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Check this out video fans! LOL
http://www.singingphenom.com/index.php
Good fit for them, but no hogs?
Board header is looking good Susan :)
Groundstar Resources Ltd. - News published on: 10/6/2006
Mr. Fard also was pleased to announce the appointment of Ahmed S. Said as Manager, International Exploration and Production.
...
Mr. Said holds a Bachelor of Science Degree in Chemical Engineering from the University of Calgary.
Mr. Said has had employment with several exploration and production companies wherein he has been involved in the design, procurement and management of various sweet and sour gas facilities and pipelines in Canada.
Since 2004, Mr. Said has focused exclusively on international operations and entry strategy development into foreign countries. Most recently, he has had responsibility for the business development and implementation of a multi-million dollar exploration program in a highly prolific basin in the Middle East. His responsibilities included the acquisition of field geology, gravity, magnetics and seismic data as well as the successful negotiation and signing of an Exploration and Production Sharing Agreement.
Gartmore Global Focus Taps into Agflation
7 February 2008
Amid the general gloom and doom (in our view somewhat unjustified), farmers are among those that can be said to be enjoying good fortune.
“An era of falling food prices, spanning some 30 years, would appear to have to come to an end. This trend has given rise to the new phrase ‘agflation’ and an awareness that the weekly food shop is now more expensive,” according to Neil Rogan, head of global equities at Gartmore Investment Limited. An expansion in the US ethanol programme to wean the country off its dependence on foreign oil has led to rising grain prices, while demand for cereals to use as animal feed has increased as wealthier Chinese and Indians acquire a taste for meat. In response to this developing trend, Neil has established holdings in US-based Mosaic in the Gartmore Global Focus Fund and Gartmore SICAV Global Focus Fund, both of which he manages. Mosaic is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Fertilisers are applied to improve yield and so help farmers to benefit from rising crop prices.
Among fertilisers, potash has the greatest impact on food quality, and potash prices, which have risen steadily for the past 17 years, are forecast to climb higher, especially in the context of changing dietary habits in emerging economies. In particular, China, which is negotiating contract prices with Mosaic and rival Potash, remains heavily reliant on imports to satisfy its domestic demand. Mosaic enjoys a significant cost advantage given that the company owns the majority of the required phosphate ore, a key ingredient. Additionally, it produces most of its own ammonia and has access to locally produced sulphur, the other key constituents.
The Gartmore Global Focus Fund, which celebrated its seventh anniversary at the end of January, returned 61% since inception on 31 January 2001 to end December 2007, resulting in a top-decile positioning. An Associate Member of the UK Society of Investment Professionals, Neil is rated AAA by Citywire. The Gartmore SICAV Global Focus Fund had its third anniversary in October 2007.
Morocco opens phosphate hub to foreign investors
Thu 7 Feb 2008, 14:26 GMT
RABAT (Reuters) - Morocco's Office Cherifien de Phosphate (OCP), the world's leading phosphate and fertilizer producer and exporter firm, said on Thursday it is opening its phosphate hub to foreign investors.
Inviting non-Moroccan investors to set up plants to help expand fertilizer and chemical industry development marks OCP's first move from a state-owned company into a commercial firm operated under free market rules.
Analysts say the shift would help liberalize further the phosphate industry and lead ultimately to the privatization of the OCP, whose average annual exports of $2 billion account for 15.6 percent of the value of Morocco's total sales abroad.
"Morocco's OCP, the world's leading phosphate player, has now opened to foreign direct investment a world class integrated facility, the Jorf Phosphate Hub located at Jorf-Lasfar," OCP said in a statement.
Jorf Lasfar is located outside Casablanca, Morocco's commercial capital, on the Atlantic coast.
OCP, which plans to invest $2.5 billion over the next five years to boost "Morocco's position as a central platform for the phosphate industry", said the Jord hub has a port site with a capacity to accommodate vessels carrying up to 100,000 tonnes.
An OCP official said would-be investors who set up operations at Jorf hub would benefit from Morocco's tax and real estate benefits the government usually offers as incentives to big investors as well as direct access to phosphate products at relatively lower costs.
"The FDI (Foreign Direct Investment) window is expected to be of special interest to investors from major phosphate buying regions such as the European Union, India, Brazil, USA and Pakistan," OCP said.
OCP, with an annual output of 27.25 million tonnes of raw phosphate, has 43.5 percent of phosphate world's share and 47.2 percent of the world's phosphoric acid share along with 9.5 percent of the global output of fertilizers, according the firm data.
Reading this board its clear that the run hasn't even started yet.
Need to do a sniff test to know that!
at .20 or $1?
Raytec Metals stakes more land in Saskatchewan
2008-02-07 04:04 MT - News Release
Mr. Brian Thurston reports
RAYTEC STAKES ADDITIONAL GROUND, EXPANDING POTASH CLAIMS IN SASKATCHEWAN
Raytec Metals Corp. has staked additional ground, expanding its landholdings adjoining exploration permit application area (EPAA) KP441, located in Saskatchewan.
After preliminary evaluation of information affecting EPAA-KP441, the company concluded that the opportunity for expansion of potential potash discovery warranted increasing its landholdings toward the east. The newly staked area includes EPAA-KP455 which consists of 65,280 acres, EPAA-KP466 which consists of 33,600 acres, and EPAA-KP467 which consists of 11,520 acres. The company now has a total of 198,720 acres of contiguous ground within the extensive Middle Devonian Prairie Evaporite formation of south-central Saskatchewan under exploration permit application.
