Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Researcher that "poof" thing happens to me also. I think it comes with age.
Some day PZG is going to fly. I just hope I have not died of old age waiting.
Ari I just picked up 1000 shares of HRBN. Looks like a great long term pick.
Hey I am in 13th place. Thats my lucky number.
From Daily Wealth. Sure glad I have a bunch of TGB etc.
High Energy Prices Are Threatening the World's Copper Supply
By Matt Badiali, editor, S&A Prospector
Just imagine if gasoline cost $20 a gallon.
You'd start by cutting your driving in half. Then you'd almost never go out to restaurants, because food would become so expensive. You'd probably pull the old bike out of the closet. America would scream bloody murder and lynch the CEO of ExxonMobil.
A 400% increase in the price of a precious fuel source sounds outlandish, but that's exactly what's happening in the country that produces more copper by far than its closest competitor.
It's happening in Chile. Only it's not gas, it's electricity.
The price of electricity in Chile has jumped from about 3.5 cents per kilowatt-hour to 35 cents per kilowatt-hour in just three years. That's like gasoline spiking from $2 a gallon in 2005 to $20 a gallon today.
This situation – which has big implications for commodity investors – stems from a deal between Chile and Argentina a few years ago...
In 1995, Chile generated 57% of its electricity from hydroelectric dams, 28% from coal, and the rest from diesel fuel. The government sought ways to diversify its electrical generation. It settled on cheap, clean natural gas piped in from neighboring Argentina. The media hailed the project as a model of national cooperation.
Chile bet big on Argentine natural gas, which quickly came to produce 37% of the country's electricity. The switch lowered energy prices... for about 18 months. Then, like my junior prom date, the relationship went bad in a hurry...
Argentina proved to be a terrible partner. By 2004, it began violating its production contracts. To meet increasing Argentine demand, suppliers cut the gas coming into Chile.
Chilean electrical production shifted to diesel, which effectively tripled the cost. Companies had to bring many of the old diesel generators out of retirement. Where a natural gas turbine costs $50 per megawatt-hour to run, the old diesel turbines cost $250 per megawatt-hour... a 400% increase.
---------- Advertisement ----------
S&A Readers Have Less than 2 Days to claim their Charter Membership to The FDA REPORT – Dr. George Huang's unique trading advisory.
This special offer gives you the opportunity to pay 50% less than everyone else.
But you must claim your discount before midnight, April 28.
Click here to learn more.
-------------------------------------
On top of all that, Chile is in the midst of its worst drought in decades. No water means no hydroelectric power. So the country is even more dependent on diesel than ever before.
This power crisis has rocked the global copper market. Chile produces 40% of the world's copper. That supply is at risk... so naturally, copper prices are going up.
Back in July 2007, analysts at Macquarie and Citigroup projected copper prices around $3.50 per pound in 2008. Credit Suisse analysts bumped up their 2008 price forecast to $3.50 in March. Despite their increased projections, these firms are still underestimating copper's stunning run, as you can see from the chart.
China is the world's biggest consumer of copper. A lot of analysts thought a U.S. recession would put a damper on China's demand, driving down the price of copper. But a stateside downturn only hurts China's exports... Much of the country's copper goes to internal development projects.
The Biggest and Boldest Commodity Prediction Made This Week
The Sleeping Giant in the Commodities Market
When it comes to choosing commodity stocks to buy, I'm not a big fan of relying on predictions. As my good friend Steve Sjuggerud says, the best indicator of tomorrow's price is today's close. In copper's case that's about $3.95 per pound, which is 33% higher than in December 2007.
Shares in copper producers have done well over the past year... But with China's voracious appetite for commodities and Chile paying through the nose to pull its copper out of the ground, I think an investment in this sector is still a terrific way to play the bull market in natural resources.
Good investing,
Matt
"HBM up 10%, any news?"
Thats nice I sold it yesterday. ##@!$%^&*(()(&%#@!@$^&*
Nice move up last few days.
Taseko Gains Mid-Tier Momentum on Gibraltar and Prosperity
By Jane Perry
18 Apr 2008 at 03:07 PM GMT-04:00
VANCOUVER (ResourceInvestor.com) -- Taseko Mines [AMEX:TGB; TSX:TKO] is right on target as it looks to vault itself into a comfortable mid-tier market position with its two-pronged approach to development.
Its flagship project is the Gibraltar Mine, currently a 36,700 tonnes per day copper and molybdenum producer with a long history. Its Prosperity gold/copper porphyry deposit is huge, with proven and probable reserves of half a billion tonnes yielding 4.5 million ounces of gold and 2 billion pounds of copper. Grades are estimated at approximately $20/tonne (at present prices).
