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Fleer - housing chart
They say the market looks ahead 6+ months. The talking heads have been saying the worst is in for housing. (I think it is going to get uglier than they think). Perhaps a combination of shorts covering and optomistic buyers have caused the bounce. I say it is too early to call the housing market bottom.
I feel that the interest rates will not go much lower. The dollar will get weaker as we go. China and India are stronger than people think, and will not tank as the U.S. housing market tanks. Hedge funds and foreigners will buy our markets, real estate, and any commodities they can get their hands on as they want something "real" for the dollars they hold. Would you rather be holding zinc, nickel, moly, uranium, gold, OR U.S. dollars????
I can send you a good pdf on Canadian and US outlook, just send me a PM with your email and I will put you (or anyone on this board) on my email list for Basic Points and other pdf's that I can't post here.
Good Luck!
Kipp
SAC Capital Buys Phelps Stake, to Oppose Takeover (Update1)
By Danielle Rossingh
Dec. 11 (Bloomberg) -- SAC Capital Advisors LLC, the $10 billion hedge-fund firm run by Steven Cohen, said it bought 5.1 percent of copper miner Phelps Dodge Corp. and will vote against its proposed takeover by Freeport-McMoRan Copper & Gold Inc.
SAC, based in Stamford, Connecticut, reported its shareholding in a Dec. 4 filing with the U.S. Securities and Exchange Commission. The terms of the deal between Freeport and Phelps Dodge, the world's biggest mining takeover, ``would not provide full and fair value'' to shareholders, SAC said.
Freeport-McMoRan on Nov. 20 agreed to buy each share of Phoenix, Arizona-based Phelps for $88 in cash and 0.67 of a Freeport share. The deal would make New Orleans-based Freeport the world's largest publicly traded copper producer, leapfrogging Australia's BHP Billiton Ltd.
Buying Phelps would give Freeport greater leverage over suppliers and better prospects for new mines after the price of copper, used in pipes and wires, more than tripled over the past five years. Copper in London traded at a record $8,800 a metric ton in May.
Shares of Phelps Dodge have gained 2.7 percent since Nov. 20, closing at $123.67 on the New York Stock Exchange on Dec. 8 to value the company at $25.2 billion. Freeport's stock closed at $61.81. They have climbed 11 percent since the deal was announced.
To contact the reporter on this story: Danielle Rossingh in London at
Berliet - Great Buffet Article!
Everyone should read that.
Do you think the hedge funds supplied a lot of the money for the high risk real estate lenders. Do you think they used zero interest yen, converted it to dollars and lended it to real estate lenders? Who is really going to lose out here in a real estate bubble burst? Are the bag holders going to be foreign hedge funds????
Kipp
Good Housing Article
http://news.goldseek.com/MillenniumWaveAdvisors/1165766520.php
Hedge Funds $1.5 Trillion
12/08/2006 09:54 PM | By Domluke D'Silva, Special to Gulf News
Hedge funds as an asset class have attracted billions of dollars from investors. Recent estimates from Hedge Fund Research Inc put total assets under management in the hedge fund industry at over $1.5 trillion, more than doubling in size over the past three years alone. Projections are for investors to continue pouring money into them, even though the total number of hedge fund managers may taper off with industry consolidation.
Access into many of the top-tier hedge funds is restricted and difficult to get into even for investors who have the money. Some successful hedge funds, have even resorted to returning investor capital, preferring to trade their own proprietary owners' money and maintain their privacy.
The allure of hedge funds has not been restricted to sophisticated investors alone. Nobel winning economists, mathematicians and quantum physicists, high flying investment bankers and traders have been enticed into quitting academia or otherwise lucrative big city jobs to set up their own hedge fund shops. And with good reason too. Some of the top hedge fund managers have been estimated to earn over $100 million in a single year.
