Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
HBM.TO
someone (Chinese?) took a 10% stake in them.
JFF7
POe.V Pan Orient
Extracted from today's Late Edition
April 27, 2009
PAN ORIENT ENERGY (V-POE) $3.80 -0.06
We go back to Andy Gustajtis of Dominick and
Dominick to see what his top three list looks like right
now. We should warn you though that he’s thinking that
things are getting a little bit closer to being back to normal
and he has some pretty aggressive targets still for the
price of oil. More so than most and certainly a lot higher
than what strip prices are for crude oil.
He is betting we will see $60.00 on oil by July 1st and
$80.00 by Christmas. If we see oil at $80.00 by Christmas,
that means Santa Claus is definitely visiting the oil patch.
.
.
His number two pick is Pan Orient Energy and just going
over the financials as we happen to be speaking to him
today, he thinks Pan Orient can come up with some asset
value numbers that are a big bunch higher than what it is
trading for right now and he will give it a $7.00 target by
Christmas. Having said that, he suggests that drilling
results out later this week, could add a couple of dollars
to the stock right away.
We are scheduled to interview POE President, Jeff
Chisholm later this week when the exploration program
should/could have significant news—but our first question
for Jeff is, “Did Pan orient just receive a $6.00 a share
cash offer?
PMGLF.pk/PMG.to
PBEGF.pk/PBG.to
Petrobank sells part of Petrominerales stake - April 27, 2009 4:09PM ET
* Sells 9.9 million shares for C$101 million * Cuts Petrobank stake to 66.7 percent from 76.8 percent CALGARY, Alberta, April 27 (Reuters) - Petrobank Energy and Resources Ltd said on Monday it is selling part of its stake in Petrominerales Ltd for C$101 million ($83 million) to cut debt and help fund its development of a promising Western Canadian oil play. Petrobank said it was selling 9.9 million shares in Petrominerales, a Latin American oil producer, for C$10.25 each to a syndicate of underwriters led by TD Securities Inc and Haywood Securities Inc.
The secondary offering will cut Petrobank's stake in Petrominerales to 66.7 percent from76.8 percent. It said the proceeds would bolster its finance flexibility by cutting bank debt, which could lead to additional drilling this year on the Bakken light oil play in southeastern Saskatchewan. Petrobank announced the sale the same day that Petrominerales reported a recently drilled well in Colombia, called
Corcel-D3, was producing 8,400 barrels a day of medium-gravity oil.
Its shares were up 7 Canadian cents at C$11.10 on the Toronto
Stock Exchange before being halted for the offering announcement. Petrobank fell 86 Canadian cents to C$24.61. ($1=$1.22 Canadian) (Reporting by Jeffrey Jones; editing by Rob Wilson)
AGT after hours
just someone with fat fingers. Funny thing is there was something similar the night before in after hours. Somebody trying to goose the stock?
All in due time. And the time is about due.
JFF7
Guy - AGT
I thought about adding some more today because POG is showing signs of life but rethought it. If the general market takes a dump, gold stocks will get pulled down with it. There may be a chance to get AGT 10-15% cheaper until AGT news comes out.
I already have a sizeable position so adding some more is not something I have to do.
JFF7
WEX.V / GPXM
Yes GPXM is supposedly selling thier interest in Ashdown to WEX for about 5 million. Where WEX will get 5 million from is beyond me though.
But the real deal here is that as far as I can make out, word is leaking out that Ashdown turned out to be a down place to mine, even with the high grades. Supposedly the stope and fill mining they were doing may not be what they have to do going forward. Something more expensive may be needed.
Ashodwn to me is not as attractive as it once was unless they find more resources that improve the situation. And that's assuming much higher Moly prices.
JFF7
2B - hedge against gold juniors
The best hedge that I have seen is HGD.TO (hedge on gold majors).
I believe this is a short term hedge and remain long in gold juniors.
JFF7
San Gold - SGR.TO
I haven't given up on SGR completely although I hold the same opinion of their operational performance as you. I treat it largely as a trading vehicle. Dropped my long term hold position down and increased my trading shares.
As you say they have lots of gold in the ground and are never short of new drill results. You can count on big swings over the course of a few months.
