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Our regular Saturday slot of 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).
"Peru: Conga suddenly out of national headlinesIn a country such as Peru, it’s what’s not being delivered to your TV screens in the form of news that can be as interesting as what is and in the last two weeks, the amount of polemic (false or otherwise) and headlines made by the Conga project and its protests has dropped very significantly. This sudden drop in newsworthiness seems to be part of the plan of the government to try and reduce the importance of the issue in the public eye and coincides (though it’s hardly a coincidence) with utterances of the new cabinet chief Juan Jiménez when he took the job that Conga shouldn’t be an obsession. It may be a case of media bosses and editors getting an informal phone call, it may be that there’s less actually happening around the Conga project, but it is significant that your author had to search for the latest news stories of the massed protests in the town of Bambamarca (11) with 100% adherence to the protests and marches, schools and shops closed etc, then vows of local ‘Ronderos’ (rural activist groups) to maintain a permanent 24/7 vigilante party (12) made up of 1,000 people at the threatened lakes for signs of construction activity. What we have heard instead from the media are the news stories of development and growth in the mining industry in other places, such as Cerro Verde (Arequipa) Toromocho (Lima/Junin), Quellaveco (Moquegua) and others, all quite the charm offensive in fact and all indicative of a government that has decided to set the agenda instead of reacting to somebody else’s...."
A chart that does not say win. Is there another way of judging this?
The coolest person EVER in music?
Him: Bob Marley
Me: Eddie Cochran
The coolest person EVER in politics?
Me: Ernesto El Che Guevara
The coolest person EVER in sport?
Him: George Best
Me: Ayrton Senna
The coolest person EVER in art?
Him: Da Vinci
The coolest person EVER in cinema?
Him: Sean Connery
Me: David Lynch
The coolest person EVER in business?
Him: Alan Sugar
Me: Richard Branson
The coolest person EVER in literature?
Me: Jack Kerouac
UPDATE: Oh dear, what have I started? Plenty of suggestion (mail and twitter), but one that wins over the above comes from reader J, who points out that Miles Davis invented cool and the rest are just poseurs. He has a point.
Right here. Have fun.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2012) - Kenai Resources Ltd. (TSX VENTURE:KAI) ("Kenai") retracts the portion of its October 23rd, 2012 News Release content wherein the Company stated, "With a grant of a trial mining concession, we plan to recover an initial 58,000 ounces of gold over an 18 month period." The Company cautions that it "has not completed a feasibility study to demonstrate that this proposed operation would be economically viable, or that the proposed time frame for such production is reasonable."About Kenai Resources Ltd.
And this is what it means:
...and GG hit 61c in 3q12, not bad. Compare that to the two year share price chart if you like:
UPDATE: GG up 5+% in early trading
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2012) - Hana Mining Ltd. (the "Company" or "Hana") (TSX VENTURE:HMG)(FRANKFURT:4LH)(BOTSWANA:HANA) and Cupric Canyon Capital LP ("Cupric") today jointly announced that they have entered into a definitive agreement (the "Arrangement Agreement") pursuant to which Cupric has agreed to acquire all of the issued and outstanding common shares of Hana ("Hana Shares") (other than the Hana Shares it currently owns) by way of a statutory Plan of Arrangement (the "Arrangement") under the Business Corporations Act (British Columbia). The management of Cupric is comprised of experienced mining professionals in the copper industry specializing in exploration, development, and operations, and Cupric is supported by continues here
Who are the buyers? These people are the buyers. All PD people, which means they know their copper.
High Desert Gold (HDG.v) provides a lesson to all geologists that head up exploration stage junior mining companies. And that lesson is...
Are we clear?
News today from The European Southern Observatory, located in Chile:
Using a whopping nine-gigapixel image from the VISTA infrared survey telescope at ESO’s Paranal Observatory, an international team of astronomers has created a catalogue of more than 84 million stars in the central parts of the Milky Way. This gigantic dataset contains more than ten times more stars than previous studies and is a major step forward for the understanding of our home galaxy. The image gives viewers an incredible, zoomable view of the central part of our galaxy. Continues hereAnd click through, because ESO offers up some wonderful enlargeable photos which are food for deep thought.
UPDATE: Reader DT writes in with:
What the regulators in Canada did is abysmal. They allowed a company who had a primary listing in the US and which was suspended for trading in its primary listing market continue to trade in their secondary market. Meanwhile US investors can't sell shares on the grey sheets but Canadians with their tiny float are artificially trading in the shares.
Ismael Solorio Urrutia, the leader of the agrarian El Barzon movement (perhaps best translated as “the dirt farmers”) and his wife, Manuela Martha Solís Contreras, were murdered Monday afternoon on the highway outside Ciudad Cuauhtémoc, Chihuahua.
Solorio had met with Chihuahua officials last week to complain about threats against him, his family and members of El Barzon by employees of the Cascabel mine in Ejido Benito Juarez (San Buenaventura Municipio*). The mine is owned by the Canadian firm Mag Silver. Both Solorio and his son, Eric, were physically attacked by mining company employees on 13 October.
...the country risk of five LatAm nations, plus regional average, as per October 18th 2012:
A chart of Copper Fox (CUU.v):
"Men have forgotten this truth," said the fox. "But you must not forget it. You become responsible, forever, for what you have tamed."
*Les hommes ont oublié cette vérité, dit le renard. Mais tu ne dois pas l’oublier. Tu deviens responsable pour toujours de ce que tu as apprivoisé
...the gold/silver ratio, year to date:
It's a-going back up! And we certainly hope that the market apologizes to Eric Sprott for daring to disagree with him.
"This book is the culmination of these seven years of study, bordering on obsession. Just as I saw the financial crash of 2008 coming, I now see another one, even more calamitous, headed our way; only this one has serious political ramifications as well. But now, as then, not one high-profile politician, economist or journalist seems to "get it" - because not one of them have correctly identified the cause of our problems.
"I had never thought, before, about the nature of money. I never realised that there is a direct link between what we use as money and liberty, honesty and efficiency. It is in money – the blood of an economy – that our salvation lies.
"Support this book, and I’ll explain all"