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well oil was under 70 bucks for about a year last time we had a crisis. Who knows how long this time will last when we get there. The Saudi's have to sell oil too even when it is under 70 bucks.
JFF7
Looks like the POG is going to retest the recent low sub 1600. PTQ's share price is not going anywhere significantly up until POG bounces.
JMO, JFF7
PBN / PBG
Yes PBN is dragging down PBG to new low levels. They can's separate the two of these stocks soon enough. Spin out the PBN shares and let PBG trade on it's own.
JFF7
nobody is going very hard in these market today.
JFF7
Denver Gold show presentations -- day 2
http://www.denvergold.org/gold-forums/dgf-2011/dgf11-webcast/dgf11-webcast-day2.html
JFF7
what the heck? under a buck. Never thought I would see that again.
JFF7
Unfortunately, that is how the base metal commodity stocks look all the way down as the economy slows down. I would not touch base metals until their seasonality arrives and the European banking issue works out some sort of solution.
JFF7
BOY ?
Is this a legit company or one of the problem chinese stocks?
JFF7
PTQ up nicely today
Congrats to the long term holders. It's about time.
Technically this looks like it has further to run as well.
JFF7
I think you need access to the order book not just level 2 access.
JFF7
11:29 AM EST - Petaquilla Minerals Ltd. (PTQ): Petaquilla Minerals Ltd. purchased 50,000 shares at 76 cents on 09-08-11 -- bringing his total stake to 379,200 shares
JFF7
Your late. the move started weeks ago.
still trading the volatility though . More reason to hold now though.
Good luck to all PTQ holders. PTQ one of many that should double in next few months.
JFF7
I think the market sentiment towards risk has more to do with PTQ's (and other juniors) valuation at this point than anything. Until the market is willing to accept more risk, they will not go looking for companies like PTQ.
In the meantime, the company can get incremental gains to the share price by internal improvements to the bottomline etc. The company will look real good when the markets come looking. That time is getting closer for gold stocks as the large and mid-caps have seen some increases lately but it is not clear yet that the market is ready.
JFF7
MMT.TO SEDAR Filings out
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00004127
JFF7
OT : place to stay in Panama?
Hey guys, any Panamanians have a place to recommend in Panama on the Caribbean side? I have a friend that wants to go down for a month. He is looking to pay about 1000 a month for a one bedroom.
JFF7
MMT.v
Maybe Wade wanted someone to write his monthly report to shareholders and Angela was not up to it. Communication with shareholders is not Wade's strong point and certainly not something he likes to do.
Perhaps Angela did not agree with the hiring of a local Finance person. I'd like to know more about Rheman Dawood - Vice President, Finance - Nigeria, He is to be based in Lagos so maybe they need more local connections.
JFF7
Having the Spain mine will help a lot with clearing some of the Panamanian politics stigma that was created when they passed that mining law and then repealed it almost right away.
Having operation in two countries makes PTQ much more attractive (apologies to any Panamanians).
JFF7
Symbolic absolutely, promotional absolutely, insider buying, platinum sponsor, share buyback, production plans on website.
But to what end?
JFF7
another 5-10% (general market not PTQ) down should do it.
JFF7
POG tanking now!
what's going on? down below 1640. still really high though. Miners make a tin of money at these levels.
JFF7
Nothing special I guess. Just recovering yesterdays last minute loss and getting more of the ongoing support that has been around lately. UBS? Is that the European contingent?
JFF7
Up 12%
what's going on? Getting unusual support in a strong down market.
This is the stock to own today !
JFF7
I have kept a small position only. PTQ was my most profitable stock for 2010 though.
JFF7
Devil's advocate about timing of promotion
Quite often companies time their promotion with their plans to raise capital by issuing shares. PTQ has a history of issuing shares.
At least we should see a run on the share price at first.
JFF7
TMM.to
well to help you take a look, here is the new corporate presentation.
http://www.timminsgold.com/i/pdf/CorporatePresentation.pdf
Trading at 4.5 times cashflow when their peer average is 8-19 times.
