When David Kelley and Chakana (PERU.v) landed in Peru nearly four years ago, he didn’t known much Spanish and didn’t know much about the seedy side of Canadian explorecos, either. This desk doesn’t have any intel on how his Spansh has come on, but my stars he’s been a quick riser on the exploreco promo learning curve!
Take for example today, getting a 10% pop out of this NR and its headline, “Chakana Reports Significant Intercepts at Soledad, Peru Including 46M of 5.64% Copper, 592.9 g/t Silver and 0.36 g/t Gold Provides Update on Resource Drilling”. Big wide intercept, right? Grades sounds way cool, right? People, this was a Vancouver pump special, built for Twitter Morons who just bought somebody else’s bag. The first hint of just how splashy today’s headline is (and pencil me in at the “Orca drenches Seaworld audience” level) is in the NR itself, with CEO Kelley telling us “…definition holes for Bx 1 are excellent as expected and consistent with previous drill results.” Wait, what… Bx1? Why, isn’t that the very first target you people drilled at Soledad way back in 2018, mainly because it had that happy combo of 1) will grade for sure and 2) it’s under the open drill permit? Why…
…yes it is! And here we are, three and a half year later, and all PERU.v can do to pump the upcoming maiden resource (from just three of the pipes, sure to get pumped as the proverbial “snapshot in time”) is to drill that first target again. We get “definition drilling” on a hole specifically designed to provide a pump in Labor Day week.
And on the subject of the upcoming Soledad resource, even with a number at the end of the year, will PERU and its legion of paid pumpers explain how many tens of thousands of metres are required into every one of those pipes in to turn a magical thinking inferred number into MI+I, i.e. something Gold Fields (GFI) or anyone in Serious Mining World would consider? Like it says at the top, David Kelley, your Spanish may not have come on a ton but you sure have learned how to run a Vancouver exploreco. You must be proud, first get ripped off yourself (in true Dumb Gringo style, too, embezzled for half a million by his Country Manager!), then you take revenge by ripping off the Canadian investment community with BS and hidden agendas.
Here’s a confident PERU.v prediction: We all know GFI doesn’t give a rat’s hind quarters for the breccia resource and only cares about the deep porphyry potential, so expect PERU shares to dump once the cruel reality of its maiden resource and its remaining treasury are understood. At that point, the 2022 budget and program gets re-worked to “focus on the exciting targets at depth...”. Lather, rinse, repeat and CEO Kelley gets to buy another classic vintage car for his collection next year, too.