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cl, do you really think the FED will have the option to raise taxes next year?
cl, do you really think the FED will have the option to raise taxes next year?
is that your duck?
Dear Comrades In Golden Arms,
The gold price has done all of what Erik brings to our attention, but this is NOT a cause for celebration.
The action of gold in the face of the massive commercial dealers short position means that they have finally taken on a force much stronger than the ordinary trader.
The other side of gold is sovereign buying on all reactions, not seeking one price, but rather taking supply away from the cash market on a step ladder basis.
This occurred twice in the 70s, first when the commercial dealers took on France, and finally in 1979 when they met the Saudis in the market place.
The Fed has no stomach nor should they have to carry on an economic war over gold.
The dollar has changed significantly over the last year, becoming the currency of selection for the carry trade. We know that the propaganda that the dollar was a place of safe refuge is silly in light of the weakness in the recovery. Last Friday that message was delivered to the market loud and clear.
It may even be possible that general equities are being buoyed by the soft dollar in light of Quantitative Easing as there is historical precedent for that.
Clearly the recovery now being predicted by equities is a total fantasy. What we do know is the UN, IMF, BIS, G20, Russia, China, India and Brazil amongst most other major countries have publicly called for an alternative to the US dollar.
Wall Street is clearly out of control if bonuses are a measure of saneness.
The reason why I suggest that today's market should scare you, and not be a cause for high five because of the implication of the event.
Hyper-inflation has always been a currency event, not an economic event. The currency event has always been, for whatever reason it occurred, a loss of confidence phenomenon. Clearly confidence in the US dollar and its management is slipping. Historically when this currency event comes about the transition is extremely fast.
We have been doing a countdown to the beginning of the end, or that process acceleration. The are 33 days to go.
Gold is then off to $1224, $1650 and then on to Alf's numbers.
Have you prepared yourself for the implication of such a gold price?
Respectfully yours,
Jim
Greetings Jim!
The long-term breakout above that psychological resistance at $1,000 was finally confirmed with today's huge move higher in gold.
Additionally, the Gold Currency Index confirmed today's breakout with a move of its own to new highs (see chart linked below). From a technical perspective, today's action is very significant as it both reconfirmed the breakout from the pennant in early August and confirmed the long-term breakout to new highs for the secular bull market. The next objective will be a weekly close at current levels or higher, after which we are very likely headed to much higher levels.
hi Soapy. sell me Pembina. How safe is the distribution going forward?
all bull markets have to climb a wall of worry..
I don't know people are brain dead or not,
just look at Stockhouse MTO board... about just a dozen messages during last week !!
this is totally off the radar, for now...
Kipp, I love the Coxe stuff you send me , but I requested the AGT report from Haywood. Sent you an email to remind you as well, and no report.
I use IB as well... yes its good pricing and lousy non-existant service !! . If I were you I would do some carry trade buying the AUDUSD, but maybe not just now. AUD will be very sensitive to an overall market correction.
Which I expect to be shortlived
BWTFDIK
I´m in Europe. I´ve had a line of credit to borrow USD for many years and I have funded my purchases of US stocks or Canadian stocks against these USD. Worked fine until last year when EURUSD fell from 1.60 to 1.24. Luckily I did not lose my head and stayed calm. Now I´m only starting to unwind the USD short "just in case"... and also to be moving the credit facility to a CAD line of credit. Much better for me to buy the CAD stocks on TSX than be chasing the crappy US Pinksheet listings...
GDMN.pk/AUM.TO: post-bankruptcy plays are great when you can buy a great bargain from ex-bondholders that know nothing about the stock or the underlying business. this GDMN of yours brings me sweet memories from the time I bought a lot of Insteel, IIIN, which was a post-bankruptcy play then as well. In due time I expect the chart for GDMN to look like IIIN´s from 2004 !
