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1/24/17

News in from the bottom right hand corner of the blog

It says this:

According to the nice people at Google we just went through 15 million pageviews, which is good. Thanks for your continued eyeballs, esteemed IKN readership.

The INV Metals (INV.to) news that they didn't want you to see up there

And just so you know the context here the "Cantonal Council of Cuenca" mentioned in the article below is the "Concejo Cantonal de Cuenca", i.e. the regional government of the Cuenca region in Ecuador where INV Metals (INV.to) has its Loma Larga project and wider concessions (as well as the Chinese capitals Rio Blanco project).  Hey, I wonder why nobody in Canada has told you about this one yet? Candace? Your dad hasn't given you permission to comment yet, Candace?

The official Concejo Cantonal de Cuenca website report on the vote dated January 23rd 2017 is right here on this link, but to get to the brass tacks let's go with how Ecuador's newspaper of record, 'El Comercio', reported the matter yesterday. Your (human being, not Google) translation of the important excerpts goes like this:

"By twelve votes in favour to four against, the Cantonal Council of Cuenca approved this Sunday January 22nd a declaration with 12 resolutions related to the preservation of water sources and mining activity. The debate, during an extraordinary session, lasted over five hours.

One of the main resolutions was to declare the territory of the Canton Cuenca, its paramos (high altitude rural zones) and ecosystems free of metals mining activity.
...

Another resolution was to demand that the government suspend the mining exploration and operation activities of the Rio Blanco and Loma Larga mining projects."

Chart of the day is...

...zinc, five year chart from those nice people at Kitco:


 
Only because this humble corner of cyberspace hasn't mentioned the chart recently. And of course we were pointing to the bullish outlook for the metal way back before the latest round of rah-rah bandwagon latecomers with fat mouths started shooting their lips off. Early May 2016, to be exact.
Zinc: Demand to outstrip supply in 2016
Yes, shameful but it’s true, your author is going all zinc-pumpy on you after sneering at the “it’s gonna happen anytime now folks!” perma-pumping of the sellside in zinc for years. This “Get On Zinc Before It Flies!!!” is a narrative (with obligatory three exclamation marks) that’s been sold to us for years, but this time it really seems to have some fundamentals to back up the wishful thinking and (continues)

And I wasn't one of those idiot Zn permabulls in a sellside brokerage cubicle saying the same damned thing about zinc every year since the Lehman crisis, either. Just sayin'.


Trump and NAFTA and scams like Eco Oro (EOM.to)

A short thought from IKN401, out last Sunday:


The North American Free Trade Agreement

I can’t help but wonder what the boards of directors of Eco Oro (EOM.to), Trimetals Mining (TMI.to) and any other of these rip-off juniors trying to use NAFTA rules to take countries to court think about President Donald Trump’s stated intention this weekend to start re-negotiating NAFTA. Maybe any of you daft enough to have fed these quasi-scam companies with money for shares are planning to ask your respective board of directors for an opinion, but if you do don’t worry, they’re bound to tell you there’s nothing at all to worry about.



1/23/17

We now know why Gold Resource Corp (GORO) is so quiet on the death of one of its workers

And this report may explain why. According to locals at the scene:
  • The accident happened at 03:40am, the early hours of Friday morning.
  • The worker suffered a fall, but did not die immediately and was helped by his work-mate who contacted the mine head supervisor.
  • The management at the GORO mine refused to enter the mine in order to give first aid.
  • The management also failed to do their obligatory duty by refusing to contact local authorities and report the incident.
  • By 9am, word had got round the workforce of the accident and the family of the victim arrived at the mine. They were refused access and were told nothing.
  • The family eventually forced their way into the mine and demanded answers.
  • At that point the GORO mine management organized a rescue party and entered the mine, only to find the worker had died of asphyxia.

Dear shareholders of GORO, this is the level of people you are sponsoring with your money.

The Fortuna Silver (FSM) (FVI.to) term sheet

Fortuna Silver (FSM) (FVI.to) is going to place 10.325m shares at U$6.30 a pop. There's also a 15% overallotment (1,548,750 shares) to throw in.

FSM closed at U$6.85 today. And will be down tomorrow, no matter what gold does.





My thanks to reader L for the forward.

The Brent Cook CUM Shot

At VRIC, right now:


And yeah, I know Copper Mountain isn't CUM any more....feeling nostalgic here....

Metanor Resources (MTO.v) alternative facts

Today's commentary on Metanor Resources (MTO.v) is brought to you by the office of Kellyanne Conway:
 
  • This is not a joke miner and lifestyle company for a couple of lazy Quebecois businessmen.
  • It has a strong balance sheet and no debt problems at all.
  • Jay Taylor has not been paid enormous amounts of money for years on end to con naive retail tyros into buying chunks of this dog.
  • Ditto Thibault Lapouttre.
  • The share rollback announced today is not utterly shameful for an operating miner.
  • Eric Sprott was not stupid for buying into the bullshit marketing spiel.
  • Ditto Nolan Watson.
  • IKN head office never rolls its eyes at mails with "MTO" in the title line, always reads their contents and always makes a point of replying to the mailer promptly and courteously.


Have a nice alternative day.

Cordoba Minerals (CDB.v) gold porn

No comments necessary:



Cordoba Minerals' (CDB.v) on-site security costs have just gone up significantly

Nice problem to have, though. Your real live actual game-changer NR here, its headline is...

 Cordoba Minerals Intersects 4,440 g/t Gold, 10.25% Copper, 24.7% Zinc and 347 g/t Silver Over 0.9 Meters in New Discovery
...and for what it's worth...


...the residual isn't great shakes.

1/22/17

The IKN Weekly, out now


IKN401 has just been sent to subscribers. The usual hucksterish stuff, trying to bilk you all out of your hard-earned cash.

Dynacor Gold (DNG.to): Still operating illegally at Veta Dorada

Incredibly, DNG doesn't seem to think that the commencement of legal action by the regional government of Peru, on which its Veta Dorada plant is located, in order to repossess the land which was used illegally by the company to build a processing plant, is material news.