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5/23/20

Now it's serious: Colombia's coffee crop in danger

Word from Colombia is that due to a lack of harvesting personnel, its coffee crop is now in imminent danger. Beans in many zones are now ripened and, if they fall off the coffee trees*, the crop is ruined.


*Bush or shrub if you prefer but they are technically a tree.

5/22/20

Jair Bolsonaro is a murderer and now dead man walking

This is so big, it's knocked the 1,001 Covid-19 deaths in Brazil today and new infection record that puts it at number two in the world as the country's headline story. 

Just released in Brazil tonight, the tape of the infamous cabinet meeting. There are many hot points to consider, but perhaps the hottest is what he said about the man investigating his family to his fellow ministers during the meeting, specifically his sons on alleged corruption and connections to organized crime:
"I tried to change the security people in Rio de Janeiro and I couldn't. This is over. I'm not going to wait until they (expletive meaning) ruin all my family just because I can't change someone in security who has the line the structure requires.

I'm going to change him. If I can't change him, I'll change his boss. If I can't change the boss, I change the minister. Period. We are not here to play around."

This is also the President who's been playing eugenics with his own people. Nice man.


Welcome to the Pleasure Dome

Seriously people, you mining executives are as original as a bag of sticks.

Prior to closing the Private Placement and the proposed transaction with Liberty Gold Corp., Barrian will complete a consolidation on the basis of two (2) pre-consolidation shares for one (1) post-consolidation share (the "Consolidation") and Barrian will change its name to "New Placer Dome Gold Corp.". Concurrent with the name change, the Company will adopt "NGLD" as the new trading symbol.

You were lame before lame was invented. Whole NR here.

Illustrating the insanity of silverbugs

They think the Dow can drop 4,000 points and silver will go up at the same time. I'm not joking, I had a conversation (or what passes for one) with one of these nutbars this morning. He also swore blind that silver stocks have massively outperformed gold stocks this week:



Do not feed the animals. Silver stocks are $10 chips in a flashy casino, not a serious investment option.

The awaited IKN explainer on the Metals Investor Forum (MIF) conference structure...

...will happen on these pages next week. You'll enjoy reading about how many ways Vancouver has devised to separate you from your money.

The Friday OT: REM; It's The End Of The World As We Know It (And I Feel Fine)

Other websites blew their use of THE song too early, this humble corner of cyberspace waits until the circumstances are prime. Best lyric is under the second chorus on, the backing chant telling us that "It's time I had some time alone." Must have sounded so cute in 1987.




Dedicated to long-term mailer R, who is a nice person. Youtube here.

Ecuador is tragedy heaped on tragedy

This story is sad, but it's better more people know its sadness. One of the Councillors (city representatives) in the coastal city of Manta, who also happens to be a Doctor, went on local TV shows and live cameras to say this to her fellow citizens two months ago in mid-March:
"The coronavirus isn't fatal, there's no need to wear masks for protection against it. It's not necessary. You are wasting your money. It's better to buy oranges, lemons, maracuyas and fruits with Vitamin C to boost you immunological system."

This same lady died this week, in Manta, in a hospital, from Covid-19. She was well-known and liked by locals all here life, one wonders how many people she took with here thanks to her final piece of public advice.



A Flash update has just been sent to subscribers...

...late this Thursday evening, well after the closing bell. Some thoughts on a stock and a preview of this weekend's edition.

5/21/20

Brazil is infecting a continent (from IKN573)

Here below is the main regional risk Covid-19 piece from The IKN Weekly, IKN573, out last Sunday evening. 

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Brazil is your new world top story
This may be the last update on Brazil and Covid-19 on these pages, our sadly correct warnings over the last few weeks of coverage are now coming to pass. Brazil and Covid-19 has moved from a national to a regional and now to the Top Table of issues, it is about to become your Covid Porn of the week, the country they trot out on your TV screens to remind you that whatever else you might think, it could be worse. The basics of out of Brazil last week as it stepped into its next circle of Danté’s hell include the death and infection rates Friday with 15,305 new cases and 824 deaths. Then Saturday at 14,919 confirmed new cases and 816 deaths (8).

