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Mining referendum news from Azuay, Ecuador

Exit poll from the referendum on mining in Azuay, Ecuador
  • Against mining in the Quimsacocha páramo: 76.1%
  • For mining in the Quimsacocha páramo: 13.7%

The rest are spoiled ballots and/or null votes. IKN therefore confidently predicts that the lawyers billing INV Metals ( are going to have a better few years than shareholders of INV Metals. The latter group include the clients of that utter dumbass Byron King, of course.

The IKN Weekly, out now

At last! Real News!

IKN513 has just been sent to subscribers. We take a good, hard look at the silver market and like what we see in the metal, as well as the best junior in the silver space which is about to wake up with a vengeance.


The top three most visited IKN posts this week are... reverse order:
Third Place: "A pet peeve about junior mining websites". I had a bit of a rant and didn't expect it to get popular, but it hit a nerve with several of you. Thanks for the mailbag on this one.
Second Place: "The liars and thieves at CEOca are at it again". Self-entitled assholes, liars and two-faced money-grubbing lowlifes who'd sell their grandmother for a tenspot. 

As for the update and an extra comment, I had to laugh about the way the blowhard "Zentrarian" immediately issues a grovelling apology as soon as somebody stands up to the lies and BS, these idiots still think they can be anonymous on the internet. People, be clear, there's no such thing, if your ID can be traced without much difficulty by somebody like me, imagine what people with access to motherlode databases know about us all.
First Place: "The moment Casey Research reco'd Kirkland Lake". A fashionable name gets hits. Kirkland the fashion name of course, not Casey. My stars, definitely not Casey.


Late Friday NR delights, Euromax Resources ( edition

There are quite a few smelly post-close Friday NRs worthy of sniffing at this evening, but this one from Euromax ( wins the stink prize. The basics:
  • The placement was set to happen at 7.5c per unit, with a whole warrant priced at 23c
  • Now it's happening at 6.25c, with that whole warrant at 15c.
The $9.2m raise will now all-but double the share count to 331m S/O (and that's without the warrants) but really that's just scratching the surface. You need to read the whole of this NR to see exactly how liberally the KY Jelly has been applied to the soft cheeks of EOX. Go have your own laugh, right here.

Greedy Ian Telfer news

From the BCI, link here:

BCI Opposes Decision to Increase Retirement Allowance to Goldcorp Inc. Chair 

VICTORIA, BC, March 22, 2019 /PRNewswire/ - British Columbia Investment Management Corporation (BCI) will exercise our shareholder rights in voting against the proposed merger of Goldcorp Inc. (TSX:G;NYSE: GG) and Newmont Mining Corporation at the Goldcorp special meeting on April 4, 2019.
BCI is concerned by the recent decision of Goldcorp to award a retirement allowance of US$12 million to their chair, Mr. Ian Telfer on completion of the transaction with Newmont (NYSE: NEM). The retirement allowance is almost triple the previously disclosed entitlement of US$4.5 million. This is inconsistent with the governance principle of pay-for-performance and sets a troubling precedent in the capital markets. The payout to Mr. Telfer was a factor in our decision to vote against the Newmont transaction. We issue this statement to express our concerns over this inappropriate decision.
"BCI finds this decision to be fundamentally misaligned with the interests of shareholders who have experienced a significant destruction of almost 53 per cent in value since 2006," said Daniel Garant, senior vice president, public markets. "While we welcome the recent announcement that Mr. Telfer will no longer take up the position of deputy chair at Newmont should the merger go through, we fail to see how such an egregious payout is warranted."
As a long-term investor, BCI places significant value on good corporate governance and believes that decisions around compensation – for both management and board directors – are critical to a company's governance. BCI supports transparent, reasonable, and appropriately structured compensation packages that reward performance and are strongly linked to a company's long-term success.
About BCI
With $145.6 billion of managed assets, British Columbia Investment Management Corporation (BCI) is a leading provider of investment management services to British Columbia's public sector. We generate the investment returns that help our institutional clients build a financially secure future. With our global outlook, we seek investment opportunities that convert savings into productive capital that will meet our clients' risk/return requirements over time. We offer investment options across a range of asset classes: fixed income; mortgages; public and private equity; real estate; infrastructure; and renewable resources.
With public equity holdings of $64.5 billion as at March 31, 2018, BCI is one of Canada's largest institutional investors in public equity markets.
SOURCE British Columbia Investment Management Corporation (bcIMC)

Argentina GDP shrinks 2.5% in 2018

That's the official result, out today. What's more, the last quarter saw a slide of 6.2% YoY. On the back of this new, the Peso has slumped to 43 vs the US Dollar and interest rates touched 66% this morning.

Funny how the result compares to the forecasts, innit? Back at the end of 2017, the world predicted Argentina would come out of its recession and grow by 3.3%. Even after it had been hit by reality and those initial rosy forecasts throw out, the experts still predicted a 1.0% growth for the year.Macri is forgiven everything by those on the outside, but let's see how he gets on in the Presidential elections at the end of the year. If he decides to run, that is.

The Friday OT: Boards of Canada; In a beautiful place out in the country

Something different for you this week.

Youtube here.

Doctor Copper is hardly bitter

Gary is running a post today called "Doctor Copper's Bitter Medicine Today" on the selling in the metal, which is way too harsh a title:

U$2.90/lb may have looked like a support, the real one is here at $2.85/lb and then U$2.80/lb. Bears screaming "collapse!" on this are way too shrill for their own good.

Regarding Cordoba Minerals (CDB.v) and having skin in your game

The material change report filed on SEDAR last night that gave details of the recently closed placement included this table:

See the line for company CEO Mario Stifano? See that little "6" by his name? Here ya go:

For sure it's nice that the ostensible top cheese in the company joined in the placement but, when you read the details, it turns out he sold 500,000 of his shares on the open market in order to buy 500,000 units (that included the warrant) in the placement deal. For a company CEO who earns $350,000 cash per year from his job at CDB, the optics on the way he decides to liquidate $50k's worth of stock just to replace are pretty darned poor. Especially as he only owned 0.4% of shares out before the deal ran and that hasn't changed a jot. Apart from those freebie warrants, of course.

I mean, I know the cost of living in Vancouver or San Diego isn't the cheapest, but...

