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EMFP was a Double down for me too. We're screwed unless FDA approval hits before PSL4 ends.
I knew it was a big crap shoot. I was thinking the nano mask could be a home run bird flu play if timing was perfect.
PEYG Pluris Energy Provides Corporate Update
Tuesday November 14, 7:25 am ET
HOUSTON, Nov. 14 /PRNewswire-FirstCall/ -- Pluris Energy Group Inc. (OTC Bulletin Board: PEYG - News) is pleased to update its shareholders with further details related to corporate developments that the Company first disclosed in its September 12, 2006 new release.
As previously announced, Pluris Energy has redefined its business model to better exploit the Company's opportunities and skill sets. As such, Pluris Energy is focusing on the acquisition of non-operated, producing oil and gas interests in international high-profile areas, which management believes benefit our shareholders by specifically and more gainfully employing management's core competencies, expertise and spheres of influence in the areas of international energy business development and finance.
To date, Pluris has focused its international business development interests on the Southern Cone region of South America and specifically in Argentina, largely due to its profile as being relatively under-explored with significant reserves and steady to high production growth potential with moderate to low risk. These unique attributes provide for substantially higher rates of return on investments for pioneering oil and gas enterprises like Pluris Energy. With only five out of nineteen hydrocarbon bearing basins currently in production and billions of dollars in energy investment recently committed by international energy development companies, Argentina can provide our shareholders a foundation to access attractive existing opportunities as well as excellent ground floor exploration prospects towards potentially developing a significant opportunity platform in this rapidly expanding, yet under-developed region.
Pluris Energy has already made significant inroads in Argentina by entering into a Shares Purchase Agreement to acquire San Enrique Petrolera, SA (San Enrique), an oil and gas upstream and midstream company located in Buenos Aires, Argentina, as previously announced in our September 12, 2006 news release. San Enrique controls over 251,000 net acres of producing oil and gas fields, representing 3P reserves estimated at approximately 49 million barrels of oil equivalents with current net production of over 1,000 barrels of oil equivalent per day.
As part of the Company's overall growth agenda and business mandate, Pluris Energy plans to make a number of South American acquisitions of producing hydrocarbon interests in the future with similar characteristics and metrics to those of San Enrique's. As such, we have strengthened our corporate structure to reflect these new opportunities. Most specifically, the company has completed the following changes:
* On September 12, 2006, Pluris Energy completed a five-for-one
consolidation of its common shares, providing for a more expansive
platform upon which to build our new business model upon.
* On September 12, 2006 the Company announced the offering of a
$65,000,000 convertible, non-retractable, redeemable unsecured bond for
the purpose of financing the acquisition of as many as two
international revenue producing oil and gas opportunities similar to
that of San Enrique. The Pluris Bond "A" is structured in a manner that
could, upon the successful completion of target acquisitions,
dramatically impact shareholder value with only marginal dilution to
the common shares of the Company due the Bond's phased conversion at
prices ranging from $3.25 to $9.25 per share over the next five years.
* In October, 2006, Pluris Energy increased its authorized capital
structure from 20,000,000 common shares to 250,000,000 common shares
and 100,000,000 preferred shares. This ensures the Company's long-term
flexibility in raising capital and acquiring assets to fulfill our
growth mandates for years to come, without immediate dilution to the
common share capital of the Company until capital asset values are
appreciably realized.
* Pluris Energy's plans to register and list its common shares through an
Initial Public Offering (IPO) on the Oslo Bors are currently on-track.
The Oslo Bors is one of the fastest growing stock exchanges in the
world and most notably one which is most aligned with the value
principles associated specifically with the energy industry. We
anticipate that listing Pluris Energy's common shares on the Oslo Bors
could provide our shareholders with superior quality of order
execution, a more orderly market providing increased liquidity and
potentially greater access to an expanded sphere of sophisticated and
active international energy investment communities. Pluris Energy's
common shares will continue to be quoted in the United States
subsequent to the planned IPO on the Oslo Bors.
Pluris Energy's Chairman and Chief Executive Officer, Sacha H. Spindler, stated, "In light of the very unique and significant opportunities that we have positioned Pluris Energy to benefit from, and as we make corporate changes to ensure those opportunities can be fully captured, it is also important to recognize and address the challenges that helped shape our new business model and corporate directives. In that regard, over the past few months our share price has lost value after several million shares were sold in the Company's market following management's decision to release the Company from non-performing finance agreements. This situation was compounded by difficulties in developing our Texas Gulf Coast assets due to increased competition in an already tight market for drilling rigs and crews. Facing these challenges led us to reassess our core competencies and our future business directives. Our new directives better utilize management's skills, experience and spheres of influence in a more focused and effective manner that could result in direct impact to the realization of a substantial revenue platform that we believe will provide for stable long term value growth for our shareholders."
