News roundup (we poke with pointed sticks those which others fear to poke)

 you're doing it wrong, gringo

'Chelle Bachelet causes shock horror headlines in Spain's El Pais and Argentine media for having dared tell the truth back when she was Chile's Prez. According to the latest round of wikileaks, she said, "Argentina has credibility problems as a country. Its democracy isn't robust and its institutions are not strong. It tends to live from crisis to crisis instead of persuing stable policies." Outside of the huff'n'puff patriotic brigades you won't hear many arguing with that one.

Argentina says today it will pay off its Paris Club debt to the tune of $9Bn. If you think you've heard something like this before, that's because you have, In 2008, in 2009 and in 2010 in fact. See paragraph above concerning 'Chelle for more details.

You know when a State news agency is talking utter utter utter bullshit when it starts an article with something like, "Peru is the number four Latin American country for investment in technology" and then goes through the whole of the report only quoting percentage increases and no hard numbers. Your humble scribe's time spent in the 1980's reading the USSR's Pravda (English version) still comes in handy after all these years.

Prez Rafa Correa sez this about trade agreements between Ecuador and the big boys: "We will never sign a Free Trade Agreement (FTZ) with The USA or with the European Union" and that's NEVER, because there'd be much more cost then benefit in such agreements. Sez Rafa.

Just about the biggest two week party in Peru kicks off this weekend as the Titicaca town of Puno holds its annual Virgen de la Candelaria festival. To make people don't regret the hard partying too much afterwards, Peru health people are distributing 100,000 free condoms to revellers to combat unwanted pregnancies and the spread of HIV/AIDS. Just goes to show that in some things, Peru is far smarter than the its anally retentive Andean neighbours.

Why should Bolivia junior exploration plays care about this news today?

Pretty simple: According to the Evo government's plans, once Karachipampa is up and running the country will insist that all silver, lead and zinc concentrate production in the country is sent to this smelter for processing, no exceptions. "What? You see a potential issue with smelter fees going forward? Nah, surely not! Here's DJNW today, click through for the rest:

BUENOS AIRES -(Dow Jones)- Bolivia's state-run mining company Corporacion Minera de Bolivia, Comibol, has taken control of the Karachipampa metals smelter after reaching an agreement with its Canadian joint-venture partner Atlas Precious Metals Inc., according to government news agency ABI.
"We have recovered Karachipampa for the State," Vice Mining Minister Hector Cordova was quoted as saying by ABI at a press conference Tuesday.
ABI said that Atlas handed over the keys to the smelter last Friday after reaching what the news agency described as a "friendly agreement" with the Canadian CONTINUES HERE

Another Colombia mining accident

Peru officially killed 64 miners in 2010, in Chile is was 35 (I think, but if not it's very close) UPDATE the correct answer is 43 deaths, here's the web page and thanks to Setty for the headsup) Meanwhile, the Colombian death toll went over 200 last year in the most dangerous place to make a living underground outside of China.

This morning, another multiple person accident is reported as 30 men are trapped undergound after a coal mine explosion in the North Santander region and that number may be as high as 40. Also, being the type of accident it is (gas explosion underground in a coal mine), we have to hope for the best but fear the worst on this one.

And just to put a bit of icing on this cake, the very same mine, called 'La Preciosa' (trans: "The Precious", but it's not looking so valuable right now) managed to kill 31 of its workers in 2007 in a similar accident.

UPDATE: Midday local time and it's grim: 23 confirmed deaths with likely more to come. Six injured now in hospital.

Chart of the day is....

..copper, long term price with a blue line drawn in by your author that notes U$4.17/lb, the price Chile's copper people Cochilco now expect the red metal to average during 2011, according to reports today. 

 FWIW, they're calling $4.05 for FY12, too.

Problem 575: Cyclic quadrilateral, Angle bisector, Measurement

Geometry Problem
Click the figure below to see the complete problem 575.


Zoom at: Geometry Problem 575

So Michal Slawny of Seeking Alpha got back to me today....

