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This one really is the ballgame at the moment:
And we're now at 11 months and counting with the GSR over 70X, and in all that time the silverbugz have been telling us how much better their metallic fetish is going to be...soon...next week, anytime now...just you wait.
Face facts people, this guy understood more about capital markets than you so.
Those who live in glass houses should not throw stones.
No posts today, kind and esteemed readership of IKN, as there's real world stuff to do this end of the pipe.
Back tomorrow, have a pleasant and relaxing Monday.
I honestly don't know where to begin, but perhaps the first thing is to note the way JFI luckily managed to re-value its biological assets to the tune of $18m in the space of just three months, without adding a single pine cone to their asset, and in that way managed to add a $21m non-cash revenue item to their P+L which allowed them to declare an annual profit of $5.8m.
Or maybe the way they're runninga $47m working cap deficit, with most of that owed to Bobby Genovese and due in August 2016.
Or maybe the way they say they're going to pay back that debt in one of three ways:
1) "the realization of accounts receivable" ($47m...ain't gonna happen)
2) "the realization of accrued receivables" (like i say, it's $47m...ditto)3) "the issuance of capital stock"
And that number three is the only way it's ever going to happen. And that means, yeah you guessed already, a move by JFI to run the mother of dilutive financings so that Bobby G can walk off with his cash intact and leave a new bunch of suckers holding this bag.
Destined for much lower, don't be Bobby G's sucker.
IKN 329 has just been sent to subscribers. It has another piece on the ongoing saga of Minera IRL as main feature, but this time it's not going to be reproduced on the public blog. Because it's too good.
An impressive robbery last night in the city of Juliaca in Peru. A band of thieves entered the city's airport, set off a tear gas canister to waylay guards, then broke into an armoured car and in a matter of minutes made off with an estimated U$1m in USA cash, 9m Peruvian Nuevos Soles in cash (U$2.75m) and 120kg of gold worth around U$4.3m.
...in reverse order:
Third Place: "Minera IRL (IRL.to) (MIRL.L): The liar Daryl Hodges tries the Shiny Bead technique on the locals of Ollachea". We like shiny beads.
Second Place: "Minera IRL (IRL.to) (MIRL.L) Redux (from IKN328)", which was the best thing on the again reduced-service blog this week.
First Place: "And i wudda gotten away with it too if it weren't for you pesky kids and that dawg". which beat out the second place post by a whisker and announced the departure of Mr. Hodges from Minera IRL after he received 91% of shareholder votes against him. It also got a lot of mails from Peruvian readers asking what the title line meant. Ahh that 70s pop culture, what would we do without it?