Saturday, March 30, 2013

Blackheath Resources - Hot off the press

Ahhh, the much awaited 2013 program is coming. In my first report on BHR I talked about a large nugget of gold that someone stubbed a toe on. In discussions with BHR the subject of that singular nugget came up and I asked if they would be going directly after it. At the time they were contemplating it but knew they needed some confirmation results for the tungsten. Now it appear that with those high grade results and an encouraging sign that there's lots left in the ground, they appear ready to explore the central dome.

You'd have to read some of my previous stuff to get an idea how these deposits form and why I suspect there's an economical base of gold there. The only other project in the tungsten gold arena that I know a fair amount about is GreenLight in Atlantic Canada. GR.v is another great company who's sp is in the toilet. I mention them so you can read up on the occurrences of the related mineral groups to better help you understand the geologies and formations of tungsten deposit. I'm not endorsing GR.v as ready for investment yet.

For the Phantom Lake occurrences see:  http://www.publications.gov.sk.ca/details.cfm?p=6041

Here is the Blackheath NR:

March 28, 2013
Blackheath Reports Completion of Phase 1 Exploration at Covas Tungsten Project


Blackheath Resources Inc. (TSXV: BHR) reports the completion of the Phase 1 exploration program at the company's Covas Tungsten Project in northern Portugal. The program successfully confirmed and tested known skarn-related mineral zones and extensions as well as new targets at Covas. Work included re-interpretation of magnetic data and completion of a gravity survey as well as mapping and sampling and a total of 1,606 metres of diamond drilling in 15 completed holes. Review of all data and results is now underway in preparation for the next phase of work which will commence later this April and will include further diamond drilling.

Highlights of the Phase 1 program included previously reported intercepts of high grade tungsten mineralization including 2.11% WO3 over 7.98 metres starting at a depth of 44.57 metres in Hole CO 7/12 at the Telheira target and 1.56% WO3 over 11.40 metres in Hole CO 13/12 starting at a depth of 52.70 metres at the Lapa Grande target. Other results from the program confirmed extensions of tungsten mineralization in the skarn zones at Covas. (See news releases dated November 26, 2012 and March 1, 2013 for details) The last two holes of the Phase 1 program were drilled at the Lapa Grande target and have not been previously reported. Hole CO 20/13 tested an area to the east of the mineralized zone with weak tungsten grades but with a previously unknown gold zone averaging 0.31 grams/tonne gold and 4.4 grams/tonne silver over 5 metres starting at a depth of 53.70 metres. This may be an intrusion related gold zone associated with a northwest trending shear or greisen zone. Hole CO 21/13 tested an area to the west and intercepted 4.02 metres of skarn mineralization starting at 62.63 metres and averaging 0.142% WO3. (See news release March 1, 2013 for drill hole locations). Drill holes were vertical and intercepts are considered to represent close to the true thickness of the mostly flat-lying mineralized zones.

"We are pleased with the results of our Phase 1 program at Covas and look forward to planning the next phase of our work. The objectives of our 2013 program, which will include further diamond drilling, will be to expand the known skarn-related tungsten mineralization and to develop a larger tungsten-gold target in the central Covas Dome area" said James Robertson, President & CEO of Blackheath Resources. "In the meantime we will be commencing a program of initial exploration of our past-producing Borralha tungsten and Bejanca tin-tungsten projects in northern Portugal."

Covas is a past-producing tungsten mine and remaining historic resources (indicated and inferred) on the property have been estimated at 922,900 tonnes of 0.78% WO3 by Union Carbide in 1980, based on work including 327 drill holes on the property. Mineralization is open to expansion. The price of tungsten has increased significantly in recent years and is currently approximately $36 per kilogram of contained tungsten trioxide. (These resources are historic in nature, prepared by Union Carbide Corp. in 1980 and are considered relevant. However, a qualified person has not done sufficient work to classify the historical estimates as current mineral resources and the Company is not considering the historical estimates as current mineral resources.) 

The Covas property is located about 100 kilometres north of Porto, Portugal's second largest city. Blackheath holds the property under an option from Avrupa Minerals Ltd. to earn up to an 85% interest in a joint venture in the project, after incurring minimum exploration expenditures of €1 million in two stages to earn a 70% interest followed by completion of a prefeasibility study to earn the additional 15% interest.

Further information about the Covas Tungsten Project and the company's activities may be found atwww.blackheathresources.com and under the company's profile at www.sedar.com



 



Tuesday, March 26, 2013

The Death of the TSX Part Two

Please read this:
http://www.24hgold.com/english/news-gold-silver-don-mosher-strangulation-by-regulation-is-the-venture-exchange-on-its-deathbed-.aspx?article=4304375774G10020&redirect=false&contributor=The+Gold+Report&mk=1

Sign the petition and help save the Venture Exchange http://venturecrisis.org/

I've been writing about this for a while. http://goldcoppertungsten.blogspot.ca/2013/02/the-new-abnormal.html and http://goldcoppertungsten.blogspot.ca/2013/02/more-bad-news-for-juniors.html I started seeing the problems last year, early. We've watched the Frisbee effect here for a long time on CUU.v. It is the banks themselves and now you know why.

Frisbee: 4 houses trading shares between themselves over and over. Yep, it illegal and the regulators have done nothing. Also see: http://www.investopedia.com/terms/p/paintingthetape.asp

To learn more about the illegal activities the regulators permit see: http://www.barkerminerals.com/s/NewsReleases.asp?ReportID=567797&_Type=Company-News&_Title=Barker-Minerals-Ltd.-Reports-Dr.-Susanne-Trimbaths-STP-Advisory-Services-LL...


Friday, March 22, 2013

BC Hydro is robbing people

A single girl who works 12 hour shifts 6 days a week just got a hydro bill for $213 for 17 days of service! Another lady we know got a bill for $740 for 60 days of service, a tenant in my building got a bill for $704 for 59 days of service. My own bill jumped last month to $714 for 60 days and I know of another dozen people in the same boat.

In my condo unit in 40 below zero weather with a family of 5 they paid $600 for 60 days last year and they kept the heat at 85f. The new tenant keeps the heat at 60f for most of the month because they (2 of them) are away working.