Mr. Spindler further stated, "We look forward to making announcements about our progress related to our South American acquisition mandate soon and thank our shareholders for their patience and support as we continue to work toward the fulfillment of the Company's new business plans."
About Pluris Energy
Pluris Energy Group Inc. is an international energy company engaged in the acquisition and development of non-operated producing oil and gas interests in global high profile development plays. Pluris Energy is also investing in the research and development of energy efficiency technologies aiming to maximize the diversification of the worldwide energy grid. For further information, please visit the Company's website at www.pluris.com
Pluris Energy Provides Corporate Update
Tuesday November 14, 7:25 am ET
HOUSTON, Nov. 14 /PRNewswire-FirstCall/ -- Pluris Energy Group Inc. (OTC Bulletin Board: PEYG - News) is pleased to update its shareholders with further details related to corporate developments that the Company first disclosed in its September 12, 2006 new release.
As previously announced, Pluris Energy has redefined its business model to better exploit the Company's opportunities and skill sets. As such, Pluris Energy is focusing on the acquisition of non-operated, producing oil and gas interests in international high-profile areas, which management believes benefit our shareholders by specifically and more gainfully employing management's core competencies, expertise and spheres of influence in the areas of international energy business development and finance.
To date, Pluris has focused its international business development interests on the Southern Cone region of South America and specifically in Argentina, largely due to its profile as being relatively under-explored with significant reserves and steady to high production growth potential with moderate to low risk. These unique attributes provide for substantially higher rates of return on investments for pioneering oil and gas enterprises like Pluris Energy. With only five out of nineteen hydrocarbon bearing basins currently in production and billions of dollars in energy investment recently committed by international energy development companies, Argentina can provide our shareholders a foundation to access attractive existing opportunities as well as excellent ground floor exploration prospects towards potentially developing a significant opportunity platform in this rapidly expanding, yet under-developed region.
Pluris Energy has already made significant inroads in Argentina by entering into a Shares Purchase Agreement to acquire San Enrique Petrolera, SA (San Enrique), an oil and gas upstream and midstream company located in Buenos Aires, Argentina, as previously announced in our September 12, 2006 news release. San Enrique controls over 251,000 net acres of producing oil and gas fields, representing 3P reserves estimated at approximately 49 million barrels of oil equivalents with current net production of over 1,000 barrels of oil equivalent per day.
As part of the Company's overall growth agenda and business mandate, Pluris Energy plans to make a number of South American acquisitions of producing hydrocarbon interests in the future with similar characteristics and metrics to those of San Enrique's. As such, we have strengthened our corporate structure to reflect these new opportunities. Most specifically, the company has completed the following changes:
* On September 12, 2006, Pluris Energy completed a five-for-one
consolidation of its common shares, providing for a more expansive
platform upon which to build our new business model upon.
* On September 12, 2006 the Company announced the offering of a
$65,000,000 convertible, non-retractable, redeemable unsecured bond for
the purpose of financing the acquisition of as many as two
international revenue producing oil and gas opportunities similar to
that of San Enrique. The Pluris Bond "A" is structured in a manner that
could, upon the successful completion of target acquisitions,
dramatically impact shareholder value with only marginal dilution to
the common shares of the Company due the Bond's phased conversion at
prices ranging from $3.25 to $9.25 per share over the next five years.
* In October, 2006, Pluris Energy increased its authorized capital
structure from 20,000,000 common shares to 250,000,000 common shares
and 100,000,000 preferred shares. This ensures the Company's long-term
flexibility in raising capital and acquiring assets to fulfill our
growth mandates for years to come, without immediate dilution to the
common share capital of the Company until capital asset values are
appreciably realized.
* Pluris Energy's plans to register and list its common shares through an
Initial Public Offering (IPO) on the Oslo Bors are currently on-track.
The Oslo Bors is one of the fastest growing stock exchanges in the
world and most notably one which is most aligned with the value
principles associated specifically with the energy industry. We
anticipate that listing Pluris Energy's common shares on the Oslo Bors
could provide our shareholders with superior quality of order
execution, a more orderly market providing increased liquidity and
potentially greater access to an expanded sphere of sophisticated and
active international energy investment communities. Pluris Energy's
common shares will continue to be quoted in the United States
subsequent to the planned IPO on the Oslo Bors.
Pluris Energy's Chairman and Chief Executive Officer, Sacha H. Spindler, stated, "In light of the very unique and significant opportunities that we have positioned Pluris Energy to benefit from, and as we make corporate changes to ensure those opportunities can be fully captured, it is also important to recognize and address the challenges that helped shape our new business model and corporate directives. In that regard, over the past few months our share price has lost value after several million shares were sold in the Company's market following management's decision to release the Company from non-performing finance agreements. This situation was compounded by difficulties in developing our Texas Gulf Coast assets due to increased competition in an already tight market for drilling rigs and crews. Facing these challenges led us to reassess our core competencies and our future business directives. Our new directives better utilize management's skills, experience and spheres of influence in a more focused and effective manner that could result in direct impact to the realization of a substantial revenue platform that we believe will provide for stable long term value growth for our shareholders."