Saskatchewan Ministry of Energy and Resources data indicates that the lands are underlain by both the Patience Lake and the Belle Plain potash members. Exploratory drilling has been conducted on the newly acquired ground in the past. Results are unknown. This historic information will be reported once the Company has reviewed all pertinent data.
Readers are cautioned that there is no National Instrument 43-101 report on this property, nor are there proven, indicated or inferred resources.
The new EPAA ground was acquired through the vendor of KP441 and therefore will be incorporated under the same agreement as previously announced (see news issued in Stockwatch Jan. 29, 2008), for no additional cost beyond staking expenses.
I am there already Arrow!
An intense pacific disturbance will move across northern Alberta tonight and Wednesday morning. As the system moves through the northern province periods of snow can be expected with amounts anywhere from 2 centimetres across the southern regions to 5 to 10 centimetres across the northern regions. In the wake of the system northwest winds 30 to 40 km/h will develop with drifting and blowing snow resulting. Exposed areas can expect to see reduced visibilities in blowing snow. As well extreme wind chills are a possibility in the northwestern regions tonight as colder air moves into these regions. Environment Canada is monitoring the situation and warnings will be issued if deemed necessary.
A winter storm watch is an alert of the potential development of severe winter weather. Persons in or near these areas should be prepared for developing adverse weather conditions and should listen for updated watches and possible warnings.
Sounds like we left Ed holding the bag
German potash gains from demand for grain, biofuel
Thu Jan 31, 2008 6:09am EST
By Mantik Kusjanto
NEUHOF-ELLERS, Germany, Jan 31 (Reuters) - The huge and nearly empty warehouse that Germany's K+S (SDFG.DE: Quote, Profile, Research) maintains near its mine here shows how the world's fourth-largest potash maker is well placed to weather a global economic downturn.
Demand for the key fertiliser ingredient is so great that supplies, hauled from deep underground, are shipped out before they have to be stored at its 100,000-tonne storage building.
"We are operating near full capacity," said Dieter Friedrich, manager of the Neuhof-Ellers plant, one of six potash mines in Germany owned by K+S, which produces nearly 7 million tonnes a year, 13 percent of global supply.
"Potash is shipped fresh out of production," said the 58-year-old mining engineer who has worked for K+S for 29 years.
Prices in commodities such as wheat, corn and soy are on the rise with fertilisers the likely beneficiaries of strong demand for food and biofuel as grain stocks dwindle.
The up-cycle started in 2004 and has strained producers' capacity, leading to a series of price hikes in potash, the rarest of three key plant nutrients -- nitrogen and phosphates being the others.
At the Neuhof-Ellers plant, K+S is extracting potash from 600 to 700 metres below the Fulda Gap, in the heart of Germany.
Canada, Russia, Belarus and Germany control more than three-quarters of the globe's potash reserves.
Like rivals Potash Corp of Saskatchewan (POT.TO: Quote, Profile, Research) and Russia's Uralkali URKA.RTS and Belaruskali, K+S is rushing to capture the global frenzy for potash. Analysts say producers still have sufficient pricing power with potash supply so tight.
Potash, including magnesium, forms more than 40 percent of group sales and less than 60 percent of operating profit.
K+S, which counts among top shareholders chemicals group BASF (BASF.DE: Quote, Profile, Research) and Russian tycoon Andrej Melnichenko, is the world's second-largest salt producer after China National Salt.
POTASH PRICES
K+S is charging record prices of 320 euros ($475.8) per tonne for granular grade potash, up 30 euros from November.
"The industry seems to have only one direction now: up," said Stephan Thomas, fund manager at Frankfurt Trust. "The only thing is ... valuation is a bit high. That restrains us from increasing ... exposure. That's the price for a growth story."
K+S shares trade at 18 times this year's estimated earnings, compared with the pan-European DJ chemicals sector's average of 14 times, according to Reuters data. Potash Corp, the world's top potash player, and Uralkali both trade at 20 times.
While broader markets are reeling from U.S. recession fears -- the chemicals sector fell 12 percent this month -- K+S rose 5 percent. The stock was down 0.2 percent at 166.4 euros at 0815 GMT on Thursday.
K+S is worth about 7 billion euros, up from 800 million in 2002 thanks to rising agricultural prices.
Shrugging off market fears, Patrick Heffer, executive secretary of the International Fertiliser Industry Association, told Reuters the impact of a U.S. recession is "very limited".
"In view of the current tight cereal and oilseed market conditions at the global level, there will be a need to further increase fertiliser use. In that context, even a worldwide recession would have a limited impact," Heffer said.
Dresdner Kleinwort analysts Saul Rans and Georg Remshagen were also upbeat, keeping a buy rating for K+S with 200 euros as their price target, up from 143 euros.
"We believe that the market is already in deficit by 1 million tonnes and we foresee at most 4 to 5 percent brownfield capacity expansion in 2008 to 2009," they said in a report.
Betting on prolonged strong prices, some investors have ignored the impact of the falling dollar to earnings, which had forced the company to issue three profit warnings last year.
New Upper Jaw Grown from Patient's Own Stem Cells
By Hilary White
HELSINKI, Finland, February 4, 2008 (LifeSiteNews.com) - Dramatic results continue to be achieved by scientists using stem cells taken from adult patients. On Friday, Reuters reported that scientists in Helsinki, Finland, had replaced the upper jaw of a 65 year-old man, with a bone graft that had been grown from his own cells.
