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9/23/17

DanO does soil samples and Golden Triangle

I'm a little late to this, but still thank reader TZ for the heads up*.  Either way, late or early, IKN still heartily recommends this essay by DanO on the Golden Triangle exploration plays, some of which are currently kicking butt at market (while some are getting their butts kicked. Most of the thrust is on soil samples and their results, some good advice given (and I've learned plenty about working the GWN rocks as a result).

*DanO, do me a favour and shoot me a mail next time you publish something, yeah?


9/22/17

A few extra thoughts on Lithium X (LIX.v)

Following on from the post this afternoon, responding in public to questions sent in by mail (some of them rather seething in nature), adding a couple of thoughts:

1) The company told many people this afternoon that it was about to publish a press release on the subject. It's now over five hours since the market closed and we've still heard nothing from Brian Paes-Braga and Lithium X (LIX.v). That's because they know they can't flat deny it any longer, they know IKN knows the truth about what's been going on at its dog's dinner of a project, therefore they need to think really hard and phrase the NR really, REALLY carefully before publishing. 

2) They are likely to state something along the lines of there has been drilling in Argentina. Sadly, that's not even half the truth because drilling in a different area under a different permit emitted from a different office doesn't change a jot. What LIX has done is simple; they are a public company, they are subject to continuous disclosure rules, they have kept their shareholders and stakeholders in the dark for literally months about the disaster drill blow-up and the subsequent suspension of their permit.

3) Why have LIX not released a single result from their drilling program so far, despite that drilling and exploration program having started in May? We've been through June, July, August and most of September. We've had 115 days of nothing, despite the fact that the brine they were searching for is easy and quick to collect, collate and assay. What's more, tonight LIX IR is telling the few people they're answering the phone for (normally instos and fund managers who have the IR guy's personal number) that we should get "first results" in "about four weeks"! They're still "stoked" about the PEA which is due out "end of the year", though. You cannot make this stuff up.

4) Here's a question: Why was Stan Bharti happy to accept $5m cash and 6m shares of LIX in exchange for the 50% of PLASA that LIX did not already own? This is, after all, a company that boasted a market cap of CAD$170m when it traded at $2.00/share. The deal was announced in late June and closed mid-July. Hey, y'think Bharti might have known something you didn't? Because I'll tell you something, Bharti may not be IKN's cup of tea but he sure is a smart operator. Smarter than Bri-Bri, that's for sure.

5) IKN is not the only desk to know the facts about the LIX screw-up. Ask Orocobre, who were for a time considering LIX as a JV partner before seeing the slipshod way in which it went about business and then the corner-cutting and rule-breaking it ran to try and cover its tracks. Another neighbour on those flats, Advantage Lithium, knows about all this but didn't want to cast its own company in the bad light created by LIX. As for the regional governments (LIX has to deal with two), they've known for a while (after all, they are the people who suspended LIX's licence) and they're highly annoyed because they have strong directives from the Macri national government to get lithium moving, but worked out too late that they'd let a bunch of amateurs in through the back door (they sounded so convincing at the time, too).

Anyway, I'm still hopeful that we get a NR out of LIX this evening, but I kind of think they're going to wait until Monday morning now. Certainly looking forward to reading how they try to deny the facts and explain to the market authorities why they decided to keep material disclosures away from the market. And one last thing, LIX longs; you may not like the fact and you may read some squirmy prose from Bri-Bri that tries to find a way of denying it all, but IKN is giving you the straight dope. There's no way I would have gone public on this without hard facts on my side and as a quick reminder, many nefarious mining people have opened legal actions and threatened to sue this humble corner of cyberspace over the years, but not one has succeeded: That's because IKN tells you the truth. Hard, uncomfortable truth. You're the one who fell for the Giustra bullshit, live with it dumbass.



The Friday OT: Nirvana; Lithium

Rocking out a quiet week on the blog:




Youtube here.

PS: Mind you, their best track always will be Breed.

Asanko Gold (AKG): Yes, they really are this stupid

A couple of interesting things arise from yesterday's NR out of AKG:

1) As other people such as Muddy Waters have noticed, the company QP Phil Bentley has quietly been removed from the company and its website. This is of course the same Phil Bentley whose work did for Great Basin Gold way back when.