Mr. Spindler further stated, "We look forward to making announcements about our progress related to our South American acquisition mandate soon and thank our shareholders for their patience and support as we continue to work toward the fulfillment of the Company's new business plans."
About Pluris Energy
Pluris Energy Group Inc. is an international energy company engaged in the acquisition and development of non-operated producing oil and gas interests in global high profile development plays. Pluris Energy is also investing in the research and development of energy efficiency technologies aiming to maximize the diversification of the worldwide energy grid. For further information, please visit the Company's website at www.pluris.com
PAN.V or PANNF PanTerra Finishes Moose Jaw Drilling
Tuesday November 14, 9:30 am ET
PAN - TSXV
CALGARY, Nov. 14 /CNW/ - PanTerra Resource Corp. (the "Company") is very pleased to report that it has successfully finished its 16 well drilling program at Moose Jaw. All 16 wells showed excellent gas indications and were cased. Three wells were extensively cored and the cores are presently being analyzed in the USA. With the successful completion of this program the Company and its partner have now met their expenditure requirements for the 'Exploration Permits' on their 3 major blocks; Shell Lake, Foam Lake and Moose Jaw.
The drilling rig used at Moose Jaw is presently moving to Whitehill Lakes near North Battleford, where PanTerra as Operator, will drill 5 wells and earn a 25% carried interest.
Furthermore, the previously announced cased-hole logging program was completed at Shell Lake in October and is ongoing at both Foam Lake and Moose Jaw and should be completed by early December.
The TSX Venture Exchange has not reviewed nor accepts responsibility
for the adequacy or accuracy of the contents of this news release.
For further information
Fred P. Rumak P.Geol., President and C.E.O., (403) 261-5900, Email to: fred@panterraresource.com
--------------------------------------------------------------------------------
Source: PanTerra Resource Corp.
PanTerra Finishes Moose Jaw Drilling
Tuesday November 14, 9:30 am ET
PAN - TSXV
CALGARY, Nov. 14 /CNW/ - PanTerra Resource Corp. (the "Company") is very pleased to report that it has successfully finished its 16 well drilling program at Moose Jaw. All 16 wells showed excellent gas indications and were cased. Three wells were extensively cored and the cores are presently being analyzed in the USA. With the successful completion of this program the Company and its partner have now met their expenditure requirements for the 'Exploration Permits' on their 3 major blocks; Shell Lake, Foam Lake and Moose Jaw.
The drilling rig used at Moose Jaw is presently moving to Whitehill Lakes near North Battleford, where PanTerra as Operator, will drill 5 wells and earn a 25% carried interest.
Furthermore, the previously announced cased-hole logging program was completed at Shell Lake in October and is ongoing at both Foam Lake and Moose Jaw and should be completed by early December.
The TSX Venture Exchange has not reviewed nor accepts responsibility
for the adequacy or accuracy of the contents of this news release.
For further information
Fred P. Rumak P.Geol., President and C.E.O., (403) 261-5900, Email to: fred@panterraresource.com
--------------------------------------------------------------------------------
Source: PanTerra Resource Corp.
11/22/06 11:46 AM
11/22/06 11:32 AM
The only problem is that tax hikes seem to be a zero sum game. Productivity slows and tax receipts end up going down.
I'll agree that spending needs to be reined in somehow.
CPE up today thanks to an upgrade by Morgan Keegan to Outperform from Mkt Perform. CC today at 11 am e.t.
Vic
Yeah, she's pretty scary. As the new Speaker of the House, she will moderate her rhetoric...but look for a steady attack to repeal all tax cuts. Bush will veto of course...so make lots of money the next 2 years, LOL!
New Speaker of the House Nancy Pelosi. Here are some things she recently said. Some of it sounds like stuff Fidel Castro would say:
Subject: Nancy Pelosi
Published: October 22, 2006
Nancy Pelosi condemed the new record highs of the stock market as "just
another example of Bush policies helping the rich get richer".
"First Bush cut taxes for the rich and the economy has rebounded with new
record low unemployment rates, which only means wealthy employers are
getting even wealthier at the expense of the underpaid working class".
She went on to say "Despite the billions of dollars being spent in Iraq
our economy is still strong and government tax revenues are at all time
highs. What this really means is that business is exploiting the war effort
and working Americans just to put money in their own pockets".
When questioned about recent stock market highs she r esponded "Only the
rich benefit from these record highs. Working Americans, welfare
recipients, the unemployed and minorities are not sharing in these obscene
record highs".
"There is no question these windfall profits and income created by the
Bush administration need to be taxed at 100% rate and those dollars
redistributed to the poor and working class".
