Friday, November 8, 2013

Erysichthon—THE Myth That Describes Our Situation Simply

I haven't written in a while.  I stopped watching the bits of brown-stuff flowing from the fan.  There is no point watching the control trip being spun by all levels of the beast.  The message is the same.  But it will change and the full load of brown-stuff will soon enough hit the fan(s).  The illusion of the beasts control is almost over.  The beast will make a misstep.  It is a universal truth that change happens relentlessly and we can all see that the conditions for the survival of the beast in its present form have utterly changed and in response the beast's hunger only grows.

There is a 'myth' in Greek mythology that I heard from Frank Zingrone who was a teacher of mine in York University (he had done a lot of work with and for his teacher: Marshall McLuhan).  I would like to share with you as I heard it from him.

Erysichthon was the son of Triopas. He was an arrogant and impious man who dared to fell timber in the sacred grove of Demeter. As punishment, Ceres sent Famine to dwell in Erysichthon's entrails, so that he was continuously tormented by an insatiable hunger. He ate up all the food in sight, and sold all his possessions to buy more; still he was not satisfied. Finally he sold his own daughter. She appealed to Poseidon, who had taken her virginity, for assistance, and Poseidon granted her the power to change into any shape she wished, thus enabling her to escape her new master. Her father discovered her ability and sold her many times thereafter until he had her become a pig and he sold her for a celebration in a nearby kingdom.  When she returned to her human form she met and fell in love with someone there and dallied for a day.  When she returned home she discovered that Erysichthon had devoured himself.

Isn't this what we are watching play out in financial markets?  Think about it. 

Stop being the daughter, stop being the pig and let the sickness come to its natural conclusion.  Our world will be a lot better for it.  Take the cure.   Tell that to the politicians?  No they are one of the Erysichthon's limbs and will be devoured in due course.

What can those who understand do?  Withdraw active support for the body of the problem Erysichthon and live happy without the illusions they ask you to hold.  And watch the show.  We are nearly there.

The ship of fools is going down.  Don't be penned like sheep by ideas that are lies we tell ourselves to keep ourselves in the fold.  Look and see clearly for yourselves—that clarity is a happy place whereas the cloudy delusion of our present circumstances is not.  Understand that our present situation is not some high-level conspiracy other that the rich wanting to stay so—they suck at the same teat of delusion as everyone else. There is no one group to blame.  The problem is us.  And we are the solution so start with yourself—that's where it all starts in truth.

May All Be Well and Happy—Without Having to 'Pursue' It.

Friday, September 27, 2013

What's Really Going On—Are We Actually Watching the Death of the Equity Markets?

I was at a crowdfunding seminar yesterday.

My take-away is that while many companies NOT in the public markets can now use, easily, the disruptive crowndfunding model to raise funds public companies must jump through a series of regulatory hoops.  These same regulatory bodies who have also allowed / created a mix of trading rules and conditions that are toxic to junior companies. 

These public market companies are at the mercy of deleterious changes to the rules on shorting and the hell-fire realm of high-frequency trading which is so inappropriate for low volume trading.  These 'conditions' are plain and simply toxic.

Private companies, start-ups and other organizations have this new source of public capital without the obstacles of multiple costs and regulations of the market operators.   Instead they can raise money directly from anyone who likes the idea or product or service being offered for financial support to anyone interested.

Junior equities and start-ups are the roots of the public market system and this level of the equity system is being destroyed.  For me the simple conclusion is that that whole system is under attack from the 'owners' of that system, the investors who seem loath to return while the toxic situation continues AND this new form of participation in the emerging level of wealth creation.

So sad but perhaps necessary in order to rearrange the order of control and power in the financial world which was present (maybe not really) and generated the conditions for the 2008 collapse.


