Monday, March 17, 2014

BanPro is broke

You heard it here first (all of my 4 unique readers a day) BanPro Grupo Promerica (one of the banks here in Nicaragua) is broke.

I thought they were just messing with me, not giving me the money I foolishly deposited into the bank so I got a number of reporters to go in and publicize the story on the radio. It was meant to be just a 30 some odd minute segment but the station was flooded with calls from viewers stating that they too are having the same issue.

The bank, at least the one here in Granada, has been embargoed from receiving any deposits or opening up new accounts. Of course, they already weren't giving people their money so their activity has been reduced to nothing.

Now, the government backed FOGADE (the deposit insurance) only covers up to a measly 10k across all banks accounts. Lots of people will loose a lot of money here.

Another well run bank

Sbb breakout

Well, the sabina chart has shown a nice break above the $1 mark. Its by more than the 3% of price that I like to use as one piece of confirmation.

California Gold Corp Hilarity

As can be seen, there are a couple of companies I like to pick on and Mexivada being one of them. If you would like to know why, read some of my previous posts on them, if your too lazy to read my previous posts  on the matter (and I don't blame you because I'm to busy to provide the link) they are basically run by one old asshole who options out parts of the desert in Nevada and collects the thirty some odd grand  option payment he receives from other juniors. Kinda like a cheeky real estate company. Oh yea, they also been halted since forever (still collecting "management and general administration costs" though)

Anyhow, one of their moose pastures is optioned to an OTT stock called California Gold Corp (CLGL), who announced a few days ago that the company has "completed a proposed private placement and will continue operations as MV Portfolios". Well, I'm not sure if the company is called MV Portfolios as stated in the title, or MVP Portfolios as stated in the rest of the news release. Lets go with MVP.

MVP doesn't even have a website. A search of their name comes up with the California gold corp news release, not a website or anything else to give the impression that they actually do anything. Fortunately exits. Interestingly enough

"Mvp Portfolio LLC filed as a Florida Limited Liability in the State of Florida on Friday, July 26, 2013 and is approximately one year old, according to public records filed with Florida Department of State. The filing iscurrently active as of the last data refresh which occured on Sunday, September 01, 2013.Key People."

"William Meadow serves as the Manager and has interests in other corporate entities including Visre Inc, National Image Link, Inc. and seven more corporations. William's past corporate affiliations include Top FUNDS1, LLC, Digital Design, Inc. and seven others."

Interestingly enough, California Gold Corp does not list any directors or management on its website (actually it doesn't say a whole lot of anything) but with a little bit of looking it turns out that William Meadow was director.

So now, we get this great piece of hilarity. You can't make this up. this is a excerpt from this press release posted on the CLGL stockhouse page....

JACKSONVILLE, FL--(Marketwired - Mar 17, 2014) - Visual Real Estate, Inc., a wholly-owned subsidiary of California Gold Corp. (OTCQB: CLGL) and company founded by Jacksonville inventor and entrepreneur William Meadow, today announced that it has filed a patent infringement lawsuit against Google Inc. in the United States District Court for the Middle District of Florida. The lawsuit claims infringement of three of Visual Real Estate's patents: U.S. Patent number 7,389,181, entitled "Apparatus and Method for Producing Video Drive-By Data Corresponding to a Geographic Location";Read more at|

Sunday, March 16, 2014

Interesting volume on Calibre

I know, I should walk away, just leave it out of my life, but I found it interesting that the stock has traded higher than normal volume on Thursday and Friday and has had a positive close for three straight days. Something that hasn't happened in this stock for well, at least two months, but probably longer.

Will be interesting to see if someone got hold of any trenching results that CXB so loves to put out and figures the market will like them. They move quite a bit of news, only question is which direction.

Saturday, March 15, 2014

Does Radiohead really suck?

Seems to be what IWNATTOS is on about right now. Posting excerpts from the angsty David Thorpes "your band sucks column" over at Something Awful, a site that the internets have essentially forgotten by all except their resident neckbeards and  hentai/tentacle porn aficionados.

I've been a fan for many years and quite like the majority of their work. That being said, I'll agree Thom Yorke can be quite annoying when hes doing anything other than playing music. I went to a show once in Vancouver and the fucker broke out into political/save the environment speech.

That being said, musically, they can be quite good. Even Brad Mehldau agrees, having done his own renditions of a number of Radiohead tracks. Not going to appeal to authority, but c'mon, the man is one of the best Jazz pianists breathing, the guy knows music. Here's Brand Mehldau playing one of my favorite Radiohead tracks, "Knives out".

Thursday, March 13, 2014

Riding NES

I used to watch this stock before everything really went to shit. They have a catalog of excellent drill result but the market was unimpressed when their maiden 43-101 came out. After that, I kinda lost interest and moved on to other stocks.

Having recently checked up, I see a nice upward channel forming. The thing I like about it is the three big bounces off of the lower channel the Bollinger bands have been quite wide throughout the trend but appear to be narrowing.

Fairly simple chart, take a look.

B2Gold Announces their "Positive" PEA for their Colombia Project

Well, a positive PEA for a project named Gram-A-Lot(e)...yea...who are you kidding.

