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2/26/20

The Clive trolls Mark Bristow at BMO

Those two should meet in the bar later on this evening, chat about hobbies and stuff.



For more on how B2Gold is helping the rhinos of Africa, see here.
For more on how Mark Bristow is helping to wipe them out, see here.

Regulus Resources (REG.v) management must be happy to be doing some volume today, right?

Right?

If you visit the booth at PDAC, send the REG IR department IKN's best regards and ask them when they plan to start working for their shareholders instead of just getting paid by us.

Otis Gold (OOO.v), 2020 year-to-date

It probably sounded like a grand idea for Otis Gold (OOO.v) to hook up with a larger producer. Here's the Feb 24th NR title:


And indeed, for a whole day it looked quite good. Here's ResourceWorld Magazine on the deal, dated Feb 25th:




However, the only people who have made out are the sellers on the news:


Probably because an all-share deal with a pitiful excuse of a mining company that has known nothing but abject failure on all its projects and operations for years isn't anything to be proud about.

Ask Gwen Preston about Scott Gibson

At the end of the Mining Maven's hastily produced pump spiel on IsoEnergy (ISO.v) today, you get her two-faced and loophole filled disclaimer:
Gwen Preston writes about investment moves in her own portfolio in the newsletters published by Maven Publishing Inc. Maven Publishing and/or Gwen Preston may participate in financings by the companies that are covered. Maven Publishing and/or Gwen Preston do not receive any cash or stock-based compensation whatsoever from companies covered in Maven publications. Maven Publishing and/or Gwen Preston may own securities of the companies covered and may make purchases and/or sales of those securities in the open market or otherwise.

Anyone dealing with this woman should ask her this:
"What is your business relationship with Scott Gibson? And how much did Gibson and/or his companies get from the mining company in question before Gwen Preston suddenly decided to write about it?"

And ask Eric Coffin too, while you're at it. These are pay-to-players hiding their true interests away from their readership.

2/25/20

Guyana Goldfields (GUY.to): Mind the gap

This is not good at all. Unless you're short the stock:

The Company has concluded that waste stripping needs to be suspended temporarily to allow ore production from the bottom of the current pit. Going forward, the Company now expects that ore production from the open pit mining will be interrupted for between four and six months, starting in the second quarter of 2020 and resuming at the end of the third quarter of 2020, as we focus on waste stripping.


The POTUS impeachment drama returns


The Fraser Institute hates Canada

Here's the quote:

"This year’s Annual Survey of Mining Companies finds that, for the first time in 10 years, no Canadian jurisdiction ranks in the top 10 for “investment attractiveness” according to mining executives and investors."

And here's where to get all the info.

Manifold advantages of Covid-19

Wipe out Boomers just as they start to become a real burden.

Nobody will negatively judge your work ethic if you miss PDAC this year.

Business class is suddenly cheaper.

Facemask protocol allows you to tour PDAC without being stopped every five minutes by geologists.

Time your booking right and get four weeks in a top five star luxury hotel for the price of a cut-price midweek break.

Vancouver's finest oriental restaurants are easy to book and offer substantial discounts.

Nobody cares about US Politics for a week.

The word 'stonks' has disappeared.


PS: I know that I am supposed to be nervous, or panicking, or selling my equity exposure or something like that, but the mathwonk in me just can't do it. That's because the mathwonk in me knows that 80,000 people have been infected in Wuhan, the numbers of new infections are dropping by the day and the number of new recoveries has been significantly higher than the number of new cases for the last week. That is in a city of 11m people, so how can the western scaremonger press corps predict "between 40% an 70% of all humans will catch Covid-19"? Do the math on what has already happened (in a place that didn't known it had an epidemic-level virus in the air until way after the fact), lily-livered gringos are going to have to do a lot better than that to scare us normal people.

I'll leave the last word to Chopper, replace "Australia" for "World".


If the Anzacs were around today, I reckon they'd be fkn spewing.

I have never used the phrase "cow turd" in my life

Clearly mistaken, Gary. Fake news!

New Gold (NGD): Anita Soni of CIBC makes an early claim for Dumbass Analyst Call Of The Year 2020

Don't worry Anita, there will be plenty of competition. Anyway Anita Soni CFA, February 13th 2020 on New Gold (NGD)

"As of February 13, we are downgrading our rating on New Gold from Neutral to Underperformer and revising our price target from $1.20 to $0.60 after revising our model based on the updated LOM plans and updated reserves and resource estimates provided by New Gold today."

The New Gold (NGD) price chart:


Further questions?





2/24/20

Excellon (EXN.to) faces reality at La Platosa...

...and buys Otis Gold (OOO.v) and the Kilgore project. Probably wise, considering how it's all worked out.


Back to the drawing board, guys.

Argonaut Gold (AR.to) impairs half its market cap

You have to scroll down the YE results NR to get to the fun paragraph as they don't seem to be too keen on this info at the top of the missive. But make the effort, because when you do...
There were two significant impairment write downs in 2019: first, a write down of mineral inventory at the El Castillo Complex ($15.4 million) and La Colorada mine ($12.1 million) primarily related to changes in the expected recovery of gold ounces in the leach pads and second, a non-cash write down of the book value of the San Antonio project ($111.0 million) following the denial of the permit application. The associated tax impact of these, along with other results from operations, was an income tax recovery of $15.4 million compared to income tax expense of $6.7 million in the same period of 2018.

...you get to read how a C$276.5m market cap company has just written off assets to the tune of U$111m. That's over half its current market cap in Loonie terms.