2) To prove how stupid these people are, IKN has been told by more than one reliable source that in the days running up to yesterday's NR, AKG was quietly phoning round (what it deemed) "friendly desks" in the analysis/brokerage world, tipping people off about the upcoming negative news that would be in the NR. As Muddy Waters is currently short AKG, doing things like this is tantamount to suicide as 1) all insto desk phone calls are these days recorded 2) any smart US lawyer can subpoena for recorded information 3) Muddy Waters is full of smart lawyers. Once the smoking gun is discovered on these tip-off phone calls (and I am told they were most definitely in the plural) the USA listed AKG may well find itself in even more trouble than it is today.

(UPDATED) Just in case you're wondering about Lithium X (LIX.v) and its Argentina problem...

...and what Brian Bri-Bri Paes-Braga needs to disclose in his upcoming annuals, it's that the company has had its permits suspended in Argentina. That's because it made a godawful mess when it started to drill, the well literally blew up on them (and there's a video out there to prove it), the government went ape on them and closed the amateur freakshow down immediately.

Bri-Bri and his pals have been trying desperately to get the suspension lifted before the annuals come out, but to no avail. We're now in the interesting position where we get to see just how much they decide to disclose of this obviously material event. What's really worrying the other people working the zone is the fall-out this disaster might have on the whole Li exploration gig going on down there. They're less worried about Bri-Bri and his upcoming pinkslip.

UPDATE: Oh, was it something I said?


UPDATE 2: We hear that LIX is preparing a press release. This is a good thing. When they deny everything (they're telling people that this post "is not true") and say "the permit is on standby", IKN strongly suggests that inquiring minds phone up Orocobre and ask them about that video of the LIX well blowing up they have over there. And also the regional government of Salta to ask them about the permit suspension.


Extra thoughts in a new post, here.

9/21/17

River Plate 8, Wilstermann 0

A magical night of football. River were 3-0 down after the first leg of the tie with Bolivia's Wilstermann, but at home they turned it on and are now in the semi-final of the Copa Sudamericana in the finest style. Five goals (5!) from forward Ignacio Scocco, but perhaps the best of the lot is the last one:



Enzo Pérez runs the length of the field. Youtube here.

There will be no posting on this blog today

For secret reasons.

9/20/17

FOMC and gold

The market never ceases to amaze me...





...about how dumb it truly is.

A Flash update...

...has just been sent to subscribers, Wednesday lunchtime. A couple of portfolio adjustments that were flagged and in the cards anyway, plus a couple of comments.

9/19/17

Argentina Peso update

The Argentine Peso's exchange rate to the Dollar is a reliable sensor for political rick. According to the country's Central Bank today, the month period before the early August PASO elections saw historic record demand for dollars from rank and file Argentines which in turn weakened the Peso significantly.




When the PASO primary election results came out and Macri's government did generally better than expected the Peso snapped back sharply, but the nerves are obviously still there as we count down to the big event, the October 22nd mid-term elections. The Peso can't go under the 17 barrier however much it tries.

Bobby Genovese runs the name change scam: Liberty Silver is now Bunker Hill Mining

A classic move of the shyster and scumbag, the man running Liberty Silver (LSL.cse) (LBSV.otc) Bobby Genovese (the same man accused of the $17m fraud by the US SEC in the same company) has decided to change the name of his company to "Bunker Hill Mining Corp", the change coming into effect on September 28th.

What's important to know is that nothing has changed: Bobby G is still running this BS pumpjob, it's still the same company, it's the same reprobates in cahoots with him, Bobby G is still under fraud charges. Or to paraphrase Bill the Quill:

What's in a name? that which we call a turd
By any other name would smell like crap;




The 7.1mag quake in Mexico looks serious

We're already at 42 deaths and if the images on just about every LatAm news channel are to go by, that's going to go a lot higher. A 7.1 is a big quake, maybe not a wow number but the problem in Mexico City is the soil liquifaction effect that turns the ground under the city into jelly and can ruin structural support of even solidly constructed buildings. Another place with this potential: Silicon Valley. Just sayin'

But back to the real issue today and wishing the best for residents in the zone. Good job it wasn't an 8+ like the one off the South Coast recently.

