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On October 21st 2014 Casey Research published its emergency alert report, in which we were told (and we quote)...
"Now is the time to take action. Not in the next few months or even in the next few weeks—Right now."
UPDATE: Gary over at Biiwii adds a comment:
"[W]hat IKN doesn’t fail to understand is that these headline calls make some people emotional and get them in search of a remedy for that emotion, which the headline maker just happens to have handy"
Dedicated to the brokerage analyst community:
It's International Tower Hill deja vu all over again.
UPDATE one hour before the close: Oh what weird and coincidental timing.
Looks like the mining industry hasn’t changed in, oh 3765 years. Apparently, the translated cuneiform says:
Tell Ea-nasir: Nanni sends the following message:When you came, you said to me as follows : "I will give Gimil-Sin (when he comes) fine quality copper ingots." You left then but you did not do what you promised me. You put ingots which were not good before my messenger (Sit-Sin) and said: "If you want to take them, take them; if you do not want to take them, go away!"What do you take me for, that you treat somebody like me with such contempt? I have sent as messengers gentlemen like ourselves to collect the bag with my money (deposited with you) but you have treated me with contempt by sending them back to me empty-handed several times, and that through enemy territory. Is there anyone among the merchants who trade with Telmun who has treated me in this way? You alone treat my messenger with contempt! On account of that one (trifling) mina of silver which I owe(?) you, you feel free to speak in such a way, while I have given to the palace on your behalf 1,080 pounds of copper, and umi-abum has likewise given 1,080 pounds of copper, apart from what we both have had written on a sealed tablet to be kept in the temple of Samas.How have you treated me for that copper? You have withheld my money bag from me in enemy territory; it is now up to you to restore (my money) to me in full.Take cognizance that (from now on) I will not accept here any copper from you that is not of fine quality. I shall (from now on) select and take the ingots individually in my own yard, and I shall exercise against you my right of rejection because you have treated me with contempt.
- There was some sort of emergency that got him to cut short his vacation with his daughter in Europe, hand over her charge to his ex-wife and bring him quickly back to Argentina in the days before his death.
- He was due to give evidence to support his accusations against the CFK government the day after his death, but his dossier had already been deposed and opened to authorities and judiciary (its contents are now being revealed, striptease-style, to the general public). As soon as it was available (three or four days before his death) there was immediate pushback from both pro-government and (relatively) neutral bodies who spotted false information and obvious contradictions in his version of events. One that's been widely reported is how Nisman claimed he had been given key evidence about supposed intelligence officers, but in fact (and in proven fact now) those people are not and have never been members of the intelligence services.
- So, let us imagine you have a less than perfect personal life. Let's also imagine you've been working under great pressure, in terms of workload and of psychological pressure from government enemies, for two years on a case you think shows major corruption in your current government (up to and including the President of your country). Let's imagine that things come to a head, you complete your work, you're satisfied with your job done, you hand in this national-level important case file...and then suddenly the whole thing blows up in your face because one of the most basic elements on which you based your argument is shown, with very little room for error, to be false. That, ladies and gentlemen, is years of work down the drain.
- And on top of that, in one day's time you have to go to the nation's Congress, stand up and defend your case and reiterate your accusations when you already know that the ground has been taken from under your feet and when the opponents ask you about the contradictions, you're going to flounder and fail in front of them. And your personal life is a mess.
On this link are pictures of four new pieces of work done by Banksy in Gaza. And this...
...ranks up with his best ever. Jeff Koons eat your heart out.
"The Letter Agreement and the Loan were reviewed and approved by special committees consisting of independent directors of both Great Panther and Cangold."
UPDATE: All the above was pre-open today, now it's post close and here's how Cangold (CLD.v) traded today:
- CLD.v is down 20% today on 1m+ volume.
- It's also down 33% from midday yesterday (ohhh, you mean somebody knew about the deal yesterday morning and deci...nah! Surely not!)
- And all while Great Panther (GPR.to) remained unchanged today.
Let that sink in: Big company makes a buyout offer for small company and as a result, small company drops 20%. If ever shareholders in Vancouver needed help from the BCSC for once, instead of just watching those toothless Canadian regulatory lackeys do nothing yet again while the retail investment community gets intercourse love up the anal tract from the crooks running juniors, it's today.
