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The top three most visited IKN posts this week are... reverse order:

Third Place: "Peru and a stark example of "Covid-19 Lockdown vs. Empty Stomach"". Your humble scribe has been watching a second exodus story take shape out of Lima this weekend, with a group of 300 people determined to walk the 850k to the San Martín region in the North, on the other side of the Cordillera.

Second Place: "Hey Pamps, that is NOT a valid formation on Centerra". A silly joke post that got a ton of hits because Pamps linked to it (and the guy has a big Twitter following).

First Place: "Fission Uranium ( internal ethics inquiry news". For the second time in two weeks a FCU post makes the top spot. Ahhh Dev, you are not looking good. Then again, you never did.

That's a very good question

“I see a bunch of healthy Americans out here who don’t seem to be afraid of a virus,” Owen Shroyer, the InfoWars personality who organized the “You Can’t Close America” protest, told the crowd, according to footage of the protest live streamed on Periscope by an InfoWars supporter. “What are they going to do if we have events like this all over the country, with thousands of people showing up, and the virus doesn’t spread like they told us?” Shroyer asked.

And I'd be all in favour of letting him find out, if it weren't for the others he'd infect afterward.


The Friday OT: Hilary Hahn (violin) and Leonard Slatkin (baton); Beethoven's Concerto for Violin and Orchestra

Improve fifty of your minutes this weekend by listening to this:

Youtube here.

A corruption story brewing between Chile and Ecuador over the Llurimagua copper project

That's the one in Ecuador which Chile's State run company Coldelco is JVing with Ecuador's Enami. Seems as if the Chilean side of the deal was more than a little dirty, Chile's Periodismo de Investigación has the exclusive here. No small deal either, as in the light of this report President Moreno of Ecuador has today put the deal on ice.

Wheaton Stuff N Things (WPM) fixing its cobalt hole with your money

The news that Wheaton Stuff N Things (WPM) will be placing U$300m of shares ATM in the next few days and weeks reminded your author of the U$390m Randy Smallwood and friends paid for that Voisey's Bay cobalt stream back in 2018. Because yeah, what's left of that car crash of a deal is worth about $90m (definitely nowhere near the $227m they claim as current carry, that's way too much financial violin).

Bottom line, WPM is raising this cash and putting massive drag on price upside because Randy thought he knew more about the market for cobalt than Vale. Angels fear to tread, Randy.

Fission Uranium ( internal ethics inquiry news

As the internal ethics inquiry at Fission Uranium ( nears its climax (oops! Was that a pun, Dev?) IKN marks your card as to the effectiveness of the process. Ultimately it will be straightforward to see if the committee has done a thorough job. If they have, not only will Dev be fired but the evidence will be handed over to the RMCP, which should then result in the immediate arrest of Dirty Dev. Any other result is a cover-up.

We await with bated breath. Shouldn't be long now, couple of weeks to go.

PS: John Quakes is a liar.

Will the doddering idiot Eric Sprott continue to propagate his dangerous Covid-19 lies...

...again today in his weekly podcast? Or will he finally do the right thing and apologize, as he obviously had not read all the literature. Not long before we find out.

By the way, if you are dumb enough to agree with him why are you even here? This blog regularly uses words of four and even five syllables, you're not going to like it much.

PS: Thank you for sending in your links to Try The Lancet next time.

UPDATE: Still no apology from Eric Sprott. Shame on you, Eric. Shame on you.

PPS: Your band of loyal warriors now sending in mails, Eric. And yes, they are every bit as dumb as you.

On the subject of desperate: Sell side analysts stare pinkslips in the face

Take for example Jackie Przybylowski of BMO, who heads up the corporate earnings preview think piece dated Apr 16th with "We Should Still Pay Attention to Q1 Reporting"*:

The reason why we must take Q1 seriously? If we don't, we won't need analysts.

*Style note: Capitalization in this title is unnecessary, i.e. Jackie is shouting at you.

