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10/29/16

Daniel Ameduri's stupidity

Daniel Ameduri is in way over his head. He decided to take the bribes from Frank Giustra and his cohorts such as Brian Paes-Braga, but for some unknown reason he thinks he's some sort of respected stock picker too. Now that the easy money has gone and Ameduri pumps a stock and the Giustra crew do what they're always going to do, i.e. dump massive amounts of virtually free paper into the new volume, the price either stalls or falls and our poor little chemically challenged friend Ameduri throws a tantrum.

More details. Recently (and along with that other full-scale Giustra sycophant and scumbag Tommy Humphreys at CEO.ca) Ameduri pumped Japan Gold (JG.v) to his flock of sheep in exchange for yet another one of those six figure bribery cheques. The stock rocketed that day (Sep 19th) from 60c to 85c as the idiots who believe this tripe piled on to the tune of over 3m shares, but the days that followed saw immediate large scale selling as Paes-Braga unloaded all his pennystocks. Here we are a month later and JG.v is at 42c.

Next example Winston Gold (WGC on the CSE exchange) which is basically the same story of Giustra's chequebook and an Ameduri pump but this time only a few days ago and instead of any upside move at all, WGC immediately got whacked as the Paes-Braga/Giustra shares fell out. According to IKN's very well placed source "Ameduri went ballistic" and after talking to Giustra, in a fit of childish pique told Giustra it was all over between them and called sell on his previous bullshit pump jobs for the man, First Mining Finance (FF.v) and Lithium One (LIX.v) (which are of course constant favourites over at the paid lackey Tommy Humphrey's site as well...oh what a coincidence) at his main vehicle of bullshit dissemination Future Money Trends, as well as calling sell on his other paid pump Japan Gold (JG.v) via his other site CrushTheStreet.

In other words, Ameduri gets paid millions of dollars to pump these worthless companies by people holding massive amounts of shares in them at virtual zero cost, but when the scumbags who pay him sell their shares Daniel Ameduri gets all angry and throws his toys out of the pram. This dude has a serious, serious mental issue to sort out, he somehow thinks that getting paid cash by the scum of the Vancouver earth and doing their dirty deeds doesn't automatically make him one of the scumbags as well. How old is this guy, 15?

10/28/16

You have to have a serious coke habit...

...to do what Daniel Ameduri has done to Frank Giustra and think it's not going to ruin your business reputation. Talk about dumbasses, this guy tops the lot. A paid pumper who thinks his clients owe him a favour! You can't make this shit up.

Update Saturday: And if you want to know more, here.

The Friday OT: Nina Simone; Just like a woman

One of the most distinctive voices in the history of recorded music sings the M.I.A. Nobel winner. Suggested by reader GP and a darned good suggestion it was, too.




Youtube here.

PS: This week's OT is not Pen Pineapple Apple Pen.

Adventures in the countryside

This weekend in The IKN Weekly issue 390: The story of the visit to here:



It was fun and educational.

The single must-see event at the 2016 New Orleans Investment Conference

One of the features of the New Orleans Investment Conference every year is when a bunch of junior mining companies make sales pitches to a randomly chosen mining expert, all done in front of an audience. As luck would have it, one of the experts up for the game in the 2016 New Orleans gig is Brent Cook and here are the companies he's been allotted:
  • Great Panther Silver (GPR.to) (GPL)
  • Sirios Resources (SOI.v)
  • Brazil Resources (BRI.v)
  • First Mining Finance (FF.v)
  • Balmoral Resources (BAR.to)
This could turn out to be the funniest mining event of the year. If you're going to the New Orleans show, do not miss this one.

10/27/16

Majors in earnings week: And the winner is...

...Barrick (ABX). So far.

Comparing the U$10Bn+ market cap majors to last weekend's closing prices:

  • The main precious metals miners' ETF (GDX) is down 2.92%
  • Goldcorp is down 3.35%
  • Newmont is down 4.02%
  • Franco Nevada is down 3.8%
  • Agnico Eagle is down 1.24%

But Barrick (ABX) is up by 0.59%. Hardly a king's ransom, but better than the rest.

Mr. Prospector

"Mr. Prospector (January 28, 1970 – June 1, 1999) was a Thoroughbred racehorse foaled in Kentucky whose descendants have dominated the United States Triple Crown of Thoroughbred Racing. He won half of his 14 career races."

"...Mr. Black founded the Peruvian registered Rio Alto S.A.C. In 2009 after successfully negotiating the acquisition of the La Arena Gold Project from Iamgold Corp, Rio Alto was acquired by Mexican Silver Mines and renamed Rio Alto Mining Limited. In 2014, Rio Alto also completed the successful acquisition of Sulliden Gold and the Shahuindo Gold Project for C$300M. Mr. Black, as President & CEO of Rio Alto Mining Limited and his experienced management team built Rio Alto from a C$12M company in 2009 to a C$1.2 billion company in 2015 at the time of the acquisition by Tahoe Resources Inc..."

10/26/16

Name that view

Answers on a postcard to the usual address.

