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10/6/17

The Friday OT: BT; Dreaming/Giving Up the Ghost/Godspeed/Namistai

BT's album 'Movement in Still Life' isn't perfect from wall to wall, but the UK version is miles better than the US version and inside it are these four tracks running on from each other that are mind-blowers. Your Friday OT of the day:




This runs from 30:05 of the album, the start of Dreaming, and old timers among the audience may remember it as an extremely adapted cover of a Judy Tzuke song. It's great start to a set that just gets better, with the four track sequence ending at 59:40 (yup, nearly half an hour of bliss). Your author's current music of choice on short-haul flights, it's got to the point when I don't want to get off the plane. Again, as with anything BT don't skimp on the speaker quality. Youtube here.

Remo Resources (RER.v)

One to watch. Serious Peru team. See today's news for more.


The Alset Scam (ION.v): Get the picture

Oh how we laughed when Alset (ION.v), one of the Vancouver cesspool's most obvious scams (and my stars there's competition) released yet another waste of space NR this week and...oh what a surprise...the stock proceeded to pop on the news then immediately drop.

Why the ironic use of the verb between ellipses? Well folks, all you need to do is check back over the last six months of this scam to see the pattern, it's like deja vu all over again.


1: April 4th and April 19th: Firs the classic scamsters move of a name change, then a NR with flashy showy headlines with content of nothing. 
2: May 15th. A month later, we get another empty NR with flashy sounding headline to fool neophytes, with BS spiel by scam head CEO Allan Barry Laboucan.
3: July 11th. We need to wait and wait for overdue drill results and when they turn up, same story. The showy header, the stupid BS spiel by scam head CEO Allan Barry Laboucan, the pop, the drop.
4: August 9th. And now we just copypaste. Another empty NR with flashy sounding headline to fool neophytes, with BS spiel by scam head CEO Allan Barry Laboucan.
5: October 2nd. Another empty NR with flashy sounding headline to fool neophytes, with BS spiel by scam head CEO Allan Barry Laboucan.

Only a Rex Tillerson level moron would keep falling for this scam time after time. However, the parasites of this world like Allan Barry know there are plenty of them, which is why he hangs around CEO.ca because a guy like Tommy Humphreys (aka Lord Haw-Haw) attracts them like flies to shit.

Keith Neumeyer, August 2016

At the time our everso everso special CEO Keith Neumeyer spoke these words, silver was at the U$20/oz mark and gold was revolving around U$1,350/oz:
We’re obviously at $20 silver. We’re at $1,350 gold, currently. I think, quite honestly, there’s a chance that we’re going to see $25 silver by the end of the year and then we could likely see $1,500 or $1,600 gold by the end of the year. Maybe those will prove to be too optimistic, but if it doesn’t happen between now and the end of the year, it’s going to happen sometime within the next 12 months.

And here's how First Majestic (FR.to) (AG) has done since those wise words were spoken:





Down over 60%. Emperor's New Clothes.

Another copper dailies chart

Considering the macro backdrop...





...copper's doing well to hold above $3/lb today.

Bad news for the Neumeyer / Ameduri pump, Zinc One (Z.v)

Daniel Ameduri must be getting pretty nervous. After all, he promised his flock of sheep in May that if Zinc One didn't get to $1.30 a share by May 2018, he'd close down his sordid little business. Here's the quote:
 Dear Reader,

We are so certain that this extremely undervalued company is a strong buy here, we are staking our entire careers on this single stock pick.
 
I, Daniel Ameduri, fully expect this company to lead the rally for zinc stocks, to the point that if my recommendation to you here today at CAD$0.65 doesn’t at least double over the next year, I will officially close down my letter.
 
In fact, I see this stock as a coiled spring, and I believe that I may be proven right over the next 30 days, with 11 months to spare!

With Z.v not even getting close to $1.30 and here today October priced at 52c he's surely antsy about the future, what with the clock ticking louder. That's the reason for his teaser mailer earlier this week and it's why he so keen on getting his sheep into this thing.

Therefore we have bad news for you, Dannyboy. IKN has learned this evening that the drill permit submission made by Zinc One (Z.v) to the government of Peru has just been turned down. That means the drill program planned to kick off this month is on total hold and what with the rainy season about to kick off in that corner of tropical Peru, the whole promo is now staring down the barrel of big fat delay.

