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Thanks for the link
Question for those with experience regarding buying either on the CDNX or the OTC:
I was looking at the possibilty of trying to buy some shares of Stealth Minerals and noticed I could either buy them under the symbol smlzf.pk or on the CDNX exchange under SML.V which because I reside here in the states using Fidelity would have to call Fidelity to purchase from the CDNX. Which is the more cautious method or are they both equal in using. I have noticed these shares are hard to come buy as I see no bid or ask for them. Would appreciate any insight from someone who has had to make this type of choice.
SMLZF.pk is currently at .118
SML.v is at .115 down .015 today on 22,500 shares
TIA
anyone have any thoughts on Stealth Minerals and Cascadero which Stealth is a majority holder?
EZ
I also had that problem but instead I saved it down to my PC and was able to open it locally, Adobe was chewing up loads of memory when attempting to open the PDF.
Don't know if someone else posted this already
Sustut agreement between Doublestar Resources and Northgate Minerals extended
VANCOUVER, Dec. 8 /CNW/ - By a Purchase Option Agreement dated June 21,
2004, Doublestar Resources Ltd., (DSR, TSX - V) agreed to sell the Sustut
Copper property to Northgate Minerals Corporation in return for a series of
payments ($500,000 paid) that were tied to certain milestones being achieved
in the development of the Sustut project. The Agreement was scheduled to
expire on December 31, 2006.
The Company and Northgate are both of the opinion that the project is
best maintained under the terms of the 2004 Agreement. Therefore, the
companies have agreed to extend the Agreement by amending its expiry date to
December 31, 2012. There are no other changes to the Agreement.
Doublestar's interest in the Agreement is tied to the series of milestone
payments under which $1,205,000 may be received, and a sliding scale royalty
of $2.00 per tonne of ore that may be mined (at copper prices above US$1.40).
The Sustut project was drilled to feasibility by the Company in 2001-2,
and one zone on the property was estimated to contain 4,676,000 tonnes of
mineralization at a grade of 2.02% copper and 6 grams silver per tonne in a
designed open pit (AMEC, Pincock, Allen & Holt - 2003).
About Doublestar Resources
Doublestar Resources Ltd. is a Canadian mineral resource company and
leading owner and developer of advanced and grass roots precious and base
metal and industrial mineral properties. The Company seeks to create solid
shareholder returns in an environmentally responsible fashion to benefit
future generations. For more details, call Doublestar Investor Relations at
604 688-7377, or visit Doublestar on the web at www.doublestar.net.
This news release may contain forward looking statements based on
assumptions and judgments of management regarding events or results that may
prove to be inaccurate as a result of exploration or other risk factors beyond
its control. Actual results may differ materially from the expected results.
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or the accuracy of this news release.
%SEDAR: 00008416E
It's a very inactive board
This may move copper up some
Workers at Chile copper smelter vote to strike
SANTIAGO, Chile, Dec 9 (Reuters) - Union workers at Chile's Altonorte copper smelter, owned by Xstrata Plc , voted on Saturday to strike, rejecting a contract and wage deal from the company, union president Isidro Cabrera said.
"The vote is to strike," he told Reuters by telephone.
The union's contract expires on Tuesday but the two sides could avert a strike if they request government mediation, which would give them five more days to negotiate a new deal.
"They have 48 hours to request government mediation. We'll be talking to them on Monday," Cabrera said.
A strike at Altonorte would be the latest in the sector as copper workers around the world seek a larger slice of soaring company profits with prices for the red metal nearly five times what they were in 2003.
Xstrata could not be reached for immediate comment.
Altonorte, a custom copper smelting operation near Antofagasta in northern Chile, is the country's only private smelter, with the rest run by the Chilean government.
The smelter, with processing capacity of some 820,000 tonnes of copper concentrate a year, became part of Switzerland-based Xstrata earlier this year with its acquisition of Canadian miner Falconbridge.
Altonorte produces about 290,000 tonnes of anode copper and 700,000 tonnes of sulphuric acid annually.
Just a thought, my family at one time owned land in Italy that now is prime vinyards. When napoleon came through he took it from them and gave it to his followers and so on. Wonder what chance i would have arguing that I should get a royalty from the grape harvests. They would laugh me out of the country. whats next is manhatten going to be given back to the Indians. Fat chance there, Have the tribes that took land from other tribes given those parcels back. It all boils down to the almighty dollar, I just get tired of hearing how that was our land, our hunting grounds, our lake etc. No one ever handed me free money, always had to work for it. seems like all these native American or Canadian tribes want a piece of the action without having to invest their money. Just look at Foxwoods here in CT, Indians pay no Federal taxes on the money they make, Sorry for the blow off of steam just that I see another stock TGB may have to deal with so called Indian rights.
Thanks for the laugh and pictures since I am off for a few days decorating the yard and house which is always a chore worst then work. I figure if the price some how gets to .50 I will dump the load of shares I own and take the quick profit.
