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1/15/18

An IKN Freebie: The weekend's coverage of Wesdome Gold (WDO.to) in The IKN Weekly

As usual in The IKN Weekly published on Sunday evening (issue 452, dated January 14th) we did plenty of things, with one of them a good look at the 4q17 production numbers (as well as preliminary 2018 guidance) as announced by Wesdome Gold Mines (WDO.to) on January 11th. By way of an example of what goes on in The IKN Weekly I've decided to offer the article up as a freebie for anyone interested so if you'd like a copy please send a mail to the usual address...

otto.rock1 (AT) gmail (DOT) com

...with "WDO Report Yes" (or even 'yes please' if you feel so inclined) in the title line and I'll send you over a copy on Wednesday. And rest assured that I won't use your mail address for any other purpose, neither will you be peppered with marketing bumph from me from now until the cows come home because this is IKN, not freakin' Stansberry Research.

The Pan American Silver (PAAS) Navidad project in Chubut, Argentina

A really interesting read on the new move sin politics around the subject, right here.

Hi! My name's Nouriel Roubini

How you doing today? You may remember me from that time in 2005 when I made a prediction about the stock market and then three years later it came true. Well, what I've noticed recently is that a lot of people have been paying attention to other people and not me and that's something we need to fix immediately, don't we?
I'm here to tell you about financial things and what I've done is made some "polemic" comments about Bitcoin and gold on the so-called "Twitter" platform today which should certainly ruffle a few feathers! I called them both scams, pretty daring of me, no?

So have a great day and don't forget to like me. And listen to me more often. And book me on your TV segment (by the way CNBC, since you last phoned I've changed my phone number, so mail me to connect. TIA).

Best wishes, Nouriel.



Hey Nouriel, 26 retweets and 49 likes! Nice job, dude.




B2Gold (BTO.to) prints C$4.00

It's been a while.


Since just after PDAC last year, in fact. What's more, the chart suggests that 4 is an important ceiling level to break through, so a few more pennies this week and we could rush straight to C$4.50. Cool!

This is what i love about technical analysis, by the way: use verbs like "suggest", "seem"  or "indicate", modals like "could", "may" or "might", then make your wild assed call. If it comes in you then toot your horn to the world, if it doesn't you point out that "it was only the chart showing possibilities". And there are people who get paid for publishing this bunkum, bless their hearts.



I was going to do my impersonation...

...of a dumbass gringo CEO who doesn't have the first clue about Latin America, let alone the specific region in which his company operates, doesn't give a flying rat's ass about locals, can't be bothered to find out the true drivers of community culture and instead just wades in like a hundred failed bosses before him, tries to impose his own clumsy corporate culture and ends up with the inevitable disastrous results for company, community and shareholders.

But Fred Stanford of Torex has beaten me to it.

Canaccord opens coverage on Tinka Resources (TK.v) with a $1.00 target

A bit lowball, but it's a start.


1/14/18

The IKN Weekly, out now



IKN452 has just been sent to subscribers. Full of the usual guff and nonsense, I wouldn't bother if I were you.

What, this week's picture? Okay, if you care enough and want an extra clue, but you really had to be there. In the 70's, that is.

Warren Irwin talking sense

You know IKN by now; Cynical, snarky, mean to people, horrid and smelly and it's just not fair, all that jazz. And yeah I do go out of my way to keep the fanboy thing down to a strict minimum (unless it's the Legendary Legend Brent Legend Cook of course) because the last thing the mining industry needs is yet another place where the out-sized egos of the mediocrity in charge of this pathetically run sector get stoked and massaged like waygu beef before becoming tartare in a Michelin 3star.

But there are exceptions to the rule and here's one today. I got sent this link to an interview with Warren Irwin, head honcho of Rousseau Asset Management and published a couple of days ago as the sender thought it was blogworthy and as it turns out, it really is.




It's not about his incessant promoting of NXE either (he loves it, but however good the deposit might be U is the past, not the future), this interview is worth your time for the points he makes about the market, the traps awaiting the greenhorns, the sharks around every corner. All true, all in line with IKN's main message over the years, all done in a far more diplomatic and intelligent tone than this humble corner of cyberspace will ever bother to achieve. So watch this Q&A, it's a good one.

1/13/18

The Novo Resources (NVO.v) circlejerk: An expensive club

On November 2nd 2017  it would have cost you a mere $25 to get the analysis report written by CEO.ca stock touter "Hedgeless Horseman". It must have been a great read because he (I presume, as somebody that arrogant is rarely a she) was "researching Novo Resources 24/7", doing DD and compiling photos. And things. How you NVO longs must have rejoiced, urging new people into the stock or encouraged to add and/or hold onto your winning shares by his deep and meaningful insight. 

Meanwhile, others took advantage and sold into your circlejerk club's belief. NVO was $7.35 at the close of November 2nd and it's now a $3.39 stock, which is a 53.9% loss from pillar to post.