For instance, the Medallion fund managed by James Simons, a renowned mathematician, has had an astounding track record. An article in the Wall Street Journal (July 1, 2005) reported that the fund had delivered an average 34 per cent annually since 1988, making it one of the best performing hedge funds during that period. It had already been closed to new investors for 12 years, and was now returning investor's money leaving J. Simons and his employees as the sole investors. Trading has certainly paid off very well for Dr Simons. It is estimated he has amassed a fortune of over $2.5 billion.
Closer home, Dubai is strategically positioning itself as a financial centre of choice for the managed funds industry, which includes hedge funds.
The recent enactment of the Collective Investment Law 2006, in the DIFC, is a positive development, which will allow the managed funds industry to operate from within a flexible yet world class regulatory centre. With hedge funds coming under increasing regulatory scrutiny world-wide, the industry will find Dubai's value proposition interesting, allowing them to operate from a respected regulatory environment, while maintaining the benefits of an "off-shore tax free zone".
So what is a hedge fund? How do they differ from mutual funds? What strategies do they employ?
Essentially a hedge fund is an unregulated or lightly regulated private investment fund which seeks to achieve superior returns by employing innovative strategies and unorthodox investments.
Strategy
A simple strategy that a hedge fund may use is short-selling: where the fund looks to profit from a stock dropping in value. The overall objective in a long-short hedge fund, for example, would be to mitigate portfolio volatility and hopefully deliver positive absolute return by profiting from both a rising (long positions) and falling market (short positions).
They also tend to be constituted as private limited partnerships, or limited liability companies, with the hedge fund manager as general partner, and investors into the fund typically being limited partners. The partners/investors pool their capital in the fund and the general partner is mandated to make investments according to an agreed upon strategy. General partners will usually co-invest their personal funds together with the investments from other limited partners. This acts a confidence booster for investors knowing the manager has his own money in the pot.
With the potential to earn a positive return irrespective of market direction, it is understandable that investors will continue allocating capital to hedge funds.
Illustrating with a simplified example of a hypothetical investor, Li, who holds a long-only technology mutual fund benchmarked against the Nasdaq index. Assuming the Nasdaq has a particularly severe fall of -10 per cent in a given month, but the long-only mutual fund drops only minus five per cent. It could be argued that the fund manager actually did a commendable job by not losing as much as the benchmark, albeit being down minus five per cent on the month. However, Li still feels the pain of loss of capital, irrespective of her manager outperforming the benchmark.
On the other hand, a long-short technology hedge fund manager, who delivers a return of two per cent against an (assumed) benchmark return of five per cent, will have under-performed his relative benchmark by three per cent. Nevertheless, his investor is at least relieved she has not lost money. Alternative asset classes, such as real estate and hedge funds, may also provide diversification benefits by balancing overall portfolio volatility, through non-market correlated returns.
It is important to note that hedge funds are not suitable for all investors, and entail inherent risks such as loss of capital and illiquidity, as well as employing complex trading strategies. Reputable hedge funds will only accept investments from accredited investors, and even then it is important that the investor carries out proper due diligence with regard to the manager's background and current operation.
With market pundits talking of a possible US economy slowdown next year, and the ramifications this can have on global markets, the hedge fund growth story can only get more interesting from here.
- The writer is CFA charterholder and a board member of CFA Emirates.
LionOre IR presentations:
Here is a link to LionOre IR presentations:
http://www.lionore.com/investors/presentations.asp
Kipp
Wade - Don Coxe and markets
The reason Coxe is changing his mind is because things are happening that have never happened in history. Bonds and global equities are going up, both at the same time, WHILE nearly all major economic powers that count are RAISING interest rates. The inverted yield curve has been a predictor of a recession something like 93% of the time. Coxe says there is too much liquidity (money) in the world markets and this is causing assets to be bid up without runaway inflation.
The other thing that is going on is that the gowth of the Chindian economies are making the U.S. economy less of a factor. It used to be if we got a cold, the world got the flu, not so any more.
