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6/3/17

Six people dead...

...and the three sub-humans responsible for the attack in London tonight are also dead. Six dead is six too many of course, but I strongly suspect that in the hours ahead we're going to find out that British police were nothing short of heroic and their prompt actions saved countless more lives.

UPDATE Sunday: Make that seven. Here's hoping that numbers sticks.

Real Madrid

I'm not a Real Madrid fan and never will be, but I am a football fan so this needs to be stated: Real Madrid were absolutely sensational in the second half of the Champion's League final today, the Juventus defence is generally regarded as the best in the world right now and The Merengues just tore it apart. All played well, but outstanding performances from Modric, Kroos, Marcelo, Carvajal and of course CR7. Juve have the consolation prize of just about the best goal I've seen scored in a final but all applause to Real Madrid, superb football, deserved winners, the best team in the world this year no doubt.

How the Cannabis Wheaton (CBW.v) placement collapsed

There was a meeting at Eight Capital between all the partners except for two of the main scammers in this sordid deal, Eight Capital's Sferra and Attanasio. As we know, Sferra has multi-millions of shares of Cannabis Wheaton (CBW.v) and is one of the ringleaders but perhaps the worst of the lot is Mark Attanasio, who also holds many many millions of shares of this scam dog but is also supposedly the gatekeeper of the deal (hello Canadian regulators, do you know what this means? Why is this person still allowed to play cap mkts in your country?).

So anyway, these two jokers get excluded from the meeting and it's only then that the rest of the 8Cap people found out there was all this seed stock of CBW in the hands of a very few people, i.e. Sferra and Attanasio but also Hugo Alves of Bennett Jones and Graham Saunders of Canaccord (and remember, it's Canaccord co-leading this placement with Eight Capital...oh how we laughed). Once they found this out, the compliance officer at Eight Capital told them to pull out immediately. Once that happened, Canaccord had no option than to pull out of the deal too. Of course, Rifici is now desperately trying to find another way to float this deal via another entity or just via Saunders at Canaccord. We'll find out on Monday how wonderfully it's all going.

A final snippet of wonderful: Dear Bennett Jones, did you know that Hugo Alves has been swanning around telling people he plans to resign from your company and join CBW full-time soon? What, you other partners have not been informed about this yet? Well in that case IKN strongly suggests that you have a little chat with your partner when he turns up on Monday morning (or perhaps midday, he may be suffering from a hangover).


6/2/17

The Cannabis Wheaton (CBW.v) scam is falling apart

Word reaches this humble corner of cyberspace that the two brokers who were going to put the book together on the $80m placement for CBW.v have seen reason, looked a little more closely at the company and its assets and...they've walked.

There's no placement. Dead deal. No money being raised. No soup for you, scamsters.

Now, you have to wonder how that Graham guy in Canaccord with his multi-millions of shares is going to do in order to change them into money. Sell on the open market now, Graham?? Hmm..what about you Hugo? Going to rush for the door before Graham, or Sferra and his large chunks?

IKN predicts: CBW will be a fun stock to watch on Monday. Poor retail won't know what hit 'em.

Disclosure: No position whatsoever in CBW.v, not long not short not nothing, never had one and never will.

The Friday OT: Annie Lennox; Don't let it bring you down

Earlier this week I found myself flicking through the channels late in the evening when...OH!, the last hour of American Beauty! A piece of its age (released late 1999) that's stood the test of time, not least due to the magnificent Annette Bening, Kevin Spacey and all the cast under Sam Mendes. You also get this, Annie Lennox's voice and Neil Young's tune couldn't be a better match for the entry to the final sequences.



And then you get the best last six minutes of any movie ever.

Beautiful song too. Youtube here.

Choose Life. Choose GDXJ rebalance. Choose Macro Tourist.

An informative and fun post on the upcoming GDXJ rebalance and what it's been doing to component stocks over at The Macro Tourist today. Nice graphics too. Click here and enjoy.

The Arubis copper monthly letter for June is out...

...today and if you're into the metal it's one of the better free things you can read. A good overview on copper's macro situation, supply and demand and whatnot. Click here to read it and while you're over there, do like I did a couple of years ago and sign up for the free e-mail service.

A gold chart

Gold will break U$1,300/oz next week.

 
And if it doesn't, I'll have a really great excuse that makes me sound even smarter.


And why the hell not? Frank Holmes has made a career out of doing exactly this. He's way smarter than you, you're the dumbass who keeps listening to him.

Rye Patch Gold (RPM.v) buries the lede...

...but IKN comes to your rescue. Here's the thing that really matters in its NR today, the one with the cool "Rye Patch Reports Gold Production" headline and the 3,094oz gold poured. It comes right at the bottom of the NR.

"Progressing toward commercial production in Q3"


A quick Ottotrans for you: "We were operating at a loss in May. We are operating at a loss in June. We will be operating at a loss in July, possibly August and September, too." That $5m from the sale of the Rochester royalty won't last long, these guys will run that placement soon.