SU: Did you happen to see the WITM news? Whats your take on that possible merger? Do you think it makes sense or are they combining with the intent of another merger after?
If Bob and his management really want to show the stockholders that they are working to improve shareholder value they should then issue their options not for a penny a share but instead for 10 cents a share. Maybe then they would have motivation to improve the bottom line of this company.
They have stated on their website that the date is tentative so I am hoping to see it moved to a Monday but will take some profit prior. Sure would prefer some large fish come by an gobble TGB up at a quick 30% premo
I was over on the TGB board in Yahoo and noticed an interesting question presented by someone regarding companies that report on Fridays. Has it been everyone elses experience that when a company posts either the Q4 or annual on a Fri it usually is bad news and when they post on a Mon or Tues its good news thus they allow the market to sit quiet over the weekend and allow shareholders to cool down hopefully holding panic selling at bay but when good news is out say on a Monday they allow the upswing to run its course in a beneficial way. I too like the poster own TGB and am worried why over the last 5 Q's they decide that for this one they will report on a Fri. Anyone have any comments on this.
thanks
Found this to be very interesting hopefully somebody hasn't already posted it came off of Kitco news
Gold & silver technical comment
There is a very high probability that the gold & silver price slump of 2006 is now past and now we can look forward at the future of these rare metals. The break to the upside from the recent test of the 300dma was expected and now confirmed with a $70+ rally which is very positive. We may experience a test of support / old resistance around US$580-610 area one more time and the candlestick hammer formation on 15th November was the beginning of that process which may also be past us now. Previous resistance at this area had to be tested at least briefly to confirm the break out.
The recent higher low in early October (compared to first correction low in mid June 06) was a very important reaction by traders and physical gold buyers, base support was set (almost an exact double bottom) and now we see the resultant impulse off this support. It is vital to understand that gold became oversold at these sub $580 points. Mid September 2006 to mid October saw a mini inverse head and shoulders with neckline at about $600, a classic rounded reversal pattern.
This entire classic bottom formation we have just witnessed is called an Adam and Eve bottom. The very sharp June low (Adam) and the second more gentle October rolling bottom (Eve) is a powerful signal, this is high reward low risk setup. The size of the signal indicates we are potentially headed to new gold highs in this rally to date but not in a straight line of course. Long sharp declines require a base formation and this is not what I see in the gold chart. I see a steep rise on the weekly chart and a consolidation phase which has bottomed and almost completed... at last!
Silver led gold and the gold to silver ratio is below 49 as I write after reaching into the mid 50’s. Back in the first half of 2003 when I purchased my bullion this ratio was in the mid 70’s… we have come a long way. The base price for silver is now around $11 and I believe we are unlikely to see that again. If we do I will welcome the chance to add to my bullion account.
Getting in Ahead…
I have been surprised at the ferocity of the beating the Australian resource stocks have received this last week; this appears to be a negative divergence. I have to wonder, along with several readers, what the nature of the market force driving this movement actually is, and about the motivation of the sellers setting off such a movement. Could it be re-positioning by big players? In any case this has opened several opportunities because several stocks have been beaten down to ridiculous levels, a wonder to behold. Three positive days since indicates this was an anomaly.
Notable comment from our two top mining houses who operate on a global scale; they both see strong commodity prices in 2007 and beyond. Huge international institutions are still increasing exposure to our share registers with new purchases, potential mine developers getting attention. If you don’t think this is significant you are mistaken. I believe this confirms my thesis with force.
Bottom fishers have been out in force at these price levels, those who listened or knew are “set” at optimum levels for maximum price appreciation. The triangle formation in gold was finally broken at the end of October, this is an important breakout. Now we have apparent price stability the crowd will begin to notice this pattern and move back in. The crowd will be bigger this time; the effect of this on such a small market cannot be underestimated.
Mining stocks
Mining stocks diverged from the final gold drop as expected and predicted, larger stocks in particular led the way which is a copy book signal for an upward break out. They also confirmed by additionally rising further with gold once it began to rise again.
Interesting note how just a few prime gold assets over here are being “consumed” once they “trip over and skin their knee”. I put it that way because for short-term reasons a company price may get trashed and the sellers come out of the woodwork in abundance, who is buying is what interests me for the medium to long-term. No other than J.P. Morgan just soaked up another $12M of this particular company which happens to have huge gold reserves and even more upside… think about that one and draw your own conclusions. They now own nearly $50M of this particular stock at a very depressed price and I don’t think they are about to reduce this excellent hedge against their global gold exposure.
