Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Tried to get 100 shares of MCID in 2 diff accts at .05 and they were rejected by Etrade. I guess since there is no bid or ask and hasn't traded in forever I will have to wait until it opens....another round up for 100 shares on 40 to 1 RS
Still waiting on last round up for NWMO shares with etrade
Posted by: MagneticMicrospheres
In reply to: None Date:5/23/2007 10:43:39 PM
Post #of 132404
Round up...
MCID interesting no B/A and no current price, but filing today Pre 14C...
effect a reverse stock split whereby all outstanding shares of the Company's $.001 par value common stock ("Common Stock") will be reverse split on a 1-for-40 share basis, with no shareholder who holds at least 100 shares prior to the Reverse Stock Split receiving less than 100 shares after the Reverse Stock Split... Link below...
http://tinyurl.com/35wl5x
Are we there yet, jeeez, wake me up monday I guess
thanks Parker for your DD....very interesting....too bad Natural Resource Recovery is private as I would buy some of it too
Voyager Announces Third-Party Purchase of Convertible Debentures
Tuesday May 22, 11:46 am ET
HINSDALE, Ill., May 22, 2007 (PRIME NEWSWIRE) -- Voyager Petroleum, Inc. (OTC BB:VYGO.OB - News) announced today that an unaffiliated third-party investor has purchased $750,000.00 plus interest of Voyager's outstanding convertible debentures with Cornell Capital Partners LP and Trey Resources, Inc. The transaction closed on May 15, 2007 according to the Company's quarterly statement filed yesterday with The Securities and Exchange Commission, where additional information can be found.
About Voyager Petroleum
Voyager Petroleum, Inc. intends to acquire reputable middle market
petroleum-based lubricant companies that refine, blend and bottle private label
motor oil and related products as well as acquire facilities to conduct like
operations. Acquisition candidates also include suppliers and distributors of
these products.
The Company's strategy is to target companies with established
wholesale and third party labeled products, regional distribution channels and
seasoned management that would recognize increased revenue and/or significant
cost savings from an injection of working capital, wider distribution channels
and vertical integration of supply, processing, packaging and distribution.
RECENT DEVELOPMENTS
In January, 2007, the Company signed a purchase agreement for a waste
oil reclamation facility in Detroit, Michigan. The total purchase price of
$750,000, less a $35,000 deposit held in escrow, is to be paid at closing which
is to occur at the Company's discretion on or before July 13, 2007 by way of a
second amendment to the original agreement which allows additional time for
completion of due diligence. The 20,000 square foot facility which will be used
to process reclaimed used oil sits on 3.5 acres of land and consists of a
warehouse, a processing facility and offices with on-site railroad and truck
access. The plant houses 22 outside storage tanks and 32 inside storage tanks
for a total storage capacity of 718,000 gallons. The Company has completed a
Phase II environmental site assessment of the property for approximately
$75,000 via an access agreement with the subtenant which was effective to
March 31, 2007. As of April 1, 2007, Voyager is subleasing the property from
the subtenant for $4,000 per month plus utilities, repairs, maintenance, taxes
and assessments during the lease term which expires on the earlier of August 1,
2007, the closing of the purchase or termination of the purchase agreement
without a closing. On May 15, 2007, the Company filed its Baseline
Environmental Assessment with the Michigan Department of Environmental Quality.
On March 19, 2007 Sebastien DuFort, both personally and as President of
the Company, executed a two year lease for larger corporate office space
beginning April 1, 2007 located at 123 East Ogden Avenue-Suite 102A, Hinsdale,
Illinois 60521 at $2,600 a month subject to a 5% inflation adjustment for the
second year plus payment of electrical and gas. The effective date of relocation
will be April 15, 2007.
On March 23, 2007, the Company formed a wholly-owned subsidiary,
Sovereign Oil, Inc., a Nevada corporation, to run its Illinois operations. Our
President, Sebastien C. DuFort will also serve as the President of Sovereign Oil
as well. To assist Mr. DuFort, Sovereign Oil recently hired Richard Stiefel, who
has over fifty years experience in the petroleum industry to serve as Vice
President. Mr. Stiefel was a founder of and built one of the largest independent
oil companies in its time. Prior to coming to Voyager, Mr. Stiefel blended and
packaged in excess of 400,000,000 quarts of oil annually, this included
blending, packaging, and distribution for three major brands as well as
marketing private label oil. Mr. Stiefel signed a standard employment agreement
with the company for an unspecified term.