Dr. Riitta Suuronen, head of the Regea Institute of Regenerative Medicine, and a specialist in oral and maxillofacial surgery, told a news conference, "From the outside nobody would be able to tell he has been through such a procedure." The Institute, associated with Tampere University, is a leader in the field of tissue engineering and started its tissue bank in 2005.
http://www.lifesite.net/ldn/printerfriendly.html
The patient, who is not named, suffered the loss of his upper jaw after tumours had been removed.
The stem cells came from the man's fatty tissue and were cultivated for two weeks. From the cells that developed, the scientists selected a set of cells called mesenchymal stem cells - those that give rise to bone tissue. These were placed in a scaffold created from a biomaterial that mimics the body's natural bone-growth process.
The structure was then placed inside the patient's abdomen and allowed to grow for nine months. Screws and microsurgery were used to implant the structure in the man's head and connect blood vessels to arteries in his neck.
"There have been a couple of similar-sounding procedures before, but these didn't use the patient's own stem cells that were first cultured and expanded in laboratory and differentiated into bone tissue," said Dr. Suuronen
The Regea Institute uses both patient-derived stem cells and those taken from "voluntarily donated embryos, unsuitable for artificial insemination or otherwise defective". Regea Tissue Bank stores and delivers human tissue for clinical purposes to hospitals in Finland according to guidelines set out by the European Union.
The field of tissue engineering and regenerative medicine is among the most exciting today and it is largely driven by breakthroughs using non-embryonic sources. In a procedure similar to that of the Regea Institute, in 2004 a German man received a new lower jaw that had been grown in his back, using a combination of his own bone tissues and a titanium scaffold.
Imported food & fertiliser to cost India $5 billion this year
5 Feb, 2008, 0516 hrs IST,Nidhi Nath Srinivas, TNN
NEW DELHI: India may spend $5 billion shopping overseas for food and fertiliser this year as the 20% rise in global food prices takes its toll.
The bill for importing basic food items is likely to be 50% higher than last year while the expenditure on foreign-made fertilisers may be up 65%.
According to RBI, in the first five months of the fiscal (April-August 2007), the country has already spent $3.55 billion on imported food and fertiliser. This is almost equal to the country’s iron and steel imports during the same period.
Till August 2007, India has spent $1.75 billion importing bulk staples such as grains, pulses, cooking oil and sugar. It has spent another $1.79 billion on imported fertiliser. The most expensive items on the country’s shopping list were cooking oils and manufactured fertiliser. The country’s bill for cooking oils is up 40% while expense on manufactured fertilisers such as urea and DAP is up 70%. Globally, fertiliser prices surged 66% in 2007.
For import-dependent countries such as India, 2007 was a tough year on the wallet. For the average Indian consumer, things are getting worse. According to the latest government figures, compared to January 2007, rice prices are now up 13%, wheat 8%, atta 8%, tur dal 22%, mustard oil 20%, groundnut oil 28%, vanaspati 20%, milk 11% and potato 33%.
That is no surprise given the country’s increasing dependence on imported food. “International prices of wheat, soya bean, soya bean oil and palm oil increased 80%, 73%, 66% and 62% respectively, year-on-year, in December 2007. Consequently, the IMF food price index increased 26.4% on a year-on-year basis and surpassed the level that was last seen in the late 1980.
The supply-side pressures on global food prices do not appear to be abating, especially in the case of wheat and oilseeds/edible oils,” RBI has stated. Edible oils and oil cakes along with oilseeds accounted for more than one-fourth of the country’s headline inflation on January 5, 2008.
According to the World Bank, in December alone, wheat prices surged 14.5% on expectations that global stocks will fall to record lows due to drought that has damaged production in several major exporting countries, and to strong import demand.
Similarly, phosphate fertiliser prices continued to increase, with DAP up 14% due to strong demand and a 70% increase in the cost of phosphate rock, the dominant raw material for the production of phosphate fertilisers.
Slow-growing supply, low stocks and supply shocks at a time of surging demand for feed, food and fuel have led to drastic price increases, and the high prices do not appear likely to fall soon. There are about four times more net cereal-importing countries in the world than net exporters. Even though China is the largest producer of cereals, it is a net importer of cereals due to strong domestic consumption.
Rentech’s Forgotten Fertilizer
posted on: February 04, 2008 | about stocks: RTK
Investing in companies that can help the United States turn its vast coal resources into clean burning fuels may be a great way to put a portion of the funds you have allocated for speculation to work. The ability to produce synfuel from coal has been proven successful and is a well established business in South Africa. Sasol (NYSE: SSL) is a company that has a track record of successful coal to liquid conversion and has the potential to expand the use of their technology in oil starved economies such as China.
Investing in Coal to liquid in the US requires the purchase of shares of companies with very little or no earnings, product demonstration units that may or may not pan out, and management with little track record of making coal to liquid profitable. Companies like Headwaters (NYSE: HW), Syntroleum Corp (NASDAQ: SYNM), and Rentech (AMEX: RTK) all fall into this category.
Even though the production of fuel from coal holds the most promise, investors should not overlook the other possibilities that come from coal to liquid technology. Rentech owns a nitrogen fertilizer plant in East Dubuque Illinois that currently uses natural gas, the industry standard and most common feedstock used to produce nitrogen fertilizer. Rentech is evaluating the economic and public policy factors determining the feasibility of converting the feedstock from natural gas to coal.
