...this one, "Marin Katusa laid bare".
And to cut a long story short, I'm pleased about that.
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...this one, "Marin Katusa laid bare".
At March 31, 2015, the Company had cash of $6.5 million and a working capital deficiency of $35.6 million. Following completion of the construction of the Red Chris mine, commissioning of the mill commenced and the first concentrate was produced in February 2015. However, due to production slowdowns related to temporarily reduced water supply, it will take additional time for the mine to consistently achieve design levels of throughput and production. As a result, the Company will not be able to meet the June 1, 2015 date for completion under the Senior Credit Facility. The Company is in discussions with its lenders to extend the date for it to achieve completion. However, without a waiver or extension from its lenders the Company will be in default under the Senior Credit Facility effective June 1, 2015.
Hmmm...default on Senior Credit. That good or bad, y'say?
This has to be seen:
Thanks to A.Reader for the headsup. Link here
The NR starts like this:
The securities regulators of British Columbia, Saskatchewan, Manitoba, Québec, New Brunswick and Nova Scotia (the “participating jurisdictions”) today announced they have implemented, or expect to implement, registration and prospectus exemptions that will allow start-ups and early stage companies to raise capital through crowdfunding in these jurisdictions, subject to certain conditions.Full release here
Valuation and RisksIn valuing Belo Sun, we use forward curve pricing and discounted cash flow analysisdiscounted at a project WACC of 8.6%. In our Base Case, on a fully funded basis, we see814M shares outstanding, generating a project NAVPS of $0.31 and a corporate NAVPSof $0.76. Applying a 1.0x P/NAV multiple generates a target NAVPS of $0.76 supportinga rounded target price of C$0.80, increased from $0.70. The 264% projected return
continues to support a SPECULATIVE BUY rating. We highlight Belo Sun’s reliance oncapital markets and the ability to permit Volta Grande as key risks to our valuation andtarget.
PS: And thank God for jim willie.
The BCSC ruling right here. How it begins here:
May 14, 2015Vancouver – A British Columbia Securities Commission (BCSC) panel has dismissed fraud allegations against Jon Richard Carnes, the man who ran the “Alfred Little” financial blog. The panel also dismissed staff’s application for an order in the public interest.
"You are literally reading this before a single share has been traded; FF trading on the TSX-Venture exchange will have its first day of trading today. I honestly think early investors may be looking at a double or triple in the next few weeks!"
"...the Company has engaged Future Money Trends, LLC ("FMT") to provide certain financial publishing and digital marketing services. In exchange for providing these services, FMT will receive an initial fee of US$30,000 and a monthly fee of US$7,000. The agreement with FMT is for a one year term and the Company has the right to cancel the agreement at any time. The Company has also agreed to issue FMT 100,000 incentive stock options in the fourth month of the term of the agreement."So, let's see how things are getting on for this wonderful PR relationship:
From 50c to 37c in six weeks, another win for freedom over fiat currency.
Humbug, grrr etc. Okay, rant over. Have a pleasant day.
TORONTO, ONTARIO--(Marketwired - May 14, 2015) - Rubicon Minerals Corporation (RMX.TO)(NYSE MKT:RBY) ("Rubicon" or the "Company") has entered into a financing agreement with CPPIB Credit Investments Inc. ("CPPIB"), a wholly-owned subsidiary of Canada Pension Plan Investment Board, for a US$50 million secured loan facility (the "Loan Facility"). The proceeds from the Loan Facility will be used for the development of the Phoenix Gold Project (the "Project") and to provide adequate working capital and flexibility to optimize the Project during the ramp-up period to potential commercial production continues here.
Less than a year ago, founders were paid in shares worth 3.3c
In January, February and April this year, seed placements and suchlike were run on Bitgold (XAU.v) with the shares priced at 90c.
Today the stock IPO'd and closed at $2.70.
As of this evening, Bitgold (XAU.v) has a market cap of CAD$98.87m.
On Sunday (and I'm still not quite sure why) IKN asked the following question:
WHEN DID U2 START TO COMPLETELY SUCK?
- 27 of you (13%) said that they still don't suck. You're wrong. They do.
- 26 of you said after the first tranche of records (Boy/War/UF). In fact they didn't suck to begin with, so you're all wrong too.
- The most popular answer was "After Joshua Tree" and I'd agree they sucked a bit then, but some of tracks were still good and they were doing original things with the music, even if the lyrics grate like nails down a blackboard. So, 37% of you are also wrong.
