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Smart phone. Dumb human.

This is an interesting paper. 

The mere presence of your smartphone reduces brain power, study shows

Date: June 23, 2017
Source: University of Texas at Austin (UT Austin)
Summary: Your cognitive capacity is significantly reduced when your smartphone is within reach — even if it’s off — suggests new research.
Here's an extract from the abstract:
"The findings suggest that the mere presence of one's smartphone reduces available cognitive capacity and impairs cognitive functioning, even though people feel they're giving their full attention and focus to the task at hand. "We see a linear trend that suggests that as the smartphone becomes more noticeable, participants' available cognitive capacity decreases," Ward said. "Your conscious mind isn't thinking about your smartphone, but that process -- the process of requiring yourself to not think about something -- uses up some of your limited cognitive resources. It's a brain drain.""

Thank you reader B for passing it on. Full thing here.

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

Third Place: "Goldcorp's (GG) bizarre and highly suspicious sale of Camino Rojo to Orla Mining (OLA.v)". The bit about the goat got good mail feedback.

Second Place: "IKN has a question for the TSX(v) regarding Cordoba Minerals (CDB.v)...". Sometimes a bit of straight talk is all that matters. For bonus info, this post a day later gives rthe scuttlebutt (which both HPX and CDB deny, by the way. Oh how we chortled).
First Place: "Some advice for Mark Attanasio and Donato Sferra". Always amazes me when the dregs of Canadian society go the whiny denial route when found out about their scumbaggery. And they litigate in nanoseconds, too. Scum is scum.


The Friday OT: Soda Stereo; En el Séptimo Día

It kicks off their seminal album 'Canción Animal'. it's the name of the Cirque du Soleil gig getting rave reviews all over South America, it's a kick-ass tune. All hail Cerati, Zeta, Charly, the continent's finest group ever.

Youtube here. And if you don't like da igual, me da igual.

Extra ball: This kick-ass live version from stars they were the best.

The Alset (ION.v) scam: Still no news on the samples

Alset (ION.v) delivered its samples for assay on May 12th. It's now June 23rd, which means we've been waiting six weeks for the results and to give you an idea of why that's suspicious here's the real deal on lab turnaround times in Zacatecas, from long-term IKN contact "M" (who has worked for serious mining companies for decades) who lives in works in that area of Mexico and was kind enough to write into IKN Nerve Centre yesterday:

Comment on the Alset post: if they are using ALS Chemex, they have a prep lab in Zacatecas, 50km (about an hour) from the project. Turnaround time for similar samples, 2 to 3 weeks. I know this, the last sample I sent there took three weeks (over Easter). The lab can prep several thousand samples per day.

This may be the difference between a junior exploreco run by a qualified person and a company like Alset run by a CEO with no qualifications whatsoever. Not a geologist, not an engineer, not a lawyer, just a gum-flapping stock pumper who got a gig from a scam company and is there to throw sequins into the eyes of the dumbasses on*. Alan Barry, take a bow.

* Seriously, you ought to see it, he's on that chat site 12 hours a day 7 days a week. Tell me, what serious CEO has the time to dedicate to gum-flapping on a scammer's central bullboard?

People buying Belo Sun ( today...

...probably don't realize they're buying a company that's still legally barred from building its mine. The blocking order that was overturned yesterday is the easy one to annul. The big one is still in place.

Cannabis Wheaton (CBW.v) fun

So let me get this straight: Cannabis Wheaton (CBW.v) runs its crazily priced $50m placement that was supposed to close on June 21st, then after two days of zero updates they announce that the terms have been changed, the placement is now $60m (plus a 15% overallot that could take it to $69m) and the close date is now June 28th. Well all that's perfectly normal and not suspicious at all, right?

Meanwhile, we can confirm that over at Eight Capital, the brokerage in the centre of this scam, Mark Attanasio has been fired from the company. For being a twat. But the funny one is Attanasio's partner in slime Donato Sferra, who was asked to leave but as a partner, simply refuses to go (he says he did nothing wrong, the fucktard). Must be just the best working atmosphere over there...

Gold up $10/oz...

...since the "Gold ready to rally" post a couple of days ago:

There's more to come, it'll go to U$1,300/oz but big question is whether it breaks through that line in the sand this time. The game's afoot.


TEDtalk: George Salamis: Mining Disruption, An Overview

Interesting stuff from one of the Integra Gold guys. Skip the intro and pick it up at the two minute mark:

Youtube here.

