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The last two tracks from her album 'Aerial' together on one spool will leave you speechless
Sixteen minutes of pure music magic. Dedicated to reader 'DW'.
In response to a mailed question today. You want it simple?
IKN can wildly oversimplify at the drop of a hat. Next question?
Full story here at Colombia Reports, we'll just quote the Colombian minister:
""It is a shameful publication and we demand that the airline withdraw it and publicly apologize to Cartagena and Colombia," said the Minister of Industrial Commerce and Tourism, Sergio Diaz Granados."
"Our petroleum, our gas and our energy cannot be put into the hands of a Russian company because it would convert us into a 5th division country."
Today our occasional series takes in the NR out of Extorre Gold (XG.to) (XG).
This is what they wrote:
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 19, 2012) - Extorre Gold Mines Limited (TSX:XG.TO - News) (NYSE Amex:XG - News) (FRANKFURT:E1R.F - News) ("Extorre" or the "Company) wishes to provide its insight on the proposed acquisition by the Argentine Federal Government of 51% of the Argentine oil company, Yacimientos Petroliferos Fiscales (YPF), from Spanish Oil Company Repsol.
It is important to note that there are significant differences in regulations, tradition, public importance and internal use of products between the oil & gas sector and the mining industry in Argentina. Public policy in one sector is not connected with the other.
Furthermore, the Argentinean Government initiative currently under discussion before Congress has been enacted only in connection with YPF which has a long Argentinean history. Extorre notes that YPF was State owned from its inception in the early 1920's until the late 1990's, when it was privatized and a majority stake sold to Repsol. The current re-nationalization process of YPF has not been extended to other oil & gas companies operating in Argentina.
There is no reported agenda in the popular press or, to Extorre's knowledge, to extend the nationalization process to any other company in the oil and gas sector in Argentina or to any other sector of the economy. Additionally, recently, several mining Provinces have joined an alliance in support of mining with the acknowledgment of the Argentinean Government and none of the objectives of that alliance relate to any action or policy similar to the one taken in connection with YPF. The mining sector has also received explicit public support from the Provinces and the Federal Government.
Several other mining companies operating in Argentina have publicly commented on this situation in terms similar to Extorre's view.
Very recent discussions with potential financiers to provide capital for the potential development of Cerro Moro have indicated that the YPF action has not materially affected the finance ability of the project.
And this is what it means:
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 19, 2012) - Extorre Gold Mines Limited (TSX:XG.TO - News) (NYSE Amex:XG - News) (FRANKFURT:E1R.F - News) ("Extorre" or the "Company) wishes to ask the investment community as to why it is afraid. Why are you afraid, nice investor person? Don't be afraid! The nasty lady isn't going to take our nice project, so you can buy our shares and you don't have to worry. About anything. Relax, put on some soothing music, stop worrying. And stop selling your fucking shares as well, willyaz? And please don't be afraid any more. There's nothing to worry about. Nothing at all. Look into my eyes.
Just about the most interesting junior miner price chart out there today.
|Polman, Raymond L.|
|Insider's Relationship to Issuer:||5 - Senior Officer of Issuer|
| Transaction |
|Transaction Nature|| # or value acquired |
or disposed of
| Unit |
| Account |
|Security Type:||Common Shares (Direct Ownership)|
|Apr 17/12||10 - Disposition in the public market||-500||$15.71||-25,000|
|Apr 17/12||10 - Disposition in the public market||-2,000||$15.72||-24,500|
|Apr 17/12||10 - Disposition in the public market||-5,000||$15.70||-22,500|
|Apr 17/12||10 - Disposition in the public market||-2,500||$15.65||-17,500|
|Apr 17/12||10 - Disposition in the public market||-2,400||$15.73||-15,000|
|Apr 17/12||10 - Disposition in the public market||-100||$15.75||-12,600|
|Apr 17/12||10 - Disposition in the public market||-1,100||$15.77||-12,500|
|Apr 17/12||10 - Disposition in the public market||-100||$15.77||-11,400|
|Apr 17/12||10 - Disposition in the public market||-1,300||$15.73||-11,300|
|Apr 17/12||10 - Disposition in the public market||-3,700||$15.76||-10,000|
|Apr 17/12||10 - Disposition in the public market||-700||$15.81||-6,300|
|Apr 17/12||10 - Disposition in the public market||-600||$15.81||-5,600|
|Apr 17/12||10 - Disposition in the public market||-100||$15.71||-5,000|
|Apr 17/12||10 - Disposition in the public market||-4,400||$15.72||-4,900|
|Apr 17/12||10 - Disposition in the public market||-500||$15.81||-500|
|Apr 18/12||51 - Exercise of options||25,000||$3.70||0|
Ever wondered why exploration stage mining companies much prefer the Canadian stock market for listing and tend to avoid the US stock market?