At my place we switched to wood heat and a clothes line for drying. I've put in all LED lighting and because it was 20 degrees warmer this year I did not have to run space heaters. I calculated a $120 savings just off the inefficiencies should have been mine. Instead, my bill went up right after the smart meter was installed!

BC Hydro is robbing us.

We called them and they started by saying it was in line with last year! LIES biatch LIES. What kind of bull shit is that? So we told them what we'd done and the next lie was that it must be some of our equipment. Um, BS again. The hot water tank is brand new (2 years old) and I clean the heater elements and there's no flood of hot water spewing out of it. So that ended their scripted lying.

So they told us that we could pay them $100 for taking the smart meter off and having it tested! The problem is that you can simply change the source code and there's no way to prove it. Hell, even the guy doing the test would not know that the code was changed by himself when he went to test it.

BC Hydro is committing fraud.

Before you go running to Solar BC go here. http://www.wsetech.com/ and avoid being ripped off. It's time for a massive movement to punish the thieves. I'll be off grid this summer. You should to if you can. Don't forget to mention where you heard about them and spread the word. Great little company from Sask.

The old analog meters read the surge current accurately when fridge motors etc started up. What you people don't know is that when a motor starts up the measured graph on an oscilloscope shows a spike inti infinity. This is a theoretical spike to infinity. As the spike rises it gets narrower so at a certain point the spike last for such a short duration that there's no point trying to measure it.

With a smart meter there is a digitally sampled current. This sample cannot capture the spike after the duration exceeds the speed of the components ability to read it fast enough. The smart meter calculates the theoretic spike and you are charged for it. This is where they rip you off. You are being charged for a theoretical amount of power that is not measurable nor usable!

In addition, there are variations in the tolerance of the components used in the device. There is also an acceptable error in the quality control when the components are made. BC Hydro knows this all too well. They decide how much to compensate the spike demand and error. THESE DEVICES DO NOT AND CANNOT ACCURATELY READ THE CURRENT! THIS IS A FRAUD. Your real time real world anolog meter was more accurate.

This is why there has never been a clearly stated white paper on these devices. In addition, they can read abnormal current from their office. They will not report that to you. When you call they will lie to you and say it's normal. THIS IS ANOTHER LYING TACTIC TO ROB YOU! They know god damn well you are being ripped off. If you had a short drawing off excess power they could notify you immediately. Instead of that you just get billed and they lie to you and say it's normal. 

[Edit]
Just for kicks and giggles. One of my other tenants has received 2 calls from BC Hydro who is conducting a poll to see how users feel about getting ripped off! Apparently everyone is saying that if there was an alternative they would use it. For those not in the public opinion business, polls are not just for gathering intel. Polls are used to shape opinion and assuage angry feeling by making you think you've been heard and that your opinion counts. lol lol lol lol.

The Rip Off Roll
http://www.austech.info/home-energy-improvements/78791-big-smart-meter-scam.html
http://www.stopsmartmetersbc.ca/html/?p=4060
http://stopsmartmeters.net/smartElectricityMeters.htm
http://www.stopocsmartmeters.com/
http://www.emfacts.com/2011/09/massive-smart-meter-scam-uncovered-in-australia-video/
https://sites.google.com/site/nocelltowerinourneighborhood/home/wireless-smart-meter-concerns/smart-meter-consumers-anger-grows-over-higher-utility-bills

There is a very long long list of complaints. Your governments are behind this. Make no mistake, changing parties will make no difference whatsoever. This is a huge fraud on the people.

AME.v Abacus Mining

Since I mentioned them the sp has risen. It's interesting to see people trying to sell large blocks at 17 cents. Disclaimer: This morning 200,000 shares were up for sale. 17 cents is a steal. I may start taking my position early.

Why would anyone sell? It's a funder who wants to get their cash in motion. They also think this will take till the end of the year to see real gains. They might even share my opinion of what's happening in the junior market.

Look at SPA today. WTF!? 14 cents for a producing gold mine? Yup. How can that be? The implication is that nobody wants to shelter money in a profitable gold mine. But look around at small gold for a minute. They're all under attack. From Jr to Major the share prices are skewed. So what's causing this distortion?

I think this is a systematic attack on gold. It can't be anything else. I can explain it this way. There is a battle between fiat money and real money. In the fiat system you create a FED and it prints money for the people. But, the FED prints a trillion dollars and via interest it expects 1 billion interest. The problem is that it only created the trillion so the billion can't be repaid! The FED didn't print an extra billion so where is that supposed to come from? Well, the FED has to print more and this becomes a chicken and egg thing.

At a certain point in time with all fiat money the people slowly awake to the reality that their FED has been printing funny money. One person argued with me recently that the interest is created when we dig metal out of the earth or when we grow more corn on freshly turned ground. His idea was that the earth was a resource and the FED was just monetizing it. My counter there was pretty obvious, the earth is a closed system!

From discussions and comments from around the world it is becoming much more apparent that the people are becoming aware of what a fiat money system is all about. They are feeling it at the pumps, grocery stores, basically everywhere. And, they are not happy. Many are becoming very worried and rightly so. You see, taking money off gold was a hoax played on a simpler people in a simpler time and it worked. So no more gold on demand, instead, you trust in a fictional being called a god. This way when the IMF tells your Cyprus banker to steal your money you can be mad at your god!

If money were still tied to gold there would be no more inflation of the money supply than was needed/ required by population growth. Yes, you could add oil and copper into the equation that backs a buck. Perhaps you are Greek and you want it backed in Feta Cheese, take your pick, they have a number of exports to choose from: In 2010, Greece was the European Union's largest producer of cotton (183,800 tons) and pistachios (8,000 tons)[97] and ranked second in the production of rice (229,500 tons)[97] and olives (147,500 tons),[98] third in the production of figs(11,000 tons) and [98] almonds (44,000 tons),[98] tomatoes (1,400,000 tons) [98] and watermelons (578,400 tons)[98] and fourth in the production of tobacco (22,000 tons).[97] 

What you can't do with a brick of gold is make it multiply and this is what makes it stable. The basket of goods idea to value a currency is a good idea. And, all currencies backed by physical things must be allowed to float. This way you can only print according to demand.

