And it's got nothing to do with the orange haired guy:
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And it's got nothing to do with the orange haired guy:
Music for the rest day of Holy Weekend. Youtube here.
19.2 Concentrate terms
19.2.1 Zinc concentrates
The project is expected to produce approximately 235,000 dmt zinc concentrates on average annually. Based on indicated grades, the zinc concentrates should be suitable for most zinc smelters; however, elevated levels of manganese may result in the imposition of minor penalties for AMI.
184.108.40.206 Commercial terms
For the purposes of project evaluation, the following terms were used in derivation of the zinc concentrate NSRs (all figures in US dollars).
- Zinc: 85% of the Zn content, subject to a minimum deduction of 8 units
- Silver: Deduct 3.0 ozs/dmt and pay for 70% of the balance of Ag content
- Treatment charge: US$210.00/dmt ($190.51/dst)
- Penalties: All inclusive, US$12.60/dmt (Mn - 0.50% free; US$1.50 per dmt for every 0.10% above 0.50%)
19.2.2 Lead concentrates
The project is expected to produce approximately 189,000 dmt lead concentrates on average annually. Based on the expected analysis, the concentrates can be considered ‘clean’, high grade with valuable levels of payable silver and no deleterious elements which might affect their marketability.
"The IKN First Law of Mining News Releases: Considering that anything contained in a mining news release is presented in the best possible way for the company in question, any piece of information contained in a NR that comes across in any way negative means the real news and/or events behind it must be very, very bad indeed."
The Company has also been in discussions with Police Service Northern Ireland regarding further blasting arrangements for the underground mine development. Until those arrangements are in place, the tunnel development is temporarily on hold. The delay is not expected to exceed one month and the Company will advise if the delay is significantly prolonged.
UPDATE post close: We learn the arrogance of the trader who is either...
2) Will be correct in the future.
It's been doing the rounds this morning, it's probably why the stock is off in early trading, your humble scribe passes it on. We already know that K2 Associates were mocked by the Canadian sellside dumbass brigade for their short call on the stock in mid-2016, but we now know K2 called things well and AKG has been a serious underperformer and for all the reasons pointed out by K2. But now it seems AKG may be in more trouble more quickly than even K2 expected, according to today's buzz at least.
The rumoured reason AKG has been so keen on building a stockpile at Nkran in recent quarters is that at some point in 2017 they're going to fake a geotechnical safety issue, say "sorry guys, this has only been discovered and for the good of our employees we must halt normal production", then move production over to the stockpiled material, which will allow them to try (and probably fail) to remedy the fakey high-grading they've done in the last year in order to pretend their mine is so much better than it really is, all under the cover of "unforeseen" circumstances. They will, of course, pat themselves on the back for their foresight in building up the stockpile and being all clever and that.
For an early signal that this is the plan, watch the Q1 and Q2 strip rates as well as any minority use of the stockpile.
Only a company dead set on hoodwinking the stupid would do what they did today. Instead of being granted a real and serious permit, they were given a temporary, 12 month permit that was granted to give strictly limited surface access to their own property and only means they are obliged to make environmental reparations to the shit they've already done to the land there (they even have to deposit U$2m in an escrow account to convince authorities they'll do the repair work). But then comes the magical moment as they the zero-moral scum at NAK spin it to the world of the believe-anything gullibles in junior world that the piece of paper they received is in fact a positive, rather than the reality. It's a de facto fine and news that NAK cannot drill, explore or in any way advance its project. And the market falls for it.
My stars, you junior mining speculators are fucking stupid. And that's what scamsters like the management at NAK rely upon.
The nice man at the computer shop has finally convinced me to upgrade my eight year old HP machine. Which means that instead of lugging around a 5kg brick with a 14" screen and a battery that lasts 90 minutes tops, as from tomorrow I get to play on a supercool thing with a fabbo resolution screen, tons of extra memory and a processor of suitable speed for this modern day and age. It also means no posting until tomorrow, while I wait for all the collective junk in the memory of my old laptop to get transferred to the new one. Enjoy your Wednesday.
I was sitting at the table. We had finished dinner. We are now having dessert. And we had the most beautiful piece of chocolate cake that you have ever seen. And President Bharti was enjoying it. And I was given the message from the generals that the concessions are suspended. What do you do? And we made a determination to do it. So the sell orders were on the way.
The intro to The IKN Weekly IKN412 out Sunday evening had an unusual direction, as your non-goldbug author moved to bullish on the price of gold. Here we are, two days later and gold has broken away from its 1250 anchor. Just lucky i guess...