It's the first real day of trading in China after the New Year festivities and...
...our oriental cousins are buyers.
Nevada Copper (NCU.to) drills 96 feet of tunnel at 5.9 feet per dayVANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 26, 2015) - Nevada Copper Corp. (NCU.TO) ("Nevada Copper" or the "Company") is pleased to announce that it achieved a major milestone at its Pumpkin Hollow project by way of reaching the 1,900 foot main haulage level at its 24-foot diameter concrete-lined production sized shaft. continues here
Mining Company Faces Blackmail in Guerrero
Since November 13th last year a syndicate of transport workers has been blockading the entrances to the Campo Morado mine in Guerrero, property of the Belgian mining company Nyrstar.
25 February 2015 Nyrstar NV ("Nyrstar" or the "Company") today announced that mining and milling activities at its Campo Morado mine located in the Mexican state of Guerrero have been temporarily suspended as a precaution due to deteriorating security in the state.
PS: The other thing about the Burkina Faso only press release last Sunday. At the end it says...
Nous demandons respectueusement aux autorités et à toutes les parties prenantes de bien vouloir nous rencontrer dès que possible pour avancer le dialogue....which sure looks to me like there's been a big stoppage in the discussions recently. That's not the impression TGM.v has been giving to people outside of Burkina Faso.
Bottom line: I keep coming back to that initial reaction on seeing the news release numbers and before opening the Reg Fs: "could have been worse". It looks like the quarter when FR.to stops turning the corner and actually turned the corner instead of promising to without fully achieving it. The main concerns are 1) working cap position needs to improve as there's nothing big on the current liabilities side that can be booted forward and 2) production guidance for 2015 is a little less than I'd imagined (not mountains less, just a little), which means it'll need to mine what it mines efficiently.Notwithstanding gold's move under $1.2k this morning and what that does to the sector in general, the market shouldn't punish FR.to for these numbers, they're ok. If you're in, hold.
Whole thing here, but read that excerpt again and take a good sniff at those numbers.
The USA has a population of 319m people.
There were a total 28.3m of viewers of the three nightly news shows.
About a quarter of those, 7.15m people, are the 25-54 range.
Bottom line: Stop caring about the Brian Williamses and whether they're liars or not right now. It's all over.
Taylor says buy Allied Nevada2015-02-24 21:04 ET - In the News
Jay Taylor, in the Feb. 13, 2015, edition of Gold, Energy & Tech Stocks, says buy Allied Nevada Gold Corp., recently $1.21. Mr. Taylor said buy four times from Feb. 17, 2009, to June 21, 2011, at prices ranging from $6.16 to $31.61. He said sell on Sept. 20, 2011, at $44.85. Assuming a $1,000 investment for each buy, selling at $44.85 yielded a profit of $11,288. He said buy again on April 17, 2013, at $10.75 and on Jan. 16, 2014, at $4.60. A $1,000 investment for each of the two buys is now worth $375. Mr. Taylor recently talked to a major Allied Nevada shareholder who is "very well connected" with its goings-on. The shareholder claimed bafflement at the company's poor share performance given its ownership of one of the largest and most economic gold mines in Nevada, Hycroft. Mr. Taylor reckons that the malaise stems from the myth that Allied Nevada took on over $500-million in debt and got nothing in return. The company is undoubtedly indebted, says Mr. Taylor, but it used the money on projects that either have provided or will provide a substantial increase in production. "There is no way the household-name majors working in Nevada are not licking their chops over Allied Nevada," Mr. Taylor concludes. He has been buying.
Barcelona is the greatest footballing team in the world and Manuel Pellegrini needs to be fired from his job immediately
- First you get "Gold has to hold the important U$1,200/oz level" from the technical analysts.
- Then gold goes under U$1,200/oz, worrying the chartists.
- Then another self-appointed charting guru gives us "Critical area for gold U$1,198/oz" via Kitco.
- Then gold goes under $1,198/oz. Ditto.
- Then it spikes down a few dollars and that does it, they're shaken out of the metal by their chart readings and general neuroses.
- And once that's all done gold moves back up and over U$1,200/oz so that we normal people who buy when herds sell benefit from the TA dumbasses.
PS: Jabba the Hutt? You bet.
