start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

6/6/20

Debate going well up there, guys?

A: Hello, Mr. Minority Person
B: Hello, Mr. Caucasian-Looking Male, how are you?
A: Very well today, thanks. And you?
B: Doing okay, thanks for asking.
A: Good. I understand you have grievances about the way society treats you.
B: Yes, I do.
A: I realize I have not paid attention up to now, but that's something I'd like to change. Please, tell me your problems.
B: Thank you for listening. There is systemic racism across the USA.
A: I saw the George Floyd video, it looked like an isolated incident involving a few bad apples to me.
B: No sir, I disagree. There is systemic racism across the USA.
A: Well I find that claim rather difficult to believe. It also paints a lot of good people with the same brush, which is rather unfair.
B: Perhaps, but the real injustice is the systemic racism across the USA.
A: You don't seem to want to debate, sir. Repeating the same point is hardly going to help now, is it?

It's the usual roaring silence from the mining industry on race (rpt3)


It comes as no surprise to this desk to note that, to date, we have not had a single word of support from the mining industry for the George Floyd protests in The USA and the world in general. Not a single company has issued a message of support, not a single captain of this white male dominated industry has stepped up to be counted. And it really is "as usual", this is after all the same industry that treated local communities like dirt for centuries, it's the one that was forced to accept women onto their boards, now it's setting up to be the one that will wait until obliged by law to do something about its race problems. And there are many, starting with the number of black or minority faces you see in mining C-suites, as with very few exceptions your industry either whitewashes boards or has the worst sort of tokenism on show. The only place you see black people in executive positions in mining companies on a regular basis is South Africa, a country that knows all about structural racism and the steps to solve the problem.

The industry has to speak out on George Floyd and the growing movement around his death and needs to do it proactively, because this time really is different. The USA's Black and Afro-American communities have been hitting us with the same message for years, only to be met with silence from those who might agree (or tone-deaf idiocies such as, "Well actually young man, all lives matter!"). This time, white middle class comfy life guy who agrees with their cause, i.e. me, doesn't have the option of silent agreement. We need to speak, say "Ok, we are listening" because a flashpoint has occurred and they've finally, FINALLY, got our attention on the Afro-American agenda, not the one we'd like them to have.

Mining captain of industry, time to step up and put mining into the progressive social lane, rather than let it stagnate in the retro-mentality of always. Be the industry that makes a difference, instead of waiting for the different to happen to you. There are dozens of real mining rockstar influencers to choose from, famous name CEOs, investor moguls and even the big name newsletter writers who could all get a five minute slot on BNN with just a phone call. It would only take one of you to start the ball rolling.

re-post from here.

Bolsonaro and Orange Stupid

It is not a coincidence that Jair Bolsonaro, current President of Brazil and future life term prisoner on crimes against humanity, is now copying Orange Stupid and threatening to withdraw Brazil from the World Health Organization. The world's two worst places for death from Covid-19 have the same reaction because their leaders are from the same mould, their responses to Covid-19 were awful and now they are desperately trying to blame anyone but themselves because with this type of person, the buck never stops there. Just so you know, confirmed deaths from Covid-19 in Brazil are running at approximately one per minute. Seriously, do the math and those are just the confirmed deaths, unconfirmed estimates of Covid-19 as prime or aggravating factor in deaths could be five to ten times higher, according to the people you should have been listening to in the first place instead of these dangers to their fellow human beings.

There are of course plenty of people who adhere to the "let's just tough it out" attitude toward Covid-19. Sadly, those countries who were irresponsible enough to have voted one of these idiots as their President have had plenty of time to repent on their grave mistake.

6/5/20

It's the usual roaring silence from the mining industry on race (rpt2)


It comes as no surprise to this desk to note that, to date, we have not had a single word of support from the mining industry for the George Floyd protests in The USA and the world in general. Not a single company has issued a message of support, not a single captain of this white male dominated industry has stepped up to be counted. And it really is "as usual", this is after all the same industry that treated local communities like dirt for centuries, it's the one that was forced to accept women onto their boards, now it's setting up to be the one that will wait until obliged by law to do something about its race problems. And there are many, starting with the number of black or minority faces you see in mining C-suites, as with very few exceptions your industry either whitewashes boards or has the worst sort of tokenism on show. The only place you see black people in executive positions in mining companies on a regular basis is South Africa, a country that knows all about structural racism and the steps to solve the problem.