The problems now include the way Brazil’s Health minister abruptly resigned on Friday after just three weeks. Nelson Teich had replaced the Health Minister who openly opposed Bolsonaro and in his three weeks, toed the Bolsonaro party line by saying Social Distancing was not needed. Then apparently he had a Road to Damascus moment and walked, citing differences of opinion with his ex-boss. They also include the legal battle to stop a recording of a tempestuous cabinet meeting from getting to the public light, as it is widely said to include enough negatives about President Bolsonaro to cause his resignation. In fact Bolsonaro is now only a matter of time, not if but when he resigns or is removed from office and I for one hope it’s later, rather than sooner. Ironically, he could cause the type of political vacuum that leaves the military in charge and he’d quite like that, so something after the main surge of Covid-19 would be wiser.

Brazil’s Chancellor in the mainly Lula years of 2001 to 2010, Celso Amorim, put not just Bolsonaro but his own country to the sword in this interview for Le Monde Diplomatique (9). He also predicts dire consequences not just for Brazil but for the region due to the pandemic’s firm hold there. LatAm political watchers will click through and enjoy, though the title “It’s very difficult to think of effective regional co-operation without Brazil being at least neutral” sums up the contents nicely.

We are seeing evidence of this already. Paraguay’s leaders (10) are concerned that people now migrating back from Brazil will infect the nation further (they claim a low infection and death rate to date, but “unofficials” are now mounting up and we’re seeing the same type of actuary table anomaly as in virtually every country). In one incident, a busload of emergency evacuees from Brazil were attacked by a local town once inside Paraguay, who did not want them staying the night on their ways home. Regarding Argentina, which has played one of the region’s hardest lockdowns since inception and is now clamping down hard on illegal crossings around the Triple Frontier zone. Uruguay, with a more reliable low death toll to date, quietly beefed up its Brazilian frontier patrols 10 days ago (11). This is not going away and it is a serious regional problem. For example, as well as Uruguay has coped, it will be infected by Brazil the moment it starts doing more regular trade with its neighbour and in fact, its long and porous border means we probable won’t even have to wait for the re-start of official trade. Covid-19 in South America should from this moment be considered an endemic problem and that is due to Brazil.

We know this Covid-19 virus has the insidious habit of attacking the weakest links in our society, how ironic that the weakest link in all of South America turned out to be its biggest and strongest country that had recently elected its biggest and strongest leader. I’ll leave you with some verse.

                    Ozymandias
              Percy Bysshe Shelley

I met a traveller from an antique land
Who said: Two vast and trunkless legs of stone
Stand in the desert. Near them, on the sand,
Half sunk, a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them and the heart that fed:
And on the pedestal these words appear:
'My name is Ozymandias, king of kings:
Look on my works, ye Mighty, and despair!'
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare
The lone and level sands stretch far away.

kai & mark talk mining episode five

Can be found on this Twitter link here.

Or the Youtube link which is here.

Regulus Resources (REG.v): A site visit to AntaKori

Regulus Resources (REG.v) has just published this, the latest video in its series on its flagship AntaKori project. Kevin Heather is your host for seven very informative minutes.



Well worth your time. Youtube here.

Mining PRs and the Ottotrans™, Part 108


Another episode in our occasional series that attempts to transform the language used in mining company news releases into English. Today's example comes from Revelo Resources (RVL.v) and today, we are able to transform 1,252 words into just six:


This is what they said:
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2020) - Revelo Resources Corp. (TSXV: RVL) ("Revelo" or the "Company") reports it has concluded a series of key milestones that set the stage for the company's next phase of development. These actions included capital restructuring, repayment of third-party debt, conversion of management debt and completion of beneficial transactions (as indicated in the company's news release of February 6, 2020). As a result, Revelo approaches 2020/2021 with an improved capital structure and balance sheet, a streamlined and exceptional portfolio of gold and copper exploration assets in Chile and a firm commitment to execute our strategy to fulfill the company's vision.
SUMMARY OF REVELO'S ACHIEVEMENTS IN 2020:*
  • Sold its generative royalty portfolio totaling 20 NSR royalties for approximately $2.11 million.
  • Sold its equity interest in a listed company for total net proceeds of about $0.88 million.
  • Repaid all third-party debt totaling approximately $2.54 million.
  • Significantly reduced overhead costs over the last 12-18 months.
  • Paid the 2020 annual property maintenance fees on 15 properties in Chile totaling about $480,000.
  • Entered into a binding agreement with West Pacific Ventures for the sale of eight of Revelo's porphyry copper projects in order to create a new copper-focused exploration company in Chile. This transaction will result in Revelo owning 19.9% of the new company as well as receiving potential future milestone payments.
  • Completed a 10-for-1 rollback of the stock.
  • Obtained shareholder approval for the conversion of debt owed to the Chairman, CEO and officers of the company.
  • Chairman wrote off $513,000 in management fees owed and converted the balance of $242,000 into 1,613,334 shares.
  • Converted $2.36 million of cash loans from the Chairman into 15,729,348 million shares.
* See news releases dated January 20, February 6, March 20, March 26, April 21, April 27, May 6, and May 19, 2020.
LOOKING AHEAD: 18 MONTHS
These achievements leave the company in a much stronger position to carry out its strategy and plans for the next 18 months.
Revelo will continue to evaluate all options to successfully explore its portfolio. Exploration work will be done efficiently, either by Revelo (in our gold portfolio) or with our partners (in our copper portfolio). We will exercise considerable influence on the technical programs to ensure our exploration concepts are tested successfully. Despite having negotiated eight joint ventures and having about $20 million spent by third parties over the last six years, many of our projects either remain untested or have specific targets that remain untested.
With 38.6 million shares outstanding and a current market capitalization of about $4.0 million, the Company and its shareholders have significant leverage to exploration success within Revelo's portfolio. Our plans for the next 18 months include:
  • Raising capital to fund the exploration of Revelo's gold projects with an initial focus on Victoria Sur.
  • Assessing capital markets for potential business combinations.
  • Assisting our copper equity spin-outs on getting capital deployed quickly and efficiently to test exploration concepts.
  • Continuing to conduct general reconnaissance to identify and acquire additional precious metal projects in Chile.
REVELO'S ASSETS AS OF MAY 2020:
Gold-Silver Portfolio - Shareholders will have direct interest in Revelo's gold-silver portfolio that comprises four projects totalling 38,500 hectares, with the key projects being Victoria Sur and the Las Pampas / Loro district:
  • The Victoria Sur project is located along the Domeyko Mineral Belt, one of the world's most productive mineral belts, where several gold and silver mines have operated in the past. Previous exploration at Victoria Sur, including drilling, identified a porphyry gold style target with significant gold intercepts in trenches and drill holes, and higher-grade gold-silver intercepts in high-sulphidation epithermal structures. Several other targets on the property require follow up, including an extensive gold-bearing "lithocap".
  • The Las Pampas and Loro projects comprise a strategic landholding within the Paleocene Mineral Belt, located south and southwest of the multi-million ounce El Peñon district (Yamana Gold). Limited "proof-of-concept" historic drilling at both projects has identified low-sulphidation epithermal "bonanza" veins with extensive geochemical and geophysical anomalies that require further exploration follow-up.
Copper Portfolio - Shareholders will additionally have significant leverage to copper through joint ventures on its three wholly-owned projects totalling more than 30,000 hectares, together with equity spin-outs that encompass a further 65,000 hectares of prospective ground:
  • Joint venture with Sociedad Quimica Y Minera de Chile S.A. (SQM) covering the Calvario & Mirador copper porphyry projects (14,600 hectares) where SQM can earn up to 80% by spending US$13 million and paying Revelo $5.2 million in cash payments.
  • 100% interest in the Montezuma copper project (16,000 hectares) strategically located between Codelco's Chuquicamata and Antofagasta Mineral's Esperanza mines, where the Company will continue to look for a JV Partner.
  • 15% equity holding in Atacama Copper Exploration Limited (see news release dated July 23, 2019) exploring 3 copper projects (7,000 hectares) in Chile, with Revelo having a seat on a technical committee.
  • 19.9% equity holding in a copper spin-out as a result of the recently announced agreement with West Pacific Ventures, which will be exploring 8 copper projects in Chile (58,000 hectares), and in which Revelo will have a seat on the board of directors as well as having significant input into the technical program (see news release dated May 19, 2020).
Qualified Person
Demetrius Pohl, PhD., Certified Professional Geoscientist (CPG), an independent geological consultant to Revelo, is the Company's Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosures for Mineral Projects of the Canadian Securities Administrators and has verified the data disclosed and approved the written disclosure of the technical information contained in this news release.
ABOUT REVELO
Revelo is a Canadian company listed on the TSX Venture Exchange (TSX-V: RVL). Revelo has interests in an outstanding portfolio of projects prospective for gold and copper located along proven mineral belts in Chile, one of the world's top mining jurisdictions. The Company's vision is to reward shareholders with wealth-generating mineral discoveries along Chile's prime mineral belts, through leveraged and more efficient capital deployment, exploration, discovery and monetization. For more information, please visit Revelo's website here www.reveloresources.com.
The reader is cautioned that when reference to an historic or an existing mining district is made in the above descriptions, this is to help place the properties into geologic context and is for reference purposes only. There is no evidence to date that similar mineral resources occur on Revelo's properties.
ON BEHALF OF THE BOARD
Michael Winn | Chairman

