the ownership status of four of the property claims comprising the Sinchao Project, it has determined that title to the claims were not properly transferred to a subsidiary of Andean American Gold Corp. ("Andean"), the party that purported to transfer the claims to Sinchao. As a result neither Andean nor Sinchao holds any proprietary interest in the claims, which claims contain approximately 40% of the inferred resource previously disclosed by the Company. The Company has been striving to reach an agreement with the parties that Andean originally dealt with in order to remedy the deficiencies in title however it has been unable to reach such an agreement. The Company is therefore not optimistic that it will be able to remedy the deficiencies in title, and will make the necessary adjustments to its financial statements to reflect the write down of these four properties.
Bolivia Weekly has the English language scoop on it, which includes:
"Last week, Coeur d’Alene announced that the Morales administration had assured it that it wouldn’t be nationalized; now it appears that the Pan American Silver’s San Vincente and Swiss-owned Sinchi Wayra’s mines will not be affected."
One of the ways it does it like this:
1) Recommend hundreds of stocks
2) Never sell the losers
3) Boast about the amazing track record of closed trades.
...gold pornography, aka the hourly chart from today.
Post written with Mexfiles in mind.
1) José Adrián Pérez, idiot member of Argentina's national congress said that he was "a good author", but when pushed by a reporter said that he'd done "a lot of valuable things, for example 'One Hundred Years of Solitude'."
2) Diana Conti, another idiot member of congress (and ex-Senator to boot), noted Vargas Llosa as "a man true to his principles" but also the dude that wrote 'The Open Veins of Latin America'.
Many factors such as poverty, ineffective institutions and environmental regulations may prevent developing countries from managing how natural resources are extracted to meet a strong market demand. Extraction for some resources has reached such proportions that evidence is measurable from space. We present recent evidence of the global demand for a single commodity and the ecosystem destruction resulting from commodity extraction, recorded by satellites for one of the most biodiverse areas of the world. We find that since 2003, recent mining deforestation in Madre de Dios, Peru is increasing nonlinearly alongside a constant annual rate of increase in international gold price (~18%/yr). We detect that the new pattern of mining deforestation (1915 ha/year, 2006–2009) is outpacing that of nearby settlement deforestation. We show that gold price is linked with exponential increases in Peruvian national mercury imports over time (R2 = 0.93, p = 0.04, 2003–2009). Given the past rates of increase we predict that mercury imports may more than double for 2011 (~500 t/year). Virtually all of Peru's mercury imports are used in artisanal gold mining. Much of the mining increase is unregulated/artisanal in nature, lacking environmental impact analysis or miner education. As a result, large quantities of mercury are being released into the atmosphere, sediments and waterways. Other developing countries endowed with gold deposits are likely experiencing similar environmental destruction in response to recent record high gold prices. The increasing availability of satellite imagery ought to evoke further studies linking economic variables with land use and cover changes on the ground.
I'm off to buy a fridge with the wife. Have fun
...the Greenback (USD) vs Loonie (CAD) forex rate, last 5 days as an example of Murphy's Law.
Redhill Clarifies and Restates Disclosure on PropertiesPress Release Source: Redhill Resources Corp. On Monday April 18, 2011, 6:06 pmVANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2011) - Redhill Resources Corp. (TSX VENTURE:RHR - News) -
"As a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure."
On its website, investor relations material, and corporate presentation, Redhill discloses a mineral resource for the Gullewa Gold Project that
On its website, investor relations material, corporate presentation, news releases, and MD&A, the Company discloses:
On its website, investor relations material, corporate presentation, news releases, and MD&A, the Company fails to identify and disclose the relationship to the Company of the qualified person who approved, prepared or supervised the preparation of the technical information it is disclosing, contrary to section 3.1.
On the company's website, redhill-resources.com under the Guellewa project, the Company's NI 43-101 was incompletely reported as:
"Redhill purchased the Gullewa Gold Mine in 2008, and completed a NI 43-101 Technical Report on the project for a Measured and Indicated Resource centered at the main open pit area at Deflector of 1.7 million tonnes at 6.74 g/t gold equivalent for 369,000 ounces, and an Inferred Resource of 1.6 million tonnes at 7.71 g/t gold equivalent for 400,000 ounces. Other areas have an Inferred Resource of 72,700 ounces of gold."
