IAE.v is a great company, but the private placement at C$1.70 looks like a big stick in my eye at this point, especially since it's already fallen so far from its 2010 peak.

Probably gonna drop by about C$.20-.40 today because of the size of the offering.

IAE.v Ithaca Energy Inc. On Wednesday July 7, 2010, 4:19 pm EDT
LONDON, UNITED KINGDOM and CALGARY, CANADA--(Marketwire - 07/07/10) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Ithaca Energy Inc. ("Ithaca" or the Company") (TSX-V:IAE - News)(AIM: IAE), is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by CIBC (collectively, the "Underwriters") pursuant to which the Underwriters have agreed to purchase on a "bought deal" basis 47.6 million common shares ("Common Shares") of Ithaca at a price of C$1.70 per common share for aggregate gross proceeds of C$81 million (the "Bought Deal Offering").

Ithaca has also engaged CIBC and Cenkos Securities plc (collectively, the "Placing Agents") as placing agents and joint bookrunners to sell on a reasonable endeavours basis to purchasers resident in the United Kingdom, 45.1 million common shares of Ithaca at a price of GBP 1.07 per common share (approximately equivalent to C$1.70 per common share) for aggregate gross proceeds of approximately C$77 million (the "Private Placement").

The combination of the proceeds from the Bought Deal Offering and Private Placement ("the Proceeds") (in total, approximately US$150 million (gross)), together with debt made available from the recently announced Bank of Scotland facility and anticipated cash flows, means that all of the Company's current projects are anticipated to be fully funded through to first production.

The Proceeds are intended to be used to accelerate the development of the enlarged Greater Stella Area (the "GSA"), which includes the Stella, Harrier and Hurricane discoveries, and for general corporate purposes. Management believes the Stella appraisal well has reduced the development risks associated with the GSA.

The GSA has now become a focus for the Company to accelerate return on investment through co-development of the discoveries. Central to the project is the joint development of the Stella and Harrier fields. The Company expects operational development synergies to allow the Company to benefit from contracted services and supply markets with lower costs.

The GSA accounts for over 70% of the Company's proved plus probable reserves on a barrel of oil equivalent basis based on the latest reserves report (as at April 30, 2010) prepared by Sproule International Limited. Detailed planning for the Stella area has already been launched and a formal dialogue with the authorities (DECC) and host off-take infrastructure owners is ongoing to accelerate and optimise the development.

The Company plans to develop the larger Stella discovery with a greater biased towards light oil and liquids recovery. The expected development plan includes 4 oil producing wells and 1 gas producing well for the Stella discovery and 2 gas producing wells for the Harrier discovery. The Company currently anticipates total net capital expenditures required to develop Stella to be approximately US$288.8 million and to develop Harrier to be approximately US$78.95 million. The net proceeds from the Bought Deal and the Private Placement together with debt and anticipated cash flows are expected to fully fund the development of the GSA.

Pursuant to the Bought Deal Offering, the Common Shares will be offered in all provinces of Canada (except Quebec) by way of a short form prospectus and by way of private placement in the United States pursuant to exemptions from the registration requirements pursuant to Rule 144A of the United States Securities Act of 1933. The Common Shares have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States unless an exemption from registration is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.

Closing of the Bought Deal Offering and Private Placement and, accordingly dealings in the new Common Shares, is expected to occur concurrently on or about July 28, 2010. The Bought Deal is subject to certain conditions including, but not limited to, the concurrent closing of the Private Placement. The Private Placement is subject to certain conditions including, but not limited to, the concurrent closing of the Bought Deal and certain other conditions customary in the United Kingdom including favourable market conditions. The Bought Deal and the Private Placement are also subject to other customary conditions including the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

In accordance with AIM Guidelines, Lawrie Payne, MA Marine Geology (Alberta & Columbia) and Chairman of Ithaca is the qualified person that has reviewed the technical information contained in this press release.

Anyone know for sure when Allana plans to update their resource estimates for the property? Though this latest hole PR has very positive implications about size of potash resource, the stock is seeing surprisingly little volume today.

