Child vs Piñera

In just six seconds....Child Wins!


Yay!

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Entertaining, educating and edifying things to read this weekend

Juanita Jean goes into Texas Gov. Rick Perry's academic record and finds mediocrity all over the place, apart from the bits that involve animal husbandry and guns. And it's not as if his mediocrity came up against Yale or Harvard students either, as JJ points out:

"Y’all, this is Texas A&M, where they had to rename the town of Bryan to College Station so that the college students would know where to get off the train."

Multiple guffaws await you over at Juanita Jean's today.

Market Narrative wonders why your humble scribe doesn't whack into Century Mining (CMM.v) any longer. The answer's that, like Metanor (MTO.v), there's little in the way of challenge but Market Narrative makes a wonderpost on CMM.v himself. You gotta love the linkslist he put together on the CMM news releases. More hearty yoks.

Kid Dynamite does the heavy lifting, reads through the chatter about S&P's US ratings downgrade and puts together all the things you need to know in one easy-to-read post.

Jesse's Café Américain runs a posts entitled "Here Comes the 'Freedom To Invest Act'" and points out the lexicon fun. "As a general rule of thumb, any law in America that contains the word 'Freedom' or 'Patriot' in its title is brazenly promoting a crime, or a fraud, or some self serving corruption of the common good." True dat.

Gold (GLD) & Silver (SLV) & Miners (GDX) & Juniors (GDXJ)

Here's the chart that points out a simple truth:

When the going gets tough, the world sells its juniors and runs to mommy. Whimpering.

The Friday OT: The Walker Brothers; The sun ain't gonna shine anymore

Kirsty sneaks in on the rails and brings us this gem rarity of a video....love the close-up headshot


From the days when people wrote songs and then trained their voices to sing. Classic

Murdoch

Up to his usual standards.

How you gonna kick it?
Gonna kick it route down


Via Felix Salmon

How to make a small fortune in junior mining stocks

1) Start with a large fortune.

2) Follow Louis James's advice over at Casey Research.

3) Wait three months.

I mean, if Lobito thought East Asia (EAS.v) was a bargain at $5, he should be buying with both hands today, no? And getting you to buy, right? Beats me why volume is so low today, what with Lobito pumping this dog yet again yesterday....

I've just bought some of this

A quick trade planned for this admittedly small chunk that won't be included as part of any core holding.

The drop was just too tempting and I've had cash on the sidelines for this kind of reason. DYODD.

UPDATE: Added more, not so small a chunk now. Worth saying out loud here something that I whack subbers over the head with all the time: I'm not a great very-short-term trader and my timing often sucks. However I do know value when I see it and sometimes...well, you just gotta stop the jawing and put your hard-earned where your mouth is.

UPDATE 2: Yup, my timing sucks. I'll live.

UPDATE 3: Hey, not so bad. Please ignore update 2 (that happened when FVI dipped under 5). Methinks the market is rallying on thoughts of next week's FOMC. By the way, the single most fascinating stock out there, for me at least, is Stillwater (SWC). No position in that one but I'd love to be a fly on the wall of that boardroom these last 48 hours.

UPDATE 4: This received from reader "B", a market professional, about the above comment on Stillwater (SWC):

Agree with you.. Stillwater is extremely interesting down here. It’s ridiculously cheap trading at base metals multiples for a largely platinum group metals producer; especially one outside of South Africa with all those labour and power issues driving costs up.

The deal with Peregrine is locked in that SWC has 0 outs, aside from walking away and getting sued, but management has no intention of doing that.  

It’d be crazy if Xstrata or someone came in and scooped up SWC for $18… but my gut tells me nothing happens and the deal goes through as planned.

Once they drill up Peregrine in Q4/11 I think the market will like what they see and the stock (SWC) will see big gains.

UPDATE 5: Closed the trade, taken the neat little profit. The end

Ecuador delays its mining contracts...again

Hey, remember those negotiations between Correa's Ecuador and the big mining companies that want to go play there? Yeah, you know, those deals that were supposed to be agreed upon and signed in 2010....then January 2011....then March....then we were assured that July would see the done deal...then most recently negotiations would wrap up end July and be signed in August?

Well, make that October now. Here's a translation of the top of this report:

Rafael Correa: Mining Activity Will Be Beneficial

Various contracts will be signed next October for mineral exploitation, amongst them that of the Rio Blanco project of International Minerals (IMC), situated in the Molleturo area.

