Sunday Funday

Well. it seems I post more and more items unrelated to the actual theme of this blog...but its mine.

I played FarCry, thought it was fun.

Here is a guy playing it with funny commentary. Well worth the nine minutes (assuming you have nothing going on in your life).

Sabina Release Feasability Study

A lot of people were waiting for this and it was, all in all, quite impressive.

I no longer hold a position in SBB, but have been in this stock a great number of times. I've held it for fundamental reasons, and I've traded its swings a while back when it was fairly predicatble around the$1 mark.

The stock was even yesterday on the news, but gained a bit today. I plan a decent entry as I was worried about cash costs in the northen environment, but I guess the high grade makes it quite economical.

Another note for those out of the loop, Rob Pease is no longer the CEO after a numer of years with the company. Stepping in is Bruce McLeod; the man who sold Mt Milligan to Thompson Creek Metals. below is a list of the basic highlights. You can read the release here.


-The Project could generate a post-tax IRR of 21.7% and net present value ("NPV") (at 5% discount rate) of $539 million

-The Project could generate Life Of Mine ("LOM") post-tax net cash flow of $914 million on gross revenues of $4.5 billion with a payback period of 2.2 years (from start of operations);

Processing rate of 6,000 tonnes per day ("tpd") could produce an average of ~346,000 oz Au per year (post commencement of commercial production)

-Average production of 413,000 oz Au in years 1 through 4;

-Majority of production from open pit;

Initial capital estimate of $695 million and sustaining capital estimate of $529 million (including closure);

-Total LOM cash cost estimate of US$535/oz Au (including third party royalties, refining and transport). LOM all-in sustaining cash cost estimates of US$671/ oz Au LOM (including sustaining capital);

-A total of 19.8 million tonnes of ore could be milled over 10 years with a LOM average grade of 5.70 grams per tonne ("g/t") Au and metallurgical recoveries of 93%;

-Base case assumptions of delivered diesel price of $0.94/L for power generation; and
Open Pit strip ratio of 7.2:1 over LOM.

I don't like Tuesday very much and....Vicente Amigo

Well, its Tuesday, and the weather is nice. So, some random hipster IPA from the liquor store and flamenco in the back yard.

You should check this guy out if you haven;t already...

Hey, do you know anyone who has Vanadium?

Sometimes in the junior sector you can't find anything serious and actual investment worthy to talk about. In fact, I find most of my conversations with other people concerned with the sector to degrade fairly quickly into poking fun at companies/CEOs/Projects etc. Its, well, to easy...and making a good investment in this sector these days is whole lot difficult.

That being said, every now and then you come across a bit of promo that is so amateurish, so poor, it becomes something special. Here is Micheal Vaughan, a financial journalist, inteviewing Lee Barker, CEO of Sparton Gold. I can't find anything on Micheal Vaughan when searching google. In fact, the results that come up are all linked to Sparton Resources.

This interview contains such epics like

"Thats always the way, all the justice you can afford!"

"That is disgusting!"

"Im seeing alot of news about Vanadium Redux Batteries these days" (wait...really..where?)

"And you might have some of the purist Vanadium in the world"

"Hey, do you know anybody who has Vanadium?"

"Now, I'm not a great scientist but I have not seen a large battery that can store as much energy in an economical way...erm...if your trying to store solar power for example, than vanadium flow batteries"

"china is making a big push to clean up their filthy air!" 

"So...you could do a closed loop project"

"Don't give up Lee, carry on...Land it!"

The interview says that they have received a settlement which will, after legal fees, put about 250k into the companies kitty. They say the settlement is unsatisfactory, which is understandable considering that managment fees for 2014 were $275k, $400k in 2013.

Here is the video...although its not all that interesting.

Lux Ex Umbra

I recommend this blog to my fellow Canadian who are interested in their countries premier intelligence gathering agencies.

So...if that sounds like something you are interested in, go give it a read!

Lux Ex Umbra

A response to IKN

He posted a video of Paco de Lucia playing Concierto de Aranjuez. Something that, it seems, all flamenco guitarists need to play at some point in time, even if it can be a bit boring at times. Then again, you can't really speak of Spanish music without coming to Joaquin Rodrigo eventually. None the less, Paco is a "hero" of mine and I hold his body of work quite dear to me.

As a response, I post the best thing since Paco, Vicente Amigo...All in my humble opinion of course.

Callejon de la Luna is an excellent track from Vicente... pure flamenco...before he got into the more poppy side of things (Un momento en el Sonido is out standing by the way).

I was wrong

I was wrong about both PLI and OCG. It does happen, although I have had a decent track record with these two.

Anyways, just wanted to admit I was wrong