They are now developing the Hinge high grade gold and hopefully when they go into production on that ore, they will start turning a profit. Their 43-101 for the Hinge will probably keep getting delayed until someone makes an offer for them. They seem to be using it as a defence mechanism to help ensure they get the most for the large shareholders. It sures seems they aren't really planning on running it as a production company. They just want to prove up as many ounces in the ground before an offer comes.
Eventually, the gold in the ground will trump management's lack of ability to take it out of the ground in a profitable manner. I only hope for the long term holders that that happens before the price of gold reverts to the long term mean.
JFF7
Gartman and gold
I have never been a fan of Gartman or it is more like I have just never listened much to him. He is not a stock picker or much of market reader from what I can see. Most of his investments are paired trades designed to reduce risk. He is quick to point out he has been wrong before. He keeps his stops really tight because he knows can be wrong again. He even said that he will likely be shorting gold even as it turns around and starts to move up.
The paired currency trade you were trying to remember was long Aussie and Cdn dollar and short Yen.
JFF7
AGT - rumour
Post of stock house that is worth reading. Mill in start up mode.
http://www.stockhouse.com/bullboards/MessageDetail.aspx?s=APG&t=LIST&m=26631482&l=0&pd=2&r=0
JFF7
When I spoke with IR about communnicating news, I did not get the impression that they were going to send out many comunications unless they were significant news items. As a poster on Yahoo suggested, I would expect a PR when they have run the mill for a couple fo weeks and have some experience with where they are at with the grades they are processing. Maybe about the same time as the AGM or when they do the first pour.
Expect a slow and steady climb from here as the anticiaption builds (subject of course to any significant move in the POG).
JFF7
SGR.V Up, up and away!
Yes a very nice day for SGR. TD raised their target price this week from 2.25 to 3 dollars based on their revised estimates for the Hinge zone. They are atributing 1.5 million ounces instead of 750,000 ounces now to the Hinge zone. This is all near surface high grade gold. This will raise their reserves from 1.6 to 3.1 million ounces. And that's just a start of it.
This Hinge Zone is just one of 6 or 7 hinge zones they suspect are there. They are currently drilling a second hinge to see if their theory pans out. They also have some additional high grade resources to add from their Rice Lake mine.
Still have my shares and warrants from the private placement at 1.00. Will have to exercise my warrants soon though as they expire in June.
JFF7
ML.to and CS.to coins
I made some nice money off of Mercator Minerals so I bought one of 2B's coins. Nice way to commemorate a good run.
JFF7
AGT - a little more
Bought a little more today.
Started building a position in double beta short general market indexes. I think we are at a flex point here. Starting to see more signs but not 100% convinced yet so I will wade in.
Right out of ML.TO now. What a run on those warrants!
JFF7
SGR.TO - Wahooo! 6 oz per ton !!!
Hinge Zone Step Out Hole Hits Highest Grade to Date for San Gold
BISSETT, MB, Apr 14, 2009 (MARKET WIRE via COMTEX News Network) --
Dale Ginn, CEO of San Gold Corporation (TSX-V: SGR), is pleased to report that step-out drilling from surface has encountered the highest grade intersection to date in the Hinge zone. Drill hole # GS-09-63 intersected 207 g/tonne (6.05 oz/ton) gold over 2.3 meters (7.5 ft) in the target #4 zone. This intersection is located slightly below and approximately 50 meters along strike from the current western Hinge ore development face. Hole #63 is extremely significant, not only for its extreme high grade, but also in that it has extended the known zone along strike to the west by approximately 50 meters.
Drill hole # GS-09-63 is summarized below:
Gold g/tonneHole # From To Length (oz/ton) Zone------ ---- -- ------ ------------ ----GS-09-63 169.3 m 171.6 m 2.3 m (7.5 ft) 207.1 (6.05) Hinge 4 West
Dale Ginn, San Gold's Chief Executive Officer, commented: "We are extremely pleased that drilling which was designed to extend and confirm extensions of the Hinge zone has generated a result that is comparable to the Goldcorp Red Lake High Grade zone located 80 kilometers to the east of us. The largest difference being in the shallow depth of discovery of San Gold's Hinge zone and immediate accessibility by our ongoing development program."
