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11/10/18

One for Mark Bristow and Marcelo Kim to ponder

Come the revolution...

11/9/18

Kevin McArthur is still the executive chairman of Tahoe Resources (TAHO) (THO.to)

Can anyone explain why while keeping a straight face?


Wesdome Gold (WDO.to): The two numbers that matter...

...from its 3q18 financials, out last night:
1) WDO spent $9.75m on exploring and developing its properties during the quarter.
2) Working cap, at $13.2m, dropped by just $1.3m.
At this rate, they will be able to build Kiena without any capex raise.

What? Maximizing shareholder returns and looking after long-term shareholders? Wow, that must really annoy a whole bunch of offices in Toronto.


The Republic Metals collapse and the mining companies caught in the mess

The Miami smelting and precious metals refining company Republic Metals collapsed this week and went into Chapter 11 bankruptcy protection and the story is a real mess, for the industry and for the mining companies to which it owes money. The case looks for all the world as though plain straight fraud has been committed and metal that should be there has simply disappeared.

But which companies are on the hook here? Here's a list of the main losers, as the 30 biggest debtors get listed in the Chapter 11 filings (screenshots of original document below...yes I get these things sent to me)

Tiffany and Co: U$17.1m
Coeur: U$13.5m
Sumitomo: U$8.8m
Yamana: U$6m
First Majestic U$6.7m
Argonaut Gold: U$5.6m
Pan American Silver: U$4.8m
McEwen Mining: U$2.3m
Hochschild: U$2.3m
Premier: U$5.5m
Alamos: U$2.7m
Pretium: U$4.1m
Volcan: U$1.2m
Gold Resource Corp: U$0.7m

There are others, too. A lot of money has gone missing here and those sums are likely to stay as trade receivables on company books until such time as they are written off.












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The Friday OT: Hélène Grimaud plays Mozart's Piano Concerto No.23 Adagio

Mozart rarely wrote in minor keys and only ever wrote one thing in F minor. This is it and it goes out to anyone silly enough to claim W.A.M. music is light and lacks emotional complexity. With Grimaud in control, it's guaranteed to move your heart.





Youtube here.

11/8/18

Adventures in corporate mission statements, Cerro de Pasco Resources (CDPR.cse) edition

How much of a sectornerd and miningwonk do you need to be in order to read the mission statement of a CSE-listed tinycap exploreco and derive enough amusement from it to put a blog post together on a Thursday morning? Guilty as charged, m'lud.

Today,  an outfit called Cerro de Pasco Resources (CDPR.cse) announced the appointment of a new independent director. After all the gushing noises and stuff, your humble scribe's eyes were drawn to the CDPR.cse corporate profile at the bottom of the NR. Specifically, this bit:
The Company's focus will be on developing the El Metalurgista mining concession, application of the latest science in geo-resource and industrial development, reducing dependence on conventional "dirty" mining of commodity metals and promoting the productive utilization of all material resources (both primary and secondary) available at Cerro de Pasco in order to secure long-term economic sustainability in harmony with a healthy and prosperous local population

Have you ever been to Cerro de Pasco? Has anyone at CDPR ever been there? If they have, did they go at night and only stay for 15 minutes or something? I mean, good intentions and all that, but seeing words like "harmony" and "healthy" used in a blurb for Cerro de Pasco? I suppose they could make a meaningful difference by working on the town's environmental betterment and filling in that small earth workings smack bang in the middle of the urban population centre, but...


...that would probably be out of the budget of a CSE-listed junior. In its first year, anyway.

Goldhub, from the World Gold Council

Here's the NR, here's the header blurb:

LONDON, Nov. 8, 2018 /CNW/ - The World Gold Council today launched Goldhub, a market-leading source of data, insights and analytical tools aimed at helping investors understand gold's value as a strategic asset.


And here's the link to Goldhub. I've done about 20 minutes' worth of test driving this morning and it's certainly interesting. Go take a look yourself.

11/4/18

This blog will be quiet for a few days

Normal service will resume presently.

The IKN Weekly, out now




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