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The Friday OT: Bill Hicks; 'Looks like we got ourselves a reader'

For CP:

Peru electricity demand continues to provide an excellent proxy to GDP growth figures

The March 2013 GDP number is subject to revision, apart from that we're good:

If you want to know how fast Peru is growing, look no further than electricity demand. Data from here and here.

Copper production in Peru

2008 to present:

As much as a note to self than anything else, just thought some of you may want to see it, too.

A flash update...

...has just been sent to subscribers, pre-open Friday morning. Two small trades envisaged.

Chart of the day is...

...the gold/silver ratio:

Which is climbing. So the new pecking order of metal love in the world is copper over gold over silver. Poor old silver, can't get no respect.


Good news for shareholders of Sulliden (

If Stan Bharti managed to convince you that Sulliden Gold ( was a good bet in 2013, we have some great news for you. You're not down nearly as much as if Bharti had convinced you to buy shares in his Belo Sun ( instead:

What, he got you into that one, too? Oh dear...

Anyway, remember that's it's not the fault of Canaccord or Dundee or Scotia or any of the other brokerages who somehow, collectively, coincidentally, were all easily convinced that covering was a really smart idea and all had juicy price targets on the stock. They were just unlucky and it's not their fault that you've lost. Right, Soupy?

Tahoe Resources ( (TAHO) security head: "Kill those sons of bitches"

Caedite eos. Novit enim Dominus qui sunt eius
Arnaud Almaric, 1209, Béziers

Away from the soft-soap crap coming from the Tahoe Resources ( (TAHO) IR department and over in the real world (thanks to continued diligent coverage of the issue from Xeni Jardin of Boing Boing) we learn just what went on the day that guards at the THO Escobal mine shot protesters outside its gates. The head of security at Escobal, Alberto Rotondo (the same one arrested while trying to flee the country a couple of days later and the very same person that THO said hadn't been arrested or charged with anything at the time) is confirmed as arrested and now charged with several counts, including violence towards members of the population and tampering with a crime scene. According to recorded audio evidence offered to the court trying his case on Monday, he ordered the guards under his control to "Kill those sons of bitches" (exact Spanish phrase used "Maten esos hijos de la gran puta") seconds before same guards shot the protesters outside. After the incident he also ordered his people to clean up any evidence of the shootings at the scene and is also accused of altering a police report on the incident.

But of course, Canadian mining companies in LatAm never do anything wrong and it's a mystery why locals sometimes show a little antipathy for their presence.

Wage inflation, Argentina mining edition

Full translation of this short report in the Argentine press this morning:

Salaries in Gualcamayo 
The Mine Workers Association of Argentina (AOMA) has agreed with the company Minas Argentinas, subsidiary of Yamana Gold, to a salary increase of 30% for workers at Gualcamayo, located in Jáchal. The rise will be 20% from May 1st and the other 10% as from September 1st.

Your "this must be a top" indicator du jour

Expect chatter.


Iwnattos watches Rick Rule on BNN so that you don't have to

I'm kind of catching up on things, including My Own Market Narrative's coverage of Rick Rule appearing on BNN.

It's worthy reading (if only to see the snark tonedown afterwards, which means Rule must have been quite good) and if I last out later tonight I'll probably watch the BNN slots linked, too.

Building a Theme Park

What mining engineers dream about:

From your humble scribe's photographic image machine yesterday. dyodd, dude.

Colombia's ELN terrorists today repeat: "Braevel ( gives up its properties, we hand back Gernot Wober"

News from Colombia on the case of Canadian geologist Gernot Wober, held hostage by the ELN terrorist group since January 18th. The ELN today repeated the message of a few weeks ago, that Gernot Wober (often mis-spelled as "Jernoc Wobert" in Spanish press for some reason) would be released if Braeval Mining ( handed back its mining concessions, or in ELN-speak, Colombia's government..., "...should speed up the return of the mineral titles to their legitimate owners, who are the traditional miners of that zone".

The communique comes after heightened Colombian government army activity in the area, suppsoedly searching for Wober, which has seen confrontations between the two sides. The ELN today also claimed that on April 22nd it had killed several paramiliaries who were searching for Wober.


On the road

Your author will be away from the office a couple of days. Meanwhile, listen to JSB more often.


The IKN Weekly, out now

IKN209 has just been sent to subscribers.

Please put down your weapon. You have 20 seconds to comply.

Impressive population map

Gleaned from here:

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