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Uranium - United Carina
Please read to the end where United Carina is mentioned.
Brokers' Picks
by Dorothy Hoffert
November 17, 2004
www.resourceworldmag.com
The increasing price of uranium, also referred to as "yellowcake," has recently caused a great deal of market activity for the shares of companies focused on uranium exploration - whether they are grassroots or advanced projects. The price of uranium has increased from US $12.75 per pound at the end of October 2003 to its current levels of $20.00 per pound with prices expected to continue to rise.
World consumption of uranium has been exceeding production for a number of years. The shortfall has been made up through secondary sources such as excess inventories, the dismantling and recycling of nuclear weapons and used reactor fuel that has been reprocessed. Concerns over shortages of oil and gas with resulting high prices in these fossil fuels, along with environmental issues regarding greenhouse gas emissions has fueled a new interest in nuclear energy as the source of power to meet current and future global demand for electricity.
Nuclear energy offers a clean and efficient alternative to energy produced from coal, oil or natural gas. Electricity is produced at lower costs and a nuclear generating plant does not produce carbon dioxide emissions. New supplies of uranium will come at a higher cost which, in turn, will continue to put upward pressure on the price of uranium.
The Athabasca Basin of northern Saskatchewan, Canada is the largest and richest uranium producing region in the world and accounts for more than 33% of annual world production.
Cameco Corporation [CCO-TSX; CCJ-NY] is the world's largest, low-cost uranium producer and supplies 20% of the world's consumption. The company operates and owns a controlling interest in uranium mines and mills at McArthur River, Key Lake and Rabbit Lake, all located in the Athabasca Basin. The McArthur River Mine is the world's largest, highgrade uranium deposit with proven and probable reserves of 437 million pounds of U3O8. The average ore grade is 25% U3O8 and is valued at US $10,000/ton, a gold equivalent of 25 oz/ton. Given the above numbers, it is no wonder why there is enormous interest in exploring for uranium in this region of Canada.
The die-hard of the junior uranium explorers is JNR Resources Inc. [JNN-TSXV]. The company first began its land acquisition program in the Athabasca Basin in 1997. JNR joint ventured these projects with Kennecott (between 1998 and 2002) which made over $6 million in expenditures developing promising targets. Unconformity-type uranium mineralization was discovered on the Moore Lake property in 2000 and significant uranium mineralization was intersected in the third hole of a 10-hole program, returning 0.442% U3O8 over 9.2 metres. In the fall of 2003, JNR formed a joint venture on the Moore Lake property with International Uranium Corp. [IUC-TSX]. The 2004 diamond drilling program focused on following up the uranium mineralization in the Maverick Zone. Assays released in August included 5.0 metres of 3.5% U3O8 and 6.2 metres of 5.14% U3O8 and results released in September assayed 4.03% U3O8 over 10 metres which included a 1.4-metre intercept 19.96% U3O8.
Northern Continental Resources Inc. [NCR-TSXV] also recognized the growing need for economic sources energy and acquired a large land package in the heart of the Athabasca Basin's most productive zone. The Russell Project encompasses 39,378 hectares (93,305 acres) and is situated on strike and midway between the former producing Key Lake deposit and the MacArthur River deposit and west of the Moore Lake project. The property has year-round access. There is a power line, and the all-weather road located along the northwest boundary of the property is used to transport uranium ore from the McArthur River Mine to Key Lake for processing. Historic exploration conducted by SMDC (the predecessor to Cameco) on the Russell Project resulted in the discovery of the Grayling Zone and NCR's exploration has focused on this zone. Diamond drill holes intersected sub-economic uranium mineralization grading 3.45% U3O8 over 0.3 metres and 0.4% U3O8 over 3.75 metres over a strike length of 800 metres. The holes encountered the basal Athabasca Group unconformity at 320-350 metres below surface within a zone of strong structural deformation and hydrothermal alteration. Four other areas outside of the Grayling Zone have been identified for further exploration. This year's initial exploration program will include 60 km of line cutting and electromagnetic surveys to confirm drill set-up locations and 3,600 metres of diamond drilling in 10 holes.
Trading volumes in "uranium shares" has slowed down in recent weeks. However, as exploration programs are ongoing, more news from these companies will be forthcoming and the market slow-down offers good opportunities for aggressive investors to add shares of these companies to their portfolios as the long-term uranium market outlook remains positive.
