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Food Technology Service, Inc. Named Company of the Month by The Bowser Report
Friday January 19, 11:13 am ET
MULBERRY, Fla.--(BUSINESS WIRE)--Food Technology Service, Inc., (NASDAQ:VIFL - News) announced today that it has been selected as the "Company of the Month" for January 2007 by The Bowser Report. The Bowser Report is a monthly newsletter that recommends stocks priced at $3.00 per share or less on the NYSE, NASDAQ and AMEX exchanges. It is a subscription-based newsletter and neither research nor coverage by The Bowser Report is paid for by the featured companies.
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"I appreciate the recognition of our Company by The Bowser Report," said Food Technology Service board chairman Dr. John Sinnott. "Mr. Bowser has an excellent reputation for using fundamental analysis to discover undervalued stocks and has a loyal following," said Sinnott.
Food Technology Service, Inc. provides irradiation services for medical products, food items and consumer goods to enhance the safety of those products. The Company is certified to ISO 13485:2003 standards for the provision of radiation sterilization services for medical devices.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risk and uncertainties that may affect business and prospects and cause actual results to differ materially from these forward-looking statements.
Could be.
I know about the loan.
I read somewhere that Iraq has an agreement with IMF that expires in March 21. Don't have a link to it. And I don't know what the agreement is. LOL
February 19, 2007 TSX Trading Symbol: PNL
Further Assay Results From Silver Coin Drilling
Stewart , BC – Pinnacle Mines and Mountain Boy Minerals announce that all assay results have now been received for the drilling on the Silver Coin project from the 2006 exploration program. These holes have intersected more high-grade gold and silver values in the Main Breccia zone of the Silver Coin property. Silver Coin is a gold-silver-base metal property located approximately 24 kilometers north of Stewart, British Columbia in the Skeena Mining Division.
During the 2006 exploration season, 24,206 meters of drilling was completed in 115 holes on the property area. Work has indicated that the Main Breccia zone is open along strike to the south and north of the current drilling.
Hole 188 and 189 had no assays greater than 1g/t Au even though the Main Breccia was intersected. Assay results greater than 1g/t for holes 190-199 inclusive are shown below:
DDH
From
(m)
To
(m)
Width
(m)
Au
g/t
Ag
g/t
Cu
%
Pb
%
Zn
%
CLAIM
TESTED
2006-190
103.96
105.03
1.07
1.0
144.5
0.055
1.03
13.4
Big Missouri
2006-191
59.15
60.82
1.67
4.88
71.0
0.406
2.39
12.3
Big Missouri
and
190.55
192.23
1.68
1.11
0.8
0.001
0.01
0.1
Big Missouri
and
230.18
231.15
1.07
4.09
8.2
0.014
0.03
0.17
Big Missouri
and
236.89
239.94
3.05
2.46
1.8
0.004
0.01
0.01
Big Missouri
2006-192
61.59
73.78
12.19
1.59
5.67
0.002
0.019
0.03
Big Missouri
and
81.40
82.92
1.52
1.78
5.3
0.004
0.01
0.07
Big Missouri
and
106.55
108.08
1.53
1.56
8.6
0.003
0.05
0.44
Big Missouri
2006-193
17.38
20.43
3.05
1.06
5.2
0.005
0.02
0.07
Big Missouri
and
29.57
32.62
3.05
2.35
8.2
0.008
0.06
0.06
Big Missouri
and
98.17
108.84
10.67
3.82
51.23
0.006
0.035
0.084
Big Missouri
2006-194
60.06
73.78
13.72
1.47
2.40
0.002
0.013
0.042
Big Missouri
and
79.88
81.40
1.52
2.15
5.5
0.006
0.03
0.32
Big Missouri
and
87.50
89.02
1.52
3.0
5.6
0.007
0.06
0.15
Big Missouri
2006-195
29.57
38.72
9.15
1.24
6.0
0.01
0.04
0.42
Big Missouri
and
46.34
47.87
1.53
1.23
4.3
0.005
0.01
0.03
Big Missouri
and
92.53
94.05
1.52
1.15
6.8
0.008
0.08
0.23
Big Missouri
and
101.72
102.74
1.52
1.62
7.6
0.008
0.12
0.29
Big Missouri
2006-196
85.98
97.50
1.52
1.0
10.9
1.011
0.03
0.09
Big Missouri
and
93.60
96.65
3.05
1.52
2.5
0.004
0.04
0.05
Big Missouri
2006-197
68.45
78.35
9.9
1.83
7.03
0.004
0.06
0.14
Big Missouri
and
88.41
90.24
1.83
1.66
8.0
0.04
0.10
0.40
Big Missouri
2006-198
15.85
18.90
3.05
2.26
10.05
0.006
0.15
0.30
Big Missouri
and
32.62
34.015
1.52
1.36
3.5
0.002
0.08
0.11
Big Missouri
and
38.72
41.77
3.05
1.46
19.4
0.011
0.06
0.22
Big Missouri
and
87.80
88.72
0.91
1.02
6.70
0.005
0.01
0.02
Big Missouri
and
90.55
93.60
3.05
1.16
7.50
0.005
0.03
0.11
Big Missouri
and
105.03
106.86
1.83
1.22
7.90
0.006
0.08
0.16
Big Missouri
2006-199
96.55
110.37
13.7
1.92
3.43
0.002
0.04
0.03
Big Missouri
and
124.09
127.13
3.05
1.15
0.4
0.005
0.01
0.03
Big Missouri
Prior to the 2006 drilling program, MineFill Services of Seattle, WA completed a resource calculation on Silver Coin in compliance with CIMM (2000) Standards at geometric cut-off which indicated a total inferred resource of an estimated 500,000 ounces of gold and 2.11 million ounces of silver. The inferred resource consists of 11.3 million tonnes grading 1.60 g/t gold, 6.64 g/t silver, 0.06% copper, 0.19% lead and 0.41% zinc. The 2006 drill program was aimed at possibly doubling or tripling this resource. MineFill is currently preparing a revised resource calculation which will include the 2006 drilling results. The report is expected to be complete in March 2007.
The Silver Coin project and associated minerals claims is a 51-49% joint venture between Pinnacle Mines and Mountain Boy Minerals. The Kansas claim is the subject of an option/joint venture with Tenajon Resources Corp., pursuant to which the Pinnacle/Mountain Boy joint venture is earning a 60% interest through the expenditure of $1,000,000 on exploration over four years. The joint venture can earn a 70% interest in the Kansas claim by exercising an option to deliver a feasibility study within four years of earning the initial 60%.
E. Kruchkowski, P. Geo., is the qualified person under National Instrument 43-101 that is in charge of the exploration program on behalf of the companies. Drill core and trench samples are assayed by Assayers Canada of Vancouver, BC.
Pinnacle Mines Ltd. is a Canadian based mineral exploration company with assets in Canada and Mexico. In Canada, Pinnacle holds several properties in Northwestern British Columbia in proximity to numerous past and producing mines including the Silbak-Premier Mine and Barrick Gold’s famed Eskay Creek Mine. In Mexico, Pinnacle has an option to acquire the Tuligtic property, a copper-gold target near Mexico City as well as an option to acquire the Rio Minas/La Calavera projects in the state of Oaxaca.
For further information about this news release contact Andrew Bowering, President or John Van Duzen at 604-688-7377 or visit Pinnacle’s website at www.pinnaclemines.com for further property information and/or assay results.
On behalf of the Board of Directors
“Andrew W. Bowering”
President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or the accuracy of the content of this news release.
Chinese buying picking up for copper: imports up sharply
By: Lawrence Williams
Posted: '16-FEB-07 22:00' GMT © Mineweb 1997-2006
LONDON (Mineweb.com) --According to the latest analysis by Numis Securities in London, Chinese import statistics indicate a strong pick up in Chinese copper imports implying that re-stocking is taking place following a year where the Chinese have been running down their inventories. January refined and alloy copper imports reached 147,650t up 70% year on year.
Numis Securities has been in the forefront of regular analysis of the Chinese metals sector, so one needs to pay some attention to its findings.
Numis says that Chinese copper imports in January were at levels not seen since 2005. Market participants in the region estimate that February imports could hit 150,000 t as consumers secure metal ahead of the Chinese Lunar New Year celebrations and week-long holiday starting 18th February. Copper imports were down in 2006 in response to high prices prompting heavy de-stocking activity throughout the consumption pipeline. The lower prices seen in recent weeks have encouraged re-stocking which has long been expected. Additionally the lower prices of recent weeks, have reduced scrap supply.
Traditionally, Numis says, prices are often stronger at this time of year as manufacturers build stock levels ahead of the construction season. It is therefore possible that copper prices prove to be resilient during the spring and into the Northern Hemisphere’s summer period. However, manufacturing and demand frequently slows over the summer.
Copper prices received a further boost on Wednesday due to a weakening of the US$ following comments from US Federal Reserve Chairman, Ben Bernanke saying that inflationary pressures “are beginning to diminish”, which could lead to an interest rate cut this year.
Despite the recent strong recovery in copper prices to US$5,865 per ton this morning from a recent low of US$5,270 on 8 February, Numis remains cautious for the outlook over the year ahead. The next few months may well prove to be strong but new supply is coming to the market, and if prices are too high, then demand will no doubt fall away and re-stocking activity cease as happened in 2006.
On the negative side for copper, LME copper inventories have almost doubled since October 2006, although they still only represent a fraction of world usage. Additionally, the high copper prices last year were in part due to metal supply being in deficit during the year – boosted by some disruptions at key producers. This year the metal is expected to be in surplus by 197,000 tons according to Bloomsbury Minerals Economics – one of the most reliable forecasters of copper prices.
For exposure to copper Numis recommend: Xstrata, BHP, Rio Tinto, Antofagasta, First Quantum, African Copper, and Monterrico Metals. (Numis points out it is broker and adviser two of these – First Quantum and African Copper).
We introduced Bioscrypt (BYT.T $0.95) back on January 8th at $0.60. This was our first entry into the security sector for 2007 and the following company (GLOI) will be our second. GLOI is tightly held and for existing shareholders that is fine, but when a person is looking to take a new position, it becomes a significant disadvantage. OTC market makers will also take advantage of this situation by manipulating share price so its the type of company that requires patience. If you're looking closely at stocks like this and find that market makers move share price beyond a comfortable range, just wait patiently rather than chase them. The short term volatility only increases risk if they try to take advantage of new buyers.
Canaccord (www.canaccord.com) analysts recently placed a $5 target on GLOI. This would be based upon a 12 to 18 month window and likely contingent upon the company hitting profitable annual revenue of $100 million in 2007 (a realistic objective). This is a fascinating OTC company with an advisory board that reads like the Who's Who of U.S. government and national security. They employ security and risk experts like retired Army General Wesley Clark, onetime FEMA director James Witt, and former NYC police commissioner Howard Safir.
Global Options Group (GLOI/OTC $1.45)
www.globaloptions.com
GLOI is in a very large and growing (but fragmented) market for security solutions and risk mitigation. They are aggresive and have plans to consolidate the risk mitigation industry (estimated at $14 Billion annually) in an effort to become one of the top consulting firms.
Recently the u.S. Congress passed a homeland security bill (anti-terror legislation) valued at almost $50 Billion over the next several years. This demonstrates the importance placed on this industry from both a government, and corporate perspective.
"Our first and highest duty as members of this Congress is to protect the American people, to defend our homeland and to strengthen our national security," said Majority Leader Steny Hoyer.
Overview & Strategic Objectives
The company provides high-end risk mitigation services to Fortune 500 corporations, governmental organizations and high-profile individuals throughout the world. Their services currently include risk management and security, investigations and litigation support, crisis management and corporate governance. These engagements take their staff around the world and are typically highly sensitive engagements where they interact with senior leaders in corporations and governments. Their overall mission is to identify, evaluate, assess, prevent and correct issues that may threaten people, organizations or strategic initiatives for corporations and governments.
Their goal is to become, through acquisition and new product development, a major risk mitigation solutions company. They are frequently in discussions with privately or publicly owned firms in the risk mitigation industry. Potential acquisitions could take advantage of synergies and expand geographic reach into many more countries around the world. The company seeks to leverage their executive-level contacts, management and advisory teams across all their product and service offerings, while building a lower-cost infrastructure than individual businesses could achieve on their own.
According to the Lehman Brothers Security Industry Annual Report 2004, the risk mitigation market doubled in size from 1990 to 2000 and the market is expected to continue its steady growth and triple in size from 2000 to 2010.
Organized into Three major segments:
Investigations and Litigation Support
Crisis Management and Corporate Governance
Risk Management and Security
Their management, staff and advisory boards include security, emergency preparedness, business continuity and terrorism experts formerly in the military and top governments positions, former intelligence and law enforcement officers, professional investigators, and legal and crisis communications specialists.
As an example, the company has performed risk assessments of corporate headquarters, chemical weapon stockpiles, nuclear installations and reactors, factories, yachts, private aircraft, homes, transportation systems, government facilities, political conventions, sports stadiums and sporting events.
An Outstanding Advisory Board
In addition to their management team, they utilize a group of advisors to provide assistance with corporate and governmental contacts, as well as business development. Board members currently include:
a) Frances Cook - former Ambassador to Burundi, former Ambassador to Cameroon; former Ambassador to the Sultanate of Oman and the first female Ambassador from any country in the Arabian Gulf.
b) John Oswald - former partner of the international law firm of Lord Day & Lord; director of numerous corporations, including Preem Holdings, the largest downstream refining operation in Europe
c) Sir Richard Needham - former United Kingdom Minister for Trade and Industry
d) Honorable William S. Sessions - former Director of the Federal Bureau of Investigation; former Chief of the Government Operations Section of the Department of Justice
e) Rodney Slater - former United States Secretary of Transportation; former head of the Federal Highway Administration
f) Honorable William H. Webster - former Director of the Central Intelligence Agency (1987-91); former Director of the Federal Bureau of Investigation (1978- 87); Judge Webster was awarded the Presidential Medal of Freedom and the National Security Medal.
g) Honorable R. James Woolsey - former Director of the Central Intelligence Agency (1993-95); former member of the National Commission on Terrorism; former Undersecretary of the Navy; and former General Counsel to the United States Senate Committee on Armed Services.