No way you can pump flashy twin-hole drill results without any drilling done, right Danny? Looking forward to watching your piece of crap rip-off scam business close down.

10/5/17

West High Yield (WHY.v): "If it smells like a scam"

"If it looks like a duck, and quacks like a duck, we 
have at least to consider the possibility that we have a 
small aquatic bird of the family anatidae on our hands."
Douglas Adams


I'm getting to like Alpha Mining. Here Rob Alpha does the post on West High Yield (WHY.v) so that I don't have to. Check out  "If it smells like a scam....West High Yield" for yourself, it's all you need to know.

PS: Great follow-up post by Alpha Rob, too. Right here.

Minera IRL: It's beginning to dawn on Cofide...

...that they're deep in the excrement. About time too, the freakin' dumbasses. I mean, this band of fools try to get an asset for U$70m, then when Minera IRL doesn't just roll over and play dead demand an arbitration procedure without even noticing how weak Cofide's case is, then when they see their case is weak try everything in their power to stop the arbitration from moving forward. And now the connection between Cofide's chief Pedro Grados and the piece of crap hired by Daryl Hodges to steal the company back in 2015, Jaime Pinto, is finally coming to light. The truth behind that cosy partnership has only just begun to be revealed, too.

Meanwhile, according to the on-record statements of the IRL chairman, the company can't wait to get the arbitration process going. What does that tell you?


After the Fiore (F.v) debacle, the pressure on Deepgreen

The whole of Frank Giustra's Vancouver empire rests on his ability to turn paper into hard currency, which means that the recent Fiore Gold (F.v) fiasco is not good for his business. So all eyes now on the next charge about to leave his stable, the very silly Deepgreen. Frank's obviously worried about this one, because in the last 48 hours he's sent the word out to his minions Tommy Humphreys and Brian Paes-Braga to hit the phones, call up all those "lucky friends and family" who were given dirt cheap pre-IPO shares in HIVE and get them to prop up the Deepgreen IPO. Or else.

We can, therefore, state the obvious: The Deepgreen initial offering will fill and Frank, using OPM as usual, will make his money. But we can also state that Tommy and Bri-Bri are going to pump the merry hell out of this one. Also that the anointed few who sold their HIVE shares for obscene profits are now aware that there's no such thing as a free lunch, especially when you get hooked into Giustra's nefarious world. The ex-escrow rush for the door on Deepgreen is set to be one for the ages.

Chart of the day is...

...copper, last week's trading:




Getting jiggy this morning.

Correcting on Golden Queen (GQM.to)

When IKN gets one wrong, your humble scribe has no problem in eating a slice of humble pie. That happened last night when in this short post I wrote that the big share price drop in Golden Queen (GQM.to) was due to selling from the partner Clay family. That's not right. In fact, the drop was due to John Doody issuing a sell call to his newsletter subscribers. Therefore, IKN corrects.

Widening the subject slightly, As for the real reason behind the GQM drop, the dumbass Doody has a really nasty track record of screwing his own subscribers this way. In fact the comment on the promising Alphamining blog here yesterday said it well:

"If the massive sell-off today was due to a newsletter writer's recommendation and you are a subscriber, ask yourself if you really should follow his or her advice on small cap stocks with limited liquidity.  You'll overpay to establish the position and you'll get crushed when the herd heads for the exit, which may explain the action today."

Or as one of the people kind enough to wrote into IKN this morning noted, "They did the same thing to Minefinders, Eldorado and most recently, as you are aware, Sandstorm. Each time was a great buying opportunity". True that.



CORRECTED Golden Queen (GQM.to) dropped today because...

...the Clay family did some hefty backdoor selling. Just so you know.

CORRECTION: Turns out I've got this one wrong. The reality in this update post published Thursday morning.

10/4/17

The Ameduri/Neumeyer pump on Zinc One (Z.v) begins

Less than a day after IKN told you the score in this post, the paid pusher whore Daniel Ameduri began his campaign to pump the merry hell out of Keith Neumeyer's Zinc One (Z.v). Here's the Ameduri 'Future Money Trends' mailer from this morning:



The soft teaser beginning, but as FMT only has one zinc name on its roster there's no doubt about the real game going on. Also no doubt, when the very centre of this pumpjob decides the time is right they're going to give this thing both barrels. For one thing, Ameduri promised his dumb flock that if it didn't make $1.30 by mid 2018 he'd close down his bucketshop. That and he has to keep his paymaster happy, as Keith has paid him $250,000 to run this thing at the world.

