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ATPG - 941#3 7,000 Barrels Per Day!
42% OF THE SHARES OF ATPG ARE HELD SHORT!
ATP Oil & Gas Corporation (NASDAQ:ATPG - News) today announced first oil production at its Mississippi Canyon 941 #3 well in the deepwater Gulf of Mexico. The initial rate and associated pressures exceeded original expectations and the well established a rate in excess of 7,000 Boe per day. The Mississippi Canyon 941 #3 well is located on the Mirage Field and is the second well brought on production at the Telemark Hub location utilizing the ATP Titan floating drilling and production platform. As per BOEM guidelines with initial production the MC 941#3 will be renamed the MC 941 A-1. When drilled, the A-1 well encountered four Miocene sands totaling 266 feet of pay. The A-1 well is completed at a measured depth of 16,300 feet in two of the discovered sands. Plans are to commingle production from the two completed sands.
ATP operates the deepwater Telemark Hub in approximately 4,000 feet of water with a 100% working interest and holds a 100% ownership in ATP Titan LLC which owns the ATP Titan and associated pipelines and infrastructure.
CDE Presentation
http://www.gowebcasting.com/events/denver-gold-group/2010/09/21/coeur-d-alene-mines-corporation/play/stream/1102
Dennis Wheeler is a strange dude for a CEO, can't wait for them to get him out of there.
The 12% short position will get squeezed in November!
I own some.
Kipp
AUMN - Valuation Question
In round numbers I think this is the math after the PP:
We will have approx 14 million shares out with no new warrents.
Add $75 million to the $40million in the bank for a total of $115 million.
$20/shr x 14 million is $280 million total valuation less $115 million cash is $165 million for properties.
I was fearing $15 price for PP and hoping for $18. $18.50 is fine with me!
Comments?
Kipp
AUMN - PP - What if price is good?
I have been thinking about this tonight after reading all of the posts. 15 entities own 80+ % of the shares, none of them seem like a low pp would be in their interest. There are not many shares available for anyone else to buy. If they really have the assets/prospects listed in the $104 report, they might have attracted Canacord at a higher price??
These are different times and I hope AUMN is proud of their prospects........we shall see.......
I have a $7 average cost so I am holding for longer term.
Good Luck To All!
Kipp
AXU - Solid Drilling Results/Update
Alexco Intersects 10.4 Meters of 44.3 Ounces Per Ton Silver, Expands Onek Zinc-Silver Deposit at Keno Hill
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 10/06/10) - Alexco Resource Corp. (TSX:AXR - News)(AMEX:AXU - News) ("Alexco" or the "Company") is pleased to announce additional results from its 2010 core drilling program at the Keno Hill Silver District in Canada's Yukon Territory. Exploration and infill drilling in the area of the historical Onek underground and open pit mine has identified an upper silver rich zone of mineralization with associated high grade zinc, and locally lead, over significant widths. The 2010 drill program, combined with earlier Alexco work, confirms that high grade zinc-silver mineralization extends at least 400 meters along strike, 220 meters down dip, and remains open to the southwest and down plunge. Importantly, the historical Onek mine area is located approximately 1.5 kilometers northwest of the Bellekeno silver-lead-zinc deposit, and approximately 1 kilometer from the newly completed Bellekeno mill currently being commissioned for commercial silver production in 2010.
Highlights
Complete and partial assay results have been received for 18 of 20 holes drilled in the area of the historical Onek mine, located in the eastern part of the Keno Hill district. Results include the following:
-- DDH K10-265 cut an interval grading: 1,518.6 grams per tonne silver (44.3 ounces per ton), 1.003 grams per tonne gold, 17.93% lead and 3.15% zinc over 10.42 meters from 53.79 to 64.21 meters.-- DDH K10-254 cut an interval grading: 834.4 grams per tonne silver (24.3 ounces per ton), 1.194 grams per tonne gold, 6.68% lead and 21.84% zinc over 7.30 meters from 122.10 to 129.40 meters.-- DDH K10-253 cut an interval grading: 411.5 grams per tonne silver (12.0 ounces per ton), 1.545 grams per tonne gold, 3.11% lead and 21.09% zinc over 5.49 meters from 98.30 to 103.79 meters.-- DDH K10-250 cut an interval grading: 202.1 grams per tonne silver (5.9 ounces per ton), 0.422 grams per tonne gold, 2.05% lead and 27.96% zinc over 8.86 meters from 127.34 to 136.20 meters.-- DDH K10-267 cut an interval grading: 301.1 grams per tonne silver (8.8 ounces per ton), 1.985 grams per tonne gold, 0.28% lead and 34.60% zinc over 2.82 meters from 106.48 to 109.30 meters.-- DDH K10-262 cut an interval grading: 527.8 grams per tonne silver (15.4 ounces per ton), 0.550 grams per tonne gold, 7.03% lead and 13.81% zinc over 2.77 meters from 60.51 to 63.28 meters.-- DDH K10-255 cut an interval grading: 359.0 grams per tonne silver (10.5 ounces per ton), 0.589 grams per tonne gold, 0.41% lead and 20.77% zinc over 1.14 meters from 94.57 to 95.71 meters.
These recent drill results continue to confirm the presence of high-grade zinc-silver-lead and local gold mineralization in the area of the historical Onek mine, which was first drill tested by Alexco in 2007. The 2010 exploration and infill drill program focused mainly on confirming and expanding the upper, more silver-rich mineralization, as defined in the historical Onek resource by the property's former owner, United Keno Hill Mines Limited ("UKHM"). In addition to silver, lead, zinc and gold, the 2010 Onek drilling also encountered significant indium mineralization in multiple drill holes including 8.86 meters grading 472 ppm indium in DDH K10-250 from 127.34 to 136.20 meters.
Onek Drilling, Production and Historical Resource
The 2010 Onek drilling, covering a strike length in excess of 400 meters along the Onek structural zone, has confirmed the upper, silver-rich mineralization within and adjacent to the historical Onek mine where reported past production totaled 93,000 tons averaging 13.77 ounces per ton silver, 5.54% lead and 3.43% zinc. An historical resource estimate for the area encompassing the existing underground workings was calculated by the staff of UKHM in approximately 1997. This historical resource estimate, including proven, probable and inferred mineralization, totals 85,734 tons grading 12.63 ounces per ton silver, 4.71% lead, 16.41% zinc and 0.01 ounces per ton gold. Although believed by Alexco management to be relevant and reliable, this historical resource estimate pre-dates National Instrument 43-101 ("NI 43-101") and is not compliant with NI 43-101 resource categories. Alexco plans to complete an interim NI 43-101 compliant resource estimate from data collected from Onek through October 2010, primarily to rank the deposit as part of an ongoing district-wide strategic development plan. The importance of the Onek deposit is enhanced by its proximity to the newly constructed Bellekeno mill, ease of underground access, and the identification of newly defined areas of the deposit with significant silver credits. Additionally, the extents of the deposit remain open.
A composite table listing those Onek 2010 drill holes having complete and partial assay results is available for review along with a drill hole location map on the Company website at www.alexcoresource.com.
Notes
True widths have not been determined for all the above reported drill intercepts but are believed to be representative of actual drill thicknesses.
The 2010 exploration drill program and sampling protocol has been reviewed, verified and compiled by Alexco's geologic staff under the oversight of Stan Dodd, Vice President, Exploration for Alexco and a Qualified Person as defined by NI 43-101. A rigorous quality control and quality assurance protocol is used on the project, including blank, duplicate and standard reference samples in each batch of 20 samples that were delivered to the lab. All drill core samples were shipped to Agat Labs at Whitehorse, Yukon Territory for preparation, with fire assay and multi-element ICP analyses done at Agat Labs facility at Mississauga, Ontario. The scientific and technical information about Alexco's mineral projects contained in this news release has also been reviewed and verified by Mr. Dodd.
Continued 2010 District Exploration
Alexco is actively expanding exploration work at Keno Hill, recently adding two more drills (one diamond drill, one reverse circulation drill) to bring the total exploration drilling operation to seven drills, including one underground drill. Initial follow-up drill programs have been completed at the historical Lucky Queen and Silver King mines, as well as the Onek mine. Core drilling is currently underway near the historical Galkeno and Bermingham mines on Galena Hill, and at the Flame & Moth prospect immediately adjacent to the new Bellekeno mill. Additional surface core drilling is also underway in the vicinity of the Bellekeno deposit, and is planned for the Elsa/Husky areas later this year. In addition to the core drilling program, a reverse circulation drill is currently drilling in the McQuesten Valley mainly to capture stratigraphic information. The Keno Hill exploration program is currently projected to continue in to the winter, and a decision will be made in November or December regarding the number of drills to be retained for continuing winter-spring operations in 2011.
Keno Hill Silver District History
Between 1921 and 1988, the Keno Hill Silver District produced more than 217 million ounces of silver with average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government's Minfile database). The historical production grades would rank Keno Hill in the top 3% by grade of today's global silver producers. The Keno Hill district is the second-largest historical silver producer in Canada.
About Alexco
Alexco's business is to unlock value and manage risk at mature, closed or abandoned mine sites through integration and implementation of the Company's core competencies which include management of environmental services, execution of mine reclamation and closure operations and if appropriate, rejuvenation of exploration and development of new mining opportunities.
bbotcs - ATPG
Need $100 oil and the problems for ATPG get a lot smaller. It is a high risk deal for sure! I didn't bet the farm but if they can get past the immediate hurdles it could be a multi bagger in a year or 2.
Kipp
cl001 - AUMN Adam Graf?
cl001,
First I want to thank you for finding AUMN! I bought a ton on November 21st of last year. I sold some on the initial run up to the mid teens and held about 60% and road those shares through the dissapointing IPO......Thank Goodness!
Anyway, do you have a link to the report by Adam Graf. I tried to Google for it but came up empty. I am very interested in the remaining properties.
This could be a zip code changer for me!
Thanks Again,
Kipp
A Big Piece Falls Into Place for ATP
http://www.fool.com/investing/general/2010/09/29/a-big-piece-falls-into-place-for-atp.aspx
Toby Shute
September 29, 2010
On April 15, I was happy to report that Mr. Market had taken a shine to my top stock pick for 2010, ATP Oil & Gas (Nasdaq: ATPG). I concluded by noting that "plenty of risks remain." Alas, the fiery destruction of Transocean's (NYSE: RIG) Deepwater Horizon rig wasn't one I'd considered. Now, the disaster at BP's (NYSE: BP) Macondo prospect has thrown yet another wrench in ATP's plans.
Compared to the damage inflicted by the financial crisis, the impact of the Federal deepwater drilling moratorium on ATP has actually been relatively minor. Yes, some wells have been delayed. The second well at the new Telemark hub, Mirage No. 3, is slated to begin production any day now, but the next two wells have been pushed to 2011. ATP has lowered its 2010 exit rate of production to 30,000 to 40,000 barrels of oil equivalent per day, down from 48,000.
None of this has threatened the firm's financial position, however. On the second-quarter conference call, ATP's CFO stated, "For the remainder of this year, I think with the cash on hand and estimated production, we will be able to meet all of our expenditures, both those on the books today and those to be incurred." That phrasing actually left a lot to be desired, but a recent transaction has lifted any concerns I might have had about a 2010 cash crunch.
On Monday, ATP announced the monetization of the ATP Titan, the floating production facility at the Telemark hub. In my initial write-up, I noted that this behemoth cost more than $600 million, and that ATP should be able to raise around $300 million by selling a 50% interest in the platform, like the company did with General Electric (NYSE: GE) and the ATP Innovator.
Instead, ATP took a different path, placing the Titan into a subsidiary whose debt isn't guaranteed by ATP. The 100%-owned subsidiary has negotiated a credit facility with $150 million funded at closing, and another $200 million available with commencement of additional Telemark wells. The $350 million facility bears interest at a minimum of 8.75%.
The inability to monetize the Titan was one of the key risks I identified in my recommendation of this stock, so this is a major milestone. ATP is not on easy street, since it still has to bring a series of high-impact wells into production. The firm also has to navigate a new sea of regulations, the final form of which has yet to take shape. If the folks at ATP are up to the task -- and unlike Plains Exploration & Production (NYSE: PXP), which is fleeing the Gulf, I suspect they are -- shareholders may bag a double from here in the next 12 months.
This can only mean higher gold and silver prices
U.S. Dollar Is `One Step Nearer' to Crisis as Debt Level Climbs, Yu Says
By Shamim Adam and David Yong - Sep 28, 2010 The U.S. dollar is “one step nearer” to a crisis as debt levels in the world’s largest economy increase, said Yu Yongding, a former adviser to China’s central bank.
Any appreciation of the dollar is “really temporary” and a devaluation of the currency is inevitable as U.S. debt rises, Yu said in a speech in Singapore today.
“Such a huge amount of debt is terrible,” Yu said. “The situation will be worsening day by day. I think we are one step nearer to a U.S.-dollar crisis.”
Yu also said China is worried about the safety of its foreign-exchange reserves including those invested in U.S. Treasuries as the U.S. currency weakens, reiterating his earlier views on the dollar assets. The U.S. will record a $1.3 trillion budget deficit for the fiscal year ending Sept. 30, the Congressional Budget Office said Aug. 19.
The estimated budget deficit for this fiscal year would be equivalent to 9.1 percent of gross domestic product, the CBO said. That would make it the second-largest shortfall in 65 years, exceeded only by the 9.9 percent in 2009.
The CBO also projected the U.S. would have a cumulative deficit of $6.27 trillion in the next decade, higher than its March estimate of $5.99 trillion.
Reduced U.S. Holdings
China, the biggest foreign investor in U.S. government bonds, cut its holdings by about 10 percent to $846.7 billion in the 12 months ended July, according to the Treasury Department.
U.S. Treasuries fail to provide safety or liquidity in managing China’s $2.45 trillion foreign-exchange reserves, Yu said in an e-mail in August. To help cool demand for the securities, China needs to curb the growth of its foreign reserves by intervening less in the currency market, he said.
China should reduce its holdings of U.S.-dollar assets to diversify risks of “sharp depreciation,” Yu said in July. The nation should convert some holdings in U.S. dollars into assets denominated in other currencies, commodities and direct investments overseas, he wrote in a commentary in the China Securities Journal.
The increased convertibility of the yuan will ease pressure on the currency to appreciate, Yu said today at an event organized by Singapore Management University.
The yuan has strengthened almost 2 percent against the dollar since June 19, when China’s central bank said it will pursue a more flexible exchange rate. China maintained a peg of 6.83 yuan per dollar from July 2008 to June 2010.
Yuan Level
China will independently determine the level of the yuan and the U.S. doesn’t need to vote on the issue this week, Vice Commerce Minister Chen Jian said in Taipei yesterday.
The U.S. House of Representatives is due to vote tomorrow on legislation pressing China to raise the currency’s value amid assertions the yuan is undervalued and gives the Asian nation a trade advantage. The legislation would let companies petition for higher duties on Chinese imports.
“The basic trend is for an appreciation” of the yuan, Yu said in an interview after his speech today. “No one can predict the specific pace of the appreciation. This is difficult to say as it depends on circumstances. We should not be speculators.”
To contact the reporter on this story: Shamim Adam in Singapore sadam2@bloomberg.net; David Yong in Singapore at dyong@bloomberg.net.
To contact the editor responsible for this story: Chris Anstey at canstey@bloomberg.net.
MTO.V - cl001 - Where do you stand on Metanor?
The latest ATP Presentation
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Mzk2MjA5fENoaWxkSUQ9NDAyMDcyfFR5cGU9MQ==&t=1
Here is the latest presentation. They are banking on the early lift of the ban and so am I. The gulf coast economy, US oil supply, and political backlash from importing all of our oil will carry the day.
If these guys perform, and oil prices stay in this range or higher, the stock should be worth a lot more in 1, 2, 3 years and beyond.
Kipp
ATPG News
http://finance.yahoo.com/news/ATP-Monetizes-ATP-Titan-with-bw-1351902143.html?x=0&.v=1
I know most of you are out of ATPG as are most of the folks that wanted to sell. I think it deserves another look through a post BP lens. Deep water drilling is not going away and will be a lot safer due to the BP spill.
Kipp
BonTerra - Drilling next to Metanor property
BTR.V
These guys came up on a Google News search for Metanor. They are drilling next to Metanor at Barry. Could be interesting once we see Metanor 43-101.
BonTerra Resources Inc.: 2010 Drilling Commences on the Urban-Barry Township Property
Posted on: Wed, 15 Sep 2010 03:01:00 EDT
Symbols: BTR, BONXF
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VANCOUVER, BRITISH COLUMBIA, Sep 15, 2010 (Marketwire via COMTEX) --
BonTerra Resources Inc. (TSX VENTURE: BTR | PowerRating) (the "Company", "Bonterra") announces it has commenced drilling operations and have retained AlXtreme Drilling of Val d'Or, Quebec. AlXtreme Drilling is conducting the 2010 drill program on the company's Urban-Barry Township Property.
Drilling will focus on various targets on the property. These include: magnetic anomalies which cross the property from the NE-SW, geological contacts (especially where they coincide with magnetic anomalies), NE-SW trending fault zones as well as NE-SW striking mineralized quartz-carbonate veins with sulphide mineralization discovered by a recent prospecting program on the property.
Geological Inc. of Val d'Or, Quebec will be responsible for overseeing the drill program on behalf of the Company. Since 1985, Geologica Inc., a diverse mining exploration consulting company has worked on over 500 exploration projects to date.
BonTerra Resources geologists believe that the magnetic anomaly that runs through the Urban-Barry property is parallel to the known gold bearing structure to the north. This northern structure runs from Eagle Hill Exploration Corp.'s Windfall Lake property (33 metres at 19 g/t as well as a 1,400 metre underground decline) in the northeast to Metanor Resource Inc.'s non NI 43-101 compliant Barry Deposit (269,000 tonnes at 4.10 ppm gold indicated & 450,000 tonnes at 4.68 ppm gold inferred in zones 43 and 45 and in the main zone) in the southwest.
Company President, Mitchell Adam states, "We look forward to receiving our assays back from our sample program and initiating the drill program. So far all the work done to date by North American Exploration, Geologica Inc and our team appears to be setting up the company for a very successful drill program."
The 100% owned property is located approximately 170 km NE of Val-d'Or and 125 km SW of Chibougamau in the Urban township in James Bay, Quebec Neighboring Companies in the region are Amesco, Beafield, BonTerra, Eagle Hill, Glen Eagle, Metanor, and Urbana.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Thomas Clarke, Pr.Sci.Nat. a qualified person.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
MTO.TO Metanor - Any News
MTO is running out of time to make good on the promise to release the 43-101 the week of September 15th. Anyone hear anything?
This is the August 24th press release:
Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO - News) is pleased to announce that the Company has received the confirmation from its consultants that it will be able to disseminate the results of the NI 43-101 resource calculation on the Barry property during the week of September 15,2010.
Compilation of more than 500 drill holes and 3.5 km of channel sampling totaling more than 40,000 analytical results, took several months of work. These drill holes and channel samples permitted the investigation of this deformation corridor with a width of 125 to 140 meters over a distance of 1 km in length and up to a vertical depth of up to 400 m in places. This large gold bearing zone is still open in all directions.
Metanor Resources Inc. would like to thank all of its shareholders for their confidence and their patience during this waiting period.
Mr. Andre Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.
133,595,947 outstanding shares
AUMN September Presentation
This is worth a look if you are in AUMN or thinking about it. Low float of tradable shares, low market cap considering properties, no debt.
http://www.goldenminerals.com/pdfs/Golden_Minerals-Rodman-Renshaw-Presentation-9-2010.pdf
How Much Is Left? Watch the videos on this link
http://www.scientificamerican.com/article.cfm?id=interactive-how-much-is-left
Catching up to AXU - Alexco
http://www.alexcoresource.com/i/pdf/AXR-Overview.pdf
Looking at this presentation there should be this amount of contained metal per year:
18,480,000 pounds of Lead contained in the concentrate.
10,164,000 pounds of Zinc contained in concentrate.
2,400,000 ounces of silver contained in concentrate.
They will have to pay a treatment charge to a smelter to get the concentrates converted to metal. These charges are low, but I have lost track of the exact cost. If I discount theses 10% from today's metal prices it looks like this:
Lead - 18,480,000 x $1.00 = $18,480,000 x .9 = $16,632,000
Zinc - 10,164,000 x $.96 = $9,559,242 x .9 = $8,690,220
Silver - 2,400,000 ounces - 25% 600,000ozs to Silver Wheaton @ $3.90 = $2,340,000
1,800,000 oz x $20/oz = $36,000,000 x .9 = $32,400,000
1 year revenue is approx: $57,722,000
53,100,000 shares issued.
They have 400 tpd capacity and only show 250 tpd utilization. I can see the posibility of ramping up from near by deposits.
The kicker is the possibility of finding a 100 million oz silver deposit on the property. This would also have a bunch of lead and zinc withit.
I like the odds here.
Kipp
POE 60%- Remember Carnarvon Owns 40% ???
I bought some Carnarvon after looking at their presentation from last week. They also go into great detail about the new field in the Thailand update. Hopefully we are early to recognize the "game changer" before everyone else figures this out.
Website: http://www.carnarvon.com.au/
Presentation:
http://www.carnarvon.com.au/docs/Good%20Oil%202010%20Draft5%20-%20com2.pdf
Thailand Update:
http://www.carnarvon.com.au/docs/Thailand%20Operations%20Update%200809101.pdf
Good Luck,
Kipp
NEW AUMN Presentation
http://www.goldenminerals.com/present_may2010_NY.php
Here is a link to the presentation Golden Minerals will be giving at the Haed Asset Show in New York next week.
Kipp
AEZ - Results on Ron Viall 1-25H are due out in 2 to 4 weeks. They are fracing this well 30 times. BEXP has wells close to the Ron Viall that are producing 3,400 and 3,800bopd using the same fracing methid. It is all about the freaking fracing!!!!
American Oil & Gas Inc. Updates Bakken And Three Forks Goliath Project
Tong Trust 1-20h Well Produced 1,421 Barrels Of Oil Equivalent During An Early 24 Hour Flow Back Period
DENVER, March 23, 2010 - American Oil & Gas Inc. (NYSE AMEX:AEZ) announces that the Tong Trust 1-20H well, located in T157N-R96W, Section 20, produced 1,421 barrels of oil equivalent (1,114 barrels of oil and 1.84 MMcf of natural gas) from the Bakken formation during an early 24 hour flow back period. The Bakken formation was fracture stimulated with 25 stages. The Tong Trust well was drilled, completed and funded under the terms of a previously announced participation agreement. American was carried for 30% of its original 90% working interest and owns a 27.1% working interest and 21.6% net revenue interest in the well.
Pat O'Brien, CEO of American commented, "We are extremely pleased with the initial production results from the Tong Trust well, our first horizontal Bakken well on our Goliath acreage to be completed with a multi-stage fracture stimulation procedure. Although we plan to continue with our Goliath program, drilling a minimum of seven to nine gross (five to seven net) wells this year, we are preparing for and may elect to expand the drilling program."
In other Bakken activity, American's Ron Viall 1-25H well located in T156N-R98W Sections 24 and 25 in Williams County, ND, has been successfully drilled. A 9,223' horizontal lateral was drilled in the targeted Bakken formation. The casing and the associated completion assembly have been run which will facilitate up to 30 fracture stimulation stages. Completion operations are expected to commence in mid to late April. American owns a 95% working interest in this well. The Nabors rig that drilled the Ron Viall well is being moved to drill one well for another operator, and will then return to the Goliath project to begin a continuous drilling program for American.
Drilling operations continue in the outside operated Heidi 1-4H well, where American owns an approximate 6% working interest. The well is located on the western edge of the Goliath project area in T156N-R99W, Section 4. Completion results from this well are currently expected in late April or early May.
Outside of the core Goliath project area, American commenced drilling the Summerfield 15-15H well in T147n-R96w, Section 15, Dunn County, ND. The Summerfield well is spaced on 640 acres and is designed and permitted as a horizontal Bakken well. A 15 stage fracture stimulation is planned. The well is an offset to two producing Bakken wells that had average daily production for the initial 30 day production period of 450 to 550 barrels of oil equivalent. As previously announced, American has committed to retain the rig used to drill the Summerfield well for at least two additional wells within its core Goliath project acreage after drilling the Summerfield well.
American Oil & Gas Inc. is an independent oil and natural gas company engaged in exploration, development and production of hydrocarbon reserves primarily in the Rocky Mountain region. Additional information about American Oil & Gas Inc. is available via the Company's website at www.americanog.com.
AEZ - Presentation
AEZ is also right in there with BEXP. Go to this link and look at the Jan presentation. There are really good maps and graphics to show the potential.
http://www.b2i.us/profiles/investor/fullpage.asp?f=1&BzID=992&to=cp&Nav=0&LangID=1&s=0&ID=2572
Good Luck!
Kipp
AEZ Sale Pays Off Debt!
American Receives $46.2 Million From Sale of Powder River Basin, WY Assets
DENVER, CO April 1, 2010 — American Oil & Gas Inc. (NYSE-AMEX: AEZ) announced today that American has received $46,181,289 in sales proceeds from the sale of all of its ownership in non-producing wells, producing wells and undeveloped acreage located in the Powder River Basin of Wyoming. The sale includes all of American's ownership in the Fetter and Krejci projects. American expects to pay less than $500,000 in income taxes, after offsetting the taxable gain on sale with net operating loss carry-forwards from prior years.
Pat O'Brien, CEO of American, commented, "We are pleased to announce the closing of this sale which now enables us to focus our financial and human resources primarily on the development of the Bakken and Three Forks formations within our Goliath project area. We are commencing a two rig drilling program at Goliath, and we are preparing for a possible expansion of the program."
American Oil & Gas Inc. is an independent oil and natural gas company engaged in exploration, development and production of hydrocarbon reserves primarily in the Rocky Mountain region. Additional information about American Oil & Gas, Inc. can be found at the Company's website: http://www.americanog.com.
O/T Zen
We tax paying Americans are all in the same boat. I too am sorry to rant here and will not post any more off topic comments on this board.
I wish everyone here the best of luck as we try to survive this mess!
Kipp
Obama crew going after pension fund cash!
The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system…
Direct investments may allow funds such as those in Oregon, New Jersey and California to cut fees for private-equity managers, and the agency to get better prices for distressed assets, the people said. They declined to be identified because talks with regulators are confidential…
Oregon’s retirement fund may contribute $100 million as regulators seek “the support of state pension funds to solve the crisis surrounding ongoing bank failures”… New Jersey’s fund may also participate…
The FDIC shuttered 140 lenders last year and expects the tally may be higher in 2010… Pension funds, whose 100 largest members manage $2.4 trillion, could provide capital to acquire deposits and outstanding loans from collapsed banks…
Investing in distressed banks doesn’t always pay off, as the U.S. Treasury Department learned with the Troubled Asset Relief Program. At least 60 lenders skipped some of their promised dividends to the TARP fund…
…The California Public Employees’ Retirement System, the largest U.S. public pension fund, said in a Feb. 16 presentation that one of its goals is to increase its “co-investments” in transactions alongside money managers…
Known as Calpers, the pension fund plans to “explore unique structures with select general partners”…" (Emphasis added.)
“Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash”
Dakin Campbell, Bloomberg BusinessWeek, 3/8/10
“Alfredo Ley, founder of Ley Investor B.V., an investment management and research firm in the Netherlands, yesterday published a fascinating review of a 1989 academic paper written by the great rationalizer of surreptitious government intervention in the gold market, former Harvard professor and former U.S. Treasury Secretary Lawrence H. Summers, now director of President Obama's National Economic Council…
Ley's review of that paper, headlined "From the Horse's Mouth: Lawrence Summers on Market Manipulation in Times of Crisis," construes the paper as an argument for government to respond to financial crises by propping up asset prices and rigging currency exchange rates, presumably also largely surreptitiously…”
“More advocacy by Obama's top economist for sneaky market rigging”
The GATA Dispatch, 3/27/10
Zen - Only In America!
My Dad's parents were tenant farmers in Livingston County IL. They worked through the depression and WWII and managed to buy 40 acres of land. My Mom's folks lived 14 miles down the road and manged to buy 200 acres. They breathed plenty of grain dust and chemicals and they worked their way up from dirt poor.
My Dad was the first person in the immediate family to ever complete college at IL. He started his career as a feed salesman in cenral IL. He went to work for a wood paneling company, selling their by-products. He quit that job and started his own agricultural commodity marketing company, learned to fly his own plane, and flew around the midwest selling barges and railcars of feed and fertilizer products. He invested in oil/gas drilling programs, got in the ethanol business, and then micronutrient zinc for the animal feed and fertilizer markets. From dirt poor son of tenant farmers, to successful American Entrepreneur!
I have 2 brothers and Dad let us stay home until the summer we turned 15, then we had to find somewhere to work away from home for the entire summer. My older brother went to a farm in Southern CO, then 12 years as a Coast Guard aviator, he is now a Delta Airlines Captain flying overseas routes. My twin brother pounded nails in Alaska and then went commercial fishing in Kodiak, he went into new home sales and road that horse until it died out from under him 2 years ago.
I went to Kodiak, AK and worked on a charter boat for 2 years, then 6 years of commercial Halibut and Salmon fishing. I never crab fished because I decided to go to college and not risk my life in the Bering Sea. (Watch a few episodes of Deadliest Catch on the Discvovery Channel) I completed college and got in the family business. We built a new facility in Wyoming and lost $950,000 the first year. I had to borrow $58,000 from my home equity or face being diluted. We were successful in the following years and sold the business in 1999. I worked for the Corporation that bought the company for 3 years, they spun it off and now we are private again. I manage the sales and marketing and we have taken the company from $16 million to over $60 million in feed and fertilizer sales. We provide 65 people with good jobs, health benefits (HSA accounts, and a 401k. We compete with Chinese labor and their distorted currency and export subsidies. The Chinese have millions of people cleaning chemical tanks every day, they could only dream of working at my plant for what we reward our employees with.
I invest in stocks with my fellow VMC'ers with part of the money I have earned. I "donate" over 60% of my annual income to various local, municipal, county, state, and federal agencies. Some of that money finds it's way to the poor, under-employed, jobless, under nurished, abused, and down-trodden around the world. My comments were made based on the manipulation that is going on thanks to governments, financial institutions, politicians, reserve banks, etc., etc. I think most individual stock market investors feel the same way!
I am not going to be guilt tripped by you or any other person for what I have, all of it has been made possible by a system designed to reward competition. Capitalism works, the current blend of socially engineered economics, public/private partnerships will fail. The entitlements, and something for nothing policies being put forth have already bankrupted the nation. The current system is unsustainable, and we are broke as a nation.
For those of us who have worked our asses off all of our lives and lived the American dream, keeping our wealth has been extremely challenging/frustrating.
Yours Truly,
Arrogant Greedy Capitalist American Dreaming Putz
AUMN - Hard Assets Show Presentation
http://www.hardassetsny.com/Pages/CompanyPresentations.aspx
At least Golden Minerals will have to show the world something on May 11th. The way they handled the IPO was awful! I wish they would give us something.....anything......ahhrrrggggg!
A lot of the VMC favorites are also presenting:
Alexco Resources
Aura Minerals
Eastmain Resources Inc.
Empire Mining Corp
Esperanza Silver Corp
EverBank
Exeter Resource Corp
Farallon Resources Ltd.
First Majestic Silver Corp.
Fortuna Silver Mines
Golden Dory Resources Corporation
Golden Minerals Company
Great Basin Gold
Grizzly Discoveries, Inc.
Heatherdale Resources Ltd.
Kimber Resources Inc.
Kodiak Exploration Limited
Midway Gold Corp.
Noront Resources
NovaGold Resources, Inc.
Orex Minerals Inc.
PC Gold, Inc.
Radius Gold, Inc.
Randgold Resources
Rio Novo Gold
Tintina Gold Resources, Inc.
Trelawney Mining & Exploration
TVI Pacific Inc.
Virginia Mines
AEZ - My best stock of the past year!
I am trying to decide if I should sell my cheap shares right around $7.00. I posted this stock on November 30th at $2.99/shr and now it is $6.90. They have big potential upside left to go if they hit a couple more wells in the Bakken. I bought a bunch under $2 bucks and even though all kinds of new research is out with targets at $8/shr I am probably going to part with some ahead of the next drilling results.
On a side note, I got a research report that showed sales tax recieps from 46 states and they were all way below a year ago. If we are having a recovery in the U.S. that is causing GDP to be reported up 5.6%......shouldn't sales tax reciepts be going up???? I am also confused by the currency markets and the fact that the Euro and Pound are in trouble. The USD seems to be "the tallest midget" in fiat currency these days. It also gives pause to see bond prices going down and interest rates up. If people bail on bonds.....do they put their money in stocks.....or gold....or oil.....or what???????? CASH??????
What a hard market to try and figure out, sometimes it would be easier to have no money.....pay check to pay check would make it a lot easier........just spend all your time trying to keep that pay check coming in!
Sorry for the ramble!
Good luck to all here and in VMC land!
Kipp
TMB.TO - Tax Numbers
Income Tax Position
Hidden asset - not on balance sheet
Maintained significant tax attributes despite impact of recapitalization
Can shelter $2.3 billion of taxable income or equivalent value of approximately $658M
Breakdown of tax attributes:
Non-capital losses of $1,052M – 2029 expiry
R&D pool of $362M – no expiry
UCC pool of $673M – no expiry
TMB.TO - TEMBEC Presentation
http://www.tembec.com/public/Investisseurs/Presentations/presentationParagraphs/0/presentationFile_en/AGM%20-%20January%2028,%202010.pdf
I looked at this 60 day old (Pre Earthquake) presentation over the weekend. I'm not sure if anyone discussed the loss carry forward yet or not, it is discussed in the presentation, along with all of the drastic layoffs, plant closures, reduction in SG&A, etc, etc. Any upside will go right to the bottom line as they are running mean and lean. The more I look at this stock the more I like my holdiong it for a while. Thanks cl001 for another diamond in the rough!
Kipp
http://www.tembec.com/public/Investisseurs/Presentations/presentationParagraphs/0/presentationFile_en/AGM%20-%20January%2028,%202010.pdf
AEZ - Tong Trust Well...Company Maker!
AEZ is now a player in the BAKKEN with a bunch of land!!! They are going to expand their drilling program and get aggresive now that they know how to frac the wells.
http://finance.yahoo.com/news/American-Oil-Gas-Inc-Updates-iw-542900053.html?x=0
DENVER, CO--(Marketwire - 03/23/10) - American Oil & Gas Inc. (AMEX:AEZ - News) announces that the Tong Trust 1-20H well, located in T157N-R96W, Section 20, produced 1,421 barrels of oil equivalent (1,114 barrels of oil and 1.84 MMcf of natural gas) from the Bakken formation during an early 24 hour flow back period. The Bakken formation was fracture stimulated with 25 stages. The Tong Trust well was drilled, completed and funded under the terms of a previously announced participation agreement. American was carried for 30% of its original 90% working interest and owns a 27.1% working interest and 21.6% net revenue interest in the well.
Pat O'Brien, CEO of American, commented, "We are extremely pleased with the initial production results from the Tong Trust well, our first horizontal Bakken well on our Goliath acreage to be completed with a multi-stage fracture stimulation procedure. Although we plan to continue with our Goliath program, drilling a minimum of seven to nine gross (five to seven net) wells this year, we are preparing for and may elect to expand the drilling program."
In other Bakken activity, American's Ron Viall 1-25H well located in T156N-R98W Sections 24 and 25 in Williams County, ND, has been successfully drilled. A 9,223 foot horizontal lateral was drilled in the targeted Bakken formation. The casing and the associated completion assembly have been run which will facilitate up to 30 fracture stimulation stages. Completion operations are expected to commence in mid to late April. American owns a 95% working interest in this well. The Nabors rig that drilled the Ron Viall well is being moved to drill one well for another operator, and will then return to the Goliath project to begin a continuous drilling program for American.
Drilling operations continue in the outside operated Heidi 1-4H well, where American owns an approximate 6% working interest. The well is located on the western edge of the Goliath project area in T156N-R99W, Section 4. Completion results from this well are currently expected in late April or early May.
Outside of the core Goliath project area, American commenced drilling the Summerfield 15-15H well in T147n-R96w, Section 15, Dunn County, ND. The Summerfield well is spaced on 640 acres and is designed and permitted as a horizontal Bakken well. A 15 stage fracture stimulation is planned. The well is an offset to two producing Bakken wells that had average daily production for the initial 30 day production period of 450 to 550 barrels of oil equivalent. As previously announced, American has committed to retain the rig used to drill the Summerfield well for at least two additional wells within its core Goliath project acreage after drilling the Summerfield well.
Dittos Bob!
Bobwins - CMM.V 38 bagger off the low!
I remember you and I owned this stock several years ago and were frustrated as heck with it. I wish I would have noticed it at the $.01 price and taken a flyer!!
Margaret Kent back from the dead on Bonanza grade drill results.
http://finance.yahoo.com/echarts?s=CMM.V#chart3:symbol=cmm.v;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on
Century Intersects 100.5 g/t Au Over 1.69 Meters in Bedard Dyke at Lamaque Gold Mine
http://finance.yahoo.com/news/Century-Intersects-1005-gt-Au-ccn-3519755030.html?x=0&.v=1
Kipp
cl001 - I am sitting with low ball stink bids in waiting. I did get another 1000 at $10.25 the other day. Did you see the road show coming up? It will be nice to get out of the quiet period and get the word out!
Thanks,
Kipp
GDMN - Calendar Of Events
It looks like a plan is in place to go on the road and talk up the company:
http://www.goldenminerals.com/calendar.php
Kipp
cl001 - GDMN/AUMN What is the latest?
I was looking for the latest news on the IPO but nothing stands out as final? What do you see?
Thanks,
Kipp
Base Metal Prices and Inventory???
http://www.kitcometals.com/charts/copper_historical_large.html#lmestocks_5years
If you scroll through the base metal prices and inventory charts you will see that LME inventories are steadily building AND prices are rising. This makes me a little nurvous. There is extreme bullishness out there and I'm not so sure a pullback isn't in the cards. A short squeeze on the US Dollar might do it.
Just thinking out loud here and wondering what you all are thinking?
Kipp
Golden Minerals Contact Info
Golden Minerals Company
350 Indiana Street, Suite 800
Golden, Colorado, 80401
U.S.A.
Telephone: (303) 839-5060
(888) 696-2739
Fax: (303) 839-5907
Email: information@goldenminerals.com (for general inquiries)
investor.relations@goldenminerals.com
PEM.V - Premium Exploration Drills 3.81 g/t Gold Over 121 Meters at Friday-Petsite Project
I missed owning this one. Had it on my watch list........uhg.
http://finance.yahoo.com/news/Premium-Exploration-Drills-ccn-2976977260.html?x=0&.v=1
Kipp
cl001
What do you mean by this "GDMN just got another 5 million sentient"?
Thanks,
Kipp
The Ant and the Grasshopper
The Ant and Grasshopper - Two Different Morals(Updated)
THE ANT AND THE GRASSHOPPER
This one is a little different... . Two Different Versions.... . .... Two Different Morals
OLD VERSION
The ant works hard in the withering heat all summer long, building his house and laying up supplies for the winter.
The grasshopper thinks the ant is a fool and laughs and dances and plays the summer away..
Come winter, the ant is warm and well fed.
The grasshopper has no food or shelter, so he dies out in the cold.
MORAL OF THE STORY: Be responsible for yourself!
MODERN VERSION
The ant works hard in the withering heat and the rain all summer long, building his house and laying up supplies for the winter.
The grasshopper thinks the ant is a fool and laughs and dances and plays the summer away.
Come winter, the shivering grasshopper calls a press conference and demands to know why the ant should be allowed to be warm and well fed while he is cold and starving.
CBS, NBC , PBS, CNN, and ABC show up to provide pictures of the shivering grasshopper next to a video of the ant in his comfortable home with a table filled with food.
America is stunned by the sharp contrast.
How can this be, that in a country of such wealth, this poor grasshopper is allowed to suffer so?
Kermit the Frog appears on Oprah with the grasshopper and everybody cries when they sing, 'It's Not Easy Being Green.'
ACORN stages a demonstration in front of the ant's house where the news stations film the group singing, “We shall overcome.” Then Rev. Jeremiah Wright has the group kneel down to pray to God for the grasshopper's sake.
President Obama condemns the ant and blames President Bush, President Reagan, Christopher Columbus, and the Pope for the grasshopper's plight.
Nancy Pelosi & Harry Reid exclaim in an interview with Larry King that the ant has gotten rich off the back of the grasshopper, and both call for an immediate tax hike on the ant to make him pay his fair share.
Finally, the EEOC drafts the Economic Equity & Anti-Grasshopper Act retroactive to the beginning of the summer.
The ant is fined for failing to hire a proportionate number of green bugs and, having nothing left to pay his retroactive taxes, his home is confiscated by the Government Green Czar and given to the grasshopper.
The story ends as we see the grasshopper and his free-loading friends finishing up the last bits of the ant’s food while the government house he is in, which, as you recall, just happens to be the ant's old house, crumbles around them because the grasshopper doesn't maintain it.
The ant has disappeared in the snow, never to be seen again.
The grasshopper is found dead in a drug related incident, and the house, now abandoned, is taken over by a gang of spiders who terrorize the ramshackle, once prosperous and once peaceful, neighborhood..
The entire Nation collapses bringing the rest of the free world with it.
MORAL OF THE STORY: Be careful how you vote in 2010.