Mirasol Resources (MRZ.v) is not a normal junior

That's because instead of the honest and straight-speak header and NR used by Mirasol (MRZ.v) today, a normal junior that saw a optioning-in deal with a larger company dropped would proclaim that "It was very pleased to announce it had re-gained 100% control of..." etc etc. It's nice to see the honesty.

Termination of the Option Agreements for La Curva and Claudia Projects

VANCOUVER, March 22, 2019 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the "Company" or "Mirasol") reports that it has been advised by OceanaGold Corporation ("OceanaGold") of its decision to terminate option agreements for the La Curva and Claudia Projects in the Santa Cruz Province of Argentina. Continues here.


Excellon's ( security detail may have been slightly lacking

From the 4q18 MD&A, out this morning. Does that really say 10%? Jeesh...

Concentrate Theft 
In advance of the change in federal government in Mexico in December 2018, the Company recognized a deterioration in security around Miguel Auza, the location of the Company’s processing facility, including threats to certain of the Company’s employees. A preliminary investigation of these threats uncovered a scheme involving the theft of concentrate by criminal elements while in transit from Miguel Auza to Manzanillo from 2016 to October 2018. The amount and value of concentrate stolen remains uncertain; however, it is currently estimated that scheme impacted the Company’s revenues by approximately 10% per year during the affected period. Investigations indicate that three employees were involved in facilitating and concealing the theft; these employees have been terminated. The Company retained experienced consultants to assist with investigations and developed and is implementing a plan to enhance the security footprint at Platosa and Miguel Auza and strengthen internal procedures. Additionally, the Company is working with Mexican authorities to improve security regionally around Miguel Auza. The underlying security situation in the area appears to have calmed. Nevertheless, the Company remains vigilant to protect the safety of its employees and contractors and to ensure its business is not further impacted.

Catching up with New Gold (NGD)

Tried to warn you. But no, you had to listen to the dumbasses on Twitter who told you it was cheap.

Moral: Balance sheets matter. Therefore, when looking for stock market advice, try to avoid those people who don't even know how to open a company's financial results documents, let alone understand them.

Meanwhile, any thoughts on the decision of its new wunderkind CEO to put a costless collar on 192,000 ounces of its 2019 production (300k to 335k guidance), which limits the price NGD gets to U$1,300/oz max?

UPDATE: Reader TY writes in to remind your author of a picture we used to use on these pages. Thank you madame, good call.

The Thursday OT: Dominic Frisby; Seventeen Million F**k Offs

Site pal Dominic Frisby has a real life hit record on his hands, written about Brexit, already viewed over 250,000 times on Youtube and shooting up the UK charts.

The main reason; It's very good with a lot of truth, all from the pro-Brexit viewpoint. Unsurprisingly, the lyrics are NSFW but they are funny, so enjoy;

Youtube here


Justice update

To the best knowledge of your author:

Plateau Energy Metals (PLU.v) has taken no legal action against this corner of cyberspace over the last five days, despite threatening to do so in classic bullyboy fashion in order to stop some plain truths from reaching the public sphere. Seems they're all mouth and no trousers.

The coat thief Jerry Huang is still employed as Chief Financial Officer of both IMPACT Silver (IPT.v) and Energold Drilling (EGD.v). There has been no sort of pronouncement by either company on whether Huang, a Named Executive Officer, is under any type of internal investigation.

College entry scandal man David Sidoo was arraigned on his charges on March 15th, pleaded not guilty and was released on bail with a $1.5m bond (much more than most of the other people charged in this affair).  He's next up before the beak on April 18th.

Read the new Trey Reik report on gold and the gold stocks

Right here. Another best-of-breed commentator, this time the sharp eye on gold has his say on the stocks that mine the stuff.

Yet another impressive market call from Gary Tanashian

If you, like me and hundreds (perhaps thousands) of others who get Gary Tanashian's NFTRH update mailers, saw the High Priority update published by Gary two hours ago, you would have nailed the gold sector rebound that just kicked in and probably paid for several years of his subscription service in minutes (frankly, he should charge more). Yet another highly impressive and accurate market call from Gary, the best chartist I know. Go see.

The liars and thieves at CEOca are at it again

Your humble scribe's eyes are directed by A. Reader to the den of iniquity that is CEOca, specifically the way in which those self-entitled brats continue to lift, in wholesale and without any sort of permission requested or granted, entire posts from this site. Example here:

You click on the link there and read every single word of the post published on these pages on Monday. This is copyright infringement, you lying two-faced con artist Humphreys. Take it down immediately and also be clear that your scam pusher site has a permanent ban on re-printing a single word of IKN. But that's not all, because just under that full-length rip-off of IKN we get this joker spreading lies about my good person:

That's not true, "Zentrarian". I am not a short seller, nor am I a pump and dump artist (though coming from CEOca, pump-central for the whole sordid Canadian rip-off market, is rather funny. Nor am I buying, holding or selling any of the stocks mentioned. So if you want to play at funstuff Zentrarian, how about I find out your real identity? Be warned that I'm pretty darned good at this game, too. You have 24 hours to issue a full apology and retraction, starting now.

UPDATE: Funny how they will suddenly scurry off and apologize when the threat of sunlight is upon them. 

Venezuela: Hope you didn't hold your breath

In The IKN Weekly IKN505 dated January 27th, a piece appeared entitled, "Venezuela: Do not hold your breath". At the time, as much of the world though it was only a matter of hours before the newly self-proclaimed interim president Guaidó would topple the dictator Maduro and his regime. The IKN message that weekend was "well that would be nice, but don't bank on it". 

Here's an extract from the piece. It's held up better than most people's analysis of that week.


As things stand, President Maduro is keeping a hold on power over President Guaidó, but it now seems to be a case of whoever manages to convince the military generals will win through. However and despite the best wishes of just about all the democratic and free world, be clear that mere “people power” is not going to be enough to dislodge Maduro. I cast my mind back to midweek and recall the amount of people who told me that “Maduro is toast” when in fact, under the circumstances he has so far played his cards carefully and well. One tell is to note how little he has been seen in public, there’s no need for him to convince or play catch-up to the throne pretenders. The situation could indeed change rapidly (army generals moving to Guaidó’s side is top of the list of possible game changers) but no news is always going to be good news for the installed regime. The longer this goes on, the more the support from Russia/China will win out over USA/allies (who will not have the stomach for a hot war). The person risking most is Guaidó, up to and including his life, because if the international concerns decide to defer and wait for another day, it will be the equivalent of throwing the man who would be king under a bus.