From IKN437: "Leagold (LMC.to): WWWB? (What Will Woodyer Buy?)"

Here's a piece that formed part of IKN437, out last Sunday evening, that muses on what targets Neil Woodyer has in mind for his new toy Leagold (LMC.to). Interestingly, since this was published (2.5 trading days ago) Guyana Gold (GUY.to) is up 10.3% and Argonaut Gold (AR.to) is up 8.6%. But that's probably just coincidence, innit guv? After all, nobody takes IKN seriously.

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Leagold (LMC.to): WWWB? (What Will Woodyer Buy?)
In the last two weeks, the question in that title is one that I’ve spent time and conversations on. It’s about narrowing down the potentials for M&A activity too, because although I’m in no hurry to buy into Leagold (LMC.to), the company originally formed to buy Los Filos from Goldcorp (GG) last year, if we can identify the next things on the shopping list for LMC there’s money to be made.

The background is as follows: Now that LMC is off and running with Los Filos (e.g. announcing a few days ago the first part of the underground development program it will need to get the underground project at the mine working) it’s clearly looking further afield. In recent days its CEO Neil Woodyer has confirmed to the market that LMC will adopt a “build and buy” strategy similar to the one he used to great effect at Endeavour Mining (EDV.to) in West Africa. Also, a little over two weeks ago at a meet and greet lunch at BMO he was heard saying that LMC planned to buy “in LatAm” for its next purchase, with acquisition number three “in Guerrero”, the province where Los Filos itself is located. That little lot gives us clues, as does the M.O. Woodyer used to build EDV.

  • Although other metals aren’t out the question, this company is obviously a project with gold in mind.
  • LMC is the LatAm version of EDV. The formula works, it’s lather/rinse/repeat time.
  • EDV bought late-stage projects, mines working sub-optimally, or companies with balance sheet pressure (subsequently alleviated by share placements) (also see how Crocodile Gold transformed itself and was bought out…same plan).
  • EDV has at least two purchases in mind, even as it progresses with Los Filos.

I don’t want to make this a long-winded piece, so let’s get straight to the point. I’ll be very interested to hear what other ideas or suggestions you out there might have for potential targets, but after due consideration and plenty of chinwag with a range of contacts, here are my three calls as logical contenders. Two are best fits, one is a possible alternative.

For next purchase: Best call Argonaut Gold (AR.to). Argonaut (AR.to) has the right mix: It’s an operator, it’s in Mexico (same as Leagold), it’s been woefully run over the years and its assets are in need of a shot in the arm. After a string of bad purchases which AR refuses to write down, it currently runs a book value of U$627m, so considering that its operations turned a minor profit in Q2, just considering its market cap of approx U$347m (CAD$1 = U$0.80), the price/book of 0.55X points us at one dysfunctional company that could do with a new broom. Its market cap is roughly equivalent to LMC’s at the moment too, so it would work on a “merger of equals” marketing frame.

For next purchase: Possible call Guyana Goldfields (GUY.to): If it weren’t for the fact that GUY is 1.5X the market cap of LMC at the moment, this would be my prime choice. As things are, it might be too much of a reach at the moment. GUY operates the Aurora mine in Guyana and had a problematic Q2, which along with a piece of minor bad news about Q3 recently has seen its share price drop quite sharply. Again a producer, again a great fit, GUY also has some financial debt on board which weighs on its bottom line results and that’s a fit for the Woodyer model, too. However, in order for this one to be a live possibility we’d need to see its PPS climbing first because no board in its right mind sells out at lows unless under serious strain.

For subsequent purchase: Alio Gold (ALO) (ALO.to): After hearing recently that LMC planned to buy its next thing outside of Guerrero before buying again inside, I put a potential spec on hold. But it’s only on hold, because if the circumstances pan out it’s my most likely buy of the three. Alio Gold (ALO), previously known as Timmins Gold and owner of the Ana Paula project in Guerrero as well as the San Francisco operating mine in the North, is the only one that truly fits (Torex is way too big, nothing else there has the advanced project status Woodyer would require). At a market cap of C$190m approx, it’s the right size too. Another potential synergy is that if (repeat IF) LMC does a deal with Argonaut, the San Francisco operation would fit right in with the AR assets, geographically close and with obvious cost benefits for the larger corporation.

