The regular Saturday slot: The last five days' worth of action in the gold bullion ETF (GLD), the silver bullion ETF (SLV), the miner ETF (GDX), the junior miner ETF (GDXJ) and the copper ETF (COPX).
Cassandra > Bono. That is all
UPDATE: To answer Utpal in the comments section here's how the ranking goes per capita, with country populations taken from the CIA World Factbook (a good source for these things). Please note that this per capita ranking is unlikely to be complete and only covers the ten countries above. For exmaple, I'd expect Uruguay (pop under 4m) to rank highly on a per capita basis.
|rank||country||rich per million|
Just a few more thoughts after yesterday's pre-bell post and the subsequent action we saw in the stock:
...12 months of Curis Resources (CUV.to):
IKN's previous thoughts on the standards of this company here.
"Managers failed to provide workers with the proper safety equipment, according to a report by the Mine Safety and Health Administration."
1) Analysts and market commentators that nowadays take ideas, themes and analysis found on this blog and The IKN Weekly, then re-package them and pretend them their own. This is particularly true of political risk analyses for mining companies in the LatAm region. It's good that you're slowly getting past the moronic levels of analysis but be careful about how much you claim as your own. And yes, I'm talking about you in particular on that, you know who you are and more importantly I know who you are, too. And I'm watching. And revenge will be nasty if you push it any further.
2) All those happy jolly individuals who read the blog, then copy script and paste any part of it that takes their fancy over at their favourite bullboard without giving any link-back or credit to the author. There are even some of you happy jolly people that try to claim this humble scribe's work as their own, which is sort of cherry and icing on the cake.
ATDHR-04 41 meters of 6.49% Cu, 17.57 g/t Au and 13.26 g/t Ag
ATDHR-01 41 meters of 6.54% Cu, 1.82 g/t Au and 8.22 g/t Ag
...they've found what they've been looking for. Let's play "Oooh Jethro, what's that rock worth?" in true Casey Research Throw-Glitter-In-Yer-Eyes bullshit style. By using $3.50/lb for copper. $1600/oz for gold and $28/oz for silver, then by using a flat 85% recovery on all metals, we get:
For hole #4
- Cu 143.1 lbs X $3.5 X 85% = $425.72
- Au 17.57g X (1600/31.1) X 85% = $768.38
- Ag 13.26g X (28/31.1) X 85% = $10.14
For hole #1
- Cu 144.2 lbs X $3.5 X 85% = $429
- Au 1.82g X (1600/31.1) X 85% = $79.59
- Ag 8.22g X (28/31.1) X 85% = $6.29
Disclosure: No position in Atico Mining. None in Salazar for that matter. Long FVI.
...oil, (the NYMEX WTI Sep futures contract to be exact), 60 minute charting that takes in last five days:
Word on the streets in Peru is that in the next few days, Ollanta Humala's Prime Minister and cabinet chief Oscar Valdés will "be resigned" and take with him a sizable number of the ministers appointed under him. The Valdés period has been marked mainly by a confrontational attitude towards dissenting groups in Peru (start with Conga, work through the others) so the big question is who gets Valdés job, not whether he'll stay on (cos he won't) because the choice Humala makes will set the tone for the months to come.
July 17th, Reuters:
LIMA, July 17 (Reuters) - President Ollanta Humala has begun sounding out replacements for his prime minister as part of a widely expected Cabinet shuffle designed to calm a wave of violent anti-mining protests in the world's No. 2 copper producer. Continues here
UPDATE: Hah! Shows what I know, AR.to pops 8% at the bell. Maybe cos Canadian thieves-in-suits (you might know them by their alternative moniker of "brokerages") are pumping hard. Still 25% from that March'12 ATH though, so perhaps momo can take it higher. Hell, I dunno and bakeapples in the comments section here seems to think San Antonio is a no-go...that'd change things if true.
...a year of zinc spot prices.