On April 19, 2007, Sovereign Oil entered into a lease agreement with
North American Refining Co., a local compounding and blending facility with
packaging capabilities. Sovereign Oil intends to blend, compound and package oil
products at this facility which will be sold to the automotive and industrial
after-markets. The Company intends to hire one to two employees to work at this
location.
25
morning anyone like CLRX now that they lost the Q
A small zoo in Tennessee obtained a very rare species of gorilla.
Within a few weeks the gorilla, a female, became very
difficult to handle.
Upon examination, the veterinarian determined the problem. The
gorilla was in heat. To make matters worse, there was no male
gorilla available.
Thinking about their problem, the zoo keeper thought of
Bobby Lee Walton, a redneck part-time worker responsible for cleaning
the animal cages.
Bobby Lee, like most rednecks, had little sense but possessed ample
ability to satisfy a female of any species.
The Zoo Keeper thought they might have a solution. Bobby
Lee was approached with a prop osition. Would he be willing to mate
with the gorilla for $500?
Bobby Lee showed some interest, but said he would have to think the
matter over carefully. The following day, he announced that he would accept
the offer, but only under four conditions
1. "First", Bobby Lee said, "I ain't gonna kiss her on the lips."
The keeper quickly agreed to this condition
2. "Second", he said, "You can't never tell no one about this."
The keeper again readily agreed to this condition.
3. "Third", Bobby Lee said, "I want all the children raised Southern
Baptist." Once again it was agreed.
4. And last, Bobby Lee said, "I'll need another week to
come up with the $500.
THE CRUISE
DEAR DIARY. DAY ONE
I am all packed and ready to get on the cruise ship. I've packed all my pretty dresses and makeup. I'm really excited.
_______________________________________________
DEAR DIARY. DAY TWO
We spent the entire day at sea. It was beautiful and we saw some whales and dolphin s. What a wonderful vacation this has started to be. I met the Captain today and he seems like a very nice man.
_______________________________________________
DEAR DIARY. DAY THREE
I spent some time in the pool today. I also did some shuffle boarding and hit some golf balls off the de ck. The Captain invited me to join him at his table for dinner. I felt honored and we had a wonderful time. He is a very attractive and attentive gentleman.
_______________________________________________
DEAR DIARY. DAY FOUR
Went to the ship's casino ... did OK ... won about $80. The Captain invited me to have dinner with him in his state room. We had a luxurious meal complete with caviar and champagne. He asked me to stay the night but I declined. I told him there was no way I could be unfaithful to my husband.
_______________________________________________
DEAR DIARY. DAY FIVE
Went back to the pool today and got a little sunburned. I decided to go to the piano bar and spend the rest of the day inside . The Captain saw me and bought me a couple of drinks. He really is a charming gentleman. He again asked me to visit him for the night and again I declined. He told me that if I didn't come to his cabin for the night, he would sink the ship. I was appalled.
_______________________________________________
DEAR DIARY. DAY SIX
I saved 1600 lives today... Twice
I talked to Larry yesterday and its the new server and should be fixed by Mon I would think. He is coming to MS in June and we are going to meet. He is meeting some distributors here and I recommended meeting at a MS Braves gane (AA Atlanta team) as they are playing the AA San Diego team. Relayed my utter disappointment and some things are happening for the good if they are true, and I really can't afford not to beleive him LOL
CNWI.PK, formerly CAPP (Caspian Energy), then CPNY on 11-1 RS leaving about 2mm shares for CNWI (Cardiac Network INC). Confirmed with Atlas transfer that Michael Anthony is person responsible. What's his track record? Not a shell anymore as of last week but very few shares
I think it was your mention a while back on AQCY that I am holding a few now....dormant for quite a while and does seem to be waking up....good pick Pat
I do not see a current OS or AS for JMCP.PK but he talks about creating a Royalty Trust with 45 billion shares. I do not see any RS. Is this company a joke? I guess they have $1mm and its their problem about the share structure. I would assume he has preferred shares since he states he has no common shares LOL It will be a rather large buyback with 45Billion shares and no RS
James Monroe Capital Corp. Explains the $270 Million Dollars Worth of Waste/Sludge Oil Deal and Royalty Trust
Thursday May 10, 2:14 pm ET
KILLEEN, Texas--(BUSINESS WIRE)--James Monroe Capital Corp. (Pink Sheets:JMCP - News) President, Frank Love states, "The Company is in negotiations to form a strong alliance through our Joint Venture with a US company having operations in the oil and gas industry of the Russian Federation, to participate in this very lucrative market. Closing this agreement will be one heck of a first cast of the net for James Monroe Capital Corp. into the Oil & Gas market. The Company having access to oil waste that could generate several $100 Million dollars of revenue, contained in above ground pits was a second awesome cast of the net. When we were notified of the potential to acquiring rights to oil wastes sites is practically unlimited, we were absolutely floored.
