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OSC - finshed up about 2% on the ASX. The uptrend continues despite being removed from the index.
JFF7
OCS - ML report
Did anyone read the ML research report on OSC that they did in Janaury where they talked about OSC being one of their most undervalued companies they have researched?
JFF7
OGC
There are two mines in New Zealand being operated. One has a mine life of 7 years (with more exploration underway to prove up additional resources).
Does anyone know what the other life of mine is? Seems hard to find even though the other mine life was readily available. There seems to be enough resources in but it's strange that I couldn't easily find it.
Is the descrepancy in prices between Austrailia and Candian markets due to OSC being included as part of a rebalancing of the index on the Austrailian market?
JFF7
BW - it's alright Bob, you made the right choice on AGT. Just give it a little time.
JFF7
Jr Energy stocks.
PMG.TO, PRE.TO, POE.V
JFF7
AGT = PDAC presentation
PDAC Presentation Link - http://apollogold.com/htmlpage/presentat...
JFF7
"I think they will find it costs more to mine it than it's worth in the end."
I think I was getting to that conclusion before the price of Moly collapsed.
I think that was confirmed when the GM was let go and he commented about the difficulties encountered.
Unless Ashdown has a ton more Moly than already found, I 'd say that GPXM got the last laugh by sellling their interest to WEX for 5 million.
Quite frankly, I'd like to know where WEX is going to come up with 5 million and what basis they have for thinking it is worth that much. Maybe they plan on waiting till Moly is 100 a pound.
But it's all water under the bridge now.
JFF7
Bobwin - just got the report from Mike. Email me at justforfun777@gmail.com and I will send you the AGT report from Beacon Rock Research.
JFF7
Bobwins - AGT
Sorry Bob, I don't have a copy either. I'm on their distribution list now but could not find it on their website either.
I emailed the author to see if I could get a copy.
JFF7
AGT - rumours
Best I can tell is that a poster on Stockhouse said that although AGT is permitted for Ph1, they are not yet permitted for phase 2 and 3 which means that the ore in pahes 2 and 3 should not be included in the reserves since it is not "mineable" until it is permitted.
Pretty thin argument if you ask me.
Looking to see if there is more tothis or if there is something else.
JFF7
AGT coverage - Price target 1 buck
Not a bad start. Gold prices rising
-------------------------------------
Beacon Rock Research- AGT BUY Rating 57 minutes ago Beacon Rock Research
Mike Niehuser
503-307- 3188
Mike@beaconrockresearch.com
Near term price target $1.00
Rating : BUY
Risk: High
Price of Gold
Gold prices and oil prices are moving in opposite directions right now. When oil prices peak and start to pull back (at least temporarily), look for the price of gold to move back up and push through 1000.
JFF7
POG - Worried?
You'd be silly not to be keeping a close eye on it after the last two days of dropping gold prices. Worried? A little.
Watching the 920-930 area. If it falls through that, I may lighten up on gold holdings.
Still trying to buy AGT on the dips though.
Putting rest of new money to work though in oils and natural resource stocks. TCK looks liek a good bet that could run nicely as it is severely underpriced due to debt rollowver concerns (but they are not due till October so there is time for TCK to make another run up to 6-7 dollars from the 3 dollars it is at now).
JFF7
SGR - rumours
SGR.V operates two mines, Rice Lake and SG1. Supposedly all production was halted sometime ago on SG1 so that manpower could be redeployed to work on the Hinge zone development. That makes some sense because the Hinge is where the higher grade is but that means they are only operating the mill with ore from Rice Lake mine.
This pretty much guarantees that they will not be cashflow positive the 4th qtr or the 1st qtr of 2009, maybe not even till 2nd qtr 2009,
Amazing to think they have all that gold in the ground (based on the high grade drill results) and gold over 900 dollars and they still can't make a profit. More incredible is that they poured their first gold in August 2006.
Still holding my buy and hold shares but got rid of my trading shares. In my experience this is a good trading stock becuase they always have high grade drill results to trot out and a growing resource base of ounces in the ground but you don't make much money holding it over the long term even with rising gold prices.