PS—I will be attending the TSX HFT (high-frequency trading) seminar on Monday so you can expect more on this topic on Tuesday. G

Gold Junior News Morning: 9/27/13

New Dawn Moves Date for Special Meeting of Shareholders ... Junior Mining Network
(TSX: ND) ("New Dawn" or the "Company"), a junior gold mining company operating in Zimbabwe, has changed the date for its previously announced Special ...
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San Gold Announces Purchase of Cougar Claims at Rice Lake Junior Mining Network
WINNIPEG, MANITOBA--(Marketwired - Sept. 26, 2013) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced that it has entered into a ...
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Dynacor Discovers Disseminated Gold Mineralization at Tumipampa Junior Mining Network
MONTREAL, QUEBEC--(Marketwired - Sept. 27, 2013) - Dynacor Gold Mines Inc. (TSX:DNG) (OTC:DNGDF) (Dynacor or the Company) a company with gold ...
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Vidit Gujrathi wins bronze in World Junior Chess The New Indian Express
Gujrathi joined the list of elite Indians winning medals in the world junior champions starting from a gold medal won by world champion V Anand in 1987, gold by ...
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Kestrel Gold Inc. Announces Proposed Private Placement of Up to ... Junior Mining Network
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 26, 2013) - Kestrel Gold Inc. ("Kestrel" or the "Corporation") (TSX VENTURE:KGC) is pleased to ...
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NuLegacy Gold Announces 10 Million Unit Private Placement Junior Mining Network
RENO, NEVADA--(Marketwired - Sept. 26, 2013) - NuLegacy Gold Corporation (TSX VENTURE:NUG) announces, subject to acceptance of the TSX Venture ...
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Vista Gold Corp. Comments On Recent Trading Activity Junior Mining Network
DENVER, Sept. 26, 2013 /CNW/ - Vista Gold Corp. ("Vista" or the "Company") (NYSE MKT and TSX: VGZ) announced today that it is the Company's policy not to ...
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Junior exploration roundup: Chinalco Yunnan Copper, Samex ... Business News Americas
Brisbane-based Chinalco Yunnan Copper Resources (ASX: CYU) began drilling at its Sulfato copper project in Chile, the company said in a statement. Chinalco ...
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North Sur Resources Inc.: Surface and Drill Sampling Commences ... Junior Mining Network
CALGARY, ALBERTA--(Marketwired - Sept. 26, 2013) - North Sur Resources Inc. (TSX VENTURE:NST) ("North Sur" or the "Company") is pleased to announce ...
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Market movers: Archipelago Resources, Advanced Computer ... Proactive Investors UK
Junior gold companies have felt the heat of falling commodities prices, putting the livelihoods of many under threat. But Archipelago has proved that investors ...
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Thursday, September 26, 2013

Commentary on Yesterday's Vancouver Junior Mining Seminar

The seminar had the title:
Calm After the Storm—A Return to Normality in the Mining Sector

Yesterday I went to listen to the insights implied in the title.

This was perhaps the strangest seminar I have ever been to.

The room was full of people including many who've seen at least three cycles (excepting the unusual number of TSX people including at least one "Compliance Officer...I wonder what they were there for?).  The stage contained people for whom this is the first cycle they've ever seen (not been through as this one is not over).

So the stage held a bunch of juniors—just kids new, really—to the industry sitting in front of senior investors and brokers and others who work directly for the industry as well as bunch of shills for the regulators.

It was embarrassing to have thought that they would offer any insight or ideas (other than how to save $50 bucks here and there and, of course, the warning-speak from the two regulators on the stage) about the condition, cause or way forward in this market.

The title and the lack of information implied in the title says it all.  They are clueless—and we wasted our time.  If this represents in any way the leadership for the future of the junior mining sector we are all in huge trouble.

Six 'guys' the venue set-up guy, the auditor guy, the TSX Venture guy, the Lawyer guy, the BCSC guy, the Investment Advisor guy and the Executive search guy.   Hmmmm. 
The Cambridge guy grew up in the sector and had a picture of the two BreX bad guys in his house with text underneath saying "Lest we forget".

