UPDATE: A friend writes in to highlight his fave Novalima video, 'Coba Guarango'. As your author was debating between Machete and Coba Guarango before choosing, let's just go the whole hog stick it here as well....killer beat to this one...
....and you're bound to love them both.
Whatever makes you think that the management of Great Panther Silver (GPR.to) (GPL) is a bunch of self-serving bullshitters, Otto?
Ohhhh, just a hunch of mine, dude.
"The addition of new production areas from the increased development in the first two quarters, together with better grade control are anticipated to lead to increased mine output and higher grades in the second half of 2011. The recent drop in ore grades at both operations is being addressed as the cost per ounce at both mines is sensitive to grade."
"To get back to the warning that I received. You may take it with however many grains of salt that you wish. That the brown acid that is circulating around us isn't too good. It is suggested that you stay away from that. Of course it's your own trip. So be my guest, but please be advised that there is a warning on that one, ok?"
...gold (GLD) versus silver (SLV) versus miners (GDX) versus juniors (GDXJ) these last five days:
Fairly even performances, all told.
The following was deposited in this humble scribe's mailbox today:
Goodbye from the FT Tilt TeamDear Readers:
This isn't quite what we thought our next dispatch would consist of, but here it is: the FT has decided to close FT Tilt, effective immediately.
To our subscribers - Ranjan Roy will be getting in touch to ensure you get a full refund. Please look out for emails from him in the coming days. We're sorry if it takes a little while to process; we will be working to minimise any delays or inconvenience. If you have immediate questions, please email email@example.com.
To all our readers - thank you for your interest in our journalism. That’s all for now, and for good. You can still email us (for now) on sishmael (at) fttilt.com, rroy (at) fttilt.com and pmurphy (at) fttilt.com. And if you want to let the team know how much you've enjoyed their work, you can find all their email addresses on our contact page
"...the evidence of how paywalls don't work on the internet is plain here because in a different set-up, 3300 paying subscribers would be a good moneyspinner, but for a company under the auspices of FT it's 1) small beer and 2) extremely unlikely to cover the costs of running a service with a bunch of professional journalists running the show.
Market it how they want, but putting me back on a free subscription for a limited period is an attempt to prop up a failing business model"
UPDATE: Felix Salmon's FT Tilt obituary, right here
Question: Name a producing gold miner that has;
- a share price of 82c
- a market cap of just $70m
- a rapidly growing treasury and a working cap of $20.5m
- has just returned a quarterly net profit of $5.5m (earnings posted last night)
- that's a quarterly EPS net profit of 6c/share (yeah, that says quarterly)
- if you care to do some simple math, has a forward P/E ratio of 3.5X
- is ramping up production in this quarter
- plenty of mine life and exploration potential at its flagship
Answer: right here.
Metal Shortages Alert from Leading Geologists: Inexorable Demand for Consumer Goods Places Strain On Supply of Metals
ScienceDaily (Oct. 12, 2011) — Geologists are warning of shortages and bottlenecks of some metals due to an insatiable demand for consumer products.A meeting of leading geologists, reported in the journal Nature Geoscience, highlights the dangers in the inexorable surge in demand for metals.
Dr. Gawen Jenkin, of the Department of Geology, University of Leicester, is the lead convenor of the Fermor Meeting of the Geological Society of London which met to discuss this issue.
Dr Jenkin said: "Mobile phones contain copper, nickel, silver and zinc, aluminium, gold, lead, manganese, palladium, platinum and tin. More than a billion people will buy a mobile in a year -- so that's quite a lot of metal. And then there's the neodymium in your laptop, the iron in your car, the aluminium in that soft drinks can -- the list goes on...
"With ever-greater use of these metals, are we running out? That was one of the questions we addressed at our meeting. It is reassuring that there's no immediate danger of 'peak metal' as there's quite a lot in the ground, still -- but there will be shortages and bottlenecks of some metals like indium due to increased demand.
"That means that exploration for metal commodities is now a key skill. It's never been a better time to become an economic geologist, working with a mining company. It's one of the better-kept secrets of employment in a recession-hit world.
"And a key factor in turning young people away from the large mining companies -- their reputation for environmental unfriendliness -- is being turned around as they make ever-greater efforts to integrate with local communities for their mutual benefit."
...the IKN Sentiment Indicator, from the front page of Canadian Insider:
It's good to share, the better things in life should be shared.
The mail your author sent to Roger McConchie, lawyer representing Kaare Foy, the Chairman of Great Panther Silver (GPR.to) (GPL)
Just three things to mention at this point.
1) We wholly disagree with your false accusations and nothing is being changed on the blog.
2) As at August 21st 2011 we recommended Great Panther Silver (GPR.to) (GPL) as a buy on our subscription service with a target price of $4.50 set. We state clearly that the recommendation occurred long before your false accusations were made known. It wasn't at recent stock price lows, either. A copy of the report is available on request, but hey... feel free to alienate a long supporter of GPR.to and his client base by continuing with your baseless threats if you prefer.
3) Your client would greatly benefit from the advice offered in this segment of the Ronnie Johns show.
As Mr. Johns is a fellow Australian, it may help to ram home the point that going all soft about (wholly incorrectly) perceived SIWOTI is hardly the way to move forward in this 21st century world.
Have a pleasant weekend, sir.
And sadly, it was partly due to another operational snafu that we hadn't been told about before. Here are the charts for gold and silver production and, according to the AuEq number, production is a third down on the 2q11 figure overall. Gold is slightly down, silver is nastily down.