This humble corner of cyberspace has been informed that Hedgeless Horseman is not a qualified geologist, which bring us to a oft-repeated point about such trades and investments that depend on serious technical ability. NVO is one such trade and while reiterating the IKN house position of complete neutrality on this company and its stock price on November 5th 2017 (which was then published on this blog Nov 10th), wrote this:
"For geology, either 1) be a geologist or 2) understand clearly what a geologist is saying to you when she or he opens their mouth before writing things down and publishing them".
Your humble scribe has never been and will never be under any illusions about his lack of ability about rocks. Not so Hedgeless Horseman, who managed to convince himself of superior knowledge, market it as "what the geologists don't know/understand/get", then proceeded to hoodwink the perennial bunch of naive fools who hang around CEO.ca, marvelling at the company they think they're keeping. Plain fact: He has cost both himself and other people a lot of money by not realizing how little he knows on the subject (i.e. enough to be dangerous). That he cost himself a crap-ton of cash due to his hubris is not of the slightest concern, but I know how bad I feel when one of my trades that others follow me into goes wrong and from reliable accounts (i.e. the person who gave me the heads-up about this situation a couple of days ago, somebody rather annoyed about the way in which the whole sordid affair has evolved), there has been zero zip nada contrition from this Hedgeless Horseman character over his top-ticking report, price $25. But hey Bob Moriarty liked his analysis so you NVO True Believers probably feel a lot better just by knowing that. Ah but wait, Moriarty is another non-geol who likes to fake it, too. Birds of a feather, eh...

Bottom line: NVO was a trade. It stopped being a trade when the story changed and as it turned out, that was right here.

The top three most visited IKN posts this week are...

...in reverse order:


Third Place: "More Michael Ballanger lolz". After which, your author once again received pleasant correspondence from Michael Ballanger in which he repeated his totally false claim that I am some type of pederast (to quote the worm's words to me, "Go f__k yourself, child molester" and I only blank out those letters because Google Blogger doesn't like strong swear words any longer). Not the first time he's spouted this nonsense, either.

Shareholders of Gem International may want to note that this person is being nominated as a "highly qualified nominee" by its proxy slate. If you want somebody who makes up fantasy lies about people using extremely serious and totally false criminal accusations, Ballanger is exactly the type of executive you need to run your company.

Second Place: "Peru declares state of emergency in the South region "copper corridor". IKN reports something in English before the rest. IKN gets more hits on the post. Normal.
 
First Place: "B2Gold (BTG) (BTO.to) and Cormark: Four things". Cormark called BTO the "Cream of the Crop" in its note on Wednesday morning, moved it up to a house Top Pick and this humble corner of cyberspace made a handful of comments on their comments. Notably, since then BTO is up 8.1% so their trade has started well enough. This post got a LOT of hits by the way, clearly a lot of interest in this company at the moment.


PS: Just going to stick this here. No real reason.





1/12/18

I wonder why Fiore Gold (F.v) was so keen to bury this NR...

..., published late Friday night to an obscure newswire and SEDAR only, not even put on its own website. Read on:

Fiore Gold Issues Statement About Recent Stock Trading Activity


Vancouver, British Columbia (FSCwire) - FIORE GOLD LTD. (TSXV: F) (OTCQB: FIOGF) (“Fiore” or the “Company”) was made of aware of and requested by the OTC Markets Group, Inc. (“OTC Markets”) to comment on recent trading and promotional activity related to Fiore’s common shares.

Fiore’s common shares commenced trading on the TSX Venture Exchange in Canada, its principal trading market (the “TSXV”), on October 2, 2017, and began quotation in the United States on the OTCQB on November 23, 2017.  Since becoming a public company, Fiore has complied with its reporting requirements in Canada and disclosure requirements of the OTCQB, including press releases and updates on the status of its business and operations at the Pan Mine.  On October 19, 2017, in connection with going public and as part of investor relations activities, Fiore engaged Gold Standard Media, LLC, an independent media company, to provide marketing services with a one-time media campaign.  Other than Gold Standard Media, Fiore has not engaged any third-party investor relations firm.

On January 4, 2018, an independent third-party article was published by E. B. Tucker at The Casey Report, which recommended Fiore and three other mining companies, which Fiore believes led to increased interest and trading activity in each of the companies’ securities recommended in the article.  Fiore believes that there is a correlation between the timing of The Casey Report and increased trading activity of Fiore’s common shares on the OTCQB.  Fiore became aware of The Casey Report after it was published on January 4, 2018.  The Casey Report is an independent third-party, subscription based report and is not affiliated with Fiore or Gold Standard Media.  Although Fiore’s Chief Executive Officer responded to an interview request from The Casey Report on October 3, 2017, as part of ordinary course investor relations, Fiore has no relationship with E. B. Tucker or The Casey Report, Fiore was not aware that it would be included in the article and Fiore did not pay to be included in the article.  Gold Standard Media confirmed to Fiore that it had no knowledge that Fiore would be included in the article.  The Casey Report states that its writers are prohibited from owning or having an interest in any security that they recommend to readers and we have no basis to doubt their representation.