This zone remains open along strike to the north-east and to the south-west as well as at depth. Two drill rigs continue to define the known Hinge zones, a third drill rig is searching for parallel veins to the north and a fourth drill has commenced drilling on the next hinge-like target axis located approximately 1 kilometer to the east of the known Hinge zones. The currently known Hinge zones are located approximately 1.5 kms to the north-east of San Gold's operating Rice Lake and mine and mill, and are fully accessible by San Gold's private road, and all lie within San Gold's fully permitted mine lease. An updated longitudinal section with development and drilling to date, as well as a plan view is available on San Gold's website: www.sangoldcorp.com.
This program was carried out under the supervision of W.S. Ferreira, P.Geo., and D. Ginn, P.Geo., the Qualified Persons for this project under National Instrument 43-101. Exploration drill core is split, with half sent to TSL Laboratories in Saskatoon, SK and fire assayed with an AA and gravimetric finish. Whole metallic assays were performed on samples containing visible gold. Definition drill core samples are assayed on site in the company's assay lab using the fire assay method with an AA and gravimetric finish.
San Gold's quality control and assurance program includes the insertion of standards, the retention of pulps and rejects, and spot checks utilizing independent labs including TSL Laboratories in Saskatoon, SK and Accurassay Laboratories of Thunder Bay, ON. The core lengths are actual lengths as drilled and have not been adjusted for the true width of the mineralized zones.
For further information contact Dale Ginn, CEO of San Gold Corporation, at (204) 794-5818 or investor information at 1-800-321-8564 or visit www.sangoldcorp.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Dale Ginn CEO San Gold Corporation (204) 794-5818 Investor information 1-800-321-8564 www.sangoldcorp.com
SOURCE: San Gold Corporation
http://www.sangoldcorp.com
Copyright 2009 Market Wire, All rights reserved.
VNP.TO
This is a pretty stong company and they have a nice niche that they can probably hold on to for a while. But I would not be looking backwards at their record of growing sales. Look forwards.
The solar business is not going to be going anyway quickly for the next while. Keep an eye on their backlog and if that starts to grow qtr over qtr then maybe they can continue to grow going forward.
JFF7
Mercator Minerals
I have a bunch of these warrants. They have had a great run but I wonder how much further they will go. Trimming my holding slowly. Copper could go as high as 2.20 before taking a rest or turning down (200 day moving average). Moly prices are still going down (under 8 dollars now according to Thompson Creek site). Moly could give them a boast if iron ore contracts ever get settled on a price and the steel starts rolling.
JFF7
GTE 3.18 Cdn -7.83 % The market didn't like the GTE numbers. Not sure why but I guess expectations were higher, more progress expected than achieved.
JFF7
Cl001, where to be.
Your very cautious? Exactly. the way I feel. The markets have enjoyed a very nice run lately. A correction is due?
I can't see how it isn't. There may be a little more upside but eventually, reality should set in. But there's the rub. The markets have ignored reality for so long based on the lies and propaganda but forth by the vested interests that you start to doubt yourself. When up is down and down is up for so long, you can start to buy in to the propoganda.
At this point I am only into gold and a minimal holding of oil juniors. Whatever cash I have will probably be directed at some double beta short index ETFs. Just waiting for a sign that reality is setting in.
Good luck to all, on their investments / trades.
JFF7
CL001, I listened to the guys / girl on the Bear Attack on BNN, and I would be careful on following the advice of guys like Eric Sprott too closely. I listen to a local investment advisory group who says the same thing as well.
The problem I have with these guys is that they are too outright bearish. Their whole argument is based on the believe that all the bad debt needs to be unwound before things can get better. But I don't think things will be so absolute. We had bad debt for years and the markets still rallied. It was only when things came to a head that everything tanked.
Now some of that bad debt has been unwound and it will take a long time (3-5 years) for it to fully unwind but I don't believe it will take anywhere near that long for things to turn around. There are simply too many people doing too many things to make it possible for things to improve sooner. But most importantly, I think consumers have not earned their lesson and will be only too happy to start buying and living beyond their means on the first opportunity that presents itself.
Consumers will start buying again, and the mining and energy sectors will beenfit from this. And if they can get the Chinese to move from being savers to being consumers, the Global economy will enjoy a lot of growth for a number of years.
I will continue to monitor what guys like Sprott (pessimistic point of view) have to say and balance that off with listening to Donald Coxe (optimistic point of view) have to say. Somewhere in between is where we will end up.