As for our sector (or any other opportunity for FDI in fact), the tried and trusted maxim “buy when there’s blood in the streets” is the best guideline, but it also specifically refers to Maduro (supporter) blood. A successful bloody repression of protesters by the armed services means status quo (no matter how much hand-wringing over human rights or police brutality follow), the only way Venezuela becomes a live investment option is with the fall of Maduro and his government (both those things). Then it would be game on, but those assuming a swift resolution are likely to be disappointed. If I had to guess at this point, I would go for continued street protests with violent clashes, a Maduro who stays out of harm’s and microphone’s way (political assassination is a possibility) and inertia setting in that leads nowhere after a few weeks, all akin to the Arab Spring results in places such as Egypt. All this means that we shouldn’t be champing at the bit just yet to deploy our speculative dollars in Venezuelan assets.

Think Zinc: Andy Home does the Zn market

A really interesting piece on the current tight supply in the zinc market by Reuters' ace metals commentator, Andy Home, right here. Well worth yourn time, metalhead.


A pet peeve about junior mining websites

It works like this, junior mining executive:

When the market participant reads a NR from your company that interests (and that was the plan you had, right?) she or he will often go over to your website to check out the data for the first time. We, the prospective share buyers and sponsors of your enterprise, want to know what the company structure is like, the basic details and whether the project you're working on represents value compared to the size of the company working it.

So, why don't you offer information in a simple, easy and transparent manner?

Yes, you'll always show us your share price. And often we get a price chart showing the price performance. But share price is subordinate to the real number, that's market capitalization and to get that, we want the share count. By my personal reckoning, 50% of the junior mining websites I visit don't give that number out on their "investors" page. Another 25% will have it somewhere, but out of date and I need to go looking on the latest Reg Fs (and then if still interested, check recent NRs for any recent placements, equity raisings or awards of options/warrants/RSUs etc) for the current number. A few of you, a very few, will have a nice clear "shares out" number waiting for me with a date beside it that shows it is up to date and correct. Those are the people I like, the ones who have nothing to hide and are as transparent as possible.

As for the rest of you, the ones who make it difficult to do the most basic of DD, you're not just putting us off at the precise moment you should be helping us get interested in your company, you are making us actively suspicious about your motives. If you have something to hide, go ahead and hide it from us, but don't be surprised when I come away from your website after a couple of minutes thinking, "Hah, they have something to hide!" Life is too short for another BS junior in my life.

This is the 21st century, ladies and gentlemen executives of junior mining companies. If you are not user-friendly, you are going the way of the dinosaurs. End of rant.

UPDATE: An analyst friend sends a missive to IKN Nerve Centre: "I like your rant, but I'd add to it: Contact Info. If you don't have a phone number with country code, just f___ right off".

UPDATE 2: Another analyst friend: "I agree 100%, it’s like going to a grocery store but there are no prices on the goods. Likewise, linking back to the website front page for detail in an NR, instead of linking directly to the detail. Most of the time I can't find the relevant maps etc. or have to try and guess where they might be, if at all. I mean, how hard is it to put up share structure and link directly to what I am looking for?"

If one hand claps in the desert, does Keith Neumeyer make a sound?

What's the point in having a share buyback program when you don't buy back shares?

VANCOUVER, British Columbia, March 19, 2019 (GLOBE NEWSWIRE) -- First Majestic Silver Corp. ("First Majestic" or the "Company") announces that its board of directors has approved the extension of its share repurchase program (the "Share Repurchase") pursuant to a normal course issuer bid in the open market through the facilities of the Toronto Stock Exchange ("TSX") or alternative Canadian market places over the next 12 months.  Pursuant to the Share Repurchase, the Company proposes to repurchase up to 5,000,000 common shares of the Company which represents 2.54% of the 196,626,046 issued and outstanding shares of the Company as of March 1, 2019.

Continues here. Meanwhile, some facts:

  • In 2018, First Majestic bought back zero shares
  • In 2017, First Majestic bought back the magnificent total of 230,000 shares.
  • What's more, since those buyback happened the share count has moved up, from 165m to 196m shares.

So why doesn't use its self-important buyback facility? Well that's easy, just take a look at the company's numbers and compare them to the U$33m or so it would cost the company to fully implement its 2019 buyback:

2016: Operating profit, $49.2m, net earnings $8.6m
2017: Operating profit, $16.0m, net loss $53.3m
2018: Operating loss, $11.9m, net loss $204.2m

These jokers don't just make net losses, they can't even run their mines at a profit. Add in the exorbitant G&A that runs and you finish with a company that saw its cash position drop from $118m to $57m last year...WITHOUT BUYING BACK A SINGLE SHARE!

First Majestic can pimp itself by trumpeting a share buyback plan if it likes, but scratch the surface and you quickly see that it may think it's big and influential but is in fact small, unimportant and just rather noisy. Now, who does that remind you of?

Keith Piggott: By their acts shall ye know them

Just making sure you get to read this. Next time some mining company thinks about hiring Keith Piggott, they may want to take into consideration that he thinks the company's treasury is his own plaything and that he'll spill the beans on non-public material information anytime it suits him.

Apart from that, carry on. 

VANCOUVER, British Columbia, March 19, 2019 (GLOBE NEWSWIRE) -- Core Gold Inc. (“Core Gold” or the “Company”) (TSXV: CGLD, OTCQX: CGLDF), in response to stakeholder inquiries, wishes to clarify the circumstances surrounding the recent termination of its former President & CEO, Mr. Keith Piggott, for cause.
Mr. Piggott was initially put on notice by the Company in November 2018 for, among other things, incurring new debt at the subsidiary level without notice to, or approval of, the Board of Directors (“Board”), and for conducting activities at the Company’s projects in Ecuador that were in breach of Core’s contractual obligations that were then in effect. These activities were not disclosed to the Board or other members of senior management. In response, the Board required that Mr. Piggott not exceed certain expenditure limits without Board approval and that he cease undertaking activities that would cause Core to breach its contractual commitments. In addition, the Board required that Mr. Piggott cease using his personal email for Company activities.
Mr. Piggott did not abide by these directives from the Board. Subsequently and in addition, he also misappropriated for his personal use what the Board believes was approximately $50,000, as well as causing the disclosure of confidential information related to the merger discussions with Titan Minerals Limited (“Titan”) to persons outside of the Company.
Accordingly the Board made the decision to terminate Mr. Piggott for cause for these reasons. While Mr. Piggott was the only director who was not supportive of the amendment made to the proposed merger with Titan (as announced on March 11, 2019), the circumstances of Mr. Piggott’s termination are unrelated to the Titan merger. Mr. Piggott, as a director, did vote in favour of the Titan merger as originally announced on February 24, 2019.
Full details of the decision-making process undertaken by the Board in determining to proceed with the Titan merger, as well as the Board’s rationale for its recommendation will be set forth in Core’s management information circular for its shareholder meeting to approve the Titan merger, which Circular will be available in late April.
About Core Gold Inc.