Goldcorp's (GG) bizarre and highly suspicious sale of Camino Rojo to Orla Mining (OLA.v)

Consider some facts:

  • In late 2009 (closed Feb 2010) and after beating out Penmont for the prize, Goldcorp (GG) paid C$308.5m in cash for Canplats and its Camino Rojo project ($4.60 a share plus a 20c valuation on the spin-out).
  • At that time, Camino Rojo had an all-categories 43-101 resource of 3.44m oz gold (and no reserve, see below).
  • On its books, GG folded Camino Rojo into the carry of its nearby Peñasquito mine, which made sense because the plan was to use Camino Rojo as a new source of feed for its big mine. However, it means that we on the outside can't track how much money GG spent on developing Camino Rojo over the seven years of its ownership. (Edit: See update).
  • However, there's little doubt that GG has sunk plenty of cash into the development of Camino Rojo. That we know because now, GG has it on its books with a 1.7m oz gold reserve and a M+I resource of 7.5m oz gold. That kind of resource bump-up costs serious money to achieve.
  • It's no secret that GG under Garofalo has wanted to get shot of Camino Rojo, a whole bunch of news reports in December last year told how GG had hired Scotiabank to look for a buyer. However, at that time and according to analyst estimates Camino Rojo had a ticket price of around $200m.
  • Yesterday, Orla Mining (OLA.v) agreed to buy Camino Rojo. The price; 31.9m shares, plus a 2% NSR. As OLA.v is a $1.30 stock today (it popped from $1.10 or so on the news) those shares GG gets are worth around C$41.5m right now. 
  • The Chairman of OLA.v is Chuck Jeannes, who was CEO of Goldcorp between 2009 and 2016. In other words, Chuck bought Camino Rojo for over C$300m, spent untold millions of GG's money on its development afterwards (Edit: see update) and now gets to buy it for his new company for a pittance of paper. 

WTF? Seriously, WTF is this? Does Chuck have photos of Garofalo in bed with a goat? How the hell can GG shareholders let this deal happen at such a low price? How the devil can the Canadian regulatory authorities give this a green light?

UPDATE: According to Chuck Jeannes on the OLA ConfCall, GG spent another $150m on drilling and development of Camino Rojo.

Atico. IKN420. VMS.

Here's a snippet from The IKN Weekly IKN 420, dated June 4th 2017:

"...a juicy and well-sourced piece of intel passed my desk this week, as apparently the ongoing drill program at El Roble has hit some real paydirt in the form of a high grade VMS intersect in a new and previously untapped location near to the mine. I don’t have exact details but I did hear that this intersect if confirmed after assays represents a new VMS lens. This fits right in with the geological theory that ATY has maintained since buying into the mine."

Here's how the NR out of Atico Mining (ATY.v) today started:

"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 22, 2017) - Atico Mining Corporation (Atico" or the "Company") (TSX VENTURE:ATY)(OTC PINK:ATCMF) is pleased to announce the discovery of a surface exposure of a copper-rich massive sulfide, cropping out some 130 meters north of the El Roble mine mineralization."

Further questions?

Macquarie bank faces class action over advice on worthless Brazilian mine project

A sell side brokerage guilty of pumping worthless mining stocks to its clients? SURELY NOT!

 Reader 'G' was kind enough to send in this link. Here's how the report starts:

Macquarie Group faces a major class action over allegations some of its investment advisers artificially inflated the price of a small mining company before a sudden collapse wiped out many of its investors.
The investment bank's brokers are accused of deliberately "ramping" stock in Cleveland Mining Group by playing a key role in the acquisition of a Brazilian iron-ore mine project with a potential value of $34 billion that turned out to be a worthless patch of jungle.

Read it all here.

It's so bullish for gold stocks out there...

...that even Red Eagle is going up.

The Cannabis Wheaton (CBW.v) $50m financing was supposed to close yesterday...

...but so far there hasn't been any news on the closure.

There's unlikely to be any problem.


IKN was wrong about Peru FinMin Alfredo Thorne on June 12th

When this humble corner of cyberspace stated on June 12th that Peru's Minister of the Economy and Finances, Alfredo Thorne, would be fired that week (for being caught lying), this humble corner of cyberspace was wrong. By three days.

