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4/4/20

Guayaquil Ecuador, Saturday morning

The banner reads "We have phoned 911 and there is no help."



UPDATE: This desk has learned that President Vizcarra of Peru has sent a battalion of soldiers from a barracks in Tumbes to the border between the two countries. The source states that many people for Ecuador are trying to escape illegally into Peru, which would endanger the expansion of Covid-19.

Dominic Frisby on the post-Covid19 UK housing market should also be watched by all North Americans




Obviously more relevant to those living in the UK, but there's more than enough to hold the attention of anybody living in any industrialized nation. Strong recommend. Also, I'll be picking this ball up and carrying it further in The IKN Weekly tomorrow evening, subbers. Youtube here.

Eric Sprott and Covid-19

A post to confirm that yesterday, in his weekly wrap-up, Eric Sprott OMO decided not to apologize for propagating dangerous fake news and lies about Covid-19 being man-made. He did not apologize, he did not correct or even try to roll back his outrageous assholery. In short, too fucking full of himself to admit he was wrong. Which is good, it means there is one less to worry about. Eric Sprott's views on the greatest influence on the market are now irrelevant. Goodbye Eric, you ain't never getting to Davos.

4/3/20

Geologic Time Scale news

From here. For your information:


The Friday OT: Bill Withers; Ain't no sunshine

A sad day. Let's remember how good he was.



Youtube here.

A reminder: Please read "We Need #Masks4All, an important video on Covid-19 prevention"

I'm glad to say that thousands of you already have but, the post from last Saturday that lays out the case for why everybody should wear a mask with pride. Unlike virtually everything else that appears on IKN it's important information and not only that, it's based on good science rather than a wing, prayer and dumbo conspiracy theory. Please watch the video, you will be smarter about our greatest threat once you have.

Willl Eric Sprott apologize for spreading false and dangerous information in this week's podcast?

We await to find out.

Peru Covid-19 new cases chart, to April 2nd

This series of chart-plus-quick line below is likely to be daily for the next two weeks. However, I will deliberately refrain from comment on Peru's numbers. 



Lima positive cases up 69, non-Lima cases up 32, total at 1,414 confirmed Covid-19 cases, 55 deaths.  Source: Peru MINSA.

PS: This report out today Friday on what is happening in Guayaquil Ecuador is a salutary reminder of what can happen in low income countries with poor health services. We may end up judging country performance against Covid-19 by calculating how many people died in hospital vs in the streets. An excerpt:
His 57-year-old father fell ill on 18 March, a week after Ecuador’s president, Lenín Moreno, declared a nationwide coronavirus emergency and nearly three weeks after the country’s first confirmed case.
For five days Reynaldo Barrezueta suffered body and headaches before appearing to improve. But last Thursday Barrezueta said his father deteriorated, developing a ferocious cough, and was taken to Guayaquil’s Monte Sinaí hospital where a chest x-ray suggested he was suffering from pneumonia caused by Covid-19.
Barrezueta claimed swamped health workers told him they had no room to admit his father and they returned home with instructions to treat him with paracetamol. At about 6am on Monday he woke with chest pains and breathing difficulties before dying in front of his family, apparently from a heart attack.
On Thursday lunchtime, more than three days later, his body was still there – a black binbag draped over the coffin in a futile attempt to conceal the growing stench of decomposition.

4/2/20

The personal market position ...

...continues to be "Ignore it all completely until we get some sort of resolution one way or the other (all pre-crash equity positions on hold until such time)", but if you have been playing the market and winning (good for you), my personal call would be to take your profits now, Thursday midday. Don't wait until tomorrow Friday to close or balance, and certainly don't wait until the Monday open when the US infected count is already through 500,000. 

Just my two cents. Opinions are indeed like assholes; everyone's got one, everyone thinks their own doesn't smell.