The industry has to speak out on George Floyd and the growing movement around his death and needs to do it proactively, because this time really is different. The USA's Black and Afro-American communities have been hitting us with the same message for years, only to be met with silence from those who might agree (or tone-deaf idiocies such as, "Well actually young man, all lives matter!"). This time, white middle class comfy life guy who agrees with their cause, i.e. me, doesn't have the option of silent agreement. We need to speak, say "Ok, we are listening" because a flashpoint has occurred and they've finally, FINALLY, got our attention on the Afro-American agenda, not the one we'd like them to have.

Mining captain of industry, time to step up and put mining into the progressive social lane, rather than let it stagnate in the retro-mentality of always. Be the industry that makes a difference, instead of waiting for the different to happen to you. There are dozens of real mining rockstar influencers to choose from, famous name CEOs, investor moguls and even the big name newsletter writers who could all get a five minute slot on BNN with just a phone call. It would only take one of you to start the ball rolling.

re-post from here.

According to Orange Stupid, this is a great day for George Floyd

Logically, we are therefore forced to conclude that George Floyd had an even greater day a couple of Mondays ago. Please, USA, vote an adult into the White House next time.

Regulus Resources (REG.v) is having another good day

Nice price pop, plus better average volumes for the second Friday in a row. 100k+ might not be much for some stocks, but this is a distinct improvement.



A ticker that has made full use of the copper rebound.

The Friday OT: Mon Laferte; Amor Completo

If you don't know Mon Laferte you probably don't live in South America. The girl got all the goods; talent, an edgy-ethereal voice, songwriting you feel deep down. This song has been known to bring a lump to your author's throat:



O wad some Power the giftie gie us,
To see oursels as ithers see us.
This song is dedicated to D.

You are selling your gold stocks

I find this strange, you seem to think gold will not go higher again:



Then again, that chart does look incredibly bearish, right? It's all over, right? Pack up and go home, right?

Here's the thing with Minera IRL (MIRL.cse)

When Minera IRL (MIRL.cse) didn't just dump at the bell this morning...



...but was whacked up to 28% by a concerted attack. Starting 08:30:00 precisely via four different brokerage desks as well as House One, the thin bid was whacked and the stock pushed the stock down 30% in minutes. Weird stuff, so the thing one does as a shareholder and a person who covers the stock is to dial them up and find out if there's anything materially wrong. Once I'd done just that and found out the company is in normal shape with no issues, that's exactly what I posted and by the looks of the chart, the publication of that post marked the bottom prices in a very active day, over 2m shares trade in a stock that's usually a trickle. 

However, once the post was out I followed up on the story, that aggressive stock attack pattern in a company that normally trades by appointment was unusual. Therefore, after "asking around Lima a bit" (as they say) it turns out there was good reason for the action this morning. The rumour is now rife (several sources confirmed, in fact I'd hardly call it a rumour, more like something now taken as read) IRL hasn't just got a financing offer for Ollachea but has several offers, ranging from straight cash purchase to JV proposals or funding from strategic third parties. What's more, MIRL is now in the final stages of working on the trade-offs of the different scenarios as part of the negotiated settlement with Cofide, with that also in late stages after its Covid-19 enforced pause. This is obviously a significant and material event and the news has now leaked out, so what we saw this morning were Lima sharks who know what kind of value is about to be unlocked at Ollachea, shaking the tree and trying to get you gringos to sell so they can jump in cheaply for the victory lap. As the pending news is obviously material, as it is now known selectively it would come as no surprise to see the stock halted tomorrow morning, or a news release before trading.

6/4/20

kai & mark talk mining episode seven

The link to the Twitter video is here.

The link to this youtube below is here.

It's about silver and why 2020 isn't going to be its year.


It's the usual roaring silence from the mining industry on race (rpt)


It comes as no surprise to this desk to note that, to date, we have not had a single word of support from the mining industry for the George Floyd protests in The USA and the world in general. Not a single company has issued a message of support, not a single captain of this white male dominated industry has stepped up to be counted. And it really is "as usual", this is after all the same industry that treated local communities like dirt for centuries, it's the one that was forced to accept women onto their boards, now it's setting up to be the one that will wait until obliged by law to do something about its race problems. And there are many, starting with the number of black or minority faces you see in mining C-suites, as with very few exceptions your industry either whitewashes boards or has the worst sort of tokenism on show. The only place you see black people in executive positions in mining companies on a regular basis is South Africa, a country that knows all about structural racism and the steps to solve the problem.