The news tonight (translated):
"Minister of the Economy and Finances, Alfredo Thorne, today Wednesday lost the Congressional Vote of Confidence and resigned from his post"
Further questions?

Gold ready to rally

The 10 year TIPS yield chart. K.I.S.S.

Nuff said.

There will be no more posts on this blog today

For secret reasons.

Cordoba and the TSX

Here's the juice: It seems that the TSX is actually doing its job for once and is objecting to the terms of the CDB/HPX deal. The deal did get pre-approval from the TSXV before being announced, but what they didn't disclose beforehand was the bullshit sweetheart placement terms that gave Friedland's chosen pals a cheap way in, to the detriment of current shareholders. As CDB is basically owned and run by Friedland, the TSX complaint is of a lack of fiduciary duty towards current shareholders and are objecting to the way in which people like Sprott USA are being favoured.

The TSX (V) wants CDB to drop the placement. Friedland is having a fit of pique and refusing point blank. This could take some time.


Minera IRL: Filed in Lima this evening


Minera IRL files Arbitration claim against COFIDE with Lima Arbitration Center

LIMA, PERU - (Marketwired – June 20, 2017) - Minera IRL Limited (“Minera IRL” or the “Company”) has filed an arbitration claim against Corporacion Financiera de Desarrollo (COFIDE) with the National and International Arbitration Center of the Lima Chamber of Commerce. The submissions of the parties (MIRL and COFIDE) must not be publicly disclosed in accordance with the Arbitration Regulations of said Center that require the confidentiality of the procedure.

The intention to commence the Arbitration was announced by Company press release on June 06 when it also announced the precautionary measure court order granted in favour of the Company that suspends any execution procedure by COFIDE against the Company regarding the payment of the US$70 million Bridge Loan. The Company has stated that the purpose of these actions is to protect the Company’s assets and investments on behalf of its shareholders, communities and employees.

Cristina Fernández de Kirchner

Anyone who watched the rally put on by Cristina this afternoon* will know, without a shadow of a doubt, that the English language commentators and anal ysts up North who have written her off as a spent force in Argentine politics are as dumb as a bag of nails about South America. And if Macri isn't quaking in his boots this evening about October and beyond, he's just as dumb.

For an excellent, concise and perceptive post on CFK today and what it means for the future of Argentina, check out this by Abel. 100% agreement here.

*e.g. me, and no matter what your political stripe might be it was awesome television, a masterclass of politicking.

IKN has a question for the TSX(v) regarding Cordoba Minerals (CDB.v)...

...and it is a simple one:


Freakin' clownshow.

Updating on the Agnico rumour

Yesterday we ran this post on an unconfirmed report that Agnico had suffered another robbery at its Mexico operations. Since then the company has told both IKN and other sources that the rumour is false and all operations are normal. So there you go.

B2Gold (BTG) ( Everybody loves Kevin

The results of the B2Gold ( (BTG) AGM voting on directors:

Kevin Bullock, who came on board when B2 bought out Volta a few years ago, only just scraped in with nearly 300m votes going against him. Hey I dunno, maybe they don't like engineers there.


Another gold robbery at Agnico Mexico?

Apologies for the question mark in the title, I don't like them either but this news is so far unconfirmed (feel free to mail in if you can confirm or deny).

Word has it that Agnico in Mexico has seen one of its mines robbed again (they got done in July 2016 too) and a month's worth of production left the mine in the hands of a band of heavily armed nastymen this morning. The La India mine to be, same one as last year.

Some advice for Mark Attanasio and Donato Sferra

If you don't like being called slimy and crooked, stop doing slimy and crooked things. 

You'll note that Attanasio lost the CEO's job at Eight Capital earlier this month, precisely because he was caught with his hand in the slimy and crooked cookie jar. And his partner in slime Sferra, the other guy with tens of millions of secretly held shares in Cannabis Wheaton, is just as bad.