Anyone they are talking to (BHP and other big players) understands that Allana partnership value continues to increase with less risk as more and more holes get drilled to prove the resource.

My fingers are crossed like everyone else, and I hope Allana doesn't get bogged down in a long development cycle with inadequate investment partnerships.

For Allana, with all the new pressure on all commodity producers, it's now all about the deals/partnerships they are able to put in place to raise the capital needed to go to production. PRs on the individual holes are being treated by the market lately as if they were nothing but noise.

MILL down again ... not clear why it should have fallen this far (30% since peak about 2-3 wks ago). I'd like to learn more also about the value of properties they bought at last week's gov't auction in Alaska to expand available drilling beyond previously bought concessions.

Anyone have an inkling why MILL is on the outs lately, other than the lower price of oil, that is?

I'm very tempted to buy at the $5 level.

MMT story is terrific, and you seem to have high confidence they can deliver. Do you know whether they will have to do any capital raise over the next year vs. funding new wells with cash flow?

14:20 Taseko Mines is not aware of any material undisclosed corporate developments which would account for recent share price volatility (4.04 -0.24)

Gartman effect: Gold down $40/oz for those long of dollar-denominated gold.

TGB? Economy's slowing; copper's down, and so are most mining stocks ... Heavy volume on TGB, so I guess it was just TGB's turn in the barrel.

But no, I have no idea really. Just getting beat up in everything today. Sorry to vent ...

GORO price > $13 looks great after all the loooooong delays. Great, quality operation overall though.

Don't forget some will sell into the good news, so it will probably fall back below $13 today, especially with softening gold prices/oz.

Not sure why Jason is taking helm as President vs. his big brother after all this time.

Good luck to all GORO holders...

GORO: Gold Resource Corporation Announces Commercial Production & Promotes Mr. Jason Reid to President

DENVER, CO, Jul 01, 2010 (MARKETWIRE via COMTEX News Network) --
Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) announces Commercial Production as of July 1, 2010 from its 100% owned El Aguila high-grade gold and silver project. The El Aguila Project is located in the southern state of Oaxaca, Mexico. The Company also announces effective July 1, 2010, the promotion of Mr. Jason Reid to Gold Resource Corporation's President.
Gold Resource Corporation's CEO William W. Reid stated, "It has been a successful team effort with a lot of hard work from our staff and subcontractors which has allowed us to declare Commercial Production three years and three months after making the decision to put the El Aguila Project into production. Support from our local Totolapam Ejido, including support from the three towns of Totolapam, San Jose de Gracia and Las Margaritas, and support from our strategic alliance partner, Hochschild Mining plc were also instrumental to our success."
Gold Resource Corporation made its production decision April of 2007, at that time, having only 3 to 4 years of projected mine life. The production decision was based on the excellent economics at El Aguila that indicated an estimated capital payback for the Project of less than one year. Today, the Company estimates the El Aguila Project's mine life at a minimum of 9 years, predominantly due to its Arista deposit discovered subsequent to its 2007 production decision. Gold Resource Corporation's management is confident that over time the Project's mine life could double or more by expansion of its known deposits alone and is encouraged by its exploration program's recent discoveries including a new high-grade gold and silver area (see Company's June 10, 2010 press release).
Mr. William Reid continued, "We have been consistent in our commitment to our strategy: seek low-cost, high margin projects, place such projects into production at the earliest point in time and keep a disciplined capital structure. This commitment has led to creating significant value to the owners of the Company, its shareholders."
Gold Resource Corporation's Board of Directors voted unanimously to promote Mr. Jason Reid to President of the Company effective July 1, 2010. Mr. Jason Reid previously served as GRC's Vice President of Corporate Development. William W. Reid steps down as President while remaining CEO of the Company.
Mr. William Reid stated, "It is with personal pride that I announce the Board's decision to promote Mr. Jason Reid to President of the Company. Jason has been with Gold Resource Corporation since it was a private company over 4 years ago and has been instrumental in its success. As a Company that demands a great deal of effort at the corporate level from just a few individuals, Jason has handled and assisted in multiple aspects of the Company as VP of Corporate Development. These included the execution of the Company's growth strategy, self underwritten IPO, decisions on operations, activities relative to equity funding, retail and institutional marketing and keeping shareholders informed on the Company's progress. We are confident Jason will take the Company into the next decade and beyond preserving our legacy and building on our unique approach to the business of mining."
Gold Resource Corporation's President Mr. Jason Reid stated, "We are very pleased to report Commercial Production which marks a major milestone for the Company and its shareholders as we emerge as a low cost gold producer. This milestone is a credit to all involved and particularly our Mexican subsidiary's dedicated staff. I am honored to be the new President of Gold Resource Corporation and honored to continue working with our competent, professional and hard working group of people. I am not only motivated, but committed to continue execution of the Company's business strategy for the benefit of its shareholders."
Mr. Jason Reid continued, "Many challenging aspects of the mining business, including deposit discovery, permitting, engineering, funding, construction, establishing a team of professionals and executing Commercial Production are now behind us. We have met these real and complex challenges but our work continues. We now enter a new phase focusing on our aggressive growth curve targeting to triple annual production to 200,000 precious metal gold equivalent ounces three years from today, at zero cash cost using industry standard base metal byproduct credits."
"With cash flow from successful operations we plan to accelerate our aggressive exploration program, target additional low-cost gold and silver ounces and remain focused on potential dividend distributions," stated Mr. Jason Reid.