Other juniors active in the area are CanAlaska Ventures Ltd. [CVV-TSXV], Consolidated Abaddon Resources Inc. [ABN-TSXV], Formation Capital Corp. [FCO-TSX], Southern Cross Resources Inc. [SXR-TSX] and United Carina Resources Corp. [UCA-TSXV] to mention a few.
November 2004 www.resourceworldmag.com
Dorothy Hoffert
Dorothy Hoffert has been an Investment Advisor for 20 years with a focus on the Mining Sector.
She can be reached at Wolverton Securities at 604-662-5271.
Dorothy Hoffert, her clients and/or Wolverton directors, employees or clients may own shares in any of the companies discussed.
Addressing all present bashers:
Isn't it about time you faced the truth and moved-on to another board where you MIGHT be able to serve some useful purpose?
The regulars here really don't care to hear the crap. That's why we're here and either: (1) Make ourselves useful to the other board members by posting relevant, USEFUL information; or (2) Shut-up and read what others have posted to gain some knowledge and USEFULNESS.
P
Diamond leaders aim to restore lustre
Hmmm.....Did I read something about a new marketing strategy....Crystallix?
BELGIUM
Diamond leaders aim to restore lustre
Posted Tue, 16 Nov 2004
About 500 diamond industry leaders gathered in Antwerp Monday for a conference aimed at restoring lustre to the sector, threatened by a loss of its main asset: desirability.
So-called "blood" or "conflict" diamonds that finance wars, money laundering suspicions and the social and environmental impact of diamond mining have tarnished the industry's image, said Garret Penny, an executive of Diamond Trading Company (DTC), the sales and marketing division of South African diamond mining giant De Beers.
In addition, the arrival of synthetic diamonds on the market represents "one of the greatest challenge our industry has ever faced," Penny said.
Only irreprochable ethical practices and total transparency regarding diamond quality will restore consumer confidence in a product that symbolises love, he said.
For Dan Ben Ary, an Israeli marketing specialist, the diamond industry needs a more youth-oriented marketing strategy.
Buying a diamond in a jewelry shop today is "a very boring retail experience," Ary said. Diamond sellers market their wares as products, while other luxury goods retailers market "the promise of an experience."
South African President Thabo Mbeki is the keynote speaker at a two-day conference in the northern Belgian port city, long known as the world capital of the ultimate gemstone.
Antwerp, Belgium's second city, sees some 80 percent of the world's uncut diamonds pass through its workshops and dealing rooms annually, and more than 50 percent of the global supply of cut diamonds.
Along with South Africa's president, other speakers at the conference will include Vladimir Kalitin of Russia's Alrosa diamond producing monopoly and Gary Ralfe, deputy head of South African group De Beers.
The conference was organised for the third consecutive year by the High Diamond Council, the official representative of the Belgian diamond industry.
AFP
Kensington Resources Ltd.: Drilling Update
Looks like our neighbors are busy even if we are not!
Press Release Source: Kensington Resources Ltd.
Kensington Resources Ltd.: Drilling Update for the 2004 Fort a la Corne Diamond Project Evaluation Program
Wednesday November 17, 12:58 pm ET
VICTORIA, British Columbia--(BUSINESS WIRE)--Nov. 17, 2004--Kensington Resources Ltd. (the "Company") (TSX VENTURE:KRT - News) is pleased to report completion of 32 coreholes on five different kimberlite bodies located in the central cluster of the Fort a la Corne Kimberlite Field. In addition, large diameter drilling is well underway with completion of five holes located on the southern part of Kimberlite 140/141. The 2004 program is significant as it represents the largest and most aggressive program to date for the Fort a la Corne Diamond Project. CDN $7.6 million has been budgeted for this program and the objective is to further advance the geological understanding of high grade zones and their diamond content within the largest kimberlite cluster in the world.
ADVERTISEMENT
"We are pleased to report that the program is progressing on schedule. We anticipate significant advances in the understanding of the kimberlite geology and delineation of high-grade zones in several of the targeted bodies," says Robert A. McCallum, President and CEO.