Here's a link to the NR and you now have one hour from when this post was written (07:30am local time) to make a call on the stock.....don't say you weren't informed earlybird, though (bows gracefully)
disclosure: No position right now, have been playing this stock quite nicely this year, though.
Firstly, let us conside Stan Bharti's opinion on asset values:
Secondly, let us consider the market's opinion on asset values in this five day chart:
Thirdly, let us consider a coffee-drinking GI's opinion of Stan Bharti's opinions:
The 12 month chart of AYX.to is its own commentary on this deal:
Press Release Source: B2Gold Corp. and Auryx Gold Corp. On Tuesday October 11, 2011, 8:20 amVANCOUVER, BRITISH COLUMBIA--(Marketwire -10/11/11)- B2Gold Corp. (TSX: BTO.TO - News)(OTCQX: BGLPF.PK - News)(PINK SHEETS: BGLPF) ("B2Gold") and Auryx Gold Corp. (TSX: AYX.TO - News)(NSX: AYX.TO - News) ("Auryx") are pleased to announce that they have signed a binding agreement (the "B2Gold Transaction") to combine the two companies at the agreed exchange ratio of 0.23 B2Gold shares plus a cash payment of $0.001, for each Auryx share held, which represents a purchase price of approximately C$0.88 per Auryx share and a premium of 78% using the 20 day volume weighted average share price of each respective company, and a 74% premium over the Auryx closing share price on October 7, 2011 based on the closing price for the B2Gold shares as of such date. Based on the 20 day volume weighted average share price of B2Gold of C$3.81 per share, the transaction was valued at a total equity value of approximately C$160 million based on the fully-diluted in-the-money shares outstanding of Auryx.
The combination of B2Gold and Auryx will result in a merged entity holding a 92% interest in the Otjikoto gold project in Namibia, Africa and a 100% interest in two additional exploration projects in Namibia. The Otjikoto gold project has forecast average annual production of over 100,000 ounces of gold over a ten year life of mine based on a Preliminary Economic Assessment released in September 2011 with significant exploration upside. B2Gold is well positioned to progress development at Otjikoto given its strong funding capacity and a management team with significant mine development and operating experience.
The Auryx Board of Directors has approved the B2Gold Transaction and unanimously recommended that Auryx shareholders vote in favour of the B2Gold Transaction. Further, Auryx officers, directors and shareholders holding approximately 7.6% of the outstanding shares of Auryx have entered into lock-up agreements with B2Gold, pursuant to which they will vote their shares in favour of the B2Gold Transaction. The B2Gold Board of Directors has also unanimously approved the B2Gold Transaction.
Clive Johnson, President and Chief Executive Officer of B2Gold, stated: "We are pleased at the prospect of this strategic acquisition. The Otjikoto project is a quality asset that can potentially contribute another 100,000 ounces of annual gold production to B2Gold's impressive production growth profile. Our team looks forward to working with Auryx's experienced team to CONTINUES HERE
Now I really have to get going to that dental appointment thingy, Catch you laterz
Right now the top story at Yahoo! Finance homepage:
On Tuesday October 11, 2011, 7:50 amBy Chuck Mikolajczak
NEW YORK (Reuters) - Stock index futures were lower on Tuesday after a strong rally in the prior session as investors awaited the results of a key vote by Slovakia on expanding the euro zone rescue fund. (continues here)
...the Gold/Silver ratio, year to date (again):
Here's the first part of this BNO report with details, click through for the rest:
TIMIKA, INDONESIA (BNO NEWS) -- At least seven people were shot on Monday when thousands of mine workers rallied and protested in the Indonesian province of Papua, officials said. One person has been killed.
Around 10,000 employees of Freeport-McMoran Copper & Gold Inc's Grasberg Mine, which is located near the Puncak Jaya mountain in Papua province, rallied in the city of Timika, demanding higher salaries and welfare benefits. According to reports, workers became angry after not being allowed to collect their personal belongings from their barracks.
During the massive protest, security forces opened fire against the crowds, killing 35-year-old Peter Ayamiseba at the Gorong-Gorong Bus Terminal in Timika. Papua Police Public Relations chief Commander Wachoyono said the fatal victim was employed at PT Sari Utama Food, which is a food supplier for the mining company.
Wachoyono also confirmed that a Mobile Brigade member was critically injured, ruling out rumors that one security personnel had died. At least six other protesters were also shot and transported to area hospitals for treatment, although their conditions were not immediately known.
The violent incident triggered further outrage and angry crowds burned three containers in the area, where tensions remain high. PT Freeport, however, has not responded to the incidents nor CONTINUES HERE
The time: Last weekend
The artist: Venezuelan rapper Rodbexa (who rocks, by the way)
The audience: Hugo Chávez and a few others and even under chemo Hugo gets rhythmic and boppy
It's kicking ass, actually.
The East Asia Minerals (EAS.v) scam: Why hasn't ex-CEO Mike Hawkins been called out by the industry?
UPDATE: For all those coming from the 'Mexico Mike' site, you need to know that you mentor, Mike Kachanovsky, is a frontrunning pumping scumbag idiot and needs to go fuck himself before he loses any more of your money.
*especially for the poor dude who 'fell' out the 'copter
(By the way, there's also Mexico vs Brazil tomorrow, but you bet on friendlies at your own peril).
- $10 on a Chile /Peru draw, price 13/5, total return envisaged: $36
- $10 on Peru to win, price 5/1, total return envisaged: $60
- $50 on Argentina to win, price 4/9, total return envisaged: $72.22
UPDATE Tuesday PM: And now you know why I don't do these things for a living. All bets lost and just $86 to take to the next round, mid-November. Humph.