Fake news

Cannot be true. Numbers not bigly.


6/1/17

In The IKN Weekly this weekend

There will be plenty more, but this has got my mind. One of our covered stocks returned a set of numbers this week that were simply spectacular. And nobody noticed. And that's just the way I love my junior stocks. Full details on Sunday, subbers.

Three facts about Bennett Jones and Cannabis Wheaton (CBW.v)

Bennett Jones is the firm of lawyers representing Cannabis Wheaton (CBW.v).

Bennett Jones has been very aggressive in trying to close down any form of dissent against this obvious scam. It is doing so in the time-honoured method of legal bullying and threats of litigation against anyone who might dare tell the truth about this zero worth shell game.

Hugo Alves, partner at Bennett Jones, owns 17m shares and 17m warrants that were bought for 1.5c each in the original seed round offering.

Primero (PPP) (P.to) and the long dark teatime of the soul

On May 3rd, when reporting its 1q17, we had this from Primero Mining (PPP) (P.to):

"The first quarter of 2017 marked a turning point for Primero," said Mr. Joseph F. Conway, Interim President and Chief Executive Officer.


So, how's that Hopey Changey thing workin' out for y'all?


PS: By the way, Makuch over at Kirkland wants to buy Black Fox but can't get the deal done, because they need somebody else to take on San Dimas and that other waste of concession payments, Cerro de Gallo. Unsurprisingly, Makuch can't find anyone to buy the Mexico end of the gig because most mining CEOs don't take industrial strength psychotropic drugs and they don't want to be fired,

Sandstorm warrants

Before the game is afoot, thou still let'st slip. Check out the action in Sandstorm Gold warrants:



In the last couple of days SSL-WT.to is up a very lot on the biggest volume spike they've seen in a year and...at the same time the SAND stock price has hardly moved. 


H/T A. Reader.

Muddy Waters. Kerrisdale. Northern Dynasty. Asanko.

Since the news yesterday that Muddy Waters (Carson Block) is shorting Asanko Gold (AKG) there has been much ink spilled on the news, for against and whatever. But one thing that got me thinking was the last recent headliner mining short and how it compares to this one. Remember back on February 14th when Kerrisdale Capital unveiled its short position on Northern Dynasty? Back at the time, NAK was a $3.20 stock and it's now half of that, so Kerrisdale have done well with their position (assuming they haven't covered already of course) but what we can note in hindsight is that Muddy Waters didn't join in on the short (which would have been perfectly feasible, these shorties tend to hunt in packs). And hindsight includes the fact that Muddy Waters is obviously interested in the mining space and in the opportunities to short in the Canadian cap mkts (they said exactly that on BNN yesterday).

So why didn't Muddy Waters join in the NAK short but went for Asanko instead? This is why:



AKG makes no money on operations. Neither does NAK of course, being an exploreco, but what NAK doesn't have is $155m of financial debt on its books that needs payback as from July 2018 in ten happy tranches (of about $16.2m each on average once the 7% floor interest is considered). Both NAK and AKG are mediocre companies, only one of them is in real financial trouble. The Kerrisdale short on NAK worked as far as it went, but NAK will be able to spin out its story for years on end (because those self-servers at NDI HDI are like that) and the stock isn't going to zero. AKG, on the other hand, is correctly identified by Muddy Waters with the real potential to go to zero. That's what debt does to you. Ask Great Basin Gold.

Dalradian (DNA.to) buys the 2% NSR on Curraghinalt...

...for around U$18m worth of stock, according to the seller right here.

Expensive.

It's Odebrecht day

Today, June 1st, is the day that the confessions of the Odebrecht crew, led by Marcelo Odebrecht himself, are sent from Brazil to the legal powers and courts of the Latin American countries involved in the bribery and corruption scandal to end them all. Although the documents aren't supposed to be made public immediately (each country's judiciary wants time to build cases against the people named) it wouldn't be a big surprise to get the leaks starting almost immediately and there are a lot of politicos up and down the region quaking in their boots. Quite right too, the scumbags.

Let the games begin.

5/31/17

An interesting news release from Cannabis Wheaton (CBW.v) today...

...which includes this passage:

It has come to the company's attention that deliberately false and inaccurate information about the company is being disseminated on-line by or at the direction of parties attempting to discredit the company. The company and its legal advisers are currently investigating the matter and intend to take any steps necessary or appropriate to address the situation. To the extent such parties are ultimately found to be regulated market participants, the company's legal counsel plans to be in contact with the relevant regulator(s) in order to attempt to hold such parties accountable for their actions and to prevent such misinformation from being disseminated in the future by such parties.

NR here. Well, whatever the BSsers running this shell game scheme are referring to, it can't be the IKN post yesterday that revealed the RCMP is looking into the company, because that's 100% dead-set true. As many a scamster junior has learned over the years, IKN Kung Fu is strong.