Danny Deadlock
Microcap.com
--------------------------------------------------------------------------------
email: microcap@telus.net
web: http://www.microcap.com
Companies featured in the current edition of the newsletter: ADSX, ARGA, CYTR, EMIS, GNBT, HSOA, HYTM, IMMG, ISOND, ITUI, SCLL, SFP, SOG, SWTS, USAT
The bulls seized control of Wall Street last week, as reassuring comments by Federal Reserve Chairman Bernanke last week were all that was needed to send the Dow to another record high, and support further gains in all of the other indexes. Bernanke’s comments support the view that The Fed is not expected to raise rates anytime soon, while still leaving potential for a possible rate cut later in the year. The S&P 500 was up and down over the course of the week, but saw a surge based on Bernanke’s comments. The S&P 500 closed the week up 17 points and increased its year to date gain to 2.6%. The Dow was up 186 points and is up 2.4% this year, while the Nasdaq rose 36 points, increasing its year to date advance to 3.4%. The Russell 2000 closed the week up 11 points and increased its year to date gain to 3.9%.
Investors ignored declines in industrial production, housing and consumer confidence to send the markets higher last week. Industrial production dropped last month as a result of weakness in the auto sector. Housing remains a concern with January housing starts plunging 14.3%, the steepest decline in more than a decade. Many believe the sharp decline, after two consecutive months of gains, was due to unseasonably cold weather. However, the January core PPI was in line with expectations, helping to ease concerns about economic weakness. The Saudi oil minister suggested that no output reductions were necessary and oil prices ended the week at $59.39, trading in a narrow range.
What should investors look for in the upcoming week? Earnings announcements have slowed considerably with only a handful of major names scheduled to report results over the course of the upcoming holiday shortened week, as all of the markets are closed Monday. Investors can expect to see earnings reports from Alltel (NYSE: AT), Home Depot (NYSE: HD), First Energy (NYSE: FE), and Wal-Mart (NYSE:WMT) before the bell Tuesday. Hewlett-Packard (NYSE: HPQ) and Medtronic (NYSE: MDT) will announce earnings after the bell. Abercrombie (NYSE: ANF) and Whole Foods (Nasdaq: WFMI) will announce earnings after the close Wednesday. Thursday will be the busiest day for announcements with earnings reports from CMS Energy (NYSE: CMS), JC Penny (NYSE: JCP), Barrick Gold (NYSE: ABX), OfficeMax (NYSE: OMX), Safeway (NYSE: SW), and TRW Automotive (NYSE: TRW) before the bell. H&R Block (NYSE: HRB), Chiquita Brands (NYSE: CQB) and Chesapeake Energy (NYSE: CHK) will report earnings after the bell Thursday. Friday morning reports from Lowe’s (NYSE: LOW)and Clear Channel (NYSE: CCU) will close out the week for earnings reports.
Next week’s economic news and data will be relatively tame, but some mid-week activity could get some investor attention. The January Core CPI will be announced before the bell Wednesday followed shortly after by mid-morning announcements of the January Leading Indicators and the Weekly Crude Inventories. The FOMC minutes from January 31, 2006 will be released shortly before the market close Wednesday afternoon. The Weekly Initial Unemployment Claims will be announced before the bell Thursday and the January Help-Wanted Index will be announced later that morning. Fed Gov Bies will speak at Duke on Tuesday. Fed Gov Kohn will address financial stability Wednesday while San Francisco Fed president Yellen will speak on the economy.
The conference schedule for next week will once again be active. The four-day ROTH Capital Partners 19th Annual OC Conference at the Ritz Carlton in Laguna Niguel , California will begin Monday. Hythiam, Inc, (NASDAQ: HYTM)is scheduled to present Tuesday at 10:30 a.m. Pacific Time. Emisphere Technologies (NASDAQ: EMIS) presents later that day at 3:30 p.m. Auriga Laboratories, Inc. (OTCBB: ARGA), is scheduled to present at 10:30 Thursday, along with USATechnologies (OTCBB: USAT). CytRx Corporation (NASDAQ: CYTR)is scheduled to present on Thursday at 11:30 am PST. The four-day Consumer Analyst Group of New York 2007 Conference in Scottsdale, Arizona and the three-day Morgan Stanly Basic Materials Conference in New York will begin Tuesday. The Prudential Equity Group Washington Healthcare Conference in Washington, D.C. and the Piper Jaffray Second Annual Solar & Clean Tech Symposium are Wednesday. The three-day RBC Capital Markets Communications, Media and Technology conference in Toronto, Ontario, the two-day Bank of America Technology Conference in New York, and the four-day CIBC World Markets 2007 Whistler Institutional Investor Conference in Whistler, British Columbia will also begin Wednesday. The CIBC 4th Annual Vail Semiconductor Summit in Vail, Colorado and the Credit Suisse Global Forest Products Conference are scheduled to begin Thursday. The JPMorgan Private Homebuilder Conference in New York and the two-day D.A. Davidson 5th Annual Technology Conference in Phoenix, Arizona will also begin Thursday.
Volume Alert:Shares of CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical company focused on developing products primarily in the area of small molecules and ribonucleic acid interference (RNAi), surged to another 52-week high on more than four times average volume last week, as the stock continues its blistering run that has seen shares advance more than double this year as investors have begun to focus on the company’s RNAi technology platform and its scientific advisory board, led by Craig Mello, Ph.D., who was recently awarded the Nobel Prize as the co-discoverer of RNAi. Despite the gains, the stock still trades at a substantial discount to peer company Alnylum Pharmaceuticals, and well below the price that Merck paid to acquire Sirna recently. The stock closed the week up $0.85 at $4.10.
Generex Biotechnology Corporation (NASDAQ: GNBT), a leader in the area of buccal drug delivery, announced its wholly-owned subsidiary, Anitgen Express received a Notice of Allowance in connection with U.S. Patent Application No. 10/197,000. The specific award covers fundamental aspects of the design and use of Ii-Key antigenic epitope hybrids in treating disease. In addition to the initiation of a Phase II clinical trial designed to test the efficacy of one of its immunotherapeutic Ii-Key hybrid vaccines in breast cancer, Antigen Express has also initiated clinical trials on a synthetic avian influenza vaccine based on the same platform. The stock ended the week down $0.11 at $1.73.
Isonics Corporation (NASDAQ: ISOND), developer of innovative solutions for the homeland security and semiconductor markets, announced last week that the company has completed a 1-for-4 reverse split of its common stock as part of a plan to maintain the company’s continued listing status on the Nasdaq. Isonics’ shareholders received one share of Isonics stock for every four shares they held. the company’s stock symbol will trade with a “D” at the end for approximately 20 trading days to reflect the reverse stock split. The company’s common stock will once again trade under the ISON ticker symbol after the expiration of the period. Shares ended the week down $0.32 at $1.76.
Small appliance maker Salton, Inc. (NYSE: SFP), announced last week fiscal results for its second quarter ended December 30, 2006. Salton reported net sales of $190.9 million and a loss of $6.3 million compared with net sales of $230.4 million in the second quarter of fiscal 2006 and a loss of $27.8 million. The net loss reported in fiscal 2006 included a $28.1 million non-cash charge for recording a valuation allowance on a portion of the company’s deferred tax assets. Gross profit for the second quarter declined from $64.4 million in fiscal 2006 to $49.8 million in fiscal 2007, primarily a result of the decreases in net sales in the domestic business coupled with rising prices from suppliers, and increased cost of raw materials. For the six months ended December 30, 2006, Salton had net sales of $329.3 million and a loss of $16.4 million, compared with net sales of $378.8 million and net income of $1.9 million. Fiscal 2006 net income included a $27.8 million gain associated with the sale of the company's 52.6% ownership interest in Amalgamated Appliances and $21.7 million gain from the early retirement of debt, partially offset by a $28.1 million valuation allowance recorded on a portion of the deferred tax assets. Gross profit for the first half of fiscal 2007 was $84.2 million, compared to $93.9 million, in the corresponding period from the year before. Of course, the results were overshadowed by the company’s recent announcement that it had inked a deal to merge with Applica, in a move that should allow both small appliance companies to reduce operating costs and enhance sales of top brands through the entry into new markets. The stock ended the week down $0.24 at $2.67.
Volume Alert:Shares of i2Telecom International, Inc. (OTCB: ITUI)surged to its highest level in nearly one year on more than three times average volume, as investors have reacted enthusiastically to the company cleaning up its capital structure, allowing it to focus on developing its innovative Voice-over-IP products. Shares doubled for the week, closing at $0.28.
Shares ofHome Solutions of America, Inc. (NASDAQ: HSOA), a provider of rebuilding, remodeling and construction services, came under pressure last week after the lone analyst covering the company reduced his estimates for the fourth quarter citing delays in funding for the Road Home Program. In the report, the analyst reduced his Q4 EPS estimate from $0.25 to $0.16 and cut the 2007 forecast from $0.79 to $0.70. The news should come as little surprise to investors in the stock, as the company cited funding delays in a previous press release and Centex, a 10% customer of the company, previously said that the housing market was the worst it had experienced in the last 25 years. Still, if the company were to earn $0.49 for the full year as the analyst forecast, it would be nearly double what it earned in fiscal 2005. At the lower earnings level, the stock trades for just 12 times trailing 12-month EPS. Shares ended the week at $6.29, down 14 cents.
Stem Cell Innovations, Inc., (OTCBB: SCLL)presented data last week at the Stem Cells World Congress in San Diego describing further characterization and extension of its PluriCell™stem cell system. The Congress attracted experts from academia and industry to discuss progress in the stem cell arena. The companyt described how its PluriCells™ have the ability to become endothelial cells, the cells that line the arteries and which are central players in cardiovascular disease. Normal adults have few circulating endothelial precursors in their blood but increased levels have been shown in conditions associated with myocardial infarction and stroke. PluriCells™ can provide both a drug discovery platform and also a potential cell therapy for use in these conditions.
IMPART Media Group, Inc. (OTCBB: IMMG), an innovator in the creation of out-of-home digital advertising content and information network management, announced last week that RediClinic LLC has selected the company as their digital signage provider. RediClinics are staffed by certified nurse practitioners who work with local physicians to diagnose, treat, and prescribe medications for common medical conditions. The company also administers a wide range of preventive services, including health screening tests, vaccinations, and back-to-school & sports physicals. Impart’s functionally unique and innovative Impart IQ™ platform was the selected solution for use by RediClinic. For each RediClinic installation, Impart will provide two Impart IQ Box™ players, as well as web-hosting, content management, and network monitoring monthly services for the RediClinic digital television system. The two companies are also in the process of creating an interactive solution that will ultimately be expanded into customer learning experiences throughout RediClinic's national network. Shares ended the week up $0.13 at $0.85.
Sweet Success Enterprises, Inc. (OTCBB: SWTS), which has re-launched a product line made popular by Nestlé’s to tap into the rapidly growing demand for convenient and nutritious beverages, announced last week that it has established e-distribution of it products through Amazon.com. The company has added Amazon.com to its growing list of distributors and has already begun shipping products to fill Amazon’s purchase order for the complete Fuel for Health™ line of beverages. Unlike other distribution vehicles, the relationship with Amazon is expected to result in immediate revenue. Shares ended the week down $0.05 at $0.58.
USA Technologies, Inc. (OTCBB: USAT), a developer of cashless vending and energy management products, announced results for the fiscal second quarter ended December 31, 2006. The company reported record quarterly revenue of $2 million, helped by the largest e-Port contract in the company’s history. Revenue for the six months ended December 31, 2006 was $4 million compared with $3.3 million for the same six month period ended December 31, 2005. Gross profit declined during the periods as a result of lower margins on the sale of hardware to MasterCard International, which is expected to result in ongoing recurring revenue. The company reported cash and cash equivalents of $8.5 million on December 31, 2006, compared with cash and cash equivalents of $2.9 million on June 30, 2006. The company’s balance sheet should allow it to meet the listing requirements for a national exchange. The stock ended the week down $0.38 at $6.34.
On The Wires: Verichip Corporation, a subsidiary of Applied Digital (NASDAQ:ADSX),announced that Michael Barbe has joined the company under the newly created position of Vice President of Sales and Distribution for the VeriMed Patient Identification System. Mr. Barbe has over 20 years of experience in the medical device industry and will be responsible for development of a distribution network for the VeriMed Patient Identification System. Auriga Laboratories, Inc. (OTCBB: ARGA), announced that effective March 1, 2007, Trevor K. Pokorney will be appointed to the company’s board of directors. In addition to extensive business and financing experience in regards to high-tech startup companies, Mr. Pokoney holds a Master of Science degree from Carnegie Mellon University Graduate School of Industrial Administration, Manufacturing and Operations Management and Bachelor of Science in Mechanical Engineering from the University of Texas at Austin . Junior oil and gas producer Strategic Oil & Gas, Ltd. (TSX Venture: SOG), announced last week that the company has begun drilling its first well in 2007. Strategic holds an initial working interest of approximately 30% in this Alberta gas test and the drilling is time is scheduled for two weeks.