Behind the desperate pump on Vizla Resources (VZLA.v)

The Vancouver scumbag paid promo brigade is out in force on Vizla Resources (VZLA.v), with Casey Research's Dave Forrest the latest to take the 30 pieces of silver (pun intended). He joins all the usual suspects as they double-team the on the pumps and try to get the share price up as quickly as possible. What they know (and have tried to sweep under the table in missives to their unsuspecting sheep) is that VZLA's payment schedule is heavy and the work timeline is tight, so if they don't raise more money soon they are royally farked. Which is where you come in, retail sap. These newsletter dudes are getting sweetheart deals on every penny they can get on the upcoming placement.

And yes, to pre-empt the conversation slightly I know the parasites will deny it and call me a liar. All the same, you have been warned.

UPDATE Friday morning. Thanks for the communications :-)

I realize it's not easy to believe me, but it's not a problem and not your fault. When you have one voice with  some knowledge of the scams pulled by newsletter writers in the Vancouver mining scene telling you about the situation, then 25 people saying "No No No That Is Not True!" (so that the status quo may remain) it's perfectly normal to side with the 25 opinions over the single dissenter. Do you honestly think the only way these two-faced slimeballs make money is via subscription fees? There's no point in telling these people to go fuck themselves because they did that years ago when they joined the corrupt little clique.

Breaking: No further need for gold

Great news from the overnight markets! Because China is about to cut its base rates again, the whole Covid-19 pandemic and economic crisis is now fixed and there is no longer any need to hold gold.

The problem with this post? So many people cannot spot irony and take everything literally which means the author needs to add some dumbass sentence on the end, like this one.

The Crestview Exploration (CRS.cse) pump moves to dump phase

The way they always do. From here:

You were warned.


Wesdome 1q20 production

NR here, a production and sales chart here:

 And though a got a little fuzzy in the transfer from XLS to blog, the revenues chart is well worth an eyeball as well. 

Decent job, making good money and confirmed annual guidance, which is no small matter in these Covidian Days. Plenty more on these numbers and those of a couple of other interesting companies that reported this week on Sunday, subbers.

Peru and a stark example of "Covid-19 Lockdown vs. Empty Stomach"

After 30 days of lockdown in Peru, many people in the poor areas of Lima have run out of food and money. For many of them who moved to the capital in order to make money to send back to their extended families in the provinces, the solution is to go back to the family homes in those villages, small towns and cities. However, as there's no transport you get to travel on Shanks's Pony and here's the photo from this news report today in Peru's newspaper of record, El Comercio:

That is no ordinary road you are looking at, either. That's km48 of the Carretera Central (CC), the one that run East out of Lima and straight up the Andes peaking at 4,818 metres (15,706 feet) above sea level. The photo also hints at the second problem; as the migrants walked up the CC they naturally began to group together and by the time they were stopped by police, just a couple of km further up, they were also tested for Covid-19 and of the 1,000 tests performed, 40 are positive. They infected themselves by grouping up as they tried to trek one hell of difficult road in order to get back to their family seats because they have nothing left in Lima. This fkn virus has a trick of heaping tragedy on misery.

This humble corner of cyberspace understands that many places are suffering in their own way and the stress of losing a job and going into debt in order to eat is no fun at all. However, for some even that option is a dream. Welcome to Covid-19 chapter two, developing nations style.

Good to know Glen Watson of Crestview Exploration is an IKN reader

Before IKN:

After IKN:

Yes indeed, 24 hours after we point out the typo that's been on the scamster's biog for three years, it's gone. Hi Glen!

This does not change its undoubted status as an unholy scam, of course.

PS: One of the fun things about the blog is to see things like this, an April 15th report on this Crestview scam which is useful because the reporter quotes CEO Watson. However and hilariously, it also elicits the views of "market experts" who also happen to be part of the whole problem, rather than the solution. Every single one of the junior mining commentariat asked to comment is a pay-to-play promoter of stocks, i.e. they take money from the companies and then tell you to buy the stock. Tommy Humphreys (natch), Mickey Fulp, Caesar's Report, they are all in the same scuzzy game. And the irony is, if IKN hadn't pointed out the obvious on April 9th covering every single point they made, they wouldn't have had an opinion between them. Ladies and gents, your mining intellectual hierarchy.