"In separate news, the Company confirmed today that the report of the Company's independent public accounting firm on its audited consolidated financial statements for the seven month period ended December 31, 2011 and for the year ended May 31, 2011, as filed with certain Canadian regulatory authorities and with the United States Securities and Exchange Commission in the Company's annual report on Form 40-F, on March 26, 2012, contained an "emphasis of matter" paragraph in relation to a going concern explanatory note. The note did not modify the report of the independent auditor, but instead draws attention to Note 1 of the Company's audited consolidated financial statements which describe certain material uncertainties related to the ability of the Company to continue as a going concern. Under rules of the NYSE Amex the inclusion of such a paragraph is required to be announced. As disclosed in Note 1 to the Company's audited consolidated financial statements, the Company's current working capital is considered sufficient to fund its operations and exploration program for the current fiscal year."
So winnah winnah and the 50 bucks should get a couple of chikkin dinnahs foryaz. Congrats
*sadly, he ruined it by smashing all the windows just after that
**in Mazatlán anyway
Argentina political risk perception growing in the North
The important word in the title is “perception”, because whether or not it’s deserved the World’s Free Press™ seems to have decided to go on an anti-Argentina spree, with the two prongs of attack the business climate, test case being YPF, and political freedom climate, test case being The Falklands/Las Malvinas. In the last 72 hours your author has read English language analysis and opinion from Canaccord’s energy desk cutting who recommend cutting exposure to Argentina due to political risk (the PDF title line being “Oil and Gas, International -Downgrading Argentina outlook - Be afraid, be very afraid -- Target prices reduced”), some libertarian goldbug nutcase named Pater Tenebrarum (apparently he’s very widely read and I’m supposed to have heard of him before...sorry ‘bout that) who wrote a long, stupid, ignorant-gringo, highly cherry-picked article (14) that cobbles together the whole range of current affair issues to get to its point of accusing Cristina Fernandez de Kirchner of fascism, newswire stories bouncing between Bloomberg and Calgary (15) about imminent nationalizations, British banks being frozen out of Argentina if they support anything that goes on in The Falklands/Las Malvinas (16) and (of course, regular as clockwork) the warnings about how Argentina is on course for imminent economic collapse because of high interest rates and the way the country uses its Central Bank funds as a piggy bank and the weakening Peso all the other arguments the world has used against the country for roughly eight years...ever since Argentina had the temerity to throw out the IMF and its austerity plans, go it alone and do an excellent job of recovery from a financial meltdown largely caused by listening to overseas experts in the 1990s, in fact.
Because the issues lie well outside our fields covered by The IKN Weekly, we’re not going to get into the difficult and politically charged issues surrounding YPF right now (it might happen, might not), nor the pros and cons of the Falklands/Malvinas spat (you’ll note my neutrality by the way both names are given), nor whether Argentina really deserves a new round of criticisms or exposure downgrades from people who have absolutely no idea about the country (strange how countries like Argentina and Venezuela can stay constantly on the brink of collapse for a decade, while others like Iceland, Greece, Ireland get AAA ratings and warm plaudits). What we’re pointing to here is the perception, above all. It’s likely that this current Argentina-as-piñata fashion will continue (for as long as the country makes noises that threaten the back pockets of wealthy people up North, probably) and that perception is enough, most of the time at least, to get people running for cover and abandoning investment ideas that hinge on the country.
Our ‘Stocks to Follow’ list currently holds no exposure to Argentina, which is something that may change if we take the eventual plunge on [named removed] for its limited exposure to the country but apart from that there’s nothing in the active pipeline, if memory serves. This isn’t a coincidence as even in the best regions Argentina isn’t a plain sailing place in which to do mining business, while in the worst regions it’s simply impossible. Added to the bureaucratic levels that range between not easy to nightmare, inflation isn’t helping any company that earns in Dollars but pays for its mining in Pesos. The bottom line is that you tell me Argentina is a tough place to do business and I’ll agree, because it’s always been that way. You tell me that perception of Argentina in the eyes of the industrialized nations is degrading and I’d agree. Not only that, it’s probably an important development in our style-over-substance modern world. You tell me it’s some new Fascist State and I’ll laugh in your face and tell you to learn Spanish before trying to form an opinion about the place next time.
"....a $111 million annual net loss at a company with only $349 million in assets and $86 million in sales. Ouch. Where did the money go?"
La Nacion and re-labelled in Engleeesh.
- Gold production of 55,973 oz gold
- Mine site cash costs of $439/oz, total cash costs of $652/oz
- Cash on hand at $70.8m
Have at it, give it your best shot, show us what you're made of and all that malarkey. We'll give you 48 hours to come up with a caption of one, two or many people speaking...or hey, don't let my limitations bug you, have the water glasses chatting too if you like (put it in comments below or as many of you seem to prefer, mail to the usual address otto.rock1 AT gmail DOT com).
President CFK just announced it, with a law being sent to Congress that will put 51% of the oil company into national State hands and 49% of it into the hands of the provinces. Link here
1) Promise great Growth! Make sure Growth! is mentioned all the time.
2) Make lame excuses when Growth! doesn't show up
3) But don't worry, just keep on promising that great Growth! Talk about Increases! too, because that's a nice positive word to mix in with Growth!
4) Return to point 2)
Here's a slice of the company's 2q10 MD&A
This is from the 4q10 MD&A
Now an example from the 1q11 MD&A
Now from the 2q11 MD&A
This last one (got the message yet?) is from the 3q11 MD&A