Gold Resource Corporation Announces Commercial Production & Promotes Mr. Jason Reid to President
DENVER, CO, Jul 01, 2010 (MARKETWIRE via COMTEX News Network) --
Gold Resource Corporation (GRC) (OTCBB: GORO) (FRANKFURT: GIH) announces Commercial Production as of July 1, 2010 from its 100% owned El Aguila high-grade gold and silver project. The El Aguila Project is located in the southern state of Oaxaca, Mexico. The Company also announces effective July 1, 2010, the promotion of Mr. Jason Reid to Gold Resource Corporation's President.
Gold Resource Corporation's CEO William W. Reid stated, "It has been a successful team effort with a lot of hard work from our staff and subcontractors which has allowed us to declare Commercial Production three years and three months after making the decision to put the El Aguila Project into production. Support from our local Totolapam Ejido, including support from the three towns of Totolapam, San Jose de Gracia and Las Margaritas, and support from our strategic alliance partner, Hochschild Mining plc were also instrumental to our success."
Gold Resource Corporation made its production decision April of 2007, at that time, having only 3 to 4 years of projected mine life. The production decision was based on the excellent economics at El Aguila that indicated an estimated capital payback for the Project of less than one year. Today, the Company estimates the El Aguila Project's mine life at a minimum of 9 years, predominantly due to its Arista deposit discovered subsequent to its 2007 production decision. Gold Resource Corporation's management is confident that over time the Project's mine life could double or more by expansion of its known deposits alone and is encouraged by its exploration program's recent discoveries including a new high-grade gold and silver area (see Company's June 10, 2010 press release).
Mr. William Reid continued, "We have been consistent in our commitment to our strategy: seek low-cost, high margin projects, place such projects into production at the earliest point in time and keep a disciplined capital structure. This commitment has led to creating significant value to the owners of the Company, its shareholders."
Gold Resource Corporation's Board of Directors voted unanimously to promote Mr. Jason Reid to President of the Company effective July 1, 2010. Mr. Jason Reid previously served as GRC's Vice President of Corporate Development. William W. Reid steps down as President while remaining CEO of the Company.
Mr. William Reid stated, "It is with personal pride that I announce the Board's decision to promote Mr. Jason Reid to President of the Company. Jason has been with Gold Resource Corporation since it was a private company over 4 years ago and has been instrumental in its success. As a Company that demands a great deal of effort at the corporate level from just a few individuals, Jason has handled and assisted in multiple aspects of the Company as VP of Corporate Development. These included the execution of the Company's growth strategy, self underwritten IPO, decisions on operations, activities relative to equity funding, retail and institutional marketing and keeping shareholders informed on the Company's progress. We are confident Jason will take the Company into the next decade and beyond preserving our legacy and building on our unique approach to the business of mining."
Gold Resource Corporation's President Mr. Jason Reid stated, "We are very pleased to report Commercial Production which marks a major milestone for the Company and its shareholders as we emerge as a low cost gold producer. This milestone is a credit to all involved and particularly our Mexican subsidiary's dedicated staff. I am honored to be the new President of Gold Resource Corporation and honored to continue working with our competent, professional and hard working group of people. I am not only motivated, but committed to continue execution of the Company's business strategy for the benefit of its shareholders."
Mr. Jason Reid continued, "Many challenging aspects of the mining business, including deposit discovery, permitting, engineering, funding, construction, establishing a team of professionals and executing Commercial Production are now behind us. We have met these real and complex challenges but our work continues. We now enter a new phase focusing on our aggressive growth curve targeting to triple annual production to 200,000 precious metal gold equivalent ounces three years from today, at zero cash cost using industry standard base metal byproduct credits."
"With cash flow from successful operations we plan to accelerate our aggressive exploration program, target additional low-cost gold and silver ounces and remain focused on potential dividend distributions," stated Mr. Jason Reid.