Ear on the Street
ATS Automation Tooling Systems (ATA : TSX : $10.80)
Photowatt IPO price disappointing
CIBC World Markets maintains "sector outperform", 12-month target price is cut to $13.00
BlackWatch Energy Services (BWT.UN : TSX : $4.20)
Industry weakness
Blackmont Capital downgrades to "hold", 12-month target price is cut to $4.50
Chemtrade Logistics Inc Fd (CHE.UN : TSX : $8.25)
Less Q4 distributable cash than last year
Blackmont Capital maintains "sell", 12-month target price is $7.00
Canadian National Railway (CNR : TSX : $54.06)
Management reiterates guidance
Blackmont Capital maintains "buy", 12-month target price is $59.00
Canadian Pacific Railway (CP : TSX : $64.38)
CEO reiterates 2007 guidance
Blackmont Capital maintains "buy", 12-month target price is $68.75
Cinram International (CRW.UN : TSX : $23.76)
Q4 can provide upside surprise
National Bank Financial upgrades to "outperform", 12-month target price is raised to $25.00
CV Technologies (CVQ : TSX : $3.19)
Health Canada approves Cold-fX
RBC Capital Markets maintains "sector perform", 12-month target price is $3.00
DHX Media (DHX : TSX : $1.50)
Q2 below estimates
Canaccord Adams maintains "buy", 12-month target price is cut to $2.10
EnCana Corp. (ECA : TSX : $56.91 | NYSE : US$48.90)
Q4 in line and dividend raised
Blackmont Capital maintains "buy", 12-month target price is raised to US$58.00
Canaccord Adams maintains "hold", 12-month target price is US$55.00
RBC Capital Markets maintains "outperform", 12-month target price is $64.00
TD Newcrest maintains "buy", 12-month target price is US$60.00
Equinox Minerals Limited (EQN : TSX : $2.03)
First off take agreement with a Chinese company
CIBC World Markets maintains "sector underperform", 12-month target price is raised to $2.00
RBC Capital Markets maintains "underperform", 12-month target price is $2.40
Extendicare REIT (EXE.UN : TSX : $18.56)
Higher valuation due to increasing M&A in the sector
National Bank Financial maintains "outperform", 12-month target price is raised to $20.75
Fording Canadian Coal Trust (FDG.UN : TSX : $26.85 | FDG : NYSE : US$23.06)
Q4 in line
National Bank Financial downgrades to "underperform", 12-month target price is $22.50
Flint Energy Services Ltd. (FES : TSX : $26.86)
More cautious outlook of the oil service sector
Blackmont Capital maintains "buy", 12-month target price is cut to $38.50
Gateway Casinos Income Fund (GCI.UN : TSX : $18.61)
Workers voted to continue the strike at the Palace Casino
Blackmont Capital maintains "hold", 12-month target price is $19.00
Greystar Resources (GSL : TSX : $9.36)
Gold resource continues to expand at Angostura
RBC Capital Markets maintains "outperform", 12-month target price is $15.00
Great-West Lifeco (GWO : TSX : $36.73)
Earnings and dividend growth continued in the Q4
Desjardins Securities maintains "buy", 12-month target price is raised to $40.75
GMP Securities maintains "buy", 12-month target price is $41.00
TD Newcrest maintains "hold", 12-month target price is raised to $37.00
Home Capital Group (HCG : TSX : $34.00)
Posts better than expected quarter
Blackmont Capital maintains a "hold", 12-month target price is raised to $38.00
Desjardins Securities maintains a "buy", target price raised to $40.00
GMP Securities maintains a "buy", target price raised to $40.00
TD Newcrest maintains a "hold", 12-month target price is raised to $38.00
Cdn. Hotel Income Properties (HOT.UN : TSX : $16.56)
Fourth quarter in line
CIBC World Markets maintains a "sector perform", target price raised to $17.50
HSE Integrated (HSL : TSX-V : $1.90)
Reduced activity outlook
Blackmont Capital maintains "buy", 12-month target price is cut to $2.75
ING Canada (IIC : TSX : $51.66)
To buy back $500 million of its shares
CIBC World Markets maintains "sector outperform", 12-month target price is cut to $56.00
RBC Capital Markets maintains a "underperform", target price is $53.00
TD Newcrest maintains a "buy", 12-month target price is cut to $61.00
Inmet Mining (IMN : TSX : $62.50)
Good Q4
National Bank Financial maintains "sector perform", 12-month target price is $65.00
Canadian Hydro Developers (KHD : TSX : $6.31)
Reports inline fourth quarter
GMP Securities reiterates "buy", target price raised to $8.00
RBC Capital Markets maintains a "outperform", target price is $7.00
Continental Minerals (KMK : TSX-V : $2.02)
To form a partnership with Jinchuan Group
Blackmont Capital maintains "buy", 12-month target price is cut to $5.40
LionOre Mining International (LIM : TSX : $14.47)
Nickel supply remains historically low
CIBC World Markets maintains a "sector perform", target price raised to $16.00
Desjardins Securities reiterates "buy", target price is $17.10
Menu Foods Income Fund (MEW.UN : TSX : $7.34)
Q4 EBITDA meets expectations
CIBC World Markets maintains a "sector perform", target price raised to $7.00
Minefinders Corp. (MFL : TSX : $12.72 | MFN : AMEX : US$10.95)
Recent price appreciation behind downgrade
TD Newcrest downgrades to "hold", 12-month target price is $13.00
Northland Power Income Fd (NPI.UN : TSX : $12.85)
Increased overhead costs behind weaker than expected quarter
RBC Capital Markets maintains a "underperform", target price is $13.00
Nexen (NXY : TSX : $70.49 | NYSE : US$60.53)
Mixed Q4
Blackmont Capital maintains "buy", 12-month target price is $71.00
CIBC World Markets maintains a "sector outperform", target price is $81.00
National Bank Financial downgrades to "sector perform", 12-month target price is $74.00
RBC Capital Markets maintains a "sector perform", target price is $70.00
TD Newcrest maintains a "hold", 12-month target price is $73.00
Onex Corporation (OCX : TSX : $29.49)
2006 was a good year for the company
RBC Capital Markets maintains a "outperform", target price is $35.00
Precision Drilling (PD.UN : TSX : $25.82)
Pricing levels better than expected
National Bank Financial maintains "sector perform", 12-month target price is $31.00
Raymond James maintains "market perform", 6-12 month target price is $26.00
TD Newcrest maintains "hold", 12-month target price is $31.00
Peyto Energy Trust (PEY.UN : TSX : $17.36)
Reserves continue to increase
CIBC World Markets maintains "sector perform", 12-month target price is $19.00
Haywood Securities rate "sector outperform", 12-month target price is $20.00
RBC Capital Markets maintains "sector perform", 12-month target price is $17.25
Phoenix Oilfield Hauling (PHN : TSX-V : $0.63)
Slow activity expected in 2007
Blackmont Capital maintains "hold", 12-month target price is cut to $0.80
Paramount Energy Trust (PMT.UN : TSX : $12.14)
Cuts distribution by 30%
Blackmont Capital maintains a "hold", 12-month target price is $11.75
CIBC World Markets maintains a "sector underperform", target price is $11.75
Raymond James maintains "outperform", 6-12 month target price is $14.25
Parkbridge Lifestyle (PRK : TSX : $5.70)
Strong first quarter
Desjardins Securities maintains "top pick", 12-month target price is $7.40
Rogers Communications (RCI.B : TSX : $40.25)
Wireless leads the way
CIBC World Markets maintains "sector outperform", 12-month target price is raised to $45.00
Desjardins Securities maintains "top pick", 12-month target price is $45.00
GMP Securities upgrade to "buy", 12-month target price is $44.00
Haywood Securities rate "sector outperform", 12-month target price is $48.00
TD Newcrest maintains "buy", 12-month target price is raised to $50.00
Rider Resources Ltd. (RRZ : TSX : $8.47)
New financing for further exploration
GMP Securities resume coverage with "hold", 12-month target price is $11.00
Saxon Energy Services (SES : TSX : $3.99)
Q4 in line
Raymond James maintains "strong buy", 6-12 month target price is $6.00
Stratos Global (SGB : TSX : $5.14)
Rebound of broadband revenues
Canaccord Capital maintains "buy", 12-month target price is $7.00
sxr Uranium One (SXR : TSX : $16.43)
Acquiring UrAsia
Canaccord Capital maintains "buy", 12-month target price is $19.30
Trinidad Energy Services (TDG.UN : TSX : $13.89)
More cautious outlook of the oil service sector
Blackmont Capital maintains "buy", 12-month target price is raised to $15.25
TORR Canada (TOR : TSX : $0.86)
Q2 sales less than expected
Blackmont Capital maintains "buy", 12-month target price is $1.60
Vaaldiam Resources Ltd (VAA : TSX : $0.92)
To acquire Majescor's 40% interest in the Brauna
National Bank Financial maintains "outperform", 12-month target price is cut to $2.25
Van Houtte (VH : TSX : $24.50)
Coffee margins improving
GMP Securities rate "buy", 12-month target price is raised to $30.00
National Bank Financial maintains "outperform", 12-month target price is raised to $27.00
RBC Capital Markets rates "sector perform", no target price reported
Workbrain Corp (WB : TSX : $9.48)
Q4 disappointing
National Bank Financial downgrades to "sector perform", 12-month target price is cut to $11.00
Westaim Corp. (WED : TSX : $1.25)
Time running out for iFire
GMP Securities maintains "buy", 12-month target price is cut to $2.90
West Fraser Timber Co. (WFT : TSX : $45.19)
Lumber recovers
Desjardins Securities maintains "hold", 12-month target price is $47.00
RBC Capital Markets rates "sector perform", 12-month target price is $47.00
WestJet Airlines (WJA : TSX : $15.78)
Record Q4 results
CIBC World Markets "sector outperform", 12-month target price is $19.50
National Bank Financial maintains "sector perform", 12-month target price is cut to $16.00
George Weston Ltd. (WN : TSX : $71.96)
Q4 in line
RBC Capital Markets maintains "sector perform", 12-month target price is $75.00
I don't understand this.
protects the Kurds from making any deal with the Government of Iraq.
Do you mean that the Kurds can't have an agreement with the Iraqi Gov't on the Oil law?
One Brave Muslim Cleric Dares to Tell the Truth That The American Liberation of Iraq is a Blessing to Islam, on Arabic TV!
http://patdollard.com/2007/02/11/muslims-say-god-bless-america/
I like this.
Free state? Not yet. Free market? Right here. While in the rest of Iraq they’re counting bodies, the Kurds are counting their money. Gleaming shopping centers are sprouting up from the sand. One sports an escalator—the first in Kurdistan.
If there is doubts that the value of the Dinar can rise fast.
Just look at how quick it dropped and how much.
http://www.investorshub.com/boards/read_msg.asp?message_id=16956579
I agree 100%
In my opinion it will be good for the Dinar.
I think that they will raise the value of the Dinar.
Before everyone is allowed to invest in Iraq.
Feiler predict potential goldmine for Iraqi Stock Exchange
February 18 2007
Dr. Gil Feiler, author of Rethinking Business Strategy in the Middle East and North Africa for the Economist Intelligence Unit is bull regarding the Iraqi Stock Exchange (ISX).
With a GDP growth forecast of well above 10 percent in 2007, more openness to foreign investors and privatization, the ISX is ripe for booming. It should be noticed that Foreign Direct Investments (FDI) in Iraq are limited (less than 1 percent of the GDP in 2006) and that currently foreigners are forbidden to trade on the ISX.
The recent foreign investment legislation in the country is one of the main vehicles to attract expatriate Iraqi and foreign investor funds. Recently, Iraq begun negotiations with San Ramon-based Chevron Corp. and Exxon Mobil Corp. to build a new $3 billion petrochemical facility, and is in talks with several other Western companies over industrial projects.
Trading on the Iraq Stock market (ISX) has picked up significantly in last two years although the trade volume is still minor in western standards. The average daily trading value in 2006 almost tripled to around US$ 10 million. The advance to decline ration stood at an out of the ordinary 7. ISX market capitalization is circa US$ 2.1 billion, with 112 companies, but fewer than two dozen companies are active in relatively large scale. Trading occurs for only three hours twice weekly.
The driving force behind the market performance during 2006 was the banking sector, which captured most of the trading activity, mainly the Bank of Baghdad and the Commercial Bank of Iraq. The P/E multiple were extremely high for both banks with well over 250.
It should be noted that the banking sector in Iraq is still in its infancy and the potential is huge. There are 22 state-control and private banks operating in Iraq with a total number of 501 branches. This means that in a country of 28 million people, each branch serve 56,000 people.
The main companies in the agricultural sector are Al Tharar Agricultural Production and Al Ahliya Agricultural Production. Here the P/E ratio is much more reasonable. Regarding tourism, Babylon Hotel and Ishtar Hotel are the main companies, and in the construction sector and real estate, the main companies are Al Nukhba for Contruction and Al Khazar Construction Materials.
Undervalued Stock #1 ========== --------- Dominion Resources, Inc. (NYSE: D) --------- Insider Name: Mark J. KingtonInsider Position: DirectorInsider Action: 2,000 shrs on 2/2/2007Insider Total Holding: 13,699 shrs -------------------------------------------------------Undervaluation Merits... P/E Ratio = 19.0 (Industry Average 23.4)P/B Ratio = 2.28 (Industry Average 2.63)P/CF Ratio = 9.80 (Industry Average 11.40) Industry: Electric Utilities -------------------------------------------------------Other Merits... Dividend Yield = 3.30% --------- Dominion Resources, Inc. (NYSE: D)
Ear on the Street
Aeroplan Income Fund (AER.UN : TSX : $19.44)
Strong Q4 DCPU
CIBC World Markets maintains "sector perform", 12-month target price is raised to $18.00
Desjardins Securities maintains "hold", 12-month target price is raised to $21.00
TD Newcrest maintains "buy", 12-month target price is raised to $22.00
Algoma Steel (AGA : TSX : $36.76)
Q4 EPS above estimates
CIBC World Markets maintains "sector outperform", 12-month target price is raised to $48.00
GMP Securities maintains "buy", 12-month target price is raised to $49.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is raised to $51.50
TD Newcrest downgrades to "hold", 12-month target price is $40.00
Axcan Pharma (AXP : TSX : $18.33 | AXCA : NASDAQ : US$15.61)
A solid Q1
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $17.50
Axia NetMedia (AXX : TSX : $4.80)
Better-than-expected Q2
Canaccord Adams maintains "buy", 12-month target price is raised to $5.00
Haywood Securities maintains "sector outperform", 12-month target price is raised to $6.00
CAE Inc. (CAE : TSX : $12.17 | CGT : NYSE : US$10.41)
Q3 beats expectations
Canaccord Adams maintains "sell", 12-month target price is raised to $9.00
GMP Securities maintains "buy", 12-month target price is raised to $14.40
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $12.00
Scotia Capital Markets upgrades to "sector outperform", 12-month target price is raised to $14.50
TD Newcrest maintains "buy", 12-month target price is raised to $14.00
Canaccord Capital Inc. (CCI : TSX : $18.45)
Q3 EPS ahead of expectations
CIBC World Markets maintains "sector outperform", 12-month target price is $23.00
TD Newcrest maintains "hold", 12-month target price is raised to $21.00
Cameco Corp. (CCO : TSX : $43.72 | CCJ : NYSE : US$37.32)
2007 deliveries delayed
GMP Securities maintains "buy", 12-month target price is US$54.00
Crescent Point Energy Trust (CPG.UN : TSX : $17.23)
Momentum increases due to Mission acquisition
TD Newcrest maintains "buy", 12-month target price is raised to $18.50
Canadian Tire Corporation (CTC.A : TSX : $72.89)
Q4 in line
CIBC World Markets maintains "sector perform", 12-month target price is $76.00
Desjardins Securities maintains "buy", 12-month target price is $80.00
Raymond James maintains "market perform", 6-12 month target price is $78.00
RBC Capital Markets maintains "outperform", 12-month target price is cut to $85.00
Scotia Capital Markets maintains "sector perform", 12-month target price is $80.00
CV Technologies (CVQ : TSX : $2.27)
Q1 loss and disappointing U.S. sales
RBC Capital Markets maintains "sector perform", 12-month target price is cut to $3.00
Consumers Waterheater Fund (CWI.UN : TSX : $14.92)
Closed acquisition of Toronto Hydro Energy Sevices Inc.
