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Things will be relatively quiet on this blog for the next two days

For secret reasons.

Great to see Red Eagle Mining's ( money problems are over

How else would they have the width for this, right?


Pretium (PVG) 4q17: Hello Strathcona

The market is going to make love up the bottom of PVG this morning on the back of this 4q17 production NR, just 70,281 oz gold produced. But the really nasty bit is this:
Grade reconciliation to the reserve model for the period August 1, 2017 to December 31, 2017 was approximately 75% to 80%. 

And did you notice how PVG "forgot" to mention the average head grade in that NR? Well let IKN help because by using the grade, tonnage thoughput and gold production data given we can math it out: It's 8.40445 grams per tonne. And that's a big fat miss.

UPDATE, afternoon: 27% down and counting. Yep, loving right up the bottom.

An interesting article on the poor state of community relations at the Las Bambas copper mine

Right here. If you don't Españolerize, stick it through Google Translate.


Good quarter from Atico (ATY.v)

A chart:

Argentina and the Chubut mining detente: Good for PAAS and Navidad (from IKN453)

You're going to have to be selective, as the sudden thawing in anti-mining attitude in the province of Chubut in Argentina willnot apply to those projects to the West near the Andean Cordillera. However, those in the C-Suite at Pan American Silver (PAAS) must be more optimistic about Navidad's chances than they've been in years. The following a segment from IKN453, out Sunday evening.

Argentina: There’s a chance for Navidad in Chubut
Much to my own surprise, there’s a sudden thawing to the idea of mining in the Chubut province of Argentina and if things go well for the national government’s argument, the principal beneficiary will be the Navidad silver/zinc/lead project owned by Pan American Silver (PAAS). 

The reason for this potential détente is new governor Mariano Arcioni, who in the last two weeks has made noises (21) about being open to the idea of a “debate about mining” in the province, as well as suggesting that the province’s legislature look into the possibility of modifying the current law on mining in the region (specifically, law 5,001 Article 2 to which we’ll get in a moment). And according to the very interesting article I stuck up on the blog last week (22) this all started when Arcioni went to Buenos Aires in his first trip as governor (after the death of Mario das Neves) along with nearly all other provincial governors. At the lunch they had, President Macri made a point of sitting next to Arcioni and, according to that report, at one point whispered to him “I want Navidad”, a clear reference to the PAAS project (and while we’re here, note that Ross Beaty and Mauricio Macri are personal friends…helps).

This conversation has continued since then between the two and now we have a governor who wants the matter to go to a public debate and even a referendum. The problem with the Chubut law is that there is a clear majority against mining and therefore changing the law for the whole province, but now Arcioni is proposing a get-around using the idea of “Zonification”. In essence simple, he proposes that each region inside Chubut decide whether they want or do not want mining in their area. This is good news for Navidad, because though the larger population centres to the Atlantic East coast and the Andean Cordillera West are firmly against mining activity (e.g. Yamana at Suyai still doesn’t stand a chance, neither do those silly uranium project pumpers like UWE.v, see the Esquel political declarations about how “mining would be unthinkable” in our area right here (23)) the central plateau region wants (as a majority) the Navidad project to happen (jobs, activity, growth etc). Therefore if (repeat IF) Chubut has some sort of vote and law change to allow mining to happen in specific zones, PAAS will be very happy.

This is by no means a done deal yet, for one thing the anti-mining groups in Chubut are already saying that it’s not just the law that has to change but the provincial constitution (a tougher one), but there’s certainly a crack in the door here.

Congratulations to Garibaldi Resources (GGI.v)...

...for managing to get to ONE HUNDRED AND TWO DAYS  without releasing the results on the drill assays they're sitting on. An excellent achievement, ladies and gentlemen, your mothers will be proud.

Tahoe Resources (TAHO) ( The Regional Health Authority at Shahuindo tells people to evacuate the area

A most interesting video right here from Peru's official government regional health directorate (Dirección Regional de Salud, normally known as DIRESA) regarding last week's spill at the Tahoe Resources (TAHO) ( Shahuindo mine in Cajamarca, Peru. Despite TAHO's best efforts to whitewash the story, the health authority is now telling locals around the mine and particularly those just below it to evacuate the area due to the health risk of chemicals in the mud from the mine. Also, in the video the regional director DIRESA tells locals that the mud is "probably contaminated" and that there's a strong smell coming from the mud that leads them to presume there are chemical substances in it. Meanwhile, if your Spanish leaves a little to be desired there's also a lot of footage of the flooded zone, crop fields covered in the run-off mud and affected local populations, etc.

It's also interesting to note that TAHO refused entry to the mine to local authorities and also the the National Water Agency (ANA) last week when they tried to get samples from the overflow. 

Brent Cook versus Daniel Cambone, a Q&A video from VRIC

Right here.

Legendary legend, Brent Legend Cook, talks his book and bores the pants off everybody as usual. Likes zinc, starting to like lithium, Tinka gets a pump, Advantage gets a pump, Evrim too. We like the marijuana comment, too: "Personally....(pause)...I know it....(pause)...". As for gold, it'll do "reasonably well" according to the legendary legend.

A Flash update...

...has just been sent to subscribers, Monday morning pre-opening bell. Moving some chips around the table.


The IKN Weekly, out now


IKN453 has just been sent to subscribers. Another 15,000 words of guff and nonsense from the pathetic loser Otto that all GGI longs would do bets to ignore.

The top three most visited IKN posts this week are... reverse order:

Third Place: "Goldcorp (GG) goes Blockchain". Want proof that just using the word "blockchain" gets people's attention these days? Here it is. A semi-nothing post stuck together in three minutes, a boatload of hits.

Second Place: "Tahoe Resources (TAHO) ( A serious pollution incident in Peru". There was more info on this in the follow-up post here, plus there's more in today's Weekly, subbers. It beggars belief that TAHO thinks it can get away with this just by emitting a sophist's delight of a news release, their troubles have only just begun at Shahuindo.
First Place: "The word in Lima: PPK will resign in February". It got picked up on Facebook in Peru and received a semi-viral number of hits, which is neither here nor there but it's still the most visited post of the week and therefore at number one spot. I haven't answered any of the mails received from Peruvians on the subject either, if they want to know more they shouldn't ask me anyway. They should ask Teofilo Gamarra, the Fuji guy who's conducting the secret talks with Martin Vizcarra.