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I still think we are going to have another leg down, starting sometime in the next couple of weeks or so. I hope we can get Blue Pearl and RNO earnings before any correction starts, coupled with high metal prices should be great! Remember, a world wide correction will equate to a world wide margin call. That will cause everything to go down hard.
Kipp
cl001 - METALHEADS are rockin today! Do you think RNO earnings are coming out after the close?
China industry output surges, lifts inflation concern
http://www.marketwatch.com/news/story/chinas-industrial-output-surges-lifts/story.aspx?guid=%7BCB9D8...
I told my wife my new girlfriend's name is ............"MOLY"
I have lots of Blue Pearl and ROK.V. I am going to pass on AUA for the reasons you mention. China just had 18.5% rise in industrial growth!
Kipp
Thanks cl001 - AUA.V ??
I am with you on moly. What do you think about AUA.V as a potential producer?
cl001 - metal market
WOW, you made some great trades again! I am interested in your longer view. I am of a mind that we have another leg down in this correction. I am using strength to work my way to a larger cash pile in the event I am correct. If I am wrong, I still have my cash! If I am right, I have more cheaper shares.
What do you think looking out into summer?
Kipp
Roca dilutes us again!
I hope they find a bunch of Moly under that pit! Another buying op I guess. We need cash flow!!!!! No more dilutiuon!!!
Roca Funds Max Molybdenum Exploration Program
Wednesday March 14, 4:34 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 14, 2007) - Roca Mines Inc. (TSX VENTURE:ROK - News; "Roca") announces that it has arranged a non-brokered private placement with Sprott Asset Management Inc. for proceeds of $2 million through the issuance of 1,212,121 units at a price of $1.65 per unit.
ADVERTISEMENT
Each unit will consist of one common share of Roca and one warrant, each warrant entitling the holder to purchase an additional common share at a price of $2.25 for 18 months following closing. All securities issued pursuant to the private placement will be subject to a four-month hold period. This financing remains subject to regulatory approval.
Proceeds from the private placement will be used to fund an accelerated exploration program at the MAX Molybdenum project, with the objective of expanding the known molybdenite resource at depth. Diamond drilling will initially concentrate on areas below the existing resource and will test exploration models evaluated by the Company's exploration advisory board and supported by mineralized zones discovered in drill holes completed in the 1980's by previous operators.
Roca also plans to advance its tungsten exploration on the property as soon as practicable; both underground and surface tungsten targets will be evaluated. The surface strike length of known tungsten mineralization on the property now totals 1,450 metres in length and extends over a vertical range of 600 metres (see press release ROK#19-06 dated December 12, 2006).
The Company's accelerated exploration program will not impact mine development or planned production.
Roca plans to be the first new primary molybdenum producer in Canada, with production to commence in mid-2007. The permitted Phase I mine plan for Max will focus on the deposit's high-grade zone containing 280,000 measured and indicated tons grading 1.95 per cent molybdenite (MoS2) (refer to T.N. Macauley's 43-101-compliant technical report dated September, 2004, available on SEDAR). Molybdenum currently trades in the range of US$28 per pound.
ROCA MINES INC.
David J. Skerlec, Chief Financial Officer
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Doug Fosbrooke
Roca Mines Inc.
Investor Relations
(604) 684-2900
(604) 684-2902 (FAX)
Email: info@rocamines.com
Website: www.rocamines.com
Ivernia Message
May be a good buy here.
http://biz.yahoo.com/ccn/070314/200703140378023001.html?.v=1
Antofagasta Sees Copper Material Deficit Through 2008
(Weeker dollar and inventory decline could get copper back above $3.00lb, Kipp)
By Chanyaporn Chanjaroen
March 13 (Bloomberg) -- Antofagasta Plc, the owner of three copper mines in Chile, said the global market for concentrate, a raw material smelted into metal, will be in ``significant'' shortfall this year and in 2008 because of ``low'' stockpiles.
Copper supply ``remains vulnerable to declining grades and other constraints including equipment availability, labor shortages and power and water supplies,'' the London-based company said today in a statement distributed by the Regulatory News Service that accompanied its full-year results.