"Profits from the stock market do not reward the hard work of our working
class who, buy their hard work, are responsible for generating these
corporate profits that create stock market profits for the rich. We in
congress will need to address this issue to either tax these profits or to
control the stock market to prevent this unearned income to flow to the
rich".
When asked about the fact that over 80% of all Americans have investments
in mutual funds, retirement funds, 401K's, and the stock market she replied
"That may be true, but probably only 5 % account for 90% of all these
investment dollars. That's just more "trickle down" economics claiming that
if a corporation is successful that everyone from the CEO to the floor
sweeper benefit from higher wages and job securuty which is ridiculous". How
much of this "trickle down" ever get to the unemployed and minorites in our
county? None, and that's the tragedy of these stock market highs."
"We democrats are going to address this issue after the election when we
take control of the congress. We will return to the 60% to 80% tax rates on
the rich and we will be able to take at least 30% of all currrent lower
Federal Income Tax taxpayers off the roles and increase government income
substantially. We need to work toward the goal of equalizing income in our
country and at the same time limiting the amount the rich can invest."
When asked how new these new tax dollars would be spent, she replied "We
need to raise the sta ndard of living of our poor, unemployed and minorities.
For example, we have an estimated 12 million illegal immigrents in our
country who need our help along with millions of unemployed minorities.
Stock market windfall profits taxes could go a long ways to guarantee these
people the standard of living they would like to have as Americans"
A Bush spoksman responded to this interview by saying "Mrs. Pelosi has set
a new standard for the spin business".
AUY makes a correction on cash flow:
CORRECTION FROM SOURCE: Yamana Gold Reports Third Quarter 2006 Results: Significant Milestones Met With Year-to-Date Mine Operating Earnings Increase of 626% and Commissioning of Largest Mine
Tuesday November 7, 7:51 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--Nov 7, 2006 -- In the release issued at 6:25PM ET NOV 7, 2006 a typographical error on the cash flow statement has been corrected. Cash flow is positive 14,603 and 37,516. Revised page of cash flow statement is below.
Yamana Gold Inc. (Yamana) (TSX:YRI.TO - News)(AMEX:AUY - News)(AIM: YAU) -
Yamana Gold Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Periods Ended
(In thousands of US Dollars, unaudited)
Three months ended Nine months ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2006 2005 2006 2005
---------------------------------------------------------------------
Operating Activities
Net (loss) earnings
for the period $ (12,085) $ 3,246 $ (76,303) $ (4,038)
Asset retirement
obligations realized (41) (77) (259) (201)
Non-operating
finance fee - - 5,000 -
Items not involving
cash
Depreciation,
amortization and
depletion 8,888 1,732 19,729 4,570
Stock-based
compensation
(Note 13) 761 304 38,300 2,303
Future income taxes (451) 1,978 (8,107) 3,841
Accretion of asset
retirement obligation 167 94 504 258
Other (905) (810) 363 924
Financing charge - - 19,744 -
Unrealized loss on
commodity contracts
(Note 15) 16,716 - 37,002 -
Provision for losses 1,553 - 1,543 -
---------------------------------------------------------------------
14,603 6,467 37,516 7,657
Net change in
non-cash working
capital (Note 16) (36,922) (3,024) (44,631) (2,629)
---------------------------------------------------------------------
(22,319) 3,443 (7,115) 5,028
---------------------------------------------------------------------
Financing Activities
Issue of common
shares, options and
warrants for cash 2,384 48,561 213,835 50,177
Deferred financing
charges - (1,352) (224) (3,533)
Proceeds (repayment)
of notes payable and
long-term liabilities (1,016) - (119,151) 100,000
---------------------------------------------------------------------
1,368 47,209 94,460 146,644
---------------------------------------------------------------------
---------------------------------------------------------------------
Investing Activities
Expenditures on
mineral properties (16,992) (6,085) (36,365) (16,352)
Decrease (increase) in
restricted cash - 69,523 583 (30,815)
Acquisition of
property, plant and
equipment (6,905) (1,924) (14,855) (4,187)
Expenditures on
assets
under construction (17,567) (42,986) (111,201) (78,183)
Company acquisitions,
net of assets acquired 423 - 13,037 -
Other (9,622) 446 (19,444) (1,399)
---------------------------------------------------------------------
(50,663) 18,974 (168,245) (130,936)
---------------------------------------------------------------------
---------------------------------------------------------------------
Increase (decrease)
in cash and cash
equivalents (71,614) 69,626 (80,900) 20,736
Cash and cash
equivalents, beginning
of period 142,347 38,164 151,633 87,054
---------------------------------------------------------------------
Cash and cash
equivalents, end of
period $ 70,733 $107,790 $ 70,733 $ 107,790
---------------------------------------------------------------------
---------------------------------------------------------------------
Cash and cash equivalents
Are comprised of the
following:
Cash at bank $ 33,700 $ 16,397 $ 33,700 $ 16,397
Bank term deposits 37,033 91,393 37,033 91,393
---------------------------------------------------------------------
$ 70,733 $107,790 $ 70,733 $ 107,790
---------------------------------------------------------------------
---------------------------------------------------------------------
Contact:
Contacts:
Yamana Gold Inc.