Ecuador: The Girón mining referendum soap-opera (from IKN512)

A segment from this weekend's edition of The IKN Weekly, IKN512, in which we attempt to explain why the Azuay referendum vote set to happen this Sunday March 24th is important to INV Metals (, to the region around it and to the mining industry all over Ecuador.


Ecuador: The Girón mining referendum soap-opera
We need to catch up on what’s been going on around the “popular consultancy” referendum in the Girón canton of Azuay, South Ecuador. As reported on these pages no end of times, this is the vote scheduled for March 24th that has been officially sanctioned by Ecuador’s electoral body (the CNE) and in theory at least, will decide whether the zone allows mining to go ahead. This is a direct threat to INV Metals ( and its Loma Larga (ex-Quimsacocha) project located in the zone.

First, what happened last week and as reported on the blog (3) on Wednesday a judge in the capital Quito ruled that the vote could not go ahead (4) as it did not yet have a judgment or ruling on its validity from the country’s Constitutional Court. The ruling was quickly celebrated by the country’s Vice-Minister of Mining in radio shows the next day and also by  As reported by Canaccord in a note to clients, here is how INV CEO Candace MacGibbon reacted to the news of the suspension:

Ms. Candace MacGibbon, CEO, stated, “We are very pleased that this decision ensures the rights of the Local Group and those of our surrounding communities are upheld and respected. We are encouraged that the Constitutional Court will ultimately determine the constitutionality of the referendum using the appropriate legal process provided for within Ecuadorian law and that the referendum will be suspended until such time.

Which sounds and fine and dandy, but of course the real reason that INV and the pro-mining government were happy about the suspension is that they know that if it went ahead, the anti-mining side would almost certainly win. Local politicos have estimated that the vote will go 70% to 80% in the anti’s favour and that sounds right on to me. But at that point (and being unversed in the finer points of Ecuadorean law) I too thought that the pro-mining lobby in Ecuador along with the obvious support of the Moreno government had run a ring around the anti-mining lobby and the local activists, that the referendum would not go ahead and the whole issue was set to be caught in legal limbo, where the vote could not go ahead.

However, Friday brought a big turnaround to the story when the CNE ruled (5) that the judge in Quito had acted illegally in suspending the vote. Not only that, but his ruling was in flagrant violation of the country’s election laws, to the point where the CNE are now demanding his resignation as a sitting judge. The President of the CNE has asked the body that rules over all legislative bodies, the TCE, to kick out the judge (6) and the TCE has already agreed with the CNE’s argument on this. It now looks as though the judge, somehow “persuaded” by either/or mining world and government, tried to force through a ruling to scupper the referendum at the last minute and ignoring the statute which says (and is extremely well-known in Ecuador) that no legal body can affect the running of an election once the official election period has begun. Here’s what the president of the CNE said on the subject (7) (translated):

“When we in an electoral process, no outside authority to the organization can intervene, directly or indirectly, with the electoral processes nor in its functions. The electoral process is ratified and will continue to March 24th, according to everything as planned in the calendar.”

The bottom line is that the referendum in Girón will go ahead next Sunday, March 24th, and it will be a massive surprise if the anti-mining side loses. What happens then is anyone’s guess, though I strongly suspect the pro-mining side (which includes the national government) will argue that the result is invalid because a locally-made decision cannot supersede national law. However, by that time the officially sanctioned vote will be in the books and on the record, providing highly significant backing for the local communities who have opposed the project for literally decades. How any mining company can claim support for its project after such a vote is beyond me, a prerequisite for permitting and approval in Ecuador.

In the end, the government of Ecuador is worried that Loma Larga will be blocked (one of the five official strategically important mine projects) but is far more worried that the upcoming vote create a precedent in Ecuador for referendum-type votes on mining projects. This is the reasoning they used in the fight against the referendum and it’s also something they pointed out during the 24 hours last week when it seemed the vote wouldn’t happen. On this score I have plenty of sympathy with the Lenín Moreno administration because even though they have made a big mistake in trying to ram through an unpopular project against the will of the local community, the can of worms it now opens will potentially affect every mining project in the country. It will certainly be used by every single indigenous pressure group and anti-mining NGO as a weapon against progress and new developments.

The moment Casey Research reco'd Kirkland Lake

Not joking.


The IKN Weekly, out now

The car I fell in love with as a 12 year old boy. 
Scale model, poster on the wall and everything

IKN512 has just been sent to subscribers. Plenty of bases covered this weekend.


The top three most visited IKN posts this week are... reverse order:
Third Place: "Couldn't happen to a nicer guy". Keith Piggott is fired under dubious circumstances and straight afterwards, Australia's Titan moves in on Core Gold. All the fun stuff.

Second Place: "CoatGate! Jerry Twocoats Huang responds". In which we document the incredible (quite literally, as in "the direct opposite of credible") cock and bull story fabricated by Twocoats himself, as he tries to explain away the CoatGate scandal (below). You believe this nonsense, you'll believe anything. 
First Place: "The CoatGate scandal (an IKN exclusive)". The talk of Vancouver, so they tell me. Post count winner by a nautical mile.

INV Metals ( The Giron referendum is back on again...

...and will take place on March 24th, as scheduled. It would seem that the government of Ecuador, the pro-mining lobby and the judge who ordered the suspension last week have been caught red-handed using dirty tricks. Most interesting, especially when you consider the declarations of the Mining Minister and the company just after the illegal suspension was announced.


The Friday OT: The Presidents of the United States of America, Peaches

A crowd-pleaser. When the band was asked about the song's meaning, it's lyrical devices and whether peaches were being used as a figurative image for some body part or other they replied, "No, it's a song about eating peaches." Solid reply. Solid band. Great song and top quartile fun video.

Youtube here.