One analyst expect cash costs to reach low 400s.
I don't usually pound the table for a stock but I am for this one.
JFF7
Bobwins - growing gold miners
Are you back in TMM?
- doubling production in next 6 -8 months (65,000 to 130,00)
- new 43-101 on the way (covering over a year of aggressive drilling)
- cash costs dropping under 500 per ounce
- just got good reviews by Grandich and Bob Mojarity(sp?). This one was popular before and will be popular again.
- technically breaking several moving average as well
- I like these low cost open pit miners in Mexico. Just seems they have less go wrong with them on the execution side of things.
JFF7
SSKILLZ1 3rd place. very nice. Good to see you having a good year.
Congrats!
JFF7
Short Interest on TSX stands are about 1.69 Million (someone was asking).
http://www.dailyfinance.com/company/petaquilla-minerals-ltd/ptq/tor/short-interest
JFF7
Mart Resources Inc. - MMT-TSXV, $0.59
Operational Update – UMU 8 Well at Total Depth
Warren Verbonac 403-205-2224 wverbonac@union-securities.com 21-Jul-11
Stock Rating: Buy (was Speculative Buy) Target Price: $0.90
Company Description
Mart is a Canadian company producing light sweet
crude oil from high productivity wells onshore Nigeria.
The Field Production Sharing Agreement entitles Mart
to share in net revenues from the Umusadege Field at
rates ranging from 50% to 82.5 %.
The Company has offices in London, England and
Lagos, Nigeria.
Source: Bigcharts.com
Developments
The UMU 8 well has reached total depth, with oil bearing sands similar to those of the other two wells drilled from the
same pad.
Comments
The UMU 8 well encountered 16 sands with a cumulative gross pay of 385 feet, almost identical to the UMU 7 well
which encountered 15 sands over 380 feet of pay. The UMU 6 well had 18 oil bearing sands over 420 feet of pay.
Fours sands in the UMU 7 well tested cumulatively 10,373 gross bd, and the well was placed on production at 3,352
gross bd from two of the sands. The cumulative test on the UMU 6 well was 14,319 gross bd from four sands, and
initial production was approximately 4,000 gross bd.
We expect the UMU 8 well could be placed on production at over 3,000 gross bd gross, allowing Mart’s share of
production to climb to as high as 7-8,000 bd in Q4/11. In the first quarter of 2011, Mart’s share of production was
3,689 bd.
Oil from the Umusadege field ranges from 40 to 42.5 degrees API, and the high quality allows it to receive a premium
to Brent prices, which yesterday traded as high as US$118.83/b. Nigeria is the fourth largest foreign supplier of oil to
the U.S.
A pad has been constructed for another three locations, to be drilled sequentially, as development of the Umusadege
field continues.
Valuation and Recommendation
At the current stock price, Mart trades at 1.6 times our cash flow estimate of $0.38 for 2011, making it one of the
best value situations in the sector. Full development of the Umusadege Field could result in at least a doubling of
gross production with minimal geological risk. Production facilities will be capable of handling up to 35,000 gross bd
(implying Mart’s share of production before payout could reach almost 29,000 bd, 17,500 bd after payout). Additional
exploration targets exist on the concession, and offer longer term growth potential.
Warren Verbonac 403-205-2224 | wverbonac@union-securities.com EQUITY RESEARCH REPORT
We are changing our recommendation to Buy from Speculative Buy, due to the success the Company has
demonstrated in developing the Umusadege Field; production growth in 2011 should approach 160%compared to the
previous year.
Our target of $0.90 is a 2.4 times multiple of this years cash flow estimate. As the Company continues to demonstrate
success, we expect to see the stock trade at multiples more in line with the sector, with peer companies often trading
at six times cash flow, or more in the case of higher growth situations.
Mart Resources Inc. - MMT-TSXV, $0.59
Operational Update – UMU 8 Well at Total Depth
Warren Verbonac 403-205-2224 wverbonac@union-securities.com 21-Jul-11
Stock Rating: Buy (was Speculative Buy) Target Price: $0.90
Company Description
Mart is a Canadian company producing light sweet
crude oil from high productivity wells onshore Nigeria.
