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4/25/18

Catching up on the Pretium ($PVG) 1q18 production numbers

Remember a couple of weeks ago when the PVG 1q18 production numbers came out and sell side anal ysts were all breathless about those Q1 numbers and exhorted you all in RetaiLandia to buy now before it's too late and Allan Barry and Louis James and Stockhouse dumbasses and too da moon and Rick Rule is never wrong and money and unicorns and things?


Good. Glad you remember.

3761 St Pauls Avenue, Vancouver

Nice house.

There's something strange happening with GLD inventories

It's goldbug tinfoil hat time at IKN, because this is weird:


After running up the way it has recently and right in the middle of a period of intense market turmoil, just the type of action that makes gold safe haven strategies attractive, gold inventories at GLD have stalled at 865.89mt and stayed right there for nine days running. That's also just under the record since Trump came to power. Parrot required:



Regular readers know that IKN doesn't jump quickly into conspiracy theories and blather about Bildebergs and "THEM!!!", but your humble scribe is also keenly aware that markets get rigged from time to time. There is something amiss here, it's not as if gold should be ignored at the moment. Data from here of course.

SolGold (SOLG.L) (SOLG.to) ($SOLG.L) at La Hueca

The really foolish who disparage SolGold (SOLG.L) (SOLG.to) think the company is just one large but low-ish grade maiden resource at Alpala. Just forget them, they haven't looked carefully. The semi-ignorant think SOLG is only Alpala, but see expansion potential. At least they're watching and using a bit of brain, don't give up on those people yet. The consensus pro-investment view is that SOLG is Cascabel and not only is there tremendous upside potential at Alpala but there are a whole bunch of very interesting places to drill on the larger concession. They've just started on one, more to come.

But there's a whole lot more to SOLG. Start with La Hueca and remember where you saw this name first, ladies and gentlemen. By way of disclosure I own SOLG shares, I know how many shares out they have, I've been happy to hold through the recent dip in price and I am current basically UNCH on the trade, I'm fully aware of its market cap today and it's crystal clear this company is a raging bargain. Even more so now La Hueca is part of the equation.

ANZAC Day


4/24/18

BREAKING Tahoe Resources (TAHO) (THO.to) $TAHO: The La Arena strike is going from bad to worse

Word from La Arena this afternoon is that the local community around the Tahoe Resources (TAHO) (THO.to) gold mine in Peru have joined in the employee strike action currently underway and have now blockaded the access roads to the mine. Up to now, TAHO may have been able to keep up the pretense of this dispute not affecting production, that is now well and truly over.

Locals are incensed because the last time they complained about the way in which TAHO had not kept their community agreement promises, management at TAHO promised them they would make amends and give them the type of ancillary work due (e.g. catering, security watch etc). But yet again, those promises have not been kept and the locals have run out of patience.

TAHO Resources is run by two-faced idiots and liars. Time to fire them before it's too late. And Edie Hofmeister should tell the truth to the people who pay her out-sized salary once in her life.

Another thing that continues...

...is the rise in Asanko (AKG), as predicted at first The IKN Weekly and then this blog a few days ago.


Ex-comms I'm 24.7% up on mine in three weeks (in a flat market, see XAU benchmark above) and please recall, this is the blog that successfully called AKG down from its $3+ level and now catches at least part of the upmove, for pleasure and profit. And yes of course, this post exists specifically to annoy the IKN haters. Gotta hate, guys, Gotta hate.

The strike continues at Tahoe Resources (TAHO) (THO.to) La Arena gold mine

As you can see from this report and video, published four hours ago by a local media source. What's more, word now reaching this desk has employees at the nearby TAHO Shahuindo mine considering joining in the strike, as they too have not been paid their 2017 participation bonus and are unhappy about a marked deterioration in working conditions.

It would seem TAHO's idea of "payment of bonus" isn't the same as reality. Somebody should ask them if those bonuses they paid were for all employees or just a specific few. And how much. Y'know, basic questions.

Alex Black, Tahoe Resources and Italian pizza

Italian pizzas are delicious, but not all of them because they have those cheapo supermarket frozen brands too. But stating in public "Italians are great at pizza" wouldn't cause a problem because your national stereotype is talking about a positive. However, in these politically correct times it would seem that even when you are obviously talking about  a specific group of people, i.e. the numbskulls who run Tahoe Resources from their gold plated bathroom HQ in The United States, you get into trouble if you don't get the wording juuuuuust right.

It would seem Mr. Black has ruffled a few feathers. To that end, he's just emitted a clarification of his tweet yesterday. Link here, screenshot below:



So now you know.


Mina Justa: Minsur makes a small fortune...

...by starting off with a big fortune and moving into copper. If we consider:

1) 2012 Minsur paid U$505m for 70% of Marcobre SAC, the owner company of the Mina Justa copper project.

2) Then in 2016 it paid U$85m for the other 30% of the company and project ($60m cash, then 5 annual payments of $5m)

3) And now it's selling 40% of Marcobre to Chile's Copec for U$168m.

So even if we assume Minsur has spent zero on exploration, development and feasibility at Mina Justa all this time (which is silly, they've paid millions), they're already U$68m down on the deal. The issue is, of course, how to fund the approx U$1.6Bn capex bill coming up as from 4q18 when this thing is supposed to go into construction. Now they have friends to cover 40% of the upfront, they might just do it.

4/23/18

Alex Black on Tahoe Resources (TAHO) (THO.to) at La Arena

And what does Alex Black, erstwhile CEO of Rio Alto Mining (ex-RIO.to), think of the job done by Tahoe Resources (TAHO) (THO.to) at La Arena? We found out today:


Twitter really is more fun this time around, so hey come over and join in. Your humble scribe's account right here. I think that covers everything? Coffee and petit fours, anyone?

The US Dollar index chart is the only one that matters today