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=IIIN&sid=0&o_symb=IIIN&freq=2&time=13
Bob, have you managed to get the report? Seems Mr. Winslow wont make it available to non-clients for 2-3 weeks
I started covering my huge short USD position this week too. Just in case all hell breaks loose. But keeping all exposure to junior golds
Yes... GRVY is running indeed, but in the wrong direction!!!
is anybody getting in Colossus?
Colossus Minerals Inc. Announces CDN$57,500,000 Bought Deal Financing
4:49 PM ET, September 30, 2009
TORONTO, CANADA, Sep 30, 2009 (Marketwire via COMTEX) -- NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Colossus Minerals Inc. (CSI) (the "Company" or "Colossus") announced today that it has entered into an agreement with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. (the "Lead Underwriter") and including Thomas Weisel Partners Canada Inc., Canaccord Capital Corporation, and GMP Securities L.P. (together with the Lead Underwriter, the "Underwriters"), with PowerOne Capital Markets Limited to act as a selling group member. The Underwriters have agreed to purchase, on a bought deal basis, 10,000,000 common shares (the "Common Shares") of the Company, at a price of CDN$5.75 per Common Share (the "Offering Price") for aggregate gross proceeds to Colossus of CDN$57,500,000 (the "Offering").
The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 1,500,000 Common Shares at the Offering Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional CDN$8,625,000 will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be CDN$66,125,000.
The Common Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada, except Quebec.
The net proceeds are intended to be used to fund expenditures on the Serra Pelada project and other exploration activities and for general working capital and corporate purposes.
The Offering is expected to close on or about October 22, 2009 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Colossus Minerals Inc. (CSI)
Colossus is a minerals development company focused on gold and platinum group metals in Brazil. The Company is currently focusing its efforts on the high grade gold-platinum-palladium Serra Pelada project in Para State, Brazil. Between 1980 and 1986 Serra Pelada was host to the largest precious metals rush in Latin American history. Coverage by 60 Minutes of this famous mining rush can be viewed at the following link: http://sixtyminutes.ninemsn.com.au/article.aspx?id=299887.
On Behalf of the Board of Directors
COLOSSUS MINERALS INC.
Ari Sussman, Chief Executive Officer and Chairman
These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. Accordingly, this news release does not constitute an offer for sale of securities in the United States.
SOURCE: Colossus Minerals Inc.
Colossus Minerals Inc.
Ari Sussman, Suite 2500, 130 King Street West
Toronto, Ontario, Canada, M5X 1A9
(416) 643-7655
(416) 643-3890 (FAX)
Email: info@colossusminerals.com
Website: www.colossusminerals.com
Copyright (C) 2009 Marketwire. All rights reserved.
lol. when you do, call me to write the preface to the book for you. I´m an outright specialist when it comes to "Stupidity", i´ll gladly help!
Cheers!!! have one on me ! do you still keep some IAE? our time must be due..
too complicated for me if you cant bother making public comments
and you are in IAE for long I believe?
did not find any comment on your blog..
arnie, are you in BNK?
yeah I know Hank. This is decent value here. but nothing else. As far as it doesnt start a proper rally I´m not even considering buying back any shares.
I´ll do. thank you
GRVY.. what an impressive run so far!!! let me know when Falconcrap throws you another bone. I Might short it. roflmao
AUM.TO: friendly reminder:
better hurry up with that DD if you dont want to end up buying in the double digits...
well, its good to have strong convictions. good luck! you´ll need it until this thing gets some decent volume. not the case right now. I might buy for a breakout on volume and then buy back some and use a tight stop loss
OGC.TO is a funny outfit. They change plans every 2 months. or 2 weeks... now they wont scale it down? (just the opposite of what the philipino guy said 2 weeks ago) good to know.
did they find a CEO yet?
lma.to new 52 week high!!! great, I had a buy order I totally forgot in at 1.20 and got filled Friday. I will put in a new low ball order right now and try to forget about it too
this looks the best way to play the markets sometimes!
Did it mention if its ever going to move? it´s sure frustrating holding Ithaca...