You could fall asleep watching this metal these days. A far better gauge of the world economy than copper, that's for sure.
Baja Mining (BAJ.to) 5 day chart:
IKN sez: "Yup".
IKN also sez "Be thankful we didn't feature the 12 month chart"
"He is an outstanding CEO who has led this company through a period of tremendous growth and transformation."
Now that's interesting. H/T to GMRobertson on Twitter
The commentary for this Monday.
Here's how we opened IKN167 yesterday. I call it op-ed, you might call it frothing-mouth rant.
The abject stupidity of market participants should never be underestimatedFor years (rather than days, weeks or months) your author has compiled an ever-growing list of complaints about the way in which Canadian regulatory bodies, specifically in today’s case the BCSC, generally fail to protect the investment community. The beef du jour (or maybe ‘boeuf of the day?) are the issues arising out of the Barkerville Gold Mines (BGM.v) situation that ratcheted up a couple of notches on Thursday morning when the company announced (1) that the BCSC had been looking into the company’s recent news release on the now rather famous 43-101 technical report that put Cow Mountain at 10.6m oz gold (see IKN reports passim and a thousand other places). The BCSC’s role in this saga can be questioned on many levels, not least of which the way in which BGM was halted the morning June 28th and then was allowed to resume trading after the release of the “we got 10.6m oz gold” NR the next day. The simple question is why was the halt lifted? The BCSC was in its right to have insisted BGM remain halted until it completed a review there and then, but preferred to allow the stock to trade, become subject to a massive pump, a nasty drop and high volume, extremely lucrative (for somebody) price movements.So yet again, the BCSC looks woefully inept and incapable of fulfilling its brief of protecting the investment public in British Columbia (and Canada and beyond). However, its ineptitude pales in comparison to the dumb cluck trading action in BGM late last week. This is the five day chart for BGM and we see the drop at the bell on Thursday, but we can also clearly see the action on Friday when BGM saw solid buying action all day. This action can only be proscribed to retail investors “seeing an opportunity” and “buying into a story” and it beggars belief. There’s a big pump going on around BGM, on that score there’s is little room for debate, and the fact that the pump can still work well after a belated BCSC investigation, after a NR of the type seen on Thursday and after the world has been clearly warned by the company itself (under obvious legal obligation to do so, else face the consequences) is testament to the abject stupidity of retail market participants in the junior sector.The Barkerville case shows the need for Canadian Securities Commissions that can do far more than the current batch of inept bodies working under rules and laws long past their sell-by dates. If not, the quantity of scumbags and thieves that pervade the junior mining community and prey on the stupidity of its investment community will only multiply. But in the meantime, it’s worth noting that just a few ounces of common sense and a basic ability in critical thinking puts you a nautical mile ahead of many of your investor peers, something you can take advantage of in true Darwinian style.
The most interesting part about the Endeavour Silver (EDR.to) (EXK) news release today isn't about Endeavour Silver
Proven & Probable (P+P) Silver: 18.5m ozProven & Probable (P+P) Gold: 322,000 ozMeasured & Indicated (M+I) Silver: 8.3m ozMeasured & Indicated (M+I) Gold: 269,000 ozInferred Silver: 26.7m ozInferred Gold: 548,000 ozTotal P+P+M+I+I Silver: 53.5m ozTotal P+P+M+I+I Gold: 1,139,000 oz
Proven & Probable (P+P) Silver: 7.04m ozProven & Probable (P+P) Gold: 112,100 ozMeasured & Indicated (M+I) Silver: 4.43m ozMeasured & Indicated (M+I) Gold: 76,500 ozInferred Silver: 11.41m ozInferred Gold: 220,000 ozTotal P+P+M+I+I Silver: 22.88m ozTotal P+P+M+I+I Gold: 408,600oz
...natgas, long-term with annotations.
Tom Hagen: Maybe I could help.
Michael: You're out, Tom.
*oops, ty droog