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11/20/17

More on the Torex (TXG) mess

This English language release from the USW does a correct job in outlining the scenario that led to the deaths of two striking workers at the Torex Media Luna / ELG mine in Guerrero province, Mexico, yesterday. It also lays bare the BS that Stanford is trying to peddle about the company being an innocent victim stuck in an inter-union war. Well worth a read. An excerpt:
Like many foreign companies operating in Mexico, Torex reached a deal with one of Mexico’s notorious “protection unions” that don’t legitimately represent workers.
It is common for foreign companies to sign agreements with Mexican protection unions – even before the company begins operating – without the input or knowledge of affected workers. Even long after they’ve been hired, workers often have no idea they actually belong to a union. Such employer protection contracts are illegal in Canada and the U.S. because they violate the most basic rights of citizens. But they remain common in Mexico despite a recent reform of the Mexican Constitution that is supposed to outlaw such corrupt practices.

In the case of Torex Gold’s Media Luna mine, the company struck a deal with Mexico’s largest confederation of protection unions, the Confederación de Trabajadores de México (CTM).

However, in early November workers at the mine went on strike to demand their rights to join a legitimate, democratic union that will defend their interests.

Garibaldi (GGI.v) and New Nadina (NNA.v)

It didn't go unnoticed the way Garibaldi bamboozled the market.

1) Quietly talk up drilling results as they happen. "Hey there, I've heard that..."
2) Get the dumbass end of the mining world vomiting in chatrooms about the "next Voisey's" or whatever other phrase to get the circlejerk underway
3) Release a cherrypicked photo or two. Fapfest
4) Stoke up the tension for weeks. Fappity fappity
5) Run a placement and fill coffers. Ka-Ching!
6) Finally release an assay that doesn't live up to the hype. Oh.


1) Check
2) Check
3) Check
4) In progress
5) In progress
6) Coming soon
7) Coming soon

And what about that price chart?



Yup they're raising $2m at $3.80 as well, check it all out here including the wonderful "Treasure Box" talk. It's 2017 folks, the GGI Model is now all the rage, us old-timers just don't understand and with a whole new bunch of dumbasses with more money than sense telling us how this time is different. Hey there newbies, do yourself a favour before falling in love with your stocks, look up the phrase "cui bono" and think about what it means.

Retail, the crop that never fails.

New lows for Asanko (AKG)

Fully deserved. Will go lower.


UPDATE: Because Canaccord cut its rating, the last of the whorehouses to do so. Remember last year when they were all panning the short argument and telling their flocks to load up? Yup, me too. Shameless bunch of hussies.

Garibaldi Resources (GGI.v): So let me get this straight

A market cap of C$450m+ for "We think we can find the feeder next year". Is that right?

Only in Canada.

UPDATE: Ah, it seems to be worth less than $450m now. Shocker.

Keith Neumeyer should stop masturbating in public

It's embarrassing and eventually it'll get him arrested. My thanks to reader and pal G, who took time out during his flight to the SF show to send over this link. Headline?


Nuff said.

Now there are two of the Torex (TXG) striking miners dead

Shot dead by "community police" in their homes as some sort of warning about the strike action. And if you read the rest of that report, you get a real idea of the clusterfark TXG has on its hands (and how it's of the company's own doing).

A surprise in Chile

Drain The Santiago Swamp.
“The immense majority of analysts were sure Pinera would win in the second round; now we are not taking that for granted,” said Cristobal Bellolio, professor at the Universidad Adolfo Ibanez School of Government. “What appeared to be a done deal is now 50/50.”

11/19/17

Good news and bad news on Tinka Resources (TK.v)

The good news: The Critical Investor exhorts you into Tinka in this new write-up.

The bad news: The Critical Investor is the joker that told you to buy Fiore at $1.10. 

Mind you, he was paid to pump that dog by Giustra. No word on whether he's on the Tinka payroll yet, but you can be damned sure he's asked. Prostitutes are like that.

The IKN Weekly, out now




IKN444 has just been sent to subscribers. Plenty on last week's Colombia Gold Symposium, a new buy, news on the political developments in LatAm, and The Rule.

11/17/17

The Friday OT: Bomba Estereo; Soy yo

Colombia's finest, you can't help but hear this song all over the continent. Cool video too.



Arcade Fire have chosen Bomba Estereo as their opening act on the LatAm leg of its tour in December. They've made a big mistake, the support band is better than the star turn. Youtube here.

Mo´Santacruz (SCZ.v)

Funny coincidence:

1) Santacruz Silver (SCZ.v) gets its Vetagrande mine closed down on November 12th after a snap inspection by Mexican authorities.

2) SCZ says absolutely nothing to the market about this material event.

3) On he evening of November 16th this humble corner of cyberspace notes the events at Vetagrande (and it would have been sooner, just been busy round here).

4) November 17th, less than 24 hours after the IKN post, SCZ finally issues a NR on the closure and informs the market of this material event. Funny that, innit?

That they didn't mention the serious environmental infractions that caused the closedown and tried to pretend in the NR that it's all some paperwork thing is just another example of the way they go about their job.

Zinc One (Z.v): A no-lose trade from Vancouver

With just seven months left on the clock of the scam artist Daniel Ameduri's bet on Zinc One (Z.v), IKN now notes that the whole trade is a no-lose for the world of investment as there are now just two possible outcomes:
1) Zinc One moves up to the CAD$1.30 share price Ameduri promised his shareholders by June 2018, thereby giving us a 210% winner.

2) Zinc One fails to make it to CAD$1.30 and Ameduri keeps his promise by closing down his scam pushing waste of space, Future Money Trends, once and for all. Thereby making the world a better place and ridding the junior market of one more parasite.

And we know Daniel Ameduri is a man of his word and would never try to squirm out of a deal, right?