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well, this PP is a blessing to me. I originally got in AUMN at 5 bucks when on pinksheets and foolishly sold after the first PP in disgust at 9 bucks. Looked OK at the time as I wanted to go on holiday for the summer with a big cash position. Should had bought back in early September. I will probably be able to re-build a position at low teens after the PP is done late October. Expect a big big tank next few weeks
no idea. Bobwins must know
did you sell already on CRK? I did too soon at 1.45, but still happy with it.
Bob : EDV
Are warrants supposed to work properly over time?
I am tempted to sell my EDV shares and re-deploy only 1/3 of the money into the warrants and theoretically I would get the same exposure (2.86 / 0.97 = roughly 3 times leverage) to the ups and downs of EDV freeing 2/3rds of my money to play anywhere else
but if we plot a chart of EDV vs. the warrants
it turns out EDV is OUTPERFORMING the warrants by a wide margin !!!
OceanaGold Announces CDN$115.5 Million Bought Deal Private Placement
10/4/2010 3:59:14 PM - NFD
MELBOURNE, AUSTRALIA, Oct 4, 2010 (Marketwire via COMTEX News Network) --
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES.
OceanaGold Corporation (TSX:OGC)(ASX:OGC)(NZSE:OGC) (the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters, led by Macquarie Capital Markets Canada Ltd. and Citigroup Global Markets Canada Inc., pursuant to which the underwriters have agreed to purchase special warrants ("Special Warrants") and common shares in the Company ("Common Shares") available as ASX listed CHESS depositary interests ("CDIs") (together "Securities"), on a bought deal basis, at a price of CDN $3.50 per Security (the "Offering Price") for aggregate gross proceeds of CDN $115.5 million (the "Offering"). CDIs shall be purchased at the Australian dollar equivalent of the Offering Price. Each Special Warrant will entitle the holder thereof to receive, without payment of additional consideration, one TSX listed Common Share.
The Offering is expected to close on 20 October 2010. The CDI's will be freely tradable on the ASX the business day following closing. The Special Warrant and CDI placements are subject to certain customary conditions and regulatory approvals, including the approval of the Toronto Stock Exchange.
Special Warrants will be deemed exercised on behalf of holders, and without any required action or payment of additional consideration by the holders at the earlier of: (i) the third business day after the date of receipt for a final prospectus to qualify, in each of the qualifying jurisdictions the distribution of Common Shares to be issued upon exercise of the Special Warrants (the "Qualification Date"); and (ii) 4:59 p.m. (Toronto time) on the date which is four months and one day following the closing date.
The Company will use its best efforts to file and obtain a receipt for a final short form prospectus in the week beginning November 8, 2010 for the purpose of qualifying the distribution of underlying common shares issuable upon exercise of the Special Warrants.
The Company intends to use the net proceeds of the Offering to fund:
-- A portion of the capital expenditure requirements (estimated at US$140
million) for the development of the Didipio Gold/Copper Project in the
Philippines;
-- Future capital and exploration expenditure associated with extending
mine life at the Company's New Zealand operations; and
-- General working capital requirements.
In addition to the funds raised from the Offering, the Company is considering its options to finance the balance of capital expenditure associated with development of the Didipio Project. This may include one or more of debt, internal cash flow or funding from the introduction of a joint venture partner. In this respect discussions are currently underway with a number of parties.
For further details on the Didipio Project, please refer to the Company's media release dated 20 September 2010.
Company Update
As outlined in the second quarter results announcement, the Company reiterates its forecast 2010 production guidance of 270,000 - 290,000 ounces. However due to adverse movements in the NZ$ / US$ foreign exchange rate cash costs are expected to be higher than the previously announced range of US$455 to $495 per ounce but lower than the first half 2010 results of US$557 per ounce. The Company expects that this increase in unit costs will be more than offset by the recent increase in the US dollar gold price.
This media release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or to any person that is, or is acting for the account or benefit of, a "U.S. person" (as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act")) ("U.S.Persons") or any other jurisdictions outside of Canada, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to any person that is, or is acting for the account or benefit of, a U.S. Person absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. Any offering made will be pursuant to available prospectus and registration exemptions and restricted to persons to whom the securities may be sold in accordance with the laws of such jurisdictions and by persons permitted to sell the securities in accordance with the laws of such jurisdictions.