ADVERTISEMENT
The oil waste sites the JV will be pursuing initially, are ones that are mainly an oil and water mixture, where the water is spun out via a mobile centrifuge plant that can process at least 10 metric tons per hour, this equates to roughly 40-50 barrels of waste oil per hour, per centrifuge plant. Mobile centrifuge plants cost roughly $500K each and can be easily moved from location to location via 18-wheeler transports and are operated by a two-man crew. Today's oil prices in the $60 per barrel range equate to potentially substantial gains."
Frank Love explains the Royalty Trust, "The James Monroe Capital Corp. Royalty Trust will be a balanced mix of James Monroe Capital Corp. revenue producing oil properties, located throughout the world, Gas & Oil royalties like Sabine Basin Royalty (SBR), Energy Trusts such as Prime West Energy (PWI), and Pengrowth Energy Trust (PGH). This allows our royalty trust to earn revenues in the form of dividends, interest and royalties from the various operations and joint ventures we participate in whether in North America or across the globe in Russia.
"By having these NYSE Blue Chip REITs, Royalties and Trust embedded into the James Monroe Royalty Trust, with each paying dividends month after month, year after year and in some cases decades. We establish our James Monroe Capital Corp. Royalty Trust with the power of the NYSE as our foundation."
Frank Love further states, "June 1, 2007 will be another great milestone for James Monroe Capital Corp. Having any and all short positions closed from that date forward, because nobody wants to be caught short when your dealing with dividend paying NYSE; REITS, Royalties and Trust, will allow us to see an actual picture of what our stock will look like as we move into the buy back phase of our companies common shares. We will announce our monthly buy backs via a press release and only buy back shares in the open market. Our transfer agent, 1st Global Transfer Agency, will then cut a treasury certificate for the retired shares of which will be publicized as retired with certificate number. We will not reverse split our stock."
For the record Frank Love states, "I own no common shares, I have money that I made with my other business ventures. I will only take pay once this company is profitable. This is the way I do business. When I took the position as President of James Monroe Capital Corp. there were 45 Billion shares issued and basically no assets left in the company and the stock sitting at .0001. I feel James Monroe Capital Corp. is strategically positioned to carry our company and extremely loyal shareholders well into a very successful future."
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Contact:
For James Monroe Capital Corp.:
Harold Engel, 254-458-0473
info@chinookinvestmentgroup.com
20k traded PM at .165
Maybe one to watch is CNWI
Understand that my position was from a large holding of CAPP that wound up averaging around $.44 after RS.