Two things about the Equinox (EQX) NR today




Thing One: In its previous March 19th NR, right near the top so everyone could see, EQX stated:
"To date there are no confirmed or presumptive cases of the COVID-19 virus at any of the Company's operations or offices." 
In the NR today, that isn't included. Did they forget? Did it slip the compliance legal team's collective mind? Is there anything you are not telling us, perchance?

Thing Two: This part is wonderful, Ross. Heartwarming and the advertisement for the mining industry that we all need:
"The Company's RDM Mine in Minas Gerais State, Brazil is recommencing full operations after a previously announced short-term suspension of mining activities in compliance with a municipal restriction."
Because nothing says it better than, "Well, if the country's President doesn't give a fuck, why should we...eh?". First Eric Sprott's dangerous wank and now this, it sure is fun to see the true colours of Canada's industrial elite when they get put under pressure. Hey now Beaty, don't forget to mention to Daniela in your next Kitco puffball that your company's people are its greatest asset. Asshole.

Orefinders Resources (ORX.v): Smart thinking on display

So here's the thing with Orefinders (ORX.v): I have never owned shares in it or any of its related companies, but I met Stephen Stewart once upon a time and since that meeting have kept a quiet eye on what he does, as the way he goes about his job and gets a lot done on shoestring budgets is the right way to be a CEO of a tinycap. That includes effective marketing such as the ORX NR today, Exhibit A of that extra level of thought. 

Canada is currently confined to quarters and this humble scribe can promise you, a NR offering the chance to watch a 35 minute webinar video about "The Story Of..." on a tinycap exploring patches of the country would not have made it to the blog if we were still living in the alternate universe. Back in the alternate universe, we had busy and important things to do and we laugh at 35 minute webinars from tinycaps. But not any more, which is why ORX gets a well deserved round of applause from IKN. Here's the NR, read it yourself and then go watch the gig (which you are likely to enjoy).

TORONTO, April 2, 2020 /CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company") (ORX:TSX.V) is pleased to present its latest webinar, The Story of Orefinders. This 35-minute webinar is hosted by Orefinders CEO Stephen Stewart and covers six focus areas, which correlate to the Company's six core assets.
The webinar covers:
  1. Recent Investments by Eric Sprott
  2. 24% Ownership in Mistango River Resources (MIS: CSE)
  3. McGarry Project, adjacent to the Kerr-Addison Mine, Drill and Exploration Plans
  4. Knight Project Drill Targets and Exploration Plans
  5. Mirado Mine Update
  6. 10% Ownership in Power Ore (PORE: TSX.V)
  7. 32% Ownership in—and planned Spin Out of—Pacific Precious
About Orefinders Resources Inc.



Regarding Ecuador

IKN Nerve Centre passes on a quick thought about the country of Ecuador, as your own country's newsflow probably has more than enough to handle and you may not have heard that this country is going downhill fast. 

The official figures for Covid-19 today are 2,758 infections and 98 deaths, but that is almost certainly wildly underestimating things because testing is very thin on the ground. The city of Guayaquil is catching some world headlines as people have resorted to leaving dead bodies on the streets, as authorities have failed to collect them from people's homes and bodies are being left to rot next to grieving family members. Trying to get a handle on the unofficial numbers is a little like herding cats, but reasonable local reporting that cites people in the worst affected areas say police yesterday picked up 150 bodies from the streets of Guayaquil. Other stories have better sources but are equally as horrific, such as this from the city of Bobohoyo where a man with suspected late stage Covid-19 was brought to a hospital. He was assigned a bed in the Covid-19 ward, refused to enter the ward due to the conditions, evaded security guards and escaped on foot from the hospital, only to collapse and died half a block away.

President Moreno was already unpopular with Ecuador's rank and file, his image has only sunk further due to his country's weak reaction to the pandemic. Its official Covid-19 figures are a tissue of lies and calls for the resignation of Moreno are louder by the day. The country has the smell of one spiralling out of control and you may want to re-consider any financial exposure you have to it.