Plateau Energy (PLU.v) plays legalese

Plateau Energy (PLU.v) has just released this NR:

TORONTO, March 15, 2019 (GLOBE NEWSWIRE) -- Plateau Energy Metals Inc. ("Plateau" or the "Company") (TSX-V:PLU) (OTCQB:PLUUF) reports that it has been made aware that information was published by a third party late yesterday surrounding certain concessions in its 93,000 hectare land package being not in good standing. The Company wishes to confirm all of its mineral concessions are in good standing and are 100% controlled.  The Company regularly confirms concessions are in good standing via the regulatory body's online database and title opinions provided by independent legal advisors as a normal course of business.
Work commitments in accordance with regulations have been and were properly incurred and filed with the Peru concession regulatory body INGEMMET.
"It's disappointing to see this irresponsible spread of misinformation," stated Alex Holmes, CEO. "Plateau is actively engaged with the government and communities where it operates, and will continue to operate in an open and transparent manner to the benefit of everyone involved."
The Company is in the process of determining the source of the misinformation and is considering legal action. Plateau may provide further clarification in due course if deemed necessary.
About Plateau Energy Metals

What it fails to explain or refer to are the rulings emitted by Peru's INGEMMET this year, namely ruling 405 dated February 14th 2019 and ruling 464 dated February 20th. Your author has a copy of these documents (just in case PLU are looking in today, as they are apparently thinking of taking legal action against this blog and may like to think again about how much shareholder money they'd waste by doing so) and will be happy to use them in evidence, come the day. These documents state that the payments due to the government of Peru on 32 concession blocks held by the wholly owned subsidiary of Plateau Energy have not been made on two consecutive years and that according to the rules, those concessions are now lapsed. What PLU may be hiding behind today is the fact they have the right to appeal to March 31st, but that does not invalidate the INGEMMET ruling. Or to use the PLU CEOs own words,  it's disappointing to see this irresponsible spread of misinformation. That these people insist on hiding behind sophistry and carefully selected phrasing to make half-truths sound like something else is all too typical in the shady world of the junior mining company. 

In short, sue me. You'll lose. And you know it.

Original post here.

CoatGate! Jerry Twocoats Huang responds

Here, on CEOca (where else?, birds of a feather etc). IKN strongly advises you to go and read Jerry Twocoats' side of the story. Once you do and have digested his version, consider this; In order to believe his excuses you need to believe the following line items:
  • His taking of the coat, according to the investigators to be deliberately done when the coat-check person was not looking, was done innocently while already in possession of a second coat.
  • He did not realize he was leaving the restaurant with two coats (and frankly, you can forget all other items on this list. Leaving with the wrong coat is one thing, leaving with two quite another).
  • His claim that there were only business cards in the pockets the next morning, even though the owner of the coat reported several extra items including his PDAC name badge in the pockets.
  • That he has so little respect for the possessions of others that he is capable of "forgetting" he has somebody else's coat in his hotel room. For two days. In a sub-zero Toronto.
  • That even though he took the coat in Toronto, he thought it best to return it in Vancouver. What's more, both the owner of the coat and the company at which he works are in Toronto (and let us not forget, Huang had those business cards in the coat pockets).
  • That he kept quiet about having the coat right up to the moment when investigators contacted him through simple innocence and bad timing. By this time he is at home in Vancouver.

Meanwhile, in order to believe he simply stole the coat you need to believe the following:

Put bluntly, if you are capable of swallow the story spun by Jerry Twocoats Huang whole, this humble corner of cyberspace strongly suggests you never invest in the junior mining sector because you will die poor.


Plateau Energy Metals (PLU.v) mega fail

On February 20th 2019, Peru's geological regulatory body INGEMMET, via its Presidential Resolution 0464, decreed that due to non-payment of concession fees in both 2017 and 2018 the wholly owned subsidiary of Plateau Energy Metals (PLU.v) would be stripped of 32 concessions from its flagship project in the Macusani region of Puno, Peru. What's more, one of the 32 concessions now stripped from the company is Ocacasa 4 which is 1000 hectares of the total 1,700 hectare zone of the property that contains its lithium resource. 

This snafu rates highly in IKN's "Annals of Material Event Disclosure Failure." Frankly amazing that the company has tried to keep this under wraps.

The CoatGate scandal (an IKN exclusive)

Here's what went down during PDAC 2019, ladies and gentlemen and better insight to the true motives of a person responsible with the financial well-being of public companies (i.e. the money of others) is difficult to imagine. Your author has been informed of the goings on here from a strong source and has ratified the story by checking with others involved.

The brokerage Cormark held a reception event during PDAC 2019 at King Taps, a trendy bar and restaurant in downtown Toronto. It was a invitation-only evening that reserved an area of the restaurant and what with it being darned cold during the week, the ticketed coat-check offered by the establishment became very popular. Come the end of the evening and one of the guests, who will remain nameless as his ID is not important to the story but was a guest at the event and not an employee of Cormark, went back to pick up his coat only to find it missing. As these things happen during evenings of alcoholic drinks and merriment, according to the IKN source the now coatless guest expected the mistake to show up the next day and to get his property back after somebody else's error was discovered. However, after two days passed and no news about either his coat or the belongings in its pockets, he decided to report it missing.

Which is when the fun began. As is correct under the circumstances, IKN learned that King Taps took the security breach very seriously and reviewed all security camera recordings of that evening. On doing so they quickly identified the main suspect, a man who is taped getting his own ticketed coat and then, while the coat-check staff member is distracted, deliberately swiping a second coat. He then immediately leaves the restaurant on his own with the two coats (i.e. not much chance he was helping a friend with his coat). With video evidence in hand, King Taps contacted Cormark, the organizers of the event. Cormark also took the incident very seriously and convened internal protocol to review the King Taps tape in order to put a name to the apparent thief. The reply was swift in coming, the man in the images was Jerry Huang, the CFO of not one but two Vancouver-based junior mining companies, namely IMPACT Silver (IPT.v) and Energold Drilling (EGD.v).

The security team proceed to contact Jerry Huang, who according to reports received by IKN and verified by a third party became very nervous and eventually told those investigating that he had made a mistake, didn't realize the coat wasn't his and had planned to return the coat. However, this flies in the face of obvious evidence, such as the way that Mr. Huang was in Toronto for two days after the coat was stolen, how he then got on the plane back to Vancouver with the coat in his possession and most interestingly, when he handed in the coat (to people from the same company in Vancouver, rather than in Toronto), all belongings that identified its true owner had been removed from the pockets (and there were multiple bits and pieces, including a whole bunch of business cards, the coat owner's PDAC conference badge and personal security keys). Exactly what an experienced thief would do when stealing an expensive coat, in fact.