As far as timing the market and worrying about getting in and out next week and so on, I have no opinion about that. What is working best for me is trying to find companies that are increasing production of commodities quarter over quarter and then sticking with them. LionOre is a great example of my kind of company. Look at this pdf and think about what will happen if Coxe is right, if we have a couple of quarters where the GDP is near zero, and then the economy takes off again. You will have more chances to add to commodity stocks.
http://www.lionore.com/pdfs/uploads/presentations/6707_2007%20Guidance%20Presentation%20-%20Dec%206%...
I am betting that the global economies are going to continue to expand even if the U.S. pulls back. I am willing to stick it out to see if I am right and get rewarded for finding and investing in companies like LionOre.
Good Luck!
Kipp
Donald Coxe Friday Call
You have to really pay attention to this one to catch his drift. Some hedge funds are about to wind up owning the house of pain!
http://events.startcast.com/events/199/B0003/#
Kipp
Cornerstone Newsletter Natural Gas DD
This weeks report:
http://www.cornerstoneenergy.com/marketnews/mi120806.pdf
Snow is melting here in Denver.
Kipp
Great TRGD.PK news!
I know what I am going to do.
May the force be with you on your quest for $3.00 10 bagger. The question is, will you sell??? I remember how much you like mold!
Buy and mold Bob the Bubba Banker from Seattle.
Well Done,
Kipp
Bob,
Any word on the financials yet?
I told my Dad to buy this when I did at $.40ish. I got spooked and sold my shares in the $.60's. He still has his and I want to help decide what he should do since I recomended it. I am really interested in audited financials we can hang our hats on and feel good long term. I hope this one works out for you, I mean it, you deserve a big time 10 bagger like the mdpa.ob days!
Kipp
RNO - New Research Report $3.70pps target
http://research-ca.bmocapitalmarkets.com/documents/1249C812-5DD5-497C-A32A-932C85C0F3F8.PDF
I can't believe the future price these guys project for nickel:
" Rio Narcea shares are now trading at a 3% discount to our 10%NAV estimate of US$2.70 at nickel prices of US$11.02/lb in 2006, US$12.50/lb in 2007, US$8.50/lb in 2008, and US$4.30/lb in 2009 and the long-term."
Kipp
riskanalyst - yes I had some lemons
If you look at my list you will see High Plains Energy and Rival Energy.... HOUSE of PAIN!. Right at the end of 2005 I got out of HQSM scam seafood company, don't even like to talk about that one. No more Chinese stocks for me.
If you are really curious you can go back through my posts and see a few times when I made some good moves.
Like these on EZM:
http://www.investorshub.com/boards/read_msg.asp?Message_id=9402641&txt2find=ezm
http://www.investorshub.com/boards/read_msg.asp?Message_id=9702180&txt2find=ezm
http://www.investorshub.com/boards/read_msg.asp?Message_id=9707444&txt2find=ezm
tmcal - many of my 2006 stock trades
ARABIAN AMERICAN DEV CO
ASPEN EXPL CORP PV$0.005
B S D MED CP DEL PV1CT
BLUE GROUSE SEISMIC
CALL EBQ MAR 0025
CALL EOG APR 0075
CALL ZCG JAN 0017
DET NORSKE OLJESLSKAP AS
EUROZINC MINING CORP COM
EXPEDITION ENERGY INC
HIGH PLAINS ENERGY INC
HUDBAY MINERALS INC
MELROSE RESOURCES
PA RESOURCES AB
QUEENSTAKE RES LTD YUKON
REPLIGEN CORP COM
RIVAL ENERGY LTD
SEADRILL LTD
SHORE GOLD INC
TASEKO MINES LTD NPV B C
THOMAS GROUP INC COM
TRANSGLOBE ENERGY CORP
TRISTAR OIL AND GAS LTD
UCI MED AFFILIATES NEW
WT03 08 TRICO MARINE SVC
tmcal6 - 200% return ytd
I have done something that goes against everything I ever heard from any mutual fund or financial advisor. When I met Bobwins several years ago and he started this thread with Hweb on Raging Bull, it helped me get the confidence to fire my financial advisor at Merrill Lynch and go it alone. Nobody likes my money more than I do! Instead of being diversified, I concentrate on about 6-12 stocks at a time. Of those, one might be as much as 33% of my total $. My big hits right out of the gate were MDF, bought when it was $.30 and I sold all of it at $2.88, and TGA at a buck or so and out at $5. Another was NGS, private placement warrants at $3.50 sold at average of $24ish. I loaded up on DNO.OL, PAR.OL, SDRL.OL, and ARD and sold most of them to get into base metals almost a year ago. (Lost money on EOG and EPEX warrants, warrants are not good for me!) I also went "all in" on VPHM at $4.50ish and sold around $22. I jumped on zinc early and bet the farm on EZM, still holding all of the shares I got at an average of $1.24/shr, now LMC is 28% of my portfolio and I even margined a little to get more LIM.TO. Also BWRLF and HBM are nearing long term holds for me (over 1 year).
