I'm just calling it as I see it. And, right on cue to company goes for the money. It's small but at least they quit humping the dog. I don't like companies that wait 2 months to report financials. There's no excuse for that. Failure top get paper work out in a timely fashion shows poor judgement or lack of skill. That would have been the next thing I would have hollered about. So this time poof, there it is. Should have been at the end of May and no later but I'll take it now.

All of the Pimco's are getting defensive. All of them. Corporate balance sheets are near bursting with cash and they are not spending a penny. Teck is indeed in talks with someone big. I don't think they should get in bed with Barrick. It should be Newmont. These discussions are required. Mineral co's have to get very big. Why is that? They could be take out targets but they might also be consolodating their positions to weather a great depression. Copper will get expensive because of supply and sale will be down because of demand. Mergers help in times like these.

The USA Fed is worried that printing another trillion might cause people to lose faith in their fiat. Sure, they might want to push the globe to gold but people remember confiscation. So that's too soon. A North American Trading Unit (dollar) is more likely. You don't need to wear a tin foil hat to smell that one. Bottom line is there is no way to pay the debt off.

Remember Canada in 1970? How much debt did we have? Z E R O! and now? Remember why we took on debt and what we got for it? You are old enough to know all this. Now ask yourself how much longer you will trust your dollar. Did you know that Greeks are quietly draining 1 billion a day out of their banks? Yup, 1 billion a day. Why do you suppose they are doing that. Must be because they are so proud of the Drachma and expect its return to glory. We almost never hear the truth via our news. But money never lies. They are not the only ones doing it.

But back to us. In May I took some off the table. Seems like that was the right call. Then I said June would be dead and July could be a total stinker. Seems like we are headed that way. So where does a guy turn to trade? Pilot Gold? Sure. And there's a few others out ther doing something other than the dog. At the start of the month we should have had our books in order and cash on the table. At this rate of progress there's no way in hell they can keep their commitments to us. Get the friggen lead out. If each item is going to add 2 weeks to the timeline we are looking at March 2013. Yup, I'm saying the FS will be late. Everything will be late. We won't even see aerial data until the end of July at this rate. We started off so good with the RE being on time I expected they would keep it up. DOH. Stupid me. I guess we hired idiots with a kite and polaroid to do the maps. GFC where's the maps.

BTW, if June doesn't pick up then July is going to really suck and that might set up a flash crash for August when the markets should be screaming along. If that become the story of the day we are headed into a depression worse than the last one. And, I think that's what the governments want. What Platt said about the EU applies equally to the USA. Our big bond guys don't want to lend anymore. So here comes a credit crunch. Does Elmer know this? Yes. So what on earth is he doing? Get SC sold and cash up the co. Without it we are dead in the water for a very long time. The company will be dilluted to death. Do you want to be part of a company with 700 million 20 cent shares? I sure the hell don't.