Peter Marrone
President and Chief Executive Officer
(416) 815-0220
Yamana Gold Inc.
Charles Main
Chief Financial Officer
(416) 815-0220
Website: http://www.yamana.com
--------------------------------------------------------------------------------
Source: Yamana Gold Inc
AUY puts up impressive Q3 headline, but revenues appear to be about 10 mil below estimates. (50 mil vs 60 mil expected).
Yamana Gold Reports Third Quarter 2006 Results: Significant Milestones Met With Year-to-Date Mine Operating Earnings Increase of 626% and Commissioning of Largest Mine
Tuesday November 7, 6:25 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--Nov 7, 2006 -- Yamana Gold Inc. (Yamana) (TSX:YRI.TO - News)(AMEX:AUY - News)(AIM: YAU) is pleased to announce its financial and operating results for the quarter ended September 30, 2006.
Third Quarter Highlights:
Highlights from the period of June 30, 2006 to September 30, 2006 include the following:
- Mine operating earnings of $9.5 million for the quarter and $26.2 million on a year-to-date basis - an increase of approximately 545% from comparative year quarter and 626% for the corresponding year-to-date comparative.
- Revenue of $50.3 million, an increase of 20% from the prior quarter and 368% over the prior year quarter and $109.3 million year-to-date.
- Non-GAAP earnings of $4.7 million for third quarter or $0.02 per share.
- Net loss of $12.1 million for third quarter or $0.04 per share after accounting for certain non-cash and non-recurring items.
- Cash flow before working capital of $14.6 million.
- Total gold production of 88,781 ounces for the quarter, representing an increase of 167% for the corresponding quarter of 2005.
- Completed construction of Chapada mine, the Company's largest mine, and commissioned the mill processing plant. The mine and mill commenced continuous operations in early November 2006 with concentrate production expected by mid November.
- Declared commercial production on August 1, 2006 at Sao Francisco with commercial production for August and September of Q3 of 20,789 ounces.
- Negotiated terms and conditions for $200 million revolving line of credit.
- Completed acquisition of Viceroy Exploration Ltd subsequent to quarter end.
- Continued with feasibility studies on current projects and provided the feasibility study for Sao Vicente and the expansion plan for Jacobina.
"During this quarter we realized major corporate milestones with mine operating earnings increasing more than six times over the comparative nine month period in 2006 versus 2005, cash flow that has more than doubled over the same period last year, the completion of our largest mine, Chapada, and Sao Francisco reaching commercial production," said Peter Marrone, President and Chief Executive Officer of Yamana Gold Inc. "The significant improvements in our year-over-year growth in the areas of production, revenue, earnings and growth clearly demonstrate our unwavering commitment to offering value to our shareholders."
Financial and Operating Summary:
A total of 88,781 ounces of gold were produced during the quarter of which 79,912 ounces were from operations in full commercial production at an average cash cost of $337 per ounce. Commercial production for the quarter increased by 167% relative to the comparative quarter ended September 30, 2005 both through internal growth and acquisitions. Commercial production for the quarter includes three months production from the San Andres Mine and the Jacobina Mine, both acquired during the year and two months for Sao Francisco.
A total of 246,829 ounces of gold were produced on a year to date basis which includes pre-acquisition production from the San Andres Mine and Jacobina Mine beginning January 1, 2006. Of this total, 178,897 ounces are accounted for in the Company's revenues, as pre-commercial and pre-acquisition production ounces are not reported in the Company's operating results.
The Company reported non-GAAP net earnings of $4.7 million for the quarter ended September 30, 2006 adjusted for certain non-cash or non-recurring items which have occurred in 2006 including foreign exchange gains, an unrealized loss on commodity contracts, stock based compensation and future income tax expense on foreign currency translations.
Mine operating earnings for the quarter were $9.5 million, an increase of approximately 545% from mine operating earnings of $1.5 million for the comparative quarter ended September 30, 2005. Mine operating earnings for the comparative quarter reflect earnings from the Fazenda Brasileiro and Fazenda Nova mines. Mine operating earnings on a year to date basis was $26.2 million. This compares to $3.6 million for the comparative nine month period ended September 30, 2005. Mine operating earnings for the quarter and the nine months ended September 30, 2006 include operations from the Sao Francisco mine from August 1, 2006 (date of commercial production).
Net earnings for the quarter included a foreign exchange gain in the amount of $0.5 million, investment and other business income of $1.2 million, general and administrative expenses of $5.1 million and an income tax expense of $0.9 million. Net earnings for the nine month period included a foreign exchange gain in the amount of $6.1 million, investment and other business income of $4.3 million, general and administrative expenses of $13.7 million and income tax recovery of $5.8 million.
