start here

start here

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


Management at Copper Mountain and K92, please take note

MarketWatch this morning runs "LUV your stock: Why ticker symbols matter", here's an excerpt:
"...researchers asked undergraduate business students at the University of Central Florida to rate three-letter ticker symbols from 1,959 publicly traded companies based on how much they liked them and how easy they were to pronounce. The paper found that valuations of shares with symbols the students liked.... were about 1.3 percentage points higher than valuations of those with handles rated less favorably..." continues here

The people behind the ticker symbol decisions for Copper Mountain (CUM) and "Derek and Clive" K92 Mining (KNT) need their heads examining. Mind you, I still rue the day now defunct junior Polar Star got in new management and changed its ticker to PSR. Previously it had been POS, which was simply perfect.

Chart of the day is...

...the Kitco live gold chart, which you can follow here if you want:

Somebody in New York decided they wanted to own some gold.

The Guardian picks up the story of the death of Brazil environment officer Luiz Alberto Araújo

This is the assassination, most a hit job ordered by illegal loggers, that IKN picked up on at the time of the killing back on October 13th (here and here). It's good to see it getting some wider coverage and here's an extract from the Graun note:

More than 150 environmental activists have been killed in Brazil since 2012, with studies showing the country accounts for half the global toll of such murders.
Many of those killed, including the high-profile cases of Chico Mendes, Dorothy Stang, and Zé Claudio Ribeiro da Silva, were campaigners. But Araújo was a government official, and advocates say his murder is a rare and worrying development.

“The killing of Luiz Alberto Araújo marks a new low in the war waged against environmentalists in the Brazilian Amazon,” said Billy Kyte, campaign leader at the NGO Global Witness. “It sends a message that no one is untouchable.


The IKN Weekly, out now

IKN389 has just been sent to subscribers. It has words, numbers and charts with both words and numbers. And Wilfred Owen. And Douglas Adams.

Global Mining Observer interviews David Garofalo of Goldcorp (GG)

Even by GMO's high standards this is one humdinger of an interview. The intrepid AW makes it to Vancouver and sits down with Garofalo, head cheese of Goldcorp (GG) and gets a whole stack of inside track on how the company's new boss sees his company's direction.

Go read Breakfast in Vancouver with David Garofalo. As for all you other mining bosses out there, you too would look a whole lot better in the eyes of the investment public if you did this kind of Q&A, instead of the normal fawning BS ego-massage stuff you all seem to prefer. Applause due to Garofalo.


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

Third Place: "The junior mining shakedown, as explained in the year 1377". I'm glad this one just managed to squeeze into the frame as it's by far my favourite thing of the week. What has been will be again, what has been done will be done again; there is nothing new under the sun.

Second Place: "Avino (ASM.v) (ASM) 3q16 production". A short post with just a single chart, but clearly on a company around which people are sniffing. There's more details on ASM's quarter of production and other things in the Weekly out tomorrow, subbers.

First Place: "Gary Tanashian...". I think this one became the most viewed post of the week because Gary linked back to it from his place (and he gets a lot of hits, quite right too). But for whatever reason it's a fitting top spot, he's been calling the market very well recently as this shout-out post documented. You really should subscribe to his weekly missive, I read it every week without fail because it's excellent (though for full disclosure I don't pay, we do barter on each others' work...and I get the better end of that deal).


Hey, I wonder why Metanor (MTO.v) left it until late on a Friday to file its annuals?

Is it the 75m shares added in the year?
Is it the $0.78m negative working cap?

Or is it this, the accountancy violin concerto?

During the quarter ended June 30, 2016, the operating income totaled $6,162,768 compared to a loss of $1,503,017 in 2015. The revenue, cost of sales and gross loss totaled $15,492,036, $15,636,711 and $144,675 respectively compared to $13,989,447, $14,424,851 and $435,404 in 2015. This increase of $7,665,785 is mainly explained by the reversal of an impairment charge on exploration and evaluation assets of $10,586,490 and the impairment of property, plant and equipment of $3,050,000.

The paid pumpers who'll shove this in your face on Monday, example Jay Taylor and Thibault Laputain*, will skip over the bullshit asset re-rating and point to a non-existent paper profit. The single worst gold mining company in Canada, anyone owning this needs specialist psychiatric help. Eric Sprott and Nolan Watson, step forward.

*i think that's how you spell it :-)

The Friday OT: BT; Indivism

BT is out with a new album, called _

Yes, seriously, it's called "_", as in "underbar". So we now have an artist with a two letter name and a single minor keystroke for his latest work. So be it, but a rose by any other etc because this three suite album is just plain fabbo. Here's the second suite in its entirety, called Indivism.

Youtube here.

It's been a good week...

...for the portfolio (assuming  a relatively smooth run in the next four hours this Friday) and I just noticed, while doing some preliminary work on numbers for The IKN Weekly for Sunday that of the 14 stocks we currently cover, a full 13 are up on the week, including one up 25+%, three others up 12% and a whole gaggle in the 6% to 8% range. So it's fun to note (this end at least) that the only stock I've received mail on this week has been the one loser of the 14. Such is the way of the the job, I suppose :-)

However, content here on the blog has been light. That's probably because it gets tougher to be snarky about the sector when things are going well. Then again, it's going to be even thinner next week, what with the four day trip I'm on. Have a pleasant weekend.


The Muck Pile: Teddy Salad is growing on me already

This is my kind of blogger. Muckpile Mike I salute you, you've found an excellent voice to take over the space. Teddy Salad I doff my cap, you are a welcome and much-needed addition to the blogosphere, sir.


50 years.

Wesdome ( trading

I've heard more rumours than I've had hot dinners about Wesdome ( in the last couple of days, most of them centred around the pending drill numbers from Kiena, apparently about to hit any day now. So it's interesting to see the PPS fall off a mini cliff a few minutes ago, there are some fun'n'games going on in this stock now, it seems.

On seeing the share price getting thrown around like that I was reminded of the larger players in the stock that had their plans rebuffed and promptly withdrew chunks of their cash to put it into...IMPACT Silver at a buck. Oops.