In the meantime they will continue to manufacture and sell nitrogen into a booming Midwest fertilizer market. The capacity of the East Dubuque plant is listed at 830 tons of anhydrous ammonia per day; currently ammonia is wholesaling in the Eastern Cornbelt for $650 per ton. Yearly production of 302,950 tons would calculate into $197 million dollars of gross sales potential. Rentech currently has a market capitalization of $222 million dollars, just 12% higher than the annual gross sales potential of their one fertilizer plant.
It looks like the market has totally forgotten about Rentech’s opportunities in fertilizer. Alternative energy is a speculative play, but Rentech offers a great opportunity to buy a company that the market sees as a pure play on coal to liquid, while the existing fertilizer business provides you with downside risk protection.
Disclosure: Author has a long position in RTK
This is good news, a hint that they will be moving forward soon.
Uralkali's Belarus potash jv to raise China prices by at least 100 usd/tonne
02.01.08, 5:17 AM ET
MINSK (Thomson Financial) - JSC Uralkali's Belarusian Potassium Co (BPC) joint venture wants to raise fertiliser prices for China's buyers by at least 100 usd per tonne this year, BPC deputy general director Oleg Petrov said, Interfax reported.
'We want to get a substantial increase in price on shipments to China - at least 100 usd per tonne,' Petrov said at a press conference.
He added that negotiations were still ongoing.
'The longer negotiations will be dragged out, the higher the chance that China will see a drop in the volume of supplies and a price increase,' the executive said.
Analysts told the Russian news agency they believe Chinese buyers paid 200 usd per tonne for BPC's potash fertiliser last year, indicating that this year's price will rise by more than 50 pct.
Record global grain prices are pushing up demand for potash, and Petrov forecast that there will be a shortfall of about 1 mln tonnes on world markets this year.
Increased production will allow supply and demand to come close to equilibrium in 2010, though Petrov said he expected smaller shortages to persist up to 2012.
The world potash market currently totals 55 mln tonnes, with demand increasing by 2 mln tonnes per year.
BPC is a 50/50 joint venture between Uralkali and Belaruskali.
According to Uralkali's website, BPC is the world's largest potash fertiliser trading company, with a 34 pct market share.
Now if only those people selling bank stocks would just spend it on KCL we could really lift off!
Let me know when people start burning thier furniture to stay warm then I will bring in a load.
Burning furniture: future urban energy source - by Jan Lundberg
When people start burning wood from unoccupied houses after the post-peak oil die-off, some of the "wood" will be particle board and plywood which are laced with formaldehyde. Plastics will also be burned, as they already are today in incinerator/waste-energy "plants." So, there will be some energy to use, but it will be limited (as all energy sources are for huge populations) -- and toxic. Are we simply faced with a choice: will we die of cancer or of deprivation such as starvation and exposure to cold?
People do not want to face what is happening, as they don't want to change their lives -- even if for the better, if they only knew. Yet, the window of opportunity to segue into a less regimented and more freedom-filled lifestyle, through localized sustainable economies, is shrinking fast.
Another shocker has come, as the heat wave in Seattle, after a dry winter, has people from all walks of life worried about the future's climate. One of these days the shocker will stick, and an earthquake of social action will ensue. Until then, it makes one want to get radical and wake people up somehow.
What can bring on the sudden cascade (pardon the expression, Seattleites) of collapse of the global corporate economy and consumer society? One possibility is the stock market, as if it is a traitor to its own cause:
As exploration yields no more gigantic oil fields as in the days of yore, and oil companies rapidly deplete crude-reserve assets in the ground, numbers can no longer be inflated and the corporate stock is devalued. Shell was recently caught with inflated reserves, and the multimillion-dollar fines and devaluing were a crusher to its corporate worth. If and when this happens with more companies and countries, it could cause the whole stock market to crash, bringing down the global financial economy. Keep in mind that almost all the top corporations in the world, by size and profits, are oil companies or car companies (that run their death machines on oil).
For now, people are fairly well behaved and patient. Then comes the unprecedented upheaval and strife. History will see the biggest bloodbath ever, as the swollen petroleum-fed population is caught without energy, food and water -- not to mention consumers' endless array of fun gadgets that offer a bit of happiness. These substitutes for having a nature-based life are killing us with plastic-chemical migrations into our skin and lungs, but freedom today means the right to shop -- and the U.S. will keep killing for that right (mainly, the "right" that corporations have to profit) as long as oil will power the policy.
The "developed" world awaits socioeconomic transformation not in any textbooks, although our anthropocentric density should give us a clue. What an historic time this is to witness the extreme swing of the pendulum from high entropy to rebalancing of natural systems (distorted though they have been by industry and overpopulation).
One doesn't want to see extraordinary incidence of death, but one may as well face the reality of the consequences of inflating humanity's numbers, through the virtual disappearance of ample petroleum. Further, one may as well start preparing for the post-petroleum world by restructuring our social relations and our relationship with nature and our urban surroundings. (As we consider later in this essay, homeless street-people are better prepared than most of us.) Finally, we may as well revel in the upcoming rebirth of sustainable culture.
Or, you can assume the soon-to-be Late Great State of California will just absorb another Ohio-sized population increase to reach 48 million by 2025. Even "green" "activists" speak of "Smart Growth." Hello; it was decades ago that growth outstripped the ecosystem's capacity to sustain us. [demographics statistics source: Associate Press coverage of Public Policy Institute study, June 2, 2005] But who can blame the proponents of Smart Growth; they need to pay their bills and buy costly organic food.
