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NV Gold (NVX.v): A late Friday classic NR

See it. Read it. Believe it.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 27, 2015) - NV Gold Corporation (TSX VENTURE:NVX) (the "Company") announced today that it and its wholly-owned Nevada subsidiary, NV Gold Corporation (USA) (NVX US"), have entered into an Asset Purchase and Sale and Debt Repayment Agreement (the "Agreement") with Mr. John E. Watson, the Company's President and CEO. Under the Agreement:
  1. NVX US will sell its Afgan-Kobeh Property (the "Afgan Property") to Mr. Watson for US$304,626;
  2. the Company will sell the shares and debts of its wholly-owned Swiss subsidiary, SwissGold Exploration AG ("SGE") to Mr. Watson for US$50,000; and
  3. the Company will use all of the proceeds of such sales to repay debts owed to Mr. Watson.

Interestingly, Mr. Watson is currently paid $25,000 per month by NVX.v, but as they don't have any cash to pay him it's just been adding up in the current liabilities column. 

I wonder why?

And as a little cherry on top of this particular cake, Watson's salary was increased this year from $22,500 in 2014. 

Mining Press has the cool photo

Pinto and Benavides, from this note here.

The report is in Spanish (Mining Press is a Chilean/Peruvian publication) but it's also pretty good as a general "what you need to know" about the Minera IRL soap opera. If you're versed in the tongue of Cervantes, it's recommended (and if not there's always Google Translate).

The Friday OT: Led Zeppelin; Kashmir (from Celebration Day live)

From the concert with Jason on drums.

Credit due, they sounded great. I mean, they could have turned up and played acoustic-only versions that a tribute band knocks out and the crowd would have lapped it up, but Led Zep did the reunion at a top notch level.

More crispy ginger beef

Thanks are due to a reader who will remain anonymous for forwarding this mail, sent to a whole bunch of Fasken lawyers and people yesterday evening by "Bill" (who knows them well, it seems):

You must be distraught over how shareholders are being ignored by this board. Perhaps you and your firm could represent the shareholders in a class action to enforce the results of today's vote? Sr. Pinto is in town so you could serve notice tonight over some crispy ginger beef at The Pilot. Oh, wait... 

Laugh it off, d-bag. It's just your career at stake. You could always fail up into government.

Hey Chuck-a-LK, what would happen if someone documented everything you did and started feeding it to all your colleagues and partners? You think they'd come galloping to your rescue? I bet not. All those Osgoode grads worked so hard, you think they're going to let a schiester like you stand in the way of making partner?
We can start with Ruth?

Google it Ruth. Chuck had a good day today at the Minera IRL shareholders EGM. And don't make me send you an lmgtfy link. Ruth, you gotta try the crispy ginger beef. Chuck will make you some. Just ask him.

Not that Chuck gives a damn about what the shareholders voted for or anything. His buddy Hodges got voted out at the last meeting and now he's bitter. Gonna pillage a village in Peru I think. And a mine or two.

You should see all the racist stuff someone had some journalists to write as agit-prop leading up to the meeting. Did Fasken look after that?

How far is Fasken going to let Chuck drag them into this? Let me know. I'm looking for a lawyer myself. Will Fasken accept service? Can they, if they were colluding with the plaintiffs? Will Fasken be a plaintiff? Only time will tell, won't it Chuck-a-LK?

Cheers, Bill

SP Angel on Minera IRL

The Minera IRL Ltd NR on yesterday's clownfest is already out in London (link here), they're bound to put it on MarketWired in about half an hour.

Anyway, here's SP Angel, from this link. As usual, right on the button.

Minera IRL (LON:MIRL) SUSPENDED – EGM adjourned despite Rebels holding >90% of votes, questions over handful of shares
• The chairman yesterday adjourned the Minera EGM.  We are told the adjournment was over potential irregularities over a handful of shares.
• Diego Benavides and his supporters are now forced to wait till the next EGM which can be called at anytime but no later than 17 December.
• Long suffering shareholders must now wait, while the company is effectively paralysed, racking up costs at a time when, we believe >90% of the shares have been cast in support of sacking the entire board.  Do Turkeys every vote for Christmas?  We hope these turkeys get a proper roasting by shareholders when this is all said and done.
• In a further twist:  we are also told that a key shareholder has agreed to buy Rio Tinto’s 19% stake and is seeking to be elected to the board
Conclusion:   Do Turkeys every vote for Christmas?  We hope these turkeys get a proper roasting by shareholders when this is all said and done.
* SP Angel analysts are expressing their own views and opinions in this analysis.  SP Angel has no corporate connection with Minera IRL or its subsidiaries.  SP Angel holds no shares in Minera IRL and does not have any current financial arrangements with the company.


Merry Christmas Chuck

Ho Ho Ho:

The Samarco tailings dam disaster: A video

AJ+ has put together this one minute 39 second video that you have to see. The scale of the disaster that they don't want you to know about up North is starting to come to light.

Here's the AJ Youtube blurb:
Brazil's Doce River has turned orange and is full of dead fish after one of the worst mining disasters in the country's history. The polluted waste contains arsenic, zinc, copper and mercury and has cut off the drinking water of hundreds of thousands of people and left fishermen devastated.

Crispy ginger beef

mmmmmmm....crispy ginger beef.