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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.

People are worried about the price action in gold today

Or so I hear.


Can somebody ask Keith Neumeyer...

...if he feels stupid about his permanently incorrect silver predictions yet?

At what point do you give up and admit you're wrong, Keith? That you don't understand what's driving the silver market and all the spiel you offer the dumb and naive is just so much tosh and nonsense? Two years? Three? Five? It's incredible how stupid you are about the metal that you mine, Keith. Pretty freakin shameful, in fact. 

Gary does copper (again)

Gary T over at NFTRH has this up on the copper chart this afternoon. He's trying to scare me out of my strong longs, perhaps? Anyway, go look (before Cu zips over $3 and makes him eat crow).

Nice to see Prize Mining (PRZ.v) trading again

Loved the way they opened it up at 5c, too.

I'm going to guess at a 10-for-1 rollback. Maybe just 5-for-1.

Just 25 days to go before Byron King...

...gets his ass handed back to him on a silver platter for being plug dumb stupid enough to reco INV Metals ( to his bunch of idiot sheep. The March 24th referendum, Byron, stick it in your diary, watch what happens.

Pan American Silver (PAAS) and the Escobal mine, Guatemala

Anyone who thinks PAAS is going to have a better time of it than the late and unlamented Tahoe Resources at Escobal in Guatemala should have a read of this op-ed published yesterday in Guatemala's 'La Hora' by one Víctor Ferrigno. Spot-on analysis of the issues now arising and also, one of the very few reports of the protests outside Guatemala's Supreme Court this week by the Xinca people around the mine site.


Wall St continues to ignore gold

Inventories at GLD lost 35.54 metric tonnes in February to date and now sit at 788.33mt, the lowest level of 2019.

Also, the GLD price/inventory ratio is at lows not seen since early 2016. Wall St doesn't give a hoot about owning this stuff. Yet.

Van Eck and junior exploreco liquidation

Word reaches this desk that Van Eck has made a strategic decision to stop investing in exploration stage junior mining companies (i.e. if it's not a producer, no more Van Eck) and as a result, has been quietly liquidating its positions. So if you happen to be holding a junior that's been under pressure of an apparent bottomless seller (we know that Van Eck positions tend to be big ones), you might want to find out if those guys were ever buyers or holders of the stock.

Your 2019 PDAC Bingo Card

Welcome once again, ladies and gentlemen, to IKN's lovingly-created contribution to the main mining bunfight of the year. Indeed and indeedy you are right, it's time for The IKN PDAC Bingo Card. Here come your easy-to-follow instructions:

1) Print off your copy
2) Walk around PDAC next week and when you overhear one of the phrases, cross it off.
3) As soon as you fill your card, send it in to IKN Nerve Centre for your fabulous prize*.

And once again, we are happy to inform that in the same style as 2018, Mike Power and the team at Silver Range Resources (SNG.v) are going to print off a bunch of bingo cards and run their own competition using them (which involves a top prize of something tasty with a cork stopper bottle, so the rumour goes). Find SNG at booth number 3124.

So without further ado, here's the 2019 edition of PDAC Bingo:

Have at it, begad!

*A signed copy of Mark Bristow's ego.


The best reason to oppose Barrick's move on Newmont

Right now there are contenders and competition for the top spot in the precious metals mining world. The number one position has been Barrick, Newmont, even Goldcorp if you go back a couple of years. Right now today it's Barrick, but assuming the Newmont/Goldcorpse merger goes through that consolidated company will return NEM to the top. Aside the classic race, Australia's Newcrest has flown up the rankings recently and you can even make a case for a couple of the massive (though somewhat opaque) Chinese entities.

However, if Barrick buys Newmont there will be no further questions or debate. That iteration of Barrick would be the biggest PM miner in the world and by quite a distance, no matter how much asset disposal goes on afterwards. And therein lies the best reason of all to stop Barrick from taking over Newmont, because it would be run by a person who goes big game trophy hunting for fun. The mining industry has enough bad press and optics as it is, what it does not need is to have an absolute fucking asshole as its big cheese top table no dispute clear number one big figure. Because that's what people who go big game trophy hunting are, absolute fucking assholes.

UPDATE: Thanks Lawrence.

Chart of the day is...

...copper, dailies:

Day five over the U$2.90/lb line. Copper settling into its new lodgings nicely.


The finalists for #DisruptGoldcorp are announced

PDAC Announces Three Finalists to Make Their $1 Million Pitch at #DisruptGoldcorp Live Finale

TORONTO, Feb. 25, 2019 /CNW/ - PDAC INC. (TSX: PDAC, NYSE: PEEDAQ) ("PDAC") today announced the three finalists selected to pitch to the distinguished panel of judges at the #DisruptGoldcorp 2019 live finale. These innovative executives will present the ways in which they have ruined Goldcorp as a company and left it a shell of its former self, with high cost operations and a disaster of a balance sheet. The three finalists selected to pitch their disruptive ideas and technologies at #DisruptGoldcorp 2019 are:

  • Ian Telfer, who placed short-term gain over long-term sustainability and ruined Peñasquito.
  • David Garofalo, who brought the David Brent school of management to head office and wasted all his bullets on a laughable deal in Chile.
  • Mark Bristow, who by revealing the Emperor's New Clothes aspect to the NEM deal has stuck in thr final knife.

Join us at PDAC to see which of this young upcoming executives takes the $1m prize.

Barrick runs at Newmont

I've just been through the Barrick presentation deck (on this link) before the Conference Call starts. The "capturing the missing billions" hook is a good one. 

I don't mind admitting that I thought Bristow's opening on NEM last week were some kind of ruse. Don't mind admitting I was wrong, either. Let's see what NEM comes back with, as their principle task is now to defend and justify the Goldcorpse merger. GG's share price and its spread with NEM, that will be the barometer to tell you which way the market sentiment is leaning. And as pointed out to me on Twitter this morning, BlackRock is going to be an active part of this what with that house's holding in Barrick (4.3%), Newmont (14.9%) and Goldcorpse (7.2%).

The IKN Weekly, out now

Apparently a brand of high quality helmet
 popular in several extreme sports. I had no idea.

IKN 509 has just been sent to subscribers. Better than last week's tosh and nonsense.