The Auditor guy announced he'd just ditched his Blackberry for the latest iPhone and preceeded to offer minor savings on audit fees if you bought a $230 CICA book.

The TSX Venture guy had the worst graphics—illegible with lots of missing data—recited listings and fund raising statistics, and the usual stuff that pretty much everyone in the room already knew years ago.

The Lawyer guy talked about Director's liability insurance (in other words it's going to get worse so cover your a**?).

The BCSC guy offered alitany of various threats and which ones were worse that others after which he said he was going to offer some positive stuf—he said how there were going to reduce the number of filings to twice a year but that they weren't going to.  What???

The Investment Advisor guy was going to tell us hao we got here and proceeded only speak about the sector only saying that the American downturn didn't help and that share roll-backs were probably a good idea.

The mining sector Executive Search guy did a stand up comic routine with his facts and figures saying you couldn't really trust them saying it was like George Costanza (Seinfeld) picking up women by doing the exact opposite of what he would normally do.

Calm After The Storm eh?  Isn't the phrase Calm Before the Storm?

What can I say. 

Gold Junior News Morning: 9/26/13

AngloGold Says Kibali Gold Mine Starts Early, Within Budget Junior Mining Network
JOHANNESBURG, SOUTH AFRICA--(Marketwired - Sep 25, 2013) - AngloGold Ashanti ( NYSE : AU) reports that the Kibali Gold Mine, a joint venture with ...
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Northern Gold Reports Results of Jonpol Metallurgical Testwork Junior Mining Network
TORONTO, ONTARIO--(Marketwired - Sept. 26, 2013) - NORTHERN GOLD MINING INC. (TSX VENTURE:NGM) ("Northern Gold" or the "Company") is pleased ...
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Candente Gold Update on Historic El Oro Tailings Recoveries Junior Mining Network
In June, 2013 (Candente Gold NR025) Candente Gold Corp's Mexican subsidiary, Minera CCM El Oro Jales S.A. de CV, signed an agreement for the access ...
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Entree Gold 2013 Drill Results Extend Ann Mason Mineralization Junior Mining Network
Ann Mason hole EG-AM-13-035 intersected 220 metres (from 262metres depth) averaging 0.30% copper, 0.07 grams per tonne ("g/t") gold and 1.70 g/t silver.
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Delta Gold Corporation Amends Imperial Gold Project Option ... Junior Mining Network
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 25, 2013) - Delta Gold Corporation (the "Company or Delta") (TSX VENTURE:DLT) is pleased to ...
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Minera IRL Receives Approval to Develop the Ollachea Gold Project Junior Mining Network
LONDON, UNITED KINGDOM and TORONTO, ONTARIO--(Marketwired - Sept. 26, 2013) - Minera IRL Limited ("Minera IRL" or the "Company") (TSX:IRL) ...
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Maritime Extends Rumbullion High Grade Gold Vein at Green Bay ... Junior Mining Network
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 25, 2013) - Maritime Resources Corp. (TSX VENTURE:MAE) ('Maritime' or the 'Company') reports that ...
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AngloGold's Tropicana Produces First Gold Ahead of Schedule and ... Junior Mining Network
JOHANNESBURG, SOUTH AFRICA--(Marketwired - Sep 26, 2013) - AngloGold Ashanti ( NYSE : AU) is pleased to announce that the Tropicana Gold Mine in ...
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Wednesday, September 25, 2013

Gold Junior News Morning: 9/25/13

Is High Frequency Trading Really Fraud Perpetuated by the Fiat Banking Community in Collusion with the Present Management of World Stock Markets?