The Field Production Sharing Agreement entitles Mart
to share in net revenues from the Umusadege Field at
rates ranging from 50% to 82.5 %.
The Company has offices in London, England and
Lagos, Nigeria.
Source: Bigcharts.com
Developments
The UMU 8 well has reached total depth, with oil bearing sands similar to those of the other two wells drilled from the
same pad.
Comments
The UMU 8 well encountered 16 sands with a cumulative gross pay of 385 feet, almost identical to the UMU 7 well
which encountered 15 sands over 380 feet of pay. The UMU 6 well had 18 oil bearing sands over 420 feet of pay.
Fours sands in the UMU 7 well tested cumulatively 10,373 gross bd, and the well was placed on production at 3,352
gross bd from two of the sands. The cumulative test on the UMU 6 well was 14,319 gross bd from four sands, and
initial production was approximately 4,000 gross bd.
We expect the UMU 8 well could be placed on production at over 3,000 gross bd gross, allowing Mart’s share of
production to climb to as high as 7-8,000 bd in Q4/11. In the first quarter of 2011, Mart’s share of production was
3,689 bd.
Oil from the Umusadege field ranges from 40 to 42.5 degrees API, and the high quality allows it to receive a premium
to Brent prices, which yesterday traded as high as US$118.83/b. Nigeria is the fourth largest foreign supplier of oil to
the U.S.
A pad has been constructed for another three locations, to be drilled sequentially, as development of the Umusadege
field continues.
Valuation and Recommendation
At the current stock price, Mart trades at 1.6 times our cash flow estimate of $0.38 for 2011, making it one of the
best value situations in the sector. Full development of the Umusadege Field could result in at least a doubling of
gross production with minimal geological risk. Production facilities will be capable of handling up to 35,000 gross bd
(implying Mart’s share of production before payout could reach almost 29,000 bd, 17,500 bd after payout). Additional
exploration targets exist on the concession, and offer longer term growth potential.
Warren Verbonac 403-205-2224 | wverbonac@union-securities.com EQUITY RESEARCH REPORT
We are changing our recommendation to Buy from Speculative Buy, due to the success the Company has
demonstrated in developing the Umusadege Field; production growth in 2011 should approach 160%compared to the
previous year.
Our target of $0.90 is a 2.4 times multiple of this years cash flow estimate. As the Company continues to demonstrate
success, we expect to see the stock trade at multiples more in line with the sector, with peer companies often trading
at six times cash flow, or more in the case of higher growth situations.
MMT.V Union Securities Upgrade to Buy
from T2W on IV
Mart Resources Inc. - MMT-TSXV, $0.59
Operational Update – UMU 8 Well at Total Depth
Warren Verbonac 403-205-2224 wverbonac@union-securities.com 21-Jul-11
Stock Rating: Buy (was Speculative Buy) Target Price: $0.90
Company Description
Mart is a Canadian company producing light sweet
crude oil from high productivity wells onshore Nigeria.
The Field Production Sharing Agreement entitles Mart
to share in net revenues from the Umusadege Field at
rates ranging from 50% to 82.5 %.
The Company has offices in London, England and
Lagos, Nigeria.
Source: Bigcharts.com
Developments
The UMU 8 well has reached total depth, with oil bearing sands similar to those of the other two wells drilled from the
same pad.
Comments
The UMU 8 well encountered 16 sands with a cumulative gross pay of 385 feet, almost identical to the UMU 7 well
which encountered 15 sands over 380 feet of pay. The UMU 6 well had 18 oil bearing sands over 420 feet of pay.
Fours sands in the UMU 7 well tested cumulatively 10,373 gross bd, and the well was placed on production at 3,352
gross bd from two of the sands. The cumulative test on the UMU 6 well was 14,319 gross bd from four sands, and
initial production was approximately 4,000 gross bd.