JFF7
Watched the AGT presentation by the CEO from the Moneyshow last month. Many people did not get a chance to see it before it got taken down. Very impressive presentation. Finally a miner that is willing to set down a project schedule and willing tobe measured against making the plan.
Here is the link in case some of you missed it. I think you have to register with the site to view it. registration is free though.
JFF7
http://www.moneyshow.com/video/video.asp?t=4&wid=AB57593663CF4160AA6A24F44E89FD8F1
AGT - why
I think you can add a comment that investors are unhappy with the hegding of about 42% of production over the next four years at below market gold prices.
Once they get over that and someone runs some numbers on their expects earnings with this hedging in place, people will realise that the stock is still a great deal with a lot of upside.
The gold stocks are also being pulled down in the general market down draft.
I will continue to hold. PDAC conference next week. Open pit mining to start next month, Mill comissioning in April. Resource update? Lots of potential share price moving news coming up.
The bleak financial sector outlook will contnue to fuel gold prices higher.
JFF7
AGT - Stockpeeker
As I understand it, the TSX approval of bypassing a shareholder vote on the increase of shares by > 25% must come first and then the banking Committee approval can happen.
TSX supposedly commits to a decision within 5 business days of application. Since Monday was a holdiay in canada, we may not hear until end of Monday or on Tuesday. I am sure we will see some investors panicking on Monday if now news comes out because they have not taken the holiday into account.
JFF7
AGT - just to add a comment
I think the bigger danger to the share price is the general market direction and the price of gold. As Len points out, the market's could be heading for a big drop. If that happens, even gold stocks get taken down. For the POG, as Tobinator points out, the POG chart looks weak, It hasn'tcome this far without taking one wack at the 1000 mark but after that, maybe it will pullback and consolidate some.
I am less worried about the project financing than I am about these two factors.
JFF7
AGT
Holding AGT and bought some more yesterday. No sense of bailing if your in the red. Give them a chance to close the financing. Should know by early next week.
If I was in a profit position on this latest purchase, I would take some profit but keep some thru next week when financing is due.
I really do believe the adjustment to the convertible deb and warrants was just a case of RMB asking to get the same deal as the other lenders as proposed in the project financing. They may have been forced into this because of the process they are going through with accelerating the increase of shares by asking for special permission from TSX to bypass the need for a special shareholders meeting for approval. RMB could have spoke up as a shareholder and potentially delayed that approval unless they got the same deal. Just making an educated guess.
JFF7
AGT - NoWayOut
If this is any help, here is the depth for APG.TO.
# Orders Board Lots Bid Ask Board Lots # Orders
4 90 0.355 0.360 1 1
5 88 0.350 0.365 12 2
5 217 0.345 0.370 10 1
4 56 0.340 0.375 40 1
1 13 0.330 0.380 72 3
Looks like the ask side is thining out. We might close at 37-38 cents by the end fo the day (.29-.30 on AGT)
JFF7
AGT - Price discovery
It is difficult to get a good idea of the depth of the bid and ask by looking at AGT. Possibly easier to see on the TSX listing of APG. Differences in market makers, I guess.
JFF7
AGT - Stockpeeker
What you are saying makes some sense.
The exemption that they applied to the TSX for may have forced these terms. Maybe approval of the exemption was conditional on this type of deal to be extended to RMB in order to get RMB's approval of the deal. I wouldn't be surprised if RMB played that card in order to get this deal.
Oh well, as long as the financing goes through.
JFF7
AGT - warrants
Yes this deal means they wanted the financing extension real bad. But I don't know that it means that they are not getting the overall financing. Why insist on the same terms (.25 warrants) if the other financing is not coming through at same. This is just bankers taking their pound of flesh. Hopefully there is enough left on the carcus for the rest of us.
Darned bankers (no offense Bob)
JFF7
If that's what you believe, buy a Cdn listed company with a US based mine. Pink sheet or TSX makes no differnece.
JFF7
is it time to start looking at gold juniors?
It's more like is it too late?