One thing that can curtail growth of the population is the effects of petrochemicals, i.e., plastics and pesticides. Sperm counts are way down, and sexual development of males is more and more deformed in terms of smaller penises and shrinking distance between penis and anus ("genital-ano"). Perhaps Arnold Schwartzenegger, past user of steroids which shrivels genitals, can relate to the problem the coming generation of boys will have with their smaller members. But, will they all be able to flex their psychological penile muscles by having Hummer vehicles, like the Governator does? Nein. From Californians Against the Plastic Plague, summarized in its June 1, 2005 online Update:
"Scientists link plastic food containers with breast cancer:
"A chemical widely used in food packaging may be a contributing factor to women developing breast cancer, scientists have suggested. The study links the compound to the development of hormone sensitive tissue in mice and has prompted environmental campaigners to call for far tighter regulation of such chemicals...
"Study Links Plastics to Small Genitals and breast development:
"New York - A manmade ingredient of many plastics, cosmetics and other consumer products may be interfering with prenatal male sexual development, new research suggests. A study of 85 infant boys found a correlation between increased exposure to some forms of the chemical phthalate and smaller penis size and incomplete testicular descent... Researchers have reported for the first time that they have found a highly significant link between human exposure to chemicals used in consumer products and adverse changes in the genitals of baby boys..."
From a new study on pesticides' effects:
"What was surprising was that these traits (lowered sperm counts and reduced ability of sperm to swim) were also seen in 90 per cent of the male offspring born to three more subsequent generations yet the scientists found no obvious mutations in the DNA of the animals... 'We are mostly describing a new phenomenon... The hazards of environmental toxins are much more pronounced than we realised,' said Dr. Michael Skinner, head of the research team at Washington State University" [source: Truthout.org/The Independent - UK]
Ecosystems to restore, truth as a
After the slaughter of the American bison population, as part of the genocide of native American peoples, there remains hardly any of the original prairie ecosystem. A small remnant exists in downtown Chicago as a living museum. (I used to go up the adjacent building to sell Amoco Oil my market research reports.) Will the buffalo come back where the monocrop/GMO farms now sponge off the Earth, and will cities remove some pavement so that people can live off the landscape as they always used to?
That is only one expression of today's dilemma on survival, as the doo-doo hits the fan of modern society's culture of waste. Paradoxically, none of this kind of concern has anything to do with one's paramount need to obtain food today, whether as a slave of employment or as an affluent consumer.
A new "industry" must grow out of the embryonic activity I sometimes call the "truth business." This is a line of work that includes, I believe, this series of Culture Change Letters and countless other sources of real information such as Street Spirit (tabloid of Oakland, California). Almost by definition, being paid for pursuing truth is a hopeless and automatic contradiction, a paradox, and an oxymoron. Whether one is attempting to spread information and wisdom about sustainable living that flies in the face of dominant economics -- via publishing or simply acting out one's daily nonpolluting and nonparticipation in social injustice -- being compensated with cash presents unresolveable problems. For example, what is to be done with money: use fossil-fueled transportation and utilize manufactured goods that should not even be made? Easily enough, truth seekers aren't ever presented with such problems of riches.
Such a question is for the intelligentsia for the most part. Another question for the intelligentsia and hopefully across class lines, is "There will HAVE to be a way for people to start taking action -- does someone have to come up with something original and attractive?" Our world is being destroyed, and we wink and nod at the deadly game and tell ourselves there is always hope tomorrow, although with less and less certainty.
Urban society post-collapse
To reconcile this conundrum, a truthful minority of today's population could acknowledge the challenge and decide to actively support totally new thinking. Is it the educated people in decent health? Although that may be generally true, it is street people, however, who already have a leg up: knowing how to get by in the harsh environment of the city we should call "the privatized fortress." Instead of being feared and vilified, street people should be looked upon as skilled in things that are about to matter a lot. For street people will have the calm and know-how to obtain food and dodge threatening people -- as they do now.
A national discussion needs to take place on the issue of petroleum dependence and how vastly and rapidly changes will come about. I told Congressman Bartlett (see Culture Change Letter #96) about "citizen petroleum councils" and how they would work to identify problems and solutions.
As time is lost every day that goes by without many people's taking some moments to discuss depaving and non-car transportation, to name two vital characteristics of sustainability, we are trading in our wealth and peace today, such as they are, for a cataclysmic wiping clear of the slate.
The truth of this is scant nourishment, whether we be well-fed intelligentsia or street people. For those in the truth business and those anticipating complete petroleum-induced collapse, the same rule applies: knowledge alone will not feed the belly or the soul or a person or a population. Speaking of nourishment, when urban survivors are cooking over furniture fires, one shouldn't use varnished or painted or treated (pesticide injected) woods -- the taste is second rate, and sperm count and swim-ability may be of greater concern in future than in the much populated present.
In that epoch ahead, after our fiddling is finished and our Rome burned, and we may be roasting rodents over furniture fires, Iraqis and other peoples might not be so inclined toward revenge when they think of how the mighty U.S. fell, and, besides, getting to this continent with sailboats -- once the oil is mostly unavailable -- will not be so easy as today.
http://www.culturechange.org/e-letter-burningfurniture.html
I did stop, too much snow in them now. So essentially I am stockpiling biomass for a future co-gen plant.
