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4/26/19

The Friday OT: Elton Britt; Uranium Fever

My thanks to reader 'OM', this tune from 1955 and proof that there is nothing new under the sun.



Youtube here.

GLD inventories: Nobody cares about gold*

The drop in GLD bullion inventory continues.



Now 747.87mt and 17.7 tonnes to go to reach the 2018 low point.
 
*until they do

Gold is interesting today (for a change)

It's been going through one of its boring phases recently, but the action today...



...is a change (link to chart here). US GDP number came in nicely, gold did what it's supposed to do under strong GDP circumstances and dropped sharply, then out of nowhere buyers step in (were they up for the liquidity event?). Gold is up when it "shouldn't be", take due notice ladies and gents.

4/25/19

Argentina: A flowchart on country risk for mining companies

I've tried to make this as simple as possible, so that even people who subscribe to Casey Research, Louis James and Byron King can understand:



Further questions?

Allan Barry Laboucan is building a quartz mine

No ordinary quartz mine, either. At Advance Gold (AAX.v) there is some of the purest, deep vein quartz you can imagine and almost totally uncontaminated by any sort of metal. NR here, "headline" here:

Advance drills 1.05 m of 0.58 g/t Au at Tabasquena

And if a metre of half gram gold at depth is the strongest return from your drill campaign, imagine how bad the rest is. Jeesh, what a scam. Thing is, we know full well that the two-faced liar running this show has zero qualifications in geology, engineering, legal or corporates but we do know he's a brazen promoter willing to push a BS piece of chinchilla pasture to the max. He also knows that there's a sucker born every minute and many of them end up reading Canadian mining's scam central, CEOca, which is why he spends most of his office hours there.

4/24/19

Been down so long....

...that it looks like up to me.


Beware the lizard brain

A few weeks ago (as subscribers know) I made some substantial sales and raised cash for the account. Even though I've since deployed a fair chunk of it there's still a decent amount of dry powder left in the account, waiting for a trade and a new home in junior mining equities.

So why am I pissed that the mining sector continues to sell off? Sure I'm still net long and would prefer investments to rise in price rather than fall, but the chance I'm currently enjoying, that of waiting and buying in at even lower prices than today, should be something to celebrate. The only people who should be truly annoyed at the continued drop in miner shares are those that are already fully bought in and bemoaning their trapped status. I caught myself feeling crappy about the market this morning and once the reflection was in, realized that I'd been that way all week and that, ladies and gents, is my lizard brain at work. Not good for sound investment strategy, that part of the brain.

4/23/19

A Guyana Goldfields (GUY.to) proxy battle thought of the day

According to both officially filed documents and dissident publications, we can paraphrase Patrick Sheridan's position by saying he firmly believes Scott Caldwell to be an asshole. Equally, we can paraphrase Scott Caldwell's position by saying he firmly believes Patrick Sheridan to be an asshole.

Perfectly possible that both are right.

4/22/19

Guyana Goldfields (GUY.to): The 2019 Management Information Circular

This morning, Guyana Goldfields (GUY.to) filed its 2019 Management Information Circular to SEDAR. Normally these are rather dry documents (though useful), but not this time. This is the best demolition job on a mining man I've seen in years in the sector. Go read what Patrick Sheridan was up to in his time at the company, it's quite a thing.

4/21/19

The IKN Weekly, out now

I didn't know that


IKN517 has just been sent to subscribers and after doing a stupid thing yesterday my foot hurts, so I'm going to get it horizontal as from now and put some ice on the bit that's swelling. As for the Weekly, we look at a bunch of companies that have reported their 1q19 production numbers to see which ones impressed. Certainly not all of them.