I have posted about CAPP reverse splitting into CPNY and now CNWI (Cardiac Networks). The way I figured it, Less than 2mm shares after 11 to 1 RS of CAPP. I will set a sell for 1000 shares each day above the ask for the last few days. today opened at 70x.80 so I put order in for 1000 at .90, I have done this for 5 days, selling a thousand to 2500 shares entered at .10 above the ask and always filled. Makes me think it is real thin. It's now $1 x 1.50 so this may be a PPO I googled or maybe (I hope) it is Heartlab, a fast growing private company. either way I'll take it as I slow bleed my position. trying to get Atlas Stock Trans to to tell me who Cardiac Networks is but they are all in a meeting
I have posted about CAPP, CPNY and now CNWI (Cardiac Networks). The way I figured it, Less than 2mm shares after 11 to 1 RS of CAPP. I will set a sell for 1000 shares each day above the ask for the last few days. today opened at 70x.80 so I put order in for 1000 at .90, I have done this for 5 days, selling a thousand to 2500 shares entered at .10 above the ask and always filled. Makes me think it is real thin. It's now $1 x 1.50 so this may be a PPO I googled or maybe (I hope) it is Heartlab, a fast growing private company. either way I'll take it as I slow bleed my position. trying to get Atlas Stock Trans to to tell me who Cardiac Networks is but they are all in a meeting
I would rather see updated Qs to get this rocking
PRO was halted yesterday for news pending....Tier2 company
Market Regulation Services - Trading Halt - Pershimco Resources Inc. - PRO
Thursday May 10, 10:20 am ET
VANCOUVER, May 10 /CNW/ - The following issues have been halted by Market Regulation Services (RS):
Issuer Name: Pershimco Resources Inc.
TSX-V Ticker Symbol: PRO
Time of Halt: 10:01 EST
Reason for Halt: Pending News
For further information
Market Regulation Services Inc., (416) 646-7299
May 24 at 4:15pm
Press Release Source: Tara Gold Resources Corp.
Trenching Extends San Miguel Mineralized Zone 1,380 Meters Along Strike to the South With Assays up to 282 g/t Silver, 1.2 g/t Gold and 1.38% Lead/Zinc
Thursday May 10, 7:00 am ET
CHICAGO, IL--(MARKET WIRE)--May 10, 2007 -- Tara Gold Resources Corp. (Other OTC:TRGD.PK - News) and (Frankfurt:T8N.F - News) is pleased to announce trenching results from the ongoing San Miguel exploration program. The ten trenches, reported below, are located in the Santa Clara zone, which is adjoining and up to 1,380 meters along strike to the south of the La Union zone where drill results included 105.35 meters averaging 1.45% zinc, 0.52% lead, 28 g/t silver and 0.26 g/t gold in hole LU-09 (see news release dated November 8th, 2006).
ADVERTISEMENT
In August 2005, Tara Gold Resources signed an agreement with Paramount Gold Mining Corp. giving Paramount the right to earn up to a 70% interest in the project by spending US$2.5 million, delivering 700,000 shares, and making various payments to Tara Gold, which has now been earned.
Trenches 01 through 10 span approximately 375 meters and identified the Santa Clara zone on surface and along strike for approximately 300 meters. At the south end, trench ZSC-06 reported 5.7 meters of 1.24 g/t gold, 101 g/t silver with 0.42% combined lead/zinc and is located approximately 1,380 meters south of and along strike from drill hole LU-09 in the La Union zone (one of the most southerly reported drill holes to date). ZSC-02 is approximately 20 meters north of ZSC-06 and reported 4.3 meters of 1.2 g/t gold, 282 g/t silver with 1.38% combined lead/zinc. Intersections of 3.0 to 4.0 meters continued to the north in ZSC-09, ZSC-08 and ZSC-04 until reaching ZSC-03 approximately 225 meters north of ZSC-2 where the zone widened to 12.1 meters averaging 0.2 g/t gold and 153 g/t silver, including 6.1 meters of 0.20 g/t gold and 224 g/t silver. Another 60 meters north of ZSC-03 is ZSC-10 the most northerly trench in this zone and reported 3.0 meters of 95 g/t silver. ZSC-10 is approximately 1,080 meters from La Union drill hole LU-09. The trenches are exploratory in nature, through thin overburden and as such trenches 01, 05 and 07 missed the zone and reported no values.
Paramount's Manager of Exploration in Mexico, Bill Reed, commented: "I am very pleased that our trenching and drilling programs are consistently identifying mineralization along the entire strike length that we have explored thus far. These latest trench results at Santa Clara compare very well with earlier trenches from the La Veronica, San Antonio, San Jose and La Union zones, and constitute the discovery of another new mineralized zone. The surface expression at Santa Clara does not appear to be as wide as other zones, but more importantly, this could possibly extend the total strike length of the system about 1,380 meters to the south and it remains open in all directions. Part of our exploration program this year will include drill testing the newly discovered Santa Clara zone."