So here in the land of magic interest and pegged currencies examining GDP or the value of a currency is like looking through the bottom of a coke bottle after 6 beers.  But lets return to the price of gold companies.

As the fiat money loses it's grip on the people's minds you would expect a rise in gold prices. This has happened but lately the producers seem to be losing value. Now, that should not be happening. What I fear is at work are high frequency traders and large amounts of money. Before the rise of gold and all during it a huge amount of fugazi money was pumped into the system. This happened over a period of about 15 years. While the banks sold gold reserves they were busy using the fiat money to lay a long term trap.

Across the board you are seeing gold producers hit with sale after sale in what seems like an endless supply of shares. Gold producers are talking about providing a dividend just to try stop the share price slide. It won't be a total solution. It may attract new investors but the sell off is not over yet. I think this will continue for another 6-8 months. Also to take notice of, the junior sell off started early this year as predicted. It's been a sea of red out there with the exception of a bunch of plays that are nearing capitalization time.

The junior market came under attack before small gold. This sets up volatility in the explorers. Add in hft's with lots of money behind them and you can ensure there is very little outside investment happening. Now dump gold to suppress its rise. Illegally manipulate silver and gold with the blessing of your governments (who's pensions are tied to the fiat money) with the sole intent of driving the price down. Then use HFT's to skim every penny off all those shares you laid away for over a decade. Lastly, convert you fiat funny money back into gold whilst everyone else is trying to get out of the mess you made.

This discredits the value of gold and gold producers. It casts an ugly pawl over the market itself and leaves an effluvium wafting down Wall street. Toronto smells the same only with a hint of stolen Maple syrup on top. Clearly, the last thing they want you to do is to protect your wealth by hiding it in a company who's product has been the universal store of wealth for over 10,000 years, gold. Some say the idea of portable property may even be much older. http://en.wikipedia.org/Gobekli_Tepe

The bond market warning. The capital inflows into places like Thailand into government bonds are an example of a bubble that spans everything from housing to rice. And this morning:

U.S. government debt may continue to be a poor performer, according to investor Jim Rogers, who co-founded the Quantum Fund with George Soros. 

Rogers told Bloomberg Radio he's betting against long-term government bonds and believes the bond market is in a bubble.

The stance has Rogers joining several top investors, including Pimcomanaging director Bill Gross, who have voiced concerns about the bond market and overall debt levels in the United States. Goldman Sachs(GS) and Wells Capital Management have also expressed worry. 

"I’m short long-term government bonds,” Rogers said, referring to a short position, or a bet that an asset will lose value. "I plan to short more. That bull market, that’s a bubble."

When Pimco and the Soros of the world tell you they are shorting long term government debt you'd better listen. Yes, there are some Contrarians who want you to believe there's no bubble but I find those arguments shallow deceptions especially when measured against all of the activity. If the people who lend to governments are betting against them... seems to me that's a self fulfilling prophecy. How can the USA print 85 billion a year and not erode the value of their dollar? Don't forget the interest that has to be paid back on those dollars!

Can zero percent truly be the new norm for permanent interest rates going forward? In a word, NO! So what happens to all debt holders when the piper demands payment? If you think the current interest on USA debt is bad just try adding 1%. Now try 3%. Can you spell disaster? Yup, that's what the great fear is. So when this starts to creep in you will see a sudden interest in gold stocks. You'll see really big money trying to hide from the onslaught. But, this will be like trying to hide and elephant in a strawberry garden by painting its toe nails pink. That kind of money leaves a very large dust trail visible from space.

By May of this year we should see the bottom of the market. If you are prepared to store wealth in gold stocks and wait till 2015 you will be rewarded. This will be the Return of the Kings. Only this time it will be us.

Wednesday, March 20, 2013

Teck the Polish and Copper Fox

From a discussion on Agoracom.
My follow up post:


Normally this is where instituions begin looking at buying. You'd expect to see them driving up the price. With the Polish buying Quadra there's obviously a track record here showing a rock solid major in action. http://www.mining.com/kghm-bids-3-5-billion-for-quadra-fnx-shares-up-39/
Still, no institutional buyers. AME has the money to develope and it appears the project is waiting for their enviro. This will signal institutions that it's buying time. The local opposition is a clean air group that popped up out of no where. Hmmm, might want to look into their funding. The other open pits have not caused a degradation to air quality to any extent. Go visit them. See for yourself. The worst air impact is the smelted just out of town. I lived in Kamloops I know. No, they are not building a smelter.
So 13.5 cents for 20% of 1/2 a SC? With cash and land this is below liquidation value. If the free markets set the price could this really happen? I say no and the regulators are not looking into any of this anywhere. Sure, Coffintrader got nailed but only because the regulators were pressured into acting. Again, this shows their complicity.
Do I expect the sp to run away? Nope. Even though the company has a track record of exceeding enviro standards there is no faith in the market and manipulation has destroyed what was left of support.
By comparison, CUU is in a very like position. Sure, we have a better deal and do not have to take a deal. More likely, Teck has to back in because we sit in the number 2 spot for a take out. Of all the mines in Canada this one has the least number of issues. The number one spot is taken by a better grade with the trade off of some enviro issues. Globally, without taking jurisdiction into account we would rank in the top ten. Size does matter. If the North West block continues to prove up we will catapult globally.
Given the high grade results from last year there has obviously been a change of heart and the company is no longer looking for a quick sale. As it should be! There could be a $15 payday if we went the whole course. It would be pure fantisy land to hope we'd retain our shares right to profitability because the time risk is still there. I'm convinced there's enough potential to warrant this. Even if a small extra deposit could be proved up this would be worth keeping. We could leverage it and develop Az without dilution.
Yes, you have to be corporate minded to see it this way. We are talking long spans of time. Elmer wants the security of a revenue stream to fuel other developments as any mid level developer would. Study the early days of HD. They had to painfully build that company one brick at a time. I can remember a couple bumpy patches from the past and there are some current ones.
Looking at the enviros. We'll beat them to the line up. The buzz is that we await comments only. A similar situation for AME. They however, need to plow in a lot more work. It is true that the arid nature of their location does make them more prone to dust. The are also located right by a major city. In terms of who is better, CUU wins that one hands down. I did speak to the Chiefs 2 years ago and there was a good feeling about it. The natives in our area have also set aside most of their differences. To probe these deeper we would need to look at strip ratios and pag. CUU has a small edge there but a dry location means less acid. Then we'd need to look into processes. But at this point we'd be splitting hairs. The other advantage is our ratios of bonus metals. Elmer is correct as you'd expect in this matter.
While we are at it. DCY.v is a fully modeled deposit. No one has bought it! I thought for sure they'd be bought last year at about 30 cents. Didn't happen. Interestingly, they survived chapter 11 by a hair and their sp rose and is holding. With 43M shares (need to varify this) they are not worth manipulating. There's simply not enough shares. So why have they not been bought out? Location location loc... They are a periphery so the major look at that and say "let them wait". They were one of the first guys to discover the higher grades that existed below the Cherry sheet. They demonstrated the glory hole concept from their sharply thrusted ground. They are probably worth a study but determining when they might have a liquidity event??? Perhaps selling price is an issue. Should this deposit quality be found on our property it would generate excitement. http://www.discovery-corp.com/galaxy_property.php
Sometimes investing is like watching a teenage popularity contest. The money flits here and there until one area settles as the dominant one. There's often no rhyme or reason to it in the early stages. You can have the greatest project and get no respect. It's not until a group starts following you that the rest of the herd notices a crowd gathering. That catylist will be the $25B that's coming to roost in Northern BC. At that point even the not so pretty girls will be asked to dance. The boys will rationalize it as "she's sturdy and can work hard". I'm betting that I was right about the east west battle for attention. Right now they can manipulate us in the west but for how long. We need a major example set before the political winds change. After that the door to the dance hall may be closed for another 20 years.