People, these acts would be highly suspicious and point to a person of dubious moral character if they were butcher, baker or candlestick maker but screw that, this is a Chief Financial Officer of two junior mining companies! If you were invested in either of the companies who employs this person, IMPACT Silver or Energold Drilling, wouldn't you like to know about his extra-curricular activities involving his lax attitude toward the property of others? At the very least, we think that the companies in question owe it to us in the investment community to investigate these matters and make a statement or two about their choice of person in charge of the keys to the treasury of IPT and EGD.

CoatGate! A story of PDAC theft

Want to know all about the most interesting scandal story of PDAC 2019? Well folks, look forward to reading all about CoatGate, coming soon to this humble corner of cyberspace.

Ian Telfer: Take The Money And Run

Ian Telfer really wants his obscene Goldcorpse (GG) payola, to the point here he's willing to sacrifice his Deputy Chair of Newmont (NEM) role once the deal is sealed. This way he gets to argue that the change of control isn't just a round of fakery, I suppose. The NR:

VANCOUVER, March 13, 2019 /CNW/ - GOLDCORP INC. ("Goldcorp") (TSX: G,NYSE: GG) announced today that Mr. Ian Telfer, the Chairman of Goldcorp, has informed Newmont Mining Corporation ("Newmont") (NYSE: NEM) that he will not be joining the Newmont Goldcorp Board of Directors upon completion of the proposed acquisition of Goldcorp by Newmont.   Mr. Telfer is focusing all of his efforts on having the Goldcorp shareholders approve the pending transaction with Newmont.  
"I am excited about the creation of the world's premier gold mining company, Newmont Goldcorp, and appreciate Newmont's support in my decision to not join the board, as they have supported all of the agreements that have brought this merger together," said Ian Telfer, Chairman of Goldcorp.

Whole thing here.

UPDATE: A. Reader adds another valid point:
" not joining the board he doesn’t have to register as an insider of Newmont and thus can sell his stock when and where he wants, without public scrutiny."

Ecuador: The Azuay referendum question on mining is suspended

With just ten days to go before the vote, the government of Ecuador went into mini-celebration today when the referendum question on whether the Giron canton will allow mining was suspended by a court ruling. According to the ruling, the referendum cannot go ahead until the Constitutional Court (CC) hands down a decision. This contradicts the ruling that allowed the vote to happen, because it was precisely because the CC has failed to do so in over three years that opened the door for the addition of the popular consultancy question to the upcoming municipal elections being held on the same day, March 24th. The government of Ecuador and the mining companies want to trap the issue in some kind of legal limbo and pretend they wouldn't have lost the vote by a massive margin in two Sundays' time, which by sleight of hand they are apparently capable of doing. However, if you think this makes INV Metals' ( Loma Larga project an inch more viable you need to read that certified dumbass Byron King and not this humble corner of cybersapace.


East West Petroleum gives us a mystery

A NR late last night (ty reader C):

Vancouver, British Columbia:  March 12th 2019 – East West Petroleum Corp. (TSX-V: EW) (“East West” or the “Company”) announces cancellation of the annual general and special meeting (the “AGM”) of the shareholders of the Company (the “Shareholders”), which AGM was scheduled to be held at 10:00 a.m. (local time) on Friday, March 15, 2019 at Suite 1500, 1055 West Georgia Street, Vancouver, British Columbia, Canada.
An announcement with a new date will be forthcoming when coordinated. All resolutions proposed for presentation to the Shareholders in the Notice of Annual General and Special Meeting of Shareholders, the accompanying Management Information Circular and the form of Proxy, which were previously mailed to all Shareholders, are anticipated to be amended and mailed to all Shareholders prior to the re-scheduled AGM being held.
About East West Petroleum Corp.

No reason for the cancellation, given though. Hey! Do you think it may perhaps be due to the fact that the boss is under arrest in The USA on wire fraud charges? Or is that mere coincidence?

B2Gold (BTG) ( 4q18 financials

Without going into the deeper details...

...this isn't my idea of an improving company that is generating profits to pay down its debt this year. I mean yeah, they're making money, yeah, but where are the massive globs of free cash flow we were promised? Q1 was right on, Q2 acceptable, but what's the model for the quarters to come? Q4? Hope not.

Victoria Gold (VIT.v) is a joke

Are these people serious?

TORONTO, March 12, 2019 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX.V-VIT) (Victoria or the “Company”) has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis, a combination of common shares (the “Common Shares”) and flow-through common shares (the “Flow-Through Common Shares” and together with the Common Shares, the “Securities”) to provide the Company with gross proceeds of at least approximately C$30 million (the “Offering”). The Common Shares will be offered at a price of C$0.44 per Common Share, with minimum gross proceeds of C$30,008,000 and maximum gross proceeds of C$32,555,900. The Flow-Through Common Shares will be offered at a price of C$0.53 per Flow-Through Common Share with up to C$15,004,300 of gross proceeds. In the event that no Flow-Through Common Shares are subscribed for, the Underwriters have agreed to buy the number of Common Shares to provide the Company with gross proceeds of approximately $30 million. The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Common Shares to cover over-allotments, if any. The Offering is expected to close on or about April 2, 2019 and is subject to Victoria receiving all necessary regulatory approvals.
The net proceeds from the sale of the Common Shares will be used for construction and operations of the Eagle Gold Mine and general corporate purposes.

Let us recall, this is the very same company which sold its project via a Feasibility Study (a full FS, not a PEA or PFS) by saying it would cost C$369m to build.

That then went and raised C$505m to build its mine after spending around C$38m on its build, which means it was C$174m over budget before we were out the blocks.

And now requires another C$30m on top of that to do the job. Again, we're still not there yet and the chances are high they'll top up again before ever going cash flow positive. Now with a massive debt pile, a 5% NSR to pay on production and a share count moving to over 850m, just another example of the utter BS that passes for normal business practice in the world of mining. 


Northern Dynasty (NAK) hoses its retail investors

A U$10m bot deal just announced, priced at U$0.64:

As the old saying goes: "Shareholders? If they can't take a joke, f_ck em."