These are the stocks I currently hold or am thinking of buying soon. I do not own uranium yet and I think there are 5 on this list.
ARD BLE.TO CXX.V FNX.TO FRG.TO HBM.TO IUC.TO KMR.L LBE.V LIM.TO LMC PBG.TO RNO ROK.V STM.V SXR.TO TRGD.PK URZ YAR.OL
I also have ARSD.OB in case the Saudi mine is for real.
I am following sector trends and buying under known, under owned, cheap, producing companies with profits when possible. I hesitate buying story stocks big time. I feel I have much more pacients and can stand to sit through pull backs more than most people here. I do not panic when stocks sell off because I feel like I do enough reading and investigating to know when it is just normal profit taking vs. a company failing to execute.
This post will probably start a fire storm of what method is right or wrong. There are so many ways to do this and I don't ever critisize anyone for how they are going about trying to make money in the market. My way works for me and I am sticking with it until it doesn't.
Good Luck To All, However You Decide TO DO IT!
Kipp
Yes I can email Basic Points to most of you. For some reason my new company firewall doesn't like aol.com or comcast.net email addresses. I tried to email it to Wade and it kept bouncing back, everyone else got it fine. Just PM your email address and I will send it to you. It's GOOD STUFF.
Kipp
Len - You turn your furnace on yet?
Zero here in Littleton, CO this morning. I am burning wood pellets and corn in my new Harmon stove....toasty warm!
I figure I know the answer to my question.....your family must suffer so.
Kipp
Teck-Cominco IR Presentation
This is a great picture of base metal market. Also interesting China slides.
http://www.teckcominco.com/presentations/rv-merrill-lynch-sep06.pdf
Kipp
Donald Coxe back from India
Here is link to weekly call - Great as always!
http://events.startcast.com/events/199/B0003/#
Kipp
11-20 LionOre IR Presentation Link
This is a great 8 page snapshot of a company that is going to do very well in the near future.
http://www.lionore.com/pdfs/uploads/presentations/9146_Investor%20Presentation%20-%20Nov%202006.pdf
I picked LIM.TO along with a bunch of other base metal stocks in the PSL4 and with no trades sit with #4 spot and 42.6% return. I also own all of my picks in my actual portfolio and am sitting just north of 200% gain for this year. I strongly believe that the bull run in commodities is far from over. The low P/E's in these stocks stem from the Wall Street establishment thinking the cycle has peaked, and a flood of new production right in time for a housing crash will kill metal prices. I say the countries of the "BRIC" will consume far more base metals than will be offset by weaker housing. 20,000,000 Chinese moved from rice patties to more urban dwellings. Another big draw on metals is the transition from traditional energy to renewable sources. Think about all of the metal going into ethanol, LNG, coal gasification, nuclear, biodiesel, drilling rigs and ships and on and on. On another front, the dollar is getting weaker, causing dollar priced commodity prices to rise.