Cash flow generated from operations was $14.6 million before reductions from changes in non-cash working capital items of $36.9 million for the quarter ended September 30, 2006 resulting in an outflow of $22.3 million after adjustments for changes in non-cash working capital items. This compares to an inflow of $6.5 million for the comparative quarter ended September 30, 2005 before a decrease in cash flow of $3.0 million for changes in non-cash working capital items.
Capital expenditures for the quarter on property, plant and equipment and mineral properties were $41.5 million, of which $17.6 million was spent on the construction net of changes in non-cash working capital items. Capital expenditures for the nine months were $162.4 million of which $111.2 million was spent of construction net of changes in non-cash working capital items.
Cash and cash equivalents at the end of the quarter were $70.7 million (December 31, 2005 - $151.6 million) before cash and cash equivalents of C$69.1 million from Viceroy (total of $132.3 in cash and cash equivalents).
The complete financial statements and management and discussion analysis for the third quarter ended September 30, 2006 follows this announcement.
A conference call and audio webcast has been scheduled for November 8, 2006 at 11:00 a.m. E.T. to discuss the third quarter results.
Viceroy Exploration Acquisition
Yamana mailed a notice of compulsory acquisition to all remaining holders of Viceroy Exploration Ltd. common shares (the "Viceroy Shares"). As a result of Yamana's offer to acquire all of the Viceroy Shares, Yamana now owns approximately 95% of the outstanding Viceroy Shares.
Since the Yamana offer was accepted by holders of more than 90% of the Viceroy Shares, Yamana is now exercising its right under the compulsory acquisition provisions of the Business Corporations Act (British Columbia) to acquire all outstanding Viceroy Shares not already owned by Yamana at the Offer price of 0.97 of a Yamana common share for each Viceroy Share. All Viceroy Shares that have not been duly submitted prior to 5:00 p.m. on January 2, 2007 will automatically be purchased by Yamana, subject to any court ordering otherwise.
About Yamana
Yamana is a Canadian gold producer with significant gold production, gold and copper gold development stage properties, exploration properties, and land positions in Brazil, Argentina and Central America. Yamana expects to produce gold at intermediate company production levels in 2006 in addition to significant copper production by 2007. Company management plans to continue to build on this base through the advancement of its exploration properties and by targeting other gold consolidation opportunities in Brazil, Argentina and elsewhere in Latin America.
For further information:
Yamana Gold Inc. Yamana Gold Inc.
Peter Marrone Charles Main
President and Chief Executive Officer Chief Financial Officer
+1 416 815-0220 +1 416 815-0220
CPE reports .45 per share, slightly beating estimates of .44 per share. Q4 guidance was lowered to 53 MMcfe/d from previous 64+ range. Murphy operated Medusa which supplies a major amount of CPE's crude oil production is having problems causing a loss of 9.1 MMcfe/d. (About 140Mmbls less in q4). Natgas adds will increase production about 7.5 MMcf/d.
Bottom line will be about 3 mil less in revs sequentially if pricing stays constant Q to Q.
Word is that Deep Norman prospect has spudded and TD is expected around year end. It is a 200 - 500 MMbl prospect with Callon holding a 5% WI. If it hits that would be a $10+ instant add to CPE's NAV.
PPS will show downside pressure nearterm imo due to lowered Q4 quidance. Hook-up delays will likely be cited as one of the problems in CC tomorrow.
I would hold off buying more for now until closer to TD on Deep Norman. (Unless goes too far down, ie:<12.00)
Vic
Thank you Blockman. A friend emailed that and it struck a deep chord with me.
Changing subjects, the CBOE equity put/call ratio dipped as low as 48.7% today. Readings below 50% often coincide with market tops.
I am officially bearish on the market starting today with the exception of oil/gas/precious metals.
Vic
Wisdom from Tony Blair.
In case we find ourselves starting to believe all the anti-American sentiment and negativity, we should remember England's Prime Minister Tony Blair's words during a recent interview. When
asked by one of his Parliament members why he believes so much in America, he said:
"A simple way to take measure of a country is to look at how many want in... And how many want out."
In addition to what Mr. Blair said remember this -
Only two defining forces have ever offered to die for you:
1. Jesus Christ
2. The American G. I.
One died for your soul, the other for your freedom.
I was pleasantly surprised to see an old open buy for 20K CDCH at .075 filled for me this morning.
A few things to keep in mind when voting tomorrow:
$14,374,330,000,000 -- The Total Increase in Household Wealth Since April 2003. That's over 14 TRILLION dollars
$5,700,000,000,000 -- The Total Increase in Shareholder Wealth Since May 20, 2003
$863,654,000,000 -- The Total Amount of Tax Cuts Enacted Since Fiscal Year 2003
$625,000,000,000 -- The Total Increase in Federal Tax Revenues Since FY 2003 [$863,654,000,000 were removed from revenues by the Tax Cuts and $1,488,654,000,000 were THEN ADDED BACK IN DUE TO THE STRONGER ECONOMIC GROWTH THEY CAUSED and the 6,800,000 new jobs created, for a net gain of $625,000,000,000 so far, with more to come IF the prosperity is allowed to continue].