Tuesday, March 19, 2013

Cyprus and the IMF

I've waited a few day before writing just to see what others would say. I was not disappointed. Let's start with a quote.

"Cyprus is unique. Besides being tiny, its banking system looks different from those in most other countries. Much of the big money deposited in its banks is from foreign investors, including Russians who have long been suspected of money laundering. Those investors had fair warning that Cypriot banks were troubled. The issue has been simmering for six months. But those investors left their money in the bank, in part because they were gambling that the banks would be bailed out at no cost to them. If the current plan is approved, depositors will have lost that bet.
Worse, the strategy employed in the bailout of Greece — in which bondholders of its sovereign debt were paid less than face value — will not work in Cyprus. Cyprus’s banks own much of the country’s debt, so any effort to reduce that debt by forcing debt holders to accept less would only make the banks more troubled.
Given the brutal history between Russia and so much of Europe — and speculation that so much of the money is ill gotten — it is clear why it would be so politically unpalatable to countries in the euro zone, Germany in particular, to bail out Russian depositors. And even if the move were to create a run on the banks in Cyprus, the contagion would be limited."

First the obvious. Cyprus is still being hit with inflation. That's lie one. Just because they were offering a better return does not means the Euro they kept on compute files was not eroded by inflation. But it was a nice try by the talking heads. Lie number two. It's a tax they've been avoiding. If you live their you are taxed. If we deposited savings in a bank in Turkey for example, why should we be paying tax there? We don't live there and we don't work there. So much for lie two.There are other lies. All Russians are laundering money there. Therefore, all people must have their private property confiscated.

Now lets talk about some truths. This is a banking system that made some terrible investments. These investments were so bad that a child would not have made that error. We've been through all these comparisons closer to home. Our banksters admitted that this was deliberate. It really comes down to a question of just how stupid you'd have to be to believe that these guys made an honest mistake. Fortunately, after it was clear that no one would be charged here they came out and told the truth.

So now in Cyprus were have the IMF saying pony up a third and we'll give you the rest. Cyrpiates say "how do we come up with that, we're broke"? The IMF says "the Russian money is stolen so just thieve from everybody". Remember when Elizabeth May brought up the fact that the IMF told our politicos to damage our healthcare system to keep our credit good and our politicos did just that? Why should anyone be surprised to see the ugly head of the IMF surfacing in yet another fraud.

In the USA the people had to pay for the banks by having the government buy them and secure loans so that some could continue. In Cyprus we have a foreign private entity calling the shots. Had Cyprus bailed it's own banks out all would be good. They could demand the money back over time.

This confiscation sends the message that the people will never see the money back even when the banks return to full profitability!  GM has to pay back all the money why are banks special?

The auctioneer has called fair warning. UM ah er really? Savings around the world have been the most protected tenets of our money system. In the old days bills were redeemable for gold. They in a brazen attempt to fool all the people they decided you should trust in God! Well, here's your God and your God is stealing from you. Why not just change it to "In IMF we trust"? So now, our talking heads would have it that the people and savers of Cyprus were given fair warning that the banks would steal their money. Where in the warnings did they say this? Why is it that it was not reasonable for them to expect the banks to save themselves? I bet that not one penny of the bonuses is being scraped back. Worse yet, no arrests.

What this proves to everyone is that you should not save in any bank anywhere. You should have portable property namely gold and preferably gold coins. Solid proof of this can be found in Canada. If you think you own your property just try not paying your taxes. If you have guns gold and a getaway plan on the other hand, you are much safer. If you have a very large pile of gold you can afford to protect it and transport it.

Returning to the expectation that the banks would solve their own hand made problems. We are 100% certain that they knew what they were doing when they got into it and we are equally certain they had no intention of trying to solve it. They could solve it. In fact, all the banks involved world wide could solve this problem. They could simply make those instrument illegal. Make it retroactive too. The 10 times global GDP worth of them gone with the push of a button. Remove the zeros from the balance sheets and continue business as usual.

If this is not done I am 100% certain the thievery will continue. The problem is so big it will make the current debasement look comical. Add another zero to all the sums everywhere.

Last, the banking system has run full circle. These are the money changers right out of biblical times and they have managed to force all of us along with the current of the stupid right into a fascist state one government world. Businesses are the only safe haven yet. The next leg of the journey will be one where the businesses come under attack by the money changers as they strive for total dominance. Yes people, they do need to corral you into businesses as your safe haven. You might think they can't topple businesses but you'd be wrong. They already own enough of them and or have enough tentacles in them so that they can send them down erroneous paths. Our giant Quebec construction firm is an example. The corruption in Quebec and BC governments is proof of how they can do it.

