Ecometals (EC.v)

Today's Ecometals press release begins this way:

Press Release Source: Ecometals Limited On Friday March 26, 2010, 8:00 am

TORONTO, ONTARIO--(Marketwire - March 26, 2010) - Ecometals Limited (TSX VENTURE:EC - News; BERLIN:GDQ - News; FRANKFURT:GDQ - News) -

Analytical results from the first two diamond drill holes on the Rio Zarza gold project in Ecuador indicate geochemically anomalous but uneconomic levels of gold. CONTINUES HERE

Today's IKN post on Ecometals ends with an owl:

PS: there's no need to write in and apologize. Just grow up.

Chart of the day is...

...LME copper inventories, six month chart.

You should know the drill by now. Here's the 5 year chart for context (as the only time I didn't add it on recently I was slated for the omission....that's life).

Whatevs. How long before you spot the trend, too?

Mercedes-Benz 2010 Vehicles, Interactive Mind Map

Interactive Mind Map based on Mercedes Benz USA.

Graphic organizers are visual representations of knowledge, concepts or ideas.
Click the figure below to see the Interactive Mind Map.


See also:
Mercedes-Benz 2010 Vehicles

Trading Post (pathetic edition)

Of all the serial hatemailers that waste their time by writing in and telling this humble scribe that IKN is teh stooopid (then continue reading every day), my favourite is a guy that works at the Canada's Department of Public Works And Government Services at its Gatineau branch, Quebec. He actually bothers changing his faked name every time he writes in, too...bless him!

Yesterday he went by the name "Pathetic" and chewed me out for not mentioning Dynasty Metals & Mining (DMM.to) recently. This proves that he's not a subscriber, because in IKN46 out last weekend we dedicated six full pages to the recent developments and newsflow at DMM.to and made some changes to the reco, too. Donc Monsieur Pathetique, if you really want to know more about DMM just send me a mail and I'll happily send you by return a comp copy of IKN46. But make sure you say "please" this time, yeah?



Fortuna Silver (FVI.to) up 2.3% at $2.67. Yup, the market liked the annuals and the confcall.

Dow Jones Industrial Average (DJIA) up 1.00% at 10,944. So what was that about Greece again? And Portugal?

Riverside Resources (RRI.v) down 3.4% at $0.57. RRI has been treading water recently and this humble author would really like to see the company get some snazzy new project on its books. The mgmt is top class and utterly trustworthy. That alone is worth its weight in gold in this scam ridden sector.

TheNewCrystallex (EC.v) down 2.6% at $0.76. TheNewCrystallex has been doing its normal manipulated rollercoaster thing these last few days.
Hmmmm....big volumes on the drops and little stuff to push it back up....whatever can it possibly mean? Waddaya say, owly?

Let's all laugh at ECU Silver (ECU.to) longs

ECU Silver (ECU.to) came out with its latest laff-a-minute production update this morning, so IKN got out the spreadsheet, plugged in the numbers and here's how things stand at the company regarding silver production sold to the market:

And here's the same chart for the gold:

You'll note that things aren't going so well recently. It gets worse when you do a bit of calculation and multiply the production by the average London Fix spot prices for each month.

You'll note that in the above, the third quarter period (the last one reported by ECU.to) saw $2m in gross revenues, which was pretty close to the $2.23m reported by ECU.to. The problem is that in 3q09, the company reported a $1.2m loss, because amongst other line item costs it had a G&A of over $1.8m and interest payments on loans of over $1.1m. Just those two things wipe out any chance of a profit and they're going to gouge the same in 4q09 and 1q10...and on and on..

So this quarter we may see something like $3.5m in gross revenues. Not quite as bad, but the company won't have the same $2.2m foreign exchange gain this quarter, either, so the chances of this "mining company" (term used as loosely as possible) returning a net profit are still minimal. As for the 4th quarter, just wait til you see how much stock-based compensation this rip-off merchants assign themselves...that'll make you laugh.

We're now just counting off the days to the next dilutive financing (which won't be the last). Only total suckers, scam artists or people who have no idea about reading financials could ever be interested in this stock. Talking of which...........

Henk's whores love PDAC

Oh look...Dorato Resources (DRI.v) has faded badly after PDAC....wowsers, that one surprises....

1) Chances of any DRI.v properties becoming a mine: 0%
2) Chances of DRI.v IR dep't contradicting this fact: 100%
3) Chances of IKN receiving further hatemail from Germany today: See point 2)
4) Chances of IKN not laughing at the hatemailers: See point 1)

UPDATE: For those of you who wonder whether this blog gets read by the scam artists, this is what happened just after publishing:

The pumpers pop DRI.to up by 6.5% on one single trade of 7,400 shares. I giggled.

A bit of Colombia trade

I know what you were thinking as you woke up this morning, dear reader. You stretched, yawned, made for the shower and thought to yourself, "I wonder how the Colombian trade balance has performed in the last three years or so?", so fortunately IKN is here to help you out on that burning question.

Here's the monthly import and export figures for Colombia in the period January 2007 to January 2010.

As we can see, the country went through the same sales slump (both inbound and outbound) as the rest of the region thanks to the financial crisis. We also see a slow but sure rebound in 2009 that has put the worst behind it but still isn't close to the 2008 good times. So yet again, you're going to have to take the rah-rah brigade's GDP growth fanfares with a large pinch of salt this year, as the better comparative will not be Year-over-Year but 2010-to-2008.

As for the exports mix, this zippy chart put together above shows the percentage take-up of its main exports. Surprisingly coffee is but a minor part of the mix, with the big big growth seen recently in hydrocarbons (oil, gas etc) and coal (which is a hydrocarbon in itself, I suppose). Together, oil/gas and coal in Jan'07 was less than 40% of Colombia's exports, but in Jan'10 that percentage was nearly 59%, a big upmove in just three years. Ferro-nickel used to be a bigger slice of things, but it not no more.

Put simply, Colombia doesn't give a rat's gluteus maximus if Chávez stops buying its textiles cos it's now busy enough selling oil to the gringos. Mojitos served, the end.