On January 6, 2018, Gold Standard Media commenced a one-time media campaign that included a series of interviews with Fiore’s CEO and one of its advisors, written materials containing information from Fiore’s public filings, creation of a website landing page and a distribution that included a link to the landing page.  Gold Standard Media prepared the materials used in the media campaign solely from Fiore’s public filings and maintained editorial control over content.  Fiore review of the materials was limited to confirmation of factual matters only.  Gold Standard Media confirmed to the Company that other than its own materials, Gold Standard Media has not, directly or indirectly, paid any third party to create or distribute The Casey Report or any other promotional materials.

On January 8, 2018, Fiore issued two positive press releases announcing November gold production results, the operational status of the Phase II leach pad and the appointment of Ross MacLean as Fiore’s Chief Operating Officer.

On January 10, 2018, Fiore was informed by OTC Markets that following publication of The Casey Report and increases in trading volume, other third-parties published promotional materials mentioning or featuring Fiore, which included price targets, encouraging investors to watchlist Fiore’s common shares and initiation of research coverage.  These promotional materials were not authorized, reviewed or distributed by the Company or Gold Standard Media.  Instead, it appears that these materials were distributed following increased trading volume, The Casey Report, Gold Standard Media’s campaign and Fiore’s January 8, 2018 press releases.   Although Fiore observed a correlation between trading volume and the publication of The Casey Report, Fiore cannot predict if these other third-party promotional materials affected trading activity in Fiore’s common shares.  The Company had no advance notice or communications with the sources of these promotional activities.

After inquiry, Fiore confirmed that its officers, directors and, to its knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) and third-party service providers have not, directly or indirectly, authorized or been involved in any way (including payment to a third-party) with the creation or distribution of promotional materials regarding Fiore or its securities, outside of those produced by Gold Standard Media.

OTC Markets requested that Fiore confirm transactions by any officer, director, controlling shareholder (defined as owning 10% or more of the outstanding stock), and any third- party service providers in Fiore’s securities during the past 90 days.  After inquiry, the Company has determined that officers, directors, and to the best of its knowledge, its controlling shareholders have not sold or purchased the Company’s securities within the past 90 days.   As disclosed in the Company’s press release dated December 22, 2018, the Company granted options to a new Director exercisable into common shares of Fiore at C$0.75, the closing price on the TSX Venture Exchange (“TSXV”) December 21, 2017, which was also the date of grant.  To the best of Fiore’s knowledge, none of Fiore’s other third-party service providers have sold or purchased Fiore’s securities within the past 90 days, except that between October 31 and December 28, 2017, certain third-party financial advisors purchased 876,700 and sold 12,280 Fiore common shares, and purchased 100,000 Fiore common shares on January 8, 2018.  Gold Standard Media confirmed that they do not own and have not owned any Fiore common shares and they have not purchased or sold Fiore securities during the previous 90 days.

In accordance with TSXV policies, Fiore has not issued shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.

The Casey Report and the unauthorized promotional materials brought to Fiore’s attention by OTC Markets contain promotional language, including opinions on stock price targets, recommendations and views that are the opinion of the authors.   Although the promotional materials reviewed by Fiore management do not appear to be materially false or misleading, they contain promotional language and  are not endorsed by Fiore or its management.  Investors should not place undue reliance on information contained in these materials.  Fiore does not provide future share price guidance or endorse target guidance.  Fiore encourages those interested in Fiore to rely solely on information included in its press releases combined with its filings and disclosures made with OTC Markets and with Canadian securities authorities on SEDAR (www.sedar.com).

Fiore routinely responds to inquiries from shareholders, potential investors and investment analysts and prepares its own investor relations materials.  As such, Fiore urges its shareholder base and followers to review Fiore’s website and its filings on SEDAR.  Any investor seeking to verify whether a publication was disseminated by Fiore can email info@fioregold.com.

Corporate Strategy

Fiore’s goal is to build on the existing operations at our Pan Mine in Nevada to become a 150,000 ounce/year gold producer. To achieve this, we intend to:

  • grow gold production at the Pan Mine from a planned 35-40,000 ounces in fiscal 2018 to between 40-50,000 ounces per year by fiscal 2019

  • advance exploration and development of the nearby Gold Rock project, with a resource update planned for late 2018

  • acquire additional production or near-production assets in Nevada and surrounding states

On behalf of FIORE GOLD LTD.
"Tim Warman"
Chief Executive Officer

The Friday OT: Motörhead; Overkill

Fast Eddie has joined Phil and Lemmy in the great gig in the sky. 



Rock In Peace, Mr. Clarke. This from the live album Rolling Stone voted as one of the top 50 of all time, No Sleep Til Hammersmith. The band at its absolute peak and now they're all gone. Youtube here.