The industry has to speak out on George Floyd and the growing movement around his death and needs to do it proactively, because this time really is different. The USA's Black and Afro-American communities have been hitting us with the same message for years, only to be met with silence from those who might agree (or tone-deaf idiocies such as, "Well actually young man, all lives matter!"). This time, white middle class comfy life guy who agrees with their cause, i.e. me, doesn't have the option of silent agreement. We need to speak, say "Ok, we are listening" because a flashpoint has occurred and they've finally, FINALLY, got our attention on the Afro-American agenda, not the one we'd like them to have.

Mining captain of industry, time to step up and put mining into the progressive social lane, rather than let it stagnate in the retro-mentality of always. Be the industry that makes a difference, instead of waiting for the different to happen to you. There are dozens of real mining rockstar influencers to choose from, famous name CEOs, investor moguls and even the big name newsletter writers who could all get a five minute slot on BNN with just a phone call. It would only take one of you to start the ball rolling.

re-post from here.

A word on Minera IRL (MIRL.cse) today...

...as I've started to get mails. I've just contacted the company, there is absolutely nothing wrong, Corihuarmi is operating 100%, the company has its Covid-19 permits approved by both Mining and Health Ministries as required by law, Ollachea is under constant and active discussion. Also, one look at the tape will tell you what's going on, this is a concerted effort to dump the stock price for one reason or another. I'm a holder and it's easy to hold through these moments, just ignore.

An update has been sent to subscribers...

...this Thursday morning, just after the opening bell. A thought on a stock, no biggie.

Take a knee, Drew Brees

Here's a knee:


James Mattis stood up

A good man.

6/3/20

It's the usual roaring silence from the mining industry on race

It comes as no surprise to this desk to note that, to date, we have not had a single word of support from the mining industry for the George Floyd protests in The USA and the world in general. Not a single company has issued a message of support, not a single captain of this white male dominated industry has stepped up to be counted. And it really is "as usual", this is after all the same industry that treated local communities like dirt for centuries, it's the one that was forced to accept women onto their boards, now it's setting up to be the one that will wait until obliged by law to do something about its race problems. And there are many, starting with the number of black or minority faces you see in mining C-suites, as with very few exceptions your industry either whitewashes boards or has the worst sort of tokenism on show. The only place you see black people in executive positions in mining companies on a regular basis is South Africa, a country that knows all about structural racism and the steps to solve the problem.

The industry has to speak out on George Floyd and the growing movement around his death and needs to do it proactively, because this time really is different. The USA's Black and Afro-American communities have been hitting us with the same message for years, only to be met with silence from those who might agree (or tone-deaf idiocies such as, "Well actually young man, all lives matter!"). This time, white middle class comfy life guy who agrees with their cause, i.e. me, doesn't have the option of silent agreement. We need to speak, say "Ok, we are listening" because a flashpoint has occurred and they've finally, FINALLY, got our attention on the Afro-American agenda, not the one we'd like them to have.

Mining captain of industry, time to step up and put mining into the progressive social lane, rather than let it stagnate in the retro-mentality of always. Be the industry that makes a difference, instead of waiting for the different to happen to you. There are dozens of real mining rockstar influencers to choose from, famous name CEOs, investor moguls and even the big name newsletter writers who could all get a five minute slot on BNN with just a phone call. It would only take one of you to start the ball rolling.

First Mining (FF.to) displays Keith Neumeyer's business acumen

When still being pumped by Neumeyer in 2016 (he was still running the thing and hadn't dumped his shares on you at that time), First Mining (FF.to) purchased the Tamaka Gold Corp for its Goldlund asset in Ontario. Here's what FF.to paid:
"Tamaka will become a wholly owned subsidiary of First Mining and the holders of common shares of Tamaka will receive an aggregate of 92.5 million common shares of First Mining (the "Transaction"). The parties to the Transaction are at arm's length."

Today FF.v has announced it has sold Goldlund to neighbour Treasury Metals. Here's the deal:
Under the terms of the Agreement, First Mining shall receive: (i) 130 million common shares ("Common Shares") of Treasury (the "Share Consideration"); (ii) 35 million Common Share purchase warrants of Treasury (the "Warrants"), with each Warrant entitling the holder thereof to purchase one Common Share at an exercise price of $0.50 for a period of 36 months following the closing of the Transaction (the "Warrant Consideration"); (iii) a 1.5% net smelter returns royalty covering all of the Goldlund claims (the "Goldlund Royalty"), with the option for Treasury to buy-back 0.5% of the Goldlund Royalty for $5.0 million; and (iv) a milestone cash payment of $5.0 million, with 50% payable upon receipt of a final and binding mining lease under the Mining Act (Ontario) to extract ore from an open pit mine at Goldlund, and the remaining 50% payable upon the extraction of 300,000 tonnes of ore from a mine at Goldlund.