TD Newcrest maintains "hold", 12-month target price is $13.50
Draxis Health (DAX : TSX : $5.92 | DRAX : NASDAQ : US$5.04)
Q4 in line
Desjardins Securities maintains "hold", 12-month target price is US$5.75
Scotia Capital Markets maintains "sector outperform", 12-month target price is $6.00
TD Newcrest maintains "action list buy", 12-month target price is US$6.50
Dalsa Corp. (DSA : TSX : $11.68)
Attractive valuation
Scotia Capital Markets maintains "sector perform", 12-month target price is $15.00
Enerflex Systems (EFX.UN : TSX : $10.60)
Q4 misses
RBC Capital Markets maintains "outperform", 12-month target price is $14.00
Emergis (EME : TSX : $5.25)
Infoway DIS agreement
Scotia Capital Markets maintains "sector outperform", 12-month target price is $6.00
Forzani Group (FGL : TSX : $18.88)
Cold weather in eastern Canada my help sales
Canaccord Adams maintains "hold", 12-month target price is $18.50
Fortis Inc. (FTS : TSX : $27.10)
Another quarter above estimates
Canaccord Adams maintains "buy", 12-month target price is raised to $32.00
CIBC World Markets maintains "sector underperform", 12-month target price is $27.00
TD Newcrest upgrades to "hold", 12-month target price is $26.00
Highpine Oil & Gas (HPX : TSX : $17.40)
Strong production growth expected in Q1
RBC Capital Markets maintains "outperform", 12-month target price is $21.00
Heroux-Devtek Inc. (HRX : TSX : $7.47)
Strong Q3
Raymond James maintains "outperform", 6-12 month target price is raised to $9.25
International Forest Products (IFP.A : TSX : $7.25)
Q4 beats expectations
Raymond James maintains "outperform", 6-12 month target price is $8.50
RBC Capital Markets maintains "outperform", 12-month target price is $8.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is $8.35
Jazz Air Income Fund (JAZ.UN : TSX : $8.60)
2006 results beat expectations
CIBC World Markets maintains "sector outperform", 12-month target price is $9.30
Desjardins Securities maintains "buy", 12-month target price is $9.75
Kingsway Financial Services (KFS : TSX : $23.15 | NYSE : US$19.77)
Disappointing quarter
CIBC World Markets downgrade to "sector perform", 12-month target price is cut to $26.00
Desjardins Securities maintains "buy", 12-month target price is cut to $32.00
Scotia Capital Markets rates "sector perform", 12-month target price is $29.00
Cossette Communication Group (KOS : TSX : $12.00)
Q1 slightly ahead of expectations
Desjardins Securities maintains "hold", 12-month target price is $13.00
TD Newcrest upgrades to "buy", 12-month target price is raised to $14.00
Loblaw Companies (L : TSX : $46.92)
Long road to recovery
Desjardins Securities maintains "hold", 12-month target price is $50.00
RBC Capital Markets rates "underperform", 12-month target price is $46.00
Scotia Capital Markets maintains "sector perform", 12-month target price is $43.50
TD Newcrest maintains "reduce", 12-month target price is cut to $46.00
Major Drilling Group Intl. (MDI : TSX : $25.35)
Second largest minerals and mining driller
TD Newcrest initiates coverage with a "buy", 12-month target price is $32.00
Mission Oil & Gas (MSO : TSX : $12.75)
Acquired by Crescent Point Energy Trust
GMP Securities Securities discontinues coverage
Nortel Networks Corp. (NT : TSX : $33.91 | NYSE : US$29.02)
Expect class action settlement in Q3/07
Scotia Capital Markets maintains "sector outperform", 1-year target price of $40.00
Open Text (OTC : TSX : $26.83 | OTEX : NASDAQ : US$22.91)
Beat expectations on bottom line
Canaccord Capital maintains "hold", 12-month target price is US$20.00
CIBC World Markets maintains "sector perform", 12-month target price is raised to US$25.00
GMP Securities Securities maintains "buy", 12-month target price is raised to US$24.00
Raymond James maintains "outperform", 12-month target price is raised to $30.00
RBC Capital Markets maintains "outperform", 12-month target price is raised to US$27.00
Scotia Capital Markets rates "sector perform", 12-month target price is US$25.00
TD Newcrest maintains "buy", 12-month target price is raised to US$27.00
Research In Motion (RIM : TSX : $156.38 | RIMM : NASDAQ : US$133.33)
One million subscriber adds in Q4
RBC Capital Markets maintains "sector perform", 12-month target price is US$145.00
Shoppers Drug Mart (SC : TSX : $51.25)
Strong quarter on all fronts
CIBC World Markets maintains "sector outperform", 12-month target price is raised to $57.00
Desjardins Securities maintains "hold", 12-month target price is $50.50
Scotia Capital Markets maintains "sector outperform", 1-year target price of $59.00
Steeplejack Industrial Group (SID : TSX : $7.55)
Another strong quarter
Raymond James maintains "strong buy", 6-12 month target price is $10.00
Energy Savings Income Fund (SIF.UN : TSX : $13.00)
Mixed Q3 and lower 2007 customer addition guidance
Canaccord Adams maintains "buy", 12-month target price is $15.25
Haywood Securities maintains "sector outperform", 12-month target price is $15.00
TD Newcrest downgrades to "hold", 12-month target price is cut to $14.00
Sun Life Financial Inc. (SLF : TSX : $51.89 | NYSE : US$44.25)
Beats consensus in Q4
Desjardins Securities maintains "buy", 12-month target price is $56.00
GMP Securities Securities maintains "buy", 12-month target price is $57.50
Scotia Capital Markets rates "sector outperform", 12-month target price is $58.00
TD Newcrest upgrade to "buy" 12-month target price is raised to $58.00
Stelco Inc. (STE : TSX : $20.00)
Operating losses of 120-140 million in Q4/06
RBC Capital Markets maintains "underperform", 12-month target price is reduced to $16.00
TIO Networks (TNC : TSX-V : $0.95)
New COO announced
GMP Securities Securities maintains "buy" 12-month target price is $1.70
Thomson Corporation (TOC : TSX : $51.00 | NYSE : US$43.55)
Increased annual divided by 11%
Scotia Capital Markets rates "sector perform", 12-month target price is $52.50
TD Newcrest maintains "hold", 12-month target price is raised to $53.00
TimberWest Forest Corp. (TWF.UN : TSX : $17.00)
Unit price appreciation
Raymond James rates "market perform", 6-12 month target price is $14.50
Scotia Capital Markets downgrades to "sector underperform", 12-month target price is $15.50
Westport Innovations (WPT : TSX : $1.52)
Provides update on WRI
Canaccord Capital maintains "hold", 12-month target price is $1.60
Western Oil Sands Inc (WTO : TSX : $33.50)
Potential for sale or merger
GMP Securities Securities upgrades to "buy", 12-month target price is raised to $37.00
Raymond James rates "market perform", 6-12 month target price is $34.00
Hard Creek More than Doubles Turnagain Resource
(VANCOUVER) – Hard Creek Nickel Corporation (TSX.V – HNC) is pleased to announce a new resource estimate for its wholly owned Turnagain Property, located 70 km east of Dease Lake, BC. This resource estimate is an update from a resource estimate provided in the June 14, 2006 AMEC Americas Limited of Vancouver, B.C. report entitled “Preliminary Assessment of the Turnagain Nickel Project”. The new resource estimate renders this Preliminary Assessment no longer valid and the report will be updated utilizing the new resource estimate. The June 14, 2006 Preliminary Assessment will continue to be available on our website and SEDAR as an historical document only.
The updated resource is a 235% increase in measured and indicated resources using new drill information from the 2006 exploration program from an expanded Horsetrail zone and newly discovered Hatzl and Duffy areas. Six separate zones were estimated independently as part of the resource.
The table below presents the resource estimate using a cut-off grade of 0.10% sulfide nickel (the 2006 Preliminary Assessment of the Turnagain Nickel Project used a base case cut-off of 0.095% sulfide nickel with the measured and indicated resource estimated at 184 million tonnes grading 0.17% sulfide nickel and an additional inferred resource of 286 million tonnes grading 0.16% sulfide nickel). A total of 24,408 metres of diamond drilling in 117 drill holes were used in the block model estimate. Holes beyond the zone boundaries were not used in the estimate. Sulfide nickel grades are based on ammonium citrate-hydrogen peroxide leach analyses. Ammonium citrate-hydrogen peroxide leach analyses for nickel provided a good estimate of nickel grades present in sulfide form and display excellent correlation with recoveries in metallurgical testwork. When compared with conventional analyses for nickel, the ammonium citrate-hydrogen peroxide leach results range from 60% to 90% of total nickel values. Only the nickel sulfides are expected to be recoverable by froth flotation
Cut-off Grade 0.10 % Sulfide Ni
Tonnes (000)
% Sulfide Ni
% Total Ni
% Co
< />
Measured
37,629
0.17
0.23
0.011
Indicated
390,934
0.17
0.22
0.011
Measured + Indicated
428,563
0.17
0.22
0.011
Inferred
742,923
0.17
0.22
0.011
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Ronald G. Simpson, P.Geo., principal of Geosim Services Ltd., completed the resource estimate for the project and is an independent qualified person as defined by NI 43-101. A detailed 43-101 compliant technical report will be completed and filed on SEDAR within 45 days.
Methodology & Quality Control
These mineral resource estimates were prepared pursuant to Canadian Institute of Mining (CIM) Standards on Mineral Resources and Reserves, prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council December 11, 2005 and published in the CIM Bulletin of November 2005 and compliant with National Instrument 43-101 – Standards of Disclosure for Mineral Exploration and Development and Mining Properties. Numbers have been rounded subsequent to calculation.
Resource estimation was constrained by 3 dimensional solid models developed from geological and analytical data. Block size was 25x25x15 metres and grade estimation was carried out by ordinary kriging using 15 metre downhole drill composites. Tonnes were calculated using an average SG of 3.05 based on 672 density measurements.
Samples for analysis were generally two metres (prior to 2006) and four metres (in 2006) in length of split NQ-size core for drilling. Reference pulps with known nickel values were inserted every 25 core samples and rock blanks every 30 samples to monitor laboratory performance as part of the quality control/quality assurance program.
Total nickel and cobalt values were determined by ICP emission spectrometry following four-acid digestion of a representative pulp sample. Total nickel includes nickel in both sulfide and non-sulfide minerals.
All analytical work was conducted by Acme Analytical Laboratories Ltd., an ISO 9001 registered facility, located in Vancouver. ALS Chemex, an ISO 9001 registered facility, also located in Vancouver, is carrying out check analyses on 10 per cent of the samples.
“Mark Jarvis”
MARK JARVIS, President
HARD CREEK NICKEL CORPORATION
This press release has been reviewed and approved by Neil Froc, P.Eng. a Qualified Person consistent with NI 43-101 and by Ron Simpson., P. Geo., an Independent Qualified Person consistent with NI 43-101.
This press release uses the terms “measured” “indicated” and “inferred” resources. We advise U.S. investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted to reserves.
The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this news release.
--------------------------------------------------------------------------------
1060 – 1090 W. Georgia St., Vancouver, BC, Canada V6E 3V7
T: 604-681-2300 F: 604-681-2310
E: info@hardcreek.com W: http://www.hardcreeknickel.com
Tiomin Kenyan titanium mining project might after all be a white elephant
By: Frank Jomo
Posted: '14-FEB-07 09:00' GMT © Mineweb 1997-2006
MALAWI (Mineweb.com) -- The collapse of Toronto listed Tiomin Resources’ titanium project in Kenya might be nigh following reports that the company has halted development of the Kwale mineral sands project.
A brief statement by the company says the project will be on hold for the next seven months. This is owing to the fact that delays and rising costs forced the project's lenders to withdraw the US$155 million debt facility that was in place for the Project. The company however added that it expected that strong product prices (for zircon and rutile) and reduced capital spending will revive lender interest at the appropriate time.
“Tiomin anticipates completing the resettlement of the farmers displaced by the Project by the end of the first quarter,” reads the brief statement. “ The Company will work towards the evaluation of substantial technical and contractual cost saving measures to improve the economics of the Kwale Project.”
The development comes hard on the heel of an announcement by ATW Venture Corporation that it will not execute the formal agreement it had with Tiomin to acquire an option to purchase up to a 50 percent interest in the company’s Kenyan mineral sand projects.
The latest development come at a time when the Kenyan government has exempted the company from paying Sh5.8 billion (US$ 84 million) in Value Added Tax on assorted imported mining equipment, according to the East African Standard.