Date of publication: 4 Aug 2011

During his visit to Cuenca, President Rafael Correa said during a visit to the Azuay government that he had hoped to conclude negotiations this month, but the demands of the mining companies had delayed the process.

Copper: A Russian proverb

"Many people who have gold in the house are looking for copper outside."

Cuprum autem infirma but as mentioned previously, until it seriously breaks $4 to the downside and seriously stays there, nihil mutatum.

Chart of the day is...

...

Have a nice day.

We Twitter

After originally deriding the whole thing, I've now changed my mind and have really been getting into Twitter recently. So why not come over and join in the fun?

Chile today

 

Click here to an excellent gallery of photos by EMOL from the student disturbances in Chile today as they march, cause general havoc (good for them) and protest against the education they're offered by the State. So far today there have been 527 arrests, we hear. That number's likely to go up, too.

Louis James of Casey Research needs to remember the basics: When In Hole, Stop Digging

Better a would-be whistleblower than a would-be geologist that 1) doesn't have a clue as to what he's talking about but 2) insists on bullshitting the people that pay his salary. Louis "lobito" James goes from bad to worse and deserves all that's coming to him. The quote below is from this month's Casey "International Speculator" as the shameless pumping asshole discusses his "term or the month", smearing, and tries (and utterly fails) to make a defence case for his bullshit pump Bayfield (BYV.v).

Bottom line, yes, beware of smearing, but also don’t let yourself get stampeded by critics seeking to make
names for themselves as would-be whistle-blowers.

Dude, don't you get it yet? It's your word, that of an unqualified stock pusher, against the BCSC. The freakin' BCSC made Bayfield correct its BS, nobody else. You lose, dumbass.

Peru's metal production slipping

Hidden behind the record and near-record dollar revenues for main products copper and gold, Peru's production numbers for metals should be real cause for concern for the new Humala government. Gold isn't great but is getting propped up by the disgusting practices over in Madre de Dios...

...copper is regular (though also somewhat lacklustre recently) because nearly all of it comes from the mega-pit operations (Cuajone, Toquepala, Antamina, Cerro Verde etc)...

...but the other metals have classic warning signs of production fatigue that are clear to see.

NB: Please note that the Y-axes on these charts have been altered to show the changes more clearly. I'm not trying to fool anyone, just trying to make the changes as clear as possible.

Silver

Zinc

Lead

If I were Peru's flamante Mining Minister I'd be more than a little worried about this trend, cos it's not a friend.

Japan's FinMin Noda...nice guy

After all, if he's giving away free money like this he can't be all bad.

dyodd

Malaga's (MLG.to) poor 2q11 production numbers

Wondering why Malaga (MLG.to) hasn't announced its 2q11 production numbers to the world? Wonder no longer, this is why:

It doesn't have to inform the Canadian market, however it is obliged to tell the Ministry of Energy and Mining in Peru of its monthly production tonnages. As the June numbers were announced yesterday, we now know that the 2q11 at Malaga was nothing short of a disaster. C'mon, hands up who remembers all that about how wonderful life would be once the new machinery were installed and production tonnages raised?

Jay Taylor actually pumps this dog. A case of fool and money parted if ever there was one.

Chart of the day is...

...GLD, the gold ETF, 12 month chart plus squiggles.

If you think I'm selling mine just cos the chart looks overbought in the short term, you're plain mad.

Minefinders (MFN) (MFL.to) 2q11 financials

A simple yet interesting chart from your author's numbercrunch of the 2q11 numbers:

On the whole MFN gave us a good set of numbers, by the way.

This must be drawn to your attention

The finest piece of script on the US economy I've ever read is at this link. Here's how it starts, you will click through to read it all and you will click through right now.

SEWARD, NE—Claiming he wasn't afraid to let everyone in attendance know about "the real mess we're in," Federal Reserve chairman Ben Bernanke reportedly got drunk Tuesday and told everyone at Elwood's Corner Tavern about how absolutely fucked the U.S. economy actually is.

Bernanke, who sources confirmed was "totally sloshed," arrived at the drinking establishment at approximately 5:30 p.m., ensconced himself upon a bar stool, and consumed several bottles of Miller High Life and a half-dozen shots of whiskey while loudly proclaiming to any patron who would listen that the economic outlook was "pretty goddamned awful if you want the God's honest truth."

CONTINUES HERE

Gold crystal ball

"I look deeply into my crystal ball....and I see....plenty of appearances on BNN and suckers sending money to me..."

