Subscribe via email, get all daily posts sent to you next day (and without all the annoying ads)


Sheldon's bonuses

Thanks to reader MB, these fun little datapoints reach IKN Nerve Centre™

Now is that cool data or what? Thanks MB.

Yes indeed, Sheldon raped his vehicle by that amount in 2011, including a $1m salary, $32.2m in cash bonus (seriously) and the rest in options. Hey, I wonder if he'll hand any of that money back in order to get his company through the hard times?

This Thing Isn't like That Thing, Burkina Faso edition

This thing:

Interest in Burkina Faso's resource potential continues to grow with 7 producing gold mines built since 2007 ranking it 4th amongst the African nations, and it is now attracting the interest of mining companies because it is a politically stable democracy with good infrastructure.

That thing:

Protesters angry at plans to allow Burkina Faso's President Blaise Compaore to extend his 27-year-rule have set fire to parliament.
Correspondents say the city hall and ruling party headquarters are also in flames.
A huge crowd is surging towards the presidential palace and the main airport has been shut.
MPs have suspended a vote on changing the constitution to allow Mr Compaore to stand for re-election next year.

Nino Coppero latest

While we wait for HudBay (HBM) to pronounce on its bad apple Nino Coppero IKN Nerve Centre™ is  left to deal in scraps and off-record information handed its way on the subject. The latest is that we hear Mr. Coppero was summoned to HBM head office in North America, grilled by the highest of the high table and has now been summarily dismissed from the company (even though his LinkedIn page says he's still presently employed by HudBay...really ought to get that fixed, Nino). Desk cleaned out, no time to say goodbye, eye contact duly avoided by erstwhile colleagues, just like it happens in the movies.

Also seems HBM is waiting for the SEC to bring the hammer down officially before making a statement. Which is great PR of course. Of course.

PS: Curiouser and curiouser, said Alice. We now have Milbank Tweed Hadley McCloy crawling all over IKN and checking out anything Coppero-related.. That's a very interesting firm of lawyers, that one.

Pinetree ( distressed selling continues

Lookie at what Sheldon did to Coro Mining ( yesterday at the close:

Betcha they're more worried at PNP about this price than they are at COP.

UPDATE: Oh, just noticed that Iwnattos has a lot more on Sheldon today, does it much better than here too. It has all the look of a small empire crumbling to veritable dust. Go see this.

Dalradian ( provides a market litmus test

The news out from Dalradian Resources ( today is strong and positive. Reading the whole thing is recommended but for the tl:dr among you, the title of "Dalradian Announces New PEA With 36.2% After-Tax IRR Using $1,200 Gold for the Curraghinalt Deposit in Northern Ireland" contains the main elements.

  • You got a new PEA
  • You got a strong post-tax IRR
  • You got that even at today's lower gold price.

Which brings us to the reason for the post, because under "normal" (whatever that might mean) market conditions for juniors, you could guarantee a decent pop and sustained higher price deck for the stock price. But as you probably know this isn't a normal time, juniors are in the deep funk, people losing jobs in all places, Bay St divorce rates ticking up, weallgonnadie etc so I'll be watching DNA action today and tomorrow to see how it gets on; a better sentiment indicator for the sector is difficult to imagine.

Full disclosure: Yes I'm just watching today, because I own some, I first bought in October 2013, added some reecently and my cost average as stands is 64c. It's one of the very few pure exploreco plays I like at the moment, not planning on selling anytime soon. 

Chart of the day is...

...the US Dollar index (USD). Again.

Because it's the centre of all things once again.

Remember that peak and blowoff top of a few weeks ago? Well we're back there again and you, I and everybody else should watch very carefully to see if it holds. Last time the USD was bought on the Fed decision and then sold on the minutes. Today...well, it's being bought on the decision again.

So it goes.

Things that Steve Todoruk of Sprott needs to buy

1) A dictionary. It's Colombia.

2) A map. It's not where you think it is. Honest. Buy one, look, check carefully the relationship between Ecuador and, let's say, Argentina. Or Chile. Or Brazil.

This is how this piece written by said dumbass gringo begins.

Cute, huh? And of course, because he wears a suit and gets published he'll still want us to take him seriously about his expert views on the mining industry in Ecuador. Won't occur to him that getting the basic location right isn't anything more than a minor technical detail. Or being able to spell one of its only two neighbours correctly. Because that's how morons use their brains.

He'll probably blame a secretary or Bill Gates' autocorrect or summink. Innit.

PS: Ecuador's surface area is greater than that of The United Kingdom, Steve. Buy a pocket calculator as well.


Fed reaction in three gifs