Many gold juniors have come off their bottoms. Some like NG up over 500%. A lot of the easy money is almost over.
Now for the rest to keep climbing, the price of gold has to break and hold 1000 dollars.
JFF7
APG.TO / AGT
Picked up another 15000 today. Thanks Monty.
JFF7
POE - Update
2009-02-10 08:23 ET - News Release
Mr. Jeff Chisholm reports
PAN ORIENT ENERGY CORP.: THAILAND OPERATIONS UPDATE
Pan Orient Energy Corp. wishes to provide an update on its Thailand operations.
NSE-F1 appraisal well (60-per-cent working interest and operator)
The NSE-F1 appraisal well is currently drilling ahead horizontally within the main volcanic reservoir target at a location 850 metres northwest of the producing NSE-C1 well and outside the reserve envelope of the NSE central fault compartment, as defined in the 2007 year-end reservere port. NSE-F1 is targeting a large area of prospective resource potential that was defined on 3-D seismic. Drilling is anticipated to be completed in the next 10 days, with testing, if justified, to take another 10 days at which time results will be announced.
NSE-G1 appraisal well (60-per-cent working interest and operator)
The NSE-G1 appraisal well is located 538 metres northwest of the NSE-D drill pad and is targeting the main volcanic reservoir along the boundary of the central and north fault compartments, with the intent of extending the productive limits of the NSE central fault compartment if successful. Casing is currently being set just above the main target zone, with drilling anticipated to be completed within the next 10 days and testing, if justified, to take an additional 10 days.
NSE-E2 appraisal well (60-per-cent working interest and operator)
The NSE-E2 appraisal well, targeting potential volcanic reservoirs approximately 365 metres southeast of the NSE-E1 discovery well, failedt o encounter the main volcanic objective, which had been faulted out at this location, but encountered a deeper, oil-stained volcanic target approximately 25 metres thick. Testing of this deeper potential volcanic reservoir resulted in the recovery of approximately 15 barrels of oil and no water. Subsequent seismic interpretation suggests the deviated wellbore crossed the main NSE bounding fault and encountered this deeper volcanic below the main producing zone of the NSE central fault compartment. Although the oil rate is sub commercial at this particular location, this deeper volcanic zone will be evaluated by future drilling and a sidetrack will be drilled from the existing NSE-E2 wellbore targeting the main volcanic zone that is currently producing at approximately 800 barrels of oil per day in the NSE-E1discovery well.
The NSE-E1 and E2 wells were designed to test an approximately one-square-kilometre structural closure located on the down-thrown side of the main NSE field central fault compartment called NSE Central B. There had been no reserves of any category assigned tothe NSE Central B prospect in the year-end 2007 National Instrument51-101-compliant reserves report.
NSE-D2ST1 appraisal well (60-per-cent working interest and operator)
The second sidetrack of this well, NSE-D2ST2, has now encountered the oil leg of the main volcanic reservoir and will be put on electrical submersible pump within the next seven days to determine the rates at which it is capable of flowing oil.
L44-V appraisal well (60-per-cent working interest and operator)
TheL44-V appraisal well was drilled from a surface location approximately1.3 kilometres southwest of the Bo Rang-1 gas discovery. L44-V targeted a potential down-dip oil leg within a volcanic reservoir that tested5.5 million cubic feet of gas per day at the structurally higher BoRang-1 well, which was drilled by an earlier operator of the L44 concession area. The main volcanic objective was encountered at a TVD of approximately 720 metres and penetrated an approximately 55-metre-thick volcanic section that had oil shows and very high mud gas spikes of up to 33 per cent, exhibiting both heavy (C5) and light(C1) hydrocarbons. A shallower secondary volcanic objective was also encountered at a depth of approximately 500 metres TVD with mud losses while drilling approximately 100 barrels in combination with a minor gas kick.
