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Asanko (AKG): Looks like K2 Associates was right all along

A massive reserves loss at Nkram, just the way the K2 shorters predicted.


Allan Barry sure loves his booze

And himself.

You can tell when he's been hitting the sauce, too. His grammar goes to hell and like any regular drunk he gets caught in the repeat loop, saying the same stupid thing over and over again.

Reader mailbag, GMV Minerals (GMC.v) edition

While your humble scribe sneaks time away, we fill in with a bit of reader mail. Here's today's best from reader "FG", regarding GMV Minerals (GMV.v) and its news yesterday (yup he saw the crass scam in nanoseconds):


Hey Otto:

I'm sick of this shit, sick of these bullshit companies, and especially sick of these bullshit QPs who allow this type of release to make it to market. I'm a P.Geo., and I take it seriously. These asshats make us all look bad.

Just so you know, from now on, every time you shine your light on these cockroaches, I'm going to file a complaint with BCSC naming both the company, the offending news release, and the QP involved. It's not hard to do, and it takes more than a name'n'shame on a public blog to get the regulators moving, unfortunately. An actual complaint might actually get some action. (Maybe.)


Thanks FG and agreed on how little this humble corner of cyberspace can change matters. People who read IKN are normally more switched on as well, not the dumbasses who think they're being helped over at, poor dears.


And your humble scribe's work desk is...

...way over there.

See you Friday, suit-wearing people.

GMV Minerals (GMV.v): Spot the junior BS

This spotted by smart reader "A", see if you can see how GMV.v is BSsing you with its headline claim of 27.4m of 0.87 g/t gold.

Hint: look at the GMV 2016-8 drill assay further down the NR. Once you spot their scam it's so crass it's funny. There's nothing that exploreco scamsters won't stoop to in order to separate dumbis from their cash.


On the road

Posting will be light for the next three or four days. For secret reasons.


Pentanova (PMI.v) news

Word reaches this desk that Serafino Iacono isn't in a hurry to revisit Colombia, due to the fact that he's wanted for questioning by the Colombian regulatory authories about the collapse of Pacific Rubiales and the bare-faced way in which he's set up a brand new company, Pentanova, without offering compensation to the thousands of Colombians who lost tens of millions of dollars in the previous disaster.

Ecuador Presidential election: A second round run-off is now a near-certainty

The scenario is still somewhat fluid and caveats apply:
  • As per this Monday evening there are 90.2% of votes counted, not 100%.
  • President government candidateLenin Moreno has 39.09% of the votes and if he makes it to 40% + 1 vote, he wins in this round and no ballotage will be needed.
  • Main opposition candidate Guiilermo Lasso has 28.38% as per this evening and is in second place.
  • The Ecuador electoral body now don't expect 100% of votes counted before Thursday, so until then there will be a bit of tenterhooks.
However, with those taken into account and the way in which the count has developed through the 70% level and 80% level, it's now a heavy odds statistical likelihood that the Ecuador Presidential election goes to a second round run-off on April 2nd. If it does, it's going to be a very close thing for the win and the big job between the two players, because we've already seen third placed Viteri announce her support for Lasso and most of the other candidates are set to do the same. What's more, dear and kind junior mining speculator person, this whole shebang may affect you too because an eventual Lasso win would be bad news for mining stocks with Ecuador exposure. Don't say IKN didn't warn you.

A geologist demolishes the Alset (ION.v) scam (at last)

The problem with hiring an idiot as a CEO of a scammy worthless pumpjob exploreco mining junior is that when somebody who actually knows what they're talking about takes a good look at your company, not only do the promotional arguments turn to dust in seconds but the idiot at the top has no type of comeback or answer whatsoever.

For it own sake, Canada needs to euthanize this scam and all others like it. Blowhards like 100% unqualified Allan Barry require public ridicule and a guarantee that they will never soil your capital markets again. You owe a debt of gratitude to geologist DanO for shining a light on Alset (ION.v) in this solidly argued and entertainingly spleen-filled report. Go have a read.

Northern Dynasty: Ron Thiessen does BNN

From last Friday. Watch the segment right here

Personally, Ron T had me virtually at hello with his first salvo which was (and I quote), "We released an economic study in 2011 that speaks for itself". So speak to us, oh economic study!
  • A PEA (the flimsiest allowed under 43-101 rules)
  • A pre-tax IRR of 14%
  • According to the PEA a permitting track of between eight and 15 (yeah, that says fifteen) years.
  • Nobody really knows, but a capex of many many billions of dollars. Seven? Thirteen? Nobody knows! Sad!

Yup, speaks for itself. It's a bullshit project getting pumped by scumbags to idiots.


The IKN Weekly, out now

IKN405 has just been sent to subscribers. A sub-standard piece of junk that's bound to annoy everybody. Beats me how this thing has got to four hundred and five editions.

UPDATED with partial official Results: Ecuador Presidential Election: Exit polls say...

...that it's tight between two possible results:

1) Lenin Moreno (current government candidate) wins in this first round by getting at least 40% and being at least 10% ahead of the second place candidate.

2) Moreno is joined by second placed candidate Guillermo Lasso in a second round run-off, that would happen on April 2nd if necessary.

Here's the screenshot of the exit poll results from reasonably reliable pollster Cedatos:

These are nobody's idea of firm numbers, though. We'll need to see the official results roll in and it looks pretty close between the two scenarios at the moment.

UPDATE: At just before 8:30pm local time we have just been given the results of 51% of counted votes, official numbers and we're firming up towards the final score. The need to know is:
Lenin Moreno 38.26%
Guillermo Lasso: 29.86%
 The rest is noise. It's looking like a second round run-off.

UPDATE 2: Now 72.3% counted and the percentages remain very similar, Moreno 38.66% and Lasso 28.92%. This is now very likely going to the run-off.

#prayforsweden (Warning: Graphic Images)

IKN brings you images of the terrible events this weekend that have left Sweden in a state of shock.

IKN thanks the leader of the free world for bringing these events to our attention. Without the vigilance of him and his team we would never have known. 

Let's Make Ikea Great Again.

The top three most visited IKN posts this week are... reverse order:

Third Place: "Angry Geologist does Cordoba Minerals (CDB.v)". The wonderful TAG is gaining market reputation quickly. And quite right too, smart independent voices speaking truth to power is how the internet should be all the time, not just in patches.

Second Place: "The funniest bits of the Northern Dynasty (NAK) ( rebuttal to the Kerrisdale hitpiece", because once you know where (and how) to look these flimsy pump jobs are fairly easy to dissect. By the way, this one got popular because Kerrisdale picked up on it and rebounded the post to its readership, which in turn is possibly why another round of trolls turned up at IKN.
First Place: "Conclusive proof that Marin Katusa is insider trading Northern Dynasty (NAK) (" and what's more it won the hit count by a nautical mile. IKN exposes the truth behind this two-faced self-serving market parasite, feeding off the naive who are stupid enough to take him at face value and can't see his scam, by using  few of his own words. And leopards and spots etc, Katusa immediately changed his tune on reading the IKN exposé. Hypocrisy and hilarity abounds.

And a reminder: Don't visit this blog, you're better off joining the cool crowd by reading IKN via the free daily mailer.