It's also worth mentioning something that your humble scribe has noted over the years; it's always the dregs of Canadian capital markets and the worst of its scumbags* who will race immediately to their lawyers when somebody reveals truths about them. Cockroaches don't like sunlight.

UPDATE: These scumbags are hilarious. IKN hears from multiple sources that the lawyers representing CBW, Bennett Jones, have sent out letters to various people in the Canadian cap mkts community trying to scare them into shutting up and not divulging the truth about their worthless comapny. Bennett Jones obviously doesn't know who is telling the truth about Cannabis Wheaton yet because they're using a scattergun approach and mailing anyone and everyone they can find who might have said something about them. This is exactly the type of Modus Operandi used by scamsters and market bullies. For the record, IKN hasn't received its mail yet but when it arrives, I'll stick it up here on the blog for everyone to see.

UPDATE 2: Hi Bennett Jones! Hi Alan Gardner! Have a great day, spend quality time with your children this weekend.



And a special hello to Steve Mantzouranis of Cannacord. Thanks for the tip-off, man.

*and my stars there's competition

Bloomie: Hedge funds move back into gold

Your humble scribe does not have a Bloomie terminal, but friends do and one of them just sent in this screenshot:



I'm sure the whole story will be on open web Boomberg later. The chart won't be, though.

Muddy Waters shorts Asanko (AKG)

Which is interesting, of course. Plenty of comments in my mailbox this morning about the appearance of Carson Block (MW head honcho) on BNN TV and, of course, you can read the MW position on AKG at its website. Everybody knows the IKN position on this company and how we've followed the K2Assoc short position. The way the K2 forecasts and especially the timing of them have turned out to be accurate has been impressive. All fine and good, but I'll leave it to reader "S" for a more insightful mailbox comment:

"...look at the difference between when AKG was halted in the US VS Canada. If you were a Canadian retail investor trying to sell you stock and didn't have access to the US markets like the institutional investors do, it would kind of suck."

Absolutely. Just another example to show how retail (esp Canadian) gets reamed on this non-level playing field.

Arizona Silver (AZS.v)

The newsletters pump.



The reality dump.

5/30/17

Ask Cannabis Wheaton (CBW.v) about the RCMP investigation...

...into them and their company and they will answer that they are not in a position to confirm or deny anything. That's because the RCMP is investigating them, have had various exchanges and interviews with the company already and the investigation is ongoing. Now, what part of the CBW finances is so interesting to the Mounties, that would be a far more interesting to know.

Catching up with CIBC's coverage of Asanko Gold (AKG) (AKG.to)

On February 26th 2017, Jeff Killeen of CIBC did his best to assuage any niggling doubts that may have been forming in the minds of those clients he and his firm has guided into Asanko gold (AKG) (AKG.to) by saying:
"Although concerns may remain, we see limited downside for AKG shares in the near term in light of the recent ~20% decline..."

On that date, AKG was a CAD$4.00 stock. So let's see how things have got on since then:


Hmmm, CAD$2.59, down 27% (and the Gold/Silver index flat over the period). Looking forward to your next update on AKG, Jeff.




Eat pineapple in remembrance

Manuel Noriega is dead. RIP.

K92 Mining: Good news for the KNTs on board.

The news today from junior mining's very own Derek and Clive company, K92 Mining (KNT.v), is good for the board of directors and therefore for all stakeholders, of course. The company held its AGM and we are pleased to report that every single KNT on the board was re-elected. Head KNT and Chairman Tookie Angus was re-elected. Ian Stalker, the KNT of a CEO, was re-elected. Bryan Slusarchuk is the KNT president and he was re-elected too. Add to the approved list the other four KNT directors John Lewins, Mark Eaton, Saurabh Handa and Graham Wheelock. In fact every single KNT on the board was voted back in.

Good news for all the KNTs, in fact.

5/28/17

The IKN Weekly, out now




IKN419 has just been sent to subscribers. A good copper producer, another copper producer that's not so good, thoughts on zinc and gold, why Argentina is misunderstood up there. Those and more.

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

...in reverse order:

Third Place: "Sibanye Gold (SBGL) and that rights offering (from IKN418)". Apart from the small and ultimately unimportant math error, all good.

Second Place: "Advice for Komet Resources (KMT.v): For extra giggles, next time use millimetres". It made me laugh, too (and I know it's poor form to laugh at your own jokes, I don't care).
 
First Place: "Gold drifts". Have you ever noticed how the gold analysis community seems set in hype mode 24/7 and must always scream about how gold's about to rocket higher or dump lower? Yup me too, so it was nice to see a post that says little else than "well folks, gold's not been doing much recently" get popular. Goldbug dumbass writers attract goldbug dumbasses, meanwhile IKN attempts to treat its audience like adults.