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Good news on the Braeval (BVL.to) hostages: Red Cross and Colombia President Santos confirms release of 5 of the 6
"To correct recent media reports, Belo Sun confirms that its licensing application has not been rejected."
"Overall I'm agnostic on the dude but will say that 1) can't knock success and 2) he's never disguised his objectives around junior miners; he's in the sector to make himself money, period. There's no hidden agenda with Rule."
...has just been sent to subscribers, mid-morning Friday. Just sayin'.
Telesur (the Venezuela State TV channel) says it's from February: With him his two daughters.
UPDATE: This one timestamps it for the world. Yup, that's recent.
UPDATE 2: The internet is fast fast fast. Check out this Tumblr "Chavez Reading Things".
Your humble scribe received the following and has also received permission to stick it here for more eyes. Please note, however, there are a few numbered annotations that we at IKN Nerve Centre™ have added, with comments at the end.
(1) Note to readers: This level of asslicking in a mail usually has the opposite effect to that intended, as I tend to close the mail without getting to the end. In this case the pretty chart a bit further down kept my interest just long enough.
(3) Can only be construed as a weak attempt at sarcasm
(4) Strong agreement. It's the balance that's out of kilter at the moment, not the lack of basic ingredients. The Faith/BS ratio is akin to the fear/greed equilibrium.
(7) Even after the almighty asswhuppin' the juniors have taken, IKN is rare amongst the market for providing unglossed alternative views to the constant shiny-happy-people message purveyed by sellside. See the IKN op-ed from yesterday (here) for more, but just because this humble corner of cyberspace is unafraid to tell you about some of the negatives in the junior mining world, don't fall into the trap of believing this is a media norm: It isn't, not by a long way, and until more serious voices than this pissant blog start shining the light more regularly on the cockroaches that inhabit this sector IKN will continue as per.
(9) If a project is economically unviable it doesn't get built. period. This is capitalism, not a charity. Just because you thought project X was economic and viable doesn't make it so. Therefore I'd suggest that you contact your market gods all by yourself and ask them to make you less of a dumbass next time around.
(10) Sorry, no buts allowed
(11) Hah! dumbass
...the price of gold per ounce over the last twelve months:
Clue: No offside from throw-ins
The US Embassy in Lima Peru, doing its bit to preserve Machu Picchu and Cusco from the insufferable hoards of gringo tourists
U.S. Embassy Lima, Peru
February 13, 2013
The U.S. Embassy warns U.S. citizens of a potential kidnapping threat in the Cusco area. The Embassy has received information that members of a criminal organization may be planning to kidnap U.S. citizen tourists in the Cusco and Machu Picchu area. Possible targets and methods are not known and the threat is credible at least through the end of February 2013. For the moment, personal travel by U.S. Embassy personnel to the Cusco region, including Machu Picchu, has been prohibited and official travel is severely restricted as a result of this threat.
"The Canadian is actually Gernot Wober, a Vancouver based geo. He was one of the Hunter Dickinson main guys for many years. Top notch geologist."
McEwen Mining (MUX) (MUX.to) has ill people (but you read IKN, so you knew that already didn't you?)
The three major differences between this:
"...about the nasty bug going around the San José mine in Argentina that MUX runs in JV with Hochschild (HOC.L) that's seen 58 workers go down with some mystery gastro illness, the whole mine evacuated of its 800 workers and the mine shut by unions on a flash strike action to ensure the well-being of those not already struck down. The cause of the mass illness hasn't been identified yet (Spanish language digest of the reports here) but with at least some reports ruling out food poisoning it's all a bit of a mystery."
TORONTO, ONTARIO--(Marketwire - Feb 12, 2013) - McEwen Mining Inc. (MUX)(MUX.TO) announces that operations at its 49% owned San José mine in Santa Cruz Province, Argentina were halted on Monday, February 4, 2013 due to seventy-six employees contracting gastroenteritis. There have been no further cases reported and all employees have recovered in full. It is anticipated that the mine will resume operation shortly. This disruption is not expected to have a material impact on McEwen Mining''s full-year production. The Company will provide a further update once operations resume.
1) IKN had 58, the final score was 76
2) IKN told you on the morning of Friday Feb 8th, MUX told you on late day Tuesday Feb 12th
UPDATE (pre-bell Weds): All better!
Here's the main introduction section from IKN197, out last Sunday:
UPDATE: Colombia's newspaper El Tiempo is now reporting that five people, three Colombians and two Peruvians, held by the ELN have been released, according to a communique from the ELN. Apparently the Canadian national who was kidnapped at the same time, Jernoc Wobert, is still being held by the terrorist group
UPDATE: Regular reader and all-round good egg Tweeties adds an interesting comment below:
Tweetie said...Also interesting is that they signed over the mine on the day they died:
ZAPOPAN, Mexico, Feb. 11, 2013 /PRNewswire/ -- Minera San Jorge S.A. de C.V. expresses it has acquired the Cinco Minas Mine property operations and other mining properties of Southridge Enterprises Inc. President of Minera San Jorge , Jaime Arturo Anaya Trejo , represented that acquisition was signatured on February 11, 2013, and that purchase details in planning for another writing of events. Here's the link to that
"Cut-off grades based on a gold price of US$1,700 per ounce, site operation costs of US$20.00 per tonne mined and assumes 100 percent mining and metallurgical recovery."
Moral of the story: Read the filings.
UPDATE post-bell. Seems to have been a little acceleration in selling today.
From the Endeavour Silver (EDR.to) (EXK) January 30th new release:
Price chart, January 30th to date.
Patience is a virtue, after all.
From the Osisko (OSK.to) 2011 YE report, which set guidance for 2012:
With the introduction of a new pre-crushing plant which is expected to be fully completed by the end of June 2012, the Company expects to produce between 610,000 and 670,000 ounces of gold at a cash cost ranging from $510/oz to $575/oz. The cash cost is expected to decrease substantially as the plant reaches full capacity, representing an increase of 65% compared to 2011. The non-cash charges are expected to be approximately $136 per ounce.From the Osisko end-2012 production report
Fourth quarter gold production totaled 101,544 ounces, bringing the gold production for the year to 388,478 ounces.
For the year to date the production cost are estimated at $907 per ounce.
News today from OSK:
Osisko Mining Corporation (the "Company" or "Osisko") (OSK.TO)(EWX.F) is proud to announce that Denis Cimon, Vice-President, Technical Services, has been awarded the 2013 Mineral Processor of the Year Award, by the Canadian Mineral Processors Society ("CMP"), one of the branches of the Canadian Institute of Mining, Metallurgy and Petroleum. continues here
IKN197 has just been sent to subscribers.
Vincent: And in Paris, you can buy beer at MacDonald's. And you know what they call a Quarter Pounder with Cheese in Paris?Jules: They don't call it a Quarter Pounder with Cheese?Vincent: No, they got the metric system there, they wouldn't know what the fuck a Quarter Pounder is.Jules: What'd they call it?Vincent: They call it Royale with Cheese.Jules: Royale with Cheese. What'd they call a Big Mac?Vincent: Big Mac's a Big Mac, but they call it Le Big Mac.Jules: Le big Mac! Ahhaha, what do they call a Whopper?Vincent: I dunno, I didn't go into a Burger King. But you know what they put on French fries in Holland instead of ketchup?Jules: What?Vincent: Mayonnaise.Jules: Goddamn!Vincent: I seen 'em do it man, they fuckin' drown 'em in it.
Ramon is back and Vangioni has one helluva left boot.