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10/6/18

The top three most visited IKN posts this week are...

...in reverse order:
.
Third Place: "Continental Gold (CNL.to), the Colombia Gold Symposium and IKN". The only post worth reading on the blog this week, I'm glad it made the weekend frame.

Second Place: "The unbearable lightness of being a Novo Resources (NVO.v) skeptic". I still find it hilarious when I get lectured by NVO longs on how stupid I am about this stock. The same people who told the world to buy NVO at $8, at $6, at $4, all the way down to its current $2.72. Their lack of self-awareness is incredible, their arrogance unsurpassable.

 
First Place: "The Brian Paes-Braga extortion strategy for muscling in on junior mining companies". You want a cleaner capital market, Canada? If you just want to play lip-service to the idea but continue the way you are, do nothing about people like Brian Paes-Braga. If you do, the first job is to uncover the ways in which they go about ripping off the market. The second is to make sure they can't do it again. IKN provides evidence of one example of the former. 

10/5/18

Tommy Humphreys, currently lying his ass off at CEO.ca

Struck a nerve, Tommy?

Easy scam paydays in jeopardy, Tommy?

Quite seriously, these sociopaths will quite literally say anything to stop their gravy train scams from coming to a sudden halt. Lithoquest was gutsy enough to stand up to these bullies, extortionists and pathological liars and good for them, with luck their example will stop other CEOs from accepting the poisoned chalice of Fiore placement money. That the readership of CEO.ca keep swallowing the blather and nonsense of innocence is mere testament to their naivete and general stupidity. They are all marks in the world of scum like Humphreys, he will do anything to keep their pockets from closing on him and his cohorts.

PS: For those of you just joining, this post is the reason they're in trouble with paymaster Frank Giustra. They were too clumsy you see, didn't pay attention and learn how to do it right. Now they've blown the scam.


The Friday OT: Kiasmos; Looped

I'm obsessed. This has been 24/7 in my ears for the last two weeks, it's stunningly good music and I only just found out what millions of other people knew.



For some reason, you count 11 seconds before the music starts on this Youtube. Which can also be found here.

Regulus (REG.v): A slight delay on the Aldebaran spin-out

This desk hears that the REG trading halt is due to the Aldebaran spin-out, which has hit a delay or two. There's nothing nefarious going on, it's more bureaucratic hold-ups, but it means in practical terms that the listing of the spin-out Aldebaran company and its share distribution isn't going to happen today. With the delay and what with waiting on this-and-that legal thing to happen, the spin-out and Aldebaran's first day of trading is likely to happen end of next week, or perhaps the start of the week after. So now you know.

By the way, the ticker will be ALDE.v.

The Brian Paes-Braga extortion strategy for muscling in on junior mining companies


 Photo from Brian Paes-Braga's private 
Instagram account, September 2018. 


Lithoquest Diamonds Inc (LDI.v) has quite a tale to tell, one that lays bare the dirty, underhand and likely illegal way in which the scumbag Frank Giustra acolyte, Brian Bri-Bri Paes-Braga, along with the merry band of pranksters that have congregated around Tommy Humphrey's  Vancouver scam pump website CEO.ca, manipulate share prices, strong-arm companies and try to extort them into one-way deals that benefit nobody bar the Paes-Braga gang of thieves.

LDI is a recently set-up exploreco run by an experienced and peer-respected diamond hunter, Bruce Counts. It put together its company structure and raised IPO cash (at 27c, with attached warrants at 40c) late last year and eventually went public in 2018. At first it did well, on the back of positive early exploration results at its property in Western Australia. It hit an apparent setback in early August when it returned dusters at one of its targets, but since then about a month ago the good exploration news has returned, when it hit exactly the kind of Kimberlite structure one needs for diamond prospecting in this news release.


If you didn't know any different, you'd think the NRs above explain the share price movements seen this year. But once you know what Brian Paes-Braga has been doing in the background, the sharp movements seen and the latest lackluster phase becomes crystal in its clarity.

This slimeball has a modus operandi and this certainly isn't the first time he and his gang of two-faced slimeballs has used it, but this time it's come to light. Here's how it works:

1) At the funding stage, Brian Paes-Braga (or the bankroll behind him, e.g. Fiore and Frank Giustra) takes a chunk of the funding placement and get hands on a significant amount of shares.