Bottom line: We know LMC plans to repeat the EDV model, be aggressive and build something with specific gravity in LatAm in the same style as EDV has in Africa. It’s always tough to second-guess M&A targets, but on consideration I think there’s a chance that the first target will be Argonaut. I don’t plan to trade that myself, it’s a little too much like trying to convince myself I’m right. However, once LMC jumps and makes its purchase, it would then make all the sense in the world to take a long position in Alio Gold, first because LMC’s plans were then off and running, second because LMC wants something else in Guerrero as purchase number three and ALO is the only thing that truly fits the bill. If the second purchase (i.e. Los Filos is number one) turns out to be Argonaut that would just add more conviction to my ALO thesis, as San Francisco would fit into the plans more closely.

But one thing is sure: It’s not guesswork or conjecture as to whether LMC will go the M&A route, it’s a case of when. CEO Woodyer has not hidden the corporate strategy and the roadmap looks very similar to the previous EDV success. The only issue is the timing.




Chart of the day is...

...zinc, six months:




And though it doesn't show it on this Kitco daily close chart, check Kitco's 24h chart here and you'll see that Zn just broke U$1.52/lb. She be flying.

Minera IRL: Jaime Pinto has been a naughty boy

And now Jaime Pinto is going to pay. Yup, Pinto is indeed the "certain third party" now charged with corruption and from what IKN understands, the case against him is very strong. He goin' down. Link here.

LIMA, PERU--(Marketwired - Oct. 4, 2017) - Minera IRL Limited ("Minera IRL" or "the Company") (BVLAC:MIRL)(CSE:MIRL)(CSE:MIRL.CN)(CNSX:MIRL) reports that the Superior Council of Arbitration of the Chamber of Commerce of Lima ("CCL") has rejected the arguments submitted by Corporación Financiera de Desarrollo S.A. ("COFIDE") in opposition to beginning the Arbitration requested in June, 2017 by the Company's subsidiary company, Minera IRL S.A. The Council has admitted all of Minera IRL claims despite COFIDE's objections, and decided that the Arbitration should continue. The formal announcement of the Arbitration Panel is expected in the coming days.
Minera IRL has become aware of irregularities at COFIDE that appear to be preventing COFIDE from honoring its commitments under the Mandate Contract to structure the US$240m financing package for the development of the Company's Ollachea gold project. As a result, the Company has filed, before the authorities, a criminal complaint of corruption against certain officers of COFIDE and third parties directly involved with the alleged events. MIRL has taken this strong step in order to protect the assets of the Company and all of its stakeholders.
In addition, the Company understands that COFIDE has filed a lawsuit against some of its own former officers, alleging violations of internal procedures and, without any apparent foundation, COFIDE has named the Company as an additional defendant. It appears that, rather than trying to find a joint solution to the existing dispute, COFIDE would prefer to harm the Company's good name and commercial reputation.
Minera IRL's Executive Chairman, Gerardo Perez, stated that "We are pleased with the CCL Superior Council of Arbitration decision rejecting COFIDE's opposition and ordering continuation of the arbitration. We intend to provide all necessary evidence during the course of the arbitration process in order for the arbitrators to find in our favor. Likewise, we reject the complaint and abusive attitude of certain COFIDE officers who appear intent on destroying our Company's reputation and commercial viability through a media campaign that threatens our ability to access possible means of financing."
The Arbitration was requested by the Company last June. COFIDE submitted its opposition by the end of July. In August, the parties were called by the Superior Council of Arbitration of the Chamber of Commerce of Lima in order to present their positions regarding the continuation of the procedure. In September, by means of Resolution No. 0234-2017-CCL, the Council decided that "the Arbitration shall continue with the participation of Minera IRL S.A. and COFIDE regarding all the claims previously submitted by Minera IRL, so that the Arbitration Panel to be constituted can decide on any objection to its competence".
Following said resolution, the final composition of the Arbitration Panel is expected to be announced and constituted in the near future.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.



x

Angry Geologist does Regulus (REG.v), part deux

TAG runs the ruler over the latest NR from REG with the second set of holes from AntaKori. Apart from being wrong about his guess on where the centre of the skarn might be, it's very good. Go here.