About OceanaGold
OceanaGold Corporation is a significant Pacific Rim gold producer with projects located on the South Island of New Zealand and in the Philippines. The Company's assets encompass New Zealand's largest gold mining operation at the Macraes goldfield in Otago which is made up of the Macraes open pit and the Frasers Underground mines. Additionally on the west coast of the South Island, the Company operates the Reefton open-pit mine. OceanaGold is 100% unhedged and produces between 270,000 - 300,000 ounces of gold per annum from the New Zealand operations. The Company also owns the Didipio Gold-Copper Project in northern Luzon, Philippines.
OceanaGold is listed on the Toronto, Australian and New Zealand stock exchanges under the symbol OGC.
Cautionary Statement regarding Forward Looking Information
Statements in this release may be forward-looking statements or forward-looking information within the meaning of applicable securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Such forward-looking statements include, without limitation, statements with respect to completion of the Offering, use of expected net proceeds, any additional funding for the Didipio Project and commencement of construction and completion of the Didipio Project. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including, among others, risks associated with the timing of the Offering, pricing, currency fluctuations, the volatility of the Company's common shares in the market, the accuracy of mineral reserve and resource estimates and related assumptions, inherent operating risks and those risk factors identified in the Company's Annual Information Form prepared and filed with securities regulators in respect of its most recently completed financial year. There are no assurances the Company can fulfil such forward-looking statements and, subject to applicable securities laws, the Company undertakes no obligation to update such statements. Such forward-looking statements are only predictions based on current information available to management as of the date that such predictions are made; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control. Accordingly, readers should not place undue reliance on forward-looking statements. It is also noted that mineral resources that are not mineral reserves do not have demonstrated economic viability.
SOURCE: OceanaGold Corporation
OceanaGold Corporation Mr Darren Klinck Vice President, Corporate and Investor Relations +61(3) 9656 5300
Copyright (C) 2010 Marketwire. All rights reserved.
OGC halted. Didipio?
I was to ask about this small sell off on CFO as well. Guess it has to do with the warrants expiring just now. Drill results werent so bad!
lol
new rule added then!
Bottom line: Dont buy into a mine run by a guy named Serge. Frenchmen should be left for cheese and wine and other delicacies they DO know how to run...
lol
down she goes. Stupid halt for such news, creates disappointment
TMB and CFX-UN superhot today! Glad I accumulated CFX like mad. Also some TMB
Anyone knows of a good gold stock with decent fundamentals still trading below 50 AND 200 DMA after having dipped below both ? Best if it has some catalyst going forward next few weeks like exploration results. Like CFO was a few weeks ago when it could be bought at 4 bucks
Under current circumstances any such stock can be safely purchased for a nice bounce IMHO
OT: Nuts
what tech stocks have you been buying?
Osisko and Clifton Star Intersect 42 Metres Averaging 3.78 g/t Au at Duparquet
9/13/2010 3:00:41 PM - Market Wire
MONTREAL, QUEBEC, Sep 13, 2010 (MARKETWIRE via COMTEX News Network) --
Osisko Mining Corporation ("Osisko") (TSX: OSK)(FRANKFURT: EWX) and Clifton Star Resources Inc ("Clifton") (TSX VENTURE: CFO)(FRANKFURT: C3T) are pleased to announce results from thirty-seven additional holes from the 2010 drill program at the Duparquet Project, located in the Abitibi region of Quebec. Significant intersections from the new drill holes from the Beattie property include 42.0 metres averaging 3.78 g/t Au (BD10-228), 35.9 metres averaging 2.11 g/t Au (BD10-242) and 70.5 metres averaging 1.32 g/t Au (BD10-245). Assay results are summarized in the table below.
Drilling is focused on three properties: Beattie, Donchester (eastern extension of Beattie) and Duquesne for an overall 2010 drilling campaign of 122,000 metres. The current Phase I drill program comprises 67,500 metres of drilling on the Beattie property, currently 98 percent complete with 202 out of 206 holes. A Phase Two drilling program of 20,000 metres is 100 percent complete on the Duquesne property, and a Phase Three program of 33,000 metres is 80 percent complete on the Donchester Property. The property-wide drill program is progressing on schedule with 5 drills currently on site.