In the meantime though, I am loaded up with AGT waiting for the train to leave.
I hope you will still continue posting as you have always provided create leads and even better, a good sense of timing for when sectors are going to move. Good luck in your advice business.
JFF7
SGR - drill results - Hinge zone
"23 development faces as well as slashes and walls were chip sampled
resulting in a total of 163 samples assayed for gold with individual values
ranging from 0.01 oz/ton (0.34 g/tonne) to 10.14 oz/ton (347.3 g/tonne)."
10 oz per toon?
wow
JFF7
yes Bobwins gave a recap. He posted on the junior miners board of IHUB and the APG board of Stockhouse.
JFF7
POE - didn't they just say that production had dropped off significantly. ?
JFF7
Hmmm - APG / AGT
There is an iceberg sell order on APG at .43 Cdn
JFF7
POE.V
POE makes a great come back today after being as low as 3.60 Cdn. Now in a positive position for the day. Nice show of strength.
JFF7
Oil juniors
My oil juniors are taking it on the chin today. Most down 7-9%. Ouch.
JFF7
AGT - rumour
Rumour that the year end report will be out on April 3rd.
JFF7
Cl001 - GBG
Interesting way of playing announced PP. Does it always work that way in your experience? Or do the stocks sometimes just stay down.
Always good to learn someting for the successful ones.
JFF7
GBG - up
Nice up day. Must be up because CL0001 sold. No more anchor.
Just kidding,
JFF7
AGT - ok
I don't mind them taking a btter salary either but show me the gold first and then take your money.
Anyways, it sounds like they are confident of bring it on line.
Should get 4th qtr results soon (any day now) if they are anything like last year. Hopefully there will be some update buried in there about Black Fox progress. IR does not intend to release any updates other then things that are material. maybe more pictures on the website but that is about it.
JFF7
AGT - The bosses voted themselves a higher salary
Looks like the bosses at AGT just amended their takeover protection and gave themselves a nice bump in base salaries.
JFF7
http://ca.us.biz.yahoo.com/e/090325/agt8-k.html
Go GO.TO go! (Galleon Energy)
Up over 50% in the last 2 weeks.
JFF7
Is that the Denver gold group presentations in Zurich?
SGR.TO is also presenting there.
JFF7
AGT - Making Xmas wishes a little early Bob?
I'm pulling for them but I would be really surprised to see them get into production so quickly. If they pull that off, they deserve a quick double.
Go AGT!
JFF7
AGT - up .04 to .30 (15.77%).
Couldn't help myslef. Bought some more AGT. Less than month away from their target date to pur the first gold. I think this is the start of a nice run. Buy the rumor! (anticipation)
JFF7
time to buy the oil juniors I think. They are acting real good now. Debt laden ones are the best.
Happy fishing.
JFF7
I'm holding on to my gold stocks despite the chart weakness.
I like the little rally we are having right now but I am watching the LIBOR rates and Ted Spread continue to increase over the last couple of weeks and I am wondering what the global banking system is seeing that it is getting worried about. I am starting to think there may be some countries defaulting on their debt in the next little while and that maybe what the system is seeing.
If that happpens, the rally will quickly turn sour and gold will shoot back up. In the meantime though enjoy the rally.
JFF7
BMC.V
I really liked this little nickel producer. Low cost, stable env, close to market. Then they went and sold their 25% interest in LaF.
Now I don't know what to think of them. Much less riask because they have much less debt but what will be their production profile now? Haven't taken the time to look at it. Before they were reall attractive at 10-12 cents Cdn. Now ??
JFF7
"...it is imperative that the United States become independent from foreign oil sources, to ensure our Nations’ security. .."
If you don't go whole heartily after alternative energy sources uses, you'll never get off the foreign oil binge. The longer you prolong the move, the more likely you won't make the move.
Do you really think the oil / NG industry wants to pursue those alternatives?
JFF7
OGC - hedges
The more I dig into this one, the more hedged it looks for both 2009 and 2010. How much of 2009 and 2010 is unhedged?
It seems there is forward sales contracts as well as some puts / calls.
Combine the high hedges with the large debt and low cash levels, I can see why this stock got so beaten up.
Production profile looks great though.
Looks liek there is a rumour that they want to find a joint venture partner by June to resume developing Dipi.
JFF7