We expect the UMU 8 well could be placed on production at over 3,000 gross bd gross, allowing Mart’s share of
production to climb to as high as 7-8,000 bd in Q4/11. In the first quarter of 2011, Mart’s share of production was
3,689 bd.
Oil from the Umusadege field ranges from 40 to 42.5 degrees API, and the high quality allows it to receive a premium
to Brent prices, which yesterday traded as high as US$118.83/b. Nigeria is the fourth largest foreign supplier of oil to
the U.S.
A pad has been constructed for another three locations, to be drilled sequentially, as development of the Umusadege
field continues.
Valuation and Recommendation
At the current stock price, Mart trades at 1.6 times our cash flow estimate of $0.38 for 2011, making it one of the
best value situations in the sector. Full development of the Umusadege Field could result in at least a doubling of
gross production with minimal geological risk. Production facilities will be capable of handling up to 35,000 gross bd
(implying Mart’s share of production before payout could reach almost 29,000 bd, 17,500 bd after payout). Additional
exploration targets exist on the concession, and offer longer term growth potential.
Warren Verbonac 403-205-2224 | wverbonac@union-securities.com EQUITY RESEARCH REPORT
We are changing our recommendation to Buy from Speculative Buy, due to the success the Company has
demonstrated in developing the Umusadege Field; production growth in 2011 should approach 160%compared to the
previous year.
Our target of $0.90 is a 2.4 times multiple of this years cash flow estimate. As the Company continues to demonstrate
success, we expect to see the stock trade at multiples more in line with the sector, with peer companies often trading
at six times cash flow, or more in the case of higher growth situations.
"...we have rights to the gold on Inmet's concession."
We do, we do! At last someone gets it !
JFF7
MMT.v / MAUXF.pk
nice results....and the market yawned once again.
Back to being patient for
- Shell off take agreement / decision to build pipeline
- AGIP agreement on cost of extortion for increased use of pipeline
- testing of UMU-8 and resource increase
- Q2 results
- move drill to UMU-9 and start of drilling there.
- analyst coverage
Maybe someday we will see decent valuation on this company.
JFF7
".. ideological differences ...`
If they treated the debt as a real issue instead of a re-election issue, maybe they could make some progress on addressing the problem.
Inflation will be the way out for them eventually. I think you are already seeing western countries willing to let inflation run rather than increase interest rates.
JFF7
2morrow, finally your patience is paying off for you. Good for you!
JFF7
well that explains it. Thanks.
JFF7
why is there so much discussion about the spanish property? What happened to the heap leach pad that was going to be in place for this summer adding 50,000 ounces of production?
JFF7
I like this one (TMM.TO) for a good gain before the end of the year. Been under and overhang created by a large shareholder that sold into any rallies. They are gone as July 18th. Production increasing 50% by the end of the year to 100,000 ounces. New 43-101 being updated with drill results from last year and a bit. Costs heading under 500 an ounce. This one could be a sleeper like AR. Just a slow grind up once it starts. At least that is what I am hoping for.
JFF7
TMM.to
Is it time to take a look at this Mexican miner again?
I just took a starter position in it this morning. (7000 shares)
Last year management had some issues with an institution that had a significant position in the company who kept selling into any rallies. That institution has agreed to sell their 25 million shares. The deal closes July 18th so this should remove the overhang that has existed for some time.
The company is producing at a rate of about 65,000 ounces per year and has plans to move that up to 100,000 ounces per year by the end of the year (50% increase in production).
Management was issued fresh options in April.
There is some insider buying (not a huge amount).
The short interest is declining.
Good cash cost in the low $500s and expected to move down a little under $500.
Granville is also talking this one up now (target 4-5 dollars, I think).
I don't usually add much to the Value boards but this one made some sense to me.
JFF7
PBN.to - I thought the dividend was in jeopardy because they were paying it by drawing on their line of credit. The guy on BNN today also said he expected the production rate to drop this qtr to 37.000 bopd.I think that may have been temporary though because of weather issues.
JFF7