$783,890,000,000 -- The Total Amount of Additional Tax Cuts to be Returned to Taxpayers Through 2010
$207,788,000,000 -- The Reduction in the Deficit in the Past 29 Months DUE TO STRONGER ECONOMIC GROWTH
4.6% -- The Continuing Unemployment Rate, Lower than the averages of the 70's, 80's and 90's, which continues to fly in the face of the Media's agenda- driven focus on economic pessimists. Update: It just dropped to 4.4%
3.7% -- The Average GDP Growth Rate Since The Tax Cut Was Enacted (the long run average is 3.3%), Calculated Quarterly
$98,600,000,000 -- The Combined Income Gains for Shareholders From Dividend Increases AND Tax Savings from 2003 to 2005
$62,000,000,000 -- The Surplus of Capital Gains Tax Revenue Not Foreseen or Accounted-for by Old School Revenue Estimators
91,000,000 -- The Number of Individuals Owning Shares of Stock in America
23,000,000 -- The Number of Small Businesses Benefiting from Income Tax Reductions
6,800,000 -- The Number of Jobs Created Since the Tax Cut Was Signed Into Law -- which is more new jobs than the ENTIRE rest of the Industrialized West altogether!
12,000 -- The Magic Number of the Dow Jones Industrial Index -- Just Now Achieved
25 -- How many years the total number of dividend-paying companies were declining up until the 2003 Tax Cut
74.0% -- The Increase in the Number of S&P 500 Companies BOOSTING their Dividends AFTER 2002
164.0% -- The Increase in the Dividend Tax Rate which would occur IF the Income and Dividend Tax Cuts expire as the Democrats want them to
123.0% -- The % Increase in Dividend Income and Share Repurchases Since the 2003 Tax Cut
91.0% -- The % Increase of Stock Ownership among the Bottom Quintile of Income Earners Since 1995
65.0% -- The % of Voters Who Were Investors by the time of the 2004 Elections
$2,092 -- What the Tax Increase for a Family of Four With $50k of Income Would Be IF Tax Cuts Are Repealed, or are allowed to expire, as the Democrats want
200 -- The Number of House Members Who Voted Against This Growth-Generating Tax Cut as most Democrats seem unable or unwilling to grasp the meaning, let alone the importance, of these crucial facts of economic reality
50 -- The Number of US Senators Who Voted AGAINST This Growth-Generating Tax Cut -- THAT'S HOW CLOSE THE VOTE WAS
300,001,643 -- The TOTAL Number of Americans benefiting from the Republicans' 2003 Tax Cut.
I saw this on a Yahoo MB (FMT) and thought I would pass it along.
Vic
Just 20 more days like today and I'm RIGHT UP THERE!
Thank you for all of the great record keeping that you do.
Vic
Just pointing out the tremendous gains NDOL experienced shortly after the FF listing. Draw your own conclusions. I'll keep buying heavily here in the meantime.
Bought 40k so far today. Bidding for more every .005.
NDOL went from .10 to .23 in the first 2 days after the FF listing. That's a lot more tham a micro spark imho. It then continued to run to 1.57 after buyout talks started. (1st PR was 3rd day after FF listing).
1 EZM = .0952 LMC
>>Assume that the Revenues do not increase from 2005. 2005 were $58,592,331. A conservative profit magin of 20% will give you about $11.6mil.<<
That would be a bad assumption. The most recent financials available for Amstar Int'l show 10 months revenues as of 7/31/05 of 51,635,760 and a net LOSS of $ (729,880).
Refer to page 49:
http://www.sec.gov/Archives/edgar/data/1298163/000114420405032889/v027819_sb2a.txt
The most recent private placements in 2005 of stock were done at 1.00 per share. Insiders registered to sell unrestricted stock at 1.25 per share. All of this can be gleaned from the above link.
IMO, you shouldn't touch POFG above .015 per share. Better yet, wait for the r/s and new issue of Amstar Int'l to trade and try to get it below 1.00.
JMHO and good luck,
Vic
Here are all of the related filings if anyone cares to read them all:
http://www.sec.gov/Archives/edgar/data/1171689/000114420406044132/0001144204-06-044132-index.htm
According to the filings, the convertible can convert into common with 10 days notice. There doesn't appear to be any 144 restrictions on the converted stock. This all started 8/17/06 so a TA count if possible would be informative.
>>D. STOCK AWARD
You will be granted a Stock Award of 500,000 shares of Asia Global Holdings Corp. Series A Convertible Preferred Stock (“Preferred Shares”), convertible at 1 Preferred Share to 200 shares of Asia Global Holdings Corp. Common Stock (“Common Shares”). This award is payable upon the execution of this Agreement. The conversion, of any or all of the Preferred Shares, will take place 10 days after written notice by Executive is given to the Board of AAGH.<<
The right to convert started on 9/1/06.