Now I need to find a shell to RTO and take this scheme to da moon!
Tackler Asset Management plans RTO
2008-02-02 08:09 MT - News Release
Mr. Tack Leroni reports
TACKLER ASSET MANAGEMENT TO GO PUBLIC WITH RTO
Tackler Asset Management (TAM) and an undisclosed shell company listed on the TSX-V have signed a letter of intent dated Jan. 21, 2008,
whereby the companies have agreed to merge to create Alberta's next mid-tier biomass energy producer...
We seek Safe Harbor.
Investors Exchange only is free till Feb 22nd http://www.pdac.ca/pdac/conv/2008/registration.html
anyway a daypass is only $75 thanks for the heads up
I thought it was silver you were pumping?
Lets go to Toronto March 4, I will document you venting on the management.
Baltic, Phoscan sign formal merger agreement
2008-02-01 14:26 MT - News Release
Mr. Donald McKinnon reports
BALTIC RESOURCES AND PHOSCAN CHEMICAL FINALIZE ARRANGEMENT AGREEMENT; SHAREHOLDER MEETINGS SCHEDULED FOR MARCH 4, 2008
Baltic Resources Inc. has entered a definitive arrangement agreement with Phoscan Chemical Corp. providing for a plan of arrangement to implement the merger originally reported in Stockwatch news dated Oct. 29, 2007, and has obtained an interim order from the Court of Queen's Bench of Alberta in respect of the arrangement. Pursuant to the arrangement, Baltic and Phoscan will combine their interest in the Martison phosphate project, in which they each currently hold an equal joint venture interest.
Pursuant to the arrangement, Baltic will also transfer to its newly formed subsidiary, Canadian Orebodies Inc., all of Baltic's assets other than Baltic's interest in the Martison phosphate project and 90 per cent of the proceeds of warrants and options exercised since Oct. 29, 2007, and Orebodies will assume all of Baltic's liabilities, other than certain advances made by Phoscan on Baltic's behalf in respect of the Martison phosphate project. Baltic will then amalgamate with Phoscan's wholly owned subsidiary, 1366825 Alberta Ltd. The TSX Venture Exchange has granted conditional approval of the listing of Orebodies shares on the TSX-V. Final approval of the listing is subject to the completion of the arrangement and all of the requirements of the TSX-V.
Under the arrangement, Baltic shareholders will receive in exchange for each common share of Baltic 1.4 common shares of Phoscan and one common share of Orebodies. Based on the currently outstanding shares, a total of approximately 51,843,259 common shares of Phoscan will be issued in exchange for Baltic shares, such that former Baltic shareholders will hold approximately 37.2 per cent of the then issued and outstanding common shares of Phoscan. Upon completion of the arrangement, three representatives of Baltic, being Donald McKinnon, Chris Hodgson and Gordon McKinnon, will become directors of Phoscan.
Each of Baltic and Phoscan will hold meetings of shareholders on Tuesday, March 4, 2008, to consider the arrangement and certain related matters. Completion of the arrangement is conditional upon, among other things, the approval of a majority of votes cast by Phoscan shareholders and at least two-thirds of the votes cast by Baltic shareholders, as well as final court approval. The boards of directors of each of Phoscan and Baltic have approved the arrangement and have unanimously recommended that shareholders vote in favour of approval of the arrangement.
Mr. McKinnon, president and chief executive officer of Baltic, commented: "We believe the merger between Baltic and Phoscan to consolidate interests in the Martison project is an instrumental step that will accelerate the project and provide excellent value for our shareholders. Also, it will allow Canadian Orebodies to focus on its non-phosphate projects and we look forward to an exciting year with the new company."
I suppose calling in sick is not an option?
I have a bar of it to show you next time you come over if you bring beer.
That did the trick alright, only -31c now :)
Last pp was .55 and warrants are .85 so money to be made yet on RAY paper.
I am sure most cheap shares from 2006 got dumped a year ago.
Decent volume yesterday maybe absorbed all the bottom fishers from last couple weeks.
I say $1 this year on ag boom if these guys are as slimey as you and tbv say.
Joseph Abrams has acted as a financial consultant to a number of companies throughout his career. In 1998, he co-founded eUniverse, Inc., a publicly traded Internet entertainment portal, later renamed Intermix Media Inc. Intermix was majority owner of MySpace.com,and was sold to News Corp. for $580mm in 2005. In 1983, Joe co-founded The Software Toolworks, Inc., a publicly held developer, publisher, and distributor of educational and entertainment software. He served in various capacities, including President. Software Toolworks was sold to Pearson, Plc. in 1994 for $462mm.
http://www.empireinteractive.co.uk/corporate/Management.asp
FORM 8-K ITEM 8.01 OTHER EVENTS
On January 14, 2008, the registrant appointed Joseph W. Abrams as a member of and chairman of its newly created IndieMV Media Group Advisory Board. Mr. Abrams will serve for an indefinite term and is entitled to compensation at the one year anniversary of his appointment in the form of options to purchase common stock of the registrant, with the number of such options and terms thereof at the discretion of the board of directors of the registrant.
Mr. Abrams is an entrepreneur and mergers and acquisitions specialist who focuses on working with small technology companies to build shareholder value in the public markets. He has led or advised in merger and acquisition transactions in excess of $1 billion and small cap market equity raises in excess of $200 million. Mr. Abrams has a BA in economics from SUNY Buffalo and an MBA from the University of Rochester.