This is non compliant to section 2.2(d) and 3.4(b), which states that the grade of each contained metal used to obtain the gold equivalent is to be included in the mineral resource reported.
The company website and future presentations will now indicate the following:
ed the Gullewa Gold Mine in 2008, and completed a NI 43-101 Technical Report on the project reporting Measured and Indicated Resource centered at the main open pit area at Deflector of 1.7 million tonnes at 4.18 g/t gold, 6.87 g/t silver and 1.03 percent copper for a gold equivalent grade of 6.75 g/t gold equivalent. Also reported in 2008 are Inferred Resource of 1.6 million tonnes at 6.50 g/t gold, 3.41 g/t silver and 0.48 percent copper with a gold equivalent grade of 7.71 g/t gold equivalent.
The following resource estimation was filed on June 13, 2008 in a report titled; "Technical Report Gullewa Gold-Copper Project, Yalgoo Mineral Field, South Murchison District, Western Australia", by Stephen J. Godden, and was an independent Qualified Person as defined under NI 43-101. The resource estimation section, dated August 2006, was prepared by J. Graindorge, who at the time was the Senior Resource Geologist for Snowden Resources, and was an independent Qualified Person as defined under NI 43-101. The resources were prepared according to JORC 2004, and as such they may be reasonably be construed to be NI 43-101 compliant, as defined by CIMM 2005 (i.e the codes that applied at the time the Mineral Resources were compiled).
As such any resource numbers that Redhill has quoted in the above table cannot be relied on as they were not prepared for Redhill and therefore are not considered 43-101 compliant.
In March 2011, the Company prepared an investor presentation titled "Corporate Presentation", which was also posted on the company's website. The presentation and the company's website, news release, and management discussion and analysis contained the following information on page 7, Gullewa Gold Mine-Western Australia:
"The project area contains substantial existing resources of 650,000 oz gold (Au) and 25,000 tonnes of copper (Cu) 43-101".
This is non compliant to section 2.2(b) which requires each category of mineral resource and reserve to be stated separately and section 2.2(c) which does not allow inferred mineral resources to be added to other categories of mineral resources.
Future presentations will now indicate the following:
Redhill purchased the Gullewa Gold Mine in 2008, and completed a NI 43-101 Technical Report on the project reporting Measured and Indicated Resource centered at the main open pit area at Deflector of 1.7 million tonnes at 4.18 g/t gold, 6.87 g/t silver and 1.03 percent copper for a gold equivalent grade of 6.75 g/t gold equivalent. Also reported in 2008 are Inferred Resource of 1.6 million tonnes at 6.50 g/t gold, 3.41 g/t silver and 0.48 percent copper with a gold equivalent grade of 7.71 g/t gold equivalent.
The Company's Management Discussion and Analysis ("MD & A"), the most recent being January 31, 2011 for the third quarter ended November 30, 2010, does indicate the above correct 2006 Mineral Resource Estimate, however Table 2-Other Mineral Resources, Gullewa Project Area has been retracted.
The Company's Press Release dated, November 9, 2010, titled "Gullewa Drill Program Complete" indicated the above 2006 Mineral Resource Estimate, but incorrectly combined Measured and Indicated Resources, with Inferred Category, which is non-compliant with 43-101, section 2.2 (c), and should not be referred to.
The Company's Press Releases dated January 18, 2011, titled "Deflector Deposit Resource Upgrade and Recommencement of Drilling at Defector", and February 2, 2011, titled "Extension Drilling Underway at Gullewa", refer to Measured, Indicated and Inferred Resources announced by the Company's partner, Mutiny Gold Ltd. While these resources are believed to be compliant with JOREC, the Company has not completed a review of the data or resources with respect to compliance with 43-101, and should not be relied upon.
Content of the presentation, MD &A and the website failed to clearly indicate that the disclosure was approved by a qualified person as defined by NI 43-101. Going forward, all website content and materials distributed to the public will be under the supervision of Brent Butler, B.Sc. In Geology; Member SEG, AusIMM whom is the Company's Qualified Person as defined under NI 43-101.
