start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)


The Angry Geologist explains S.H.I.T. Intercepts

Pretty damned wonderful post from my favourite blogger. This bit...

The nice thing about SHIT intercepts is that for the FAG (the Fraudulent Angry Geologist) they give you an opportunity to pad your PR with some MAXIMUM IMPACT (tm) BS, by letting you:
  • Report a nice high-grade SHIT intercept - everyone loves those
  • As a bonus you can call it a new "structure" - have some fun, name it after your girlfriend
  • Even better - as you only have a single hole, it is "impossible" to calculate a true width, because, you know, GEOLOGY!!! my introduction to the word 'chimping' right afterwards, made me laugh so loud it scared the dog. Go see for youself right here.


Everything Is Awesome!, Santacruz Silver (SCZ.v) edition

IKN quotes Arturo Préstamo, Pres/CEO of Santacruz Silver (SCZ.v), in today's 4q16 production report:
"We are excited to see the results of our efforts over these past months coming to fruition..."
Bless his heart. Here's the last six quarters of production at its main Rosario mine:

And oh yeah, there was this as well. You need to scroll down quite a lot under those boring tables full of numbers, but when you do...
Management Change
The Company advises that it has appointed Dante Rodriguez as Interim Chief Operating Officer, replacing Cesar Maldonado as COO.  Mr. Maldonado has agreed to remain as a consultant to the Company.  The Company wishes to thank Mr. Maldonado for his valuable contribution to the Company during his tenure as COO.
Mr. Rodriguez has most recently held the position of Vice-President, Exploration for the Company's wholly-owned subsidiary, Impulsora Minera Santacruz, S.A. de C.V. see the COO has been fired but hey, fergeddaboutit. Everything is awesome in junior world. Everything.

Dear Keith Barron, it's "las" manos, not "los"

If you're going to fake knowledge of Spanish, Keith, fake it right. From here:

“For any geologist, putting this kind of historic narrative together with good geology is very, very compelling, and it’s incredibly fun to be doing it,” he says.  “It’s like a dream come true. At the end of the day, I don’t know what we’re going to find, maybe nothing. It’s in the hands of the Gods — Los Manos de Dios — but all the indicators are there, and, as exploration geologists, this is what we do. We work on hunches, we sift through evidence, and sometimes we work with historical narratives, as well.”

The Friday OT: BT; Tripping the light fantastic

Not the first time it's been the Friday OT. But that's not my fault, I'm powerless to resist.

A couple of people close to me know how this thing has turned into a full-blown obsession. Brian Transeau (BT) at his zenith and here and now, 22 years after it was recorded, still sounds way ahead of its time. Amazing sounds, play loud don't spare the woofers, it's the all-time definitive trance track.

Tr-i-i-i-i-i-p hey yeah
Tr-i-i-i-i-i-p hey yeah
Tr-i-i-i-i-i-p hey yeah
Tr-i-i-i-i-i-p hey yeah

Youtube here.

In The IKN Weekly this Sunday...

...a new reco on an overlooked and compellingly valued gold mining company. Just the way I like 'em in fact, I plan on being in early on a stock that could do nothing for a few months and then zoom very very high. Or to quote Rick Rule:

"It’s important to measure whether you have the financial and the psychological strength to be early. But the truth is the contrarians—successful contrarians are always, always early."

See you Sunday for IKN410, subbers.

The Alset (ION.v) scam: You have no further excuses...

...under the long-tested adage, "Fool me once shame on you, fool me twice shame on me". Anyone stupid enough to walk headlong into this obvious pumpjob after what we saw yesterday...

...a price and volume spike on "news" that the company has received its drilling permits*, deserves everything they get from following companies run by unqualified scam runners like the ridiculous lip-flapping moron Allan Barry. Seriously, if you can't see what's going on just by looking at that chart and harbour even the minimal inkling that Alset (ION.v) offers you a trade potential, you need to walk away from this whole sector immediately and never return, for the financial sake of your children. Do Not Feed The Animals and be very clear, the people running this scam job, i.e. the Stares brothers and their lumpenprole useful idiot Barry, are prime examples of the animals to avoid.

*Top tip for greenhorns: receipt of drill permits has never been, is not and will never be market-moving news. It's what juniors are supposed to do, because the only other alternative for an exploreco to receipt of permission to drill is a one-way street to nowhere land.


Hard-working junior mining CEOs, Mark Moseley-Williams edition

You can tell how seriously Mark Moseley-Williams takes his job as head honcho of Eco Oro Minerals ( His company...

1) currently facing a shareholder revolt and legal actions up to its wazoo
2) in international tribunal dispute with Colombia
3) ...has failed to do a single thing of worth since his arrival

...and his reaction is...

That's from Mark Moseley-Williams' Facebook page. Looks like he could do with laying off the pies, too. Take it easy on the fruity rum punches there, Mark.

Poor little hard done by pump artists

Plenty of moaning and groaning being picked up by this humble scribe about the way gold is up this week (GLD up 1.4% since last weekend) but the juniors miners haven't followed suit (e.g. GDXJ down very slightly since the weekend). Well that might be true for you, follower of crap stocks and BS pump jobs, but over at The IKN Weekly Stocks to Follow list just four of the 15 junior mining stocks covered are down on the week. Another two are unchanged, then nine are showing gains since last weekend. Quite a few of those winners showing decent percentage differences, too. I feel for you all, I really do. Not.

