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4/11/20

Wishing you all a pleasant Easter Saturday

Easter Saturday is a big day, people. Today, Jesus is dead. Dead as a door nail. He'd just been nailed to a cross and died on it, his people had taken the body away and given it a dignified resting place. Show's over folks, go home, another one bites the dust. A movement surrenders to the gloom and admits defeat, there really isn't much left to do except wait and accept fate, whatever it might be when it arrives. At that time, around eighty percent of the people caught by the authorities were given a light sentence, but twenty percent got into real trouble and perhaps five percent died. But the minds of his followers were already imaging the worst. They went home and hid away, unwilling to be seen in public else get in trouble with the law.


4/10/20

IKN welcomes the Eric Sprott Covid-19 Truther Brigade

This humble corner of cyberspace welcomes the newly found attention of the mouthbreathers who have come to believe confused and doddering Canadian multimillionaire Eric Sprott is the fountain of all wisdom (as well as other such pearls, e.g. ZeroHedge is the 21st Century's Bible). We at IKN Nerve Centre are pleased that these dregs of society turned their collective attention to our pages and are now sending in long, rambling missives explaining the truth, because the more time Eric's trolls spend around me, the less they have for more vulnerable or naive people who might take anything vomited from their bitter and twisted imaginations as even approximations to the truth.

Eric Sprott, you really are a danger to society these days. All talk, no backbone to admit when you are wrong, a thuggish band of troglodytes as sycophants. You should be damned well ashamed of yourself for propagating lies about Covid-19. You should be ashamed of lying about having read all the literature when you most obviously have not. Shame on you.

Wishing you all a pleasant Good Friday

It's not an easy time for the world in April 2020, there are plenty of new problems to contend with and worries to have. You may have been laid off or furloughed, you may have already been directly or indirectly affected by a Covid-19 infection, as having family or friends affected expands waves of concern and stress in its own negative and viral way. Your stock portfolio may have been hit hard and with it dreams dashed, you may be having trouble handling an extended period of social isolation. All these can be problematic, though it is interesting to stop a moment and compare any of them to being nailed to a cross until you die. Hope you have a good Easter weekend.

4/9/20

Boris out of ICU

Good. Very good, in fact. We all hope he has learned something from the experience.

An important and positive day for the gold mining sector

And not just because the gold price took another leg up, either. Today's action is a sight for sore eyes because we're now seeing the early impulse of cash into the sector, the one via GDX, GDXJ, NEM and GOLD, rotate into the smaller names and in all corners of the mining sector, too. Mid-tier and junior producers, junior explorecos and developers, even tinycaps are getting their share of the lift.

The caveat is always volume, make sure the company you are considering has its fair share. Aside that, for the first time in weeks I'm looking forward to writing the Weekly this weekend. Have a pleasant Maundy Thursday, I'll leave you with what it sounds like after you deny Jesus of Nazareth three times before a crowd and then a cockerel crows.


"He wept bitterly." Youtube here.

The disgusting Crestview Exploration (CRS.cse) pump: Would the real James Campbell please stand up?

News from the BCSC and ASC this morning, as some utter toerag called James Campbell (in his own words "Geologist and Stock Analyst", though no reason at all to suppose the excuse of a human being is telling the truth) is pumping a Moose Pasture special, one Crestview Exploration (CRS.cse, on the wild west exchange as well). Okay not the first time ever some chancer has run a P&D on a Canadian exploreco for sure, but this nefarious individual is using Covid-19 scare tactics to do so. Here's the regulatory missive:
Vancouver and Calgary – The British Columbia Securities Commission (BCSC) and the Alberta Securities Commission (ASC) are warning the public to exercise extreme caution about aggressive promotion of Crestview Exploration Inc., a B.C. gold mining company.
A mailing sent this week from a “stock analyst and geologist” to residents of B.C., Alberta, Manitoba and Saskatchewan makes exaggerated claims about Crestview, predicting that its stock price “will soar as the recession hits.” The letter comes in an envelope, without a return address, that says in bold red letters, “CORONAVIRUS AFFECTING MARKETS: READ NOW.”
“The short-term upside potential for investors buying shares of Crestview Exploration today is around 500% while long-term shareholders (12+ months) could see gains exceeding 2,400%,” the letter says.
Crestview, listed on the Canadian Securities Exchange and the Frankfurt Stock Exchange, issued a statement April 8 stating that it was not responsible for the promotion, and said the letter contained “unfounded forward-looking statements.” The company urged investors and potential investors to verify any statements, and the source of such statements, contained in buy recommendations.
The BCSC and ASC reminds investors to exercise caution when considering aggressive promotions as a basis for investment decisions, as these promotions may make false claims of large profits and baseless stock price projections. Most aggressive stock promotions in recent years have been done through unsolicited email or social media, but promotions delivered through the mail carry the same risks.
The BCSC and ASC encourages anyone who is considering buying or selling an investment to do research or talk to their registered investment advisor to ensure it is an appropriate decision. For information on how to become better informed about investment products and services, please visit InvestRight at  www.investright.org or Checkfirst at www.checkfirst.ca .