AAA.v trading relatively low volume today and price keeps sliding lower.

Has anyone heard a reason to expect drilling results could disappoint?

There's no clear indication why the stock has continued heading down. It could just be that the early excitement on AAA.v is gone, OR some stockholders have been selling some shares to reduce portfolio risk during tough times, OR just limit their losses on AAA.v, OR overall market concerns cause stockholders to sell their holdings in general.

Technically the price has fallen below the 50dma and has been approaching the 200dma. The chart is NOT showing an obvious bottom yet.

At any rate, the steady downward price movement thru May and June has been a big disappointment for all AAA.v stockholders.

David White lists several fundamental reasons for why he thinks the market is headed down.

http://seekingalpha.com/article/212315-18-reasons-to-assume-near-term-market-direction-is-down?source=email

Bob, regarding MILL, happy to pay you 6.50 as soon as it goes back over $7.

By the way...

14:31 Senate committee likely to raise liability cap - FBR Capital

FBR Capital notes Wednesday, the Senate Environment and Public Works Committee is scheduled to "mark up" (amend and vote on) a bill to increase the economic damage liability cap for oil spills. Presently, S. 3305, Big Oil Bailout Prevention Liability, would raise the cap from the current level of $75 mln to $10 bln. FIrm says 7 of 12 Democrats on the committee have already co-sponsored the bill. Nine votes are needed for passage. Firm says conversations with Senate staffers indicate that Senator Barbara Boxer (D-CA), who chairs the committee, will offer an amendment during markup that would eliminate the cap. There is a significant possibility that her amendment will pass. (OIH, XOP)

If unlimited cap passes, that's gonna hurt ATPG more than MILL. Land-only producers like TGA, etc. would probably benefit.

MILL high bideer on 7 new tracts (27,000 acres) in Alaska.

Miller Petroleum, Inc. dba Miller Energy Resources ("Miller") (Nasdaq: MILL) a high growth oil and natural gas exploration, production and drilling company announced today that its wholly owned subsidiary, Cook Inlet Energy, LLC ("CIE") was the successful high bidder on all seven tracts that it pursued at the recent State of Alaska's Cook Inlet Area-Wide 2010 Oil & Gas Lease Sale. The seven tracts cover an estimated 27,000 acres and were secured at a cost of approximately $900,000 to CIE, with $180,000 due as a bid deposit. The remaining amount will not be due until the Alaska Department of Natural Resources completes its title review of the leases. A total of 36 tracts were available for lease, but Miller and CIE selectively targeted tracts that completed acreage positions covering prospects acquired in Miller's purchase of certain assets from Pacific Energy Resources late last year.

