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2/13/15

Yamana Gold (AUY) (YRI.to) thinks Argentina is improving as a jurisdiction

Ah wuz shocked, shocked ah wuz to hear Peter Marrone say that Argentina is quickly turning into the cat's meow of a place to do mining business. In "Argentina's Mining Landscape Improving, Cerro Morro A Go – Yamana CEO" at Kitco today we get the quote...

“You’ve heard me say before that I think Argentina has an improving socio-economic and geopolitical state, certainly from a mining company’s perspective,” 
...along with the news that the company has green-lighted Cerro Moro down in Santa Cruz (part of the portfolio since they bought out Extorre).

Hey, I wonder if owning Gualcamayo, 12.5% of Agua Rica and having your cash stuck in-country with severe restrictions on remittances had anything to do with the decision to hit the capex button, Marrone? Hey, I wonder if having all that real estate and asset value sunk into Argentina kinda nudges you towards saying nice things...just in case. Hey, how's that Suyai thing coming along down there Peter?

And we've done this before but it's worth making the point again so.... In other news The Gold Marketing Board's latest market analysis points to higher gold prices in the near future and considers that everyone should have 5% of their net worth in gold. A spokesperson for Apple (AAPL) told assembled reporters that she prefers Apple computing products to any other company's computing products. Papa John, founder of Papa John's Pizza, let slip that his preferred pizza brand is Papa John's. Oral-B and Colgate got together in a joint press conference to tell people that it's a smart idea to change their toothbrush every three months.  The Optician's Society of America advises all citizens to get a sight test every 12 months. The peanut marketing board announces new scientific research that shows extra nutritional benefits of eating peanuts. Sarah Lee, world famous chocolate cake manufacturer, has also revealed that eating chocolate cake is good for you. And the Bitcoin appreciation society confidently predicted that Bitcoins would soon trade at $2,000 each.