Mining companies such as Antofagasta benefit amid shortages of concentrate because the processing charges imposed by smelting companies for turning it into metal drop. Smelting charges fell to $60 a metric ton this year while refining charges declined to 6 cents a pound. They were $95 a ton and 9.5 cents a pound respectively in 2006.
Copper production will drop 2 percent to 456,000 tons this year as output at all three mines falls, the company also said.
Prices for copper for delivery in three months on the London Metal Exchange have fallen 27 percent since rising to a record $8,800 a ton May 11. While copper will rebound this year, ``the exceptional average copper prices of 2006 might not be repeated,'' Antofagasta said.
Demand for molybdenum, a byproduct of the company's copper mining, will remain ``strong'' this year, helping prices to remain above historical averages, Antofagasta said. The company produces the metal at its Los Pelambres mine in Chile. Molybdenum is used to toughen stainless steel.
Production will increase 12 percent to a record of about 11,000 tons this year, the company said.
Market prices of molybdenum fell to $24.8 per pound last year, from $32 in 2005, the company said.
Foreclosures May Hit 1.5 Million in U.S. Housing Bust (Update3)
By Bob Ivry
March 12 (Bloomberg) -- Hold on to your assets. The deepest housing decline in 16 years is about to get worse.
As many as 1.5 million more Americans may lose their homes, another 100,000 people in housing-related industries could be fired, and an estimated 100 additional subprime mortgage companies that lend money to people with bad or limited credit may go under, according to realtors, economists, analysts and a Federal Reserve governor. Financial stocks also could extend their declines over mortgage default worries.
The spring buying season, when more than half of all U.S. home sales are made, has been so disappointing that the National Association of Home Builders in Washington now expects purchases to fall for the sixth consecutive quarter after it predicted a gain just last month.
``The correction will last another year,'' said Mark Zandi, chief economist for Moody's Economy.com in West Chester, Pennsylvania. ``Fewer people qualifying for mortgages means there will be less borrowers, and that will weigh on demand.''
A five-year housing boom that ended in 2006 expanded home- ownership to a record number of U.S. households. Now it has given way to mounting defaults, failing subprime mortgage companies and an increasing number of unsold homes.
Last Housing Slump
If this slump follows the same pattern as the last one, in 1991, it will persist for at least another year and may fuel a recession. New-home sales declined 45 percent from July 1989 to January 1991 and about 1 percent of all U.S. jobs, or 1.1 million, were lost in that recession, said Robert Kleinhenz, deputy chief economist of the California Association of Realtors.
This time around, new-home sales have declined 28 percent since September 2005, hitting a low in January, the last month for which data is available. And though the national jobless rate is near a five-year low this month, mortgage-related jobs fell by almost 2,000 in January alone. At least two dozen of the more than 8,000 mortgage lenders have been forced to close or sell operations since the start of 2006.
Subprime lenders Ameriquest Mortgage Co. in Irvine, California; Ownit Mortgage Solutions LLC and WMC Mortgage Corp., a subsidiary of General Electric Co., in Woodland Hills, California; Mortgage Lenders Network USA Inc. in Middletown, Connecticut and Fremont General Corp. together have fired more than 5,600 workers in the past year.
New Century
New Century Financial Corp., the second-largest subprime lender, said today it ran out of cash to pay back creditors who are demanding their money now. The Irvine, California-based company has lost 90 percent of its market value this year and stopped making new subprime loans, prompting speculation it will seek bankruptcy protection. New Century already has cut 300 jobs and its 7,000 remaining employees are waiting to see if the company will survive.
Fremont General, the Brea, California-based lender that is trying to sell its residential-mortgage unit, was ordered to stop making subprime loans by the U.S. Federal Deposit Insurance Corp. last week. Fremont was marketing and extending loans ``in a way that substantially increased the likelihood of borrower default or other loss to the bank,'' the FDIC said last week.
Doug Duncan, chief economist of the Washington-based Mortgage Bankers Association, predicted in January that more than 100 home lenders may fail this year.