Hank...I bought in August http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40307930
and sold when you sold, so I did good on this
now trying to figure out if its worth another go...
AGT: Did anyone get access to the report by Haywood?
YoungMillionaire, at what time GRVY was featured on Falconstocks? Was it on Friday? Or is GRVY the "New Penny Stock Pick" on Sept 22, 2009 as per "recent updates" on the falcon site? TIA
very decent terms
gotta make the G20 clown summit look good..
On May 22, 2009, the Company announced the completion of its previously announced private placement financing of units (“Units”) of the Corporation for gross proceeds of $2,542,150 million through the issuance of 18,830,740 Units at a price of $0.135 per (“Offering Price”). Each Unit is comprised of one common share of Allana and one common share purchase warrant (a “Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.20 at any time prior to May 22, 2011. The net proceeds of the financing will be used to fund exploration and development of Allana‟s potash project in Ethiopia and for general corporate and working capital purposes. The common shares (and the common shares issuable upon the exercise of the Warrants) are subject to resale restrictions that expire on September 23, 2009 . In connection with the financing, the Corporation has paid finder‟s fees in the form of a cash commission totaling $150,556 and has issued 1,115,230 Warrants that entitle the Finder to acquire that number of common shares of the Corporation at $0.20 until May 22, 2011.
Bob, I think AAA will drift lower for some time now. I sold half position last week at 0.23. Wish I could have sold more, but no liquidity. Heavy load of cheap cheap shares coming into market! I expect to buy back at 15 cents and the rest I can spend on diapers !!!! weeeeee! lol
On May 22, 2009, the Company announced the completion of its previously announced private placement financing of units (“Units”) of the Corporation for gross proceeds of $2,542,150 million through the issuance of 18,830,740 Units at a price of $0.135 per (“Offering Price”). Each Unit is comprised of one common share of Allana and one common share purchase warrant (a “Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.20 at any time prior to May 22, 2011. The net proceeds of the financing will be used to fund exploration and development of Allana‟s potash project in Ethiopia and for general corporate and working capital purposes. The common shares (and the common shares issuable upon the exercise of the Warrants) are subject to resale restrictions that expire on September 23, 2009. In connection with the financing, the Corporation has paid finder‟s fees in the form of a cash commission totaling $150,556 and has issued 1,115,230 Warrants that entitle the Finder to acquire that number of common shares of the Corporation at $0.20 until May 22, 2011.
On May 22, 2009, the Company announced the completion of its previously announced private placement financing of units (“Units”) of the Corporation for gross proceeds of $2,542,150 million through the issuance of 18,830,740 Units at a price of $0.135 per (“Offering Price”). Each Unit is comprised of one common share of Allana and one common share purchase warrant (a “Warrant"). Each Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.20 at any time prior to May 22, 2011. The net proceeds of the financing will be used to fund exploration and development of Allana‟s potash project in Ethiopia and for general corporate and working capital purposes. The common shares (and the common shares issuable upon the exercise of the Warrants) are subject to resale restrictions that expire on September 23, 2009. In connection with the financing, the Corporation has paid finder‟s fees in the form of a cash commission totaling $150,556 and has issued 1,115,230 Warrants that entitle the Finder to acquire that number of common shares of the Corporation at $0.20 until May 22, 2011.
Totally agree. Way too many times the attitude is why do you bother questioning, it´s our biz. Hey, sometimes they even go ahead without a CEO for 6 months!
"Look Mom....no Head!"
holly sh*t. what happened to gold? and the USD climbing? went away on a biz trip all day, come back home and find this bloody mess on my portfolio. always happens when I am away from the computer! been 8 hours on a bus. somebody give me a quick answer so I can go to bed. tomorrow will be another (hopefully better) day
OGC.TO Dilution: Well, check their position carefully. If now it turns out they plan to go on with Didipio without a partner, and debt financing not being an option here given their already very high levels of debt, we are left with the massive dilution option, which I dont doubt they will carry on. I sold my last shares today, totally disgusted. It´s now free to finally take-off!!!