The drilling program was initiated on September 1, 2004 with coreholes targeted on kimberlite bodies 140/141 and 122 to act as pilot holes for large diameter drilling, and to increase confidence in current geological and diamond distribution models. Coreholes were also targeted on kimberlite bodies 120, 147, 121 and 221 in broad patterns to provide information and samples for development of geological models including identification of higher-grade zones, and to permit higher confidence grade forecasts. Geological models and diamond recoveries will be released together as results are received from the operator. A total of 3,482.32 metres of kimberlite have been cored from a total of 7,441 metres drilled. The core will be examined in detail by De Beers' petrologists in Saskatoon and sampled for microdiamonds. Microdiamonds will be recovered at the Saskatchewan Research Council after which they will be transferred to the De Beers Kimberley Microdiamond Laboratory (KMDL) for weighing and shape classification of each stone.
The 2004 program was expanded to permit up to ten large diameter minibulk drillholes (LDDH) positioned on high-grade zones in kimberlites 140/141 and 122. Five targets were located on the south 140/141 breccia beds to collect additional diamonds that will be used to increase the level of confidence in grade forecasts, and to provide preliminary valuations for revenue modeling by De Beers experts. The total estimated mass of kimberlite excavated from the five holes was 842.52 tonnes of which 496.26 tonnes of material greater than 1.5 mm in size were retained for macrodiamond recoveries. Forty-six samples of retained material were shipped to De Beers' dense media separation plant located in Grande Prairie, Alberta for the first stage of diamond recovery procedures.
For more details and photos on the 2004 field program, visit our website at www.kensington-resources.com. Summary tables for the current drilling progress are available and drillhole maps for each of the kimberlite bodies investigated in 2004 will be made available as they are received from the project operator.
Brent C. Jellicoe, P.Geo. is the Qualified Person for the Company and has reviewed the technical information herein. All aspects of quality assurance, quality control, and sample chain of custody for the Fort a la Corne Joint Venture are managed by De Beers Canada Exploration Inc., the project operator.
Kensington Resources Ltd. is a diamond development company currently focused on the high potential Fort a la Corne Diamond Project in Saskatchewan. The management team includes strong technical expertise and is committed to reaching diamond producer status for the realization of shareholder value. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.245%), De Beers Canada Exploration Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). After over fifteen years of exploration in Fort a la Corne, the joint venture partners are now planning future programs with a view to entering into an accelerated results-driven advanced exploration and evaluation phase targeted on reaching a pre-feasibility decision within the next three years. The Fort a la Corne Diamond Project includes 63 identified kimberlite bodies within the largest diamondiferous kimberlite cluster in the world.
Robert A. McCallum, President & CEO
Kensington Resources Ltd.
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Kensington Resources Ltd. (TSX VENTURE:KRT - News)
dustybutler1 - Who filed today?
I've checked Edgar at the link you provided and I didn't see anything out of the ordinary. Although you did provide the link to hundreds upon hundreds of filings, instead of the one which you wanted to point-out.
Are we all missing something?
GLTA,
P
Congrats!
Nice work! Just out of curiosity, what was your short price? How did you arrive at that figure?
Only curious since goog is pretty darn expensive/share, and it's been moving $5-6 a day. Tough nut for me to crack.
Thanks,
P
Ditto. Thanks Dusty!
Please refer to post #21515.
I am through with you.
Regards,
P
Zen - Thanks for the time & effort!
Thanks for all of the time you've given us in order to provide your thoughtful insights. I wish you the best of luck on CMKX and its JV's, and the same goes for all of us other longs who post here.
To those who choose to believe Zen and others, who have traditionally been quite supportive of CMKX as an INVESTMENT (AND NOTHING MORE!) are somehow betraying CMKX, UC, RG, and the rest of the CMKX family.....
I can only advise you to pull your head out of your a$$ and realize that whether we like it or not: UBL is still out there, Bush (thankfully) will be our nation's CEO for the next four years, and CMKX is ONLY A STOCK WHICH YOU INVEST IN!
Thanks for indulging me here, and PLEASE quit posting baseless attacks towards fellow board members.
P
Yeah....and the darn bashers are still on this like flies on sh%t!
Those Chi-town White Sox never were worth their weight anyway.
P
Thanks make_me_money0. I appreciate everything you, Mach, and Mex do here.
Or make_me_money0! Thanks man.
Mach,
Thanks for getting rid of those from our good buddy h. Sorry my post made it prior to realizing you already had the right medecine!
Have a good evening!
P
Naw.....Just those of us who have heard enough of the board-clutter & BS.
We can find plenty of BS on our own, and don't need the basher contingency to point it out to us as if we were unable to read or research.