Portage Resources (POTG.pk): Don't say I didn't try to warn you

A chart:

An owl:

A whole bunch of links to the posts we've run here to point out the bleedin' obvious. The first one is here, dated June 17th and with a title like "Portage Resources (POTG.pk), a pump and dump scam" it couldn't have been much clearer (at least I think so). Then here's number two, number three, number four, number five, number six, number seven, number eight, number nine and number ten (obsessive? moi?). Today's makes eleven and I think this will be the last one on Portage Resources (POTG.pk) because if you haven't taken the point by now you need to do some remedials in 4th grade.

This company has been running a bullshit scam and you, dear long, are a sucker. However, the money you've thrown down the toilet here won't be totally wasted if you decide to learn from your noob error and not get fooled again...but that's between you and your karma, nothing I can do to help you there. DYODD. 

The end

Disclosure: No position in POTG.pk, not now, not ever, not long, not short. I did try to get a lend on it when it was around 90c or a $1, but the market was bone dry at the time. But really, this series has only had your education at heart, not trying to make money off these scumbags.

Nothing new under the sun

A quote by H. L Mencken that shows there's nothing new about all these things our modern crop of moronic silverbug/goldbug/LiveFreeOrDie warriors rail and complain over:

"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary."

Seriously, the day some of these idiots get off their high horses, open a few books and read lines written by people who are or were far, far more intelligent than they are will be a great day for the interwebs. You are all boring, every single last fucking idiot one of you, and bring nothing of worth to any debate, so do us all a favour and...

...or if you're physically incapable of that, the least you can do is stop filling up my inbox with utter drivel.

UPDATE: I'm sorry if you're feeling upset now. Here's a nice cartoon bunny for you

UPDATE 2: And now some music dedicated with heartfelt wishes. Volume to 11, please.

Chart of the day is...

...an update of (last did to May) monthly oil production in Colombia, 2007 to date.

Yesterday we got the July 2011 figures from the Mining & Energy minister and Colombia pumped an average of 929,226 barrels per day (which would have been more but for that Rubiales protest a couple of weeks ago that PRE.to promised didn't exist). That compares 783K barrels in July 2010, 657k barrels in July 2009 and I could continue. Perhaps the best metric is that Colombia's barrel-per-day output in the first seven months of 2011 is 16.5% up on the same period of last year. Historical data from here.

Chile: President Piñera's approval ratings drop to all-time low

The 30% approval (62% disapproval) scored by Seb Piñera in the Adimark GfK poll released today isn't just the worst approval rating he's had; it's the worst approval rating ever scored by any Chilean president.

So IKN goes for the succinct analysis commentary: It sucks. Casillero del Diablo served, the end.

One news source per country

On more than one occasion, usually after getting a mailed in question on the subject, it's occurred to me to try and nail down one single news source for each country in South America, one per country (all homegrown and all Spanish or Portuguese language of course) that can be relied upon as good news sources, not too biased one way or the other. 

So today's the day and here's a list. Some are good (Nacion Arg, Folha Braz, Semana Col), others are ok I suppose (Tercera Chile, Razón Bol) and others best of a bad lot and just about acceptable (ABC Color Parag, Comercio Peru) but we're not after perfection here, just something that gets as close as possible to unbiased news and reporting. Here's the list:

Argentina: La Nacion
Bolivia: La Razón
Brazil: Folha de S. Paulo
Colombia: Semana
Chile: La Tercera
Ecuador: El Comercio (Ecuador)
Paraguay: ABC Color
Peru: El Comercio (Peru)
Uruguay: El Pais
Venezuela: Noticias24

This little list will move across to a separate links category as of tomorrow.

Why Southern Copper (SCCO) is a long-term hold

It's paid $10.54 in divis since the buy and hold started and will pay another juicy one soon thanks to the very good quarter it's just put in.

And for what it's worth*, it was bought way back then at just under $8 a share (split adjusted).

*not much

Nouriel Roubini brings us today's market lesson

And that lesson is: Economists are really bad at calling the market. Here's what he said back in November 2009:

Nov. 4 (Bloomberg) -- Nouriel Roubini, the economist who predicted the global economic crisis, said a forecast by investor Jim Rogers that gold will double to at least $2,000 an ounce is “utter nonsense.”
There is no inflation or “near-depression” to drive gold prices that high, Roubini said today at the Inside Commodities Conference in New York. If a severe depression came to pass, with investors buying canned goods and hiding out in log cabins, “maybe you want some gold in that scenario,” Roubini said.
“Maybe it will reach $1,100 or so but $1,500 or $2,000 is nonsense,” Roubini said. Gold rose to a record $1,098.50 today in New York on speculation that central banks and investors will purchase the metal to hedge against a declining dollar.