But the exemption according to the paper has not come cheap. The country’s Finance Minister Amos Kimunya has warned Tiomin that if it breached any of the terms of a special mining lease the Kenyan government granted it in February 2005, the tax would be payable.
But announcing the suspension of the project, the company said it still remained in Force Majeure with the government – which is a legal term that implies that Tiomin is exonerated from any liabilities that may arise as a result of frustration of the contract
by factors beyond its control like natural disasters.
Tiomin signed an agreement with Standard Chartered Bank, WestDLB AG, Caterpillar Financial Australia Ltd and African Development Bank to fund the project in Kenya which was the largest Foreign Direct Investment (FDI) the country had in the past twenty years. The realization of that FDI now hangs in limbo.
Ear on the Street
Air Canada (AC.A : TSX : $19.92)
Solid Q4
Raymond James maintains "market perform", 6-12 month target price is raised to $21.00
TD Newcrest maintains "buy", 12-month target price is $25.00
ACE Aviation Holdings (ACE.B : TSX : $35.86)
Q4 in line
Desjardins Securities maintains "hold", 12-month target price is $40.00
Scotia Capital Markets maintains "sector perform", 12-month target price is $41.00
TD Newcrest maintains "buy", 12-month target price is raised to $45.00
AutoCanada Income Fund (ACQ.UN : TSX : $10.50)
New Street coverage
Scotia Capital Markets initiates coverage with a "sector outperform", 12-month target price is $12.50
ATS Automation Tooling Systems (ATA : TSX : $12.55)
Q3 preview
Blackmont Capital maintains "buy", 12-month target price is $13.70
Alimentation Couche-Tard (ATD.B : TSX : $25.07)
Retail gasoline margin below estimates
Blackmont Capital maintains "buy", 12-month target price is $32.00
Aur Resources (AUR : TSX : $19.94)
Q4 weaker than expected
Canaccord Adams maintains "hold", 12-month target price is cut to $20.00
CIBC World Markets maintains "sector outperform", 12-month target price is $32.00
Credit Suisse maintains "neutral", 12-month target price is $23.00
Desjardins Securities maintains "buy", 12-month target price is $26.85
GMP Securities maintains "buy", 12-month target price is $29.00
Scotia Capital Markets maintains "sector underperform", 12-month target price is cut to $19.00
TD Newcrest downgrades to "hold", 12-month target price is cut to $23.00
Brookfield Properties (BPO : TSX : $54.15 | NYSE : US$46.24)
Q4 in line
CIBC World Markets maintains a "sector perform", target price raised to US$49.00
Desjardins Securities maintains "buy", 12-month target price is US$58.50
Raymond James maintains "outperform", 6-12 month target price is raised to US$56.00
RBC Capital Markets maintains "sector perform", 12-month target price is raised to US$48.00
Scotia Capital Markets maintains "sector underperform", 12-month target price is US$38.50
TD Newcrest maintains "hold", 12-month target price is US$46.00
CAE Inc. (CAE : TSX : $12.67 | CGT : NYSE : US$10.79)
Rebounding of civil sim market share
GMP Securities reiterates "focus buy", target price is $14.40
Canaccord Capital Inc. (CCI : TSX : $19.00)
Delivers on most recent quarter
Westwind Partners maintains a "buy", 1-year target price is $21.75
Calpine Power Income Fund (CF.UN : TSX : $12.89)
No superior alternatives in sight
Desjardins Securities changes to "sell", target price is $13.00
Countryside Power Income Fund (COU.UN : TSX : $9.31)
Reviewing strategic alternatives
Desjardins Securities downgrades to "hold", target price raised to $10.00
CanWest MediaWorks (CWM.UN : TSX : $8.34)
Takeover premium potential increasing
TD Newcrest maintains a "action list buy", 12-month target price is raised to $9.00
Labopharm Inc. (DDS : TSX : $7.19)
More visibility on Tramadol OD's potential
Blackmont Capital maintains a "buy", 12-month target price is $9.00
EnCana Corp. (ECA : TSX : $55.90 | NYSE : US$47.52)
Fourth quarter results expected to be released before market open on Thursday
Blackmont Capital maintains a "buy", 12-month target price is US$57.00
Enerflex Systems (EFX.UN : TSX : $10.43)
Weak fourth quarter results
Raymond James maintains a "outperform", 6-12 month target price cut to $12.00
Finning International (FTT : TSX : $50.23)
Fourth quarter results expected today
RBC Capital Markets maintains a "outperform", target price is $53.00
H&R Real Estate Invest. Trust (HR.UN : TSX : $25.96)
Developing EnCana's new head office complex in Calgary
CIBC World Markets maintains a "sector outperform", target price raised to $27.35
Heroux-Devtek Inc. (HRX : TSX : $7.44)
Posts strong Q3/07 results
GMP Securities maintains a "buy", target price raised to $8.20
International Forest Products (IFP.A : TSX : $7.75)
Fourth quarter results encouraging
TD Newcrest maintains a "buy", 12-month target price is $9.00
Inmet Mining (IMN : TSX : $59.73)
Falling commodity prices to be offset by production growth
Scotia Capital Markets maintains a "sector outperform", 1-year target price raised to $65.00
Quebecor World (IQW : TSX : $16.60 | NYSE : US$14.09)
Print market is weak
Desjardins Securities maintains "sell", 12-month target price is US$11.00
Kingsway Financial Services (KFS : TSX : $23.01 | NYSE : US$19.61)
Reports disappointing fourth quarter results
RBC Capital Markets downgrades to "sector perform", target price cut to $26.00
Mediagrif Interactive Techn. (MDF : TSX : $9.00)
Initiating restructuring
CIBC World Markets maintains a "sector perform", target price cut to $9.50
Scotia Capital Markets maintains a "sector underperform", 1-year target price is $9.50
Masters Energy (MSY : TSX : $3.10)
Company provides 2007 guidance
Raymond James maintains a "outperform", 6-12 month target price is $4.75
Novelis (NVL : TSX : $51.43 | NYSE : US$43.75)
Agreed to be bought by Hindalco
Blackmont Capital upgrades to "hold", 12-month target price is raised to US$44.93
Nexen (NXY : TSX : $69.67 | NYSE : US$59.20)
Fourth quarter results expected to be released before market open on Thursday
Blackmont Capital maintains a "buy", 12-month target price is $71.00
Scotia Capital Markets maintains a "sector outperform", 1-year target price is $83.50
Penn West Energy Trust (PWT.UN : TSX : $35.20)
Acquires new assets
TD Newcrest maintains "buy", 12-month target price is $36.00
QLT Inc. (QLT : TSX : $10.43)
Settles patent suit
Scotia Capital Markets maintains "sector underperform", 12-month target price is $6.00
Redstar Oil & Gas (RED : TSX : $1.45)
Joint venture with private US oil and gas co
GMP Securities maintains "buy", 12-month target price is $2.00
Stratos Global (SGB : TSX : $5.13)
Q4 reports on Thursday Feb 15
Scotia Capital Markets rates "sector underperform", 12-month target price is $5.50
Shell Canada (SHC : TSX : $44.89)
Directors circular released
RBC Capital Markets rates "sector perform", 12-month target price is $46.00
Teck Cominco Ltd. (TCK.B : TSX : $82.40 | TCK : NYSE : US$70.08)
Weak zinc market
Scotia Capital Markets downgrade to "sector perform", 12-month target price is $87.00
TORR Canada (TOR : TSX : $0.95)
Working on several projects
Blackmont Capital maintains "speculative buy", 12-month target price is $1.60
TELUS (T : TSX : $57.99 | TU : NYSE : US$48.01)
Leveraged buyout model
RBC Capital Markets rates "sector perform", 12-month target price is $64.00
TimberWest Forest Corp. (TWF.UN : TSX : $16.75)
Higher real estate proceeds
Raymond James maintains a "market perform", 6-12 month target price raised to $16.00
TD Newcrest maintains "hold", 12-month target price is raised to $16.50
Vecima Networks (VCM : TSX : $10.50)
Details coming on WiMAX market
CIBC World Markets maintains "sector outperform", 12-month target price is $15.50
Raymond James maintains "outperform", 12-month target price is $12.50
Western Canadian Coal (WTN : TSX : $1.92)
Net loss exceeds expectations
GMP Securities maintains "buy", 12-month target price is lowered to $2.45
Western Oil Sands Inc (WTO : TSX : $32.93)
Possible corporate transactions
Scotia Capital Markets downgrades to "sector perform", 12-month target price is $32.00
Yellow Pages Income Fund (YLO.UN : TSX : $13.08)
Ideal LBO candidate
Blackmont Capital maintains "hold", 12-month target price is $13.50
YM BioSciences (YM : TSX : $1.99)
Tesmilifene trial failed
RBC Capital Markets rates "sector perform", 12-month target price is $2.00
RENO, NV (Mineweb.com) -- As Vancouver’s Teck Cominco announced a potential $1.6 billion share buyback, coupled with a planned share split, company officials told analysts Tuesday emerging-market, metal-intensive economies should keep mining busy for the next 20 years.
Teck Cominco expects to receive approval for a share buyback of up to 20 million of its outstanding Class B subordinate voting shares, a sale that could commence next week. However, Chief Executive Don Lindsay warned analysts that the buybacks will take place over the months ahead from time to time when share prices are favorable.
In a news release, Lindsay said the proposed share repurchases will be an opportunity “for us to effectively return some capital to shareholders, while preserving substantial capacity for future growth.” At the same time, Teck also announced plans to implement a share split of its issued outstanding Class A common shares and Class B subordinate shares. The split must be approved by shareholders during the company’s April 25th AGM.
Meanwhile, Lindsay told analysts Tuesday that “the next 20 years will be better than the last 20 years” for mining companies, based on the expectations of high metal consumption among emerging markets economies, which now comprised 50% of global GDP. Because it is difficult to bring new mining operations into production, and not much in the way of high-quality resources have been discovered this past year, Lindsay forecast a continued scarcity of supply and solid demand for metals.
Teck announced Monday that it would extend the life of the Highland Valley copper mine in British Columbia another six years to 2019. During 2013 to 2019, Highland Valley plans to produce 1.5 billion pounds of copper and 21 million pounds of molybdenum for a capex of $300 million.
Teck Cominco also forecast a copper global supply/demand balance of 155 thousand tonnes this year as demand is expected to increase 4%.
Mike Agg’s Teck Cominco’s Vice President, Refining and Sales, told analysts that the global zinc market “is still very tight” and that the “market is going to stay very tight for the metal for the whole year.”
Andrew Stonkus, Vice President, Concentrate Marketing, added that the “Chinese (zinc) market is continuing to show tremendous strength and growth.” Stonkus also predicted that China’s destocking phase will subside and copper imports will pick up again.
Although Teck Cominco launched a strong, but failed bid for fellow Canadian miner Inco earlier this year, Lindsay told analysts that he is far more interested in “maintaining a healthy cash balance,” and wait for price corrections that would reduce the price of any potential future acquisitions.
FINANCIALS
The company reported net earnings of $2.4 billion in 2006, almost double the net earnings of $1.3 billion in 2005. The higher earnings were attributed to “significantly higher commodity prices, partially offset by a weaker U.S. dollar.”
Operating expenses increased from $2.2 billion in 2005 to $2.7 billion last year - attributed to the higher cost of raw materials at the Trail smelter.
For the fourth-quarter 2006, the company reported a record $866 million in net earnings, up from $510 million in net earnings reported during the same period a year ago. The earnings also reflected an after-tax gain of $115 million for the sale of Inco shares.
CORPORATE DEVELOPMENT
The company expects to reach commercial production at its Pogo gold project in Alaska by April with full production anticipated in May. The company anticipates annual gold production of 350,000 to 400,000 ounces over the 10-year life of the project.
The refurbishment of Lennard Shelf zinc operation, a joint venture with Xstrata, is expected to commence shipping zinc concentrate in April.
Last month, Teck Cominco invested $30 million in Nautilus Minerals, which is exploring the ocean floor for gold, copper, zinc and silver massive sulphide deposits. The company also completed its purchase of 24.9% on a fully-diluted basis of Tahera Diamond for $30 million. Teck also invested $11 million to increase its interest from 7.5% to 11.5% in ZincOx Resources, which is developing a recycling strategy focus on the recovery of zinc from electric arc furnace dust.
OUTLOOK
Copper production at Highland Valley is expected to decrease by 30,000 tonnes this year as the mine begins a three-year transitional mining period. The company’s share of copper production at Antamina is expected to decrease by 8,000 tonnes, while Teck Cominco’s share of Zinc production is expected to increase by 40,000 tonnes.
The Lennard Shelf mine is anticipated to result in 30,000 tonnes of additional zinc production for Teck Cominco. Corporate gold production is expected to increase by 85,000 ounces due to the opening of Pogo mine.
Ear on the Street
Air Canada (AC.B : TSX : $19.75)
Q4 slightly beats expectations
BMO Capital Markets maintains "market perform", 12-month target price is $18.50
ACE Aviation Holdings (ACE.B : TSX : $36.13)
Q4 better than expected
BMO Capital Markets maintains "outperform", 12-month target price is raised to $41.00
CIBC World Markets maintains "sector perform", 12-month target price is raised to $40.50
AEterna Zentaris (AEZ : TSX : $4.59 | AEZS : NASDAQ : US$3.94)
Non-cash restatement of Q3 financials
RBC Capital Markets maintains "outperform", 12-month target price is $7.00
Aur Resources (AUR : TSX : $20.65)
Q4 in line
BMO Capital Markets maintains "market perform", 12-month target price is $22.00
Brookfield Asset Management (BAM.A : TSX : $60.47 | BAM : NYSE : US$51.75)
Q4 shows solid growth
BMO Capital Markets maintains "market perform", 12-month target price is raised to US$55.00
CIBC World Markets maintains "sector perform", 12-month target price is raised to US$55.00
BCE Inc. (BCE : TSX : $30.47 | NYSE : US$26.10)
Mixed Q4
BMO Capital Markets maintains "outperform", 12-month target price is $34.00
Baytex Energy Trust (BTE.UN : TSX : $20.19)
Year-end reserve up 4%
BMO Capital Markets maintains "outperform", 12-month target price is $24.50
CIBC World Markets maintains "sector perform", 12-month target price is raised to $20.00
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $18.25
TD Newcrest maintains "hold", 12-month target price is raised to $22.00
Blue Pearl Mining (BLE : TSX : $7.87)
New Street coverage
GMP Securities initiates coverage with a "buy", 12-month target price is $11.50
Brookfield Properties (BPO : TSX : $54.00 | NYSE : US$46.21)
Good Q4 results
BMO Capital Markets maintains "market perform", 12-month target price is raised to US$50.00
CanWest Global Communications (CGS : TSX : $11.18 | CWG : NYSE : US$9.54)
Privatization of CanWest MediaWorks Income Fund?