2) Then once the funding is done and the new exploreco in place, Brian sets up a new private company and buys up a whole swathe of concessions all around the new company. In fact, Bri-Bri has learned this scheme from his new BFF Tim Young and how that particular toerag works his way around the Canadian Athabasca, but the way in which this dynamic duo got together to rip off the Chinese who bought Lithium-X (my stars, there's a bunch of people with buyers' regret that's only cured by suicide) has emboldened this team to the point where they think they can export their extortionate business model to the world.

3) So, LDI sets itself up and welcomes Bri-Bri, unbeknown to them Bri-Bri secures large-scale concession land around the LDI property. The company gets into gear and goes public.

4) Soon after the IPO, Bri-Bri phones up LDI CEO Brian Courts and informs him that he has a private concern with the concession land around LDI's gig in Western Australia. In fact what Bri-Bri has nailed down is pure kangaroo pasture, worth zero-zip-nada in economic geological terms, but that doesn't matter to the two-faced shyster. What matters is the shakedown so Bri-Bri offers this adjacent land to LDI at a crazily inflated price. LDI says thanks but no thanks.

5) Then comes August 20th. Yes for sure LDI released news that wasn't positive, but there's no way it deserved to be whacked the way it did from 50c down to 15c and on massive volume. And the reason it got hit so hard was Bri-Bri, who had been waiting for his moment to sexually intercourse the LDI share price deliberately and for his own ends. He and his pals hit on the bid time and again with his cheap entry shares and cave the price.

6) Then comes the moment that isn't just strategic, it's plain straight extortion. Paes-Braga phones up LDI again and even though it was his selling (via Anon and oh-what-a-surprise-Haywood) that pushed the price so low, he complains bitterly to the company management about the negative NR, the subsequent price dump, the lack of fiduciary care, the way in which shareholder concerns were being ignored, the whole nine yards. He then offers to LDI the opportunity to buy the land he has around the project, once again at a crazily over-inflated price, as well as telling Courts that the project would be better off in their hands and by reversing into his privco, the change in management control would be simple and easy. Meanwhile, Bri-Bri makes it abundantly clear on the call that if LDI doesn't play ball and accept his offer, the share price pain will continue.

7)  Fortunately, Brian Courts is neither naive not lacking internal fortitude. He sees straight through the Bri-Bri attempt at extorting money from his company and tells him to go make love to his own body all alone. Perhaps because Courts and LDI knew their company was far from dead and had plenty of good new to offer on its project, as witnessed a few days later on September 10th.

8) However, even though the LDI share price bounced nicely from the 15c level it failed to re-gain the 50c line of before and it's been telling that in recent days, its been reeled in from the 30c mark it managed to reach, down to the latest 23c or so. There's no particular reason as to why it should have stalled this way, apart from the suspicious manner in which the bid has been hit on occasion. LDI has all the hallmarks of a share price that's being boxed in and, consider the way Bri-Bri has already tried to extort LDI out of a massive amount of cash in exchange for worthless kanagaroo pasture (that he hasn't even paid for it's still in application stage) it's clear to anyone with an IQ over 80 and a couple of years in Canadian capital markets that the manipulator of August 20th is at it again. That's Bri-Bri.

I suppose that more than anything else, this post exists for the junior explorecos to come that get offers from Bri-Bri to participate in their placement offerings. It may look like a neutral thing to you, a business-is-business exchange of a minor slice of your company's equity for the Fiore-backed cash but what you're really doing is opening the door to a whole house of pain, This scumball doesn't just want your shares and warrants, he'll use the slightest leverage plus the tricks learned from Athabasca Tim to get his claws deeply into your company and he won't let go until he's screwed you for all the money he can squeeze from you. Therefore IKN applauds Lithoquest (LDI.v) for standing up to this scumball, to the point where without a single word coming out of the C-Suite this humble corner of cyberspace has testimony from two different and trustworthy sources about the dirty tricks and extortion tactics Bri-Bri uses to screw explorecos. One wonders how may times he and his scumbag cohorts have already got away with this modus operandi.

10/4/18

B2Gold (BTG) (BTO.to): Keeping tabs on this house's best call for an M&A target

Updating from a couple of days ago:



The quiet accumulation continues.

IKN comments on Continental Gold (CNL.to) making multi-year lows this morning

A comment of one word: Good.


How low before it makes the necessary C-suite changes? How long before it admits its responsibility in the mess of last month? How long before Newmont starts wondering just what it let itself in for?

No position in CNL.to at all. 

PS: Hey Lobito, how's that Golden Runway doing?

A final note on New Gold (NGD) (from IKN489)

The New Gold (NGD) trials and tribulations were interesting for a while, but there is a limit one's attention once it becomes clear there's no decent trade available. This short piece is from IKN489, out last Sunday for subscribers.