- The quarter just gone wasn’t great. It wasn’t bad, but production was on the light side and they’re not going to wow the market when the financials get printed on this one.
- Financially speaking, at current gold prices it’s basically a breakeven company. One quarter might be a small net loss, another a small net profit, but without a significant rise in the gold price it’s going to tread water.
- It’s small and ignored by the world.
- If gold drops substantially, it will start returning net losses that can eat into its cash position and threaten corporate stability.
- It’s cheap. At around $20m market cap you get a small producing gold miner that runs its operations with positive free cash flow.
- Its balance sheet position is strong and there’s no liquidity problems as long as the gold price doesn’t fall to bits on us.
- The recent purchase of the Creston Moly assets could become a latent winner. Come the time of a sector revival, assets such as these get revalued and SAM.to’s bargain basement purchase would look very smart indeed
- The fact that it can tread water at current gold prices means that it’s one you can bide your time with. The risk is gold going lower, but if gold moves higher (and hey, I say it will) it will move SAM.to into significant profits, no matter if a quarter comes in light. For example, $1,300/oz gold adds at least $0.5m to revenues.
- With this type of small producer, it only takes one quarter when mined mineralization grades go higher in a certain spot for a big production difference to happen. When that shows up so do profits and SAM.to has already shown it’s willing to share in net profits.
- Last year’s dividend payment could be repeated, for example at July 2015 year-end. SAM.to popped higher on the news in 2014 (from ~15.5c to ~22c, a 42% upmove). With just over 151m shares out, a 1c dividend would take a managable $1.5m from treasury and in the event of better gold prices, a 2c dividend would cost $3m.
...for a change. We're both long this tinycap now. Not only that but we're in at the same price, 12c.
He's got more than me, though
Right here. The bullets are...
- Silver equivalent production of 4.2 million ounces, representing a 24% increase compared Q4 2013.
- Silver production of 3.1 million ounces, representing a 12% increase compared to Q4 2013.
- All-in Sustaining costs of $14.43 per payable silver ounce, representing a significant 27% reduction compared to the prior quarter.
- Revenues after smelting and refining costs amounted to $72.5 million, representing a 23% increase compared to Q4 2013.
- Adjusted net earnings (non-GAAP) normalized for non-cash items was $4.2 million or $0.04 per share.
- Cash flow from operations of $21.1 million or $0.18 per share (non-GAAP).
- Non-cash impairment charge of $102.0 million related to certain non-current assets at specific mines resulting in a net loss of $64.6 million in Q4 2014.
$102m impairment...frankly it could have been worse.
- Working cap is tighter than I expected. They say they're addressing this, which is good because they darned well need to.
- The more I look at the $102m write down, the less it worries me. Overall book value is now more reasonable compared to operations.
- For the Q4 quarter's operations, revenues at $72.5m were slightly lighter than expected, cash flow was fine, but mine operating earnings was thinner than expected. The deprec/deplet/amort line item came in higher than my model (which means my model was stupid, not that FR was bad). Overall I'm ok with the Q4 operations because cash costs are obviously dropping (at last) and cash flow was strong enough.
- Costs guidance for 2015 is good, with AISC forecast between $13.96 and $15.48 per ounce. Then again, FR.to couldn't keep to its costs guidance in 2014. They said it'd be $15.87 to $16.69, it turned out to be $17.71.
Feb 23 (Reuters) - Over 2,000 unionised workers at the Lumwana copper mine owned by Barrick Gold Corp. downed tools on Monday demanding an explanation of their fate when the company closes the operation, a senior government official said.
There are birds here,so many birds hereis what I was trying to saywhen they said those birds were metaphorsfor what is trappedbetween buildingsand buildings. No.The birds are hereto root around for breadthe girl's hands tearand toss like confetti. No,I don't mean the bread is torn like cotton,I said confetti, and nonot the confettia tank can make of a building.I mean the confettia boy can't stop smiling aboutand no his smile isn't muchlike a skeleton at all. And nohis neighborhood is not like a war zone.I am trying to sayhis neighborhoodis as tattered and featheredas anything else,as shadow pierced by sunand light partedby shadow-dance as anything else,but they won't stop sayinghow lovely the ruins,how ruined the lovelychildren must be in that birdless city.