Gold still lacks US buyers and that’s not a bad thing (from IKN412)We like war! We’re a war like people. We like warbecause we’re good at it. Do you know why we’regood at it? Because we get a lot of practice.George Carlin, 1992I wrote on this subject at the start of last week’s edition and also stuck something on the blog last week, but there’s more to say about the way in which gold is being ignored by the self-appointed Smartest Guys In The Room over on Wall St. We have noticed the way in which gold bullion inventories at GLD, the financial jocks’ preferred method of playing the gold market, have done little else but flat-line over the last few weeks. GLD inventories have been in a tight, 830 metric tonne (mt) to 840mt range for a full month except for one day when they dropped to 825mt and that shows up in the first chart you see below.
But as you also see, I’ve highlighted another time in which GLD holdings did very little recently, the block of time just before and after the Trump inauguration, even though the holdings at that point were rather lower at around the 800mt mark. Why that period interests me is in the second of the chart, that’s the ratio chart I like the GLD inventory/price ratio and the two red boxed periods show when the ratio has traded at the 7.0X level. As scribbled directly on the chart there, the tentative theory is that it denotes a period in which gold gets ignored by the flash financial jocks, bullion goes out of fashion and the higher-speed big money looks for somewhere else to park. And once that’s understood, the implication is clear; these are good times to think about gold because when Wall St comes back to the gold market and starts to buy, it becomes a new cycle of interest for the price and the metal. Once fashionable Gordon Gekko buyers return the ratio goes up (because GLD isn’t the only buyer of gold out there) but so does the price and it’s typical to see the gold price pop jump higher after a sustained period of GLD inaction (e.g. the 4.5% rise in just eight days after the quiet period that ended early February). With gold now nearly at 2017 high close on Friday, even after the pop and drop it got on the Syria/US Jobs news and failure on Friday, it’s not going to take an extra catalyst to get gold up and over at U$1,300/oz any longer. Less than four percent’s worth of move, in fact.So yes, no matter if I’m mocked as A. N. Other goldbug I’ll say it clearly, I’m more bullish about gold’s prospects this weekend than for a while and not because those few showman-type bombs, a measured dose for public flag-waving consumption dropped on some strategically chosen airstrip which now let all sides say things how right they are without anything changing much (at this point I’ll add that although I’m no Trump fan, he should be congratulated for replacing that dubious Flynn guy with the morally upright and undoubtedly smart H.R. McMaster as National Security Adviser, there’s “smart strategy” written all over last week’s action). Do NOT be bullish on gold for geopolitical events and repeat the mantra with me:Geopoliticals have no long-term effect on gold.Geopoliticals have no long-term effect on gold.Geopoliticals have no long-term effect on gold.They might have done before, but the information highway and fly-attention-span news cycle first brought the half-life down to days, now it’s barely more than hours. Remember the very last scene in Peter Weir’s somewhat flawed but still darned wonderful ‘The Truman Show’? The two security guards? Literally the last seconds of the movie? Welcome to 2017. No madam and no sir it’s not the Tomahawks and its not CNN’s shrill, hand-wringing or Fox’s flag-wrapped coverage, it’s the economy stupid because gold has quietly slipped away from its TIPS ratio anchor (that’s still in the ‘New Normal range’) and may be ready to run. My best guess (and it’s only that, a guess) is the holding pattern period is coming to an end so call me a goldbug, I don’t care. To da moon, Alice! Audit Fort Knox! Live Free Or Die!
...the Yamana Gold (YRI.to) (AUY) compensation committee:
Crapstone (CS.to) this morning reported a disappointing set of 1q17 production numbers.
Endeavour Silver (EDR.to) this morning reported a disappointing set of 1q17 production numbers.
Great Panther Silver (GPR.to) this morning reported a disappointing set of 1q17 production numbers.
Mediocrity, like misery, loves company.
"I remain optimistic that we will find a solution that works for the government of Chubut."
"As long as I am governor, mining activity will not be established in any way, shape or form."
UPDATE: It's a measure of the absolute intellectual dumbassery of this abject idiot Ballanger that he thought he could be anonymous on the internet. You have to wonder what century these faded heroes think they're living in.
UPDATE 2: A wonderful, face-saving, lawyer-dodging lie from Tommy H:
Oh c'mon Tommy, admit for once! Both you and I know the truth and the way you decided to mis-spell Michael's last name isn't going to get through any lawsuit. Plain Fact: Michael Ballanger has been slagging off Tinka Resources for months. Not only that, but he's short the stock and in a painful loss-making place since the company saw its project take off and run, so now he's trying any underhanded slimy method that comes to mind in order to con the idiot end of the market out of their shares. Why the two-faced Giustra fellator Humphreys should decide to dox Ballanger and then just hours later go back on his word is an issue you should take up with his paymaster Frankie, not IKN.
IKN412 has just been sent to subscribers, dance to the funky music here.
- Hits hole in one (crowd go wild)
- Picks ball out of hole
- Signs it
- Hands it over to a little kid in the gallery
UPDATE: Ahh, Sergio at last! That's wonderful, and on Seve's birthday too. Two winners, then.