Beattie Property
-----------------------------------------------------------------------
---
Hole No. Section Az./dip From (m) To (m) Length (m) Au g/t
BD10-222 631000E N/60 8.0 30.5 22.5 1.35
And 162.3 171.1 8.8 2.31
BD10-224 630700E S/60 89.0 107.0 18.0 2.06
And 155.9 163.5 7.6 1.82
BD10-226 630600E S/45 52.7 63.5 10.8 1.85
And 120.3 127.7 7.4 2.13
BD10-228 629900E N/60 27.0 69.0 42.0 3.78
including 58.5 61.5 3.0 15.95
BD10-229 629900E S/73 72.3 83.0 10.7 1.26
BD10-230 630300E S/65 141.0 172.5 31.5 0.75
BD10-231 630300E S/51 237.5 257.0 19.5 1.29
BD10-232 631100E N/60 310.0 313.7 3.7 5.27
BD10-233 631100E N/68 93.5 98.1 4.6 4.40
And 223.0 228.8 5.8 1.76
And 301.1 305.8 4.7 3.35
BD10-241 630200E N/60 236.0 246.5 10.5 3.85
BD10-242 630400E N/60 188.0 223.9 35.9 2.11
BD10-244 630500E S/60 349.5 363.0 13.5 1.48
BD10-245 630300E S/60 285.5 356.0 70.5 1.32
--------------------------------------------------------------------------
Drill holes BD10-221, BD10-223, BD10-225, BD10-227, BD10-235 to BD10-238 and BD10-240 did not intersect significant mineralization. These holes tested the core of the syenite porphyry intrusion, margins to underground stopes, or alternatively surrounding basalts and sediments, all separate from the known mineralized zones. Results for holes D10-169, BD10-186, BD10-188, BD10-194, BD10-210, BD10-234, BD10-239 and BD10-243 are pending.
Duquesne Property
Over the past two months, the drill program at Duquesne has been concentrating on extending the Nipissing Zone as well as the Main Zone to the east of the Duquesne underground workings. Recent drilling results on the Main Zone are as follows:
-----------------------------------------------------------------------
---
Hole No. Section Zone From (m) To (m) Length (m) Au g/t
DQ10-47 645200E Main 71.0 72.0 1.0 13.15
DQ10-48 645250E Main 32.9 39.1 6.2 1.35
DQ10-52 645450E Main 27.0 46.5 19.5 4.22
including 33.0 34.5 1.5 21.40
DQ10-53 645500E Main 55.5 57.0 1.5 5.18
DQ10-61 645600E Main 346.5 361.7 15.2 2.60
including 360.0 361.7 1.7 15.20
DQ10-62 645350E Main 123.0 124.0 1.0 9.34
DQ10-63 645850E Main 42.2 48.6 6.4 4.47
DQ10-64 645900E Main 222.0 227.2 5.2 2.01
DQ10-67 645450E Main 381.2 383.0 1.8 5.63
DQ10-68 645400E Main 279.0 284.0 5.0 1.05
DQ10-72 646000E Main 287.4 297.1 9.7 1.65
DQ10-76 645750E Main 96.0 107.0 11.0 5.81
including 98.0 100.0 2.0 17.7
--------------------------------------------------------------------------
Drill holes DQ10-43, DQ10-45, DQ10-49, DQ10-50, DQ10-51, DQ10-54 to DQ10-60, DQ10-65, DQ10-66, DQ10-69 to DQ10-71, DQ10-74 and DQ10-75 did not intersect significant mineralization. Assays for drill hole DQ10-73 are pending.
Osisko has the right to acquire a 50% interest in the Duparquet project in consideration for (1) total exploration expenditures of $70 million from 2010 to 2013, and (2) extending loans to Clifton to fund option payments on the property of $8.5 million for 24 months and $22.5 million for 36 months. These loans would carry interest at 5% and can be converted into stock at Clifton's choice. Osisko had also extended a $6 million credit line to Clifton, to be drawn prior to January 1, 2010, which was not utilized.
All NQ core assays reported above were obtained by standard 50 g fire assaying-AA finish or gravimetric finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported drill core weighted averages were calculated using a minimum of 0.60 g/t Au over successive maximum intervals of 20 metres with an upper cut-off of 30 g/t Au where indicated. Intersected drifts or lost core within mineralized intersections were incorporated as blank intervals. The true widths are estimated at approximately 50% to 75% of the core lengths reported above.
Osisko follows strict QA-QC protocol measures in keeping with industry standards and regulatory reporting requirements. Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person who has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed including the sampling, analytical and test data underlying the technical information.