A short update on Ecuador's humanitarian disaster

It's not that things in Guayaquil are any better, what with the mayor now saying that "there's no space for the living or the dead" and estimates of 3,500 deaths in that city of 2.7m people alone (when its government stubbornly refuses to admit the truth in its stats, admitting to date only a tiny fraction), it's simply that the unfolding drama is being crushed under the weight of US newsflow. Remember those images out of Guayaquil last week? Authorities now estimate its local outbreak will peak in the next couple of days, i.e. since then it's got worse.

Also, this humble corner's fears for Brazil are now being realized, we are sad to report. However, we finish on a brighter note as up to now at least, all other Southern Cone countries are doing okay.

New Pacific (NUAG.v): Insiders dumped before the bad PEA news

What else do you expect when two-faced, self-serving, double dealing John Doody gets involved?

This PEA, out yesterday, is an absolute joke for a market cap this size and it was announced just after all that selling stopped. What a shocker, eh? This is of course the same company up to its neck in bribery and corruption charges with the Evo Morales government in Bolivia. Burn them with fire.

UPDATE post open: Trend is not friend.

Have a good look at that, see how the price dumped around two hours before the close yesterday, but the seller just kept on liquidating all they could at $4.90. If you're telling me the select few at the centre of this odorous promo weren't tipped off and didn't take advantage, I have a bridge to sell you. Easy payment terms, low initial and easy quotas.

Mining PRs and the Ottotrans™, Part 107

It's time for another attempt at translating the balderdash and nonsense uttered in mining NRs, with this edition zooming in on Executive Chair's Bebek's comments regarding the Auryn Resources (AUG.v) for Homestake Ridge, out this morning.

This is what he said:
"This is an early look into the Homestake Ridge high-grade gold project's current value, which demonstrates a highly profitable deposit with a low capex in an established mining jurisdiction, and importantly, it is open for considerable expansion.
"We took a conservative approach in our study to see the project's resilience at $1,350 gold, which generated a 23.6% IRR, however, at $1,620 gold the project generates an IRR of 32% and an NPV of over US$173 million.
"The Homestake Ridge gold project is a valuable part of our portfolio, which also includes multiple tier-one exploration opportunities, such as Sombrero and Curibaya in southern Peru and Committee Bay in northern Canada. We are very much looking forward to advancing our portfolio as we continue to see improving metal prices."
And this is what it means:

"Yes, it's shit. We know it, too."

Onward To Victory, Collin!

Collin Kettell demonstrating his true worth as a CEO:

This Palisade failed pump has cost him a crapload of money, something he and his father should get used to if they think he can actually do the job.

New Gold (NGD) 1q20 production numbers

Interesting footnotes in the NR on the way the company is moving forward in this viral world. Also, the above has the AuEq copper part for New Afton and with the movements in both gold and copper, that ratio isn't a great help. The real dollar sales number is the only thing that counts.

We weren't expecting miracles in Q1, the darned virus still leads all other catalysts, a soft-ish quarter that will not influence the stock price much and just about warrants "in line".


Hey Pamps, that is NOT a valid formation on Centerra

It's just a cock'n'balls.


Have you no shame, sir?

My thanks to reader CM for the heads-up.

In which we consider the combined effects of the Crestview Exploration (CRS.cse) scam, toerag CEOs and anatidae

"If it looks like a duck, and quacks like a duck, we have
 at least to consider the possibility that we have a small 
aquatic bird of the family anatidae on our hands."
Douglas Adams

Further to the post of last week on the disgusting pump job perpetrated around Crestview Exploration (CRS.cse), as the company today put out another pumpy looking NR on its activities (picking up a rathole mine property a mile away from their main gig) I decided to take a closer look at the company. Ladies and gents, your CEO:

Gotta love the experienced communications messenger who cannot spell his own corporate title correctly. Then just leaves it there on the website for a couple of years. However, one of the classic early signals of dubious exploreco activity is when the officer biographies are deliberately vague and lacking in details. No names of previous companies, no number of years of experience, things like that. Always one that should catch your eye, so when you check into the background of Glen Watson... suddenly all makes sense. Smallcappower and Ubika Research are pay-to-play pumphouses that specialize in accepting five figure cheques from junior mining companies and then extolling the virtues of their worthless paper and scamming retail sheep. That is the MO and the mentality of the person in charge of Crestview Exploration, a company that also uses nefarious Covid-19 scare tactics to promote itself and then, when the regulators come calling, claim absolute innocence. Glen Watson should be in jail, not in charge of a public traded company, the deceitful, two-faced toerag.

Barrick (GOLD) has a new strategy

The news from Barrick (GOLD) yesterday that they are earning in to the Golden Minerals El Quevar project in Argentina, added to the news today on its strategic investor position in Precipitate Gold in Dom Rep, is the first manifestation of a new internal corporate strategy. On the financial timing, it makes sense for a Tier 1 with a buoyant share price to move on distressed assets, but this time the method is different. The Elephant Killer has handed the decision making process down to the GOLD country manager level and in effect, the plan is covered by a simple conversation:
Elephant Killer: Got a question for you
Country Manager: Very well, your Royal Highness.
Elephant Killer: If you could choose one junior that's working in your country to make a strategic investment in, which would it be? You choose and we will do the buying.
Country Manager: By your command, your Royal Highness.

This is a smart tactic. It should also get you thinking about which junior in which country is next.


Quebec au boulot tabarnack!

As from Wednesday April 15th, mining companies join the list of essential services and go back to work. No fake coughs into the poutine, guys.

Giga Metals (GIGA.v): Scumbags hire scumbag to pump scam stock, hilarity ensues

Back in August last year, Giga Metals (GIGA.v) hired a nefarious promoter of scam junk junior stocks to pump their paper to the unwary. The IR deal was about as transparent as mud, so GIGA was obliged to add details to the gig last December:

Giga Metals Adds Disclosure Regarding Corporate Awareness Campaign

Vancouver, British Columbia--(Newsfile Corp. - December 3, 2019) - Further to the news release dated August 20, 2019 announcing that Phenom Ventures LLC, based in Miami Beach, Florida, had been retained to conduct a corporate awareness campaign, Giga Metals Corp. wishes to provide further disclosure.
The 100,000 options disclosed in the August 20 release are in favor of Phenom Ventures and have vesting provisions whereby 25% vest each quarter and will be 100% vested by August 20, 2020.
Eric Muschinski is 100% owner of Phenom Ventures. Mr. Muschinski is an entrepreneur and digital marketing expert who has been retained by Giga Metals Corp. to increase public awareness of the Company and its business through digital marketing. The cost is U.S. $150,000 for the first six months and $4,500 per month thereafter. Giga Metals and Phenom Ventures are independent entities at arm's length to each other. Either party can terminate the relationship with 30 days' notice.
On behalf of the Board of Directors,
"Mark Jarvis"

Tel - 604 681 2300

It so happens that Eric Muschinski is the joker behind the Gold Investment Letter, a two-faced pay-to-play pumpjob that has been behind some of the nastier P+Ds in recent times, such as Garibaldi (GGI.v). So bad news for Eric this morning, then:

Giga Metals Suspends Corporate Awareness Campaign

Vancouver, British Columbia--(Newsfile Corp. - April 9, 2020) - Giga Metals Corp. (TSXV: GIGA) announced today that it has suspended its corporate awareness campaign announced on August 20, 2019 and December 3, 2019.
On behalf of the Board of Directors,
"Mark Jarvis"

Mark Jarvis, CEO

Wonder why?