INVESTOR CONTACT
Timothy J Beale | President & CEO
T: +1 604 687-5544 |
info@reveloresources.com | www.reveloresources.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENT
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Revelo expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Revelo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56272

And this is what it means:

We are running a placement soon.

5/20/20

Fission (FCU.to) has news for us

Wow, surprise! A resignation!

KELOWNA, BC, May 20, 2020 /CNW/ - FISSION URANIUM CORP. ("Fission" or "the Company") has announced today that Paul Charlish has left the Company and Ryan Cheung has accepted the position of Interim Chief Financial Officer and Corporate Secretary of the Company effective May 20, 2020. The company thanks Mr. Charlish for his service and wishes him the best in his future endeavours.


Why does every other NR out of Dev's world seem to include news of a director resigning? All will be revealed very soon.

Y'know, I'm beginning to suspect Vizsla Resources (VZLA.v) may have a problem

You would have thought it could hold the 50c line.


Another Eric Coffin scam stock stalls

Eric must have front run them and taken his profits.


Psst! Dev!

Everything okay, Dev? You seem very quiet, Dev.

David Forest of Casey Research hits a new career low

You know when a newsletter analyst has turned full corrupt; They pump rare earth juniors to the people they scam.

That's Dave Forest over at International Speculator today all right, all the dumb arguments and none of the real issues that limit widespread REE mining. And of course he lays it on thick with the American Protectionist nonsense they use every single time to pump this worthless sub-sector of lies, bribes and junk. Yes indeed, Dave Forest has no problem using dog whistles in order to remove money from your pocket and stuff it into his own. Take a shower Dave, you stink.

David Forest must be praying the Covid-19 lockdown continues forever, that way he doesn't have to feel the shame of showing his face in public. REE plays! And I thought you couldn't get any lower.

Reminder: Do not buy bad gold mining companies

Must be terrible for some newbies. You identified gold as a bull market post-crash, identified gold mining companies as the leverage to gold, then when you arrive in your brand new sector you hand your money over to somebody who invests in the crappy ones and snatch defeat from the jaws of victory.




5/19/20

The Rio2 Ltd (RIO.v) anti-naked short campaign: It looks like it's working

If this stock makes it to the mid-60s by the end of the week, it'll be case closed.


April 30th chosen to start this chart, as that was the day RIO.v announced the initiative.

Vizsla Resources (VZLA.v) just can't seem to rally with the rest of the silver stocks

It tried and failed to rally again today and finished just one tiny cent below 55c, yet again. I wonder why that is, Eric Coffin? I wonder why that is, Gwen Preston? I wonder why that is, Scott Gibson?


Well in fact that's a bit of a lie, I don't wonder at all. Decided on the financing price yet? Will it be a half or full warrant this time? Got your "consultancy" slice sorted, Eric?

A few names

One person calls another person President Tweety and another person calls a person a paedophile and another person calls a person morbidly obese and another person calls a person a sick puppy and the USA passes 90,000 deaths on its way to the big round number, early June latest.

We are watching The United States of America and it's all quite shameful.