Gibraltar
Gibraltar is located on the main highway north of Williams Lake, in south-central British Columbia.
Last year, Gibraltar produced 51.8 million pounds Cu and 580,000 pounds molybdenum, generating revenues of C$217 million. The company is in the middle of a two-phase expansion and modernisation project which will increase annual production of 120 million pounds Cu and 1.5 million pounds Mo with a 55,000 tonnes per day capacity.
The mine’s SX-EW plant underwent a C$3 million refurbishment and produced its first 99.9% cathode copper bars this January.
“The expansion project is scheduled for completion in 2008 - on budget and on schedule,” stated Russell Hallbauer, Taseko’s President and CEO, in a letter to shareholders featured in the company’s 2007 annual report, released April 11, 2008.
The company’s website claims that “this expansion will make Gibraltar the second largest open pit copper mine in Canada,” with Highland Valley Copper being the largest.
Prosperity
Prosperity is located 175 kilometres southwest of Gibraltar. As it stands, it’s the largest undeveloped gold/copper porphyry deposit in North America. In his letter, Hallbauer emphasized the project’s priority: “in particular, we see Prosperity as our most promising project.”
The project is currently in the permitting stage, with an environmental assessment to be submitted at the end of April. The company completed its in-house feasibility study last December.
Valuation
RI first brought you coverage of Taseko in May 2005 (click here to read Ben Abelson’s article) back when it was trading around C$1.30 and copper was in the US$1.70/pound range. Both the metal and the stock have come a long way since then!
With 12 consecutive quarters of positive earnings, Gibraltar provides excellent leverage for financing Prosperity. Although Prosperity has an estimated capital cost of $800 million, debt-financing should be a snap considering the quality of the project.
For example, the company could forward-sell $100 million worth of copper, and probably $100 million worth of gold as security. Taseko would also save around 70% on shipping costs by producing cathode copper instead of having to ship concentrate for further refining.
TKO has a focused asset portfolio with four 100%-owned projects (with no carried interests) in British Columbia. It’s worth noting that the company has an arrangement in which it shares management, technical and financial expertise with Hunter Dickinson, an international mining management company.
Its AMEX listing is also a big plus, enabling American investors to trade its shares without being forced to pay Canadian and American commissions.
Given all this, Brian Bergot, the company’s Manager of Investor Relations told RI that “we expect more and more value to be reflected in the share price.”
This is an interesting investment with very little downside risk and considerable upside potential. The value proposition is further strengthened by the management ability of the Hunter Dickinson group.
Capitalisation stands at 160.7 million shares fully diluted, giving it a market cap of $806.43 million. Cash on hand is $55 million as of December 2007.
I guess it all depends on your perspective. I have no opinion on ST but on NNRI I bought a bunch below a $1 (never heard of ST at the time) awhile back sold it all the way up to over $9.
Never looked back and than bought it again recently at 54 cents. I am willing to wait around for awhile.
It seems like you guys are talking about the sentiment on the China market based on how us Gringos are feeling right now. Everyone thinks China is the future and looking to accumulate on this weakness so really what we are seeing is anything but panic.
What would interest me is to know is what sentiment is like in Shanghai and the rest of China? They will be the ones who make the bottom.
I guess so. I get his weekly E mail and that is what I copied here.
FROM ST
NNRF, Inc released their 2007 year end 10K results this week and it was the first to show fully audited equity accounting so now their report shows the income and profit of ATOLL. In this report we see that in 2007 ATOLL had net revenues of $43,123,001 and a net income of $14,208,205. Some have asked the worth of ATOLL in the past and now one could use the net income as a guide. There are many things that go into determining a company's value but a very common and simple one is to use Price to Earrings PE ratio. The S&P PE ratio average now is about 18 - so if, as an example, we use that we have $14.2 million (Atoll income) times 18 equals a worth of ATOLL (based only on 18 PE) of $255 million. NNRF own 50% so their percentage is then, on this example, worth $127 million. With about 48 million outstanding shares of NNRF this puts the worth per share of NNRI at $2.66 for its ownership of ATOLL. To determine the worth of NNRI you need to consider their other earrings and futures earrings potential, other acquisitions, their assets and their liabilities and all other details. This however gives an idea of what to consider and shows, in my opinion, that the current share price is very undervalued.
From the 10K we see that the assets of NNRF jumped from $1.6 million at the end of 2006 to $11.2 million at the end of 2007. NNRF only owned 13% of ATOLL until Mid March of 2007 when it was increase to 50% so for the year they are showing equity income from ATOLL at $5.6 million. (instead of the $7.1 million it would have been if they had owned 50% for the entire year.) There is still a loss then but much of it is non cash as stock was used in 2007 for funding and much of the loss is a one time event. I am not an accountant but I suppose some of that past loss can can be used against future profits for tax advantages. Please refer to the 10K for all details.
What is now clear from this audited financial report is that NNRF is already a substantial company as ATOLL had gross sales of (estimated over $70 million) and net revenues, as mentioned above, over $43 million. NNRF is in their new offices and the financial director and bookkeepers of ATOLL are also there which makes for better efficiencies and convenient continual communication.
NNRI stock again dropped back to the lower Bollinger band and in all the last times on this chart it has done so in the past, the stock has shortly afterward rallied much higher. The RSI and stochastics also are near their extreme oversold readings. It looks like many short sellers took the advantage of the 2-day low volume rise on Tuesday and Wednesday as the chart formed a little bear flag, and they sold it down the next two days. It has been in this channel many months and of course we look forward to the break out above the top of it at some point.
The MACD still has a strong positive divergence and money flow is above the center line.
Last week NNRF attended a conference "International cooperation for the elimination of nuclear legacy of the atomic fleet of the USSR". This was an international event with high level attendees: Rosatom and Rostechnadzor; representatives from donor countries (Great Britain, Norway, Canada, the European Bank for Reconstruction and Development, etc.); ISTC and the IAEA, the nuclear industry organizations taking part in research and development activities on the subject of ongoing programs. NNRF gave presentations of BIECOM, FEECOM, Bicoflex and Radseal and had good international interest to which the VP of NNRF Peter Goerke commented that he was quite optimistic. This again put NNRF together with some top participants in the field.
Wade what are your favorite China stocks right now?
Interview with Chris Crupi, CEO of Paramount Gold and Silver
Quote:
Struthers - Hello Chris, the last time we met was at the PDAC in
Toronto, a lot has happened since then.
Crupi - Yes, there has been a lot of interest in the company since we
substantially expanded the Clavo 99 discovery at San Miguel and of course
the SEC issue.
Struthers - As you know, I have been quite fond of Paramount's San
Miguel discovery, but right now shareholders are concerned with the
trading halt.
Crupi - of course, it has really consumed a lot of our time here at
the office.
Struthers - It is really quite strange, I had never heard of such a
situation and would like to ask you a number of questions about it.
Crupi - no problem.
Struthers - did the SEC raise any concerns with the company just prior
to the trading halt on March 13th, say the previous 6 months?
Crupi - no, as you know we listed on the AMEX and TSX in 2007 and both
exchanges conducted extensive due diligence prior to listing and so
this was a very big surprise.
Struthers - Before the halt - did the SEC request any additional
information or questions on recent filings?
Crupi - no, however, during the 10 day suspension we had a dialogue
with the SEC and AMEX and as you recall were up and trading on day
11.
Struthers - So you had no idea the stock would be halted?
Crupi - No, as you know the company is three years old and we
moved the listing from the Pink Sheets to the Bulletin Board, then
to AMEX and TSX with no problems.
Struthers - strange - I understand the alleged corporate hijacking
actually occurred before Paramount was incorporated.
Crupi - yes, Paramount was a newly created corporation, and a was later
brought to trade on the OTC Pink Sheets.
Struthers - Without mention of names, I understand you engaged a
Canadian legal firm to incorporate Paramount who in turn engaged a US
securities lawyer to get Paramount listed on the OTC. Were, these
lawyers experienced in such matters?
Crupi - yes, the Canadian legal firm in Vancouver was one of the
recommendations I received because they had previously done several
new public listings on the US OTC and they were in good standing and
had a good track record. I was not aware of who if any other lawyers
were engaged by the Vancouver legal firm.
Struthers - I have been digging into this myself and I did speak with
the Vancouver lawyer and asked him about the US lawyer involved. He
told me the US firm was out of Texas and had a lot of experience with
OTC listing. I heard this lawyer was the former head of the SEC, so I
did some research and found out the US lawyer previously worked for
the SEC and was quite high on the ladder there. I did not confirm if
he was at the top or not.
Crupi - yes, I heard the same thing.
Struthers - One comment he made has really stuck with me, when he said
"does one lawyer hire another lawyer to do due dilgence on another
lawyer"? I understand the problem lies with the US lawyer, is the
SEC still investigating Paramount or this matter?
Crupi - to the best of my knowledge the SEC has moved the Paramount
file back into the regular stream corporate finance. Any other
investigations into individuals involved are unknown.
Struthers - after the SEC allowed trading to resume, why would the DTC
halt it again, especially since they knew of this problem since March
13th?
Crupi - the DTC machinery did not turn the switch on after day 10,
notwithstanding requests by the AMEX.
Struthers - Did the DTC contact Paramount at anytime about these
matters?
Crupi - No, but after almost 3 weeks we heard back from the DTC today and
they have basically requested the same info we provided the SEC and
AMEX.
Struthers - from what I understand, the DTC is simply a clearing house
that settles the daily trading transactions, what business would they
have in Paramount affairs?
Crupi, you are correct, but I think what happened is this issue
prompted their attention and they realized they did not have a lot of
information in their file regarding Paramount, and this is the type of
info they have requested and we are acting on now.
Struthers - are you expecting this to be resolved soon?
Crupi - yes, it is simply a matter of time now
Struthers - as a result of all this, does Paramount require a new
CUSIP number?
Crupi - no, the shares are still DTC eligible and all stock
issued under the current CUSIP is fine so no new CUSIP needed.
Struthers - it looks to me that everything is fine here, something
that happened 3 years ago, just before Paramount came into existence
and it has just been a matter of some more information required from
Bureaucrats that are known not to necessarily work in a timely matter.
Crupi - that is exactly it, all this should be settled once and for all
in the near future.
Struthers - Glad to hear that, in the meantime I know things have not
stopped progressing on the ground, have these SEC/DTC issues resulted
in any less interest in the project from the major mining companies?
Crupi - No - not at all, they really are not too concerned about that.
Struthers - Great, how many majors have expressed an interest in the
project?
Crupi - it is amazing - it seems pretty much all of them, I can't say
who or an exact number, but I can tell you we have signed several
confidentiality agreements with interested parties.
Struthers - Wow! that looks to me that this must be a project that is
up near the top of the majors priority list - what about current drill
program on the project, how is that progressing? how many drills are
working now?
Crupi - We have 3 drills on site with a fourth water well drill rig.
The two core rigs are drilling at the San Miguel Clavo 99 to expand
that significant resource. The RC rig is drilling at Montecristo and
doing wildcat until the core rig can be moved over. The water well
rig will be used to set up new water wells so we can finally dewater
the San Luis Mine and move the 2nd core rig over to drill in the
bonanza gold zone. We expect San Luis to produce some great numbers.
We hope it is our second Clavo discovery in the project.
Struthers - So can we expect some more drill results soon?
Crupi - yes, we have some assays in the lab which will be back in the
next few weeks. The core looks good.
Struthers - I have also heard that a new 43-101 resource estimate is on
its way?
Crupi - yes, we hired a consultant by the name of Danny Sims, Ph.D in
geology. Danny worked for Freeport McMoRan for 11 years at the
world's largest gold mine known, at the Grasberg district in Indonesia.
Danny is heading up the Paramount side of the estimation process. We
expect the report to be complete in June 2008.
Struthers - what is your expectation for this resource estimate?
Crupi - For now I will only comment with a ball park figure of one
million ounce gold equivalent on the low side and two million ounce gold
equivalent to the upside with a majority of that in silver.
Struthers - OK, so we are talking about a two to four times increase
over that last 43-101 estimate. The share price is beaten down because
of these SEC/DTC issues, do you think that would mean a cheaper buy
out price down the road?
Crupi - Ron, you also need to consider the Subprime and ABCP market
blowup in the USA which has greatly impacted liquidity. This has
affected many junior stock prices as investors flee these type
of markets for safer ground. I suggest that these investors will
be back to buy the good deals particularly with significant proven
assets and minable deposits that can be put into production in
the near term.
Furthermore, the indication I have been getting from the majors that
have visited the property is - they don't mind paying what the
project is worth , regardless of what the stock price is - Secondly
with so much interest form many companies, I think if someone tried a
low ball bid, another company would soon up that bid. And third,
remember we have a very strong and sophisticated shareholder base with
many institutional holders, I doubt they would tender their shares to
an inferior offer.
Struthers - I agree with that and thanks Chris for your time to
answer my questions. Hope to see you again and I am looking forward
to the new 43-101 resource estimate.
Hey 10 bagger I bought some last week(DPDW). To me this looks like a long term hold not a trade. I still have my GG (WHT) from 5 years ago with my cost being $3.40 and now trading at $42.00. When I look at this DPDW I see the same kind of potential albeit a totally different business. Is this what you are thinking or is this a trade for you.
GFRE= Anybody else here own GFRE? If so I feel sorry for you but not as sorry as I feel for myself. Any opinions. Normally I bag stocks like this in a downtrend fast but this one seems so cheap?
Just sold my UVE. Owning it was like being tortured.
Mega mergers ahead for mining industry
Fri Apr 11, 2008 6:13pm BST
Market News
RPT-NYSE suspends trading in Journal Register shares
UPDATE 1-Johnson Service plans 82.5 mln stg uniform unit sale
Nigeria Shell facility invaded, 5,000 bpd shut in
More Business & Investing News...
By Ignacio Badal - Analysis
SANTIAGO (Reuters) - With metal prices holding in what many call a super cycle, the global trend toward mergers and acquisitions will continue among miners, according to analysts and executives who attended the CRU/Cesco copper week in Santiago this week.
Small and medium-sized miners, and juniors who are still in the exploration stage, are the easiest targets for bigger companies, but the acquisition wave won't likely stop there, they said.
Mining analysts agree the market will soon see more huge takeover bids announced, like the failed attempt by Brazilian mining giant Vale (VALE5.SA: Quote, Profile, Research) (RIO.N: Quote, Profile, Research) to buy Xstrata (XTA.L: Quote, Profile, Research) for more than $90 billion.
Executives say acquisitions will continue because global copper demand is growing and supplies are tight, so new supply has to be brought on line. The easiest way to do that is to buy existing producers.
Companies will be on the lookout for producing assets and smaller players won't have the same access to financing to bring new output on line.
"(Mining) costs have skyrocketed in recent years, with the subprime crisis and the disappearance of securitized debt markets ... it is increasingly difficult to finance, meaning only the best capitalized players can afford to invest," said Bart Melek, a Toronto-based analyst with BMO Capital Markets.
"We may well be entering an era of super-consolidation. We'll see what pans out during the course of the next two years," Charlie Sartain, the chief executive of Xstrata Copper, told the CRU conference on Thursday.
Words like mergers, acquisitions and takeovers were among the most heard at the CRU and Cesco copper week, where potential buyers and sellers huddled in hallways and hotel lobbies.
"We are looking for acquisitions and mergers," said Owen Hegarty, president of Australian miner Oxiana (OXR.AX: Quote, Profile, Research).
Oxiana is in the middle of a A$6.1 billion (US$5.67 billion) takeover of fellow Australian miner Zinifex (ZFX.AX: Quote, Profile, Research).
Prices for copper hit a record of more than $4 per pound on Thursday, compared with 60 cents a pound five years ago. Prices for other metals, including gold, silver and nickel, are also high.
Experts say prices could stay high for several more years, and high costs will continued to cut into company profits.
"Acquisitions will continue because there is an enormous need for capital for development," said Hugh Callaghan, president of junior miner Tamaya Resources.
Among the big miners that industry sources signal may enter the fray are Southern Copper (SPC.LM: Quote, Profile, Research) (PCU.N: Quote, Profile, Research), a unit of Grupo Mexico (GMEXICOB.MX: Quote, Profile, Research), Chile's Antofagasta Minerals (ANTO.L: Quote, Profile, Research), Mexican silver miner Penoles (PENOLES.MX: Quote, Profile, Research) and Freeport-McMoRan Copper & Gold (FCX.N: Quote, Profile, Research) of the United States.
"I don't think its the best time for acquisitions, because prices are so high," Penoles explorations director David Giles said, adding that his company could nevertheless be looking for potential purchases.
"We're on the lookout for many opportunities," said Xioaling Ren, vice president for marketing for Aluminum Corp of China.
(Editing by Pav Jordan and Walter Bagley)
PEZFF
Read a newsletter about 10 days ago saying PEZFF was his top pick. Put it on my watchlist and now cant remember which newsletter. Anyone familiar with this one and have an opinion? Its been dropping since I read the newsletter.
Any body own ACTS? Profitable Semiconductor company with $2.80 in cash selling for $3.20 a share?
Thank you Catchnrel. I have owned BHP for along time saw it was way up and didnt see that news.
OT Anyone have an idea why BHP is flying today?
How can they put these PRs out without having a native English speaker proof read them. How can anyone take them seriously. My three year old son could write better PRs.
15:05.39 bought 10,000.
I think the 10,000 was me buying.
Hank just picked up 10,000 DPDW. Have any price predictions?
I actually remember 1974. I was a senior in HS and had a real interest in learning about the stock market after my Grandfather got me interested. He was CPA that invested in the market when he had money. He was a runner on Wall Street in around 1930 as a kid so had seen it all.
In 1974 he bought a number of lower priced low PE stocks that went up many times in the proceeding years. One was a Steel Company I think named Athlon and a # of others whos names escape me.
Gramps favorite saying in regards to the stock market was "You pay your money and you take your chances" May he rest in peace (1997)and may he know that I miss him.
Welcome back Eik.
I tried to get a party going here while you were gone but no one was interested. Thought it would be fun to trash the place leave empty bear bottles and trash around. Oh well maybe next time.
This PR looks like it was written by 2create.
How to say nothing in 1000 words or how to say alot in 1000 words that no one can understand.
cloo1 I also picked up more NAK this morning. Looks like it hit an intermediate low along with alot of the other metals. Bought back AUY yesterday and SLW this morning.
Yep still in.
mdavid40
1) What did the BOD member have to say?
2) Are you a stock broker?
3) Why would CNBC be running stories about AURC this week?
PZG
ARI5000
This problem that they are dealing with has nothing to do with there underlying business. It is a filing paperwork problem. As long as they can straighten it out which it sounds like they can than it should have little or no effect on there what I see as very bright long term prospects.
The dividend was suspended yesterday.
(BSNS WIRE) Idearc Executive Tells Investors Underlying Business Fundamentals
Sound
Idearc Executive Tells Investors Underlying Business Fundamentals Sound
PHOENIX--(BUSINESS WIRE)----
Idearc Inc.'s acting chief financial officer, Samuel "Dee" Jones,
presenting at the Credit Suisse 2008 Global Leveraged Finance
Conference in Scottsdale, Az., told investors that the Company's
underlying fundamentals and long-term prospects are unchanged.
"The set of assets that made this business an attractive
investment are still there, still sound and still solid," Mr. Jones
said.
The acting CFO also gave the audience additional detail around
Idearc's revenue guidance that was provided earlier in the year. "Our
view of 2008 is such that we anticipate mid-single digit percentage
point declines in multi-product amortized revenue. And, as previously
communicated, we anticipate some operating margin contraction due to
the mix shift in revenues."
Mr. Jones made it clear that he does not foresee any near-term
liquidity issues for the Company. Regarding capital allocation, Mr.
Jones told investors that the Idearc Board of Directors has decided to
eliminate payment of dividends as part of the current capital
allocation program and focus on improving the Company's risk profile.
"This approach allows us to maximize flexibility as we work our
way through a more challenging economic environment," Mr. Jones
explained. "While the Board certainly has the discretion to resume
paying dividends in the future, it is keenly focused on an appropriate
capital allocation program and risk profile for the enterprise. In
light of current market conditions, we firmly believe this is the most
financially prudent approach to capital allocation."
Mr. Jones also told conference attendees that local media, and
directional media in particular, continues to be a large and growing
market. He said the Company has a number of initiatives in place to
help mitigate the impact from current cyclical economic headwinds and
the objective is to protect Idearc's customer base.
"We are managing our print business with opportunities to improve
performance as we move through 2008. We are confident the
multi-platform strategy will bring long-term value to stockholders,
sales leads to advertisers and relevant local results to consumers,"
he concluded.
Mr. Jones' presentation can be accessed by visiting Idearc's Web
site at http://ir.idearc.com/presentations.cfm and following the
instructions provided. An archived audio version of the presentation
will be available on Idearc's Web site for up to 60 days.
Yes bought some the other day at $4.75. Looking to accumulate more.
There print business has been declining as there internet business is increasing although its fairly small at this point.
Its definitely not a growth story at this point but its been so beaten up that it looks like a really low risk value play.
Im looking at this thing here.$5.00 a share, $2.75 earnings estmate 2008 and 25% dividend which is only about a 50% payout of earnings. Looks like a hell of a value pickup here.
Sorry you didn't sell someone else sure sold this thing into the toilet.
I just discovered and bought some IAR a couple of days ago at $4.75. It looks very undervalued.
OT
I have built a dividend portfolio over the last several months taking advantage of the wholesale dumping of all high dividend payers because of the financial crisis.
Here is what I have bought.
TELOZ,PVX,AAV,AINV,MCGC,AHT,DCT,NCT,NRF,NLY,MMAB,TICC,IAR