Let's see now...
  • At the time of the deal to buy Tamaka, FF.to was a C$0.78 stock. As they paid 92.5m in shares, that gives the purchase a ticket price of C$72.15m
  • FF then spent four years' worth of holding costs.
Today, FF will receive:
  • 130m shares of stock currently at 34c, that's $44.2m (and will be less at the open tomorrow on this news)
  • 35m warrants that give FF the right to pay (not get, but pay) TML another $17.5m
  • If a mine ever happens there's $5m cash payment  and a 1.5% NSR that's valued at $15m if the mine happens. 

Another multi-million dollar loss, nice going Keith! And let's recall that Keith deliberately set up FF.v as a "mineral bank", the corporate strategy was to buy cheaply and then sell when gold was higher. And everything went perfectly, except for one small detail...




Did you buy the dip this morning?

I bought the dip this morning*.

There's a good thing happening so the earlier you latch onto it the better, kind and esteemed mining investment people. Remember last year when you were gnashing your teeth at the "stonks" players who always bought the dip and always nailed the win? Well folks, now it's your turn! Once you've got rid of your perfectly understandable fear that mining stocks are going to send you on yet another SCUBA diving expedition, you can embrace the long-term bull trend that is now most obviously in place for gold and all its minions then you too will be buying the dips with the same pleasure I had this morning. Have a pleasant day and speak out against racism, don't just be a non-racist and remain quiet.


*Subscribers know my current shopping list

That's Doody dumping his Belo Sun...

...as he gets ready to announce his sale to his paying subscribers, probably. He'll announce it next week. Or Tomorrow. His normal M.O., the poor saps never realize how much they're being ripped off.


6/2/20

Eric Sprott's next big move, revealed


Mining PRs and the Ottotrans™, Part 109


IKN reveals the names of the two gold juniors in late-stage merger talks this week


EXCLUSIVE: IKN breaks the truth about Frank Giustra's mining empire


The latest IKN stock selection is up massively already: Here's the name




6/1/20

He's lost it

A coward. It shows he's never read a single history book in his life, he has no idea what always happens when you try to repress people who are protesting about repression. And another thing, if you couldn't see the checklist of fascist iconography on display tonight, you too need to read a few more books.

And let's not forget all patriotic Americans who stand by the Second Amendment and quite right, too. Odd to think that so many of you voted for your current President because you feared the other would threaten US citizens with its own military. Tonight, your President just threatened his own people with the US military. Many people wondered what this President would be like under a real crisis, as it turned out we had to wait until his fourth year to discover he will go down in history as one of the very worst ever offered up by The United States of America. And be clear this is not party politics, I would welcome Mike Pence as President tonight despite his failings, as he would not bring the US army on his fellow citizens.

Stand outside your house tonight. George Floyd cannot die in vain, time to say enough because if not here's a vision of the future, imagine a knee pressing down on a human neck - forever.

International Tower Hill (ITH.to): You crazies must be expecting different results this time

Ridiculous company with an impossible project run by scum.


Anything else you need to know?

UPDATE: Well I suppose I did ask. Yes, Marcelo Kim is absolute pondscum:




Look how proud of himself he is, too.




Hannan Metals (HAN.v): Like a rabbit caught in headlights...

...the newsletter writers, smart geologist seed investors and anal ysts who fell for Michael Hudson's poppycock and palaver about Hannan Metals (HAN.v) began to realize their mistake this weekend. We can now watch to see which one can swallow their pride and do the right thing by the people who pay them.

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

....in reverse order:

.
Third Place: "Hecla (HL) and Regulus (REG.v) do interesting online things". I don't know if it got busy due to HL or REG, but it got busy.

First Place: "Welcome to the Pleasure Dome II: This cannot be a coincidence". This is going to be funny.

The IKN Weekly, out now





IKN575 has just been sent to subscribers. This week's edition includes an excellent recipe for sea bass.

5/31/20

Lewis Hamilton forever

This:


Formula One world champion Lewis Hamilton has spoken out on the killing of George Floyd, and offered a damning condemnation of the silence from others in his sport, including his fellow drivers.

“I see those of you who are staying silent, some of you the biggest of stars yet you stay silent in the midst of injustice,” he wrote. “Not a sign from anybody in my industry which of course is a white-dominated sport.”

“I’m one of the only people of colour there yet I stand alone. I would have thought by now you would see why this happens and say something about it but you can’t stand alongside us. Just know I know who you are, and I see you.”


The 2020 'In Gold We Trust' report...

...was published by Incrementum this week. You can get your copy here.