All in all I see no better place to put my money than in companies that own, hunt, process, and service physical commodities that the world needs to progress.
Good luck to all of you and thanks to everyone for contributing to this thread. It has and continues to be the driving force in a life changing financial position for me and my family.
Kipp
ROK.V Loaded up yesterday and today. I need to diversify a little from nickel and zinc as I was 80% in about 5 stocks LMC, HBM, LIM.TO, RNO, BWLRF, all big winners this year but never too smart to have so manny eggs in so few baskets. I sold some RNO to buy the ROK.V. At this point I am waiting for some of the uranium hype to simmer down so I can get a little exposure to that.
Go metalheads!!
Thanks to all that contribute here.
Kipp
I will post Cornerstone report on Fridays. Kipp
Bob - Let us know trgd news on audit. I am waiting for that info to decide what to do.
Thanks!
Natural Gas Data from Cornerstone
I have been getting this pdf every Friday. Very detailed and saves me from checking many sites for all the data.
If you find it usefull let me know and I will post it here on Fridays.
http://www.cornerstoneenergy.com/marketnews/mi120106.pdf
Kipp
Bobwins AUN.V going nuts
I never got any a few days ago when you metioned it. Did you ever take a closer look?
Snow must be a wild event for the Seattle folks!
Kipp
Metalheads and goin' down to Bobwins
Yes, great couple of days for us metalheads. However, last week was a trip to the woodshed for me. Also got thrashed by Bobwins in the PSL4. I have high hopes for base metals now that we seem to have corrected for the time being.
Looks to me like there is oil sloshing everywhere and I don't think a little bad weather in Alaska is enough to sustain a crude spike. I think oil is going to come down hard in the not too distant future. Warm weather won't help the price either. Hard call to make, but I see bias downward.
Have a great holiday everyone! Lots to be thankful for!
Kipp
Firecracker - I assume you are the "Firecracker" from Yahoo EZM and RNO boards. If so, welcome to the best group of investors on the internet. "Bobwins" is one of several leading founders of a group of us that post on several boards, the main one being "Value Microcaps" found at this link:
http://www.investorshub.com/boards/board.asp?board_id=3251
All you need to do is type the tickers EZM, RNO, HBM.TO, BWLRF and LIM.TO in the "Search This Board" box and you will see that we have been working on the metal stocks since they were really cheap!
I encourage you to be a part of our group and hope you will contribute your opinions on stocks you like.
Good Luck,
Kipp
11-22 8:17pm
Len - Call it "Z"-Day - Zero
I don't think the LME warehouses have ever been at zero across the board for any metal, not positive about that? It will be very interesting if the inventory does get so low that producers ship direct to customers and no metal winds up in any LME warehouses. I think your date will continue to move sooner due to panic buying and companies building strategic inventories.
Some day supply will catch up and the price will crash. I think that day is quite a few quarters away.
Thanks for the projections.
Kipp
Yara reports strong results and strategic growth
Oslo (2006-10-20): Yara International ASA reports strong financial results for third quarter 2006. However, increased energy costs were only partly offset by improved market position and higher prices. During the quarter Yara established a platform for growth in the world's largest nitrogen fertilizer and chemicals market via a strategic partnership agreement with China BlueChemical.
Yara reports third-quarter net income after minority interest of NOK 1,403 million (NOK 4.68 per share), compared with NOK 846 million (NOK 2.70 per share) in the third quarter last year. Third-quarter operating income was NOK 1,149 million compared with NOK 783 million in the same quarter last year. EBITDA for the quarter was NOK 1,947 million compared with NOK 1,505 million in the third quarter last year.
"During the third quarter Yara delivered a strong financial performance and improved its market position in Europe and Brazil. Yara's underlying result, excluding a gain from the sale of its ammonia shipping fleet, is down from last year. This is due to increased energy costs, which are now declining from a second-quarter peak. A tight grain supply-demand balance and increasing grain prices represent good fundamentals for the upcoming fertilizer season," says Thorleif Enger, President and CEO of Yara International ASA.