BMO Capital Markets maintains "outperform", 12-month target price is $13.00
Centerra Gold Inc. (CG : TSX : $13.61)
Heightened political risk in the Kyrgrz Republic and Mongolia
RBC Capital Markets downgrades to "outperform", 12-month target price is cut to $19.00
CI Financial Income Fund (CIX.UN : TSX : $26.38)
Acquires Rockwater
CIBC World Markets maintains "sector perform", 12-month target price is $28.50
Genuity maintains "buy", 12-month target price is $28.00
Canadian National Railway (CNR : TSX : $54.20)
Business still on track despite strike
Blackmont Capital maintains "buy", 12-month target price is $59.00
Crescent Point Energy Trust (CPG.UN : TSX : $16.83)
$600 million acquisition of Mission Oil & Gas
BMO Capital Markets maintains "outperform", 12-month target price is $21.00
Four Seasons Hotels (FSH : TSX : $94.97 | FS : NYSE : US$81.37)
Enters into a definitive agreement to go private
RBC Capital Markets maintains "sector perform", 12-month target price is US$82.00
Fortis Inc. (FTS : TSX : $27.68)
Fourth quarter and fiscal 2006 results beat expectations
BMO Nesbitt Burns upgrades to "outperform", target price raised to $29.50
Groupe Laperriere & Verreault (GLV.A : TSX : $31.50)
Q3 below estimates
Blackmont Capital maintains "buy", 12-month target price is cut to $38.50
BMO Nesbitt Burns maintains a "outperform", target price raised to $36.00
Desjardins Securities maintains a "buy", target price is $33.00
Hostopia.com (H : TSX : $6.30)
Inline Q3 numbers; conservative outlook
RBC Capital Markets reiterates "outperform", target price is $8.00
Kingsway Financial Services (KFS : TSX : $22.92 | NYSE : US$19.62)
Weak fourth quarter results
BMO Nesbitt Burns maintains a "market perform", target price cut to $23.00
Mainstreet Equity (MEQ : TSX : $15.00)
First quarter results topped expectations
Blackmont Capital maintains a "buy", 12-month target price is raised to $18.50
Matrikon Inc. (MTK : TSX : $3.40)
Departure of CFO
BMO Nesbitt Burns maintains a "market perform", target price is $4.00
Novelis (NVL : TSX : $51.18 | NYSE : US$43.82)
To be acquired by Hindalco
BMO Nesbitt Burns reiterates "underperform", target price is US$44.00
Desjardins Securities rates "tender", target price raised to US$44.93
Orleans Energy (OEX : TSX-V : $3.78)
Additional colour from new corporate presentation
GMP Securities maintains a "buy", target price raised to $5.00
Open Text (OTC : TSX : $26.91 | OTEX : NASDAQ : US$23.01)
Unveils product integration roadmap
BMO Nesbitt Burns maintains a "market perform", target price is US$23.50
Penn West Energy Trust (PWT.UN : TSX : $35.15 | PWE : NYSE : US$30.11)
Makes $339 million purchase of light oil and gas properties
BMO Nesbitt Burns maintains a "outperform", target price is $40.00
RBC Capital Markets maintains a "sector perform", 12-month target price is raised to $32.00
QLT Inc. (QLT : TSX : $10.67 | QLTI : NASDAQ : US$9.14)
Eligard patent settlement in line with expectations
RBC Capital Markets maintains a "sector perform", target price raised to US$9.00
Rockwater Capital (RCC : TSX : $7.60)
Supports takeover bid
TD Newcrest upgrades to "hold", 12-month target price is raised to $7.65
Shermag Inc. (SMG : TSX : $1.95)
Major sales decrease
GMP Securities downgrades to "hold", 12-month target price is $2.10
Seamark Asset Management (SM : TSX : $8.07)
Up 22% this year
BMO Nesbitt Burns maintains "underperform", 12-month target price is raised to $7.00
Softchoice Corp. (SO : TSX : $11.76)
Vista leading to software upgrades
BMO Nesbitt Burns maintains "outperform", 12-month target price is $14.50
GMP Securities maintains "buy", 12-month target price is raised to $17.00
TransAlta Corp. (TA : TSX : $24.21 | TAC : NYSE : US$20.75)
Difficult choices ahead regarding TransAlta Power distribution policy
BMO Nesbitt Burns maintains "underperform", 12-month target price is $22.50
Teck Cominco Ltd. (TCK.B : TSX : $85.36)
Class B share buyback
Credit Suisse rates "outperform", 12-month target price is $95.00
Desjardins Securities maintains "buy", 12-month target price is raised to $98.85
RBC Capital Markets rate "outperform", 12-month target price is $100.00
WestJet Airlines (WJA : TSX : $15.51)
More capacity, more passengers
RBC Capital Markets maintains "sector perform", 12-month target price is $18.00
West Energy Ltd. (WTL : TSX : $4.59)
Production estimates lowered
Blackmont Capital maintains a "buy", 12-month target price is cut to $7.00
GMP Securities maintains "buy", 12-month target price is lowered to $8.00
RBC Capital Markets rates "sector perform", 12-month target price is $7.00
Yamana Gold Inc. (YRI : TSX : $16.16)
Commercial production at Chapada mine
Blackmont Capital maintains "buy", 12-month target price is $20.00
Exploration Commences on M10 Massive Sulphide Prospect in Ecuador
Vancouver, BC - MPH Ventures Corp. (TSX.V: MPS) (the "Company") announces that it has commenced its field program on the M10 massive sulphide prospect in Ecuador. The M10 property is located in the Pichincha province, 50 kilometres west-southwest of Capital Quito in Ecuador, immediately north and adjoining Cornerstone Capitals and Coastport Capital's La Plata gold-rich VMS (volcanic massive sulphide) deposit, and covers an area of 4,915 hectares. MPH Ventures is earning a 50% interest in the M10 massive sulphide prospect from Lateegra Gold Corp.
M10 Ecuador Property Geological Map:
http://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-EC-M10geomap.jpg
The initial focus of the field program is mapping and sampling, with a particular focus on the southern area of the M10 concession. MPH Ventures was able to locate maps of field work carried out in the early 1990's, which have assay data and geological mapping information. The Company's field crew is going back to these areas of earlier work and will attempt to verify the information contained therein.
Stream sediment sampling commenced on Feb 11, 2007 and, subject to success and accessibility, the Company proposes to collect approximately 150 stream sediment samples for analysis.
The earlier maps show a grid on the south central portion of the M10 concession and MPH Ventures will attempt to recapture the old grid to commence the soil sampling. The grid and soil sampling will commence once an environmental study is completed. The Company expects the soil sampling to commence in about one month's time.
Once the grid and soil sampling are completed, MPH Ventures has budgeted for a geophysical survey (IP Mag.). Decisions about where to place the geophysical survey will be determined after the geological and analytical data is available.
The M10 property was identified by Ing Fredy Salazar, who spent several years as a senior geologist for Newmont Mining, and provided consulting services for Aurelian Resources. Mr. Salazar was instrumental in the identification of the land package known as the Condor project held by Aurelian Resources located in the emerging gold belt in southern Ecuador.
The exploration target on the M10 concession is the continuation of the La Plata polymetallic volcanogenic massive sulphide (VMS) trend. Mineralization at La Plata and in the area occurs at or near the north-south trending contact between intermediate and felsic volcanics. Recent results from drilling on La Plata by Cornerstone Capital and Coastport Capital returned significant massive sulphides including 6.7 metres averaging 11 g/t gold, 78 g/t silver, 23% zinc, 1% copper and 8.9 metres averaging 32 g/t gold, 289 g/t silver, 18% zinc, and 6% copper (see their news release dated June 22, 2006). The M10 concession covers 7.5 kilometres of potential strike length of favorable geology. Documented mineral showings are reported to exist on the property including the El Diablo showing located on the south limits of the property.
MPH Ventures Corp. is a gold, silver, and base metal exploration company focused on mineral exploration and development within Latin America.
For further information on MPH Ventures Corp. (TSX.V: MPS), visit the Company's web site at www.mphventurescorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim Pettit"
________________________________
James G. Pettit
President
For further information contact myself or:
Don Myers, MPH Ventures Corp., Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@mphventurescorp.com
Positive Drilling and Seismic Results Achieved on Oil Sands Prospect
Micron Enviro Systems Inc. (OTC-BB: MENV) (Frankfurt Stock Exchange: NDDA --- WKN:A0J3PY---ISIN: US59510E2072) ("Micron") has just been notified by the operator that, "Interpretation of the seismic data, core hole data and log data has confirmed our initial evaluation of the data on the Leismer Prospect. With further drilling there may be more than one potential SAGD oil sand pod on the property. Based on our oil sands model it appears that the formation is similar to the Petrobank channel directly to the SE of our property. Based on this data, the thickness of the formation could be 22 metres (72 feet)." A more intense work program is now being formulated with the ultimate goal of going into production on this prospect in the near future. This prospect lies directly between Petrobank and North American Oil Sands. Petrobank has stated a potential resource of 1.6 billion barrels and North American Oil Sands with a stated 4.09 billion potential barrels in ground.
Bernard McDougall, Micron's president stated, "This is very significant news for Micron. Based on this data management is very optimistic that this Oil Sands prospect could ultimately be put into production or even be sold to a larger company. It is extremely exciting for a company of Micron's minimal market capitalization to potentially have production from the Oil Sands. When you couple this great news with the fact that Micron has increased its net Oil Sands acreage by approximately 45 times over the past six weeks, management feels that the company's growth may not be reflected in the current share price. At this time, Micron is one of, if not the smallest, market capitalized company with multiple leases (seven) and now has positive operations underway in this world-class oil and gas producing region. This is quite an enviable position for a company of Micron's modest market capitalization, and therefore Micron offers tremendous leverage to one of the world's largest oil resources. Some junior companies such as Canwest Petroleum, now BQI on the AMEX (went from under $0.10 to over $8.90 based primarily on oil sands assets) have achieved tremendous growth via the Oil Sands. A recent third party independent report stated that there is potentially $3.7 billion (gross) worth of oil reserves on the total acreage that which Micron has an interest. This number does not reflect the new data from the Leismer Prospect or the massive increase in net acreage acquired over the past six weeks. Once an updated reserve report is completed our assets in ground should increase substantially. These are clearly the most exciting times for Micron and 2007 is shaping up to be a break out year for the Company."
Just this week Micron acquired a significant 50% interest in six new strategically located Alberta Oil Sands sections. Two of these new sections are located within and contiguous to the city of Fort McMurray, Alberta. Fort McMurray is the primary city where most of the largest Oil Sands facilities are located near, including Syncrude, Suncor and Petro-Canada. The other four new sections are located in the Peace River Oil Sands region and are contiguous to the recent acquisitions that were made last month. This now gives Micron eight contiguous sections at a location in the Peace River Oil Sands Region near the Shell/Blackrock Seal Producing project. Both of these acquisitions were paid for from funds that were in the bank. Please refer to the website at www.micronenviro.com for a map showing Micron's locations in relation to the majors close to Micron's leases.
Micron has also confirmed that representatives from the company will be attending two significant financial trade shows, one in Toronto, Canada on March 4-7 2007, and the other in Stuttgart, Germany in March 16-18, 2007.
Micron is an emerging oil and gas company that now has exposure to seven separate leases consisting of interest in 20.5 gross sections in the Oil Sands of Alberta, Canada, which is the largest Oil Sands region in the world, and has minor production from multiple conventional oil and gas wells. Micron's goal is to become a junior oil and gas producer that focuses on the exploration, discovery and delivery of gas and oil to the North American marketplace. Micron continues to look for additional projects that would contribute to building Micron's market capitalization, including additional Oil Sands projects.
If you have any questions, please call Micron at (604) 646-6903. If you would like to be added to Micron's update email list, please send an email to info@micronenviro.com requesting to be added.
Contact:
Micron Enviro Systems Inc.