For more information on a decent selection process for juniors, rather than chasing the waste of space pumpjob fed to you by Scamsberry or the two-faced scumballs who "only want to help you" at, see the IKN flowchart:

IKN recommends: The new Colombia Gold Letter blog

Good news for all those looking for more mining news from Colombia. Paul Harris of The Colombia Gold Letter has started a side-by-side free access blog to run alongside his premium monthly letter. Read the very first post on his site right here, "Getting Things Done", out today.

Paul has become known as "Mr. Colombia" in the mining world, thanks to his unbeatable knowledge on the country's mining sector. With his new blog he'll be able to show that expertise off to even more people. Go visit.

Tahoe Resources (TAHO) ( The decimation of shareholder value caused by Kevin McArthur's empire building designs

This is what happens when somebody who got lucky with timing actually fools himself into believing he got rich because he's smart.
In February 2015 when Tahoe Resources (TAHO) ( bought Rio Alto Mining, it was an all-paper deal framed at a ticket price of U$1.09Bn. TAHO issued 75.991m shares to close the deal. Those shares are now worth U$557m.

Then in February 2016 when Tahoe Resources (TAHO) ( bought Lakeshore Gold, it was another an all-paper deal framed at a ticket price of U$569m. TAHO issued 69.239m shares to close the deal. Those shares are now worth U$507.5m.

And during the whole period, from before the Rio Alto purchase until today, TAHO has added 163.7m shares to its count. As for market cap, that's gone up by less than $200m.

Further questions?

Silver Wheaton (SLW) is still a tax cheating company

Randy must think he's really really clever.

Back in 2015 this humble corner of cyberspace noted, in the midst of the new hoo-hah around the Canadian tax people putting Silver Wheaton (SLW) under tax evasion investigation, that SLW contributed virtually nothing in the way of taxes despite its multi-billion dollar market cap (and very unlike peer company Franco-Nevada (FNV), a company that plays fair with the tax man. Therefore it's sad to report that SLW is still cheating the tax man. Here's a chart that shows the amount of pre-tax earnings, tax paid and net earnings over the past six years at SLW:

Impressively, the tax cheats run by Randy Smallwood have managed to book U$1.756Bn of pre tax earnings and pay just U$12.2m on that sum, a corporate tax rate of 0.7%. There should be a law...wait, there is!

Funny how Randy "owns his decisions" but feels no obligation whatsoever to his country.


Keith Palmer


Starcore ( You heard it here first

Yesterday afternoon before the markets closed, in fact. IKN's kung fu is good.

March 22, 2017

Starcore Closes C$13.50 Million Sale of Real Estate Asset in Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 22, 2017) - Starcore International Mines Ltd. (TSX:SAM) ("Starcore" or the "Company") announces that it has closed the sale of its San Pedrito Property, a non-core asset located in Queretaro, Mexico for C$13.50 million* (MXN$ 192,784,331)

Continues here.


Fortuna Silver ( (FSM): A question of timing

This humble corner of cyberspace found it very interesting that this news was released...

...on the day after a whole roster of insiders of Fortuna Silver ( (FSM) filed that they did this:

Pretty impressive. First insiders cash in 569,838 RSUs of FVI and turn them magically into dollars (around CAD$4m of them in fact), then it's "yeah fine, no biggie...just the SEC investigating us and we can't file out annuals...don't worry about it". And to take the chutzpah to that extra level, just after dumping over half a million shares on the market they tell us they'll do the right thing and slap a management cease trade order on themselves if the annuals are delayed.

Starcore Intl ( about to announce good news

They've closed the real estate deal, this desk hears.

Peru weather news and views (from IKN409)

Find below a brief comment that was carried in IKN409, last Sunday evening, on the weather situation in Peru as pertains to the mining industry. Since Sunday evening we've heard of Force Majeur decrees from several mining companies due to the blocked and washed out road infrastructure.

Peru weather news and views
The bad weather that’s hit Peru so far in 2017 has got much worse in the last week or ten days, with selective emergency decrees being issued by the government for areas badly affected, schools closed until further notice, roads blocked all over the place and landslides/mudslides/river flooding killing people and making headline news, even on a world level.

Things are pretty bad generally but part of the brief of The IKN Weekly is to be hard-nosed and mining-focussed so I’m not going to go too deeply into the human and country cost angles, here we think mines and here’s the need-to-know:

  • Not all of Peru is affected and even in the heavy rain zones, impact will vary. Most of the big infrastructure problems have been in the strip of geography between the coast and the highlands, with floodwater running down the mountains and causing havoc to people and residences, rather than mining company assets directly.

  • Some main artery roads are cut off at the moment, due to floods, landslides and bridges being taken out. Of chief concern this weekend are the roads that lead up to mines in the Ancash/La Libertad/Cajamarca provinces in the North (e.g. La Arena, , Shahuindo, San Simon, Michiquillay) and the Central Highway that runs up the Cordillera from Lima (e.g. Toromocho, Volcan’s mines, Coricancha, La Oroya, plenty of others). Those roads are blocked this weekend and traffic is zero, but as long as the forecast holds and rains die down as from Tuesday, logistical problems are likely to be temporary and not affect mining operations too much.

  • However, heavy rains typically affect open pit heap/dump leach operations and we may see warnings on production from mines in those areas. Either that or excuses offered when quarter-end production numbers are announced.

My best advice is, don’t assume the worst. If you have exposure to producer companies in Peru, call the IR department and find out the on-ground situation for them, rather than guess the mine’s been flooded or totally closed.


Another day of zero content...

...on this blog. For secret reasons.


The IKN Weekly, out now


IKN409 has just been sent to subscribers. Surf's up.