The Downstream segment's fertilizer sales volumes increased 4 percent on last year, with the acquisition of Fertibras in Brazil generating most of the growth. Downstream's market position in Europe continued to strengthen, with sales in line with last year, while total market deliveries are down 5 percent in Western Europe. Industrial product sales continued to grow in the third quarter. The higher volumes, together with better margins on nitrogen chemicals, significantly improved the Industrial segment's results. Finished fertilizer production was 2 percent down compared with last year due to reduced production in Europe. The Upstream segment's results were positively impacted by the sale of the ammonia shipping fleet, with a net gain of NOK 832 million.
Following the recent decline in oil prices and increased proportion of Yara's natural gas sourced form low-cost regions, Yara's gas costs for the next half-year are expected to decline.
Going forward, reduced grain stocks and increased grain prices improve the prospects of a rebound in nitrogen fertilizer consumption this season. The positive indicators for global demand development reduce the risk of over-supply from new capacity coming on-stream next year.
For further information
The entire quarterly report and the presentation material used during the press and analyst conference are available on
http://www.yara.com/en/investor_relations/financial_reports
YARA Website and PR
http://www.yara.com/en/news_room/press_releases/index.html
YAR.OL IS A WINNER GUYS
Read this post I made to Bobwins last winter:
http://www.investorshub.com/boards/read_msg.asp?Message_id=10808686&txt2find=yara
It took a while but now it is catching fire!
Kipp
Len - You will have to try hard to match my all metal beating today! Biting the leather strap and taking it.
Kipp
Mining: All that shines is not always gold
Strong zinc prices help Vancouver-based Lundin Mining profit triples to $30.7-million US
Strong zinc prices helped Lundin Mining Corp. triple its third-quarter profit compared with a year ago as the company completed its merger with EuroZinc Mining Corp.
In its last fiscal quarter before the merger, the Vancouver-based company reported a third-quarter profit of $30.7 million US or 75 cents per diluted share, up from $9.6 million or 24 cents per share.
"In enhancing the size of the company we will be able to deliver greater access to projects and increase share trading liquidity," Lundin chief executive Colin Benner said Thursday in a teleconference.
Benner said that the new company's "strong financial position and substantial generation of cash flow" will allow them to fund an "aggressive" growth strategy.
He anticipates that the new, merged company, which this week joined the S&P/TSX 60 Index of large cap Canadian companies, will be an attractive vehicle for investors seeking a mining company which has growth prospects, rather than sheer size, as a main feature.
Lundin closed its merger with Euro-Zinc Mining Corp. on Oct. 31 to create a company with a stock market value of $4.1 billion.
The new company has four producing mines in Europe and a fifth scheduled to come into production in 2007.
"We believe that this transaction will see us position the new company to fill the equity market gap that has been created recently [through a series of big-name mergers in the sector]," Benner said.
The company reported sales during the three months ended Sept. 30 were $98.9 million, up from a year-earlier $48.7 million.
The improved results were due in large part to stronger metal prices and higher production than a year ago. The company said the average price for zinc, the company's main commodity, increased from 59 cents per pound in the third quarter last year to $1.53 per pound in the latest quarter. Copper was up 104 per cent compared to the same period last year.
Benner said Lundin is mulling its forward copper sales or hedge program with the idea of increasing hedging and locking in prices that remain above $3 per pound.
However, Benner said the company is sufficiently bullish on the price of zinc that it won't consider locking in future sales prices.
"We certainly will not take away the opportunity for shareholders with respect to zinc," Benner said.
"We believe the zinc market will be stronger for longer and as a consequence we will not be doing anything in that area at all but we are looking hard at copper."
Benner noted that when he and Lundin president and chief operating officer Karl-Axel Waplin were touring world markets to sell the EuroZinc deal, they expressed caution about future copper prices, and optimism about zinc.