Ya early this morning the patio door was snapping as the temperature dropped
-31c here now and calling for -38c for next couple nights
good question, a story on BBC today that that bank in France may have exasterbated the selling last Monday while correcting for that rouge traders deficit
Maybe OPEC will give a buying op
On January 24th /08 CIBC World Markets analyst Barry Cooper initiated coverage on Aurelian Resources.
Company Profile
Aurelian Resources Inc. (TSX: ARU) focused on their wholly-owned Condor Project, consisting of approximately 95,000 hectares in south-eastern Ecuador. Fruta del Norte (FDN), their flagship epithermal gold-silver deposit, was discovered in April 2006 and has a NI 43-101 compliant initial inferred resource of 13.7 million ounces of gold (58.9 million tonnes grading 7.23 g/t gold.
Event
In a note entitled “Scarcity Has A Price And It’s Higher Than Here” Cooper explains the reasons behind his Sector Outperform – Speculative rating and $20.00 target.
Takeaways From The Event
Cooper’s investment thesis is as follows “Aurelian holds the rights to a very large
profitable gold deposit in an era where there are few similarities. We think that there will be the potential for multiple bidders for the company as gold producers have outgrown Mother Nature's supply capabilities.”
Cooper believes that one of the main characteristics of the Fruta Del Norte (FDN) deposit is its high grades. He estimates that 35% of the ounces grade more than one-half ounce per ton. With initial underground costs for the operations in its first years estimated to be less than $150/oz, discounted cash flow analysis (11%if considering only an underground operation) or 13% for a more valuable underground/open pit combination) indicate that the company trades at 1x NPV using $800/oz gold (valuation includes royalties of 4%).
With Ecuador currently in the midst of assessing new mining laws which will be incorporated into constitutional reform, mining laws are scheduled to be determined before mid year thereby removing much of the political uncertainty (regarding royalties and profit sharing between Aurelian and the Ecuador government) overhanging the stock.
Cooper expects that initial mining at FDN is going to be based on a method known as long hole mining, which is similar to the extraction method used at the Hemlo camp in Canada. He estimates a mining rate of approximately 4,000 tonnes/day initially rising to 12,000 tonnes/day if the operation remains an underground mine.
Since there is no commercial power supply in the surrounding area of FDN, Aurelian has proposed using a nearby river to support power generation. This could possibly keep electricity costs “well below world averages and more importantly build goodwill if extra capacity were made available to local users.”
Cooper estimates $500 million in capital expenditures to build the mine.
Lastly, Cooper writes “with average production growth of major gold producers rising about 70% in the period 1996-02 versus flat to declining since then, the need for more deposits has never been more critical. [He] think[s] that Newmont’s announcement of its inability to replace reserves in 2007 is an omen of things to come for the industry. Companies have exceeded the production capacity that can be provided by both Mother Nature and social obstacles that exist in today’s environment.” With that as a backdrop, he believes the odds are high for Aurelian to be acquired. Furthermore, “Regardless of the probability of unfavorable political events, [Cooper is] convinced the market will apply some discount to Ecuadorian assets. Evidence of the discount is in the current Aurelian share price. But quantifying the right discount is difficult and [he] also knows that political discounts will ebb and flow with general market sentiment. What [he is] more convinced of is that the longer the bull market for gold continues, the more the discount will shrink due to the scarcity factor of the deposit.”
Upcoming Catalysts
1. Drill results will continue to be released and Cooper expects a combination of in-fill information and newly found ounces should corroborate the prior high-grade data.
2. Resolution of mining law is scheduled to be addressed by mid-year which should remove much of the uncertainty about economic participation by Aurelian and the government.
3. A resource update incorporating new drill data is expected to be released in the first half of the year. It is possible that some of the mineralization will move up a category in certainty and there could also be additions to the total ounces contained in the deposit.
4. Scoping studies on the deposit are being worked on with completion later in the year. Cooper thinks he has built in reasonably conservative estimates for mine construction in the present environment of rising costs.
5. He also thinks that clarity is likely to breed corporate interest in Aurelian and suspects that a bid for the shares will come within the 12-18 month investment timeframe.
Valuation and Price Target
On an Enterprise value (EV) per ounce in the ground basis (which is one of the most common valuations methods utilized for early stage development projects but also ignores capital costs, operating costs and recovery costs from ounces in nature to ounces for sale), Aurelian’s “shares sit near the median of simplistic EV/ounce calculations although at almost 50% below the average. When additional economic parameters are considered however, (as ounces are not created equally) [Cooper] believe[s] that FDN is not deserving of a discount that is this high.”
On a Total Acquisition Cost (TAC) basis, Cooper’s evaluation implies “that a takeover bid could be supported by paying a price of $184/oz. for the recovered resources at Aurelian with no value for upside.” This would equate to $17.83/share but the difficulty with this approach is that “for every $50/oz. move in the gold price there is an implied change in the ARU share price of $3.” The suitability of the TAC method lies in its ability to account for recoveries, capex and operating costs and then interweaving
the enterprise value to give a more comparable number on a per ounce basis.
On a discounted (10%) cash flow basis, “Aurelian is trading at a P/NAV of 0.7x compared to peers trading at 0.8x using the lower discount rate (of 5%).”
Cooper has envisaged a number of different valuations methods for Aurelian and he believes that “in the absence of political discounts [he] see[s] the share price being supported at prices above $15/sh.”