When the banks open in Cyprus don't expect a mass run. There will be a run but those fleeing will want to move slower in the hopes that the banks won't halt it all together. Proof of the moving bar. See today's news. Now they are saying they don't want to confiscate from the poorest of the savers. Ie. the local mom and pops. They are trying to put a friendly  face on the theft.

And now for the lighter side: http://www.cbc.ca/news/business/story/2013/03/19/business-cyprus-bank-bailout.html

[Edit] 3:08 ET
So now the criminal cartel of bankers runs up against the politicos.
"In a sign of the scale of disagreement over the deposit charge, the country's central bank governor, Panicos Demetriades, recommended that no accounts below €100,000 be touched. That level represents the amount of savings that are supposed to be insured if a bank collapses."

Does it take a rocket scientist to figure out what happens when you steal insured money? This comes under the lable of UGFK (kidding). Default is the way to go. I can't steal from the people on my road to pay my debts without risking jail. The same MUST hold true for them. Let the stakeholders decide if they want to rescue the banks who committed crimes with their money.

To add to the absurd statement.
"Charalambous said Cypriot authorities believe depositors should be protected, but that a wholesale exemption for those below €100,000 would mean a "disproportionate" burden on large savers, and a "very detrimental" knock-on effect on economic growth."

This one is labled AUFK. These people don't invest locally. Has the writer of this story ever been there? His head must be up his arse. This is a safe haven for ill gotten gains. Look at the crooks our BC government does with our health care billing. They hid in an identical place just on a different island but for the very same reasons. (Notice with the election coming not a word is said about this? More proof that both parties are against the people.)

[More Editing]
There is one lesson I hope that the people of the world take away from this.  And that is to remember that a single currency is not possible without a complete union of monetary policy, and therefore a fiscal and political union that is complete and comprehensive.  Otherwise a powerful group will wield monetary policy for their own benefit, and the rest of the currency area be damned.

When the single world currency proponents come around again with their proposals, what they are really proposing is a one world government to be established in the ensuing crisis which their actions will eventually provoke. http://www.24hgold.com/modern-money-a-study-in-confidence-and-crisis.aspx?


Thursday, March 14, 2013

Taxes are about to throttle us

The Tyee did a nice job of blurring the truth about the taxes.

Smokes are about to go up 15%! Now before you say yeahhh, stick it to them, think about what that does. I'm just going to use this example to drive my point how. What this really means for your average smoker is that they will spend $60 a month less elsewhere. Now suppose they drink. take another $20 out of the purchasing power. Add in driving taxes, another $40. Suddenly you have $120 less per month in the till! Still think this is good? Never mind that these people are the biggest tippers but I'm not going to say what that means for restaurants.

So the clothing store with 500 customers like these above sees a $60,000 drop in the till. Still think this is good? So they lay off 4 people who apply for welfare because they don't qualify for EI. The EI payments the government collects and the taxes those people pay vanishes. The remaining tax payers have to support them. Oh, not liking how this is going? Well, guess what, this is the tip of the iceberg. When taxes go up on basic leisure items theft rises. This is a proven fact. So you better go hire some private security and forget about parking your car in downtown Vancouver. Oh wait, your one of those assholes who thinks no one should drive. Hey idiot, try hauling a 500 pound bale of hay on your bicycle. Just where do you think your food comes from?

So you say that your food comes from Mexico and the USA and various other countries. Ok, how do you think Wallmart flushes toilets and what power do they use and who pays for the roads the food is trucked on? Oh that's right, we do. So they bring in cheap imports and use our infrastructure giving them a huge competitive edge and you think that's a good idea. I guess this explains why you voted for the same two groups of people who've robbed you for the last 40 years.

So the Tyee says, aaahhh it aint so bad... Really?? Sorry Seth but you must have your head up your backside. (see ) Here's a copy paste of a good response on your page.

 "Well and good to talk about the GDP and percentages of taxation but we must always consider the price point in comparison to what the GP actually means.
 These days, the GDP, is for the greatest part considering all of our exports of raw materials and does not accurately reflect the incomes of the citizens. The purchasing power of the greater percentage of the citizenry has dramatically diminished sending our real economy into a tailspin toward the imminent crash.
 This massive regressive taxation we are under must stop as we use our after tax dollars to pay more and more in user fees, carbon taxes etc. leaving most of us with very little portable income.
 About corporate taxes, we have a problem of perception driven by the very corporations themselves. Be sure that as long as there are profits to be made, the corporations will be driven to make them. Foreign owned companies like Wall Mart will stay here, they will not run away if the taxes rise, at least not until there are no profits left. Unfortunately those profits (considered a part of the GDP) do not stay here, they are sent to the shareholders elsewhere and so do not benefit the society in which they are gained. Greater taxation on foreign owned companies and foreign investors will not chase them away as some governments would have us believe, not as long as there is a profit to be made.
 Please lets stop listening to the "GDP economists" who know not what they do and start to be realistic in our expectations of where to derive the needed revenues to properly run our society."


This is pretty much on the money but it lacks detail and could be expanded greatly. The author of it was just sparing an ignorant population a lesson they should have learned decades ago but obviously never will.

And this post to your blog also nails it on the head.
"To have a life style we want, we have to pay for it in the form of taxation. That is every sector of our economy has to pay it fair share. In the last 12 years there has been a shift in the burden of taxes from the rich and industry onto the average middle income and lower income residents, eg: HST, MSP premiums, carbon tax. We live in the interior of the province and the carbon tax has added more cost to all items that are transported to our community.
Industry has had tax breaks (HST) and prices have not gone down except for electronics that are made offshore, the banks got a $200 million tax break when they have been reporting record profits and pay piss poor wages to their tellers. On the other hand Carol Taylor, who gave the tax break to banks)scored a seat on board of TD Bank.
Like the Senators in Ottawa, they do not need the extra cash but why not take it we deserve to ripoff the system, who cares."

So to sum it up you lie like a Ef'n sidewalk. Shame on you. You know damn well that the give away resource sector skews the gdp to ridiculous proportions. So it's with a breath of relief that we see Canadian companies developing our resources while the foreign ones sit on the licenses that were sold to them. And the utter bullshit of claiming that a $20/hr paycheck is somehow worth the billions and billions that are plundered out of the people's resources to fatten your friends is appalling. It's a damn good thing the natives are standing up to your cronies. Sure, go ahead and raise corporate taxes. Don't give it back like they do for the Chinese and keep the profits in BC.  