10/3/17

An interesting new blog

It's called Alphaminingblog, it's new today, the owner sent over a mail to ask whether I'd check it out. I did and thanks to posts such as this one that rips quite correctly into the mediocre BS that is Los Andes Copper (LA.v) in good style, it's already looking like a promising source. Here's how that post ended:
"If anybody from Los Andes Copper reads this, I'm sorry to pick on you in my first blog post.  My view is that you wasted money paying biased newsletter writers to hype your story to make it sound better than it really is.  That is not serving your shareholders well and it takes capital away from other projects with better economics that should be advanced.  Oh, and you should remove the paid research report from your website because the regulators take the view that it has to be NI43-101 compliant if you disseminate it and that report is not compliant!"

Well said, apart from the apology Rob; never apologize to a mining sector parasite (a statement which includes John Lee and Vic Alboini, of course). There are two other posts up on the blog already, so go check out the whole thing on this link right here. I'll be keeping my beady eye on Alphaminingblog, wishing it godspeed.

PS: And Greg Johnson, of course.

The next Daniel Ameduri/Keith Neumeyer pump...

...will be Zinc One (Z.v).

Now they've fleeced a bunch of sheep via HIVE.v, the Keith and Danny show is about to turn its attention to Zinc One (Z.v), the zinc project thing Keith runs in Peru. Drilling is set to kick off in a couple of weeks and when it does, we'll probably get the first volley of BS from Ameduri at Future Money trends (he's being paid $250,000 by Neumeyer to pump it...get to work sonny). Then comes the first set of drill results and as they're virtually guaranteed to include 20%+ Zn hits, Ameduri will then hit the hyperdrice button.

You may feel like positioning yourself before it all kicks off.

First Majestic (AG) (FR.to): Not good

What's even worse: This happened Sunday and that sociopath Neumeyer decided to keep it quiet. Seriously Keith, WTF? You loll around your office, trying to make yourself out as the coolest guy in town, sipping añejo tequilas and espousing on the spiritual benefits of yoga, but when reality intrudes into your pathetic fantasy world you just fold up into a corner and pretend nothing's happened. Coward.

Four Dead in Explosion at First Majestic Mexican Mine: Excelsior

2017-10-03 01:57:20.579 GMT

By Cyntia Barrera Diaz
(Bloomberg) -- An explosion at La Encantada mine, located in the northern Mexican state of Coahuila, left four workers dead, Excelsior reports.

* Explosion happened Sunday afternoon at one of the mine’s scoops

** Subsequent fire affected part of the mine


To contact the reporter on this story:
Cyntia Barrera Diaz in Mexico City at 

UPDATE: Published to SEDAR at 12:27pm today Tuesday; How freakin' pathetic.




 

Sandstorm Gold (SAND) (SSL.to) 3q17 sales

A decent number, 14,290oz AuEq,which means SAND is a virtual lock to beat the top end of 2017 guidance now. They need 12,403 o in Q4 and if they don't make that, it would be the worst quarter since 1q16.



NR here and there's plenty more to chew over in it.

10/2/17

Those people surprised about the news out of Candelaria Mining (CAND.v) this afternoon...

...are not readers of IKN. This humble corner of cyberspace last week:



And now, roll on drums, Candelaria Mining (CAND.v) this week:
Due to the current political climate and upcoming state and federal elections, the Company has decided to retract the environmental permit for the Caballo Blanco project which was submitted to the Mexican Environmental Authority on July 14, 2017 (see July 27, 2017 news release for details). The Company will use this time to further optimize the project and continue ongoing dialogue with the local communities and state and federal officials.

Full NR here. And yes, the Veracruz FUBAR will fully apply to Almadex too. Further questions?

Tom Petty

66 is way too young.

Joe Mazumdar does BNN

At 5:30pm EST, the handsome one of the Exploration Insights dynamic duo, Joe Mazumdar, will be on BNN for the full hour of its Market Call show. Get your questions in on whatever tickles your fancy miner-wise, the dude is a walking encyclopedia on the sector.

I'll link up the video replay on this post later.

UPDATE: The video replay is up at BNN. Start here, let it roll.

This Modern World

It never gets old. Just replace the word "Tucson" for "Las Vegas". Or Miami. Or Aurora. Or Columbine. Or (etc):.
 

And change the number of dead.

10/1/17

The IKN Weekly, out now




IKN437 has just been sent to subscribers. Wrapping up a quarter.

Catalan fun

What? You didn't know that Castilian Spanish culture is based on thuggery? Read a few history books. Perhaps start with the last 500 years of Latin America.




The top photo is my favourite so far. Kind Mister Policeman's crackdown on overly bland knitwear