10/25/16

Argentina: Chubut considers a referendum (from IKN389)

Here's one small section of this week's edition of The IKN Weekly, IKN389, out last Sunday:



Argentina: Chubut considers a referendum

It started with the head of the Chubut provincial cabinet of regional ministers, one Victor Cisterna, saying that the Chubut government was considering holding a referendum on mining activity in the province. It only took a day before English language headlines were confidently proclaiming “Chubut To Vote On Open Pit Mining” (15) and the whole message of “hey look, even Chubut is going to allow mining soon” was in the air, promoted by “Them What Know Stuff” wearing suits in Toronto and Vancouver.



These people are very stupid (about Argentina). Things to consider:



1)      Whether the referendum will happen at all. After all, Chubut’s government promised one for September 2015, that got neatly forgotten.

2)      When any referendum would happen. If they decide to call such a vote, the obvious date would be at the same time as the regional mid-term elections of late 2017 (in fact that date was mentioned by Señor Cisterna as the possible frame).

3)      Whether it would be a binding vote. It’s one thing to have a referendum, quite another to act on its results. And for me, even if the vote goes ahead and Yes wins this is a classic looking “bicycle” situation (as they say in Argentina), where the slang verb bicicletear is used to denote indefinite delaying tactics, kicking can down the road etc.

4)      What the result would be. As the Chubut constitution clearly states that there can only be one law for the whole province on any given matter, the people most interested in the Yes result, those in the Central Meseta region close to Pan American Silver’s (PAA.to) (PAAS) Navidad project, will have to convince those in the very anti-mining West Cordillera region and the ambivalent and higher populated East Atlantic coastal region that mining’s a good thing. And the central population is very sparse.

5)      Why governor Mario Das Neves would call such a vote. He’s known as anti-mining, he’s also under pressure from the national government to show willing for the national cause. This could be a situation in which he won’t call a referendum unless he feels confident the result will be a No.


People on the outside looking in seem to be convinced that news of a referendum, even a possible referendum, in Chubut is a positive development for the mining industry of Argentina and for the Navidad project (even Yamana’s Suyai at a pinch). They’re wrong. This is just another layer of bullshit being added to the pile. Forget Chubut as a mining destination, just like PAAS should have done before buying their white elephant.


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On The Road


Posting will be somewhere between light and non-existent on this humble corner of cyberspace until Friday. For secret reasons.

10/24/16

Simon Ridgway is not a twat

Because if you call him a twat he gets all sensitive and defensive. Which makes him a double twat, the delicate flower.

Scumbag Frank Giustra just played Daniel Ameduri for the greenhorn patsy he is

Everybody's laughing at you, Dannyboy.

Management at Copper Mountain and K92, please take note

MarketWatch this morning runs "LUV your stock: Why ticker symbols matter", here's an excerpt:
"...researchers asked undergraduate business students at the University of Central Florida to rate three-letter ticker symbols from 1,959 publicly traded companies based on how much they liked them and how easy they were to pronounce. The paper found that valuations of shares with symbols the students liked.... were about 1.3 percentage points higher than valuations of those with handles rated less favorably..." continues here

The people behind the ticker symbol decisions for Copper Mountain (CUM) and "Derek and Clive" K92 Mining (KNT) need their heads examining. Mind you, I still rue the day now defunct junior Polar Star got in new management and changed its ticker to PSR. Previously it had been POS, which was simply perfect.

Chart of the day is...

...the Kitco live gold chart, which you can follow here if you want:




Somebody in New York decided they wanted to own some gold.

The Guardian picks up the story of the death of Brazil environment officer Luiz Alberto Araújo

This is the assassination, most a hit job ordered by illegal loggers, that IKN picked up on at the time of the killing back on October 13th (here and here). It's good to see it getting some wider coverage and here's an extract from the Graun note:

More than 150 environmental activists have been killed in Brazil since 2012, with studies showing the country accounts for half the global toll of such murders.
Many of those killed, including the high-profile cases of Chico Mendes, Dorothy Stang, and Zé Claudio Ribeiro da Silva, were campaigners. But Araújo was a government official, and advocates say his murder is a rare and worrying development.

“The killing of Luiz Alberto Araújo marks a new low in the war waged against environmentalists in the Brazilian Amazon,” said Billy Kyte, campaign leader at the NGO Global Witness. “It sends a message that no one is untouchable.

10/23/16

The IKN Weekly, out now




IKN389 has just been sent to subscribers. It has words, numbers and charts with both words and numbers. And Wilfred Owen. And Douglas Adams.

Global Mining Observer interviews David Garofalo of Goldcorp (GG)

Even by GMO's high standards this is one humdinger of an interview. The intrepid AW makes it to Vancouver and sits down with Garofalo, head cheese of Goldcorp (GG) and gets a whole stack of inside track on how the company's new boss sees his company's direction.

Go read Breakfast in Vancouver with David Garofalo. As for all you other mining bosses out there, you too would look a whole lot better in the eyes of the investment public if you did this kind of Q&A, instead of the normal fawning BS ego-massage stuff you all seem to prefer. Applause due to Garofalo.