Understand? Damn sure hope so.
Best regards,
P
Remember - DO NOT REPLY TO JS OR OTHER BASHERS!
Just let the wicked b%*ch get dressed-up in her Halloween costume by herself.
She and the othe bashers are like a cancer.....by feeding them they only become more difficult for our board moderators to remove.
BTW - Thanks guys!
Go CMKX!
P
SEC's USCA Trading Halt "Statement"
Not sure if this has been posted yet, but here it is for what it's worth.
http://www.sec.gov/litigation/suspensions/34-50599.htm
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
SECURITIES EXCHANGE ACT OF 1934
RELEASE NO. 50599 / October 28, 2004
The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 ("Exchange Act"), of over-the-counter trading of the securities of U.S. Canadian Minerals Inc. (OTC Bulletin Board symbol “USCA”), of Las Vegas, Nevada. The suspension will commence at 9:30 a.m. EDT, October 28, 2004, through 11:59 p.m. EST, on November 10, 2004.
The Commission temporarily suspended trading in the securities of U.S. Canadian Minerals because of questions that have been raised about the accuracy of publicly disseminated information concerning, among other things, U.S. Canadian Minerals’ financing and mining activities and the value of U.S. Canadian Minerals’ purported assets.
The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by U.S. Canadian Minerals.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to the securities of U.S. Canadian Minerals until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation for the stock of U.S. Canadian Minerals that is in violation of the rule, the Commission will consider the need for prompt enforcement action.
The Commission acknowledges the assistance of the National Association of Securities Dealers, the Saskatchewan Financial Services Commission, and the United Kingdom Financial Services Authority in this matter.
If any broker-dealer or other person has any information that may relate to this matter, call Michele Wein Layne of the Pacific Regional Office of the Securities and Exchange Commission at (323) 965-3850.
http://www.sec.gov/litigation/suspensions/34-50599.htm
I very much agree with you.
But the MM's don't know that! And I'd bet Glenn has already discussed the possibility with his clients and admitted that the possibility exists.
This has been too well planned for CMKX,UCAD, etc. to back-down at that juncture.
We'll see. Or shall I say, hopefully we won't see!
P
That does indeed warm my heart!
And you also touched-on the key point in the back of my mind that would REALLY force the issue with the MM's.....the possibility of a criminal act in-the-process?
If this is the case for the honchos of the guilty MM firms, I believe the idea of spending time in the 'big house'....no, not UC's!......could force the MM's to reach in that hidden spot in their wallet and pull-out the extra cash necessary to cover.
I trust Glenn to take this one to the endzone in a civil court if necessary. I'd bet a few million CMKX shares that Glenn and the Edwards & Angell team have some passable litigators on staff, if not Glenn himself!
We'll just see if it comes to that!
P
Hoby111
The third possible scenario....and one which warms my heart I must say....is that this NECESSITATES the MM's to go to UC and the boys at UCAD/GEMM and BEG for additional shares to be released/sold into the open market.
....and of course Glenn would make sure that didn't happen until the prices of UCAD, GEMM, CMKX, etc. rose to the 'acceptable' stinging-level.
Just a thought.
P
Not sure what to make of this??
Could be the truth that Kensington's 150 pipe isn't one they foresee future investment in.....?
Or it could be Kensington (and DeBeer's) are making a play to try and sway the hopes of CMKX shareholders on the FALC?
Zen - What do you think?
http://biz.yahoo.com/bw/041015/155552_1.html
TEXT:
Press Release Source: Kensington Resources Ltd.
Kensington Resources Ltd.: Microdiamond Results for FALC 150 Core
Friday October 15, 4:27 pm ET
VICTORIA, British Columbia--(BUSINESS WIRE)--Oct. 15, 2004--Kensington Resources Ltd. (TSX VENTURE:KRT - News; the "Company") announces that it has received from the operator, De Beers Canada Exploration Inc., microdiamond results from the Kimberley Microdiamond Lab (KMDL) for Kimberlite Body 150 of the Fort a la Corne Diamond Project in east-central Saskatchewan.
Kimberlite 150 was selected for delineation drilling and microdiamond sampling in Fall 2003 due to favourable historical diamond recoveries and its size. The new results were combined with historical data from the 150 body in order to make grade forecasts based on stone size distributions. Both the new data and the grade forecasts by Mineral Resource Management (MRM) of De Beers do not support further drilling and sampling work on this kimberlite but efforts on the other prospective bodies will continue under the current, accelerated program. The 2004 - 2005 evaluation and exploration program, budgeted at $7.62 million, represents the largest and most aggressive program to date at Fort a la Corne.
