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Here's the first episode:
John Peel's favourite song. John Peel had great taste.
- Because it made a gross profit of $6m if you don't include depreciation.
- Because no miner ever has a mine that depreciates.
- Because you just mine its rock and when you come back to the same spot the next day the rock has magically re-grown.
- That's a plain fact.
- Sales $22.82m
- Gross profit $2.779m
- Operating LOSS $2.531m
- Net LOSS $4.383m
UPDATE: An anal yst friend writes in:
- I don't want a big drop, that's a sign of weak hands bailing on a flip.
- I don't want a small drop on low volumes, it's inconclusive.
- I don't even want to see a stock rise, because it means it's out of synch with the market and probably a backwater stock or maybe a pump job (unless there's some specific company news that's out).
...and rightly so. Enjoy your Thursday.
...has just been sent to subscribers, 10pm local time on Wednesday evening.
You'll hear all about it in the next 24 hours, so get a video in first:
UPDATE: This post is part one of a three part series.
"And how do you give to the poor?"
"It trickles down."
Ty GS for the headsup
“I have seen that it is not man who is impotent in the struggle against evil, but the power of evil that is impotent in the struggle against man. The powerlessness of kindness, of senseless kindness, is the secret of its immortality. It can never by conquered. The more stupid, the more senseless, the more helpless it may seem, the vaster it is. Evil is impotent before it. The prophets, religious teachers, reformers, social and political leaders are impotent before it. This dumb, blind love is man’s meaning. Human history is not the battle of good struggling to overcome evil. It is a battle fought by a great evil, struggling to crush a small kernel of human kindness. But if what is human in human beings has not been destroyed even now, then evil will never conquer.”
Right on the button:
"...he’s the perfect American, where no one makes a mistake and bluster is everything, and you wonder why our nation is in trouble…no one can learn anything, no one can adjust their opinion, no one can say they’re wrong."
"Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof."
What, something might be the matter here you say?
Sorry, how long before Pumpkin Hollow's free cash flow positive at sub-$2.50/lb copper, you say? Oh...errr...well...detail...
A devaluation of this sort is designed to improve the domestic economy by stimulating exports, lowering domestic costs of production relative to other sources, and to inhibit imports by raising their relative prices.
In other words, China clearly signaled that the US dollar, to which they were matching their own currency, is overvalued relative to the state of the global economy, and especially their own.
China is 'the canary in the coal mine' for the global economy, a major source of labor and supply. Their own economy is sick because demand from overseas is down.
And why is demand lower? Because multinational corporations and the banking system have been financializing nearly everything to increase corporate profits and the wealth of a very few, pretty much at the expense of everyone else.
So if the people do not have the money to buy, and cannot keep increasing their private debt to service consumption because of the predatory lending and fees in the system, guess what happens to aggregate demand?
The problem was not paper money per se, but the concentration of power and wealth which the abusive use of the monetary power had granted to a few powerful individuals and institutions.
Why the Black Box“I’m just comparing numbers and have quite a bit of experience, reading FS/PFS etc. since a few years, but sure I have to trust the official numbers and I know how many will fail / are already failing; it’s for sure a black box in a few parts until they really reach production, hopefully on time and on budget.”The preceding quote from a recent conversation with an experienced industry investor stuck in my mind. He asked my opinion of a single-project company with an underground gold mine project in South America.
I took a quick look at the project’s feasibility study (FS) and found major problems. I suggested he should dig a bit deeper here and there; do some benchmarking, and consider the unrealistic construction schedule. He made the statement quoted above and went forward happy with his investment.
What our friend described as a “Black Box” is a series of engineering studies that span the gulf between discovery of a mineral deposit and a profitable mine.
Done correctly, the studies present an accurate picture of the economic potential for a mineral deposit. Done incorrectly, the studies might portray a hopeless deposit as a great bonanza, or disguise a great mine as a lost cause.
This blog is your key to the Black Box. I’ll post tools, information and opinions to help investors look past the lipstick on the pig, or to find the diamond in the rough. Pardon my clichés, I can’t help it.
- Miners protesting? Check
- Main road blocked because only way of attracting attention to cause? Check
- Police called in? Check
- Police use heavy-handed and violent tactics to confront strikers? Check
- Dozens of injuries? Check
- One death already confirmed? Check
- Protests continue? Check
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This week the normal IKN Weekly goes out tomorrow Monday evening.
End of notice.