Today's News:

Coastal Gold Intersects 4.95 Grams Gold Per Tonne Over 14.9 ... Junior Mining Network
Hole HB13-116 intersected 4.95 grams gold per tonne (g Au/t) over a core ... to the underground void model, will help increase the gold resource at Hope Brook.
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Expedition Mining Commences Trenching Program on Long ... Junior Mining Network
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 24, 2013) - Expedition Mining Inc. (TSX VENTURE:EXU) (the "Company") is pleased to provide this ...
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TNR Gold Corp. Advises of McEwen Mining's Updated Preliminary ... Junior Mining Network
Vancouver B.C., September 24, 2013: TNR Gold Corp. (the "Company" or "TNR") advises that McEwen Mining Inc. (NYSE:MUX, TSX:MUX) ("McEwen Mining") ...
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Integra Gold Increases Indicated Resources 304% at the Lamaque ... Junior Mining Network
Three additional areas being drilled in 2013 are not included in the present resource disclosure: No. 3 Mine, Triangle South and No. 5 Plug zones; will be ...
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Oceanus Drills High Grade Gold at the La Lajita Property in Mexico Junior Mining Network
HALIFAX, NOVA SCOTIA - September 24, 2013 - Oceanus Resources Corporation (TSXV:OCN) ("Oceanus" or the "Company") is pleased to announce that ...
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Orefinders Sampling Identifies High Grade Gold Targets at MZ ... Junior Mining Network
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 24, 2013) - Orefinders Resources Inc. (TSX VENTURE:ORX) is pleased to announce that the ongoing ...
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Corvis Gold, Inc. (CORVF.PK): Corvus Gold: The Next Great Nevada ... Seeking Alpha
There aren't many junior gold mining companies out there that possess the potential that Corvus Gold (CORVF.PK) does. When I study the prospects of the ...
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Alhambra Diamond Drilling Intersects Best Gold Drill Intercepts to ... Junior Mining Network
Diamond drilling has intersected higher-grade gold mineralization in DDH 28-08 that yielded a weighted average grade of 4.75 grams per tonne gold ("g/t Au") ...
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Paramount Gold and Silver Corp. to Present at Denver Gold Forum Junior Mining Network
The Denver Gold Forum is an invitation only investment conference for fund and portfolio managers, institutional investors and analysts and executive ...
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Tuesday, September 24, 2013

Gold Junior News Morning: 9/24/13

TORONTO, CANADA--(Marketwired - Sept. 24, 2013) - Seabridge Gold (TSX:SEA) (NYSE:SA) announced today that additional drilling of the Deep Kerr core ...
DENVER, CO--(Marketwired - Sep 24, 2013) - Thompson Creek Metals Company Inc. ( NYSE : TC) (TSX: TCM) ("Thompson Creek" or the "Company") today ...
GDXJ (Market Vectors Junior Gold Miners, Expense Ratio 0.54%) is smaller in size with $1.3 billion in AUM and focusing as its name suggests on small-cap ...
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 23, 2013) - Rokmaster Resources Corp. (TSX VENTURE:RKR)(LMA:RKR) ("Rokmaster" or the ...

Manado Options Takla Property Junior Mining Network
September 24, 2013 - Vancouver, British Columbia, Manado Gold Corp. ("Manado") (TSX-V: MDO) is pleased to announce that it has entered into an option ...
WestKam Gold Corp. (TSX VENTURE:WKG) ("WestKam" or the "Company") is pleased to announce the commencement of a fall field program on the Company's ...
INDIALANTIC, FL (September 23, 2013) - (ACCESSWIRE) - Spartan Gold Ltd. ("Spartan") (OTCBB: SPAG), a U.S. based junior gold exploration company, ...
New Carolin Gold is a Canadian-based junior mineral exploration and ... to several historic small gold producers including the Carolin Mine, Emancipation Mine, ...
  Sage Executes Share Exchange Agreement    vJunior Mining Network
 23, 2013) - Sage Gold Inc. (TSX VENTURE:SGX) ("the Corporation" ) has entered ...  
 investment opportunities in the junior mining and natural resource sectors. ... the main 
 market for listed securities on the London Stock Exchange ("LSE") and ...
  See all stories on this topic »


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