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8/19/17

Good news on Atico Mining (ATY.v)

IKN Nerve Centre hears that Atico Mining (ATY.v) has been thoroughly audited by Colombia's Environment people, all tests were passed with flying colours and the mine will re-open for business this very weekend, no problems at all. It had the feel of a minor issue at the time last week, but it's good to see confirmation. Smart money bought the dip.

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

...in reverse order:


Third Place: "DanO does Alset (ION.v)". DanO has done such a great job covering this blatant scam deisgned specifically to rip off greenhorns and as this should be the last in his series, we should doff our collective caps and thank him. Although utterly unimportant in the great scheme of things, Alset (ION.v) is a most useful case study for newcomers to the sector as we've seen the whole cycle in a short period: A mouthy, arrogant, unqualified blowhard company head suckers in greenhorns with smooth talk and then fails to deliver on the grand promises, hardly a surprise because the whole thing was a zero-content scam from start to finish. But moose/llama/camel/chinchilla pasture doesn't stop people running a scam from making money, the insiders trade the stock and get rich while the newbies get played from start to finish and don't see what's happened until it's all too late. Welcome to the TSXV, scamsters like the despicable whore Allan Barry abound and will be waiting for you with open arms forever. Want a friend? They'll be your friend.

Second Place: "Atico (ATY.v): The mine is closed by Colombia's Environment Ministry". Now old news, but this one got plenty of hits because IKN broke the story. It happens like that.
 
First Place: "Regulus Resources (REG.v)". A short and unimportant post, but it got love because the world loves to read about winners. Plenty on REG in IKN431 tomorrow too subbers, your author had the chance to sit down with the team and get the latest juice.

8/18/17

Bruce Forsyth

Good game.

The Friday OT: Freddie Mercury and Montserrat Caballé; Barcelona

For obvious reasons. Beauty, celebration and love win every time.



Youtube here. The shining jewel that is Caballé's voice. And as Freddie says at the very end, viva Barcelona. Freddie was right.

It would seem...

...that a few people read this humble corner of cyberspace.



Who knew? Just sayin'.

Gold pings U$1,300/oz for the third time since April...

...and the obvious question is now, will it hold the level this time?



Time will tell.

8/17/17

Junior markets surprise of the day is...

...how Constantine (CEM.v) only moved 3% higher on the back of this news release this morning. When your headline includes kickass stuff such as...

1.21 kilograms per tonne (38.9 opt) Silver over 2.7 meters
461 g/t (14.7 opt) Silver and 0.9 g/t Gold over 10.3 meters
11.3% Zinc over 17.8 meters and 9.9% Zinc over 20.4 meters

...and your market cap is under C$28m, you have to wonder why. I have a sneakydeaky feeling they might not have moved much because the NR only went out on some backwater service called Newsfile, not on Marketwired or CNW. If so, there's a shot at a sleeper move tomorrow Friday.

DanO does Alset (ION.v)

Put a fork in this scam, it's done. DanO sharpens his pencil and writes a few home truths about this house scam Alset (ION.v), right here. Particularly appreciated is the way he explains to what may be a lay audience just how the two-faced lying toerag of a CEO, Allan Barry Laboucan, tries to lipstick this pig of a company.

The buy theory on Primero Mining (P.to) (PPPMF)

A classic rubbernecking car crash scenario, it's tough to keep one's eyes away from Primero Mining (P.to) (PPPMF, which used to be PPP until the USA rightly pulled the plug on the main listing...in fact beats me why Canada hasn't put it back in the TSXV yet) at the moment. But there is at least a theory on buying the stock now, something I would NOT recommend until the potentially positive news shows up but as the stock gets cheaper and cheaper, it's starting to nudge the brain cells here at IKN Nerve Centre. The buy theory got a mention in the last paragraph of the short note on P.to in IKN430 in fact, out last Sunday.  Here's that piece.



Primero Mining (PPP) (P.to) sells Black Fox to McEwen Mining (MUX)

On the blog last week I had fun with the declaration of Primero head man Conway that, “…the divestiture of Black Fox is consistent with our previously disclosed strategic review process to maximize value for shareholders” (11), because it looks ridiculous on several levels. For one the share price collapse of the company in recent times. For another the whole way they buy Black Fox in the Brigus deal for C$220m, spend around $35m net on the asset and then less than four years later sell it to McEwen Mining for U$35m (not to mention losing Renaud Adams, who hated the Brigus deal and as a result left Primero, joined Richmont and made his new place a great success). It’s an unmitigated disaster, but in truth I do actually understand what CEO Conway was talking about.



I’ve been back to look at the PPP numbers several times in 2016 and 2017 as the stock got cheaper and cheaper and, as anyone obsessed with balance sheets could have told you, it was only a matter of time before the company collapsed completely. That in turn meant that before the announced deal last week, the company’s equity value (i.e. its share price) was still being overestimated by the market. Conway also knew this, which is why he agreed to sell Black Fox on the cheap and offload the liabilities that go with the mine, because if he didn’t PPP was on a one-way street to default. So yes, Conway was in fact true to his word about maximizing shareholder value because if he hadn’t made that distressed sale, it was only time between PPP and a zero cent share price.



On the subject, there is talk that PPP is in talks with Wheaton Precious Metals (WPM) in order to renegotiate its streaming deal on San Dimas. This alone won’t get the company out of the woods (they still have serious operational and worker relations issues at the mine) but if we see a deal announced PPP could suddenly become a buy.

Full disclosure: No position at all in Primero.

UPDATE: Regular maipal 'MP' writes in and goes the sardonic route:

Fishing > Capital Markets.

Fair to say that Regulus Resources (REG.v)....

...has had a good week so far.


And your humble scribe is meeting REG CEO John Black for dinner this evening. Any questions for him? You know the mail address.

IKN: Latching onto the winners like a bloodsucking parasite since 2008.

8/16/17

Until this line goes under 70X...

...you can put all that "bullish metals" talk on hold.




You don't have to be as stupid as Keith Neumeyer and his "going to 9X" malarkey to know that the GSR needs to go under 70x before a sustainable precious metals rally begins.

8/15/17

Atico (ATY.v): The mine is closed by Colombia's Environment Ministry

As of today. They need to tell us about it officially though.

UPDATE: ATY gives us a late-night NR. Doesn't sound quite as bad as it did, though IKN's First Law of Mining News Releases is still in play.