David Sidoo, SAT scandals and East West Petroleum

Those of you with longer memories may recall the pump and dump Marin Katusa ran on East West Petroleum (EW.v) in cahoots with his pals at Casey Reseearch. EW.v was at that time a company owned by one of Katusa's many slippery Vancouver pals David Sidoo. At the time IKN covered the obvious P&D closely, then got even more impressed by the BS when Porter Stansberry got involved  and in the end wondered how blatant a trade pattern could get before the authorities were called in (answer; they never were, this is Vancouver).

Vancouver businessman David Sidoo charged in U.S. college-entrance scandal

Sidoo is accused of making two separate $100,000 payments to have someone else take SAT entrance exams for his two sons.

 Vancouver businessman and former CFL player David Sidoo has been charged with conspiracy to commit mail and wire fraud in connection with a far-reaching FBI investigation into a criminal conspiracy that sought to help privileged kids with middling grades gain admission to elite U.S. universities. Continues here.

Also, you may also recall that after that cycle of EW.v blew up, the company re-invented itself and tried a different business plan under a new CEO: Sidoo's son. That failed, too. Possibly a brains trust issue.

Victory Metals (VMX.v) looks overpriced out the gate

This is the Palisade pump job based round the Iron Point vanadium project near Elko, NV. Behind this 70c and 75c public price are a whole swathe of shares issued last year at 20c and 35c (options at a 35c strike too), held by such philanthropic wonders of Vancouver as Marin Katusa and Cal Everett. When the green light goes and 40m or so shares come out of escrow, it's going to be an almighty rush for the door at this price so they're going to have to work on getting that traded volume average up...looking thin so far, despite peppering the market with five NRs over the last month.

Strong suspicions at the humble corner of cyberspace that VMX is betting on Palisade suckering enough people with more money than sense at its Jekyll Island conference in May. Guest speakers? Oh look, Marin Katusa! There's a coincidence!

You have been warned.

The copper bull is intact

Copper broke out and rose above the U$2.90/lb line on February 20th. Since then, and even after its soft day or two last week, the contract has traded above that line on every day to date. It took seven months to break out of its rather stagnant trading range, but now it's out this is obviously no flash in the pan.

The move up this morning is welcomed by your humble scribe because I haven't been bullish on the metal all this time just on a coin-flip. Let the naysayers talk you into their narrative of soft Chinese demand, round these parts we ignore the lip-flappers and work on the hard data, they say copper hasn't even begun to reach its fair price.

The other advantage to this sub-sector is that there are real trade options in the junior mining companies exposed to copper. It's not that quality companies abound (and there are always the dogs and moose pasture salespeople waiting for you), but search around and there are significantly undervalued companies with real and valuable copper assets on offer. I've just added a 5th to my portfolio and I'm longer copper than gold by quite a stretch now.


Testing the new keyboard

Seems to be working well enough, subbers. Thank you for your patience.

Couldn't happen to a nicer guy

Keith Piggott, serial destroyer of OPM, gets his.

VANCOUVER, British Columbia, March 11, 2019 (GLOBE NEWSWIRE) -- Core Gold Inc. ("Core Gold" or the "Company") (TSXV: CGLD, OTCQX: CGLDF) announces that its Board of Directors has terminated for cause, the consulting agreement of the Company’s President & CEO, Mr. Keith Piggott, and has removed him as President & CEO effective immediately. Mr. Piggott had been previously put on notice by the Board of Directors.

Full NR here and oh, to be a fly on the wall. I'll never forget the ConfCall I had with that joker when he splained me all about community risk at Caballo Blanco.

Newmont and Barrick are BFFs again

Called it likely in the weekly yesterday, too. All the signs were there.

On the week Barrick rose 5.0%, which was a good snap-back performance from the world’s biggest gold miner but it’s not something that can be taken in isolation while the whole NEM/GG/hostile scenario goes on. Therefore we also note that Newmont (NEM) lost 0.3% on the week and Goldcorpse (GG) improved by 1.6%.

The reduction of the arbitrage between GG and NEM by nearly 2% is an indication that the market thinks that deal is now more likely. When we add in the newspaper reports last week of NEM’s Goldberg and GOLD’s Bristow meeting and having constructive discussions, this also explains the out-performance of GOLD compared to the rest of the market. Although we do not know for sure, it’s a safe bet that “constructive discussions” between the two big boys refer to synergy savings around the Nevada assets owned by both. If Barrick manages to nail down some type of JV deal with NEM (in exchange for backing off on the hostile angle), it would manage to get most of what it wants without incurring any further failure risk (or having to swallow any of the less palatable corners of NEM) and that would be good for its share price. Meanwhile, NEM sees the potential premium in its price unwind and Goldcorpse rebounds (the way it has) because there’s nothing left to stop its merger.

This isn’t over by a long chalk (and do not underestimate the stopping power of over-inflated egos) but the week saw the ABX/NEM hook up becoming a little less likely. That’s not an opinion based on personal bias, that’s what the numbers say.

The IKN Weekly, out now

IKN511 has just been sent to subscribers and I'm going to bed.


And the Shareholders' Gold Council (SGC) has its say on the Goldcorpse (GG) bonus payments

Right here.

Shareholders’ Gold Council Condemns Goldcorp’s Board of Directors

On March 7, Goldcorp filed its proxy circular in connection with its proposed acquisition by Newmont, where it was disclosed that:

“In contemplation of the Arrangement, Goldcorp and Ian W. Telfer (Chairman) amended the terms of Mr. Telfer’s employment agreement to provide that, in connection with completion of the Arrangement, Mr. Telfer will be entitled to receive a lump sum payment retirement allowance from Goldcorp equal to approximately US$12 million, an increase from his current entitlement of approximately US$4.5 million. The increased amount of the retiring allowance was recommended by the Human Resources and Compensation Committee, reviewed and considered by the Goldcorp Special Committee, and approved by the Goldcorp Board on the basis of Mr. Telfer’s role as founder and strategic leader of Goldcorp subsequent to the acquisition of Glamis Gold Ltd. in November, 2006.” (Emphasis added)

The Shareholders’ Gold Council (SGC) expresses its condemnation for Goldcorp’s Board for approving this gratuitous additional payment to Mr. Telfer, and in particular for the members of its Human Resources and Compensation Committee, Kenneth Williamson (Chair), Margot Franssen, Randy Reifel and Charlie Sartain.  On top of having awarded Chief Executive Officer David Garofalo an outrageous change of control package of up to Cdn. $11 million, despite his role in destroying over Cdn. $3.7 billion in shareholder value, Goldcorp’s Board saw fit to continue its blatant disregard for alignment between executive compensation and the interests of Goldcorp’s shareholders by altering the Chairman’s already bloated pay package ahead of the transaction with Newmont.  While Goldcorp is telling its shareholders to sell their shares close to a 13-year low, Goldcorp management stands to reap over US$33 million in potential change of control payments.    

