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no coal. I'm still in but lighter as I'm leaving on vacation for a while.
It got a pump from Tardiff (of Sprott) on BNN also
He mentioned the economics have now changed due to the newer multi frac technology.
OTOH he also didn't seem to 'get' that Potash One is a solution mining project.
POWERED BY POTASH ONE
FOS down .27 Support finally .. I stopped a lot just under 2.00. Still have 1/2 my position.
Anyone notice the U stocks today ?
doggie time.
KCL market depth 12:07
$5.64 27 4 $5.65 20 1
$5.63 44 5 $5.67 78 3
$5.62 130 5 $5.68 70 4
$5.61 83 7 $5.69 105 6
$5.60 3882 10 $5.70 347 16
$5.58 5 1 $5.72 168 4
$5.56 44 2 $5.74 6 2
$5.55 130 4 $5.75 145 12
$5.54 10 1 $5.77 8 1
$5.53 78 1 $5.78 10 1
yeah most did including me... but apparently technology rules again.. (maybe)
Sprott's Tardif was talking it up yesterday on BNN
Just heard CEO of Potash One to be on BNN in an hour :O)
Oh boy, now there's credibility... Is that like having David Perterson on the YBM Magnex board ;o)
# 12 is my favourite..
KCL Depth 3:45
$5.31 91 7 $5.34 45 3
$5.30 116 4 $5.35 227 4
$5.29 20 1 $5.38 319 2
$5.28 4 1 $5.39 25 3
$5.27 125 3 $5.40 80 5
$5.26 74 3 $5.42 31 2
$5.25 1500 4 $5.43 55 2
$5.24 8 1 $5.44 80 2
$5.23 20 1 $5.45 200 2
$5.22 20 1 $5.49 5 1
Depth on KCL
$5.28 4 1 $5.30 30 1
$5.27 145 4 $5.33 49 2
$5.26 145 4 $5.34 50 1
$5.25 1515 6 $5.35 332 2
$5.22 15 1 $5.38 309 1
$5.20 55 4 $5.39 20 2
$5.17 70 3 $5.40 100 6
$5.16 31 2 $5.42 31 2
$5.15 133 7 $5.43 55 2
$5.14 2 1 $5.44 40 1
http://www.bloomberg.com/apps/news?pid=20602013&sid=adIJ1pY.MhZs&refer=commodity_futures
I added some COW today (Cattle/Hog futures).
Cattle Surge on Improved Beef Demand, Shrinking Herd; Hogs Rise
By Molly Seltzer
June 20 (Bloomberg) -- Cattle rose to the highest since at least 1986 as U.S. beef prices surged and high corn costs prolong losses for feedlots, encouraging some producers to shrink their herds. Hogs also rose.
Wholesale beef prices are the highest in 13 months, and domestic shipments of select and choice cuts yesterday totaled 14.94 million pounds, the most since Jan. 24, U.S. Department of Agriculture data show. The USDA probably will report today that feedlots cut their purchases of young cattle for a third month in May, according to 11 analysts surveyed by Bloomberg.
``When grain prices are this high, the cattle should be staying out in the pasture,'' said Mark Schultz, a vice president at Northstar Commodity Investments LLC in Minneapolis, Minnesota. Livestock producers will ``try to keep them in the pasture longer, to feed them less corn,'' he said.
Cattle futures for August delivery rose 1.4 cents, or 1.4 percent, to $1.0485 a pound on the Chicago Mercantile Exchange, after earlier reaching $1.0615, the highest for a most-active contract since at least April 1986.
The price of cattle has jumped 19 percent since the end of March as corn surged to a record and feedlots began to reduce the size of their herds to curb losses. Corn futures traded on the Chicago Board of Trade are up 86 percent in the past year.
Feedlots buy year-old animals that weigh 500 to 800 pounds and fatten them on corn for about four to six months, until they weigh about 1,200 pounds (544 kilograms) and are sold to slaughterhouses.
Feedlot Losses
Commercial feedlots from Nebraska to Texas lost an average of $48.47 on each steer or heifer sold for slaughter in May, compared with a loss of $137.66 in April and a record $169.80 in March, said Erica Rosa, an economist at the Livestock Marketing Information Center in Lakewood, Colorado.
U.S. processors including Tyson Foods Inc. and National Beef Packing Co. slaughtered 128,000 cattle yesterday, up 0.8 percent from a week earlier, the USDA said yesterday.
Wholesale beef prices rose 0.74 cent, or 0.5 percent, to $1.5912 a pound today, up 11 percent from a year earlier, the USDA said.
``The packers made a real effort to get a lot of beef sold, which they did,'' said Walt Hackney, owner of Omaha, Nebraska- based Hackney Ag.
Feeder-cattle futures for August delivery rose 2.475 cents, or 2.2 percent, to $1.13575 a pound in Chicago.
Hogs Rally
In another livestock market, hog futures jumped by the CME's daily limit on signs of improved pork demand and expectations that U.S. livestock producers will reduce the size of their herds.
Rising corn costs led to a loss in the hog-producing unit of Smithfield Foods Inc., the largest U.S. pork producer, in the three months ended April 27. The company said Feb. 19 it would reduce its breeding herd by as much as 5 percent. Wholesale pork prices are up 44 percent since the end of March.