"I'm very pleased with the results of the lease sale which strategically adds to our industry leading acreage position in Alaska," said Scott M. Boruff, Miller CEO. "This additional acreage better positions us to accomplish our planned development activities which have been accelerated as a result of successfully completing the first phase of our development plans in Alaska eight months ahead of schedule. Our experienced team in Alaska continues to do great work by effectively executing our ambitious business plan, while adding value for our shareholders."

MILL 8K out today shows WAY TOO GENEROUS separation agreement to Mr. Graham. Excerpts below:

"Effective June 25, 2010 Mr. Ford F. Graham resigned as an executive officer and member of the Board of Directors of Miller Petroleum, Inc. Mr. Graham, who had served as our President and Vice Chairman of our Board of Directors since December 2009, cited conflicting business and personal time commitments as his reason for resigning his offices with our company.
.
.
.
We have entered into a Separation Agreement and General Release with Mr. Graham pursuant to which Mr. Graham will receive six month's salary as severance provided that the agreement is not revoked, as described below, and he will be entitled to retain the warrants to purchase 1,000,000 shares of our common stock with exercise prices ranging from $0.01 per share to $2.00 per share granted to him when he joined our company in December 2009."

Don't forget Cheech and Chong, who drove trucks loaded with concentrate before they got famous.

ROIAK has chronic Form-4-itis

ESPH article pretty durn negative on the company, including history of hyped performance claims by "big name" individuals. Even Cousteau made out to be a tarball.

http://www.thestreetsweeper.org/article.html?c=3&i=855

ROIAK koolaid worked on me, so got some at 1.95, so I HOPE THEY DO GET ADDED tomorrow. Couldn't imagine them being held out after they were announced as an addition already. Of course they could easily get booted out next month if they stay below $2.

Terrrrrrrrrrible chart though!

ATPG & Wade, well you could think about it like ...

The fast response by the WH, that is, emphasizing that they will appeal the ruling on the moratorium, was a clear message that the WH does not intend to drop the moratorium before the 6mo is up. There's also a lot of jabber in the press about President not being "strong enough" on a number of fronts, so I bet the moratorium will stay in place until the 6mo is up. That's the way I think about it anyway.

Personally I doubt he will extend the moratorium, as I expect BP will be found to be "the criminally negligant and guilty party" for not using industry standard safety measures, especially when warnings had been given by drillers working directly with the equipment such as the questionable BOP and gas pressure readings.

I think we are better off investing in stocks w/o political implications. Do I think this decision by the WH/President is a good one? Not at all, but that's got nothing to do with investing.

Have a good one,
'peeker
(& ex-doodlebugger)

Spoke to David Barefoot late last wk, now handling IR for TRGD/TARM/ADIT and learned TARM has been shipping concentrate but had some trouble scheduling trucks to run the concentrate to the ports, so they bought a truck to haul concentrate themselves. Sounds like a good move.

May have been some early differences on assays as they left Don Roman vs. when measured at port. Hopefully such snafus can be avoided in future. He was clear that TARM will show revenues in current qtr and should show profitability by next qtr.

TRGD is more-or-less floating around in the gray sheet ether until they get their financials thru the auditors and submitted to SEC. Not clear how long that will take.

Good luck, TRGD holders ...
'peeker

PS> Worth calling or emailing David Barefoot to establish a relationship:

David Barefoot
Corporate Communications
888.901.4550
david.taraminerals@me.com
Tara Gold Resources Corp.
Tara Minerals Corp.
Adit Resources Corp.
www.taragoldresources.com
www.taraminerals.com

Isn't Adit shooting for 2013 production (after raising a few tens of millions along the way)?

ESPH got up to 1.56 today, but the COO (Chief Op Officer) filed Form4s today representing his sale of 228,000 shares while only continuing to hold about 21,572 shares. What this means regarding future contracts is not clear, but it is often taken as a good predictor of some unknown negatives. I mean, it's like the COO should know if there are more great opportunities vs problems ahead.