"I must also comment on the grand vision that our elected public servants, in all levels of government, operate.  My money is paying for a highway to the Whistler Ski Resort that I cannot afford to visit.  My money is paying for the Golden Ears Bridge and the Port Mann Bridge that I avoid to save money. My money is paying for the roof on BC Place, in which I cannot afford to attend a game or a show.  And, as I drive from Chilliwack to Vancouver, I feel that I could never pay enough taxes to cover the cost of the grandiose infrastructure that my lowly 1991 vehicle apologetically coughs and sputters to drive on.  In B.C., we have the best stuff, but most of us can’t afford to use it.http://www.theprogress.com/opinion/letters/198031631.html

And a word on the three card monty we call the carbon tax.

"A coalition of environmental and clean energy groups is urging B.C.'s political parties to raise the carbon tax and expand its coverage to include the natural gas and cement industries as a way of generating an additional $1 billion in provincial revenues."

"The proposal got little support from B.C. Environment Minister Terry Lake, who said people need to be clear: The groups are proposing a tax increase and a shift away from the revenue-neutrality of the carbon tax"

"What they are talking about is a tax increase. I think that is very important to understand," Lake said.


If the carbon tax is neutral then how is this a tax. This just goes to show you how bad the lies really are. And you bought this crap with your vote! 
.

Teck Builds

In my discussions with various people whenever the question comes up over who will partner up on Schaft Creek a sudden silence takes over. The only words of wisdom that I can remember are that we should just look at the facts as they are. Xstrata has a stake hold and so does Royal Gold. This leaves little doubt about the strength of the money behind the project should it be given the go ahead.

Several times the subject of how to proceed has come up and the usual answer is more drilling should all else fail. We've been discussing the contract in detail because there are clauses that require an answer regarding the "Bankability" and the required JV that is supposed to occur within 60 days of the declaration.

Currently, the 30 days to notify have lapsed and we've heard nothing so the FS is automatically deemed Bankable. It's expected that the JV period will go by without a word too. At this point investors will get really hostile towards management. There's been a lot of rumbling about being kept in the dark. The thing is, there are underlying agreements that require certain information to be held in trust and cannot be disclosed to the public. It's entirely possible that this is why we have not been given an answer from Teck. They may also be under wraps by a sub agreement with Liard.

What I do know for certain. Teck is going to build projects while other companies sit idle. Look at Tumble Ridge. All that's needed there is the enviro permit and they are off to the races. If you speak to the small handful of employees there you will see the enthusiasm. It rubs off on you right away. Everyone there is stoked. In speaking with past employees of the project you get the sense that everyone loved working there and many will return.

I've met Teck people from Trail BC to Prince George and no one has anything bad to say about working there. This to me is a very big positive indicator about the stewardship Teck takes and the pride the employees have in their work.

My take away this week is that Schaft Creek needs to get on the Boards docket so a vote can be put to it. I'm pretty sure that they will vote to go ahead with the JV.

Given the timelines for lead purchases we should expect a notice before the months end. Incidentally, if you are looking at the share price as an indicator you could easily come to the wrong conclusion. I'm expecting an attack on the sp tomorrow because the people behind the curtain know that news is coming. Whether it's the drilling plan or results from the Arizona properties it will have a small effect on the sp. We are due for our yearly plan and the company returns from holidays next week.

I would not be surprised to hear a major announcement soon and I suspect the holidays were timed with the submission of the key report that goes before the Board. I highly doubt they would book holidays if the report was not ready. But with that said, Teck's Copper Board is pretty busy these days. You don't just drop in. You have to get in the line.

A quick look through the Careers at Teck page shows there's a lot of activity happening. As for Xstrata and Royal Gold, I have not been able to get anything meaningful out of them. Both are focused on other initiatives or they are just keeping mum on the subject.



Tuesday, March 12, 2013

We've Lost

Asked why the government had not pursued criminal charges in a case where a large bank admitted to money laundering for drug interests, Attorney General Eric Holder said: “I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy.” 

The people behind the downfall of the global markets and the very same people who are manipulating silver will not face charges despite admitting criminal activity! The laws that govern you and I no longer apply to them.

They are above government.

The government cannot control their activities any more and as stated above, cannot even touch the people behind these crimes. The government, the representatives of the people, have thrown in the towel on our behalf. That's like a boxer throwing in his own towel.

The above is the most clearly made statement that the banks have assumed control. They no longer need to work behind the scenes. Sure, the may have promised not to do too illegal of a thing but if history has taught us anything...


Saturday, March 9, 2013

My Portfolio Updates

Zem is rebounding. With Hugo gone this could mean upside or downside. No one really has a clue but knowing the tastes of the people suggests a continuation but slightly more open to outside investment. I think there will be a small stampede there but the country will limit how much comes in. FDI (Foreign Direct Investment) can cause Dutch Disease. 

Gold is taking a dump due to movement of the really big funds. This has been hitting the larger producers and the mid tier. There's been a trend in metals over the last year or so putting a lot of pressure on them. The Junior explorer market is being ripped apart setting up a unique boom bust cycle with special considerations. We are going to experience really big swings for a long time. The explorers are being starved out and it's not a sorting order of grade and feasibility. 
"Recent history: Shares of the mid-tier gold miner, which has projects in West Africa, South America and Canada, have taken a nearly 50 per cent haircut over the past year. The latest drubbing came last month after analysts cut their price targets when Iamgold forecast that mining costs would increase to between $850 (U.S.) and $925 an ounce, against expectations closer to the $700- to $730-range. The miner also reduced exploration activity recently in Mali because of political instability  Amid these woes, it hasn't helped that the price of gold has been stuck in $1,600-range over the past year. There is also, perhaps, some lingering skepticism by investors about the leadership of Iamgold’s chief executive officer Steve Letwin, who came from the energy as opposed to mining sector just over two years ago."
IMG's recent cost cutting measures might help the stock in the near term. I would consider this a cautious buy because it's possible they have to break up the company. The major investors are not happy at all. The stock is well below asset value and that reflects a lack of confidence in management. The upside is that right now there's a perfect recipe for a take over.