A final note on New Gold (NGD)

For the time being, at least.  In the short-ish piece on NGD in IKN487 last week (18) in which we noted its continued mediocre price performance on the back of the Mesquite sales and rejected it as a trade candidate, one of the lines used was, “If and when NGD can do a deal to sell Blackwater, it may be worth revisiting this stock.” Among the feedback mails from IKN487, one from somebody I consider to be very well placed to comment on the current NGD situation (and who must remain anonymous, but I vouch 100% for the source) wrote in and said that he didn’t think NGD would get “North of U$50m for Blackwater”.



That, if true or even half true, would be another massive hole blown in the balance sheet of NGD, as currently Blackwater is carried at over U$500m by the company (!!). Perhaps this is why NGD did what it did the day after IKN487, the next 15% dive in the stock price. More perspective on the mess that Renaud Adams has inherited and how badly run NGD was in the years before his arrival. We’ve already seen Mesquite sell for $228m less than its carried position, and now the potential arises for at least an internal impairment to Blackwater, if not a firesale. Year-end impairments testing at the company in the years before was a joke that falls little short of criminal. I would like to know how Randy Oliphant still has director’s positions in other companies. That’s enough NGD for the time being, if anything substantive changes at the company we may revisit, but only if a trade is in the offing. Rubbernecking car crashes gets tiresome after a while.



I expect NGD to flatline. No need to run away any longer, just walk.



10/3/18

Now that we know Brien Lundin is listening...

....we'll try to get him to answer the question again:
How much do these bullshit scam companies pay you to run their promo pump and dump rubbish, Brien?

We know that Brien Lundin sends out paid promo material on no-hope junior explorecos in exchange fo pay, because that's exactly what he did with the heap of trash and upcoming financial trainwreck called Idaho Champion (ITKO.cse) earlier this week

>>>>>>But now the fun part<<<<<<

Thanks to Gary T over at Biiwii who picked up on the  post earlier in the week. And thanks to some numbnuts called Fergus (who is dumb enough to think that Gary actually wrote it, instead of pinging it on his Biiwii site), we now know that Brien Lundin has seen the IKN post, too:





C´mon Brien, don't be shy: How much does it cost for your mailing list whoredom to plant BS in front of the sheep like this? My best guess is $20,000, it could be more though. What's your going rate, Brien? You do specials and extras? Do they get happy endings?

I'll tell you what's funny about Novo Resources (NVO.v)

What's funny is getting the permabull promo cheerleader dumbasses who have exhorted their band of sheep to buy Novo Resources (NVO.v) all year and HODL, who then read my post on the stock from yesterday and have the brass neck and sheer temerity to turn round to me and say that they're glad I'm starting to get smart about the stock.


Seriously, you dumbfucks? I call avoid on this stock all year, you call buy on it and I was the stupid one? For crying out loud, it closed at $2.78 today, look in a fucking mirror one time.

A zinc price chart

Very likeable:


On how the real media picks up on Mark Bristow's dirty hunting habits

We note with interest that in the last few days both The Financial Times. The Daily Mail and the UK Daily Telegraph (i.e. real media, not grubby pissant blog hand their badly written crap like here and here) have run reports on Mark Bristow, CEO of Randgold (GOLD) and soon-to-be head honcho of Randick (ABX), and his penchant for shooting large African animals until they are dead. Then proudly posing for the cameras with the dead animal afterwards (normally behind the carcass, as it hides his erect penis. Probably).

Here's the FT report, entitled "Randgold CEO Mark Bristow has shot a lot of animals". It has the photos. It has words.

And here's the Daily Mail with its version (including the dead leopard photo, bless him).

And here's The Daily Telegraph with, "City boss on board of conservation charity pictured with slaughtered animals from African big game hunt". I thought this one was particularly good because it gets further comment from people who know the issue and gives lie to the hackneyed "shooting them helps conservation" shtick that big game hunters like to hide (their erections) behind. We quote:
The international wildlife charity Born Free was scathing. Will Travers, president of Born Free, said: “Mark Bristow is obviously fond of big numbers. His company, Randgold, just bought by Canada’s Barrick Gold, is worth at least £5bn. But there are other numbers he may be less willing to discuss. Mr Bristow shoots African elephants – there are about 415,000 left.
“Mr Bristow shoots African hippo – there are about 130,000 left. He also shoots zebra, antelope, gazelle and leopard.
“He will claim that it supports conservation and development but evidence suggests that only around 3pc of what people like Mr Bristow spend on their deadly predilection ends up in ­local communities.”