The highlights of the trenching include:
ZSC-02 - 4.3 meters of 1.2 g/t Au, 282 g/t Ag with 1.38% combined lead/zinc
ZSC-03 - 12.1 meters averaging 0.2 g/t Au and 153 g/t Ag
including 6.1 meters of 0.20 g/t Au and 224 g/t Ag
ZSC-04 - 4.0 meters of 0.09 g/t Au and 49 g/t Ag
ZSC-06 - 5.7 meters of 1.24 g/t Au, 101 g/t Ag with 0.42% lead/zinc
ZSC-08 - 3.0 meters of 0.11 g/t Au, 68 g/t Ag with 0.39% lead/zinc
ZSC-09 - 4.0 meters of 0.13 g/t Au, 41 g/t Ag with 0.23% lead/zinc
ZSC-10 - 3.0 meters of 95 g/t Ag with 0.08% lead/zinc
The trenches are excavated to a depth of 2-3 meters and extend from west to east across the quartz veins and stockwork quartz veins that host silver and gold mineralization in the Guazapares mining district. The trenches were cut through thin overburden to better define drill targets and spaced approximately 50 to 75 meters apart. The geology of the trenches is mapped in detail and continuous rock chip samples of no more than one meter in length are collected from the trench walls.
A location map of these trenches can be found on Paramount's web site.
Area Trench From To Interval Au Ag Au Eq. Lead Zinc
meters meters meters g/t g/t g/t % %
----- ------ ------ ------ ------ ---- --- ----- ---- ----
Santa ZSC-01 No Values
Clara
Santa ZSC-02 2.00 6.30 4.30 1.20 282.00 5.90 0.91 0.47
Clara
Santa ZSC-03 21.00 27.00 6.00 0.20 82.00 1.56 0.03 0.02
Clara 27.00 33.10 6.10 0.20 224.00 3.73 0.03 0.06
0.00
21 33.1 12.1 0.2 153 2.76 0.03 0.04
Santa ZSC-04 17.00 21.00 4.00 0.09 49.00 0.90 0.07 0.08
Clara
Santa ZSC-05 No Values
Clara
Santa ZSC-06 29.7O 35.40 5.70 1.24 101.00 2.92 0.28 0.14
Clara
Santa ZSC-07 No Values
Clara
Santa ZSC-08 22.50 25.50 3.00 0.11 68.00 1.24 0.24 0.15
Clara
Santa ZSC-09 37.00 41.00 4.00 0.13 41.00 0.81 0.07 0.16
Clara
Santa ZSC-10 29.00 32.00 3.00 0.00 95.00 1.58 0.02 0.06
Clara
C.W. (Bill) Reed, B. Sc. Mineralogy, is the qualified person for Paramount, the operator at San Miguel, and has prepared the detail and review with respect to this news release.
About San Miguel
San Miguel is currently comprised of 16 concessions covering a +8 km long structural zone that hosts silver and gold mineralization. The concessions also include other structural zones that host mineralization but have not yet been tested. It is located in Chihuahua, Mexico and lies in the Guazapares mining district, part of the gold-silver belt of the Sierra Madre Occidental. Paramount signed an agreement in August 2005 with Amermin S.A. de CV, a subsidiary of Tara Gold Resources, and has earned a 70% interest in the San Miguel project.
About Tara Gold Resources Corp.
Everyone seems to be hoping for a hurricane. Remember Katrina and Rita's effects not just on many peoples lives but on everyones' pocketbooks in the sense of higher gas prices and bailout of New Orleans and the Gulf Coast? The US does not need any more catastrophic hurricanes or reduction in oil and gas supply. If our facility is on the channel in Houston a minor hurricane could put the facility underwater and out of business for months. I live in MS and you do not want to hope for a hurricane with any type of storm surge with the location of our facility. If I see another Rita cat 3 possibly heading for Houston I will sell. Why not root for expanded business only as I am sure we are backlogged as it is, and we would not be able to possibly fill orders from a major hurricane. Let's not wish for another disaster season just so your stock may go up a little.