"Karl and I made it very clear in our road show that we believe that copper probably has a greater chance of going to $3 than it does to $4, whereas we thought that zinc has a better chance of going to $2 than it does at $1 -- and so far we've been proved out right because zinc is over $2 already.
Zinc closed Wednesday at $2.03 US per pound on the London Metal Exchange, down slightly from $2.07 on Tuesday.
Meanwhile, in its last quarter reporting as a separate company, EuroZinc said its net earnings more than doubled compared with a year ago to $64 million US or 11 cents per diluted share on strong copper prices.
ssimpson@png.canwest.com
- - -
LUNDIN MINING CORP.
Lundin Mining, created in 2004, owns four producing mines: two in Sweden, one in Ireland and one in Portugal. Its head office is in Vancouver with an executive management team in Stockholm. Its shares are listed on the Toronto Stock Exchange.
Current market capitalization: $4.1 billion
COPPER'S RISE
Copper futures trading on the commodities market of the New York Mercantile Exchange have risen dramatically over the past year.
ZINC TAKES OFF
Higher prices for zinc futures trading on the London Metal Exchange over the past year have driven soaring profits for Lundin Mining Corp., which completed a $1.58-billion merger with EuroZinc Mining Corp. last month.
LUNDIN'S QUARTERLY REVENUES
Q3 2006: $98.9 million US
Q2 2006: $112.9 million US
Q1 2006: $91.8 million US
Q4 2005: $63.8 million US
Q3 2005: $48.7 million US
Zambia's biggest copper mine suspends production due to pollution
Zambia's biggest copper mine company, Konkola Copper Mines (KCM) has suspended production of copper at its Nchanga plant following the closure of its Tailings Leach Plant in Northwestern province.
The closure of the plant comes after a directive for the mining company to close its leach plant, which developed a leak leading to poisonous silt contaminating water supplies in the area.
KCM Spokesperson Sam Equamo said Saturday the company had headed the directive from the Mine Safety Department and the Environment Council of Zambia.
He said as a result of the closure of the Tailings Leach Plant the Nchanga concentrator has had to stop operations since it is unable to pump tailings to the Tailings Leach Plant.
The closure has resulted in losses of up to 352 tons of finished copper a day representing about 10 billion kwacha (2.56 million U.S. dollars).
KCM, jointly owned by the Zambian government and Indian mining firm Vedanta resources, which has a majority stake and is managing the mines, halted operations to facilitate maintenance.
Three people have been admitted to hospital after they ate food made of the contaminated water.
A disaster management unit of the government has dispatched tankers to provide clean water to the residents.
11-22 11:59am
ARSD.ob is going to report this week. I think they will end the year with $.45-.50/shr earnings. If they can avoid disappointing news on their mining claim I think they will move higher. As to the rest of my picks, they are going to sink or swim with the sentiment of metals investors. Good luck Bobwins!
Kipp
Yes Don Coxe Fan - I will email anyone that wants the most recent "Basic Points" report in pdf. Just send me a P.M. It is well written and will give pause to anyone that thinks the raw material boom is at it's peak.
Kipp
Wade
We all have our opinions and I respect all.
It is my opinion that there are still significant gains to be made in "unhedged" base metal companies that have large reserves in "safe" countries around the world. I feel that there are several ways that my stocks will benefit:
-Rising metal price due to higher demand
-Being acquired by other companies or private equity
-Buying back their own stock
-The current belief that the commodity boom is ending being dead wrong
-The weakening of the U.S Dollar coupled with inflation
If I am wrong and none of the above are in the cards for 2007 and beyond I stand to give back some of the money I have made in the past year+. On the otherhand, if I am right, valuations at these low P/E's could rocket.
I do think that the circumstances surrounding the current boom are way different than previous ones for all the reasons stated at the end of that report.
We shall see what we shall see!
Good Luck,
Kipp