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3/3/14

Those wonderful PDAC Monday junior NRs

The junior mining BS brigade hits top gear at around 7:30am EST on PDAC Monday morning, with all sorts of news release silliness for your general amusement. Here are a few so far:

Petaquilla Minerals (PTQ.to): "We were full of shit about February, but don't worry 'bout it, you can trust us".

Gold Standard Ventures (GSV.v) is forced into a BCSC retration NR this morning. Nice timing guys, enjoy all those people walking past your booth and chuckling to themselves now, wontcha?

Duluth Minerals (DM.to) took a really long, hard stare at its maps and suddenly noticed that there was a corner of one of them that they hadn't drilled which looks really prospective for PGMs and they just happened to notice it a couple of days before PDAC, too. And you thought Brent Cook was full of shit when he reco'd this one? Oh ye of little faith!

We'll be adding to this post I'd expect, so come on back later and don't be shy now.

UPDATE: More, by poplier demand:

Osisko's (OSK.to) Victor Bradley and Goldcorps' (GG) Chuck Jeannes got pissed together last night, it all ended up "YER MI BEST FOOKIN PAL!" "YOU ARE TOO...YER MI BEST FOOKIN PAL" and now OSK has dropped its dumbass litigation on GG.

Brent Cook kindly writes in to kindly inform that he called sell on Duluth back ni April 2013 after some drill program didn't work out. No word on whether he sold at a profit or a loss however, but we're sure he'll kindly make that one clear when he turns up on BNN's Market Call later this week.

Barisan (BG.v):, the same assholes you ripped off the world via East Asia Minerals a couple of years back, have started drilling their latest scam. Perfect fodder for PDAC mouthbreathers, so you can bet dollaz to donutz they'll have a couple of hot boothbabes to steer the CADPAT* brigade further into their web.

Duran Ventures (DRV.v) is halted "pending news"!! Ah, wonderful.

I've been asked to highlight an archetype PDAC junior bullshit NR, so the choice is now made and Selwyn Resources (SWN.v) is the lucky winner. Here's the link, here's the contents:
TORONTO, ONTARIO--(Marketwired - Mar 3, 2014) - Selwyn Resources Ltd. (TSX VENTURE:SWN) ("Selwyn" or the "Company") is pleased to provide a brief update on the Company's strategic intentions for 2014.
ScoZinc Project Update
In light of the recently improved fundamentals in the zinc-lead market, a more positive outlook for base metals generally, together with the benefit of a depreciating Canadian dollar, the Company is currently exploring options for financing the Company, with a view to restarting the ScoZinc operation in Nova Scotia, Canada.
The ScoZinc operation has all necessary environmental and industrial approvals and can be placed back into production in less than a year. A skilled workforce is available locally and Selwyn retains local and regional assets capable of extending the mine life.
Other Strategic Initiatives
In addition to actively considering options to refinance Selwyn, the Company continues to pursue other avenues to maximize the value of the ScoZinc Project, including, but not limited to, possible sale, joint venture or other transactions with third parties. Except as required by law, the Company does not intend to disclose developments with respect to the consideration of strategic alternatives until warranted. The Company cautions that there are no assurances that any strategic alternative will be undertaken or pursued.
Amazing how many words a company can use to say precisely and exactly fuck all, is it not?

Granite Creek (GCX.v) announces a 5m unit non-brokered private placement priced at 5c, which should be just about enough to cover the booth costs plus the hotel, bar bill and transport to/from Toronto. Or in company-speak, "operations and general working capital purposes".

UPDATE 2 post-close: Well blow me down, real news from Duran Ventures (DRV.v) after all. They're selling Aguila and a few other things for $7m cash to Mexico's Peñoles (via its Peru subsidiary). At 234.3m shares out as at the last set of financials that's 3c a share at face value, which is a theoretical win for anyone who bought last week but not much use for anyone else.



*just learned that one.