Investment Risks
Without limitation, some of the risks associated with Aurelian include, Cooper’s assumption for the gold price to average $1,000/oz in 2009, the expectation that Aurelian is acquired in the next 12-18 months, reserve and resource risks, development risk, country risk (including changes in mining law and government regulations) and economic risk, etc.
Here is a brief list, in alphabetical order, of genuinely precious metals, which are used up in manufacturing small electronic devices. Note that only selenium and tellurium production approach 100 tonnes per year; the rest top out at 50 tonnes. The total global production of the six metals listed below is around one-eighth of the total production of gold annually:
*
Gallium, a by-product of aluminium mining
*
Germanium, a by-product of zinc mining
*
Indium, a by-product of zinc mining
*
Ruthenium, a by-product of platinum mining
*
Selenium, a by-product of copper, and to a lesser extent of gold and platinum, mining
*
Tellurium, a by-product of copper, and to a lesser extent of gold and platinum, mining
The Year of the Rat: How to Invest
by Prieur du Plessis
The Chinese calendar proclaims this as the Year of the Rat. Based on the behavior of economies and financial markets over the past few months, investors would be forgiven for thinking that a plague has descended upon the financial system. But on occasion it is useful to step back from the day-to-day shenanigans of markets and take a bird's-eye view of events.
When it comes to evaluating how well people "read" the macro picture of financial markets, it is important always to distinguish between skill and luck. And it is really only with the passing of time, or evolvement of a number of market cycles, that one can separate the wheat from the chaff.
Donald Coxe, Global Portfolio Strategist of BMO Financial Group, is one of a select group of analysts that have been remarkably right on the "big picture" outlook for many years. My market views essentially concur with Donald's investment recommendations as published in the January edition of Basic Points, entitled "The Year of the Rats". I have therefore deemed it opportune to share his words of wisdom with you in the paragraphs below.
1.
The financial crisis is not centered in stock markets. Its primary locus is in financial derivatives, and in their impact on the stock prices of leading banks. Until the downward drift of bank stocks and the upward drift of derivative debt yields are reversed, the stock market will continue to slide. Keep overall equity exposure to minimums, and emphasize quality.
2.
Bond investors face two risks: inflation and credit. Nominal Treasury bond yields are far too low, and quality corporates are too rare ? with 71% of corporate debt junk-rated. Buy inflation-hedged sovereign bonds ? preferably in major foreign currencies. Simplicity is good: avoid complex products that are subject to drastic rating writedowns.
3.
Commodity stocks are at risk to the extent that the financial frauds and foolishness are able to abort the global economic recovery. A US recession would be good news only for gold stocks. It would be bad news for base metal and steel stocks, and negative news for oil stocks. Agricultural stocks should not be hurt, except that major bear raids will likely spew blood broadly across stock markets.
4.
Any panic-driven selloffs in commodity stocks are unlikely to take them off the top-performers lists for more than a few weeks. They are not just fair-weather friends. Not only are most of the majors very cheap on a forward-earnings basis, but mining and oil companies that ordinarily search for resources in remote regions will take advantage of selloffs to acquire reserves in politically safe regions at bargain cost. Coming out the other side of this slowdown, these stocks will experience big increases in their absolute and relative PEs. Someday a big Sovereign Wealth Fund is going to decide that bailing out banks isn't as profitable as owning matchless reserves of minerals.
5.
Food price inflation should strengthen through the year. It could be offset by broad price declines across the US economy as it struggles with recession, but it is becoming embedded in the global economy and will be a challenge for many years. It will produce a full-blown crisis when a major crop failure occurs.
6.
The Canadian dollar trades right around parity. It might not climb sharply higher if a US recession is confirmed, because of the impact on the industrial sector and tourism. It remains a fundamentally strong currency, and the greenback remains a fundamentally weak currency. Canadian borrowers should borrow in greenbacks.
7.
Gold's move has been dramatic, but retail investors in North America and Europe have not yet shown signs of true gold fever. That means there is still substantial upside. Soaring silver and platinum prices confirm that this gold move is no mere spastic twitch. The expression "as good as gold" in reference to Treasuries and other US debt instruments should be restricted to use as a warm-up joke at investment policy meetings.
8.
Defence stocks have solidly outperformed the S&P for most of the Bush presidency. Iraq and Afghanistan have run down a wide range of Pentagon inventories and a new generation of fighter jets cannot be postponed much longer. No matter who wins the presidency, these companies should continue to prosper.
9.
Sovereign Wealth Funds have been buying US banks. Wall Street cites these purchases as evidence of great value in bank stocks. For nations that are overweight Treasuries in their holdings and underweight influence in American politics, swapping Treasuries for bank equities and convertibles makes sense. That does not necessarily mean that the stocks are great value for investors who cannot get other ? unspecified ? returns on their investments.
10.
Use panic days to strengthen your equity portfolio, buying the agricultural, gold and oil stocks you will want to own after the bear retreats to his cave and selling stocks that are too dependent on US consumers. Retain your quality base-metal stocks: they may well be taken out by other mining companies, or a Sovereign Wealth Fund.
11.
The US small-cap bear market may be overshooting because investors haven't analyzed the likely improved competitive positions of companies whose principal competitors were bought by Private Equity or are Canadian or European companies hurt by the weakening dollar.
12.
Be like all wise cottage owners: Protect your possessions from Rats.