"While the diamond recoveries from Kimberlite 150 were lower than expected, the Joint Venture partners remain committed in their current strategy of focusing on enriched zones in a number of other proximally-located priority kimberlites bodies including 140/141, 148 and 122," stated Robert McCallum, President and CEO of Kensington. "Past results from these bodies have been very encouraging and in the upcoming meetings of the Joint Venture Management Committee, we will be examining ways to accelerate a development decision on the Fort a la Corne Project."
Representative slabbed core samples were collected from 12 HQ coreholes widely spaced across the 150 body. A total of 392 microdiamonds were recovered from 51 samples utilizing caustic dissolution methods on 422 kilograms of core submitted to the Saskatchewan Research Council (SRC). The SRC recovered and reported diamonds down to a lower cutoff of 0.075 millimetres in size; diamonds passing through a 0.075 mm screen were not included in the stone tallies. The SRC reported 98.6% recovery of internal tracers during diamond recovery and stone picking was routinely audited by a supervisor.
Recovered diamonds and selected caustic residues were sent to the De Beers' Kimberley Microdiamond Laboratory (KMDL) for further auditing and verification of individual stone size, shape, and sieve category using proprietary techniques. KMDL reported 238 stones with dimensions equivalent to a +74 micron sieve cut-off and having a combined weight of 0.248 carats including one macrodiamond weighing 0.226 carats recovered in the 2 mm sieve category. The average diamond grade for all samples was 5.7 stones per 10 kg utilizing only stones greater than 74 microns.
Due to geological complexity in the 150 kimberlite body, the results from the 2003 drillholes were divided into three groups corresponding to the three areal lobes of the kimberlite outline (Table One). Diamond results by kimberlite type and sieve category are shown in Table Two.
Table One: 150 Microdiamond Results by Kimberlite Type
---------------------------------------------------------------------
Micro-
diamond
Abundance
greater
Total Stones than 74 Stones
150 Sample Carat greater microns larger
Kimberlite Mass Total Weight than 74 (stones/ than
Area (kg) Stones (octacarats) microns 10 kg) 0.5 mm
---------------------------------------------------------------------
North Lobe 82.7 80 394,500 47 5.7
---------------------------------------------------------------------
West Lobe 239.5 258 24,332,850 161 6.7 1;
0.226 cts.
---------------------------------------------------------------------
South Lobe 99.5 54 183,400 31 3.1
---------------------------------------------------------------------
Total 421.7 392 24,910,750 239 Average
of 5.7
---------------------------------------------------------------------
One octacarat is equivalent to 1x10(-8) carats
Table Two: KMDL 150 Microdiamond Results (greater than 74 microns)
by Sieve Category and Kimberlite Type
---------------------------------------------------------------------
Kimberlite +0.074mm +0.106mm +0.150mm +0.212mm
Type Sieve Sieve Sieve Sieve
---------------------------------------------------------------------
North Lobe 22 18 3 4
---------------------------------------------------------------------
West Lobe 78 49 25 6
---------------------------------------------------------------------
South Lobe 18 9 3 1
---------------------------------------------------------------------
Total 118 76 31 11
---------------------------------------------------------------------
---------------------------------------------------------------------
+0.600 to
Kimberlite +0.300mm +0.425mm +0.850 mm +2 mm
Type Sieve Sieve Sieves Sieve
---------------------------------------------------------------------
North Lobe 0 0 0 0
---------------------------------------------------------------------
West Lobe 2 0 0 1
---------------------------------------------------------------------
South Lobe 0 0 0 0
---------------------------------------------------------------------
Total 2 0 0 1
---------------------------------------------------------------------
In terms of stone size fractions, approximately 49.4% of the stones were recovered on the 0.074 mm sieve and 94.1% of the stones were retained in sieves less than 0.212 mm (Table 2). However, 91% of the total carat weight of diamond from these samples was recovered in a single stone from the west lobe. Viewed in isolation, microdiamond stone counts can be misleading and the estimation of macrodiamond grade from microdiamond results will require an interpretation of the diamond grade-size plots.