It also appears that the 10 day notice can be waived:
http://www.sec.gov/Archives/edgar/data/1171689/000114420406044132/v055866_ex3-1.htm
This reminds me of UPDA when the CEO granted himself and assoc. 100 million shs at .01 when the o/s was only 62 mln shs and the pps was at .25 area. O/S now 195 mln+ and pps ~.075
Good luck,
Vic
Sell MTSN for EMFP. (double EMFP).
Good idea. I have a .60 bid in for 3000 GTC. I won't go above that this week. (Assuming no news).
Oh great, 2 of you outbidding me now! Just kidding. Since I already have a decent core position, just playing with getting cheapies as low as possible before the BIG move up.
Good luck on getting some!
Vic
2C, I put my .60 bid in and thought to myself "I'll give 2C about 5 minutes to ace me by a penny". You didn't disappoint, lol!
ETIM had a huge jump in o/s and float if this poster is correct:
Posted by: zeroluv
In reply to: allyaustin who wrote msg# 10846 Date:10/23/2006 10:59:50 AM
Post #of 10854
I just got a response from ETIM!
Mr. XXXXX,
O/S is around 934mm and Float is around 439mm...pinksheets.com will have all our correct post-split info updated by early next week they tell us.
Sincerely,
Clint Mytych
xxxxx <xxxxxx@yahoo.com> wrote:
Mr Mytych,
I am a stockholder in your company and must say the past few days have been amazing for all of us. I would like to know the share structure on the company and the TA informed me they do not release any info. The AS is 1.2 billion but not sure on the OS and float. Thanks for your time and I wish you the best of luck.
Check out the Millionaire Players Club
http://www.investorshub.com/boards/board.asp?board_id=5414
><>< Z ><><
Looks like the Germans are loading their initial inventory for FF listing. They learned their lesson with NDOL which went from .10 to .23 (USD) in the first 2 days listed there (4/3 to 4/5/06) BEFORE any mention of a buyout/merger.
Filled my 3k to buy at .75. ;)
Try CSHDE.
I think the funding issue is why the new guy was put in charge. He has good expertise in that area:
"WASEEM A. SAYED PhD took over as President and CEO from Mr. Kim Fuerst as of July 1, 2006. He was also appointed a Director effective the same date. He has been providing consulting services to publicly traded companies especially those operating assets in North and/or Central and South America. He participated in a $12.65mm, 9% Convertible Senior Subordinated Debenture for Saba Petroleum Company. He provided financial public relations to Saba Petroleum Co., and during 1 1/2 years of service was instrumental in increasing market cap from $15mm to over $300mm while liquidity increased 1,000 fold. He worked with Raptor Networks Technology Inc. Management to attract $7.35 mm of equity funding during the first six months of 2004."
Good luck,
Vic
The info on the 10K is the same as before with 1 notable difference: "The Federal 1-31 well, is about to be re-entered waiting on rig availability."
That would indicate multiple payzones are going to be tested above or below the current payzone imo.
The play here is the same; lots of 3D identified oil and gas in multiple locations on their property. Up to 20 million barrels net to CWYR (50 MMboe gross).
With 22 million shares fully diluted that is up to $20 a share reserve value to them.
All we are waiting for is funding and drilling to commence. Once that happens the share price will start to fly imho.
Even though these guys are slow and deliberate, the wait should be more than worth it. I'm long 100k+ and still buying on weakness.
Good luck,
Vic
Doing well here. Saw a joke I thought I would share:
And you thought lawyers didn’t have a heart……….
One afternoon a lawyer was riding in his limousine when he saw two men along the roadside eating grass. Disturbed, he ordered his driver to stop and he got out to investigate. He asked one man, "Why are you eating grass?"
"We don't have any money for food," the poor man replied. "We have to eat grass."
"Well, then, you can come with me to my house and I'll feed you" the lawyer said.
"But sir, I have a wife and two children with me. They are over there, under that tree."
"Bring them along" the lawyer replied. Turning to the other poor man he stated, "You come with us also."
The second man, in a pitiful voice then said, "But sir, I also have a wife and SIX children with me!"
"Bring them all, as well," the lawyer answered.
They all entered the car, which was no easy task, even for a car as large as the limousine was. Once underway, one of the poor fellows turned to the lawyer and said, "Sir, you are too kind. Thank you for taking all of us with you."
The lawyer replied, "Glad to do it. You'll really love my place. The grass is almost a foot high."
Thanks, I didn't see that before now. That is very significant to the future of Nucon methinks$$!
Thanks for the offer, but that won't be necessary. We're all big boys here. Besides, I kind of like playing the high bid in the low bid game, lol!
Looks like I'm next batter up at .77
Come home to papa!!