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2/26/15

Nisman's prosecution case against President Cristina Fernández de Kirchner is thrown out

The news from Argentina today is that the case prepared by now dead prosecutor Alberto Nisman against President CFK and members of her government has been thrown out by a judge, who stated there wasn't a shred of solid evidence worthy of bringing the case to court.

In light of today's development, this humble corner of cyberspace, which has been respectfully quiet while all sorts of conspiracy theories have been bandied about the intewebs, repeats its "logical and cogent suicide thesis for Alberto Nisman" that dates from one month ago, Jan 25th:

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  • There was some sort of emergency that got him to cut short his vacation with his daughter in Europe, hand over her charge to his ex-wife and bring him quickly back to Argentina in the days before his death.
  • He was due to give evidence to support his accusations against the CFK government the day after his death, but his dossier had already been deposed and opened to authorities and judiciary (its contents are now being revealed, striptease-style, to the general public). As soon as it was available (three or four days before his death) there was immediate pushback from both pro-government and (relatively) neutral bodies who spotted false information and obvious contradictions in his version of events. One that's been widely reported is how Nisman claimed he had been given key evidence about supposed intelligence officers, but in fact (and in proven fact now) those people are not and have never been members of the intelligence services.
  • So, let us imagine you have a less than perfect personal life. Let's also imagine you've been working under great pressure, in terms of workload and of psychological pressure from government enemies, for two years on a case you think shows major corruption in your current government (up to and including the President of your country). Let's imagine that things come to a head, you complete your work, you're satisfied with your job done, you hand in this national-level important case file...and then suddenly the whole thing blows up in your face because one of the most basic elements on which you based your argument is shown, with very little room for error, to be false. That, ladies and gentlemen, is years of work down the drain.
  • And on top of that, in one day's time you have to go to the nation's Congress, stand up and defend your case and reiterate your accusations when you already know that the ground has been taken from under your feet and when the opponents ask you about the contradictions, you're going to flounder and fail in front of them. And your personal life is a mess.
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I'm still not saying the above Is. What. Happened. But it still fits, which is a lot more than you can say about the vast majority of the evidence-free conspiracy theories around Nisman's death.

Banksy, Gaza, Kitten

On this link are pictures of four new pieces of work done by Banksy in Gaza. And this...



...ranks up with his best ever. Jeff Koons eat your heart out.

Gary T getting a little more bullish on gold, it seems

Gary over at Biiwii isn't your average chartist, that's because he has a brain and knows how to use it. He's not your permabull rah-rah goldbug and will give a bearish message straight up and undiluted if he sees it that way. He's not afraid of calling gold higher either, so put those together and he's a fine example of the type of attitude that fanboys and cheerleader gurus, both bear and bull, cannot handle. In short he's smart and honest, so when he starts getting warmer about gold's chances on the charts I pay close attention.

Check out his post today, "Okay gold bugs, the time is now". Well worth your eyeballs this morning.

Great Panther (GPL) (GPR.to) to buy Cangold (CLD.v): Err, call me stupid but...

...I'm sure there are laws against this kind of thing.

1) Great Panther is a CAD$0.75 stock.
2) Cangold (CLD.v) is a 5c stock. Not only that but it's currently at its lowest price ever.
3) That makes 1 GPR share worth 15 CLD shares, if my pocket calculator is working correctly today.
4) According to the terms of this deal, GPR issues one new share for every 20 CLD shares.
5) And here's the rub: These companies have three directors in common (yup, three; count 'em up girls and boys) 

It's tough to pick out the highlight of this NR, but I'm going to go for this phrase...
"The Letter Agreement and the Loan were reviewed and approved by special committees consisting of independent directors of both Great Panther and Cangold."
....due to the sheer brass neck of it. Independent? Fucking liars. One of the central tenets of public companies is the fiduciary duty that a board of directors must have towards its shareholders. But Kaare Foy, Robert Archer and their cronies are too busy trying to stuff their own pockets to give a rat's ass about the minor details of things like morals or rules.

UPDATE: All the above was pre-open today, now it's post close and here's how Cangold (CLD.v) traded today:


  • CLD.v is down 20% today on 1m+ volume.
  • It's also down 33% from midday yesterday (ohhh, you mean somebody knew about the deal yesterday morning and deci...nah! Surely not!)
  • And all while Great Panther (GPR.to) remained unchanged today.

Let that sink in: Big company makes a buyout offer for small company and as a result, small company drops 20%. If ever shareholders in Vancouver needed help from the BCSC for once, instead of just watching those toothless Canadian regulatory lackeys do nothing yet again while the retail investment community gets intercourse love up the anal tract from the crooks running juniors, it's today.

Copper: Happy New Year

It's the first real day of trading in China after the New Year festivities and...


...our oriental cousins are buyers.



Nevada Copper (NCU.to) drills 96 feet of tunnel at 5.9 feet per day

That's what this morning's NR...
Nevada Copper (NCU.to) drills 96 feet of tunnel at 5.9 feet per dayVANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 26, 2015) - Nevada Copper Corp. (NCU.TO) ("Nevada Copper" or the "Company") is pleased to announce that it achieved a major milestone at its Pumpkin Hollow project by way of reaching the 1,900 foot main haulage level at its 24-foot diameter concrete-lined production sized shaft. continues here
...coupled with the last update on February 10th, implies. At this rate they could get this tunnel finished by March end after all. And with copper at $2.70/lb this morning, they might be able to break even on operations too. Winning.

2/25/15

Guerrero political risk update: Nyrstar news on February 18th and February 25th

On Feb 18th IKN brought you this:
Mining Company Faces Blackmail in Guerrero 
Since November 13th last year a syndicate of transport workers has been blockading the entrances to the Campo Morado mine in Guerrero, property of the Belgian mining  company Nyrstar.

And today Feb 25th, one week later, Nyrstar brings you this:
25 February 2015  Nyrstar NV ("Nyrstar" or the "Company") today announced that mining and milling activities at its Campo Morado mine located in the Mexican state of Guerrero have been temporarily suspended as a precaution due to deteriorating security in the state.

And all that to heap on top of Torex Gold (TXG.to) and its fun and games in Guerrero this year. But hey! Why not be contrarian? Why not be like Timmins Gold (TGD (TMM.to) and its bossman Bruce B? Why not buy into the Guerrero region instead of avoiding it?


Oh yeah, that why not.

I have a question about True Gold (TGM.v) at Karma

As of February 18th, True Gold (TGM.v) laid off 450 workers for a period of three months. Here's the press release that was published in French in Burkina Faso on the development on Sunday Feb 22nd. However, if you check over at the company website you'll see that the last news from TGM.v was on January 29th, at which point they were "in discussions", they were looking to resume construction and, in the words of TGM had honcho Mark O'Dea, "As soon as we can provide a definitive update on the timeline, we will".

So the question: Why did TGM.v tell the stakeholders in Burkina Faso about this, but decided not to tell the stakeholders who have invested in the company via the Canadian capital markets? I mean, isn't laying off your workers for three months kind of material? Seems to me there's more than a little mushroom politics about this.


PS: The other thing about the Burkina Faso only press release last Sunday. At the end it says...
Nous demandons respectueusement aux autorités et à toutes les parties prenantes de bien vouloir nous rencontrer dès que possible pour avancer le dialogue.
...which sure looks to me like there's been a big stoppage in the discussions recently. That's not the impression TGM.v has been giving to people outside of Burkina Faso.