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1/22/18

Argentina and the Chubut mining detente: Good for PAAS and Navidad (from IKN453)

You're going to have to be selective, as the sudden thawing in anti-mining attitude in the province of Chubut in Argentina willnot apply to those projects to the West near the Andean Cordillera. However, those in the C-Suite at Pan American Silver (PAAS) must be more optimistic about Navidad's chances than they've been in years. The following a segment from IKN453, out Sunday evening.

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Argentina: There’s a chance for Navidad in Chubut
Much to my own surprise, there’s a sudden thawing to the idea of mining in the Chubut province of Argentina and if things go well for the national government’s argument, the principal beneficiary will be the Navidad silver/zinc/lead project owned by Pan American Silver (PAAS). 

The reason for this potential détente is new governor Mariano Arcioni, who in the last two weeks has made noises (21) about being open to the idea of a “debate about mining” in the province, as well as suggesting that the province’s legislature look into the possibility of modifying the current law on mining in the region (specifically, law 5,001 Article 2 to which we’ll get in a moment). And according to the very interesting article I stuck up on the blog last week (22) this all started when Arcioni went to Buenos Aires in his first trip as governor (after the death of Mario das Neves) along with nearly all other provincial governors. At the lunch they had, President Macri made a point of sitting next to Arcioni and, according to that report, at one point whispered to him “I want Navidad”, a clear reference to the PAAS project (and while we’re here, note that Ross Beaty and Mauricio Macri are personal friends…helps).

This conversation has continued since then between the two and now we have a governor who wants the matter to go to a public debate and even a referendum. The problem with the Chubut law is that there is a clear majority against mining and therefore changing the law for the whole province, but now Arcioni is proposing a get-around using the idea of “Zonification”. In essence simple, he proposes that each region inside Chubut decide whether they want or do not want mining in their area. This is good news for Navidad, because though the larger population centres to the Atlantic East coast and the Andean Cordillera West are firmly against mining activity (e.g. Yamana at Suyai still doesn’t stand a chance, neither do those silly uranium project pumpers like UWE.v, see the Esquel political declarations about how “mining would be unthinkable” in our area right here (23)) the central plateau region wants (as a majority) the Navidad project to happen (jobs, activity, growth etc). Therefore if (repeat IF) Chubut has some sort of vote and law change to allow mining to happen in specific zones, PAAS will be very happy.

This is by no means a done deal yet, for one thing the anti-mining groups in Chubut are already saying that it’s not just the law that has to change but the provincial constitution (a tougher one), but there’s certainly a crack in the door here.


Congratulations to Garibaldi Resources (GGI.v)...

...for managing to get to ONE HUNDRED AND TWO DAYS  without releasing the results on the drill assays they're sitting on. An excellent achievement, ladies and gentlemen, your mothers will be proud.

Tahoe Resources (TAHO) (THO.to): The Regional Health Authority at Shahuindo tells people to evacuate the area

A most interesting video right here from Peru's official government regional health directorate (Dirección Regional de Salud, normally known as DIRESA) regarding last week's spill at the Tahoe Resources (TAHO) (THO.to) Shahuindo mine in Cajamarca, Peru. Despite TAHO's best efforts to whitewash the story, the health authority is now telling locals around the mine and particularly those just below it to evacuate the area due to the health risk of chemicals in the mud from the mine. Also, in the video the regional director DIRESA tells locals that the mud is "probably contaminated" and that there's a strong smell coming from the mud that leads them to presume there are chemical substances in it. Meanwhile, if your Spanish leaves a little to be desired there's also a lot of footage of the flooded zone, crop fields covered in the run-off mud and affected local populations, etc.

It's also interesting to note that TAHO refused entry to the mine to local authorities and also the the National Water Agency (ANA) last week when they tried to get samples from the overflow. 

Brent Cook versus Daniel Cambone, a Q&A video from VRIC

Right here.

Legendary legend, Brent Legend Cook, talks his book and bores the pants off everybody as usual. Likes zinc, starting to like lithium, Tinka gets a pump, Advantage gets a pump, Evrim too. We like the marijuana comment, too: "Personally....(pause)...I know it....(pause)...". As for gold, it'll do "reasonably well" according to the legendary legend.





A Flash update...

...has just been sent to subscribers, Monday morning pre-opening bell. Moving some chips around the table.

1/21/18

The IKN Weekly, out now


G'Day!


IKN453 has just been sent to subscribers. Another 15,000 words of guff and nonsense from the pathetic loser Otto that all GGI longs would do bets to ignore.

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

...in reverse order:

Third Place: "Goldcorp (GG) goes Blockchain". Want proof that just using the word "blockchain" gets people's attention these days? Here it is. A semi-nothing post stuck together in three minutes, a boatload of hits.