As if lining his pockets with Goldcorp shareholders’ money – to the tune of approximately US$11.8 million since 2006 – was not enough, Mr. Telfer, with the support of Goldcorp’s Board, is now effectively pillaging Newmont shareholders for an additional US$12 million, even though he will be continuing on as Newmont’s new Deputy Chair.  This comes despite the fact that under Mr. Telfer’s perennial reign as Chairman of Goldcorp’s Board, Goldcorp’s stock price has collapsed by nearly 60%.  In Mr. Telfer’s role as a “strategic leader” at Goldcorp, he has presided over one of the most disastrous and egregious examples of shareholder value destruction in the mining industry.

SGC asks that the Goldcorp Board and the Newmont Board each publicly state how increasing Mr. Telfer’s retirement allowance benefits their respective shareholders.     
In the view of SGC, the Goldcorp Board’s approval of this additional “retirement allowance” to Mr. Telfer is another showcase example of directors choosing cronyism over the interests of shareholders.  Shareholders are advised to remember the actions of the above-mentioned directors as well as Beverley Briscoe, Cristina Bitar, Matthew Coon Come and Clement Pelletier.  SGC believes that continued consolidation in the gold sector is plainly necessary so that the enrichment of directors and management teams at the expense of shareholders comes to an end by ridding the industry of poor stewards of shareholder capital.

What Adrian Day thinks of Ian Telfer's bonus payment scheme

Excerpted from the latest edition of "Adrian Day's Global Analyst", dated March 9th (edition 720) and following on from the news, as seen on these humble pages a couple of days ago, that Telfer has unilaterally tripled his change of control payment in light of the Newmont takeover:

"To triple Telfer’s payment right before the acquisition is one slap in the face too many, an insult to shareholders. We intend to vote against the merger with Newmont if this payment is not rescinded. We have no voice in these payments, so this is our only way to make our position clear."

Well said, Adrian Day. We only hope that more Goldcorpse shareholders will join his cause and make it clear to these self-serving toerags that unless this graft is withdrawn, they don't get the votes.


The Friday OT: The Smashing Pumpkins; Mayonaise

Live version from the early 90s (Billy got hair). He also gets distracted by somebody beautiful in the front row, forgets the words, then the band seems to compensate and it takes off, moving up from a standard rendition into something special.

Dedicated to Rudy Havenstein and Nick Avery. Youtube here.

Statler and Waldorf do BNN

Joe Mazumdar and his freeloading hanger-on, Legendary Legend Brent Legend Cook, did BNN's Market Call as part of PDAC this week. This humble corner of cyberspace may be a little late to the gig due to travel commitments and all that, but it's still worth pointing you all in the right direction to the segment (45 minutes of an hour, adverts cut out) because it's high quality viewing for anyone into the junior mining sector. Interesting Top Pick calls, too. Find it all right here on this link. Bingo!

Copper has lost the U$2.90 line this morning... least on its futures contract (spot is hanging right at 290p), though arguably the real line in the sand is at U$2.85.

We shall see.


Ian Telfer is a greedy grafter

From A. Reader, who picked this out of the Goldcorpse (GG) circular, page 88. Most interesting.

In other words, Ian Telfer had an existing change of control agreement (fine). Once the deal becomes real, for some reason he alone (no apparent oversight on this) decides he can TRIPLE it. Shareholders didn't approve this, all they've done is see the stock price move from $30 to $10 on his watch. Just a small example of where the top people at Goldcorpse have been focused: filling their own pockets.


Barrick now too important for Canada

Thank you reader E for the photo, taken midday yesterday peak PDAC.

UPDATE: Reader M offers insight:

"Barrick pdac - maybe they are showcasing all of their world class people. All of them, at the same time..."


Posting will be light on this blog for the next few days

For secret reasons.


Doug Beattie does uranium

If you're into the uranium miner space, the five part series written this year by industry expert Doug Beattie is well worth your time and as the last part has just been published, now is the time to bring them all to your attention. Also, don't confuse Beattie with one of the self-appointed or pretend experts, he's a real-live multi-decade peer-approved hands-on miner's-miner expert in his field. He's also unafraid of speaking plain truths and calling out the charlatans, so the five links below are double trouble for anyone or company trying to BS you out of your money.

Enjoy them all.

The IKN Weekly, out now

IKN510 has just been sent to subscribers. Words and numbers.

Pick up your PDAC Bingo Card from Silver Range Resources (SNG.v)

Ready and waiting for any and all attendees of PDAC. Go along to the SNG.v booth #3124 and get yours today.


The top three most visited IKN posts this week are... reverse order:
Third Place: "The best reason to oppose Barrick's move on Newmont". Hey Bristow, when they told you to go "hunting in elephant country" for the next world class mine, you weren't supposed to take it literally.

Second Place: "Van Eck and junior exploreco liquidation". And thanks to the couple of people who mailed in to confirm the info in this post (though the source was strong anyway). Also thanks to the person who told me how they'd contacted Van Eck to ask whether true and one department reported back that another department flatly denied it. They're like politicos, you can tell when they're lying because their lips are moving.
First Place: "Your 2019 PDAC Bingo Card". Always popular.


The Friday OT: Soundgarden; Burden in my hand

The earworm I've had about Soundgarden in 2019 has been serious, deep and great fun. I've gone for this track today because after listening to it carefully these last few weeks have come to the conclusion that it's such a rock cliché track that it shouldn't work. Lyrics about distraught relationships, alcohol and depression, the chord changes straight out the book, searing vocals, produced to within an inch of its life. But the problem is, it does work and amazingly well, too. Rock icon music and impossible not to adore, Cornell's voice makes it of course but the guitar drives it (like any good rock track). So anyway...Soundgarden...Burden....enjoy it too.

Even the video is a cliché that works. Youtube here. I'm in the sunshine. The sun is mine.