So Guruguy, how's that hope-y, change-y stuff workin' out for you?

Chart of the day is...

..the Bellhaven Copper & Gold (BHVv.) 12 month price chart.

Something to watch that's actually worth your time

After a quick passing comment left in IKN117 yesterday, reader 'CW' sent over this link and the only thing we can possibly do here is share it with the esteemed audience of IKN (that means you).

Horizon's 1993 biography of Richard Feynman "No Ordinary Genius" (the full thing, parts one and two included here) is an hour and a half of compelling viewing. I hope you enjoy it as much as I did...in fact I'm probably going to sit back now and watch it all again. Thanks CW, I owe you one.

Move over Jane Fonda, Hugo haz teh workout video

Hugo Chávez may be about to go bald on us all (chemotherapy and all that), but he's not planning on slowing down. Via a headsup from Russ Dallen over at BBO Financial, here's the LAHT on the Chávez workout video, in the shops now, phone now, satisfaction guaranteed or we'll refund your money in full, no quibbles.

CARACAS – Venezuelan state television showed Saturday new pictures of President Hugo Chavez wearing sports togs and doing exercises together with some of his officials while commenting on government issues.

The video footage, edited and set to music, shows an enthusiastic Chavez directing the physical exercises of his ministers, who lift hands and legs along with the president as he talks about the need for healthy routines.

Oh my stars, how I love South America. Anyway the report continues here

Gold

Let's say it again, just to make sure:

If 

you 

look 

very 

very 

closely 

you 

may 

be 

able 

to 

spot 

a 

trend

Chart of the day is...

...Colombian President Santos' popularity ratings:

These are six-monthly Apoyo numbers that go back into his days as Defence Minister and then to his time as a Candidate for the job, but the recent 71% is post honeymoon period, real deal. In other words, Colombians like their man and quite frankly I can't blame them.

OT: about that weekend video

I've taken several mails about the "fifty academics" video posted on site over the weekend and just to clear matters up a little, here's a mail (slightly brushed but 99.9% the same) I sent by way of reply to one of them (an old e-mail pal for whom I hold the greatest of respect, I hasten to add). You don't get to see what he wrote to me, but that's no problem.

Did i say i was an atheist? No, i said it was good brainfood.

As inferred in the text of the post, much of the time is taken up by the old "rationality" argument in different guises. This one has been batted back and forth between the two sides more times than can be mentioned in polite company and is, intellectually speaking, old hat (though fun to watch how it manifests itself in different people's brains). However, there were a couple of good and well constructed points made and i particularly liked the way the question of whether there is a "grand purpose" to it all was framed.

It made me think, and i like to think.

It made me think above all about social morality and whether religion is a necessary tool in society to keep things working and for us not to descend into anarchy (in its strictest sense) and chaos. It also made me think a helluva lot about my daughters. Finally, it made me revisit a lot of the texts and sayings attributed to Gautama Buddha (because the Bible's view is ingrained into this westerner, whether he likes it or not).

My best advice would be not to jump to conclusions about my religious leanings. I'm not going to force mine upon anyone (nor will i reveal my beliefs), equally i reject others forcing theirs on me.

The IKN Weekly, out now

IKN117 got out to subscribers eventually. And as you're asking, the answer is 15,600.

Message to subscribers

Yes, I know the Weekly is late this week. I've been going through another fun session of writer's block here this weekend (with hair pulled out by roots scattered on and around the keyboard by way of evidence) and it's still getting treatment here. It's going to take a while longer to get done, but it'll get to you late tonight at the very worst.

Money talks bullshit walks, debt ceiling edition

From Reuters (via twitter) eleven minutes ago at time of writing:

18:02 31Jul11 RTRS-S&P 500 STOCK INDEX FUTURES JUMP 15.5 POINTS AS MARKET OPENS

The paymasters have told their minions to stop the BS and vote something that won't cost them money. The end.

Update: Market Narrative leaves this link in the comments section to show how wonderful he really really is. And oh of course he's wonderful and to otherwise think is to badly know him.