Tara Gold Expands Las Minitas Property Interests
Wednesday May 9, 9:15 am ET
CHICAGO, IL--(MARKET WIRE)--May 9, 2007 -- Tara Gold Resources Corp. (Other OTC:TRGD.PK - News) (Frankfurt:T8N.F - News) is pleased to announce that it has added additional concessions adjoining to the Las Minitas Property portfolio. Tara Gold now acquired and paid for a 100% interest in 3 new concessions totaling approximately 6,449 hectares, which increases the total contiguous land position to approximately 7,275 hectares . Las Minitas lies at the western edge of the province known as the Sierra Madre Occidental gold-silver belt where a number of successful gold/silver exploration projects are ongoing.
ADVERTISEMENT
The National Instrument 43-101 Qualifying Property Report, delivered to Tara by Michael Sandidge, P. Geo., a qualified person, as defined under National Instrument 43-101, recommends that additional work should be undertaken to increase the level of knowledge of mineralization at Las Minitas.
Mr. Francis Biscan Jr., President of Tara Gold Resources stated, "We now have 100% control of a larger prospect that has seen some historical success. Las Minitas requires systematic exploration to better determine its potential. We will consider all of our options to confirm historical results and test a number of targets found on the property."
Cautionary Note
The tonnages, grades, assays, drill intercepts, production figures and other technical data, with the property report, are taken from historical records prior to the implementation of NI 43-101. While the data is believed to have been acquired, processed and disclosed by persons believed to be technically competent, it is unverifiable at present. The data source for the Las Minitas property is largely the 1995 Report by D.B. Peterson. Tara Gold is not treating the historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and the historical estimate should not be relied upon.
About Michael H. Sandidge, P.Geo.
Michael Sandidge is a qualified person, as defined under National Instrument 43-101. He has a Masters degree in Geological Sciences from the University of Texas at El Paso and has participated in seventeen professional publications and presentations before scientific societies focusing on tectonics, structural geology, metallogenesis, and paleontology. He also has extensive experience in Mexico and is familiar with historical and current work in the region. Michael does not have any relationship with Tara Gold or its affiliates.
About Tara Gold Resources Corp.
I stll have all my shares and I am just another lurker as well. I expect to hold for at least 1 yr for tax reasons
CAPP.PK did a reversee split of 11 to 1 into shell CPNY.pk. This am name change and symbol change to CNWI.pk Cardiac Network Inc at $.70. Should be around 2mm shares, but no news or info on new company, but has traded nicely going into it for the last week from $.40
CAPP RS into CPNY now CNWI.Pk Cardiac Network Inc FYI. Should be around 2mm shares. No info yet other than symbol and name change
check your rr. mail
I received a flyer on TCPS this weekend. I receive maybe a dozen a week and most appear P&D. This one intrigued me. They have a private company partner, picoChip (google them) that I would like to see go public. The set top boxes for internet to the TV in China will be huge. I think I will add some as funds become available. Financials don't look so hot but its a startup basiclly, and I like that there are only 37mm shares
http://finance.google.com/finance?q=OTC%3ATCPS
I also like TDON as a parameter changing stock FWIW
I mentioned VYGO.OB not long ago about recycling of dirty oil into private label oil and lubricants. Its been moving nicely in the last week. Nice 35% margins, contracts and facilities lined up are only running at 20% capacity. I have been adding on the way up
I like the news. La Currita is closer to production so I agree that focusing efforts there is wise. Notice the increase in monies to be spent on the project. Las Mintas has a lot of potential, but needs more work obviuosly so it is back in our property list. Maybe TRGD should do some drilling on its own and prove it up for a higher value on a JV.
Posted by: cl
In reply to: None Date:5/3/2007 7:46:07 PM
Post #of 1608
You guys see this?? -------------------------------------------
Canadian Mint Introduces Wheel-Sized Pure Gold Coin (Update3)
By Alexandre Deslongchamps
May 3 (Bloomberg) -- The Royal Canadian Mint today unveiled a gold coin that's as big as a car wheel and as thick as a hardcover novel, in a bid to help win business lost to global competitors.