 -- Open pit gold mine with an initial life of mine ("LOM") of 14 years based 
      on Measured, Indicated and Inferred Mineral Resources. 
   -- Average annual gold production LOM of 317,500 ounces at US$664 direct 
      cash cost per ounce. 
   -- Average annual gold production of 373,300 ounces per year for the first 5 
      years of production. 
   -- LOM gold production of 4.445 million ounces. 
   -- Average LOM total operating costs (including sustaining capital) of $736 
      per ounce of gold 
   -- Annual processing rate of 16 million tonnes per year. 
   -- Average LOM gold recovery of 95% from conventional milling, flotation and 
      cyanide leach of the flotation concentrate. 
   -- Estimated pre-production capital cost of $1,176 million. 
   -- LOM pre-tax net cash flow of $1,521 million, and after tax net cash flow 
      of $990 million at a gold price of $1,351 per ounce. 
   -- Net present value ("NPV") pre-tax of $714 million and after-tax of $398 
      million at a 5.06% discount rate and gold price of $1,351 per ounce 
      generating an after-tax internal rate of return ("IRR") of 11.5%. 
   -- Project payback of 4.8 years. 


Kinda low grade and a very low pay back rate but whatever, they have other good projects, and I mean, really, they are only into at 49% anyways....

Stock is up on the day though.

Update: The Clive stated in his Q2 conference call that they would be ready to shelf the project if mine economics call for it. Took it as a way of saying that the results of the PEA were not as "positive" as its own title states.

Truth being told is that the payback period is very long and the grade is no where near impressive. They have other projects that are better and this isn't a 100% BTO project. We will see how it goes. Stragely enough, the market seemed to like the PEA. The stock went down following the Q2 reports...which I felt was at least a bette release from a share holders point of view than the PEA. 

To be honest, I have yet to actually look at any of the technical reports for the Gramalote project with any depth so I can't say to much.

Tuesday, March 11, 2014

Other people post music so why can't I?

Possibly one of his best tracks off possibly one of his worst albums.

What makes it so special? Perhaps the last great track done by Enrique Morente before he died. As well, Vicente playing is, as usual, beyond comparison. Whether you like him or not (and he is very polarized) he is the man of modern flamenco and, perhaps, or at elast in my humble opinion, the most technically capable of all flamenco players.

Well, here it is, Autorretrato by Vicente Amigo with the late Enrique Morente

Monday, March 10, 2014

Biosynt (RX)

I wrote about this company originally as a response to a post by PS Dave about a V listed biotech company I had never heard about. He had less than admirable things to say about the company, but with a chart like this, what does it matter. I sold out way before. I thought a dollar gain was good enough (and why not complain) but having another look today, must be a nice feeling to have been in the sub $1 levels and holden long.

I was skeptical that it was a real pump job as, having had worked with supplement type companies before they are more interested in building a good balance sheet company by selling items with questionable efficacy than running a typicall VSE or Louis Loboto James type pump scheme. As well, they only have 13.6 million shares out, no rollbacks/forwards under a previous name, and no one who I have known to be associated.

But...what do I really know anyways.

To bad there aren't larger blocks on the ask side, could make for a good scalp if one is so inclined.

Back On

After many months of very minimal posting I'm ready to get back to posting multiple times per week (not that anyone cares). Continuing further with the fact that no-body cares and me just liking to write about things important to me, the main reason for my absence has been work and, more correctly, the amount of bullshit that goes along with it here in Nicaragua. For a such an undeveloped country, it is amazing that they have managed to construct such a bureaucratic mess (and not much else).

I mean, hell, why not start by patching up the building in Managua that still bear bullet holes from a war that was over more than 3 decades ago. Anyways....onto mining.

As I stated in a post a week or so ago, I have been interested in Sabina from a technical stand point. It took a good dive around tax loss and has been making it way towards 1 dollar, meeting resistance there a few times. I've followed this stock a lot of both a fundamental basis and technical basis, I even worked for them briefly before the end of the 2012 season, and I know the stock quite well.

Pretty simple charts but has held true for me. A good play which started at just of last year was the swing from $1.00 to $1.40. The price is moving up towards the $1.00 line, testing the move twice before being sent back both times. Price is also trending nicely up towards the line, creating a nice ascending triangle. As far as volume, the current historics (is that a word?) seems nicely positioned for a quick expansion to occure at the next R-line test.

A pretty straight forward chart.

Tuesday, March 4, 2014

He's Alive! Danny Boy that is...

Well, after 10 days of rest, supposedly he finally came out to squash the rumors of his death. I paid a few grains of salt to these rumors as I saw him 10 days ago addressing the Sandinistas in Managua and he looked bad. He had his entourage so close that they appeared to be propping him up. He looked deathly pale and without his usual exuberance. After that, he went missing for 10 days, only to pop up today.

I've been here a little over 2 years and it has been interesting to see his place in Nicaraguan society. A very polarized character but I believe he has the majority in his favor. His government, for all the bad, has done more good than anyone in recent times (not that I could really know). Of course, it only took (among many other things) a communist backed revolution, a less than admirable pact with the 1996 Constitutionalist Liberal Party (PLC) leader/thief Arnoldo Alemán, and an illegal changing of the constitution which allowed him to run for presidency for as long as he is physically able to.

But such is Latin American politics. I mean, hey, when both parties have dead people voting for them you can't expect anyone to play fair.

The general attitude I receive when engaged in political conversations with Nicaraguans is that the man is a patriot, based on the fact that he has stolen the least and given back the most as anyone in recent memory. Its still a grand shit show and nothing really works even remotely like it is supposed to but hey, at least people are receiving free rice and beans and baby medicine when they need it.

in Junior resource news, Sabina put out a nice resource update today. Stock is still trading in the low 90s, but the chart gives me reason to believe that once the break at $1 is confirmed a nice ride up to nearly 1.40 could make for a good swing. Read the release here.