Anyway, they made Stockwatch today. Here's the link, here's the full text:
Eight Capital men look to identify on-line detractor
2017-06-19 10:33 ET - Street Wire
by Mike Caswell
Toronto businessmen Mark Attanasio and Donato Sferra have filed a case in the Supreme Court of British Columbia in which they are looking to identify a Stockhouse forum poster who called them slimy and crooked. They say that the user's post was false, malicious and entirely defamatory. They are asking that the court order Stockhouse to hand over identifying information.
The case is contained in a petition that Mr. Attanasio and Mr. Sferra filed at the Vancouver courthouse on June 13, 2017. The two men identify themselves as the operators of Eight Capital Partners, a broker-dealer that was formerly known as Dundee Capital Partners. They are seeking the identity of a Stockhouse user named "MadeIn86." According to the petition, that user was behind a single defamatory post that appeared in the Stockhouse forum on June 5, 2017. It was under the section for CBW, which is the symbol for Cannabis Wheaton Corp.
The post, as described in the petition, accused Mr. Attanasio of achieving business success through theft and "back room dealing." It said that he impregnated his former boss and received a promotion as a result. The post called him "one of Bay Streets worst." As for Mr. Sferra, the post said that he gained his position at Dundee's predecessor by having sex with the head of human resources. The post also accused Mr. Sferra of causing a "deep dive catastrophe" at Dundee's predecessor and of causing many valuable employees to depart.
Included with the petition is the full text of the post that the men are complaining of. The post is titled "The Criminal Chuck Got in Bed With" (with "Chuck" presumably being Cannabis Wheaton chief executive officer Chuck Rifici). The post began with Mr. Attanasio, accusing him of "banging his boss at National Bank as a young trader" and of improprieties related to an organic food company called Blue Goose Corp. He and the company's president "connived to purchase land properties and assets at ridiculously inflated prices they owned secretly ... even though the land and assets were of no use to Blue Goose Corp.," the post read.
"When the scheme was about to be blown wide open Mark Attanasio decided to 'blow the whistle' as an informant to save his skin. Ned Goodman, the owner of Blue Goose Pure Foods decided to offer Mark Attanasio a position in Dundee Corporation keeping him safe as a whistle-blower, and offer him a chance to fix the mess," it continued.
The post, as quoted in the petition, also referred to Mr. Sferra at some length. "One word describes this guy very well. 'Slimy'. I'm talking back of the KFC deep fryer Slimy. All you need to know now is he drew up a clever strategy to slither his way from the Sales desk of Dundee Securities to the Mining Investment Banking Team while banging the head of HR Naomi Ruby whose husband found out about the affair and divorced her recently," the post read.
The post then went on to explain how Mr. Sferra "caused so much havoc" that many of Dundee's best employees left and set up a competing firm, Maxit Capital. "Bright minds like Bob Sangha, Brad Ralph and upcoming young wiz's like Mike Spencer and Stanley lu started Maxit and quadrupled their deals and earnings in less that a year of opening shop while Dundee Securities went for a deep dive catastrophe," it stated.
"Anyone who was at a mid-senior level can verify this details I just disclosed. It would take a couple of thick books to write up the craziness at Dundee that spawned such a collection of slimy, crooked dealing characters that exist today," the post read.
Mr. Attanasio and Mr. Sferra claim that the post has caused serious injury to their business and personal reputations. They say that they have sought assistance from Stockhouse to identify the author, but Stockhouse will not release any identifying information without a court order. For that reason, they are asking that the court enter an order directing Stockhouse to release all such information, with that information to include any IP addresses associated with the user's account.
Vancouver lawyer Robert Deane of Borden Ladner Gervais LLP filed the petition on behalf of Mr. Attanasio and Mr. Sferra. The case has yet to go before a judge.


The Alset (ION.v) scam: It's been five weeks...

...since the company sent brine samples to the lab for assays, but strangely we've had no news at all despite this type of sample being one of the easiest in the geological world to test. They results must be really really really really really good.

Rick Rule's Midlife Crisis, part one

It's just not enough for Rick Rule to be stinking rich, he's now jealous of the young upstart whippersnappers like Marin Dracula Katusa or the proven securities fraudster Porter Stansberry and the success they've been having in cornering the dumbass greenhorn money. It is, therefore, IKN's solemn duty to document Rick Rule's descent into public midlife crisis and that series starts today with...

...yeah, I'm not joking, it's at the top of this pumphouse informercial link. Yes indeed Barnum fans, you too can spend the modest outlay of just three thousand dollars to find out what's on Rule's mind this week.


The IKN Weekly, out now

IKN422 has just been sent to subscribers. 16,000+ words on 30 pages. Usual guff and nonsense.

B2Gold news

A Mali tourist resort is under attack.

A Father's Day present

My youngest made me this:

She picked out a cool pebble and painted it with a design on either side, as well as around the edge. It's really nice.

Happy Father's Day.