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So here's the juice on the "BTO is buying SBB" rumour...

...that's been doing the rounds this morning.

It's Bullshit.

But like all the best rumours, it's wrapped in a package of small facts and logical assumptions. We know The Clive has had informal chats with Sabina and we know BTO likes the project, but for one thing the asking price is too high and for another, the whole sale will be one of those shopping processes, an auction that won't kick off til 2018 earliest. SBB isn't even going to entertain formal offers before then.

Bottom line: Another BS tale doing the rounds in order to try to drive BTO's share price down.

The brainstorm meeting at the junior mining company

"Well gents*, we need to do something. Commercial production has been delayed again, we're going to run out of cash, the balance sheet is an unholy mess and we're going to have to raise via another dilutive placement soon."

"But that's going to kill our share price! And it's already a pig this year!"

"Yeah I know, so we need to think of some way to pump it up and get a bunch of sheep to run it up before we announce."

"Hey! I have an idea! Why don't we announce a "three year plan"? We can tell them we're going to explore and add a boatload of ounces. After all, getting a resource out of all the sulphide stuff we have will be easy!"

"But we can't leach the sulphide like that! Totally different thing!"

"Dude, the dumbass sheep won't catch onto that! They'll just look at the headlines like they always do. This is a way of sounding serious, making it look long-term and adding resources without it costing much. And the longer we do this, the less they'll look at our financials. We can talk up adding oxide ounces too if you want."

"Hmmm...not a bad idea. When can you get a NR out there?"

"I'll put it together this weekend, we can publish on Monday."

"Great. Do it."

Welcome to the Rye Patch Gold (RPM.v) news release this morning.

*There are no ladies present. This is, after all, a junior mining management team.

There aren't many certainties in this world, but... thing you can bet the house, car, dog and contents of your kitchen upon is that after its production NR today, in the next few days Eric Sprott is going to choose one of his preferred lines of media communication and pump the merry bejeez out of Excellon Resources (

And don't say you weren't warned.

Fernando de Szyszlo 5


The IKN Weekly, out now

I don't know if that number's still accurate. I presume it must have been.

IKN439 has just been sent to subscribers. Gold producers day.

Fernando de Szyszlo 4


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

Third Place: "Fernando de Szyszlo", on his passing this week aged 92. Also, during the week I've featured a few of his works in separate posts here, here and here. I'll do a few more next week.

Second Place: "The reason why Tinka Resources (TK.v) isn't up further". A short rant-ette that hit a few nerves.
First Place: "Re-re-reiterating on Novo Resources (NVO.v) (from IKN438)". Yeah, fashion stock wins the race, lah lah lah. I won't be on this subject any longer, my piece is said and I'm not here to chase hits. Neither do I run this blog to reap another harvest of dumbass mails from idiots, the type who actively deserve to be separated from their net worth. Go spout your inanities at, Tommy loves you and always will.


The BCSC needs to close down Asanko

They've just tipped off a bunch of sell side analysts that their resource model overstates resources at a breakfast meeting. Yet again selective disclosure of material information to friends first.

The Friday OT: Equador; For Always (live)

My brand new earworm group and when I went over to their Youtube channel, this is the first track they offer up. A beautiful thing to put in your ears, they've only had a debut album out so far (this is the last track on it) so such a great start, but above and beyond all my stars this lady can sing! She sends shivers straight down the spine. Thanks again for the intro, MB.

Youtube here, Still no spelling mistakes in the title line.

The reason why Tinka Resources (TK.v) isn't up further

I get regular mails on the whole "why isn't Tinka Resources (TK.v) moving up, what with the property looking very good and zinc at $1.50/lb and..." etc etc thing. The reason is simple, TK refuses to drop its underpants and give the Vancouver money masters the financing at this level (with the half warrant) that they're insisting upon. TK thinks that the warrants exercise in November plus the resource update and then the PEA in early 2018 will make them suddenly irresistible to the world, while the people who really run the sector are just laughing their asses off and know that they can suppress this share price from here to eternity until the company plays ball and gives them their juicy slice. You seriously think they care if TK finishes this cycle with $10m at bank and a PEA organically when everyone knows the PFS drilling and study in 2018 will cost them three times treasury? 

When TK runs its placement, the brakes will be lifted. Simple as that.

PS: The only difference between this blog and the sector voices is that this blog has the balls to publish the things other people just furtively whisper to each other.

Fernando de Szyszlo 3

A good quarter from B2Gold

Right here. Libertad sucked, Limon improved, Masbate was in line, but the win was how Otjikoto kicked ass. Then Fekola added bonus ounces.

With gold running over $1300 pre-open, if BTO can't rally on the back of these numbers there's no hope left for it.

UPDATE an hour after the open: Seriously, what's a guy gotta do round here?