Testing of the lower and upper volcanic targets has been completed with no recovery of oil, gas or water (no permeability) despite the encouraging oil shows and mud gas readings observed while drilling. A follow-up location is currently being constructed that will twin the original Bo Rang-1 well and test the oil potential of a50-metre-thick volcanic section that was penetrated below the original 25-metre-thick gas-bearing volcanic. It is this targeted deeper section that exhibited oil shows and elevated mud gas readings during the drilling of L44-V.
L44-CD1 appraisal well (60-per-cent working interest and operator)
L44C-D1was drilled to target depth and encountered a heavily fractured volcanic section with severe lost circulation. Subsequent testing resulted in the recovery of 100 per cent water. Future drilling will continue to target this volcanic reservoir underlying the Wichian Buri oil field up dip toward the L44/L33 concession boundary at a location currently under construction 3.2 kilometres to the northeast.
JFF7
I think the golds are getting a little choppy. I have noticed some gold stocks with rising short positions. It's starting to look like the oil stocks are taking the baton from golds although there is bound to be overlap where they both run together.
Going to add to POE on Monday.
JFF7
50 cents for a AGT share represents cheap dilution to the current institutional holders. Wait a few months and the company can get 1-2 dollars for each new share (if needed).
JFF7
Cashing up after spring
Already started. 50% cash now. Waiting to see the reaction to the stimulus package passing. If it's good, I ma get back in some more. Playing gold juniors and a few oil juniors (like POE) for now. PMG would have been a good play.
Only base matal is Mercator Minerals. Managed to get some warrants at 7.5 cents so I am going to let them ride. With irin ore moving again, they are going to need Moly to make steel. Interest in Moly supply has started up again but so far the price has not moved. Watching closely.
JFF7c
Great call on EAS CL001, on the gold juniors in general.
JFF7
Great call on EAS CL001, on the gold juniors in general.
JFF7
Sounds like BTO is about to issue more shares to raise capital.
JFF7
Red Back Mining (RBI.TO)- $7.54
Has anyone looked at this one? Increasing production by 53% this year on top of an increase of production last year of 76%. Expect a further 25% increase in 2010.
Low cost miner ($385 / oz.) and no long term debt.
2007 - 148,008 oz
2008 - 260,847 oz 76% increase
2009 - 400,000 oz. (target) 53% increase
2010 - 500,000 oz (target) 25% increase
JFF7
http://www.stockhouse.com/tools/?page=%2FFinancialTools%2Fsn%5Fnewsreleases%2Easp%3Fsymbol%3DT%2ERBI%26newsid%3D7178637
I will express my limited opinion.
PBG owns most of PMG so if PMG does well, PBG does well. PBG has other irons in the fire which could really pay off in the long run so added upside.
Your right that PBG and others are trading on the direction of oil right now. Or at least it is the major factor.
Fear is that oil prices could move back in the 30s short term but there is a lot of confidence that oil will stay in 40s or move higher over the course of the year.
JFF7
SMC is the smarter play over LRR. SMC has the valuable property. LRR just has the money. LRR is replaceable so SMC may be selling at a premium to LRR from time to time.
JFF7
SGR.V
I like SGR now. The head grades have improved substantially this last qtr, they have hired 12 experinced miners (hiring was previously a big problem), they will be cash flow positive this current qtr (1st qtr), and they should double production in 2010 and again in 2011.
At some point a new 43-101 will be issued that will cover off the new high grade gold found in the Hinge zone. This near surface finding will be developed this year and should be in production by mid year.
The comprehensive 43-101 will be issued at some point. Probably in response to any takeover attempts.
In the meantime they will just keep drilling and finding more high grade gold.
JFF7
Friends on Stockhouse are not worth the trouble. Most of the invitations you will receive are from posters seeing who can collect the most "friends".
I'm sure there must be some groups out there worth joining but I have found very few.
In short, not worth the effort.
JFF7
My predictions
Dow - 9000
Oil - 60
Gold - 1200
JFF7
APWR - down sharply (-18% this morning)
Looks like the last analysts reports are taking their toll on the price. Anyone know any other news that could explain this?
Glad I sold yetsreday after the second analyst report. Still took a small loss but you have to play it close these days. Rather take a small one than a big one.
JFF7