Parsing the Silvercrest (SILV) placement NR

Let us check on what is similar in today's announcement from Eric Fier and Company to the aborted March 11th bought deal with "heads I win tails you lose" NBF . And also what is different.
VANCOUVER, BC – April 13, 2020 - SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce a non‑brokered private placement...
Aha! Non-brokered. Eric flips the bird to them all
...of 10,000,000 common shares of the Company at a price of C$7.50 per share...
 The bought deal was priced at C$8.10, so Eric's eating it a bit. SIL closed at C$7.70 on the TSX last week, for what that's worth.
...for gross proceeds of C$75 million (the “Private Placement”). 
 The same amount as March 11th. He likes that number.
The common shares issued under the Private Placement will be purchased by accredited or institutional investors. SilverCrest will pay a cash finder’s fee of 3% on certain placements in connection...
They'd agreed to pay the bot deal brokers 5% commish, so this is better.
...with subscriptions from certain subscribers introduced by finder’s at arm’s length to the Company.  The Company is reserving the right to increase the Private Placement to issue a total of up to 13,333,334 common shares at C$7.50 per share to raise a total of up to C$100 million.
Whereas this last part is weird, Eric, if you announce a $75m non-brokered and casually mention at the bottom you're willing to go to $100m, it's not a $75m placement. It's 100.

Anyway, after the well-documented falling out between SIL and NBF last month there are going to be a lot of eyeballs on this deal. The Canadian brokerages are slowly but surely going the way of the dodo, this might accelerate the process a little.

The top three most visited IKN posts this week are... reverse order:

Third Place: "IKN welcomes the Eric Sprott Covid-19 Truther Brigade". It is quite pleasant to note this is the only place where that virus's name appears in the top three. Nothing else about this sordid tale of recklesslies and bullshit is, however.

Second Place: "The disgusting Crestview Exploration (CRS.cse) pump: Would the real James Campbell please stand up?". The supposed "James Campbell"? Look not further than a company insider, and while you're at it look how insistent Anon is on the sell.

First Place: "Fission Uranium ( death rattle". It won the hit count by a nautical mile. And ohhh Dev, the mails I've received. You wouldn't believ...well come to think of it, you would. Anyway, keep tuning in now, yeah?

The IKN Weekly, out now

IKN568 has just been sent to subscribers. We even use it to talk about mining this week, too. Refreshing.


Wishing you all a pleasant Easter Sunday

With the re-birth of Christ (be it real or symbolic, you decide) and the way in which people all over the planet are fighting the good fight against the virus, it is an excellent moment to meditate on one of our most basic tenets, that of the Sanctity of Life. Here's the quote from George Carlin:
It’s one of these things we tell ourselves so we'll feel noble. Life is sacred. Makes you feel noble. Well let me ask you this: if everything that ever lived is dead, and everything alive is gonna die, where does the sacred part come in? I'm having trouble with that. ‘Cuz, I mean, even with all this stuff we preach about the sanctity of life, we don't practice it. We don't practice it. Look at what we'd kill: Mosquitos and flies. ‘Cuz they're pests. Lions and tigers. ‘Cuz it's fun! Chickens and pigs. ‘Cuz we're hungry. Pheasants and quails. ‘Cuz it's fun. And we're hungry. And people. We kill people… ‘Cuz they're pests. And it's fun!

And you might have noticed something else. The sanctity of life doesn't seem to apply to cancer cells, does it? You rarely see a bumper sticker that says ‘Save the tumors.'. Or ‘I brake for advanced melanoma.'. No, viruses, mold, mildew, maggots, fungus, weeds, E. Coli bacteria, the crabs. Nothing sacred about those things. So at best the sanctity of life is kind of a selective thing. We get to choose which forms of life we feel are sacred, and we get to kill the rest. Pretty neat deal, huh? You know how we got it? We made the whole f___ing thing up!

Testing is the new battlefront

There are Covid-19 numbers for Peru in April, from this El Comercio report. The red is the number of confirmed cases, the light blue the number of tests carried out:

It looks worse, but in fact this is a better sight to see. This means Peru has enough kits on hand to begin contract tracing and has started to do so, which isn't surprising. As a country government its response has been swift and correct from the word go, its Covid-19 Task Force, led by the President and several health and economy experts, understands the science and is on top of all the latest news worldwide which allows it to make smarter decisions. They know that testing isn't just important now, but is vital to the recovery prospects of developing nations.