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Nothing else to say, so I'll say nothing. Youtube here.
"...with new Articles of Association (the “New Articles”) in substantially the form attached to this Information Circular as Schedule 1. The primary reason for replacing the Existing Articles with the New Articles is to provide the Company with a modern set of Articles of Association tailored to the Company’s primary trading market in Canada. The Existing Articles were tailored to conform to the requirements of two trading markets - the AIM market of the London Stock Exchange and the Canadian Toronto Stock Exchange (or TSX) - but the Company is no longer listed on the AIM market and has no intention of seeking to renew that listing. Some of the provisions included in the Existing Articles were adopted in order to conform to standards that are customary in the AIM market but not in the Canadian capital markets; these provisions are, on the whole, more restrictive than customary Canadian corporate and capital market provisions. As the Company is at the date of this Information Circular actively pursuing a listing on a Canadian stock exchange, management believes it to be in the Company’s best interest to adopt Articles of Association that will enable it to carry on its business and access the Canadian capital markets without the more restrictive AIM derived provisions imposed in the Existing Articles.
The main differences between the Existing Articles and the New Articles are that the New Articles (i) do not require shareholder approval in advance of any allotment of securities, and (ii) do not impose pre-emptive rights on securities to be issued."
"...directors be authorized in accordance with Article 5.1 and 6.4 of the Articles of Association of the Company to allot up to a maximum of 115,567,514 ordinary shares, being 50% of the current issued share capital of the Company, free of pre-emptive rights. This authority is being sought to give the Company flexibility to make further issues of ordinary shares in order to raise capital for the development of the Company’s portfolio of properties, the Ollachea project in particular, and for general corporate purposes. This authority will expire on the date of the next annual general meeting. As at the date of this Information Circular, the Company held no treasury shares."
Robert Schafer (the main partner in crime)
...copper again. No real choice:
The wild move continues, so at what point is the world going to say...
- Remove the company permanently from the London Stock Exchange.
- Remove the company permanently from the Lima Stock Exchange (contrary to their current corporate position).
- Give the board of directors, a group of people with virtually zero shares in the company, the right to allocate up to 115m shares to whoever they want and at any price they want without getting any further permission from their shareholders.
- Sell a massive part of the company's assets to their preferred friends at a near-criminal discount the true value of the company, all to the detriment of current shareholders.
Here's TIMMEH! today:
Timmins Gold Corp. ("Timmins Gold") (TSX:TMM)(NYSE MKT:TGD) is pleased to announce that it has entered into an agreement with a syndicate of underwriters, led by National Bank Financial Inc. and RBC Capital Markets (the "Underwriters") pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 36,400,000 units of the Company (the "Units") at a price of C$0.55 per Unit for gross proceeds to the Company of approximately C$20 million (the "Offering").Each Unit will consist of one common share of Timmins Gold (each, a "Common Share") and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one common share of Timmins Gold at a price of C$0.70 at any time prior to the date which is 18 months following completion of the Offering. continues here
I feel like I'm taking crazy pills. And here's the best-of reel:
Here's a screenshot from this report in the economy section of Peru's newspaper of record yesterday:
Oh, and then there's another thing about the Cotabambas project and they'd have to move a freakin' provincial capital town in order to build the pit and surrounding infrastructure, so that's slightly different from the working mine too. And the way Las Bambas isn't owned by a bullshit two-faced pumphouse junior. So yeah, apart from all that it's just like Las Bambas.
Keith, it isn't a conspiracy. They're not out to get you, it really is just you and your paranoia. Keith, look at what TIPS did yesterday. Then look at the relationship between TIPS and gold. Then try to remove a bit of that inane and incessant bias confirmation from your brain. And then STFU.
Today's metals commentary is brought to you by Swing Out Sister
VANCOUVER, Nov. 9, 2016 /PRNewswire/ - Capstone Mining Corp. ("Capstone") (CS.TO) today announced that it has entered into zero-cost collars for 43,000 tonnes of copper with settlements between January and December 2017 at a minimum of US$5,025 and a maximum of US$5,585 per tonne of copper. There was no cost to Capstone to put this protection in place. Continues here
(lots more on Sunday, subbers)
...has just been sent to subscribers, just before midday local time on this hot and sunny Wednesday morning. Nothing to do with Trump.
UPDATE: Mystery solved in two of the cases, as Byron King of The Gold Speculator has called sell on Mirasol and Lara Which makes both of those buying opportunities, as he's a freakin' dumbass. (EDIT: And Goldgroup too, which proves how stupid this Byron guy is because anyone who claims to have met Keith Piggott and then recos his company is one beer short of a full sixpack).
PS: And the people who believe his words are dumbass squared. Your visual evidence:
At this point in time, midnight EST, it's up 16.55%. Just in case you were wondering.
My thanks to readers J and N.
...nobody cares about IKN. Which is exactly how things should be.
I'm going to find some fish to eat. Have a pleasant day.
...copper, 90 minute spacings:
That's a rally all right.
And though many of them have crashed and burned (as usual, this particular random prediction made in December 2015 has come back from the dead and stands a fighting chance:
Even called it under $2 early year.
A small sample of IKN391, out last night. Here we see how the new Peru government of Pedro Pablo Kuczynski is going down the old and tired road of over-promise, under-deliver.
Peru Mining reality checkIt’s time to start being very careful about the overly bullish statements coming out of the new PPK government, the “investment community” many like the man at the top but his minions have started bloviating, which isn’t good for the longer run.A prime example here came from Peru’s Ministry of Energy and Mining, trying hard to fight back against the perception that there’s a big gap in the project book in the country. To that end its trumpeted its wares to the media last week and here’s (10) an example of the result, from Peru’s major media channel (and number one news radio station) RPP which gave us the headline, “Construction Will Begin On Eight Mining Projects Worth U$9.033Bn”. Here’s a paragraph from inside the article (translated):“The ministry specified that the projects that will move into construction in the months to come are mainly for gold and copper, though there are also iron ore and phosphate projects on the list”.That sounds good, right? Well yes, right up until the moment you see the list of the projects about to get going in the next few months:
On the bright side the Miski Mayo (Vale) expansion project and the Ollachea project are likely to happen in good order. Hochschild has its funding issues, but Crespo should happen eventually too. And though I have my doubts due to the fact it’s copper, I suppose you could even make the case for Milpo’s Pukaqaqa project because it’s fully permitted and relatively small (as copper mines go, at least). BUT, over half this imaginary basket of loveliness is the Anglo Quellaveco copper project in Moquegua and that’s not going to see the light of day in years, let alone “a few months”. Then there’s the marginally economic Pampa de Pongo iron ore project, that’s $1.5Bn of the total and with serious doubts over its development. Then add on the Pacasmayo Fospac phosphates project in Bayovar that is advanced, but even if it gets its build decision currently slated for 2q17 won’t become a working mine until 2022 according to that company’s own timeline.The problem with the perception in Peru that there’s a big gap in the mining investment pipeline is precisely that it isn’t a perception, it’s a stone cold fact. If the MEM decides to go the happy marketing route and Everything Is Awesome this early into the PPK administration, it’s just asking for trouble further down the line.
Tinka (TK.v) adopts the Spinal Tap method of raising working capital.
Tinka announces the closing of the first tranche of its upsized brokered private placement for up to C$11 Million
It's one louder, isn't it? It's not ten.
...ten days of gold bullion (GLD proxy) versus the US broad markets (SP 500 proxy):
Love it. It's a Rorschach.