Forward-Looking Statements
Certain statements contained in this press release may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Osisko and Clifton (collectively the "Parties") expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "scheduled" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur including, without limitation, the commencement of commercial production. Although the Parties believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, including, without limitation that all technical, economical and financial conditions will be met in order to warrant further development of the Duparquet Project, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include gold prices, access to skilled consultants, mining development personnel, results of exploration and development activities, the Parties' limited experience with production and development stage mining operations, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations market prices, continued availability of capital and financing and general economic, market or business conditions. These factors are discussed in greater detail in Osisko's most recent Annual Information Form and in Clifton's most recent Management Discussion and Analysis filed on SEDAR, which also provide additional general assumptions in connection with these statements. The Parties caution that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Parties' forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Parties believe that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.
Contacts: Osisko Mining Corporation John Burzynski Vice-President Corporate Development 416-363-8653 www.osisko.com Clifton Star Resources Harry Miller President 425-453-0355 hmiller@cliftonstarresources.com www.cliftonstarresources.com
SOURCE: Osisko Mining Corporation and Clifton Star Resources Inc.
http://www.osisko.com mailto:hmiller@cliftonstarresources.com http://www.cliftonstarresources.com
Copyright 2010 Marketwire, Inc., All rights reserved.
Now define "very very soon" ? . Last time I heard "Very soon" for something ( a public presentation available) from Wade it took 2 1/2 months.
kozuh: re: SSN
Bob actually said on 23rd August
I think share price will pop when/if the cash is received.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53621468&txt2find=ssn
and on 30th August:
Samson could keasily sell on the news when they close their acreage sale
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53867925&txt2find=ssn
I think he either is trying to cover all bases here or he changed medication between 23rd and 30th August. lol
P.S: great idea on the Portugal annexation. I shall write our Presidente about it. I always felts those dirty Portuguese wanted to be closer to us anyway. hope my letter doesnt find him too busy dealing with other "progressive" leaders like your Obama or Chavez...
Yes, lot of familiar names there. I made my first 5 bagger with TRGL back in 2005.
SSN: saw this on hotcopper.com.au..
Samson is presenting at this conference to "institutional, private equity and other sophiticated investors"
Key note speaker is Henry Paulson !!
Terry is doing all the right things IMO to get the name out there.
http://www.rodmanandrenshaw.com/conferences?id=54
some folks probably moving out of MAA and in to AAA on MAA further delays sell off this morning...
MagIndustries waits for Complant to complete evaluation
2010-08-30 17:37 ET - News Release
Mr. Bill Burton reports
MAGINDUSTRIES UPDATE ON PROPOSED TRANSACTION WITH COMPLANT
As reported in its news release in Stockwatch of July 26, 2010, MagIndustries Corp. and Complant had agreed on material commercial terms under which Complant would acquire a controlling interest in the company's Mengo potash project in the Republic of Congo. The parties have proceeded with the drafting of a project development agreement (PDA) reflecting these terms. The PDA was scheduled to be signed by both parties in Toronto by the end of August, 2010, subject to the completion and results of final due diligence and technical evaluation by Complant, and receipt of authorizations by the boards of directors of each party. Meetings took place between senior managers of the two companies in Toronto, but the expected approval from Complant's controlling shareholder, State Development and Investment Commission (SDIC) (a Chinese state-owned enterprise), to sign the PDA is still pending.
MagIndustries understands that Complant has forwarded technical and financial feasibility studies to SDIC recommending the transaction, subject to the completion and results of final due diligence and technical evaluation. The SDIC review of this recommendation is continuing.
Pending the results of SDIC and other Chinese governmental approval processes, MagIndustries continues in active dialogue with Complant, however, on a non-exclusive basis, and is reassessing other options in light of the dramatic changes occurring in the industry.
Over all, the Potash supply industry is facing a fundamental reshaping with BHP Billiton PLC's $38.6-billion (U.S.) takeover offer for Potash Corp. of Saskatchewan Inc. (a valuation which requires higher potash prices in the future to provide a satisfactory financial return) and aggressive efforts under way to consolidate the Russian and former Soviet Union producers. The implications of these pending changes are potentially negative for potash importing nations such as China, given the prospects of higher future potash prices and greater concentration of producers. These developments, in the company's view, highlight the expected advantages of its Mengo potash project of relatively low capital cost per tonne of production, low production costs and scalability based on abundant reserves.
We seek Safe Harbor.
Bob,
any idea on how to value the rest of the lands they hold that are not sold now?
