Trading Post (buy 'em small, buy 'em all edition)

Who needs analysis anyway? Just buy a bunch of pennystocks and watch them all fly.

ATAC Resources (ATC.v) up 29.8% at $0.74 on a good step-out drill result from up there in Yukon.

Dia Bras (DIB.v) up 20% at $0.18. We very likey.

Radius Gold (RDU.v) up 2.4% at $0.21 on news that it's optioning out one of its landholdings, an Oaxaca (South Mexico) silver property, to fellow Ridgway stock FVI.v (up 1.3% at $1.55). RDU.v slowly building a good looking book of assets.

Ecometals (EC.v) up 27.5% at $0.51. I can't stop laughing, esp when I think about the idiot who bought t 67c today. Going back under 40c soon. Stocks for children or Las Vegas addicts...or the children of Las Vegas addicts. See below for why.

Crown Point Ventures (CWV.v) up 7.4% at $0.58 and going well on low volumes. Toldya 'bout this one enough times, now 40% up and holding thru for the speculative bigshot.

Gleichen Resources (GRL.v) up 9.8% at $1.23. You go girl!

The beating heart of Peru's economic miracle revealed by The Wall Street Journal

Here's how Peru's top three export products for 2009 look like stacking up.

That cocaine number comes from this report in the WSJ with this as the moneyline...

"...the estimated $20 billion annually that Peruvian cocaine fetches abroad."

..that is also making the headlines in Peru today.

No wonder the Sanchez-Paredes family votes APRA, eh?

Ecometals (EC.v) bullshits the market again

Here's a link to the latest from the BS merchants at Ecometals (EC.v) that hit the wires a couple of minutes ago, going by the snappy title of "Ecometals announces final EMP approval prior to drilling at at its Rio Zarza gold project in Ecuador".

When you read the headline it looks like Ecometals actually has permission to drill, doesn't it? But read on and you see that:

Ecometals Limited is pleased to announce receipt of the final approval resolution for its Environmental Management Plan and also the renewal of its Environmental Bond. This approval is the last major step ahead of consent to commence our drilling at Rio Zarza. There will now follow, in conjunction with the Ministry of Mines and the local communities within our area of influence, a Community Relations diffusion process to present and explain the project. We understand one of the major mining companies in the area completed this process earlier this month and is now waiting final permit approval from the Ministry of Mines. Since we are both dealing with the same communities, we are hopeful of a successful outcome. A contract has now been negotiated with drill contractors and site preparations and logistics have been finalised.

Now, what I suggest you do is read it while moving your lips, or maybe even read it out loud to the dog or the cat or something. They're pleased to announce they have the final major thing they need BEFORE they get the approval of the final REALLY major thing they need! ROFL! And now they have to go through weeks and weeks, maybe months of talks with locals before they may or may not get the chance to drill! Or in other words:

WE STILL CAN'T DRILL ZARZA, SUCKAZ!

This is the same company that said it'll be all done and dusted by the end of August, remember? Of course the share price took off like a rocket on this "news" thanks to the brainless momo runners that still believe these serial BS merchants. We'll now see the the same pump and dump as we saw last time and then the shorn sheep will blame people like me for telling them the truth.

As a total utter non-sequitur that has nothing to do with anything else in this post, why on earth did this little poker ditty just spring to mind?

If you sit at a poker table and can't see who the patsy* is in the first 15 minutes, it's you.

UPDATE: SIXTY-SEVEN CENTS A SHARE!!! LMFAO!!!

*Did i write pasty? Oh lordy, a five year old girl knows better than that

Gleichen Resources (GRL.v): So far so good

Gleichen Resources (GRL.v) has run up to $1.15 in the last couple of days and is now doing serious lumps of volume this morning.

Subscribers the The IKN Weekly got the dope about this stock and why it needed to be followed closely on Friday 7th August, after the bell on the evening before the big upmove, in a Flash Update. Since then we've kept an eye on the stock with short comments in The IKN Weekly. So far so good and the sell price we have mapped out is still further upstream.

DYODD.

The sad, continuing story of Doe Run Peru

It's difficult to explain just how much of a snafu the Twobreakfasts government has made of Doe Run Peru (DRP) but the latest chapter, written last night, should come as no surprise. Basically there are three actors in this play:

• Ira Rennert, billionaire owner of Genco who are in turn the owners of DRP. He's a piece of crap but at least he's a predictable piece of crap; he dosn't care about anything but the money.

• The workforce of DRP. They just want their jobs back.

• The government of Peru that has tried to be play at governance and authority and has been laughed off the stage. The result has been death, mayhem and inertia.

Twobreakfasts&Co has tried to play the strongman card about the environmental regulations that DRP has to comply with by the end of October.

"You must comply with the October 2009 deadline", says Twobreakfasts.

Ira says, "screw you, we want 32 extra months".

This extension comes on the back of a previous extension that he totally ignored, so there's no reason to believe he'll clean up DRP this time, either. So the government decides to "be flexible" (read KY Jelly) and give DRP 20 months to do its cleanup program.

"Screw you", says Ira. "I said 32 months, you bunch of wimps."

So continues the impasse. Meanwhile, Ira rallies his troops on site and tells them to strike again to demand that the government caves in and gives DRP the 32 month extension. This they do (out of fear for losing jobs and desire to get back to earning a salary). The main road is blocked, the police move in and last night yet another police officer dies on the scene when hit by rocks pushed on to their position by the strikers.

Rule of law? Rule of $$$$$. The senseless, toothless, wet blanket government of Peru still has no idea what it's up against. In the Wild West of neoliberal Peru, Ira's money talks and Twobreakfasts' bullshit walks. There is no national pride, because if there was Ira Rennert would have been kicked out of the country and his assets seized months ago. The cowards that run Peru bow and scrape before the altar of investment grade at all costs.

Chart of the day is.......

....natgas, weekly candles.

Not a commod I follow much, but out of the corner of my eye this year I've noted chartists and fuelheads saying "natgas is breaking out!" and "natgas can't stay this low much longer!" and "natgas gotta rally with oil soon!"

No it doesn't.

When you sit natgas on the same page as the WTI crude chart and use the same timescale....

......it kinda makes you think that if there weren't so many free long-term storage systems for the blackstuff in this world (a.k.a. supertankers) things would be slightly different.

I don't really have any solid conclusion to make from today's charts, just a musing on the shape and the power of speculative money and how it can shift the supply/demand curve this way and that. Even for the world champion major commods such as oil.

Marcahuasi Sunset and the Golden Rectangles

Golden Rectangle
Marcahuasi is a high plateau frequently visited by hikers and campers wanting to see its many unusual rock formations; standing at over 4,000m (13,123 feet) above sea level, its one of Peru’s lesser-known marvels and something of a mystical enigma.

Click the figure below to see the interactive illustration of Marcahuasi Sunset and Golden Rectangles.



See more:
Marcahuasi Sunset