The Company retracts the prior investor presentation, and will provide an updated and revised new presentation, to replace the prior presentation, which will be available on the company's website.
In addition to the removal of the retracted language, the following updated cautionary language, among others, has been added to the home page of the company's website.
Cautionary note regarding mineral resources and mineral reserves:
Readers should refer to the Company's current technical reports and other continuous disclosure documents filed by the company available on SEDAR for further information the mineral resource estimates of the company's projects, which are subject to the qualifications and notes set forth therein, as well as for additional information relating to the company more generally. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources have insufficient confidence to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability suitable for public disclosure. Neither the company nor readers can assume that all or any part of an inferred mineral resource will be upgraded to indicated or measured mineral resources. Most projects at the inferred mineral resource stage do not ever achieve successful commercial production. Each stage of a project is contingent on the positive results of the previous stage, and there is a significant risk that the results may not support or justify moving to the next stage.
In those instances where the company has retracted, revised, clarified or updated previous disclosure, the company advises readers not to rely on such statements as they may continue to be found in the public domain.
This news release has been reviewed by Brent Butler, a Qualified Person as that term is defined in NI 43-101.
REDHILL RESOURCES CORP.
Graham Harris, Chairman
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact:Investor Relations Redhill Resources Corp. 604-662-8184 or Toll Free: 1-877-662-8184 604-602-1606 (FAX) email@example.com www.redhill-resources.com
On Monday April 18, 2011, 12:11 pm
TORONTO AND WINDSOR, April 18 /CNW/ - A class action has been commenced in the Ontario Superior Court of Justice on behalf of all investors who acquired shares of Alange Energy Corp. ("Alange") during the period August 30, 2010 to and including January 12, 2011 (the "Class Period"). The plaintiff alleges that the defendants engaged in violations of Ontario's Securities Act and the common law.Contacts
The plaintiff has retained Sutts, Strosberg LLP to prosecute the class action.
The plaintiff alleges that throughout the Class Period, the defendants misrepresented its daily production of oil that was reported and disseminated to the public.
On January 13, 2011, Alange disclosed that it overstated its daily production of oil by as much as 39 per cent. After the disclosure, Alange's share price declined by more than 37 per cent on trading volume of more than 100 million shares.
Jay Strosberg, a partner of Sutts, Strosberg LLP said, "The question that is being asked is how could a company with experienced management so significantly overstate the amount of oil that it was producing?"
Sutts, Strosberg LLP pioneered securities class actions in Ontario. As a result of resolving class actions such as YBM Magnex, Southwestern Resources, Atlas Cold Storage, CV Technologies and NovaGold Resources; Sutts, Strosberg LLP has recovered more than $150 million for its clients in securities class action alone. Please visit the Sutts, Strosberg LLP website www.strosbergco.com and www.aleclassaction.com for more information about the Alange class action.
519.561.6285 or 1.800.229.5323
jay AT strosbergco.com
SILVER'S UNDER U$43/OZ!!!!
Which one sounds the closest to you, kind and gentle reader?
1) To provide Rick Rule with another "heads i win tails you lose" vehicle.
2) To show Marin Katusa as the bullshit know-nothing self-serving pumper that he is.
3) To enhance Casey Research's growing reputation as a house of scams and bullshit promos.
4) To separate fools from their money in the time-honoured Canadian market tradition.
5) To make Ross Beaty's Magma Energy (MXY.to) look like a strong-performing stock.
6) To provide electricity supply to Nicaragua (and yeah, before you write in I know this one is pushing reality a little too far)
7) To help pay for the closure costs of the Lumiere and DB Bistro Moderne restaurants.
The information and opinions contained within this site reflect the personal views of Inca Kola News and therefore all material within should not be construed as accurate or reliable or be utilized as advice for investment or business purposes. Independent due diligence and discussions with ones own investment and business advisors is strongly recommended. Accordingly, nothing on this site should be construed as offering a guarantee of the accuracy or completeness of the information contained herein, as an offer or solicitation with respect to the purchase or sale of any security or as an endorsement of any product or service. All opinions and estimates included on this site are subject to change without notice. All content may be reproduced under fair use doctrine providing proper credit and a return link is made to this site.