- Meanwhile, 12% plumped for the post Zoo Tour period. Sorry people, they sucked way before then, you're wrong.
- Which leaves us with "After Achtung Baby" and 47 of you (well, 46 and me) all chose the right answer. You all rule. Because it's my blog, get your own if you don't like it. We win. Ha.
UPDATED: Looking for a cheap vacation destination this year? Try Venezuela (and take US Dollar bills with you)
UPDATE: Just how cheap is that? Here's a website with up to date prices for supermarket goods in Venezuela which gives the prices of various typical products in US Dollar terms at the official rate of 6.3 VEF to 1 USD. To the right in red I've done the calcs on the same things but at the 300-to-1 black market prices:
Even if they've doubled since the March 2015 date of record on that website, they're cheap.
RENO, NV and VANCOUVER , May 13, 2015 /CNW/ - Polaris Infrastructure Inc. (formerly Ram Power, Corp.) (RPG.TO) (the "Company" or "Polaris") announced today that, in accordance with the terms of the private placement agreement dated April 20, 2015 between the Company and Goodwood Inc., the Company has changed its name from "Ram Power, Corp." to "Polaris Infrastructure Inc.". A change in the stock symbol for the Company's common shares trading on the Toronto Stock Exchange, from "RPG" to "PIF", is expected to become effective on the morning of Tuesday May 19, 2015 .
So the name is about to disappear, along with the value of any share certs bought before 2015.
PS: Also potentially interesting the ECI website "is currently being updated".
*big swinging dicks
In May 2015, an increase in the base salary (for inflation) was granted to certain NEOs. Mr. Wodzicki’s base salary was increased from $336,600 to $354,000, by approximately 5.1%, Mr. Carmichael’s base salary was increased from $234,600 to 242,000, by approximately 3.1%, and Mr. Beck’s base salary was increased from $180,000 to $186,000, by approximately 3.1% Wojtek Wodzicki is the President and CEO Robert Carmichael is the VP Exploration James Beck is the Director of Corporate Development And Allied Nevada is the company that filed for bankruptcy in March 2015
UPDATE next day. OK, enormous brain fart idiot post has now had lines put through it. I will explain how stupid I am by stating that you should never, ever have two Management Information Circulars open at the same time. And if you do, you should never read them late at night when you've been to the dentist, your brain is semi-frazzled and you've taken heavy duty painkillers.
In other words, I managed to confuse the contents of the MICs of NGEx and ANV. The above people work at NGEx and have nothing to do with ANV.
I thank the (so far four) readers that have mailed me about the stupid mistake I made. The explanation is above, but it's not an excuse. I was just plain wrong.
PS: We don't delete dumbo posts, we leave them up. Good for the ego work.
The NR just out starts this way:
TORONTO, ONTARIO--(Marketwired - May 12, 2015) - COASTAL GOLD CORP. (TSX VENTURE:COD)(FRANKFURT:CY41) ("Coastal Gold" or the "Corporation") announces that it has accepted an increased offer (the "Revised FMF Offer") to acquire all of the outstanding common shares of Coastal Gold (the "Coastal Gold Common Shares") from First Mining Finance Corp. ("FMF") by way of a plan of arrangement under the Business Corporations Act (Ontario) (the "FMF Transaction"). In connection with the acceptance of the Revised FMF Offer, the Corporation entered into a new arrangement agreement with FMF dated May 11, 2015 (the "Arrangement Agreement"). Immediately prior to the entering into of the Arrangement Agreement, the Corporation terminated the arrangement agreement dated March 1, 2015 that was entered into with Sulliden Mining Capital Inc. ("Sulliden") and will make a termination payment of $250,000 to Sulliden.
Under the terms of the Revised FMF Offer, FMF will acquire each outstanding Coastal Gold Common Share for 0.1625 of a FMF common share (the "Exchange Ratio"). The Exchange Ratio represents $0.065 per Coastal Gold Common Share, based on FMF's 30-trading day volume weighted average price ("VWAP") of $0.40. Based on the Revised FMF Offer, the implied transaction value is approximately $13.5 million, including the assumption of $2.5 million of Coastal Gold costs and debt. Upon completion of the FMF Transaction, Coastal Gold will be a wholly-owned subsidiary of FMF. The directors of each company have unanimously approved the FMF Transaction.Whole thing here
UPDATE: And good morning to the sycophants at CEO.ca and their illustrious chief ass-licker Tommy Humphreys, a person who is very much part of the problem, not the solution.
IKN313 has just been sent to subscribers. Where there's mux there's brass.