K&MTM: Here's this week's subject

Happening Thursday.




If you'd like to leave a question, go here and stick it under the tweet.

The difference between the IKN blog and The IKN Weekly

This is what subscribers read about Excellon (EXN.to) on Sunday evening:

Excellon Resources (EXN.to) also getting back to work
The trials and tribulations at Excellon Resources (EXN.to) have been quite a thing recently but they do seem to have at least kept their mine open, after all. After workers threatened a second protest and roadblock on Wednesday (19) as they still had not been paid by the company according to the agreement of the previous week, management and unions sat down and in light of the improving silver price worked out a deal. Now 20% of employees will be cut, but the mine stays open (20). Along with using complaints about the high electricity price they pay as an excuse to put the mine on care & maintenance, this was probably the whole strategy to begin with.

Time will tell whether cutting 20% of the La Platosa workforce makes the mine and the company profitable and we stress, its issues go a lot deeper. However, traders among you may want to put it on your radar next week. No position and not taking one, here below is what EXN has done against the silver miner’s ETF (SIL) this year.

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You may have noticed EXN did this today. Readers of The IKN Weekly knew why from the bell:


The Friday OT on a Wedne...oops Tuesday: Tony McGuinness recreates the BBC Radio 1 Essential Mix 2011

Here are the facts:
  • I was sent this today
  • It was published on Youtube yesterday May 18th
  • It is a re-do of the 2011 BBC Radio 1 Essential Mix. 
  • It's two hours long
  • I've been listening to it all morning while working
  • It's just finished and the room suddenly feels empty



So, putting it on again now. If you too are in need of magical background music for your afternoon, look no further. Youtube here.

Farewell, Rob McEwen

The "Chief Owner" of MUX has made himself a small fortune by starting with a large fortune and investing it in his own abilities:
  • The crazy decision to buy Black Fox
  • Calling Hochschild "the JV partners from Hell"
  • Admitting to working relationships with Mexico drug cartels
  • The eye-wateringly high G&A at MUX, which must have funded so many nice things
  • Los Azules, which is not an asset and never will be. It's cash-draining liability worth nothing

And now, Gold Bar. The mine that was supposed to be up and running years ago with a capex bill of $50m has just seen an $83.8m write down because suddenly there's not as much gold there as they thought. What a thing.

The cold reality behind another "Canadian Legend" is revealed.

Collin Kettel's wealth creation bias

Just a reminder that Collin Kettell is very good at making himself rich.



And very bad at running mining companies.

5/18/20

Gold's astonishing price performance today

With an hour and half to go in today's market, this humble corner of cyberspace cannot bite its tongue any longer:



If you had told me at any time in the last ten years that the Dow could move up over 900 points in one day and gold only loses half a percentage point in USD terms at the same time, I would have called you crazy. If today Monday's market action cannot convince you to own gold, nothing will. If gold hasn't impressed you today, do yourself a favour and stop reading this blog because if not, you're wasting your own time*.

UPDATE: Make that a thousand.


*Probably true even if you were impressed by gold today.

The Rio2 Ltd (RIO.v) (RIOFF) naked short is getting squeezed today

With Canada markets closed and the US OTC open, the naked shorts that have been suppressing the stock price of Rio2 Ltd (RIO.v) (RIOFF) from Canada and via the US market cannot do their thing this morning. The result is this:



The cat is out the bag. When volume returns tomorrow via the Canadian stock, we will get to witness the start of poverty for these slimeballs.

The top three most visited IKN posts this week are...

....in reverse order:
.

Second Place: "Paid pumper Eric Coffin is scamming them with Northern Shield (NRN.v) again". Surprsingly popular post, and the feedback mails were the best. 

First Place: "More on Gwen Preston's deceit" Wow, we have hit a nerve. More to come on this subject.

The IKN Weekly, out now




IKN573 has just been sent to subscribers. The usual dirge, piffle and nonsense.

5/17/20

Torex Gold (TXG)

This does not look good. The fourth ex-worker at the TXG Media Luna mine fired after the 2017/2018 strike to be assassinated. His family state that TXG is to blame and the company is paying protection money to the armed local narco gang, who carried out the murder and the other dirty deeds.