The 100-kilogram (220-pound) coin, which is 99.999 percent pure gold, the largest and purest piece ever made, was shown to reporters for the first time today at the mint in Ottawa. While each coin has a face value of C$1 million ($900,000), the purity and quantity of the bullion gold they're made of makes them worth more than twice as much, based on current prices.
``The only word I can come up with is, `Wow!''' Lane Brunner, deputy executive director of the American Numismatic Association's Money Museum in Colorado Springs, Colorado, said of the new Canadian coin. ``Something like this is, I don't want to say beyond comprehension, but it's pretty darn close.''
The 100-kilogram coin and a standard-sized version with a C$200 face value were designed to help regain market share from facilities in Australia, Austria, China and the U.S. that have started producing coins of similar quality. Canada's mint last year sold 296,100 ounces of gold bullion, a 10 percent drop from 2005. Trade in gold coins is estimated to be worth $3 billion worldwide.
``The Royal Canadian Mint faced a growing field of competitors,'' said Ian Bennett, the mint's president and chief executive officer. ``Minting gold bullion coins of 99.999 percent purity is our answer to that challenge.''
Market Value
Bullion coins are traded based on the market value of the gold they contain, rather than their nominal value. The face value acts as a guarantee, meaning an investor could ask the mint to exchange the coin for C$1 million if the intrinsic value ever dropped below that point.
Gold futures for June delivery rose $9.30, or 1.4 percent, to $684.40 an ounce today on the Comex division of the New York Mercantile Exchange.
Until today, the world's largest gold coin was ``Big Phil,'' a 31-kilogram piece that Austria's mint produced in 2004. That coin was about the size of a car's steering wheel.
The Royal Canadian Mint will issue a small number of the 100-kilogram pieces on a ``made to order'' basis for a ``limited'' time period, the mint said in a regulatory filing. Three have already been sold and the mint may sell as many as 10, Bennett said, after showing a promotional video describing the coin as ``100 kilos of the purest Canadian pride.''
``There's demand for this coin, it's one of a kind,'' said Nicholas Sarantes, vice-president of Santa Monica, California- based A-Mark Precious Metals Inc. The company bought three and plans to resell them for more than $2.6 million each. ``It's an amazing investment.''
$5 Million Nickel
The Canadian coin, while the world's largest, won't be the most valuable. According to the Money Museum's Brunner, a 1913 U.S. Liberty nickel just sold for $5 million.
Still, the Canadian government had to amend existing law to allow the mint to make a coin of such high value.
Brunner predicted the smaller version, called the Gold Maple Leaf series, will be popular with collectors.
``There is a race to capture market share, to produce coins that people really want to collect,'' he said. ``The Royal Canadian Mint has always been thought of as innovative. But in the past ten years, they've really come out as a leader worldwide. The technology that they use is just incredible.''
The mint is also displaying the new pieces at its other facility in Winnipeg, and is seeking other venues to show it off, Bennett said.
To contact the reporter on this story: Alexandre Deslongchamps in Ottawa at adeslongcham@bloomberg.net .
Last Updated: May 3, 2007 17:06 EDT
Coeur d'Alene Mines, Bolnisi and Palmarejo Announce Agreement to Merge in Transaction Valued at Approximately $1.1 Billion
To Create World's Leading Primary Silver Company
http://www.newswire.ca/en/releases/archive/May2007/03/c4458.html
CPNY..yes Pat and I don't know whats going on except I like it....its been a long hold
CPNY, formerly CAPP doing very nice on low volume....less than 2mm shares after 11x1 RM
those numbers are bonaza grade and hopefully will be reflected soon in share price for tara
Bought 100 shares of MPNC on RS news saying no lots would be reduced to less than 100 shares. This am it will trade at $25 as MWMO, but Etrade reduced my 100 shares to 1/3 of a share. LOL
on the phone now and they say I am correct and it has just not updated, but they agree I should have 100 shares
you have to be a paying member to put him on ignore unfortunately
to me that's great news.........reduction in shares is always good for the other shareholders. Tim may still be overpaid but for now at least I like it.
Mar 05 filing posted...steady as she goes
What makes you say that? He has been many times in the last year with precious little info given to long suffering shareholders. Why would this trip be any different? Sam has little regard for his shareholders from what I've seen.........