The 2003 microdiamond dataset was made available for modeling grade estimates by MRM. From the combined dataset of historical and new results, 352 microdiamonds from the west lobe were available for modeling, of which 46 were re-categorized as less than 74 microns in size, and therefore not used. Due to the prevalence of stones in only four size classes, historical macrodiamond data for 56 stones was utilized to stabilize the grade-size curve. The grade forecast for this lobe is 3 cpht and encompasses an estimated mass of 68 million tonnes of kimberlite based on integration of drillhole information and geophysical data. Currently, confidence limits for the modeled data are not available.
Modeling of the south lobe of the body utilized 129 microdiamonds (23 unused stones were categorized as less than 74 microns in size) grouped into four size categories. Only 15 macrodiamonds were recovered from this lobe in the past and this number of stones was insufficient to include in the modeling. The south lobe was assigned a forecast grade of 3 cpht encompassing a mass of 50.5 million tonnes based on integration of drillhole information and geophysical data. The north lobe was not modeled due to the availability of only 67 microdiamonds and no historical macrodiamonds. The estimated mass for this lobe is 32.1 tonnes.
The reader is cautioned that the grade estimates are conceptual in nature. The grade of kimberlite above a 1.5 mm bottom cutoff is estimated from a combination of micro- and macrodiamond data. Confidence levels for these figures are low and additional testing of macrodiamond content may be required to increase confidence levels in the grade forecasts. The reader also should be aware that insufficient geological control and quantity of sampling has been obtained to permit rigorous application of economic considerations and that there is no certainty that these preliminary assessments will be realized. In short, the figures presented herein are utilized as an exploration tool and their primary value is for comparison of diamondiferous kimberlite targets within the focus of the ongoing evaluation program.
The large gravity anomaly located east of the known 150 body was targeted with an HQ corehole during the last week of September, 2004. No substantial kimberlite interval was intersected, although a three metre thick kimberlitic ash bed was encountered within mudstone of the Lower Colorado Group at a depth of 142.6 metres. The corehole was terminated at a depth of 195 metres. The source of the gravity anomaly remains unknown.
Brent C. Jellicoe, P.Geo. is the Qualified Person for the Company and has reviewed the technical information herein. All aspects of quality assurance, quality control, and sample chain of custody for the Fort a la Corne Joint Venture are managed by De Beers Canada Exploration Inc., the project operator.
Using the expertise of proven management and world-class, experienced technical advisors, Kensington Resources Ltd. is actively involved in confirming the economic potential of this deposit and moving the project forward to a development decision as rapidly as possible. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.25%), De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (5.5%) and UEM Inc. (carried 10%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world.
Robert A. McCallum, President & CEO
I see queen roach and her minions have infested even this board!
They MUST be in severe pain! Wish I could've been on THAT conference call.
Good luck to all and read you tomorrow!
Best Regards, (with the exception of the roaches)
P
I believe NASDAQ owns the OTCBB if I'm not mistaken.
jimmym4 - Here is the definition of the Form 13F via the SEC.
I think this should answer your question:
"Form 13F—Reports Filed by Institutional Investment Managers
Institutional investment managers who exercise investment discretion over $100 million or more in Section 13(f) securities must report their holdings on Form 13F with the SEC.
In general, an institutional investment manager is: (1) an entity that invests in, or buys and sells, securities for its own account; or (2) a person or an entity that exercises investment discretion over the account of any other person or entity. Institutional investment managers can include investment advisers, banks, insurance companies, broker-dealers, pension funds, and corporations. Section 13(f) securities generally include equity securities that trade on an exchange or are quoted on the Nasdaq National Market, some equity options and warrants, shares of closed-end investment companies, and some convertible debt securities. The shares of open-end investment companies (i.e., mutual funds) are not Section 13(f) securities.
Form 13F requires disclosure of the names of institutional investment managers, the names of the securities they manage and the class of securities, the CUSIP number, the number of shares owned, and the total market value of each security."
This would explain why all of all of these big names are included. To your point, it DOES appear that these 3 investment firms do find enough value within CMKX to make it part of their portfolios.
P
Thanks sandgoat. I show the same under "description", but what I find strange is that under "symbol" it appears as "N/A".
I'm not certain if this is standard protocol for issued restricted shares or not?
P
Does anyone know if this is true RE: restricted shares?
