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*as is repetition of the same colloquialism
Is this one. We also note that Orion has already started on its smaller mine strategy, by bunging
$30m $35m at GoGold (GGD.to) earlier this week and then $50m at Aurcana (AUN.v) today. Reuters got your info:
Red Kite partner Lewnowski spins off mine finance fundBy Eric Onstad and Melanie Burton
LONDON/MELBOURNE, Sept 19 (Reuters) - One of the founding partners of UK-based metals hedge fund firm RK Capital Management LLP has departed and taken a mining finance fund with him.Oskar Lewnowski, based in New York, was a founding member of The Red Kite Group, which started up in 2004 to become one of the biggest hitters in the metals industry. Red Kite had two mining finance funds, of which one, run by Lewnowski, has been spun off and renamed the Orion Mine Finance Fund, a Red Kite spokesman said in an email."A mutual decision was reached by the managing partners - Michael Farmer, Oskar Lewnowski, David Lilley - to separate their business," it said."Both funds expect to work together on select future deals, sharing expertise in physical sales and logistic where appropriate."The Red Kite Group has $2.3 billion under management and Orion Mine Finance has $1.1 billion. Lewnowski wanted to pursue a strategy of building a portfolio of smaller mining firms while RK believed mining finance should be strictly tied to offtake agreements, said a source with knowledge of the matter, declining to be identified. Orion - with offices in New York, Denver and Sydney -provides a wide range of financing transactions in addition to offtake deals, including debt, equity, convertibles and royalties, according to its website. The Red Kite Group has offices in London, New York, Shanghai and Hong Kong.
UPDATE: Twitterpal Ross adds more smart advice:
Continental's CEO, Ari Sussman, commented "The strength of the Continental Gold team is the desire and effort to always achieve more. This initial resource is a reflection of their dedication and puts the company on track to achieve its goal of commercial gold production in 2014.
Buriticá will be producing between 200,000 and 300,000 ounces of gold a year by the end of 2014, Sussman promises.
"The hospital warned locals to not use penis enhancing drugs without prescription to avoid incidents like this"
This brings us to the big question, and the question is:
UPDATED: By request, here's the main write-up piece on GORO from IKN228 dated Sunday September 15th. Looks like the only thing wrong was the last sentence; you had 24 hours, not two weeks:
Gold Resource Corp (GORO): Am I allowed to make a short into a Top Pick? Would you people out there complain if I did? It’s not really about the way that Reid pere has passed the baton on to Reid fils, as seen last week (8), because the corporate style (both operational and promotional) isn’t about to change, we know that the news last week isn’t some sort of harbinger of new brooms or a change towards a serious attitude at the company. What’s more, I do get that a speculative junior gold name with a fanclub following and promotional pump from the anal yst community will see the type of rebound move we saw in it on Friday, so that’s not the issue here.
The issue it its fundamentals, and GORO is about to hit some serious headwinds that not even its biggest promo artists will be able to ignore.
1) In two and a bit weeks’ time, Hochschild (HOC.L) will be allowed by SEC rules to dump another large tranche of the GORO shares it owns onto the market. It will do so, and sooner rather than later.
2) At the current price for silver (and gold, but Ag is the main revenue generator) GORO is not making a profit on its operations. Let’s be clear about what that means; it means before it pays any dividends to shareholders and before it pays tax, the combination of operating costs, necessary development, necessary exploration and G&A mean that GORO makes a loss. Silver under $23/oz means GORO is a lossmaking mining company, period.
3) At some point the company will have to make the decision to lower its dividend payments, else the depletion of treasury will continue. That’s not opinion, that’s basic mathematics.
4) Mid October will see GORO releasing its 3q13 production numbers, which are unlikely to be anything else but in-line.
As per Friday’s close, GORO is running a market cap of $442m and I doubt it’s worth even half of that, but I’m happy enough in keeping with the $5 downside share price target. That’s a 40% upside to this short position from here and unless silver and gold put in a serious rally, we’ll see $5 printed on this stock. Today’s GORO, especially after that Friday rally, is screaming value at me and there’s perhaps two weeks of window in which to position yourself to the downside.
Oh, we hear that the dumpage today is due to a "big newsletter" sell call. The only surprise on receiving that mail from a contact was to read that there are still big newsletters left out there. And oh yeah, the other thing, we note that GORO is now only 16% down on the day. Well, bet that's a relief for longs.
Are we clear?
continues hereMonday, September 16, 2013WEST PALM BEACH, Fla. (CN) - Liberty Silver sold stocks "at an increased price, pocketing unlawful profits amounting to tens of millions of dollars," investors claim in Federal Court.Lead plaintiff Todd Stanaford sued Liberty Silver Corp., Robert Genovese, Tiffeni Graves, Marnie Markin, Geoffrey Browne, BG Capital Group and Look Back Investments under the Securities Exchange Act."Genovese is believed to have used a pump and dump pattern of stock manipulations in Liberty Silver, as well as in numerous other schemes," the complaint states.Clearly Canadian Brands, Neptune Society, Envoy Communications, Spectrum Sciences & Software, and American Lithium Minerals are just a few of Genovese's other alleged schemes. They are not parties to the lawsuit.Stanaford says the other defendants "should have been known" or did know what Genovese was up to."Genovese is a penny stock promoter and is notorious for operating on the fringes of the financial markets, making millions of dollars by touting penny stocks," the complaint states.
TORONTO, ONTARIO--(Marketwired - Sep 16, 2013) - Liberty Silver Corp. (LSL.TO) ("Liberty" or the "Company") has become aware that the Company and its Chief Executive Officer have been named as defendants in a proposed class action lawsuit filed against Robert Genovese, certain individuals alleged to have collaborated with Mr. Genovese, and an offshore investment firm allegedly controlled by Mr. Genovese. The action contains various claims alleging violations of the United States Securities Exchange Act of 1934 and rules thereunder relating to anomalous trading activity and fluctuations in the Company's share price from August through October 2012. The plaintiff purports to bring suit on behalf of all who purchased or otherwise acquired the Company's common shares from April 1, 2008, through and including October 5, 2012.The complaint was filed in the United States District Court for the Southern District of Florida, and, to the Company's knowledge, neither the Company nor its Chief Executive Officer have yet been served with the complaint.If a complaint is served, Liberty and its Chief Executive Officer intend to fully investigate the complaint and will undertake a vigorous defence.About Liberty Silver Corp.
That's below consensus forecasts of 4.75%. Here's how the 4.5% news fits with the monthlies since 2010:
Trend is obvious, no?
"...Latin America has always been a continent more centre-left than centre-right. You see, the previous and present governments in Latin America, the vast majority are centre-left."
And I left the apostrophe out of that title on purpose.
For obvious reasons, macro-finance fans.
1) You are dumb.
2) You had serious problems with one or both of your parents as a child.
3) You have yet to consider suicide as a viable option.
4) You actively enjoy swallowing human ejaculate, with a marked preference for the ejaculate that comes from people with a lot of money.
5) You want to be rich but recognize your own innate laziness.
6) You have examined the depth of your soul and are aware that when push comes to shove, you do not care in the slightest about the well-being of other people.
7) You know that society owes you nothing and that you owe nothing to society.
8) All of the above.
PS: His wife Nadine got 37% approval because she looks like a guinea pig. The end.