And here is the pumpjob that the utter trash James Campbell sent to his victims, a three page PDF:





By the way, chances of Crestview not knowing this pump was going to happen are precisely zero and if you think otherwise, close your trading account now because you'll be a lot richer in five years' time if you do.

As for James Campbell, the nice generic name is suspicious, as is the fact that if you Google his name and "geologist" you see multiple people around the world fit the description. Very likely to be just another layer of BS.

The case of Santacruz Silver (SCZ.v) brings hope to the post-Covid19 mining industry

We know Covid19 is a bad thing, however we should also recognize that some of the changes it will bring are likely to be positives. In the case of the mining industry, the infernal virus could do us all a favour by killing off no end of zombie mining companies.

And initial findings point to plenty of juniors about to go byebyes. Take for example Santacruz Silver (SCZ.v), a disaster almost from the word go and woefully mismanaged by a team that has "make exec payroll" as its main corporate vision and mission. On Feb 13th SCZ announced a $3m placement, as it wanted to sell 25m units at 12c. Those units came with a share and a full warrant at 18c, so they Arturo Préstamo and his gang were already in trouser-dropping mode.

We move to Feb 25th, when the company announced the close of a first tranche of 6,117,917 units Notably, 3,517,917 of those units were bought by insiders (let them throw their money away, it's their turn now), which means just 2.6m units went to outsiders. They also said on Feb 25th that the placement would be closed by March 23rd. Cut to today and this:
Vancouver, British Columbia--(Newsfile Corp. - April 9, 2020) - Santacruz Silver Mining Ltd. (TSXV: SCZ) (the "Company" or "Santacruz") reports that, further to its news release dated February 25, 2020, the Company will not be completing any additional tranches of its previously announced non-brokered private placement.
 Oh dear. The plan was to sell 25m units and raise $3.0m in badly needed capital (we can go into this company's car crash financials another day if you feel like it), the result was C$734k in gross proceeds and once the finder's fees and lawyers have taken their slices of the pie, SCZ hasn't even put 600k in the till. Not only that, but SCZ took three NRs and nearly two months to raise $312,000 from the market. 

Covid-19 attacks the weakest and most vulnerable. The difference is that when the weak and vulnerable are not human, it's a morally better decision to let them die.

4/8/20

No posts today

For secret reasons.

4/7/20

Fission Uranium (FCU.to) death rattle

How bad are things over at Fission Uranium? They are borrowing from Rule:
KELOWNA, BC, April 7, 2020 /CNW/ - FISSION URANIUM CORP. ("Fission" or "the Company") is pleased to announce the closing of a US$10 million senior secured credit facility (the "Facility") with Sprott Resource Lending II (Collector) L.P. ("Sprott") subject to the terms and conditions set forth in the credit agreement (the "Credit Agreement"). Continues here
As you only go there when everyone else has refused, the death rattle is loud.  Lend em $10m, get back $14.89m after four years, throw in those free warrants, Rule wins again, Dirty Dev has been forced to drop his trousers for the man whose most admired historical figure is Shylock from the Merchant of Venice. Which in itself is ironic, considering Dev's #MeTooMining sleazeball rep around the fairer sex.

Happy days.

PS: These pages do not jest, Dev is soiling his underwear about his #MeToo past, wondering when his serial abuses of women might catch up on him. Hopefully soon, the toerag deserves little else.

A Flash update...

...has just been sent to subscribers on this warm and sunny day that I cannot go out in and enjoy. I'm sending it from three locations to make sure it gets through (Flash updates have problems sometimes, so please check spam), so apologies if you get annoyed by the multiple landings. Anyway, turning the lights back on.

First Quantum (FM.to) at Cobre Panama

This company has a problem. Cobre Panama has supposedly quarantined all its employees due to a widespread outbreak of Covid19 inside the mine (how convenient, they can keep working), but Panamanian TV was full of images last night of workers sneaking out to go home. Not only that, but two employees have now died fro the virus there.

UPDATE: The deaths have now been confirmed and the mine ops suspended.

The dollar starting to roll over and the miners starting to wake up

The centre of the universe and due to re-trace, USD dropped under the 100 line very quickly this morning. The market has decided it likes the level of liquidity added by the Fed and the cogs are turning again. 

I continued to annoy subscribers of The IKN Weekly last weekend by keeping the whole portfolio on hold and in the deep freeze. Since the initial crash it has been that way, but the last couple of days have brought signs of life back to the mining sector and a likely alteration to house timelines assumptions. That's all a fancy way of saying there are potential trades beginning to show up, ones based on real fundies, rather than TA or a roll of the casino dice.

WE are now entering 1q20 production report time. Unlike the atmosphere of just a few days ago and with gold pushing above U$1,700/oz this morning, any beaten down PM miner that can offer a strong Q1 production number can expect alpha to peers. The game is afoot.




4/6/20

Get well soon, Boris

Rooting for you.


4/5/20

The IKN Weekly, out now




IKN567 has just been sent to subscribers. Don't say I didn't warn you, guys.

Peru Covid-19 new cases chart, to April 5th

Latest data out of Peru's Health authority MINSA this afternoon. Presented with no further comment: