full-time investing; total portfolio up over 130% in 2009; but 2010 sucks!
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SEC proposing new rules (next yr) for African mining and oil companies???? Uh Oh!!!
http://news.yahoo.com/s/ap/20101215/ap_on_bi_ge/us_sec_companies_mining_and_minerals
FR.to/AG losing steam today ... down on its first AMEX trading day (I guess the action in PMs didn't help though; right, GasMeister?
Bought some an hour ago at $13.15 just for kicks, and sure enough, I got kicked.
Also bought some AUMN as well to replace GORO in one daughter's IRA.
ZSTN: Wade, Ben Axler put out an article recently questioning their numbers. Included some analysis of their cash flow and said they saw some discrepancies. Did you see it?
http://seekingalpha.com/article/239814-zst-digital-networks-q3-raises-more-questions-than-answers?source=qp_article
Insiders selling doesn't help. Anybody getting a reading on what Bill Reid is gonna do with all that cash? A couple of months ago, they said it was his wife selling 100,000 shares. This last week he sold at least 50,000 shares directly (per form 4).
Hmmm... if he didn't think GORO was overvalued, I cannot think why he would be withdrawing 150,000 x $25/sh = $3,750,000+
MILL: Miller time (passing gas in Tennessee)?
Co announced that its Lindsay 24 well tested at an initial rate of 2.3 million cubic feet of gas a day on a 3/4 inch choke. Miller drilled the Campbell County, Tennessee well to a total depth of 4,860 feet and completed the well in both the Big Lime and the Ft. Payne formations. Miller owns a 50% working interest in the well and it is anticipated that the well will be tied into its gas gathering system and producing gas before year end.
GORO: Mgt (particularly Bill Reid) has recently sold lots of shares (still hold a lot), so I'm wondering if they have another venture in mind besides GORO (which could be considered fairly valued here).
Of course they may have just sold a large amount to take advantage of low tax rates on longterm capital gains.
?????
'peeker
GORO: Mgt has recently sold lots of shares (still hold a lot), so I'm wondering if they have another venture in mind in addition to what they are doing with GORO. Of course they may have just sold a large amount to take advantage of low tax rates on longterm capital gains.
?????
'peeker
CCME: Good recommendation by Forbes writer:
http://blogs.forbes.com/schifrin/2010/12/10/4-chinese-equities-for-an-emerging-middle-class/?partner=yahootix
OT: Why isn't MMT.v/MAUXF.pk popping much higher?
Well, Jed Clampett loves the news on Mart, but Mr. Drysdale says, "Just hold Elly May's horses a minute, Jed. How are they gonna get all that black gold to the market with the Nigerian Hatfield's and McCoys blowing up all the stills in the woods and pipelines in the sand?".
Jed says, "Hmmm, that's a good point, Mr. Drysdale. I'll ask Jethro to guard the pipeline while Granny conjures up some possum-and-camel viddles to straighten everybody out."
In other words (Beverly Hillbillies aside), there's still plenty of drilling and logistical work to be done before assuming the UMU-6, -7, and -8 wells flow their oil to Mart's bottom line. It could take a year to build the revenues, but when the wells and pipelines (or trucks) are up and running, Mart and we stockholders should make big cashflow and profits, respectively.
'peeker (just lovin' the possum gravy on my UMU-6)
MMT.v/MAUXF.pk: BLOCKBUSTER well! Wow! Bobwins is rich beyond Kozuh's wildest elevator dreams, and this means SEA.v will lose the big race.
CCME: Strong vote of confidence by Starr investors.
FUJIAN, China--(BUSINESS WIRE)-- China MediaExpress Holdings, Inc. (NASDAQ: CCME), China’s largest television advertising operator on inter-city and airport express buses, today announced that Starr International Company, Inc. (“Starr International”), through its wholly-owned subsidiary Starr Investments Cayman II, Inc. (“Starr Cayman”), has completed the exercise of 1,545,455 of CME common stock purchase warrants, held since January 2010.
Each warrant was exercised into one share of CME common stock at $6.47 each. CME received net proceeds from the warrant exercise of $10 million. As of today, there are approximately 36.9 million shares of CME common stock issued and outstanding.
Starr International became one of the major investors in CME since January 2010, having invested, through Starr Cayman, $30 million in the form of 1,000,000 shares of CME Series A Convertible Preferred Stock at $30.00 per share, together with 1,545,455 of CME common stock purchase warrants. In addition, in October 2010, Starr International, through Starr Cayman, purchased an aggregate of 1.5 million shares of the Company’s common stock in two private transactions.
SWC big volume on a down day... (caused mostly by a large secondary offering at $19.50, I guess. Maybe somebody is just selling the heck out of it and trying to adjust the announced secondary price to something less than $19.50).
Traded almost 10xAvgVol and dropped 7% while palladium and platinum only dropped about half a percent each.
Anyone have a clue what's going on to drive this Palladium/Platinum producer down with such a surge in volume?
'peeker (slightly long SWC)
Canfor: The pooling and selling of US-owned shares hurts all shareholders if in fact the shares are sold off in a hurry rather then slowly over time as the price allows.
Silver squashed this morning ... now off $1.722 to $28.05
Wade, AGM going up each of the last two days on less volume than when the stock was falling; perhaps the sellers have left the building?
... or ... said another way ... and quoting you, "I don't get it."
'peeker
ps> I bought CCME on Friday and enjoyed the strong move the last two days. Today it's been as high as 16.99 and as low as 15.70. The "end of the rally" you referred to seems to be nothing more than the typical volatility of this stock.
Gene, not sure what the formula is that GORO uses, but Rival over at goldresourcecorp@yahoogroups.com must have a spreadsheet to calculate the combined value of ore per ton. Maybe he could post his spreadsheet as an attachment on that group so others can do their own calculations.
Regards,
'peeker
_______________________________________
Re: Copper
Posted by: "Rival" p2beaumont@gmail.com rival_no2
Mon Dec 6, 2010 9:57 am (PST)
Wonderman, I just plugged the current metal prices into my spread sheet. The assumption is that the flotation circuit will be increased to 1,200 tonnes per day (50% increase). No allowance is made for processing in the leach circuit. Surprisingly, I get a dividend of $1.22 which is amazingly close to the $1.21 number you posted. I project a share price of $48.85 using a PE ratio of 20.
Obviously, if they have 300 tonnes of high grade oxide ore to process through the agitated leach circuit, the dividend and share price could be much better.
Rival
OT: Tax Compromise
President Obama indicated last night that he has reached a compromise with Republicans on a tax plan. Although the legislative process still needs to play out, the broad strokes painted by the president have boosted confidence that work on a tax plan will be completed before the Bush tax cuts are set to expire on January 1 and that more GI Joe's with a kung fu grip are going to be purchased as a result this holiday season.
Although it was a slam dunk that the lower tax rates would be extended for lower- and middle-income taxpayers, that was not the case for upper-income taxpayers; moreover, it was not a slam dunk that an agreement of any kind would be reached before January 1. If the compromise laid out by the president passes muster in Congress, those fears should be put to rest.
The main tenets of the tax plan include the following:
--Every American family will keep their lower tax rates for the next two years
--A 2% employee payroll tax cut for workers next year
--The top rate of 15% for capital gains and dividends remains in place for another two years
--A maximum 35% estate tax with an exemption up to $5 mln
These provisions were agreed to by the president, contingent on the extension of some other tax cuts and a 13-month extension of unemployment benefits.
The equity market for its part likes what it has heard and is set to open noticeably higher as the S&P futures are trading 1.0% above fair value. The bullish bias is consistent with the action in foreign markets, particularly in Europe where finance ministers refrained from announcing any new plans to deal with the debt crisis. Most major European bourses are up more than 1.0% at this time.
It is readily apparent, too, that the risk trade is back on. The U.S. Dollar Index is weak (-0.5%), commodity prices are headed higher, and the back end of the Treasury curve is getting clipped. The 1-year note is down a point, bringing its yield up to 3.04% ahead of a $32 bln 3-year note auction at 1:00 p.m. ET.
There isn't much in the way of economic data today. The Consumer Credit report for October (Briefing.com consensus -$2.5 bln; prior +$2.1 bln) is the only item on the docket.
Elsewhere, there are reports that China may be set to raise interest rates this weekend ahead of Monday's CPI report. That speculation has been handled reasonably well as the tax plan compromise in the U.S., which is supportive for consumer spending, has taken precedence as a driver of sentiment.
Great Details on their multiple properties, geology, and business approach.
Salute!
'peeker
GeoVax (GOVX) announces expansion of Phase 2a Human HIV/AIDS vaccine trial (0.94 +0.18)
Co announced today the expansion of the Phase 2a clinical trial testing of its HIV/AIDS vaccine products. The expanded Phase 2a trial will test the administration of three doses of the recombinant poxvirus vaccine MVA62B without the use of the recombinant DNA-vectored vaccine, which was used to prime immune responses in the first part of this trial. The expanded Phase 2a trial is sponsored by the National Institute of Allergy and Infectious Diseases.
Note: Looks exciting, but only about 11,000 shares traded today, so go figure ???
Canfor: I don't understand what they mean by "sold off", that is, do they pay cash for the shares like a stock buyback, or are US-held shares dumped on the market all at once. It's a very unclear situation at this point to me.
I think Cl001 may have a better understanding of what to expect, but maybe I'm just slow on the interpretation ...
???????????????? peeker ??????????????????
OT: 007 has returned as a computer worm ... quietly mucking up Iran's nuclear system computers. Verrry cool (that is, if we can prevent them here).
http://www.foxnews.com/scitech/2010/11/26/secret-agent-crippled-irans-nuclear-ambitions/print
Merry Khomeni!
CDE: Bought some premkt today so I can watch what happens when SILVER breaks $30 today. Already at $29.82/oz so should happen this week if not today. IMHO, CDE and other silver stocks should benefit.
CCME: Wade, you need to send Global Hunter a nice "thank you" note.
09:49 CCME China MediaExpress upgraded earlier to Buy from Accumulate at Global Hunter (15.66 +0.83)
OT: Wade, shouldn't you oughta offer some disclosure, such as you own 476,000 sh of CCME and 1.5buttloads of AGM? I mean, when Jim Cramer recommends a stock he owns, he rattles off that he owns it in his Action Alerts Plus (charitable trust). But hey, some people here (I for 1) think more of your opinion than his.
Sorry, couldn't help myself, but when one complains about short attacks from those who would benefit from lower price, you positively must know that it works both ways (longs benefit when buyers/promoters take the price up).
For the record, I own neither stock but think AGM is the better deal short-term. CCME trades in US but runs ads on Chinese buses and I just cannot appreciate that while Lentinman types quietly (with mittens) in the KS cold.
Seriously, congratulations on a great year.
'peeker
PWER... unloaded my few shares at 10.84 after the nice runup on upgrade today. But still copped a loss after buying too high and holding for too looooooong. Good luck PWER players.
'peeker
ATPG on the move today ....
News 4 days ago was that they were meeting with GoldmanSux and presentations at 2 inv conferences ???
ATP at East Coast Conferences; Hosts Investment Group in Houston
8:30 am ET 11/30/2010 - Business Wire
HOUSTON--(BUSINESS WIRE)--Nov. 30, 2010-- Atp Oil & Gas Corporation (NASDAQ: ATPG) management will participate in two East coast conferences and host institutional investors in Houston beginning Tuesday, November 30th.
Chairman and CEO T. Paul Bulmahn, Chief Operating Officer George R. Morris, and Gerald W. Schlief, Acquisitions & Divestitures, will present to an investment group with Goldman Sachs at ATP's Houston headquarters this afternoon. Tomorrow, December 1, Chief Accounting Officer Keith R. Godwin will present at the Canaccord Genuity Global Energy Conference in Miami Beach which can be heard live beginning at 10:40 am ET at www.atpog.com or http://www.wsw.com/webcast/canaccord3/. Mr. Morris and Chief Financial Officer Al Reese, Jr. will conclude the week with a presentation Friday at the J.P. Morgan SMid Cap Conference in NYC which can also be heard live beginning at 11:00 am ET at www.atpog.com or http://cc.talkpoint.com/jpmc001/120210a_mg/?entity=16_G36DUMG. Slides for all three presentations can be viewed at www.atpog.com. One-on-one meetings at the conferences only can be arranged via sthornton@atpog.com or directly through management onsite.
12:38 ONP: Orient Paper under pressure following RINO news (6.71 -0.54)
The co's Audit Committee previously announced the findings of the independent investigation it had conducted with respect to allegations raised in publications by Muddy Waters.
12:31 RINO: RINO Intl common stock to be delisted by NASDAQ Stock Market (6.07)
NASDAQ stated that its staff's determination was based upon the following:co's announcement that its previously filed financial reports for fiscal 2008, 2009 and year-to-date 2010 could no longer be relied upon; the admission that it had not entered into certain previously disclosed contracts; the failure to respond to the NASDAQ staff's request for additional information regarding allegations raised by the Muddy Waters report.
OT: PWER: All in fun, of course, but at this juncture PWER is looking better than your DD (since I still own it). Nice pop with your selling announcement.
Best Regards, and Good Luck with the next one ...
'peeker
08:10 Early Floor Talk: Global rebound continues
Yesterday's global rebound is seeing some follow-through today, with continued strength in stocks, the euro and higher-risk European sovereign debt at the expense of safe-havens such as the dollar and treasuries. U.S. futures are up, with S&P futures +5 vs. fair value and DJ futures +35. This all comes ahead of today's ECB policy directive at 7:45 ET, which is expected to contain some reassurance that it will extend supportive monetary policy as needed. Comments hinting at such an idea from Jean-Claude Trichet yesterday sparked the relief rally in Europe, which follows a protracted period of weakness for the euro and "peripheral" European debt. Yields on Spanish debt came in further today, after the country saw strong demand at its 2.5 bln euro auction. The ECB already left rates unchanged at 1.0% this morning, but the commentary of interest will come at the 8:30 ET conference with Trichet. European stocks are extending yesterday's gains (FTSE +0.9%, DAX +0.3%, CAC +0.9%, IBEX +1.5%), while the euro is marginally higher vs. the dollar (+0.0019 at $1.3158).
Asian stocks also performed well overnight (Nikkei +1.8%, Hang Seng +0.9%, Shanghai Composite +0.7%). There was a Reuters report overnight suggesting that China is considering a ~$1.5 trillion investment in strategic industries such as "alternative energy, biotechnology, new-generation information technology, high-end equipment manufacturing, advanced materials, alternative-fuel cars and energy-saving and environmentally friendly technologies."
Back in the U.S., retailers are in focus as they report their Nov. Same Store Sales results, which include Black Friday sales. So far the results are above expectations, with 13 beats and 2 misses. In M&A news, PEP announced it will acquire 66% of Wimm-Bill-Dann (WBD) for $3.8 bln, implying a total enterprise value of ~$5.4 bln. The $33.00 per ADR share price represents a 35% premium to yesterday's close. In earnings news, TOL beat estimates on the top and bottom line.
U.S. econ data is lighter today, but Initial Claims data at 8:30 ET will be of interest, and is followed by Pending Home Sales at 10:00 ET. This data precedes tomorrow's important November Employment Report from the BLS.
IAE.v: Ithaca Energy Inc. Athena Field: Flowline Installation and FPSO Mooring System Contract Awarded
December 2, 2010
Athena Field: Flowline Installation and FPSO Mooring System Contract Awarded
LONDON, UNITED KINGDOM and CALGARY, CANADA--(Marketwire - Dec. 2, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ithaca Energy Inc. and its wholly owned subsidiary Ithaca Energy (UK) Limited ("Ithaca" or the "Company"), an independent oil & gas company with exploration, development and production
assets in the UK sector of the North Sea, announces that the contracts for the installation of subsea equipment and the installation of the FPSO mooring system for the Athena Development has been awarded to Bibby Offshore Limited ("Bibby Offshore"). The contracts were awarded after an extensive tendering exercise with bids being received from a number of installation contractors active within the North Sea.
For the subsea installation contract, Bibby Offshore will install subsea manifolds, flowlines, power cables and
umbilicals between the subsea wellheads and the floating production, storage and offloading ("FPSO") vessel 'BW
Athena'. This work includes both the 2km seabed sections (which will be trenched) and the dynamic riser
sections leading to the buoy connecting the system to the FPSO.
For the FPSO mooring system contract, Bibby Offshore will install an APL STP Buoy. The STP Buoy is a mooring
line tethered buoy utilised to locate the FPSO at the Athena site. This work includes the installation of nine
suction piles, and associated anchor lines.
Notes:
The initial development consists of four production wells supported by one water injection well. Production
will be routed via the subsea manifold and a two kilometre, 8 inch flowline to the FPSO. Oil production will be
exported via shuttle tankers. Produced gas will be used to generate power on the FPSO.
On September 9, 2010, the Company announced the award of two major contracts; the provision of an FPSO and the
provision of a semi-submersible drilling rig.
On September 20, 2010, The Company received Field Development Plan approval from the Department of Energy and
Climate Change. First production from the field is planned for Q3 2011.
The Athena Joint Venture Partners are Ithaca (operator, 22.5%), Dyas UK Ltd (47.5%), EWE Aktiengesellschaft
(20%) and Zeus Petroleum Limited (10%).
MMT.v ... Technical term for the recent chart action
is Way OverSucky.
AGM /// maybe WikiLeaks has stuff about them? OK ... kidding ...
Supposedly WikiLeak.org has got info on two big banks, but doubtful AGM would be one.
Good luck; they're already rebounding some.
GORO reminds me of baseball (and Felipe Alou), because ...
GORO has been verrrrrry verrrrrry gooooood to me.
1yr chart tells the great story very succinctly.
http://finance.yahoo.com/echarts?s=goro#chart1:symbol=goro;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
PRIM/PRIMW: 09:04 Primoris Services announces new contracts valued at approximately $101 million (8.99)
Co announced that its wholly-owned subsidiary, James Construction Group, LLC, has been awarded three highway construction contracts by the Louisiana Department of Transportation. These contracts are expected to generate aggregate revenues to Primoris of approximately $101 million over a three-year period that commenced November 2010.
Form4s filed today. David Reid selling about 17,238 shares; I guess he needed a quick $4+ million because he met a cute girl?
08:19 AXU: Alexco Resources discovers extension of Bellekeno deposit, further underground drilling planned (6.95)
Tue Nov 30 2010 08:19:38 GMT-0500 (Eastern Standard Time) ET
Co announces that step-out surface exploration drilling conducted to the southwest of the newly commissioned Bellekeno Mine has successfully located high grade lead-silver mineralization approximately 130 meters down plunge from the existing Bellekeno resource.
14:02 CEU halted; let's hope RedChip got caught with a few, too.
Their total for 2010 still shows .12 "special dividends"/share.
"Special dividends should not be considered a proxy for future dividends. Potential special dividends may vary in amount and consistency or be discontinued at management's discretion depending on variables including but not limited to operational cash flows, company development requirements and strategies, spot gold and silver prices and general market conditions, etc."
I also like the quote at bottom of that box saying:
""EARNINGS ARE OPINION, CASH IS FACT""
MMT.v/MAUXF.pk: What happens if the production from UMU-6 is NOT as great as implied by the 9NOV press release? Mart could suffer a significant stock price drop, right?
Too much optimism can be a dangerous thing, so maybe we are being too optimistic regarding UMU-6 + UMU-7 + UMU-8.
Does anyone know right off hand what INITIAL daily production the other (UMU) wells have achieved? My point is that the current stock price has significant optimism built in, so we stockholders may be smart to mitigate the risk by selling some portion of our MMT.v before production numbers are released.
JMHO, and would love to hear opinions of other Mart stockholders.
Regards, 'peeker
TGA: TransGlobe expects 33 pct higher production in 2011
8:18 am ET 11/29/2010 - Reuters
* Sees 2011 production at 13,000-13,250 bopd
* Sets 2011 capital budget at $90 mln
Nov 29 (Reuters) - Canadian oil and gas company TransGlobe Energy Corp <TGL.TO> <TGA.O> said it expects 2011 production to be about 33 percent more than the estimated current year volumes, and set a higher capital budget for next year.
The company, which has oil interests in Egypt, expects to produce 13,000-13,500 barrels of oil per day (bopd) in 2011, up from its estimated production of 10,000 bopd for 2010.
The company said the outlook excludes production from the East Ghazalat project, where it discovered oil early this year, as the project has not yet received approval from the Egyptian government.
TransGlobe set its initial 2011 capital budget at $90 million, 28 percent above the current year.
A majority of the budget is dedicated to the Arta/East Arta development project, the company said in a statement.
In Egypt, TransGlobe has working interest in West Gharib, East Ghazalat and Nuqra.
Calgary, Alberta-based TransGlobe's shares, which have gained more than a fourth in value since the company posted a second quarter profit, closed at C$16.92 on Friday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Roshni Menon) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))