Bernie McDougall
Phone (604) 646-6903
Fax: (604) 689-1733
ir@micronenviro.com
http://www.micronenviro.com
Ear on the Street
Aurora Energy Resources (AXU : TSX : $16.70)
Largest Canadian uranium outside of Athabasca
Canaccord Capital maintains "hold", 12-month target price is raised to $18.00
BPO Properties (BPP : TSX : $66.00)
Occupancies and rents rise
TD Newcrest maintains "hold", 12-month target price is raised to $72.00
CI Financial Income Fund (CIX.UN : TSX : $26.98)
Fairly valued units
CIBC World Markets maintains "sector perform", 12-month target price is $28.50
Scotia Capital Markets maintains "sector perform", 12-month target price is $28.00
TD Newcrest maintains "hold", 12-month target price is $26.00
Catalyst Paper (CTL : TSX : $3.94)
Expectation of eroding profit margins
Desjardins Securities maintains "sell", 12-month target price is $3.25
Raymond James maintains "underperform", 12-month target price is $3.25
RBC Capital Markets rates "underperform", 12-month target price is $3.25
Scotia Capital Markets maintains "sector underperform", 12-month target price is $3.80
TD Newcrest maintains "reduce", 12-month target price is $3.50
Crew Energy Inc (CR : TSX : $11.52)
Increasing growth rate
Raymond James maintains "outperform", 6-12-month target price is $18.00
Canexus Income Fund (CUS.UN : TSX : $7.03)
Releases partial Q4 results
CIBC World Markets maintains "sector perform", 12-month target price is $7.00
RBC Capital Markets maintains "outperform", 12-month target price is $7.75
CryoCath Technologies (CYT : TSX : $3.10)
Exciting outlook for Arctic Front
Blackmont Capital rates "buy", 12-month target price is $4.00
CIBC World Markets maintains "sector outperform", 12-month target price is $5.00
GMP Securities Securities maintains "buy", 12-month target price is $5.00
RBC Capital Markets maintains "outperform", 12-month target price is $7.00
Emergis (EME : TSX : $5.25)
Upside potential remains in the Canadian electronic health record market
Scotia Capital Markets maintains "sector outperform", 12-month target price is $6.00
Fording Canadian Coal Trust (FDG.UN : TSX : $27.00)
Coal price declines anticipated
CIBC World Markets maintains "sector underperform", 12-month target price is $23.00
Desjardins Securities maintains "hold", 12-month target price is $29.10
Scotia Capital Markets maintains "sector underperform", 12-month target price is $20.00
TD Newcrest maintains "hold", 12-month target price is $24.00
Finning International (FTT : TSX : $52.99)
Strong results reported
CIBC World Markets rate "sector outperform", 12-month target price is raised to $58.00
Desjardins Securities upgrades to "top pick", 12-month target price is $59.00
Raymond James upgrades to "outperform", 6-12 month target price is raised to $55.50
TD Newcrest maintains "buy", 12-month target price is raised to $57.00
Gateway Casinos Income Fund (GCI.UN : TSX : $18.84)
Waiting for Q4 results
Blackmont Capital downgrades to "hold", 12-month target price is $19.00
GobiMin (GMN : TSX-V : $2.25)
China needs nickel
Desjardins Securities maintains "buy", 12-month target price is $3.90
Home Capital Group (HCG : TSX : $32.10)
Report Q4/06 earnings today
Blackmont Capital maintains "hold", 12-month target price is $33.00
Cdn. Hotel Income Properties (HOT.UN : TSX : $16.19)
Another distribution increase
Raymond James rate "market perform", 6-12 target price is $16.00
Inmet Mining (IMN : TSX : $60.69)
Strong upside potential
RBC Capital Markets rates "outperform", 12-month target price is $90.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is $62.00
Innova Exploration (IXL : TSX : $5.76)
Operational update provided
Blackmont Capital maintains "hold", 12-month target price is $6.75
RBC Capital Markets rates "outperform", 12-month target price is $7.25
Logibec Groupe Informatique (LGI : TSX : $17.00)
Good sales momentum
GMP Securities Securities maintains "buy", 12-month target price is $19.00
Livingston Intl Income Fund (LIV.UN : TSX : $21.40)
Strong December trade volumes released by Statistics Canada
Scotia Capital Markets maintains "sector perform", 12-month target price is $21.00
Manulife Financial (MFC : TSX : $40.14 | NYSE : US$34.43)
Strong Q4 earnings
Desjardins Securities maintains "top pick", 12-month target price is raised to $48.00
GMP Securities maintains "buy", 12-month target price is raised to $47.00
TD Newcrest maintains "buy", 12-month target price is $44.00
MOSAID Technologies (MSD : TSX : $28.80)
U.S. court denies Mosaid and Infineon's joint submission
GMP Securities maintains "buy", 12-month target price is $34.00
Methylgene Inc. (MYG : TSX : $3.55)
Bough deal financing
RBC Capital Markets maintains "sector perform", 12-month target price is cut to $4.50
Peak Energy Services Trust (PES.UN : TSX : $4.45)
Cuts distribution by 33%
RBC Capital Markets maintains "sector perform", 12-month target price is $5.00
Softchoice Corp. (SO : TSX : $12.10)
Q4 in line
Raymond James maintains "outperform", 6-12 month target price is raised to $14.00
Student Transport of America (STB.UN : TSX : $11.50)
Q2 cash flow a little bit light
CIBC World Markets maintains "sector outperform", 12-month target price is $13.25
Stelco Inc. (STE : TSX : $20.25)
Impact of Q4 losses
CIBC World Markets rates "sector underperform", 12-month target price is cut to $20.00
Teck Cominco Ltd. (TCK.B : TSX : $86.83 | TCK : NYSE : US$74.77)
Q4 and 2007 guidance in line
Canaccord Adams maintains "buy", 12-month target price is $93.00
Desjardins Securities maintains "buy", 12-month target price is $98.85
GMP Securities maintains "buy", 12-month target price is $110.00
TD Newcrest downgrades to "hold", 12-month target price is $95.00
TVA Group (TVA.B : TSX : $14.60)
Weak Q4
CIBC World Markets upgrades to "sector perform", 12-month target price is raised to $15.00
RBC Capital Markets maintains "underperform", 12-month target price is $15.00
Scotia Capital Markets maintains "sector underperform", 12-month target price is $12.50
TD Newcrest downgrades to "reduce", 12-month target price is cut to $13.00
Vecima Networks (VCM : TSX : $10.25)
Q2 in line
CIBC World Markets maintains "sector outperform", 12-month target price is cut to $14.00
Raymond James maintains "outperform", 6-12 month target price is $12.50
Workbrain Corp (WB : TSX : $10.15)
Q4 reported yesterday
RBC Capital Markets maintains "outperform", 12-month target price is $11.00
Yellow Pages Income Fund (YLO.UN : TSX : $12.99)
Solid Q4
CIBC World Markets maintains "sector perform", 12-month target price is raised to $13.25
Desjardins Securities upgrades to "top pick", 12-month target price is raised to $15.00
RBC Capital Markets maintains "outperform", 12-month target price is $14.50
Scotia Capital Markets maintains "sector outperform", 12-month target price is $15.25
TD Newcrest maintains "buy", 12-month target price is raised to $14.50
ZCL Composites (ZCL : TSX : $12.86)
Acquires U.S.-based XAHC
Raymond James maintains "outperform", 6-12 month target price is raised to $14.25
Dear Investor,
Because you've previously expressed interest in similar companies, we'd like to take this opportunity to introduce you to one of our new clients, EcuaGold Resources Ltd. (TSXV: EGR). Please contact me if you would like to learn more about EcuaGold and wish to request an investor package.
Bruce Korhonen, Senior Account Executive
Toll free: 1.866.684.4743 ext. 230
Email: bruce@ascentacapital.com
EcuaGold Resources Ltd. is engaged in the acquisition, exploration and potential development of precious metals properties in southern Ecuador. The company presently controls a 100% interest in 12 concessions and has applications pending for 17 others. EcuaGold's land position currently exceeds 31,000 hectares, comprising eight distinct projects, and will approximate 82,000 hectares if the pending concession applications are granted in full.
The majority of EcuaGold's concessions are located in southern Ecuador, a highly prospective region that is currently host to a number of projects. These include, among others, Aurelian Resources' Condor Project, IAMGOLD's Quimsacocha Project, International Minerals' Rio Blanco and Gaby Projects and Dynasty Metals & Mining's Copper-Gold Belt, Jerusalem and Zamora Projects.
EcuaGold's principal properties are the Molleturo Project, a high-grade polymetallic vein system, and the Curiplaya Project, a gold-copper porphyry system. NI 43-101 Reports were recently prepared for each project in connection with EcuaGold's $6.9 million IPO and TSX Venture Exchange listing in January 2007.
CORONADO RESOURCES LTD.
CRD – TSX-V
Vancouver, B.C., Canada, February 15, 2007
Confirmation of Four Mineralized SKARN Zones
Underground Diamond Drill Mobilized
Coronado Resources Ltd. recently received a brief report form Mr. Thomas Evans consulting geologist and owner of Nevada based Western Geosciences Inc. Mr. Evans is also Technical Advisor for the company and acted as the on site geologist during the 2005 and 2006 diamond drill programs. His responsibilities included, drill hole locating, core logging and determination of sample intervals.
Mr. Evans has summarized that there are four distinct and separate mineralized skarn zones located on the property. As previously reported, the zones have returned excellent gold and copper assay results. Similarly the consultant presently preparing the resource calculation has verbally reported that early observations suggests that four separate mineralized skarn zones do exists as well as a massive sulfide zone.
This is in agreement with the earlier summation by company management and reported in a November 2nd 2006 news release that five zones do indeed exist.
The underground decline has reached a linear depth of 330 feet. Two underground drill stations have been established and an underground diamond drill is presently being mobilized to the property.
The company has agreed to re - price 500,000 employee options and has granted 100,000 additional options to an officer and employees all at $ 0.84 per share exercisable for a period of 2 years.
Eugene Larabie , P. Eng. Is the “qualified person” overseeing the project. For more information, please visit the company’s website at http://www.coronadoresourcesltd.com.
On Behalf of the Board
“Eugene Larabie”
Eugene Larabie , President
U.S. CO2 legislation threatens future of coal in power generation
By: Dorothy Kosich
Posted: '16-FEB-07 07:19' GMT © Mineweb 1997-2006
RENO, NV (Mineweb.com) --
Standard & Poor’s affirmed Wednesday that carbon dioxide emissions caps now being considered by the U.S. Congress could make domestic coal plants more expensive to build and operate.
Although coal prices have dropped significantly since early 2006, S&P’s analysis suggests that “we see moderation, not disaster in coal prices going forward.” Primary Credit Analysts Thomas Watters emphasized that “coal’s position in the domestic energy spectrum is well entrenched with abundant reserves and its lower cost versus other competing fuels.”
Watters suggested that coal’s potential to be used as an alternative fuel source should also be considered. Therefore, he stressed, “Longer-term fundamentals remain intact and should be supportive of coal prices.”
Nonetheless, S&P claimed that “not all coal producers will enjoy the party. Credit quality for Central Appalachia coal producers remains largely negative given the many issues faced by producers in that region. Extremely difficult geologic and operating conditions, an inexperienced labor force, legacy liabilities, and onerous permitting issues have combined to sharply increase operating costs, rendering many Central Appalachia producers insolvent.”
Needless to say, Central Appalachia coal producers rated by Standard & Poor’s are at the low end of the credit spectrum.
Meanwhile, S&P Primary Credit Analyst Ralph DeCesare noted that one of five bills now in Congress could finally this year become the first U.S. federal law limiting CO2 emissions from power plants. “Because coal burning for electricity contributes about one-third of the CO2 emitted in the U.S., any new law will have a significant impact on coal-burning electric utilities,” he suggested.
If a federal cap-and-trade system is enacted, DeCesare said it could cause utilities to use less coal either by retiring older coal-burning plants or building new non-coal power plants.
“Any such legislation would change the economics of burning coal for electricity, increasing the expense of operating a coal plant”, he noted. “The Clean Air Act of 1990 had a similar effect. Utilities are still spending money to remediate SO2 emissions, though they have been largely successful in passing these costs through to their customers.”
“Should CO2 legislation become law, utilities will try to get regulator approval to pass those costs on as well, DeCesare said. “Under almost any CO2 legislation scenario, utilities with a majority of nuclear power as their fuel source seem to be the obvious winners.”
DeCesare proposed that nuclear plant construction “could make a comeback. But even if a utility announced plans today to build a new nuclear plant, it would take at least seven years before power could be generated.”
Integrated Gasification Combined-Cycle (IGCC) uses coal to generate a clean-burning gas and make it easier and more economical to capture CO2. While the process costs more than traditional coal burning, DeCesare advised that IGCC could keep coal in the picture. Utilities will also emphasize energy conservation to reduce the need for more power plant construction, he suggested.
DeCesare concluded that current conditions “do pose a threat to coal’s growth rate and will affect its future market share of U.S. electricity generation.”
Novori Inc. Announces a reminder of upcoming 2-for-1 Common Stock Split
BELLINGHAM, WA--(MARKET WIRE)--Feb 16, 2007 -- Novori Inc. (OTC BB:NOVO.OB - News) - http://www.novori.com - announced today that the previously approved 2-for-1 common stock split will be taking effect tomorrow, February 16, 2007, which makes today the last day of trading prior to the split.
"This stock split reflects our continued confidence in the long-term outlook for Novori. It will increase tradable shares and result in a market price that should be attractive to a broader group of investors," said Harold Schaffrick, Chairman and Chief Executive Officer.
Forrester's Research recently confirmed that the online Jewelry sales industry is skyrocketing and estimates that the online diamond industry will grow from $2.1 billion in 2005 to $8 billion in 2010, making it the 3rd fastest growth industry for Internet sales. Although only at its early stages of development Novori has already shown great growth with 2006 revenues exceeding 2005 by 2,374%.
About Novori Inc.
