start here

start here

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


The Friday OT: Bomba Estereo; Soy yo

Colombia's finest, you can't help but hear this song all over the continent. Cool video too.

Arcade Fire have chosen Bomba Estereo as their opening act on the LatAm leg of its tour in December. They've made a big mistake, the support band is better than the star turn. Youtube here.

Mo´Santacruz (SCZ.v)

Funny coincidence:

1) Santacruz Silver (SCZ.v) gets its Vetagrande mine closed down on November 12th after a snap inspection by Mexican authorities.

2) SCZ says absolutely nothing to the market about this material event.

3) On he evening of November 16th this humble corner of cyberspace notes the events at Vetagrande (and it would have been sooner, just been busy round here).

4) November 17th, less than 24 hours after the IKN post, SCZ finally issues a NR on the closure and informs the market of this material event. Funny that, innit?

That they didn't mention the serious environmental infractions that caused the closedown and tried to pretend in the NR that it's all some paperwork thing is just another example of the way they go about their job.

Zinc One (Z.v): A no-lose trade from Vancouver

With just seven months left on the clock of the scam artist Daniel Ameduri's bet on Zinc One (Z.v), IKN now notes that the whole trade is a no-lose for the world of investment as there are now just two possible outcomes:
1) Zinc One moves up to the CAD$1.30 share price Ameduri promised his shareholders by June 2018, thereby giving us a 210% winner.

2) Zinc One fails to make it to CAD$1.30 and Ameduri keeps his promise by closing down his scam pushing waste of space, Future Money Trends, once and for all. Thereby making the world a better place and ridding the junior market of one more parasite.

And we know Daniel Ameduri is a man of his word and would never try to squirm out of a deal, right? 


Santa Cruz Silver (SCZ.v) seems to have forgotten to tell you something

Beats me why it slipped their minds. I mean, it's normally material information when the mine worth half of your total production is closed down with no warning by authorities due to the breaching of environmental and operations laws. 

Canadian junior mining companies are wondering why they have a bad reputation abroad again. Bless em.

Chart of the day is...

...the last six months of the ten year TIPS yield:

Want to know when gold goes back over U$1,300/oz? That's when the yield goes under 0.4% again. The US Dollar still rules everything. You may not like the idea but the dollar doesn't care.

Peru World Cup Finalists



Meanwhile, let's check out the illegal stuff the sociopathic Michael Ballanger has been up to

He doesn't just falsely accuse people of being child molesters, his toerag of a life is full of real live illegal activities and now, finally, they're catching up with him. At least we know why Tinka Resources (TK.v) fired him now. Link here, juice below and by the way, Ballanger is available for comment; he's the anonynous troll at the Tinka board.


1. Michael Ballanger (“Ballanger”) was a Registered Representative at Richardson GMP (“RGMP”) at the material time. In 2013 Ballanger obtained confidential information by virtue of his connections at a high risk illiquid issuer known as Tinka Resources Ltd (“Tinka”).

2. In April 2013, Ballanger failed to comply with RGMP’s policies and procedures when he committed his firm to act for Tinka in a private placement financing without obtaining prior approval.
3. In October 2013, Ballanger failed to comply with RGMP’s policies and procedures by not advising RGMP in a timely manner that he was in possession of confidential or potentially material non public information regarding Tinka.
4. Ballanger was employed as a Registered Representative with RGMP from October 2012 until his employment was terminated in September 2014. Ballanger had been a registrant since 1977 and at one point was licensed as an Assistant Branch Manager. Ballanger has not been an IIROC registrant since leaving RGMP.
5. In a discussion with RGMP’s Chief Compliance Officer (“CCO”) and followed up by a November 15, 2012 email, Ballanger had been informed by the firm’s CCO of RGMP’s procedures regarding the proper handling of potentially material or confidential information. Ballanger’s relationship with Tinka
6. At the relevant time Tinka was a junior resource exploration company which focused on the development of precious metals mines.
7. In 2012 and 2013, Ballanger had a close working relationship with Tinka’s principals and received confidential information from them about the company.
8. Ballanger had recommended Tinka to many of his clients at RGMP. Between November 2012 and July 2013, approximately 10,570,550 shares of Tinka were transferred into RGMP in Ballanger’s book of business. This number represented approximately 13% of the issued and outstanding shares of Tinka at that time. A large portion of the Tinka positions (approximately 5 million shares) were purchased via private placements at RGMP.
9. By March 10, 2014 Ballanger client positions in Tinka represented 18% of the issued and outstanding shares of the company. Ballanger commits RGMP to act for Tinka without prior approval
10. RGMP’s Compliance Policies and Procedures Manual dated June 2011 (the “Policies and Procedures Manual”) provided that the New Product Review Committee review and approve all new third party investment products including private placements for sale within RGMP.
11. On April 24, 2013, Tinka issued a press release announcing a non-brokered private placement financing of up to 2,353,000 units at a price of $0.85 cents per unit for gross proceeds of up to $2,000,050. The press release stated that “Richardson GMP is acting for the Company and will be paid a commission consisting of cash and warrants on a portion of the financing.”
12. Prior to April 24, 2013, Ballanger committed RGMP to act for Tinka in a non brokered private placement without the review or approval of RGMP and contrary to firm policies and procedures. Ballanger did not inform either RGMP’s compliance department or his branch manager of this proposed financing before Tinka issued a press release announcing the private placement, nor did he notify the firm that he was in possession of confidential and potentially material non public information.
13. Subsequently RGMP approved the above private placement after the fact and participated in this financing. Ballanger receives confidential information regarding Tinka
14. On October 8, 2013, Ballanger emailed RGMP’s compliance department about a draft press release for a proposed Tinka financing. Ballanger had not previously notified RGMP about his knowledge or involvement in the proposed transaction or that he was in possession of confidential and potentially material non public information.
15. According to the Policies and Procedures Manual, Ballanger was required to inform
RGMP’s Compliance department if he was in possession of potential inside information. Given the circumstances of this transaction, Ballanger knew or ought to have known that he was required to inform RGMP of the confidential or potentially material non public information regarding Tinka.
16. In an October 8, 2013 email, RGMP’s CCO reminded Ballanger of the firm’s procedures relating to the receipt and containment of confidential information.
17. RGMP added Tinka to its grey list on October 8, 2013 and added it to the restricted list on November 7, 2013 when the private placement financing was announced publicly. On November 8, 2013 RGMP’s compliance department sent Ballanger an email questioning trades in Tinka executed for one of his clients between October 22 and 24, 2013, as these trades were not marked unsolicited.
Close supervision by RGMP
19. RGMP questioned Ballanger further in February 2014 and when his responses were not satisfactory to the firm, Ballanger was placed under close supervision by RGMP in April
2014. At that time the following conditions were imposed:
*close supervision for a period of not less than six months;
*all new accounts were to be reviewed by branch management;
*he was not allowed to enter solicited buys in Tinka;
*he was not allowed to reference Tinka in marketing materials;
*he could not sell his personal holdings or trade in this security until all client sales were satisfied and,
*he was to develop an exit strategy for this security, to be presented to management within 30 days.
20. In early June 2014 Ballanger met with the compliance department and was reminded that he was to do the following:
*prepare a written plan for the disposition of Tinka;
* not to discuss investment recommendations on social media;* bring receipt of non public information to the attention of the compliance department and,
*all marketing materials should be pre approved.
21. Ultimately the Respondent did not present an exit strategy for Tinka to RGMP. Ballanger’s employment was terminated by RGMP in September 2014 before the close supervision period had ended.