...and sent me this. I really think it's best that I don't reply to her directly because...well, see for youself as I've highlighted her killer sentence in red:

Hi Otto,
You can always choose which articles you'd like to submit as exclusive content and which ones you'd like to submit as non-exclusive. If you submit your articles as non-exclusive you can post the articles on your site immediately and if you submit them as exclusive, you'll know within approx. 6-8 hours whether they've been accepted or declined. If they've been declined you're welcome to run the full piece on your blog. If they're accepted as premium articles than you can post an up to a 250 word excerpt with a link back to the full article on Seeking Alpha.
Please don't hesitate to contact me should you have further questions.

Best, Michal

--------

Ms. Michal Slawny

Contributor Relations Manager

Seeking Alpha

Oh well, that's nice of them, isn't it? If I join their scheme and allow them full and exclusive publishing rights to my work (emphasis on MY) and they don't like what I've written, SA will graciously allow me to publish the reject guff on this grotty little corner of cyberspace. I mean, it's not like I'm actually grovelling after them begging and pleading to get on their pay-peanuts-get-monkeys plan, these people are coming after me and my stuff that they read on this blog (which may well be an error of judgement on their part, but that's the way it is). Seriously, WTF is this? I give up my independence and get the stunning chance to grow somebody else's already overrated and bloated website for ten freakin' bucks per 1000 views and they come at me like they're doing me a favour?

So here's an official IKN policy statement: If Seeking Alpha wants to vacuum up all the independent bizbloggers out there in the world of the interwebpipes and pay them a pittance to grow their empire they can kiss my hairy fat ass. I'll bet dollars to donuts that the only ones interested in this one-way-street of a scheme are the mediocrity and as a result, their already quality-challenged product gets watered down even further.

What could Cardero Resources (CDY) (CDU.to) possibly know about Trevali Resources (TV.to)?

I mean, it's hardly likely that Cardero (CDY) (CDU.to) has any inside track on Trevali (TV.to) and knows more than we retail grunts do, is it? I mean, it's not like they share any of the same management or belong to the same group of companies, is it? And what's that about Mr van Alphen having a long track record of  luck with his timing of buys and sells? Surely not!

Trevali Resources Corp. (TV)						As of January 24th, 2011
Filing Date	Transaction Date	Insider Name	Ownership Type	Securities	Nature of transaction	# or value acquired or disposed of	Unit Price
Jan 24/11	Jan 19/11	Cardero Resource Corp.	Direct Ownership	Common Shares	10 - Disposition in the public market	-170,000	$2.347
Jan 24/11	Jan 19/11	Cardero Resource Corp.	Direct Ownership	Common Shares	10 - Disposition in the public market	-5,000	$2.280
Jan 24/11	Jan 19/11	Cardero Resource Corp.	Direct Ownership	Common Shares	10 - Disposition in the public market	-30,000	$2.230
Jan 24/11	Jan 19/11	Cardero Resource Corp.	Direct Ownership	Common Shares	10 - Disposition in the public market	-20,000	$2.260
Jan 24/11	Jan 18/11	Cardero Resource Corp.	Direct Ownership	Common Shares	10 - Disposition in the public market	-20,000	$2.150
Jan 24/11	Jan 18/11	Cardero Resource Corp.	Direct Ownership	Common Shares	10 - Disposition in the public market	-15,000	$2.180
Jan 24/11	Jan 18/11	Cardero Resource Corp.	Direct Ownership	Common Shares	10 - Disposition in the public market	-180,000	$1.882
Jan 24/11	Jan 17/11	Cardero Resource Corp.	Direct Ownership	Common Shares	10 - Disposition in the public market	-70,000	$1.950
Jan 24/11	Jan 17/11	Cardero Resource Corp.	Direct Ownership	Common Shares	10 - Disposition in the public market	-200,000	$1.980

After all, they've only sold 710,000 shares of TV.to at all prices between $1.88 and $2.34.....so far. What's $1.5m between friends these days anyhow?

Make hay while the sun shines, Henk. The rest of you, DYODD.