And don't forget that Marcelo Kim, John Paulson's Mini-Me at Paulson & Co, Chair of International Tower Hill and all-round arrogant fleabag is also a lover of this despicable pastime.

Continental Gold (CNL.to), the Colombia Gold Symposium and IKN

For what it's worth.

I was one of the attendees of the inaugural Colombia Gold Symposium, in Medellín Colombia, in 2016 and thought it an excellent conference. So much so that last year in November 2017 not only did I attend, but IKN was one of the sponsors of the event. It was again a fine show, so this year 2018 I pledged to sponsor and attend once again. Sponsorship cash handed over, flights booked, hotel reserved, time set aside.

However, that has now changed due to two factors:
1) The events of two weeks ago, in which three geologists working for Continental Gold (CNL.to) were murdered by FARC/ELN dissident separatists. 

2) The fact that Continental Gold (CNL.to) remains one of the main sponsors of the event.

Not only did the company behave irresponsibly by putting a team of geologists in harm's way by sending them into a politically hot zone, but since that time they have done just about everything in their power to cover up the litany of mistakes they made in the run-up to the horrific events by employing a self-centred media strategy that has stretched the truth to breaking point. The fact remains that no matter what else they may say, CNL knew full well that the area around the Berlín project was a high security risk (if not, why has the Colombian army had large-scale patrols in the area in recent months and were in the area in heavy numbers when the murders occurred?). They knew the party felt threatened and had heard rumours of some sort of attack days, even up to two weeks before the event. They finally decided to pull the party out on that fateful Wednesday, but instead of acting immediately decided to wait until the next day when it was too late. But perhaps worst of all, there has not been a single utterance of regret for their failings in the public sphere, we have no idea if internal action has been taken against those responsible for putting this team of geologists in harm's way, the person ultimately responsible for the company's actions in Colombia, Mateo Restrepo, has to all intents and purposes suddenly become deaf and dumb. 

Apparently, these people think that I am going to turn up to the Colombia Gold Symposium show in November, sit beside Continental Gold as a fellow sponsor, watch as they sponsor the morning coffee break, press flesh and make themselves out to be the butter-wouldn't-melt-in-mouth corporate citizens, auto-absolve themselves of any responsibility and brown-nose the Newmont reps who will arrive in a throng? And tacitly support this two-faced nonsense? Sorry, no way.

The IKN Weekly and this IKN blog has withdrawn its sponsorship of the 2018 Colombia Gold Symposium. Your author has cancelled his travel arrangements and will not attend. By the way, graciously and without a single prompt, organizer Paul Harris returned my sponsorship money and that was good of him. But the rest of this sordid mess is not good and I certainly hope that CNL doesn't try to come across as the innocent victim which didn't have a clue about the dangers around the Berlín area during the two day event. I refuse to share a platform with these people, they make me sick and are a disgrace to the industry.

10/2/18

The unbearable lightness of being a Novo Resources (NVO.v) skeptic

Here's the thing; I have this friend, he's in the mining scene and not only is he one of my better friends but he's also someone with an excellent take on the market and ample experience to back it up. He knows I'm a Novo Resources (NVO.v) skeptic without being outright negative about the company, he knows I'm strictly neutral on the stock price (NB: note that stock price and company are two separate matters), he himself is certainly interested without being convinced. He also knows all the main players personally. And I get a mail from him on Monday evening, a two line missive:
"I watched the Novo webcast.
I thought it worthwhile"
The link to that webcast is right here. At that point I hadn't seen the NVO presentation at the Denver Forum, neither on the live webcast when it happened nor on the replay, because I'd been busy watching the companies that interest me more (mostly those where I cover/own shares, some others too) and hadn't got around to seeing all the Denver gigs. Still, I replied that evening (with slight edit to protect both guilty and innocent):
"I watched a lot of others from Denver, didn't bother with the dog and pony shows ...(slight edit)... NVO has decayed into BS and will remain there until such time that it starts producing standardized assays of some shape or form. Now trading under $3. Good. So why should I bother watching it?"
Frankly, that was bad of me. Poor show, incorrect and Luddite, so I'm always glad when a friend throws my BS back in my face. Here's his reply:
"All that opinion on NVO  without bothering to see what they are doing or attempting to do?
That would be like me calling GGI BS without going thru the available info."
Absolutely. I was in the wrong, period. Chastened, I went and watched the NVO presentation featuring Quinton Hennigh. In fact, before opening my fat mouth again I watched it twice. Credit where due, it includes an excellent, well thought-out and visually pleasing video overview of "The Pilbara" which does a fine job of putting it all into scale. Then after the cool video comes frank and straight talk from Quinton Hennigh (QH) too, he's not trying to market to the Nth degree here, he gives it straight and perhaps to the point where the message is detrimental to the company. I replied to my friend:
Okay, so I watched it. Slick video. Yes, it does do a great job in conveying the scale of the project(s). And yes, it is interesting. When QH talks about delivering assays and resource numbers soon, it's credible and I'm looking forward to those. The segment close to the end is the most important, when he explains that the work now is required to get a mine licence in order to start the essential bulk mining trials. In other words, I don't need to own this until they start bulk mining. And that's why it's gone under $3.00. It's not only the time factor, it's now clear that $62m or not they're going to have to raise again before we get a definitive handle on the company.