ECA is rebounding nicely. It's not clear if this is the sale of Kitimat LNG site, the change of directorship or the rebound in the price of gas. Perhaps all three and a desire by the larger investment funds to seek long term liquidity. Last year's headlines "Natural gas prices continue to free-fall, and for the first time in over a decade, prices dropped to $2 on Wednesday." are responsible for the decline and you might have expected more of the larger players to take up shares as they became vary cheap but this didn't happen. Instead, the big money took losses in what they considered secure stores of wealth. It's hard to imaging people paying for the privilege to keep money in a foreign bank but this is what transpired last year. 

On the lighter side, SWE looks poised to run this year. This will depend on how ambitious management is. Since it was a freebee there's nothing but upside. Its chart also suggests that it has found a bottom.

Cat. BMO and other talking heads might have this one right. While they suffered a 4% dip in sales I think a lot of that is due to the nationalization trend but it should rebound. Even under nationalization construction must still go ahead. It normally slows but it does not stop. CAT's caution was correct. CAT is still a hold.

Curis Resources - The Battle Heats Up

Since I wrote The Curious Case of Curis Resourses There has been a new direction sought by the township. What follows below smacks of the hillbilly tactics the previous article discussed. They intend to expropriate the land the miner intends to us. The action is nothing short of a harassment. It is a mockery of the rule of law in the USA. I suspect this is going to cost the town a lot of money. It makes me wonder if this is actually backed by the people. They would know this is a lost cause and a very big waste of money. It should be amusing to see how this unfolds.


CURIS STATEMENT ON RECENT ACTION BY THE TOWN COUNCIL OF FLORENCE
Curis Resources Ltd. has responded to a recent vote by the Florence Town Council authorizing the acquisition of private land owned by Curis through eminent domain for the purported purpose of a waste water treatment facility. The town's recent action has no legal effect on the ownership of the company's land or near-term project development plans.
The law in Arizona and the United States places a high value on the right to own private property and restricts heavily government bodies from unwarranted takings of private property. The fifth amendment of the United States Constitution provides that "no person shall be deprived of life, liberty or property, without due process of law, nor shall private property be taken for public use, without just compensation." Hence, Curis has no doubt that the courts will not permit the town to follow through with this council authorization.
The use of eminent domain comes with onerous legal burdens of proof and costs for the town if it fails to meet them. Given the tremendous amount of vacant desert land in the region of the town and the typically small footprint of a waste water treatment plant, the selection of Curis's entire private property holdings as a potential site for a waste water treatment plant lacks foundation.
The town's attempted action does not include the 160-acre state trust land parcel on which Curis can operate for nine years, including the phase 1 production test facility and the first years of commercial operations of Florence copper. Once final permits are received, Curis plans to continue to move forward with the phase 1 production test facility in the near term. The phase 1 production test facility is intended to demonstrate the safeness of the project that it operates well within the limits established by the state (ADEQ) and the federal (EPA) agencies and that it provides significant employment and economic benefits and opportunities in the town and region.
Curis has advised the town that it is willing to meet, discuss and address any and all concerns with respect to the proposed Florence copper development, including the ability to accommodate the waste water treatment facility. The company remains committed to an open and respectful dialogue with the elected officials and citizens of the community.

Wednesday, March 6, 2013

HPY Proves Up Highland Valley Grades

The bulk testing initial cycle is complete and the data looks very promising. In a cycle where junior mining is being starved off their positions having a deposit next to a producing mine is a bonus.

This is just one more step towards selling the deposit for a nice payday. A while back I suggested a handsome payout but under the current market conditions Happy Creek will have to settle for about 4-5 cents a pound. Still, with a very small share float this one's worth selling. The small share float is proof that David knows how to stretch a buck.

I did my dd and echo the opinions found in the NR. There is very good reason to believe this is wide spread and that another deposit exists at depth. I would not be surprised to see some smaller high grade zones found below.

Here's the Nr in case you missed it:

Happy Creek's Zone 1 returns 39.6% copper, 398.8 g/t silver in concentrate at Rateria Property, B.C.
(via Thenewswire.ca)
February 28, 2013 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V:HPY, the "Company") is pleased to announce results of metallurgy and mineralogy performed on its Rateria property, located in the Highland Valley district, south central British Columbia (B.C.), Canada.
The Company has a 100% interest in the Rateria and West Valley property, totaling approximately 175 square kilometres adjoining Teck's Highland Valley Copper mine property, Canada's largest copper producer. On the Rateria property, Happy Creek has discovered two new copper zones located approximately 6.5 kilometres south and southeast of the producing Highmont mine.
During 2012, the Company provided 220 kg of drill core samples from Zone 1 to Met-Solve Laboratories of Langley, British Columbia. A bulk sample was prepared by the lab and returned head grade assays ranging from 0.21 to 0.25% copper. Met-Solve performed mineralogy and metallurgy tests producing a concentrate product containing 39.6% copper and 398.8 g/t silver. As these are preliminary tests, the initial recovery of 75.5% can be expected to improve with locked cycle testing to more closely reflect a full scale mill, and potentially with additional re-grinding.
The tests indicate that relatively simple flotation techniques can upgrade Zone 1 material over 150 times into a quality, high grade copper-silver concentrate.
David Blann, President and CEO of Happy Creek states: "This is an excellent concentrate product thought to be comparable to that at Highland Valley. It provides information to assist with an appropriate cutoff grade, and with the geology which has similarities to the deposits currently in production to the north. The mineralization in Zone 1 is open in extent beyond 400 metres below surface and this area is thought to host potential for another large scale deposit. We anticipate building upon our discoveries and continuing exploration for additional quality deposits in this highly prospective district."
Mineralogy indicates the dominant copper minerals consist of chalcocite and bornite with minor or trace covellite, djurelite and chalcopyrite. Textures indicate that chalcocite has replaced bornite that replaced chalcopyrite. Native silver grains occur within chalcocite. The main gangue minerals present are dominantly quartz, plagioclase and muscovite (2M1) with variable amounts of kaolinite, calcite, dolomite, chlorite (clinochlore) and hematite. The copper and gangue minerals present are consistent with a porphyry system, and post-mineral faulting and lack of pyrite is thought to have played a role in the deep in-situ development of chalcocite. This process has occurred to over 400 metres below the current surface.
In Zone 1, drilling of 37 holes has outlined a continuous copper zone approximately 1.2 kilometres in length, 50 to 200 metres in width and extends from surface to a depth beyond 400 metres. Results include 367.3 metres of 0.10% copper, 250.0 metres of 0.25% copper and 95 metres of 0.67% copper. West of Zone 1, drilling in 2011 returned 7.5 metres of 1.70% copper, 30.7 g/t silver and 7.5 metres of 1.35% copper, 12.4 g/t silver. Many of the recent and historical holes around Zone 1 were generally relatively shallow in depth. They ended in rock with hydrothermal alteration suggesting the underlying system is widespread and larger than previously thought. Zone 1 is located in proximity to contacts between the Bethsaida, Skeena and Bethlehem phases of the Guichon batholith that are the main host to the large deposits in the district.
Zone 2 is located approximately 2.0 kilometres to the northeast of Zone 1 and occurs in proximity to Skeena and Bethlehem phases of the Guichon Batholith. Previous results from Zone 2 include R08-05 with 126.0 metres of 0.46% copper, 0.008% molybdenum and 0.10 g/t gold. During 2011, drilling returned additional positive results including R11-36 containing 152.5 metres grading 0.26% copper, 0.008% molybdenum, 0.07 g/t gold and 0.67 g/t rhenium. This includes 42.5 metres of 0.37% copper, 0.17 g/t gold, 0.025% molybdenum, 1.82 g/t rhenium. On January 14, 2013, the Company announced results from two additional holes: R12-01 returned 92.8 metres of 0.30% copper, 0.15 g/t gold from bedrock surface and R12-02 contains 152.5 metres of 0.35% copper and 0.57 g/t rhenium. Zone 2 remains undefined and open in extent. Metallurgy is underway for Zone 2 material that will provide more detailed information on the copper, gold, silver and molybdenum-rhenium found in this style of mineralization.
On the Rateria property, the positive geology, drilling and metallurgical results are thought to be consistent with Highland Valley type deposits. Both Zone 1 and 2 remain open in extent and additional drilling on these and a number of other prospective targets on the properties are planned.
The TSX Venture Exchange has approved an extension for a total of 3,537,500 warrants with an exercise price of $0.35 that now expire on December 21, 2013.
On behalf of the Board of Directors,
"David E Blann"

Sunday, March 3, 2013

NDP at Agora CUU Board

One poster writes
""…But then i think that even if ndp does take power, they cant stop building of ntl and mines in northern bc…."
I agree but I would go further and ask " Why would they want to?". Is there any logical reason why they wouldn't want to?
Not wanting to start up this line of thought on the forum again, I contacted the BC NDP to ask them specifically about their attitude toward resource development in northern British Columbia. If I get a response I'll share it with the forum.
I also suggested that they might respond to resource investor concerns by publicly stating their position specifically regarding resource development in northern BC, assuming environmental and First Nations issues are adequately dealt with - as we KNOW they have been with Schaft Creek. I invite forum members with concerns also to write to the NDP (and other parties) rather than speculate in a void; we have enough of that with CUU."

I respond
"Why didn't you ask them why they did it last time? What's to stop them from lying and doing it again. The big cheese from the Sierra fund is in the party.
"Vancouver City Coun. Geoff Meggs, considered to be a slam dunk to win the Vancouver-Fairview nomination, lost badly to former union boss and Sierra Club executive director George Heyman."
What we learn from this is that Vancouverites control the agenda of the North. This is why BC is considered as being one large National Park. This is why miners fear a NDP win. BTW, this isn't the only guy in the party that is diabolically opposed to us making money. There are other's in the party with equally horrible agendas. This guy just gets the light for now. You can google up some excellent articles on who's who in the party and you'll see there has been a reformation of the old ideologies.
The one example I gave of them cuddling up with the mobster unions who are writing the party's mandate for labour should have been enough to shock people. It won't of course because this is BC.
Writing them and asking about their intentions will tell you nothing. Asking burning questions about the past and the people coming to roost just might give you some clarification on their intent.
We have been set up by Chairman Harper so that when we provoke our new overlords they can sue. We will provoke them and we will probably put money in escrow (for the impending loss) demonstrating the supremacy of WTO law over our own. You might think this is a joke but it isn't. These will return as prophetic words. If you can't smell what's been cooked...
A little more proof about what the party represents follows below. But a word on this. It's 2013 and we are accepting the yoke that the Russian people labour under. WTF!? What does this tell you about the people of BC? The book, Assholes - A Theory by Aaron James aptly describes our politicos but what explains the people?
From the NPD Constitution:
The principles of democratic socialism can be defined briefly as follows: a) the production and distribution of goods and services shall be directed to meeting the social and individual needs of people and not for profit, b) the modification and control of the operations of monopolistic productive and distributive organizations through economic and social planning, towards these ends, and c) where necessary, the extension of the principle of social ownership."

Mt post gets deleted! Tit for tat I flag the first post and wouldn't you know it the Hub Leader let it stand!

The reason given for deleting my post is that it was "BS" and didn't effect mining. This is not a case of "head in the sand". We've discussed these semi "off topics" before. This is a NDP Hack who doesn't want investors to know who the connections are to within the NDP.

It's true that if you google you'll find a number of articles that probe deep into the NDP connections and you don't have to bee a political junkie to understand exactly what's been set up. Does anyone here want to deny that Mulroney was accused just so he could sue and be given $50 million? You'd have to claim that the people making the accusations didn't know what libel and slander are.

Now just to show how ignorant people are of the facts, read this.
http://www.theforbiddenknowledge.com/hardtruth/zip_code.htm
This stuff is going on all around you!

So when I wax prophetically you can bet there's a grain of truth in it. No, I do not imply that Chairman Harper is at odds with BC. In fact, it's the opposite. The three main stream parties would fall over themselves to follow orders and get the Chinese paid. Any one of them would cause us to get sued and they would probably give the money in advance of losing just as an "in your face" to the population.