I think the appearances of Mr. Cousteau on CNBC and Fox yesterday has caused this upward momentum, but he did not say they have a contract with BP lined up.

OT: Wade, the correct answer (if you're married) is:

Whatever she likes.

11:51 BP considering corp debt offering to raise $5-10 bln as early as next week, according to CNBC (32.03 +0.18)

Has anyone tried successfully or unsuccessfully to reach Mr. Biscan lately?

Has anyone tried successfully or unsuccessfully to reach Mr. Biscan lately?

Nice report by Ubika:

On June 15, 2010, Allana announced the first set of drill results from the phase I
drilling at its Danakhil Potash project in Ethiopia. It is the first company in nearly 50
years to drill in the Dankhil Depression and the first set of results signify a major
milestone in the brief history of the company. The recently announced results are for
holes DK-10-01 and DK-10-02 and they confirm the existence of shallow potash
mineralization at Allana’s Dankhil Property. More results are expected as Allana
continues the first phase of drilling and assay results from other holes are analyzed.

Results support the exploration potential: As the company had stated
before, the main objectives of the Phase I drilling are to confirm historic drilling
results, to confirm the accuracy of the previous resource and to potentially
increase the resource. We believe that the first set of drill results are
encouraging and show strong mineralization at shallow depth. The company
announced that the hole DK-10-02 had strong results and intersected 25.8 %
KCl over 5.50 metres including 34.8 % KCl over 2 metres. The results also
support the view that the deposit remains open and could be extended 750
meters to the northeast region than was previously known.

Significant Exploration Potential: We believe that the market is probably
underestimating the significance of these drill results as expectations were high
from the first set of drill results. We believe that these early drill results are along
the expected lines and broadly meet the key objectives set out by the company
when it announced the Phase I drilling. The confirmation of the potash
mineralization at shallower depth is critical and supports our earlier contention
that Allana’s potash project lends to solution and/or open pit mining, which
results in lower capex and opex costs.