Bottom line: Yes I'm more interesting in NVO now, but no need to own yet and there's not going to be any Kirkland takeover until the large scale bulk sampling gives up results. I think I can come back here in two years' time and buy it for $3.


And on that, my friend replied to say he agreed. Moral of the story; don't be an ass with the market, with your preconceptions, with prejudices or with your friends. Thankfully, good friends will tell you you're being an ass and you get the lesson cheaply, but the lessons doled out by Mr Market tend to be far more expensive. I remain neutral NVO. As does my friend (to my knowledge), but the days of dismissing this company out of hand are gone. True that I see no reason to be long today. Also true that I'll be watching its 2019 very closely.

Bunker Hill (BNKR.cse): the latest Bobby Genovese scam is falling to pieces

News today:

Bunker Hill Mining Announces that it is in Default of its Lease Agreement on the Bunker Hill Mine Due to a Missed Property Payment
TORONTO, Oct. 02, 2018 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (the “Company” or “Bunker Hill”) (CSE: BNKR) announces  that it is in default of its Lease with Option to Purchase Agreement (the “Agreement”) with Placer Mining Corporation, the lessor of the Bunker Hill Mine. The default has arisen as a result of missed property payments, totalling US$400,000, which were due at the end of September and on October 1, 2018.   As per the Agreement, the Company has 15 days, from the date notice of default was provided (September 28, 2018), to remedy the default by making the outstanding payment.  Bunker Hill is working with urgency to resolve this matter.
About Bunker Hill Mining Corp.

Palisade pump and dump

Add another to the growing list of complete rip-offs from these people:


B2Gold (BTG) (BTO.to): This house's best idea for an M&A play is...

...having a very interesting three days at market:



On volume. Welcome back, The Clive.

10/1/18

In which we witness how Brien Lundin peddles bullshit juniors for cash

This is an example, just one, of why I've never been comfortable with Brien Lundin's stuff. Yes I know he's loved by one and all and yes I know he's supposed to have this great rep and yes I know he puts on the New Orleans show and does a lotta great work for chaaaaariteeee, but it all falls apart when he whores himself out and takes a five figure sum to pump complete and utter wankery junior flotsam and jetsam to his readership.

Step forward today's mailer from his stable, exhorting you to buy into a no-hope vehicle set to crash and burn that's trading on the CSE called Idaho Champion (ITKO.cse). Here's how the pump job starts...


...it then goes on with vapid puffery for a few column inches (pretty maps included) and in case you're in any doubt about this, here's the send-off:


Yes, that says in clear English that investors "will want to buy Champion" before the drill results come out. Complete wank, start to finish. However, there is some good news to report because according to the list of trades in this thing today...


...just 65,000 shares shifted to a TD Sec client (from Anon, oh what a surprise) and the last trade came through at 11:32am. Hopefully this pump job will stay firmly fallen flat on its face in the day to come, too. Still, that doesn't exonerate Brien Lundin from whoring himself this way. 

How much did they pay you, Brien? Come on, don't be shy.




The IKN Weekly, out now


The true truth is that aside from my early teenage years when, along with a couple of school friends I used to memorize auto specs and stats just for fun, cars have never been my thing. I've never been one to drool over flash models, I'm the guy who'll walk straight past a Porsche or Maserati with not so much as a second glance. But the Ferrari 488 is different, it's a work of art of wheels. That's just drop dead beautiful and I've been waiting patiently for 488 to come up to be able to feature this photograph. Anyway, IKN488 has just been sent to subscribers. A script-heavy edition, running to 17,600 words and 33 pages. Mind you the last four or so are just fillers, I'm making it sound like there's a ton of work here...