I received the following response from Ameritrade today regarding why no price, value, or symbol appears for the UCAD dividend:
"I am showing that the above mentioned security is restricted. We are unaware of the nature of the restriction. For additional information, you may wish to consult with the company directly.
Restricted shares are not registered with the SEC and therefore will not have a value associated with them nor a trading symbol until the restriction has been lifted. "
Is this true? Or is this also part of the cover-up?
Quite possibly a front for unrestricted shares purchased on the open market?
Just curious.......
P
Mach....Seems like there's a lot of worms on the board tonight!
I wonder what rock they crawled out from underneath? Maybe that big chuck of kimberlite sitting in the FALC area with CMKX etched all over it??
And....but of course....it sparkles in the moonlight!
P
Just doing a little O/S calculations.....
I'm wondering if anyone else was more than a bit surpised when the folks on the various boards starting providing their newfound UCAD dividend share counts?
I'm long on CMKX - sink or swim - and we're swimming quite nicely at the moment, but some quick math had me wondering just WHAT the O/S really is?
I would be willingly to bet the good members on Mach's board alone can probably account for 10 billion plus shares.
So what happens when you account for UC's family, CMKXtreme family and friends, Sterling, Ed Dhonau, the Green Baron, Christian Traders, Melvin, etc., etc.?
Just wondering if anyone else was a bit surprised this afternoon, assumming everyone was providing accurate UCAD share counts?
P
kipsson.....nope. I have just the opposite.
My Ameritrade account shows XXX restricted UCAD shares, but no corresponding dollar or margin values.
Interesting......
P
Ameritrade Numbers seem to speak for themselves!
Check-out today's numbers: http://www.ameritradeindex.com/amtd.html
Looks like quite a few buyers (2.17% buying by approx. 54% of clients.)
And nothing on the sell side of the board!
Interesting.....no?
P
Be damn glad. I am.
Keep in-mind that NITE is the largest MM for Ameritrade and it's subs.
I was just filled today at .0002 on an order placed on 9/24 w/ Ameritrade.
Maybe the MM's have been covering NSS (their butts!) for the past 2 weeks and are finally cutting things loose?
P
Mach....I'm a bit surprised!
There's a lot of crap on the board tonight. Although entertaining nonetheless!
Have a great weekend!
P
Thanks again sir!
And I see Zen 'kicked her in the shin' on the other board on everyone here's behalf. Muchos gracias to all!
P
Mach, Thanks for having the time.....
Unfortunately, I can't PM you back since happy hour is over and I'm still on a trial basis. But the individual in question is the one each one of us is ALL too familiar with.
I think you know who I mean....she's about the biggest basher out there and creates more board clutter than ol' Melvie has brain cells. (Well, that might be a toss-up!)
Thanks again,
P
Mach....just a suggestion if you have the time....I know it's Friday and all...
Can we perhaps do something about Lippy, and her apparent cohert jingledoink, from corrupting the board and attacking those who post valid content?
Thanks for anything you can do!
P
Mag, Zen tells it like it is,
and most on this board respect him for it....myself included.
For an individual to actually cut through the BS and get to the REAL heart of the issue is a rarity these days, but thank goodness we have folks out there like Zen!
If you wanted fluff and BS you should've just watched the debate tonight with the illustrious senator from MA. That would've fullfilled anyone's BS quota for the year!
P
Vent Day Contribution
Does anyone have any friggin' idea why I cannot get a simple order for a couple million shares filled at .0002? It's been outstanding since 9/23, and sits with NITE.
Or maybe the MM's are just too busy covering shorts to care about retail orders......hmmmmmm?
P
Could the naked short position be gone?
Just thinking out-loud here....if you examine the SECs final ruling on selling short (http://www.sec.gov/spotlight/shortsales.htm), you will see the effective date was 9/7/04.
I believe the ruling also stipulates that the MM's have 13 days, a "settlement period", to conver any naked short sales.
By my calculations, that would make yesterday, 9/23/04, the last day the MM's could cover their NSS without the SEC knocking on their door.
Think this has anything to do with JEFF's exit?
SEC's Final Ruling On Short Selling - 7/28/04
Just tossing this out there for anyone who hasn't run into it yet.
http://www.sec.gov/spotlight/shortsales.htm
Makes for some interesting reading - particularily the comments from some of the MM's.
P
Actually, I read that filing as soon as it was released....and I agree with you on all counts. That's why the SEC is involved IMO.
Let me know if you learn more?
Best regards,
P