Phase II Drilling Announced: The company also announced an additional
10,000 metres of drilling on its Ethiopian potash project in conjunction with 2 D
and down hole seismic surveys. The focus of the Phase II drilling program will
be to establish sufficient resource to support a feasibility study. We take this as
a sign of confidence that the company has in its ability to move quickly to
establish a sizable resource base and believe that it will potentially bring new
short term catalysts for the company during the remainder of the year.
Ubika Research continues to believe in Allana’s exploration potential and its
strategy for developing the project. We continue to rate Allana Potash Corp a
Speculative Buy with $1.02 target.
Recommendation
Speculative Buy
Risk
High
Target Price
$1.02
Price (June 15,
2010)
$0.36
52-Week Range
$0.08- $0.60
Shares O/S
114 million
Market Cap
$41.06 million
Allana Potash Corp.
Allana gets going at Danakhil; announces good drill results
Ubika Research: 36 Lombard St, Ste 700, Toronto, Ontario, Canada M5C 2X3 2
The Company
Allana Resources Inc. (TSX-VEN: AAA) is a Canadian exploration company. The
company’s principal business segment is the acquisition, exploration and development
of mineral properties. The company has a strong management team with experience in
potash industry. The company is currently focused on the exploration and development
of a previously explored Danakhil potash property in the evaporite basin of Danakhil
Depression, Ethiopia. The Danakhil Depression is one of the largest evaporite basins in
the world with known potash resources and has been attracting lots of interest from
some major mining companies including BHP Billiton (NYSE:BHP). Altogether, the
company has NI 43-101 compliant resources of 105,200,000 tonnes with a composite
grade of 20.8 % KCl.
Analysis and Recommendation
Since we started our coverage of Allana Resources in February 2009, the company has
made significant progress on several fronts. It worked on a strategy to piece together
necessary building blocks that will allow the company to develop its Danakhil Potash
Project.
Although the company took a little longer to commence the drilling than we had
anticipated, we believe that the Phase I drilling is progressing nicely and we see this as
a major achievement for the company. With the first set of drill results under its belt, we
believe that the company will now move quickly towards its goal of establishing a sizable
resource base at its Danakhil Potash Project.
We strongly believe in the exploration potential at Allana’s Danakhil Potash Project and
see the presence of major miners such as BHP Billiton (NYSE:BHP) in its neighborhood
as a major advantage.
We believe that the demand for fertilizer is expected to continue its secular uptrend. This
is bringing attention to potash deposits for large mining companies including BHP and
VALE (NYSE:VALE) as these mining conglomerates scout for high quality potash assets
worldwide. Junior potash exploration companies with high potential asset and an ability
to confirm sizable resource base will attract attention from potential suitors and Allana
has the right characteristics in place to be a suitable target in the future.
Based on the Phase I drilling, we expect the company to announce the confirmation of
historic drilling and existing resource base. We believe that Phase II drilling, which will
start immediately after Phase I and will consists of 10,000 meters of additional drilling to
enable testing of the potash horizon in the centre portions of the evaporate basin, could
be the key in expanding the existing resource base.
During 2010, Allana will continue to focus on the drilling programs. We expect the
company to complete the Phase I drilling and immediately start the Phase II drilling to
further expand the exploration potential. The company is well capitalized and we remain
confident in its ability to move faster towards reaching its goal of establishing a sizable
potash deposit and moving towards a feasibility stage that can determine the economic
viability of the project. We will monitor future events closely and will advise our readers
about further developments in the future.
We continue to rate Allana Resources a SPECULATIVE BUY with a 12-month target of
$1.02 (a potential 183% return from June 15th close of $0.36).
Ubika Research: 36 Lombard St, Ste 700, Toronto, Ontario, Canada M5C 2X3 3
Ubika Research Disclaimer
This report has been prepared by Ubika Research, a division of Ubika Corporation.
Copyright
This report may not be reproduced in whole or in part, or further distributed or published or referred to in any manner whatsoever, nor may the
information, opinions or conclusions contained in it be referred to without in each case the prior express written consent of Ubika Corporation.
Disclaimer
Ubika Corporation is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment
advice or recommendations to readers of this report. The information in this report is designed to present the opinion of Ubika’s analysts and
what they believe to be the objective prospects of the highlighted company.
Where reference is made to estimates of value or relative value of a specific company, those are based on the covered company’s guidance
and layered on with prudent and standard analysis. There is no guarantee that these estimates are reliable or will materialize. They should not
be relied upon in making specific investment decisions and readers should seek advice based on their risk profile and investment
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This report does not constitute an offer or invitation to purchase or acquire any shares in any company or any interest therein, nor shall it form
the basis of any contract entered into for the sale of shares in any company.
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securities detailed in this report, and may buy, sell or offer to purchase or sell such securities from time to time. One of the analysts of this
report owns shares in Allana Potash Corp.
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Ubika Corp was compensated by Allana Potash Corp. to provide research coverage for 1-year. The typical fee for the 1-Year research
coverage offered by Ubika Corporation ranges from C$ 20,000 to C$ 30,000.
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The recent lackluster performance of AAA.v is clearly seen in the stock price, which has not been very good since it peaked around the end of April.

As a means of risk aversion, some traders also buy a stock with expectation that it will go up when a rumored JV deal is announced, but they get out when the deal doesn't happen as expected, or they get out if the stock price just fails to perform for some period of time, or the stock price hits their "mental stop loss", some maximum percent loss they are willing to take.

It's not clear to me how much the wording in the PRs is the problem vs. the performance of the stock price in general.

Be very careful overallocating to any stock, especially one with a few years of production prep ahead of it.

I like the company, but there is no telling what will happen along the long path toward start of production.

'peeker

Swing Trader: Rally Rejected Just Shy of the 200-Day SMA

The S&P has staged an approximate +6% rally off last week's June low of 1042, which in conjunction with the late-May reaction low of 1040, could be viewed as possible "double bottom" development. Last week's strength allowed the market to break May's downward momentum, but as with all corrections, that brings into play plenty of overhead resistance. Monday built upon Friday's upward momentum into the close by gapping up at the open and squeezing towards the earlier June high of 1105 before stalling out into midday. Sellers seized the opportunity to gain control during the afternoon and managed to close the market at its lows and in negative territory. This leaves a significant reversal bar in effect for Tuesday trade.