``Even with prices going higher today, you still cannot make money buying corn and meal in the open market and selling pigs,'' Schultz said. ``It still does not turn a profit.''
Hog futures for August settlement rose 2.925 cents, or 3.9 percent, to 78.375 cents a pound, after earlier rising by the CME's daily limit of 3 cents. The price has gained 35 percent this year on signs of improved demand for U.S. pork.
Wholesale-pork prices rose 1.7 cents, or 2.2 percent, to 79.33 cents a pound yesterday, the highest this month, USDA data show.
To contact the reporter responsible for this story: Molly Seltzer in Chicago at mseltzer3@bloomberg.net
Last Updated: June 20, 2008 14:50 EDT
Add 500 COW 45.55
aren't we still waiting for
Strategic Assessment Study Initiated
from the:
Dec 31 2007 MD&A - English available on SEDAR ?
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00007718
Connacher get a reco..
JUNE 19, 2008
Connacher Oil and Gas (TSX: CLL)
Integrated Producer with Attractive Valuation
Outperform
Speculative Risk
Price: 4.70
Shares O/S (MM): 227.4
Dividend: 0.00
NAVPS: 7.18
Float (MM): 206.1
Debt to Cap: 42%
Price Target: 6.25
Implied All-In Return: 33%
Market Cap (MM): 1,069
Yield: 0.0%
P/NAVPS: 0.7x
Avg. Daily Volume (MM): 1.53
Event
We are initiating coverage of CLL with a target of $6.25 and an Outperform,
Speculative Risk Rating.
Significant Leverage to Long-Term Oil Prices. Connacher currently has
identified almost 800 million barrels of reserves and contingent/prospective
resources. Connacher conducted an active core hole drilling program this past
winter (120 core holes) and results from the drilling program will be incorporated
into a mid-year reserve report. Although it is difficult to predict the magnitude of
conversion from prospective to contingent resource, we expect the drilling
program will allow a significant amount of the 347 million barrels of prospective
resource to move to the contingent category.
Experienced Management Team. CLL's execution on the company's first oil
sands project was excellent (in terms of days to complete and ultimate capital
efficiency). We expect the management team will be able to duplicate its
successful execution with future phases.
Incremental Production Potential at Pod 1. CLL is considering options to add
additional surface capacity which could increase productive capacity at Pod 1 by
25% to ~12,500 bbl/d. This would involve limited incremental regulatory filings
but ultimately depend on continued ramp up and well performance. Any
production gains at Pod 1 would be incremental to our current valuation.
Significant Un-Risked Potential. Our un-risked NAVPS (futures) estimate
(which includes future growth prospects) is over $13/share, with a risked NAVPS
(futures) estimate of ~$8.50 (see Exhibit 4 for details). We are not yet willing to
set our price targets for long-lived assets off of strip pricing. Therefore, we are
initiating coverage of CLL with a target price at $6.25/share, which is
approximately 25% below our risked NAVPS (futures) estimate and consistent
with our target price methodology for other long-lived assets.
Investment Thesis - History of Impressive Execution. With an experienced
management team, and successful execution at Pod 1, we believe CLL offers
investors exposure to value creation through the development of identified future
Pods with an integrated strategy that limits exposure to highly volatile heavy oil
differentials. Our target price of $6.25/share offers an implied return of 33% and
therefore warrants a rating of Outpeform.
LOL
Yeah lots of bids showed up in the last little while.. Crap gotta run...
Luck to us all :o)
Your profile shows you as ageless :O)
AAA .62
filled on stetson .54.... that's it for me..
Yeah I'm watching RAY... Now I doubt that gap get's filled before the sector loses favour again.. Should've bought back my SVU also... drats.. SCP up also... none of that left either..
speaking of an hour... CZZ has gone from hero to zero (metaphorically) in about that time.. :o(
I duly note that it has not doubled yet... Just how long do these things take ?.. It's been over an hour.. :O)
POWERED BY POTASH ONE
sadly not one I bought... and I'm so overexposed to AG already ...trying to keep cash above 20%
OK put on my stetson at .57.
doubled PSS @ 12.56
messed up on CZZ.. cancelled a buy @ 12.53... 100 lots had filled
Wrong dam order.. sloppy on my part.....
nope but that reco is even higher than the other two :O)
nice trade BTW
reaction pretty muted.. My PSS is falling... the cheap shoe market has no sole ;O)
talking to myself LOL
POWERED BY POTASH ONE
Looking to add some CZZ (Brazil) a little lower..
Yeah I been buying my speed stick by the gross @ costco :O)
ARRRRRGH!!!! FOS giving me heartburn... on relatively low volume (low for FOS)...
one of yours :O)
you stuttering tonight LOL... or the chill from the fishing trip not yet worn off :O)
Good luck :o) I'm out already. On my watch list but never bought back in yet...
Stalin :O)
Okie dokey
more exotica info LOL
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=24684091
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=24682733
Looks like I may increase my position to a full position buying the dips after reading up some more on it..
So I guess the deal is to keep it to the marginal lands otherwise it is competing...
I bought some CZZ this AM and posted same also on the SI farming thread.. I may have caused a minor stampede LOL.. but I got a lot of free DD out of it :O)