Update 2: Just wondering to myself how long I can look at that update 1 without correcting the deliberate mistakes. Gawd, it's ugly. 


UPDATE 3: Then there's this:

x

Bayfield Resources (BYV.v) smearing and Brent Cook's rebuttal

After last week's spat between Bayfield (BYV.v) and Brent Cook, today we get to see the reply by Brent Cook to Bayfield Resources (BYV.v), via his weekly "Exploration Insights" letter. We're also allowed to re-print the piece in the public sphere, so here it is. The assistance of 'LV' appreciated on this.

Exploration Insights
by Brent Cook
www.explorationinsights.com

Issue No. 152
July 31, 2011

Normally Exploration Insights is exclusive to subscribers and we appreciate that you don’t cut and paste or forward the timely information herein. However, as soon will become clear, the Rant in today’s letter is for general distribution and you are welcome to send it along to anyone you think may be interested its subject (if you would prefer a .pdf send us an email).

The Rant

US Based Newsletter Writer Clarifies Bayfield Ventures’ Clarification of Misinformation Regarding Potentially Confusing Drill Information that Bayfield Clarified in a Previous Confusing Release as Mandated by BCSC

On Tuesday, July 26 a US based newsletter writer was asked during this BNN interview (Tuesday, 11:50 EST) to comment on Bayfield Ventures’ (BYV.TSX-V) potentially confusing drill results. Subsequent to his comments, Bayfield distributed this news release in which they stated that factual errors were made by said newsletter writer in the discussion.

Let’s get factual

In their June 30 news release, Bayfield Ventures reported that the British Columbia Securities Commission (BCSC) required BYV to “clarify” certain details of its technical disclosure of previously released drill results. The “potentially confusing” information in question relates to BYV’s reporting of long intervals of mineralized drilling results that were created by diluting a few, sporadic high grade intercepts with lengthy intervals of lower grade (and even some barren) intercepts. This equates to a mathematical smearing of the isolated high grade intervals throughout a larger volume of low and possibly sub-economic material.  By smearing gold grades, the character of the geologic occurrence is misrepresented and can be confusing and/or misleading to the general public who, on the whole, don’t have the tools or experience to recognize this mathematical misrepresentation. (We have examined this issue many times here at Exploration Insights using the free drill interval calculator.)

That was the gist of the BNN conversation.  BYV was not represented as the “poster child” of smearing; rather, their recent press releases and the restatement required by the BCSC merely made them a timely example for a respected daily business show. 

With respect to the BCSC mandated clarification-- this addresses five drill holes from four separate news releases dated September 8, 2010 to June 27, 2011. Specifically*:

• Sept 8, 2010 RR10-18: BYV reported 81 meters grading 5.08 g/t Au, between 488 to 569 meters drill depth; this was restated to 13 meters of high-grade contained in three separate intervals (see table below).

• Dec. 14, 2010 RR10-52: (My personal favorite, with erratum to the BNN discussion where I misstated 80 meters, rather than 58) BYV reported 58 meters grading 1.84 g/t Au between 394 to 452 meters drill depth; this was restated as 1.1 meter grading 89.96 g/t Au, at 402.4 meters depth.
• Feb. 16, 2011 RR11-1: BYV reported 116.6 meters grading 1.05 g/t Au between 509 meters to 626 meters drill depth; this was restated as 20.8 meters containing three, isolated, high-grade intercepts.
• June 27, 2011 RR11-70: BYV reported 43.8 meters grading 1.02 g/t Au between 41.00 to 84.80 meters depth; this was restated as two separate higher grade intervals totaling 10.4 meters.
• June 27, 2011 RR11-71: BYV reported 79.5 meters grading 8.66 g/t Au between 15.50 meters to 95 meters depth; this was restated as 25.5 meters grading 26.7 g/t. Both drill holes 70 and 71 are good drill intercepts, the significance of which is dependent upon pending results from nearby holes.
• Yet to be restated: RR11-14: 56.9 meters grading 0.62 g/t between 275 to 328.3; should be two separate intervals of about 3 meters each grading 6.75 and 2.14 g/t.

*Note that we are only considering gold assays, as some of the earlier releases did not include silver assays.