The subprime crisis ``has taken the fuel out of the real estate market,'' said Edward Leamer, director of the UCLA Anderson Forecast in Los Angeles. ``The market needs new money in order to appreciate, and all of that money is gone for a very long time. The regulators are not going to allow it to happen again.''
Higher Rates
Subprime mortgages are given to people who wouldn't qualify for standard home loans and typically have rates at least 2 or 3 percentage points above safer prime loans. The portion of subprime loans that financed new mortgages rose to 20 percent last year from 5 percent in 2001, according to the Mortgage Bankers Association.
Subprime loans contributed to a home-ownership rate that reached a record 69.3 percent of U.S. households in the second quarter of 2004, up 5.4 percentage points from the same period in 1991, according to the U.S. Census Bureau.
``Probably the gain in home ownership over the last four, five years, is almost entirely due to looser lending standards,'' said James Fielding, a homebuilding credit analyst at Standard & Poor's in New York.
Refinancing Option
As home prices steadily gained from 2001 to 2006, homeowners who fell behind on mortgage payments could sell their homes and pay off their loans or get better refinancing terms based on the higher value of their property. Now that home values are declining, many borrowers won't be able to refinance because they would have to come up with the difference between their new mortgage and what their home is now worth.
Defaults may dump more than 500,000 homes on a housing market already saturated with leftover inventory built during boom times, New York-based bond research firm CreditSights Inc. said in a March 1 report.
Mortgage defaults may climb to $225 billion over the next two years, compared with about $40 billion annually in 2005 and 2006, according to debt strategists at Lehman Brothers Holdings Inc.
Seven-Year High
The portion of subprime loans more than 60 days delinquent or in foreclosure rose to 10 percent as of Dec. 31, from 5.4 percent in May 2005, the highest in seven years, according to data compiled by Friedman Billings Ramsey Group Inc. of Arlington, Virginia.
Many of the delinquencies came from loans where borrowers didn't have to provide tax returns or other evidence of income, or where they financed 100 percent or more of the home's value, CreditSights analyst David Hendler wrote in a March 5 report. Other defaults came on adjustable-rate mortgages with artificially low introductory ``teaser'' rates, sometimes with ``option'' payment plans that allowed borrowers to defer interest.
Banks ought to be concerned about such loans and are likely to see more missed payments and foreclosures as consumers with weak credit histories begin to face higher monthly mortgage payments, Federal Reserve Governor Susan Bies said last week.
``What we're seeing in this narrow segment is the beginning of the wave,'' Bies said. ``This is not the end, this is the beginning.''
About 1.5 million U.S. homeowners out of a total of 80 million will lose their homes through foreclosure, University of California-Berkeley economist Ken Rosen said last week.
``The subprime borrowers paid too much for their homes, and all of a sudden, they'll see their house value drop by 10 to 15 percent,'' Rosen said.
Borrowers at Risk
The Center for Responsible Lending in Durham, North Carolina, said in a December study that as many as 2.2 million borrowers are at risk of losing their homes, at a potential cost of $164 billion, from subprime mortgages originated from 1998 through 2006.
The number of U.S. foreclosures rose 42 percent to 1.2 million last year from 2005, according to Irvine, California-based RealtyTrac, while delinquencies in the last three months of 2006 rose to the highest level in four years, the Federal Reserve said.
Housing and related industries, which account for about 23 percent of the U.S. economy -- including makers of everything from copper pipes to kitchen cabinets -- fired about 100,000 workers last year. The total will be higher this year, according to Amal Bendimerad of the Joint Center for Housing Studies at Harvard University in Cambridge, Massachusetts.
Job Cuts
By the end of this year, job cuts at companies including Benton Harbor, Michigan-based Whirlpool Corp., Masco Corp. of Taylor, Michigan, and St. Louis-based Emerson Electric Co. may exceed the fallout from the 1991 housing slump, said Paul Puryear, managing director at St. Petersburg, Florida-based Raymond James & Associates. The Bureau of Labor Statistics doesn't give data for housing-related job losses.
``The fallout in the early 1990s was much worse than what we've seen so far, but this downturn is not over,'' Puryear said. ``The full impact hasn't hit yet.''
U.S. House Financial Services Committee Chairman Barney Frank, a Massachusetts Democrat, said he may propose legislation to reign in ``inappropriate'' lending, and a House subcommittee is scheduled to consider subprime lending and foreclosures March 27.
``The standards got loosened so much, and there's always the pressure to make money that there was pressure to maybe make the questionable loans that shouldn't have been made,'' said Ohio Representative Paul Gillmor, the subcommittee's top Republican, in a March 9 interview. ``The major problem has been the overall deterioration in credit standards by lenders that's exacerbated by those who are unscrupulous.''
Fraud `Pervasive and Growing'
The Federal Bureau of Investigation says mortgage fraud is ``pervasive and growing'' and the incidence of such fraud has almost doubled in the past three years.
``There has been an increase in unscrupulous individuals in the market,'' said Arthur Prieston, chairman of the Prieston Group, a San Francisco-based company that investigates mortgage fraud. ``There's an unfair assumption of a connection between subprime failure and fraud. But there is a connection between early default and fraud.''
Mortgage fraud is committed when a borrower misrepresents himself or his finances to a lender. Some of that fraud involved speculators. They drove up prices during the boom by ordering new homes with the intent of selling them immediately after taking possession.
That ``flipping'' inflated demand and put the speculators in competition with the homebuilders, propelling the median U.S. home price to $276,000 last June from $177,000 in February 2001.
Housing Bubble
``A lot of the housing bubble was speculation,'' said Mike Inselmann of the Houston-based research firm Metrostudy.
When home prices got so high that speculators could no longer turn a profit, they canceled their contracts and walked away from their down payments.
Cancellation rates for new homes have surged to almost 40 percent of home contracts, Margaret Whelan, a New York-based analyst at UBS AG, said in a report on March 2.
That forced the top five U.S. homebuilders -- D.R. Horton Inc., Pulte Homes Inc., Lennar Corp., Centex Corp. and Toll Brothers Inc. -- to write off a combined $1.47 billion on abandoned land in the fourth quarter of 2006.
On top of that, new home sales plunged 17 percent last year from 2005, the biggest decline since 1990, according to the Chicago-based National Association of Home Builders. Existing home sales fell 8.4 percent in 2006 from a record in 2005, according to the National Association of Realtors.
`All 12 Months'
Donald Tomnitz, D.R. Horton's chief executive officer, said last week that his Fort Worth, Texas-based company would miss its projections for this year and that ``2007 is going to suck, all 12 months of the calendar year.''
A Standard and Poor's index of 16 homebuilders tumbled 4.1 percent today, its biggest decline since August, on concerns over increasing inventory and subprime defaults. The index has fallen 12 percent since Jan. 1.
D.R. Horton shares fell 5.1 percent today in New York Stock Exchange composite trading. Bloomfield Hills, Michigan-based Pulte dropped 4.8 percent; Lennar, based in Miami, dropped 4.9 percent; Dallas-based Centex lost 3.7 percent and Toll, based in Horsham, Pennsylvania, fell 3 percent.
Concern that the housing slump and defaults in the subprime mortgage industry will affect earnings at the largest banks and lenders has hurt financial stocks. They are the worst performers in the Standard & Poor's 500 Index since the benchmark reached a six- year high on Feb. 20. The group lost 5.6 percent, outpacing the broader index's 3.9 percent drop.
Investment banks including Merrill Lynch & Co., Deutsche Bank AG and Morgan Stanley have spent more than $4 billion over the past year to buy home-loan companies as add-ons to their mortgage-bond trading businesses. They needed loans to repackage into securities to sell to investors. Demand for higher yields led them into the subprime market. As that business flourished, financial firms either invested in subprime lenders of bought them.
`Too Early to Tell'
The number of U.S. financial institutions in the mortgage business jumped 16 percent to 8,848 in the past four years, according to the Federal Financial Institutions Examination Council.
``It's a little too early to tell how it shakes out for investment banks,'' said Andrew Davidson, president of New York- based Andrew Davidson & Co., which advises fixed-income investors on mortgage bonds. ``If it turns out that they have large losses, the investment banks tend not to be very forgiving and usually terminate businesses that haven't worked for them.''
Dale Westhoff, a senior managing director at New York-based Bear Stearns Cos., the largest underwriter of mortgage bonds, said last week that failing subprime lenders ``are going to be absorbed very quickly.''
``Hedge funds and private equity are going to play a very important role in buying distressed assets,'' Westhoff said.
Optimists
In contrast to the 1991 housing skid, worker productivity is increasing, consumer confidence is expanding, interest rates remain within 1 percentage point of the 40-year low and the jobless rate fell to a five-year low last month. Last month, 7.4 million new and existing homes were sold at an annualized pace, more than twice the 1991 bottom.
And real estate people tend to be the world's most optimistic, said Bryce Bowman, director of development for Randolph Equities LLC in Chicago.
``There's a lot of capital chasing real estate and that has not ceased with this bust,'' Bowman said. ``Developers have stopped building crazy speculative housing developments and are burning off their inventory, so we're excited about the end of '07, and we want to be ready to go when business picks up in '08.''
Australian bird deaths halt Ivernia lead shipments
Mon Mar 12, 2007 10:50 AM ET
VANCOUVER, British Columbia , March 12 (Reuters) - Ivernia Inc. <IVW.TO> said on Monday its shipments of lead concentrate had been halted pending the outcome of an investigation into the recent death of several birds in Western Australia, possibly from lead poisoning.
The Toronto-based mining company owns the Magellan lead mine in Western Australia, which opened in 2005 and is ramping up to full production.
Ivernia said in a statement that tests by the Western Australian Department of Environment and Conservation suggested two of four birds examined had died of lead poisoning.
The company wasn't immediately available for comment.
Trading in Ivernia's stock was halted on the Toronto Stock Exchange before the announcement. It was last bid and offered at below C$1.60, after closing at C$1.83 on Friday.
The Magellan mine produced 63,200 tonnes of lead metal in concentrate last year. Once at full production, which the company expected the mine to reach in the second half of this year, according to the firm's Web site, the Magellan mine will account for about 3 percent of the world's lead mine supply.
Lead's biggest use is in lead-acid batteries for cars.
Australian bird deaths halt Ivernia lead shipments
Mon Mar 12, 2007 10:50 AM ET
(Adds details)
VANCOUVER, British Columbia , March 12 (Reuters) - Ivernia Inc. <IVW.TO> said on Monday its shipments of lead concentrate had been halted pending the outcome of an investigation into the recent death of several birds in Western Australia, possibly from lead poisoning.
The Toronto-based mining company owns the Magellan lead mine in Western Australia, which opened in 2005 and is ramping up to full production.
Ivernia said in a statement that tests by the Western Australian Department of Environment and Conservation suggested two of four birds examined had died of lead poisoning.
The company wasn't immediately available for comment.
Trading in Ivernia's stock was halted on the Toronto Stock Exchange before the announcement. It was last bid and offered at below C$1.60, after closing at C$1.83 on Friday.
The Magellan mine produced 63,200 tonnes of lead metal in concentrate last year. Once at full production, which the company expected the mine to reach in the second half of this year, according to the firm's Web site, the Magellan mine will account for about 3 percent of the world's lead mine supply.
Lead's biggest use is in lead-acid batteries for cars.
Blue Pearl - This is a change!
Instead of diluting shareholders to make aquisitions, Blue Pearl took higher interest loans and is now using cash to pay them back. Nice not to pay that interest anymore, nicer not to get diluted!
http://biz.yahoo.com/ccn/070312/200703120377420001.html?.v=1
Kipp
China Trade Surplus Overshoots Economists' Estimates
By Nipa Piboontanasawat and Yanping Li
March 12 (Bloomberg) -- China's trade surplus was three times bigger than economists expected in February, giving more ammunition to U.S. lawmakers calling for a stronger yuan.
The gap widened to $23.76 billion, the second-highest monthly surplus ever, from $2.5 billion a year earlier, the customs bureau said today on its Web site. The median estimate of economists in a Bloomberg News survey was $7.3 billion.
China's central bank Governor Zhou Xiaochuan today pledged to accelerate the drive to a market-led financial system, echoing the recommendations last week of U.S. Treasury Secretary Henry Paulson. Changes may pave the way for a more flexible yuan, helping Paulson to fend off calls in Congress for trade sanctions.
The surplus ``was shocking, and it posts huge pressure on China to allow the yuan to appreciate faster,'' said Credit Suisse Group's Vincent Chan, the top-ranked China analyst in AsiaMoney's 2006 investor poll.
U.S. lawmakers and manufacturers accuse China of holding down the value of the yuan to spur exports. The yuan has gained about 6.8 percent against the dollar since China ended a decade- old fixed exchange rate to the U.S. currency in July 2005.
The yuan fell 0.1 percent to close at 7.7520 to the dollar at 5:30 p.m. in Shanghai, according to the China Foreign Exchange Trade System. China limits movements in the yuan against the dollar to 0.3 percent either side of a daily reference rate.
Exports Jump
Exports gained 52 percent in February, the biggest jump since 1995. Imports climbed 13 percent. The surplus for the first two months was $39.6 billion, more than triple the same period last year.
February's surge came even as the number of working days was shortened by the lunar new year holiday. Economists combine figures for January and February to eliminate distortions from the timing of the holiday, which straddled both months last year.
``This number has some water in it and may not all be genuine merchandise trade,'' said Paul Tang, an economist at Bank of East Asia in Hong Kong. ``There is some hot money flowing into China undercover with trading companies.''
China will ``restructure and deepen'' its capital markets, loosen controls on interest rates and carry out further bailouts of state banks, People's Bank of China Governor Zhou said at a press conference in Beijing with Commerce Minister Bo Xilai before the trade figures were released.
Lawmakers' Target
The central bank reiterated a commitment to make the yuan more flexible ``gradually,'' in a statement issued at the briefing. Chinese officials have said repeatedly that they need to strengthen the banking system and develop the financial markets before the currency can be freely traded.
China's trade surplus may rise to more than $200 billion this year from $177.5 billion in 2006, economists at Goldman Sachs Group, Societe Generale SA and ING Bank NV estimate.
Lawmakers in Washington have introduced two measures targeting Asian imports. The first would allow companies to petition for sanctions against nations that manipulate their currencies. The second, put forward by both Republican and Democrat lawmakers, would add duties to some Chinese imports to compensate for government subsidies to industries.
``This couldn't come at a worse time; the protectionist sentiment in Washington D.C. is probably at the highest in the past 20 years,'' said Gene Ma, an economist at Citic Securities Co. in Beijing. Ma called the February surplus an ``incredible figure.''
Commerce Minister Bo said China will seek to increase imports, boost domestic consumption and slow the growth of exports. Still, he described the surplus as structural and said it can't be narrowed ``effectively'' in the short term.
``This clearly highlights that measures taken so far by China haven't borne fruit,'' said Tim Condon, an economist at ING Bank NV in Singapore.
Import Tariffs
The country last year reduced incentives for overseas shipments of steel and textiles. China is planning to cut some import tariffs and export rebates, Fu Ziying, assistant minister of commerce, said last month.
China's export boom has driven its foreign-currency reserves to a record $1 trillion, a fifth of the world's total.
A ``rigid'' exchange-rate regime and trade surpluses are flooding the banking system with money, raising the risk of excess lending and bad loans, Paulson said in a speech in Shanghai on March 8.
Cash from exports may spur the construction of too many factories, leaving the economy vulnerable to a slowdown in demand. China last year began to shut inefficient plants and curb investment within 11 industries including steel, coal, cement and aluminium, Premier Wen Jiabao said.
Asset Bubbles
Accelerating inflation and asset bubbles also concern the government. The nation's stocks reached record highs this year and also fell the most in a decade. Consumer prices rose more quickly in December and January than in the previous 20 months.
``Greater flexibility in the exchange rate is useful in managing the overall economy,'' said Tao Dong, chief Asia economist at Credit Suisse Group in Hong Kong. ``The lack of it can cause overheating.''
The World Bank has said China needs a stronger currency to rebalance an economy that expanded by 10.7 percent last year, the fastest pace since 1995.
The central bank on Feb. 16 ordered banks to set aside more money as reserves for the fifth time in eight months. The central bank raised the key lending rate in April and August last year, each time by 0.27 percentage point. The benchmark is 6.12 percent.
``China will continue to use a mix of open-market operations, statutory reserve requirements and interest rates to soak up excess liquidity in the financial markets,'' the central bank's Zhou said today.
China's trade surpluses are usually biggest in the fourth quarter, when retailers around the world stock up on electronics, toys and clothes ahead of Christmas, and smallest in the first three months. The country's record monthly surplus was $23.8 billion in October.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_X3LYlMA0KA&refer=home
X401 - Juniors
You seem to have a great handle on some of my favorite juniors. Would you mind sharing others you like? I need something to read this weekend. What about ADA.V, any thoughts?
Thanks!
Kipp
Don Coxe on Commodities
Friday Call:
http://events.startcast.com/events/199/B0003/#
RNO Earnings???
This is the 3rd quarter report dated November 9.
http://biz.yahoo.com/iw/061109/0182659.html
I was thinking they would report yesterday. When does anyone think they will report???
Thanks,
Kipp
X401 - Nice post on ROCA
Roca is a great company caught in a horrible winter freeze up. Great buying ops have been had due to all of that sub zero ice/snow and soon to be MUD!
Welcome to our group!
Kipp
Natural Gas Report
http://www.cornerstoneenergy.com/marketnews/mi030907.pdf
Kipp
cl001 - LionOre
I hope they are smart enough to get a huge premium. Not like EuroZinc giving the farm away to Lundin. I sold all of my Lundin when they came out and said they are in acquisition mode. The acquirer usually takes a hit and the acquiree gets a premium. Most of my mining stocks are buyout targets. LionOre is the largest market cap stock I own and is now the largest % of my holdings. I will be surprised if there is not a bidding war for LionOre. Companies like LionOre are on the endangered species list!!!
Kipp
Nuts - This metalhead will miss you! Thanks for the hard work and willingness to share. I have RNO doubled up in PSL5!
THANKS!
Kipp
Nuts - RNO
What is your tech on RNO chart at the moment? I got a few on the open and hold quite a few back at $2.40.
Kipp
CMM.V Now I Know!
http://ca.news.finance.yahoo.com/s/07032007/28/link-finance-news-century-mining-announces-exercise-f...
This is good news!
Kipp
cl001 - Swing Trades
You are a great swing trader no doubt. I have started doing a lot more of it lately. I held a lot of great stocks for over a year, sold all of them and cashed in my chips. Made big bets on Monday that are paying off on Moly and Nickel. I am going to lighten up again soon and go fishing for the summer. I think we have another leg down after the spring season for metals. One never knows but I am getting tired and will enjoy a nice easy summer with my new found riches!
Thanks for all of your insight and great posts!
Good Luck!
Kipp
CMM.V up on old news???
I loaded up in the low $.50's, itchy trigger finger. I wonder if volume and price today are delayed to last week's news?
Anyone have any ideas?
Kipp
Moly Price $28.25 in this quote on 3-2-07, prior to that it was $25-$25.25 from this website:
http://www.estainlesssteel.com/stainless-steel-news.shtml
"The biggest threat to the molybdenum mining industry is ‘price vulnerability,’ which Adanac Molybdenum Corp executive chairman Larry Reaugh warned us in a recent interview. This may help explain why some of the emerging moly mining participants walk on eggshells over the weekly blips on the commodity’s price chart. (The molybdenum price was last trading on March 2nd at $28.25/pound.)"
Kipp
GORO Interview
They are going to make the decision to get the first mine started any day,
http://biz.yahoo.com/seekingalpha/070214/27079_id.html?.v=1
Give Me More Moly!
http://www.theconservativevoice.com/article/23251.html
Blue Pearl and Roca!
Must Read Moly Article
http://www.theconservativevoice.com/article/23235.html#
Moly price is up $3.00/lbs.
Kipp
Must Read Moly Article
http://www.theconservativevoice.com/article/23235.html#
Moly price is up $3.00/lbs.
Kipp
DM.TO Duluth Metals ???????
Anyone do any work on this new issue. They are making big claims and showing drill results. I am not crazy about these early stage companies, like I am near term producers....but....
http://www.duluthmetals.com/index.php?option=com_frontpage&Itemid=1
Cl001 - Nickel Substitution
The only tool the market has to use when commodities run short is price. If nickel goes too short for what is demanded......high price......is the only way to curb excess demand. High price can cause some users to look for alternatives......but......everything comes with a cost. There are substitutions for stainless steele, non of which are very good. I think we may have had base metal prices too low for too long.....what is fair value for a metal that will never rust???
Tom O'Brien on in a few minutes
Interesting take on the markets:
www.tfnn.com
Only takes a minute to register for free and listen to his show.
Also interesting video on home page.
Good Luck!
Kipp
Blue Pearl IR Presentation Last Night in Toronto
http://www.bluepearl.ca/pres_03-07/slide1.htm
Kipp
Listen to Tom O'Brien as another voice.
I read everything posted here and listen to several webcast programs. One voice I listen to that is right more than wrong is Tom O'Brien. He is a gold bug and will be on CNBC at 7:40EST tonight talking about gold.
If you want to hear his radio show today go to:
http://www.tfnn.com
Register your email address and get a password, it's free. Go to the archived radio programs. Find the Feb 5th Tom O'Brien Show and listen to the show from 1:23:40 on. He talks about the markets, the arms, commodities, and he talks to the IBD's Ken Shrieve about follow through rallies.
I am easing my way back into near term producing junior mining companies. I have more cash on hand than normal. I like Blue Pearl BLE.TO, Liberty Mining LBE.V, and Acadian ADA.V.
Good Luck!
Kipp
Listen to Tom O'Brien as another voice.
I read everything posted here and listen to several webcast programs. One voice I listen to that is right more than wrong is Tom O'Brien. He is a gold bug and will be on CNBC at 7:40EST tonight talking about gold.
If you want to hear his radio show today go to:
http://www.tfnn.com
Register your email address and get a password, it's free. Go to the archived radio programs. Find the Feb 5th Tom O'Brien Show and listen to the show from 1:23:40 on. He talks about the markets, the arms, commodities, and he talks to the IBD's Ken Shrieve about follow through rallies.
I am easing my way back into near term producing junior mining companies. I have more cash on hand than normal. I like Blue Pearl BLE.TO and Liberty Mining LBE.V and others that can't be posted here.
Good Luck!
Kipp
cl001 - I see it at Kitco!
cl001 - What was the date on that story? Link? Don't forget ROK.V as well as Blue Pearl!
Kipp
cl001 - Fertilizer Stocks
POT is a potasium miner/producer. It will do well over time, going through a correction like everything else.
SMG on the other hand is a consumer products company. As the price of fertilizer rockets up, so does their cost. They must pass increases on to consumers and we are talking prices double what they were 2 years ago. No thanks!
Look at this presentation on YARA to understand their business:
http://www.yara.com/library/attachments/en/investor_relations/cmd2007/oslo_Bors.pdf
I am going to add YAR.OL on this weakness.
Kipp
Blue Pearl Moly Presentation
This is worth the 23 minutes and 35 slides.
http://www.vcall.com/console/ConsoleFrameset.asp?ID=113531&brand=Vcall&ClickType=&player....
*****If the above link does not work go to the website and click the Feb. 8th presentation:
http://www.bluepearl.ca/s/Home.asp
They are going to recalculate and publish new reserve numbers for all of their mines.
New production coming in 2008/9.
Moly demand and price are strong.
No new mines for at least 4-5 years.
About to report impact of Thompson Mine purchase from independant company. Numbers have never been public.
I think they will be reporting earnings and reserve numbers soon.
Kipp