Founded in 2004, Novori is a leading online interactive retailer of diamond engagement rings and fine jewelry. Novori launched their website in 2005 and has built a well-respected brand by providing consumers with superior customer service and a better way to buy diamond engagement rings. Novori prides its self on the highest quality standards in the industry and provides consumers with unique online tools to allow consumers to explore, build and purchase their own custom made diamond rings in a way not previously offered by traditional retailers. The Novori.com web site offers thousands of independently certified diamonds, settings and fine jewelry at prices significantly below traditional retail. Novori's shares are traded on the Over the Counter market (OTCBB) under the symbol NOVO.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "foresee," "revolutionary," "should," "ideal," "extremely," and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Novori's filings with the Securities and Exchange Commission, including, without limitation, Novori's recent Form 10-KSB and Form 10-QSB, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Contact:
Investor Relations:
1-888-646-5677
Ear on the Street
AutoCanada Income Fund (ACQ.UN : TSX : $10.75)
Restructuring of Chrysler is positive for AutoCanada
Scotia Capital Markets maintains "sector outperform", 12-month target price is $12.50
Agnico-Eagle Mines (AEM : TSX : $47.10 | NYSE : US$40.53)
Friendly takeover bid for Cumber Resources
Blackmont Capital maintains "hold", 12-month target price is cut to $48.00
Desjardins Securities maintains "buy", 12-month target price is $62.75
Raymond James upgrades to "outperform", 6-12 month target price is raised to $54.00
RBC Capital Markets maintains "sector perform", 12-month target price is US$51.00
Algoma Steel (AGA : TSX : $51.44)
In talks with a potential buyer
BMO Capital Markets upgrades to "outperform", 12-month target price is raised to $60.00
CIBC World Markets maintains "sector outperform", 12-month target price is raised to $50.00
GMP Securities maintains "buy", 12-month target price is raised to $57.50
RBC Capital Markets maintains "outperform", 12-month target price is raised to $77.00
Alexis Minerals Corporation (AMC : TSX-V : $1.20)
More gold assays from Lac Herbin
Canaccord Adams maintains "buy", 12-month target price is raised to $1.35
Alexis Nihon REIT (AN.UN : TSX : $19.00)
Homburg offers $18.50/unit for Alexis Nihon
Scotia Capital Markets maintains "sector perform", 12-month target price is $18.75
ATS Automation Tooling Systems (ATA : TSX : $11.05)
Disappointing Q3
Blackmont Capital downgrades to "hold", 12-month target price is cut to $10.50
Credit Suisse maintains "neutral", 12-month target price is $11.25
Raymond James downgrades to "market perform", 6-12 month target price is cut to $11.50
ATS Andlauer Income Fund (ATS.UN : TSX : $13.00)
Q4 better than expected
RBC Capital Markets maintains "outperform", 12-month target price is raised to $13.00
Advantage Energy Income Fund (AVN.UN : TSX : $12.38 | AAV : NYSE : US$10.67)
$100 million financing closed
BMO Capital Markets maintains "underperform", 12-month target price is $12.00
CIBC World Markets reinstates coverage with a "sector underperform", 12-month target price is raised to $11.25
Scotia Capital Markets reinstates coverage with a "sector underperform", 12-month target price is $11.50
BPO Properties (BPP : TSX : $66.00)
Q4 FFO above expectations
CIBC World Markets maintains "sector outperform", 12-month target price is raised to $73.00
Chemtrade Logistics Inc Fd (CHE.UN : TSX : $8.12)
Conservative stance taken heading into fourth quarter earnings release
Blackmont Capital maintains a "sell", 12-month target price is $7.00
Cumberland Resources (CLG : TSX : $8.65)
Takeover bid from Agnico-Eagle
Raymond James downgrades to "market perform", 6-12 month target price is $8.50
Creststreet Power & Income (CRS.UN : TSX : $5.64)
Alberta windfarm transaction implies higher valuation metrics
Scotia Capital Markets maintains "sector perform", 12-month target price is raised to $5.25
Commercial Solutions (CSA : TSX : $6.28)
Weaker than expected Q1
GMP Securities maintains "buy", 12-month target price is $8.30
Raymond James downgrades to "market perform", 6-12 month target price is cut to $7.50
Chartwell Seniors Housing REIT (CSH.UN : TSX : $17.66)
Positive implication of higher bid for Sunrise
BMO Capital Markets maintains "market perform", 12-month target price is raised to $17.00
Catalyst Paper (CTL : TSX : $3.93)
Weak Q4
CIBC World Markets maintains "sector perform", 12-month target price is cut to $3.50
Raymond James maintains "underperform", 6-12 month target price is $3.25
RBC Capital Markets maintains "underperform", 12-month target price is $3.25
Labopharm Inc. (DDS : TSX : $6.99 | DDSS : NASDAQ : US$6.00)
Q4 and full-year results coming today
Canaccord Adams maintains a "buy", target price is $10.30
Empire Company (EMP.A : TSX : $41.86)
Future looking slightly better
Scotia Capital Markets upgrades to "sector perform", 1-year target price raised to $44.50
Extreme CCTV (EXC : TSX : $3.39)
Reports second quarter results
Canaccord Adams maintains a "speculative buy", target price raised to $3.90
HudBay Minerals (HBM : TSX : $23.08)
Production results from 2006 and guidance for 2007 meet expectations
RBC Capital Markets maintains a "outperform", target price is $29.00
Home Capital Group (HCG : TSX : $34.29)
Some concerns taken away from quarterly report
Blackmont Capital maintains a "hold", 12-month target price is $33.00
Cdn. Hotel Income Properties (HOT.UN : TSX : $16.71)
Reports in line Q4/06 results; ups distribution by 3.2%
BMO Nesbitt Burns maintains "outperform", target price raised to $17.00
Canaccord Adams maintains "buy", 12-month target price is raised to $17.00
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $17.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is $16.40
TD Newcrest maintains a "buy", 12-month target price is raised to $17.00
Inmet Mining (IMN : TSX : $61.22)
Q4/06 results below expectations; 2007 production guidance short of estimates
Canaccord Adams reiterates "buy", target price is $70.00
CIBC World Markets maintains a "sector outperform", target price is $75.00
Credit Suisse maintains a "outperform", target price raised to $70.00
GMP Securities continues to rate "buy", target price is $72.00
TD Newcrest maintains a "buy", 12-month target price is raised to $70.00
IPL Inc. (IPI.A : TSX : $7.50)
Turnaround story showing momentum
GMP Securities upgrades to "buy", target price is $9.50
Canadian Hydro Developers (KHD : TSX : $6.30)
B.C. goes green
Scotia Capital Markets maintains "sector outperform", 12-month target price is $7.75
Mainstreet Equity (MEQ : TSX : $17.00)
Boosted by Alberta property values and rental conditions
Desjardins Securities maintains a "top pick", target price raised to $24.60
Melcor Developments (MRD : TSX : $24.00)
Potential highlighted by Brookfield's Alberta land operation
Desjardins Securities maintains a "top pick", target price is $33.15
Mavrix Fund Management (MVX : TSX : $1.90)
Reports fourth quarter and F06 results
GMP Securities reiterates "buy", 12-month target price is raised to $2.50
NUCRYST Pharmaceuticals (NCS : TSX : $4.88 | NCST : NASDAQ : US$4.22)
Sales of lead product slowing down
GMP Securities maintains a "buy", target price cut to US$8.00
Nortel Networks Corp. (NT : TSX : $36.09 | NYSE : US$31.06)
Slowly turning the corner
RBC Capital Markets maintains a "sector perform", target price raised to US$32.00
Onex Corporation (OCX : TSX : $29.55)
Reports Q4/06 and year-end results
BMO Nesbitt Burns maintains "outperform", 12-month target price is $33.00
GMP Securities rate "hold", 12-month target price is $28.55
Peyto Energy Trust (PEY.UN : TSX : $17.49)
2006 reserve report
BMO Nesbitt Burns maintains "market perform" 12-month target price is $18.00
ProEx Energy Ltd. (PXE : TSX : $13.36)
Pipeline bottlenecks hamper growth
Raymond James maintains "strong buy", 12-month target price is $22.00
Stylus Energy (STY : TSX : $2.70)
Oil and gas properties in Alberta
BMO Nesbitt Burns initiate coverage with "market perform", 12-month target price is $3.50
Sunrise Senior Living REIT (SZR.UN : TSX : $18.05)
New bid tops Ventas
BMO Nesbitt Burns rates "market perform", 12-month target price is raised to $18.00
RBC Capital Markets maintains "sector perform", 12-month target price is raised to $18.00
Teck Cominco Ltd. (TCK.B : TSX : $87.39 | TCK : NYSE : US$75.18)
Soft quarter; outlook remains solid
BMO Nesbitt Burns maintains "market perform", 12-month target price is $86.00
CIBC World Markets maintains a "sector perform", target price is $100.00
Teknion Corporation (TKN : TSX : $4.25)
Continued FX pressure
BMO Nesbitt Burns upgrades to "market perform", 12-month target price is raised to $6.00
Scotia Capital Markets rates "sector underperform", 12-month target price is $4.40
TD Newcrest maintains "buy", 12-month target price is $5.50
TransCanada Corp. (TRP : TSX : $38.02 | NYSE : US$32.70)
$1.5 billion equity offering
CIBC World Markets maintains "sector outperform", 12-month target price is $43.00
Scotia Capital Markets rates "sector outperform", 12-month target price is reduced to $43.00
Workbrain Corp (WB : TSX : $9.69)
Weaker than expected results
CIBC World Markets maintains "sector perform", 12-month target price is $9.00
GMP Securities rate "buy", 12-month target price is $11.50
RBC Capital Markets downgrades to "sector perform", 12-month target price is $10.00
Scotia Capital Markets rates "sector underperform", 12-month target price is $8.50
WestJet Airlines (WJA : TSX : $15.72)
Q4 beats the expectations
BMO Nesbitt Burns maintains "market perform", 12-month target price is raised to $16.00
Canaccord Capital maintains "buy", 12-month target price is raised to $18.25
Credit Suisse maintains "outperform", 12-month target price is raised to $20.00
Desjardins Securities maintains "buy", 12-month target price is $17.50
Raymond James rates "outperform", 6-12 month target price is raised to $18.50
Scotia Capital Markets maintains "sector perform", 12-month target price is raised to $18.25
TD Newcrest maintains "buy", 12-month target price is raised to 19.00
George Weston Ltd. (WN : TSX : $72.00)
Bearish outlook at Loblaw dominates
CIBC World Markets maintains "sector underperform", 12-month target price is cut to $63.00
Credit Suisse maintains a "outperform", target price is $88.00
RBC Capital Markets maintains a "sector perform", target price is $75.00
Scotia Capital Markets downgrades to "sector underperform", 1-year target price cut to $71.50
TSX Group (X : TSX : $50.17)
New exchange in Calgary
CIBC World Markets maintains "sector outperform", 12-month target price is $60.00
Scotia Capital Markets rates "market perform", 12-month target price is $55.00
Undervalued Stock #1 ========== -------------- Assurant Inc. (NYSE: AIZ) -------------- Insider Name: Howard L. CarverInsider Position: DirectorInsider Action: 2,000 shrs on 2/14/2007Insider Total Holding: 16,521 shrs -------------------------------------------------------Undervaluation Merits... P/E Ratio = 9.8 (Industry Average 16.8)P/S Ratio = 0.84 (Industry Average 1.05)P/B Ratio = 1.76 (Industry Average 2.94) Industry: Health & Accident, Insurance -------------------------------------------------------Other Merits... Dividend Yield = 0.7% -------------- Assurant Inc. (NYSE: AIZ)
Symbol NDL
Shares Issued 32,101,518
Close 2007-02-15 C$ 0.28
Recent Sedar Documents
Nordic hopes Sunrise brings Finnish sparkle
2007-02-15 14:35 ET - Street Wire
by Will Purcell
Walter Melnyk's Nordic Diamonds Ltd. and Sunrise Diamonds PLC plan to drill their Kuopio-Kaavi diamond project in Finland. The property lies on the western fringe of the highly diamondiferous Karelian craton and contains several pipes that yielded modest diamond grades. The new drill program will seek new discoveries and will probe some of the existing finds.
The plan
The Kuopio-Kaavi partners are currently lining up several drill targets, but must wait until spring to start the new work. The project saw little work since Sunrise signed an option deal last summer, but that will change starting this year because of the escalating spending requirements laid out in the deal.
Sunrise can earn a 75-per-cent interest in Kuopio-Kaavi by spending approximately $1.5-million over a four-year period. Nordic's new partner had no spending requirement the first year, but it must spend nearly $250,000 in the second year of the deal and $750,000 in the third year.
Some of the old kimberlite finds appear worth a closer look and Nordic tried drilling some of the pipes a few years ago, with mixed results. The original partners on the project, Ashton Mining Ltd. and Dia Met Minerals Ltd., obtained intriguing grades in some of the 20 pipes they found during the 1990s and their preliminary work left several mineral trains unexplained. As a result, tracking new kimberlites in the area will be a key part of the planned drill program.
Nordic's president, Walter Melnyk, said his company had little choice but to make a deal with Sunrise, after it scooped up all the old exploration data covering Nordic's project. The information went to Rio Tinto PLC and BHP Billiton Inc. when they took over Ashton and Dia Met several years ago, and both companies rebuffed Nordic's attempts to acquire the data.
The two mining majors apparently had an agreement preventing the transfer of the data without the other's approval, but the arrangement quietly expired. Sunrise jumped first, getting data covering all the Nordic ground, as well as its own. That left Nordic having to start exploring from scratch, or to make a deal with its rival. Mr. Melnyk chose the latter course.
The encouragement
Nordic's Kuopio-Kaavi property contains 16 of Ashton's kimberlite finds and all of them carried diamonds. Ashton completed mini-bulk samples on some of its finds and a few produced grades ranging from 0.10 to just over 0.25 carat per tonne and Nordic retested two of the pipes in 2004.
Ashton got a grade of about 0.13 carat per tonne from the No. 12 kimberlite, but Nordic was disappointed with its own test that yielded 133 microdiamonds from 150 tonnes of rock. The poor size distribution of the parcel and the small and complex nature of the pipe precluded further work.
The company thought better of its No. 21 pipe, where Ashton got a grade of 0.27 carat per tonne from about 16 tonnes of kimberlite. Nordic recovered 330 diamonds from 280 kilograms of kimberlite taken from the 1.3-hectare pipe, and the size distribution was more promising. The result left Nordic planning to step up its search for new pipes near No. 21, as well as more tests of the pipe itself.
Explorers on the Russian portion of the Karelian craton discovered some rich diamond deposits. The Lomonosova pipe covers about 13 hectares and the Archangelsk pipe is just slightly smaller. Both have grades of one carat per tonne or more, with diamond values well above $125 (U.S.) per carat. The combination of size, grade and value puts the gross value of the large Archangelsk pipe cluster at well over $30-billion (U.S.), providing added incentive for the Kuopio-Kaavi partners.
Whistler is pretty pricey.
Well I'm off to the Log Cabin for breaky.
Later.
If the snow falls they will come from around the world.
If we get a hot spring there will be a lot of flooding.
I'm going to keep looking. I'll find me a place yet.
It appears that the prices have leveled off a bit,.
In the interior anyway.
Mornin' John...
The land around Prince George and Quesnel seems to be reasonable. I'm going to have to take a look up there this year.
ROTFLMAO!!!!!!!!!!!
The lights are on but no ones home.