A closer look at the S&P chart below reveals that once price got above the 1100-mark, it faced a heavy resistance zone marked by the June 3 high of 1105, the 200-day sma at 1108 and a Fibonacci "cluster" b/w 1107/1109. It may look a bit cluttered on the chart, but 1107 is the 50% retracement based off the prior leg down from the May 13 high to the May 25 low. 1109 is the 38% retracement off the April high to the May low. The downtrend line off the April and May swing highs also appear to be in that range, confirming that it was a significant resistance zone to be respected. Speaking of Fibonacci, today was day 34 off the April high hinting that a potential key reversal day would be in effect.

Going forward, we are looking at a quarterly Expiration week which tends to "surprise" the crowd more often than not with a strong directional move. Whether that means we continue to see buyers lift this market or if sellers resume the downtrend remains to be seen. Monday's reversal bar is an "obvious" signal within a downtrend, so be concerned that the "short-side" may get very crowded, very fast, which could create another squeeze higher. Note the range over the last 3-weeks leaves resistance just above the 1100-level and support around the low 1040's. Prepare for stronger directional moves when those levels are taken out.

DCTH: Well, bought some today at $10.01 thinking it would continue higher thru tomorrow's conf call. ... Think again ...

whipsaw: A quick price movement followed by a sharp price change in the opposite direction. An investor expecting a continuation in the direction of a security's price movement is likely to experience whipsaw in a volatile market. This risk is very important to short-term traders but inconsequential to long-term investors.

They call it a whipsaw.

esph: Link to their presentation on "Deepwater Oil Recovery Process":

http://content.stockpr.com/esph2/media/937f2dc735fd685f56c1bb23b7d57455.pdf

BP and other investment perspectives (from creator of Dilbert):

http://online.wsj.com/article/SB10001424052748704025304575285000265955016.html

10:14 BP: Coast Guard says BP plan boosts collection to 40k-50K BPD - CNBC (33.98 +1.20)

At some point this very large SNAFU well in the GoM will contribute handsomely to BP's revenues (and perhaps even raise the stock price) now that it is a hi-volume "producing" well, helping to cover at least some of the substantial cleanup costs.

BTW, I assume BP is using (best of the best) BOPs on the two relief wells they are drilling.

DCTH: Delcath Systems to Conduct Conference Call to Discuss Recent Corporate Developments
Friday 06/11/2010 6:30 AM ET - Pr Newswire

Delcath Systems, Inc. (Nasdaq: DCTH) a development stage, specialty pharmaceutical and medical device company focused on oncology will host a conference call to discuss recent corporate developments on Tuesday, June 15, 2010 at 4:30 p.m., Eastern. Eamonn P. Hobbs, the Company's President and CEO, David McDonald, CFO, and Krishna Kandarpa, MD, Chief Medical Officer, will be on hand during the call and webcast. In addition, three leading clinicians familiar with the Phase III trial data comparing percutaneous hepatic perfusion (PHP) with melphalan to the best alternative care for patients with hepatic metastases from ocular or cutaneous melanoma will participate in the conference call. The dial-in number for the conference call is 800-762-8779 for domestic participants and 480-629-9771 for international participants.
"We look forward to updating our shareholders about the recent progress made by our Company as well as answering questions regarding the very strong data presented at the ASCO conference this past weekend," said Mr. Hobbs. "While we believe the recent decline in the value of our shares is unfortunate and an overreaction, the fundamental outlook for our company remains strong. We believe we have excellent clinical data, significant market opportunity and a strong balance sheet with enough cash to execute our current business plan for at least the next 12 months. In addition, we continue to pursue negotiations with potential partners for international marketing rights for the Delcath PHP system."