UPDATE: The official death toll is up to 57, but more chilling is the count of at least 29 collapsed buildings in Mexico City alone.The numbers are going to rise and that is not good at all.

Lithium X

Not long to go, Bri-Bri. People who will be interested in LIX.v's annuals include shareholders, IKN, the government of Salta and The Alberta Securities Commission/BCSC/OSC.

9/18/17

I'm surprised Dalradian (DNA.to) isn't down a lot more today...

...after its NR this morning. Maybe the market doesn't get how negative this ore sorting news is, what with the company dressing it up to make it look like a positive.

Tinka (TK.v) mailbag

IKN Nerve Centre has had three separate mailers asking about Tinka Resources (TK.v) this morning, with the new drill results assay and the price action on the menu. So to be lazy, here's the short note about TK that appeared in IKN435 yesterday evening:

Tinka Resources (TK.v): TK is still bouncing around in the 55c to 60c trading range, no real push in either direction. During the analysis of TK’s 2q17 financials in IKN432 dated August 27th  I wrote this section:

“…at the current burn rate TK is going to get low on treasury soon and as it has a clear pattern of not letting cash/working cap go below $2m, I think it’s a safe bet to say that we’re going to get a placement announcement from TK.v soon.

“The way TK has stuck around 60c has been indicative of the price the market is willing to pay for the next round of financing. I’d welcome a raise at current levels with open arms (and I’m aware that the company has had plenty of interest from brokerages about its next placement) and the company needs to be congratulated, but it also means that we shouldn’t expect too much in the way of share price upside until the process is complete.”

That fits with what we’ve seen since then. In other news, Congratulations to CEO Graham Carman for winning the 2017 Mining Journal “Explorer of the Year” award (12).

Finally, I hear that we can expect a NR on the latest drill assay results in the week ahead. Oh, nicely timed for Beaver Creek and Perumin! Who would have thought…


And yup, right on time, we had that drill assay number today. Pretty good too, it's just that the market is used to seeing good numbers from Ayawilca.

Sandstorm (SAND) (SSL.to): Beaver Creek gossip

It didn't take long for the chatter to start at Beaver Creek. This desk understands that a chunk of Monday morning conference jungledrums concerns Sandstorm (SAND) (SSL.to), which is looking to sell around 6% of its holding in Trek Mining (TREK.v) and get its position down to a more manageable 10% or so. SAND was first approached by a stink-bidder who got short shrift (sorry Marin, doesn't work like that) but is now in more serious conversations with a potential buyer. The question, as always, is the price.

Further to last week's HIVE post: Paging Peter Schweizer

We note that the new Frank Giustra pump job, HIVE Blockchain Technology (HIVE.v), is off and running and being pumped by just about anyone in the whole sordid game this morning. Frank's spread the love of those 1c and 3c pieces of paper far and wide, so right now you're getting Keith Neumeyer's poodle Daniel Ameduri pumping the thing, as well as Frank Holmes, NIA, CEO.ca of course...it's the whole nine yards.

This is of course the company we featured in the post last week to illustrate just how the sharks rip off the retail saps. But IKN's interest goes way beyond the share price performance of HIVE.v this morning (up at 90c already, I see...that puts $3m minimum into Tommy H's back pocket) and to the seedier parts of Vancouver. Therefore IKN calls upon ace sleuth Peter Schweizer to do the following:
  • Go to Haywood
  • Visit the desk of the Medallion holder doing the HIVE/Leeta transfers.
  • Make absolutely sure that both counterparties signed the paperwork before it was rubber stamped.

You'd do the Canadian capital markets a great favour if you did. It would be great if you got there before the Canadian market authorities did, too...scoops and all that. Have a nice day.

9/17/17

The IKN Weekly, out now



As seen just outside Badajoz, Spain (close to border with Portugal). Chosen by reader M.

IKN435 has just been sent to subscribers. It has 14,319 words this week, which is about average. Words, charts and tables, also average.

Sunday morning: Current status...

...writing up IKN435.



Hi Daryl! Hi Chuck!

PS: Very happy with the new Asus laptop in its first few months. Fast, flexible, easy to use. Recommended.