Kozuh, I am back before planned and ready to assist you again!!!!! Had to cancel my luxury cruise around Seychelles due to the haircut taken on my CEN shares!!
You are right we Europeans try to have holidays from 1st July to 31st August and then try not to work from September to June. Problem is most try to do it with government subsidies instead of what we the wise fellas do :P
Similar haircuts almost everywhere I look. CEN actually increased production by almost 1k bopd according to the NR last week and it is downabout 25% sice that report. Would buy more here if I wasnt already loaded up
Afren comes to mind. Present in more countries than just Nigeria, but most of their production is from Nigeria.
http://www.afren.com/
Hope someone else can come up with a better benchmark
Can you comment on the conversation with MMT´s management?
MAUXF: I think the problem is they screwed enough before with that idiot Halpin they used to have as CFO going around saying drilling would start in April which made quite some investors furious that now they err on the other side, i.e. being to vague and only stating dates when they are factual.
Maybe our DigiTech can provide some more details ?
Hugh Hendry´s (a very bizarre UK deflationist fund manager) last letter back in May had some interesting comments on the Ag/China issue
http://www.creditwritedowns.com/2010/06/hugh-hendry-eclectica-fund-management-commentary-may-2010.html
( page 9 to 11 - Chairman Mao´s Great Leap Forward )
CFX.UN down another 4%. At this pace of decline it will soon be at 25% yield. Unbeliavable!
who or what is KIK?
RSG.AX: uplist on American exchange and promote....
I dont think they have a f clue....
they did set up a very much nicer website than the one a year or so ago
http://www.resolute-ltd.com.au/
it´s very nice done, very bright pictures and all!
It´s got it all...
Corporate Overview
Operations Ov
Development Ov
Exploration Ov
Corporate Responsability (wow)
they only forgot a "small" detail....
Investor´s whateverability !!!
No freakin place for the usual investor stuff
E-mailed them on the issue and still waiting for a reply after some 300 or so days
so, yes
I think RSG holds lot of promise with their single Australian listing and their great concern about promotion and IR efforts !
You can always buy back in... higher! lol
Plenty of time to get in
He´s cheap if he can not get a regular subscription, that´s for sure... lol
Right on Ithaca. I think what of the most rosy posters on IAE are missing is that cash flow increases are way away timewise while dilution is already in. So long term benefits are outpaced by short term negative. I´m gladly out of IAE since May close to the highs
Frustrating action indeed. CFX up a palsy 2% on a distribution rise of 10% and a big day for the markets including MERC or UFS up close to 6%.
I have extensively researched the Canadian income funds/trusts space for an income portfolio I manage and I dont know anything else
yielding close to 19% as CFX does now. And that includes LOTs of companies with way UGLIER balance sheets than CFX´s.And with distributable cash per unit of $0.88 for the last quarter, distributions could still go up some going to year end.
At 14 bucks and close to 3 bucks annualized distribution, my conclusion is market must be expecting pulp prices to collapse hard starting tomorrow.
So yes, if we can think pulp prices are more in a plateau than at a peak, this is a f*** it, lets hold and collect situation and they will come to us sooner or later. Which I find perfectly easy to do for an income oriented portfolio but not for a growth oriented like mine, so I will switch some into more TMB
Another issue I can come up with CFX-UN is that it has gone up so much from just a year ago or so where it was at 2 bucks that it makes it an easy sell button to push, either on a panick day for the markets or on a bull like today when one might feel like easing up on the slow movers and chasing up hot stocks.
Interested to hear other´s comments around these issues. Nuts?
Ormetal you mean?
Check out CFX.UN tomorrow 21st. Will announce 2nd quarter earnings and new distribution going forward AFTER market close. Distribution most likely to raise to 25c-30c from 20c previously. Should be a blow off quarter with positive guidance going forward plus yield will most likely jump above 20%, if that doesnt put the stock on fire I dont know what will. I´m loaded up like mad on CFX.UN
MMT.V coverage initiated at Union Securities with 40c target
http://www.union-securities.com/CMResearchFiles/1_117_Mediterranean%20Middle%20East%20and%20Africa%20Initiating%20Coverage.pdf
Ormetal is so good? I didnt think so as it "found" OGC at 2-3 bucks when it was discussed here on this board at 50c and it "found" EAS at many multiples of it being discussed here first by Chen at 20 or 30 cents
CENJF on Pink Sheets