Thursday, December 19, 2013

Let's criticize the "professional" geologists' community some more

IKN - more on Aurcana.

I'm sure he won't complain if I quote the post in is entirety:

Instead of pointing the finger at the bullshit liar Lenic Rodriguez this time (though he's still as guilty as fuck of being a bullshit liar, that hasn't changed a jot) let us expand our catchment of the liars and bullshitters that populate this sorry tale that is Shafter.

Step forward, Jack W. Burgess, PE, of 165 Windover Lane, Corrales, New Mexico 87048, United States of America. Jack Burgess and his company, JB Consulting, is the man responsible for the 267 page work of fiction known as the 2011 Shafter Feasibility Study, the very study that contained key data described as "an inconsistent predictor of tons and grade" by AUN.v on December 12th 2013 (yup, we had to wait that long for those AUN fuckers to hire somebody who was reliable and had the guts to speak truth to power) and that once a re-do of the 43-101 were complete it would result in "...a significant reduction in the aggregate mineral resource estimate as compared with the mineral resource estimate contained in the June 2011 amended feasibility study".

So, close-knit mining community, can you see to it that Jack Burgess is struck off for being a liar? Or will it be just another case of you self-serving pieces of shit passing the blame from one desk to another and nobody is responsible for your pisspoor system?

Strong words from someone who actually has friends who are professional geologists!

But yeah. Perhaps someone like Garth Kirkham, P.Geo, 43-101 QP, CIM Best Practices Committee Chair, can explain what process will now be instituted by the "profession" to determine whether JB Consulting produced a competent FS.


  1. I heard through many silver circles that the Shafter mine was crap...never once was an analyst ever invited to tour the mine. Lenic was not very well respected and considered a bullshitter

  2. That's how you corrupt the 43-101 process, or at least one of many ways I guess. Hire a schill geo and suddenly your shaft is a GOLD MINE!! Or silver or whatever.

  3. Excerpt from Shaoul on the FOMC minutes:

    We have already seen that the FOMC is hopeless at tracking an employment cycle, which ran way ahead of expectations once it was formally targeted causing much linguistic gymnastics in recent months as well as considerable turbulence in the bond market. For FOMC guidance to now be worth anything the ability to accurately forecast inflation is now imperative, and of course there is no reason to believe that the very same people who blew the employment call will prove any better at judging the inflationary cycle.

    From our perspective it would be logical for the US economy to continue to heal rapidly, with certain sectors and geographical areas reaching full employment far ahead of schedule leading to typical mid-cycle pressures on input costs, particularly labor. How this actually affects the official measurement of CPI is hard to gauge given the strange make up of this statistic, but it should become increasingly obvious that inflationary pressures (in terms of both asset price and cost inputs) are building in the months ahead.

  4. i have no friends. i have sources who think i'm a friend.

  5. So a bankable feasibility study is just a well formatted and über designed guesstimate. No wonder that most investors are turning their backs on the sector, and they won't be back in a hurry.