Meanwhile at the Colombia Gold Symposium... excellent two days of presentations and conferencing is being had by all, with site visits scheduled for the rest of the week. However, even though just about every presentation has been well delivered and interesting one of them stands out head and shoulders above the others. Expect a discussion on that in The IKN Weekly on Sunday, subbers.

PS: Some really interesting information about Michael Ballanger, too.

Atico Mining (ATY.v) down due to misinformation

Yes, Atico Mining (ATY.v) has slid right down to 57c.

Yes, the drop is likely due to word out of Colombia that the road to the mine is being blocked by locals.

But no, it's nothing to do with the company. The roadblock is due to a strike action by local farmers against a regional government policy on agro matters and has nothing at all to do with mining in general or ATY in particular. The mine is operating normally and workers are allowed to enter and leave the mine as per normal, too. Don't believe all the rumours you hear, people.


Asanko (AKG)

Don't say you weren't warned.

Primero Mining ( IKN wins a wager

Primero: Buys Cerro Del Gallo in 2012 for C$119m. Sells Cerro Del Gallo in 2017 for U$15m. Winning.

I've had a U$50 bet running with reader/pal 'MK' for the whole of this year and I just won it. The theory behind my choosing of Argonaut ( as the eventual buyer of Primero's ( Cerro del Gallo is that it would take a company that's 1) larger than and also 2) even more inept and stupid than P to pay real money for that waste of concession paperwork and when it comes to Mexico, there was only one candidate.

MK, expecting your mail, sir :-)

Zinc mailbag

I get this mail asking me why zinc has stalled and why it isn't going higher:

Some people are never happy.  Vancouver promoters continue to enjoy an endless supply of cannon fodder, though.

Chile: The Presidential election and the Dominga project

From IKN443, last Sunday:

Chile: The Presidential election and the Dominga project
Two things from Chile that are extremely unlikely to be coincidental. Next Sunday November 19th sees the first round of the Chilean Presidential election and the final set of voter polling shows ex-President Sebastian Piñera still way out in front with 45% (12). If it works out that way it won’t be enough to get him the win in round one, but it’s more of a case of him putting the champagne on ice until the run-off vote December 19th than anything else (and by most reports (13) he was the winner of last night’s final candidate debate on live TV, too).

The second matter is that of Dominga, the U$2.5Bn iron ore project located near the coast in the centre of the country owned by Chinese private capital company Andes Iron which had its EIA permit denied in August this year due to it adversely affecting a colony of Humboldt penguins nearby. At the time of the denial it was considered a win for the environmentalists (it’s always been a controversial project) and a loss for the Chilean mining world and it was, of course, all under the centre-left government of the outgoing Michelle Bachelet. As reported on these pages at the time, Bachelet saw her Finance Minister resign due to the decision (made at cabinet level, but now this weekend we hear that (14) (translated), “Experts Indicate That Environmental Evaluation of Dominga Has Still Not Finished”, that the company has the right to lodge an appeal and the decision if necessary will go to the Supreme Court. Etc etc.

In so many words, the upcoming right wing government will green light this project and the left in Chile will have something to complain about. We should at least ask the Humboldt penguins (for what it’s worth, native to the Chile and Peru coasts and listed as a vulnerable species rather than endangered)if they’d like to move house before it starts, though.


This blog will have reduced amounts of posts for the next few days

For secret reasons.


The IKN Weekly, out now

IKN443 has just been sent to subscribers. No bull.