Second Place: "Tahoe Resources (TAHO) (THO.to): A serious pollution incident in Peru". There was more info on this in the follow-up post here, plus there's more in today's Weekly, subbers. It beggars belief that TAHO thinks it can get away with this just by emitting a sophist's delight of a news release, their troubles have only just begun at Shahuindo.
 
First Place: "The word in Lima: PPK will resign in February". It got picked up on Facebook in Peru and received a semi-viral number of hits, which is neither here nor there but it's still the most visited post of the week and therefore at number one spot. I haven't answered any of the mails received from Peruvians on the subject either, if they want to know more they shouldn't ask me anyway. They should ask Teofilo Gamarra, the Fuji guy who's conducting the secret talks with Martin Vizcarra.

1/20/18

Angry Geologist does Almadex (AMZ.v)

TAG outdoes herself with the intro to today's post on Almadex (AMZ.v):

The hardest thing in exploration is finding mineralization, once you've found it, that is the hard part done and all you have to do is keep drilling to find how big it is, by drilling a little further away from the "discovery hole" with each drill-hole.
However, there is the another approach. Once you've found the mineralization, just keep drilling the same area time and time again. I'm going to call this the "Poliquin" method after the stunning drilling program at El Cobre.

It filled my mind and mouth with yoks, guffaws and lolz. Go read the whole thing, even without the stunningly poor regional and community risk around this project you'll realize why you should have done like this humble corner of cyberspace and avoided AMZ.v.

Advance Gold Corp (AAX.v): Another exercise in Allan Barry Laboucan hoodwinking

Well wouldn't you know it? A late Friday evening NR from the purveyor of Mexican chinchilla pasture, Allan Barry Laboucan, as he tries to sneak news of yet another ultra-dilutive placement past the dumbos at CEO.ca who hang upon his every word:

Kamloops, British Columbia: Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) announces that, subject to the approval of the TSX Venture Exchange, it proposes to undertake a non-brokered private placement of units (the “Units”) at a price of 6 cents ($0.06) per Unit for gross proceeds of up to $180,000. Each Unit shall be comprised of one common share in the capital of the Company and one common share purchase warrant.

Each warrant shall entitle the holder to purchase one common share at a price of 8 cents ($0.08) per share at any time within 24 months of the date of issuance. All securities to be issued under this private placement will be subject to a four-month resale restriction.

The Company intends to close the private placement immediately following the satisfaction of customary closing conditions, including receipt of all regulatory approvals. Advance Gold will use the net proceeds of this private placement for general corporate purposes and to advance our Tabasquena silver project in Zacatecas, Mexico.
The Company also announces that it will not be proceeding with the $0.08 unit financing announced November 6, 2017.

About Advance Gold Corp. (AAX.V)
Advance Gold

1/19/18

The Friday OT: Carlos Rivera; Recuerdame (from Coco)

There are two soundtrack versions to this most wonderful of animated movies and the English version has its own song lyrics, so if you like 'Remember Me' English/Spanish version by Miguel and Natalia Lafourcade by you can click on that link above and listen to it. Me? The Carlos Rivera Spanish language version by a million miles.



Even by its high standards, Coco is the best thing ever to come out of Pixar and this song caps the movie perfectly. Youtube here.

Still no word from Tahoe Resources (TAHO) (THO.to) on the toxic spill at Shahuindo

It's been over 24 hours since the incident, it's been reported to the local press, due to the severity Peru's OEFA is involved and even they've made an initial statement. But nothing from TAHO, because that's the kind of company they are.

Meanwhile, this Facebook page from a Cajabamba local includes a video which purports to show the contamination left by the spill. She speaks over the video and says that the scene is the mud that came down from the mine, along with other commentary. She also says that the spill happened on Monday evening which, if true, makes TAHO's position on this event simply disgusting.

UPDATE: At last, TAHO comes out with its VERY carefully worded NR. No mention that they've been sitting on this news all week. They "forget" that an OEFA investigation is not just any old routine inspection and pretend that it wasn't a biggie, when in fact it should be material news. The locals have a temr for the "exceptionally heavy rains" that affect that part of the world every year, they call it "The Rainy Season" and it happens every freakin year, so why did the TAHO infrastructure collapse? Then the best bit of legalese, when they straw man "At no time has the rainwater had any contact with process water or any contamination from industrial activities", when nobody accused them of it in the first place, this is about the collection pond after all that industrial stuff.

And the big protest and roadblock set for Janaury 30th onward at Shahuindo is still on, by the way.

One year ago today, America changed forever and all thanks to just one man

It was on this momentous day one year ago that a seismic shift happened. A great day for humanity, with the continent and indeed the world taking a massive step forward. Democracy and justice was shown to work, the will of the people heeded by governors of the highest office, The USA and indeed its neighbors became more secure and less corrupt than they have been for many years. Yes indeed, El Chapo was extradited to The USA.