(Fig. 1- One-year BYV chart showing news release dates for drill results that were subsequently “clarified”, and the apparent market reaction to original news releases)

Summarizing:

1.    81 meters becomes 13 meters beginning at 488 meters drill depth;

2.    58 meters becomes 1.1 meter beginning at a drill depth of 402 meters;

3.    116 meters becomes 20.8 meters beginning at a drill depth of 509 meters;

4.    79.5 meters becomes 26.5 meters beginning at a drill depth of 38 meters;

5.    43.8 meters becomes 10.4 meters beginning at a drill depth of 41 meters.

On July 19, some of these restated results from the June 30^th clarification news release were posted to BYV’s website in a cross-section, as represented below (Fig. 2). The section actually appears to run slightly east of north, so the section may not be truly perpendicular to the strike of the feature; the true width may be somewhat less than drill width. I have edited the cross-section by including the approximate location of the long “mineralized” intervals as originally reported by Bayfield on the drill trace against the restated intervals where possible. This graphic visualization helps put some context to the restated mineralized intervals.

(Fig. 2- Burns Block Cross Section showing drill hole trace and mineralized intervals. The red bars represent the actual location of the mineralized intervals as restated in the June 30 news release. The length of the red bar is proportional to the grade. I added the green on the drill trace to represent the approximate drill interval the mineralization in red was smeared across in previous news releases. Note 50-meter scale on drill trace. So, does the green convey a different impression of the mineralization than the red?)

A key takeaway from the cross section is that, with the exception of mineralization intersected in RR-70 and 71, these high grade intersections are deep and, based upon the presently available information, would not be exploited via open pit mining. It is also very obvious that some of the “clarified” results are very narrow, high grade hits that were mathematically smeared over greater drill length —specifically RR-52—just as the BCSC noted.

The other topic discussed in the BNN segment relates to continuity of grade. In the cross section above, and in previous releases, BYV suggests that their drilling has identified a high grade gold shoot with a down plunge length of about 600 meters. Basically, BYV has connected the red bars on the drill holes above and are interpreting that these form a continuous mineralized body. The distance extrapolated between drill holes is up to about 100 meters – this is a big distance to extrapolate in deposits of this type. It will take considerably more infill drilling to prove continuity.

Bayfields’ location map suggests to me that there may be other drill holes that cross their section of choice, but that are not included; however, there is insufficient information to be certain, or to know why BYV selected the holes they used (the drill map is here for anyone interested). If drill hole data relevant to interpreting continuity are missing, one needs to ask why potentially useful data are omitted. Regardless, at this stage I am dubious about grade continuity of this projected shoot-- only time will tell.

There does, however, appear to be sufficient drilling immediately east and west of Bayfields’ section to establish or negate continuity along strike (Fig. 3). In some instances, gold ore bodies have continuity down plunge or dip which can be matched along strike. Basically, if an ore body is extensive or continuous in one direction it can be in the other as well; therefore, it is possible that we can use that on-strike data to guess at the down plunge continuity.

(Fig. 3- North Drill Fence map extracted from complete map, showing drill hole locations. Note the number of holes per location. Red are “high grade” holes, orange are drilled with assays complete, and yellow with assays pending. What is in the holes immediately adjacent to those selected for BYV’s cross section?)

The cross section in Figure 2 above is only a paper-thin two dimensional slice through the earth lined up along the holes BYV selected. Bayfield has drilled many dozens of holes along east west lines, usually with several holes from the same location. In order to evaluate the 600-meter long ore shoot BYV is postulating, we need to establish the east-west strike length of this zone. Although difficult to tell from the map, it appears drill stations are between 10 and 50 meters apart along the east-west lines—a good distance to establish grade and structural continuity.

I am afraid, however, that the drill data is too poorly organized and presented to permit any conclusion regarding grade continuity along strike and therefore the potential tonnes and grade of the proposed shoot, or continuity therein. Bayfield should present us with a series of north-south cross sections similar to Figure 2, indicating the thickness of the section (showing the distance holes are projected into the section), using all the drill holes with down-hole assays in order to prove BYV have discovered something of value. Many companies at this stage of outlining a possible resource do this on corebox.net or through their own websites. It’s basic exploration and disclosure practice in Canada.

When and if Bayfield does present the public with sufficient cross sections and maps to make an assessment of the grade and continuity of Burns Block and the postulated shoot, we are certain the US based newsletter writer will be happy to publicly review the data and, if need be, reconsider his current assessment of the company.

Are we clear now?

a most interesting video



Some of the arguments are based on the stock rationality argument (i.e. scientists and theologians talking past each other), but some are good brainfood indeed. Number 10 made me think.