On the same note, I could go on and on about this however I will spare you all… some of our smaller resource plays with monster resources have other local stellar names on their “substantial holder” lists, one I can think of is being dumped by impatient and or weak hands and yet one of our big banks just increased their parcel by 9M shares to over 43M shares. These big institutions are “in the know” and do their homework; I have noted it over and over. I am going to top up with more of this one at the first opportunity myself. Let me say it again… GOLD BULL JUST BEGINNING HERE FOR MANY COMPANIES, it is because gold in the Aussie dollar just broke to higher ground back in August 2005! You can still get in ahead of most players in this market, breakout already confirmed = fantastic opportunity. Once companies solidify their plans here we are seeing Northern American style price increases… five to ten baggers.
Due to the exceptional opportunities on the ASX I am going to focus on ASX Materials Index education via my web site and how to assist investors everywhere to profit from our market. They are just coming off a little but probability suggests not too deep so this is a perfect opportunity in my opinion. Our resource companies include some of the biggest on the planet and many have stellar resources in a number of continents not just Australia. This is a global market down here and I do not want anybody to miss out on the chance to make money and in the case of the US, hedge your global purchasing power.
My analysis concludes that there is a very high probability that within the ASX Materials Index, diverse and pure precious miners will out perform pure base metals plays and have a good chance of out performing many global indices. This will depend on how high this leg in gold carries, a test of the recent high or a blast off to higher ground. Fear is building in the US and this may be the catalyst required to ignite the next stage two gold up leg.
An exciting rally is forming in Australia now and the larger companies are generally leading the way. With all the money raised the last 12-18 months, drill rigs and laboratories are hard to access, so discoveries in this resource rich land are a certainty. The Australian Stock Exchange (ASX) has approximately 280 different companies that mine, currently plan to mine or explore for precious metals either exclusively or as part of their activities. I have updated this product now into six pages as I have separated the explorers poised to go into their development phase. If you are interested it is only AUD$20 for the whole set of data in the GoldOz store.
I am updating with suggested comments like burn rate where I can and have gone to considerable trouble to improve it. Just reading back through the first content and updating it highlighted which stocks moved strongly and why. Growth stories, change of focus to uranium, large resources in expansion phase with strong cash backing. It is clearer which smaller caps will move strongly next using this research, combining hindsight with fundamentals and peering into that tiny pinprick of vision we get into the future.
If you have limited or no knowledge of the Australian leaders of production in this field then you may well benefit greatly by reading on… more focused on larger stocks for the less experienced investor or more cautious. These leaders have strong track record so many risk factors are eliminated right away. Mining is a tough business and investors need all the help they can get.
Before I start though I want to re-state my opening paragraph from an earlier essay a few weeks back.
“Australia deserves to be rated as one of the lowest sovereign risk locations to mine and many of the ASX listed companies operate here with this low political risk. I have researched extensively and watched these stocks closely for 5 years now, this is a full time occupation and global economics is a passion I consider a necessity to protect my family and assets.
Here is the really interesting thing though… although the gold bull started in 2001 in the USA, the price has only recently broken key resistance at AUD$580 per ounce in Australia. Yes that is right, the gold bull just started in Australia even though activity amongst the miners has been increasing considerably the last few years. Even low grade mines can make a profit at these levels and prices seem set to go higher still”.
It is very important to digest and evaluate the performance of writers and although I have been public for only a short time I wish to draw some brief attention to a couple of the main calls I have made on this site. Firstly I called the bottom of the gold correction at the 300dma exactly, some three weeks before it happened and we have since rallied over $70 per ounce.
Secondly in early May amidst the bottom of gold and some loud calls that commodities were finished I wrote…
… Implications for ASX resource stocks
In the real world we have seen all this before… we have a strong precedent. Three separate examples in the last 20 years indicate a potential outcome in the near future…
Let’s take a brief snapshot look at the 1985 to 2002 period. Base metals rocketed higher in the late 80’s and share prices lagged however as the higher earnings filtered through to the public the resources index rallied forward in a gradual uptrend, despite commodity prices continuing to fall off their highs.
Smaller spikes in base metals ran through 93 and 94 with and then in 99/00 and the pattern was the same again… An initial hit on share prices as metals came off their highs (just happened) followed by a renewed uptrend in the resource equities on the ASX.
More importantly this was in a commodities bear market, paper assets had their time in the sun from 1980 to 2000 and this decade and most of next should continue to be the hard assets turn to benefit. If I am right about metals demand and continuing metals shortages the run will be even stronger however this would be a bonus driving these stocks strongly higher.
Thanks to the precedent we see above, probabilities strongly favor gradually rising resource stock prices over the near-term (12-18 months) as sentiment oscillates from good to bad in response to the numbers and news are released. Base metals have to come from somewhere and there may be further pressure on prices after correctional rallies when they get oversold which they appear to be right now. Market timing is going be more important than ever in this market.
September rectified the higher valuations of the large resource stocks to a large degree. Our leading resource giants have been hit hard and this has created significant opportunity while greatly reducing down side risk.) End of quote…
Resources now… base metals etc.
This has come to pass over the past several weeks Down Under with a magnificent rally for many of our quality ASX stocks. Our resource leaders with strong projects / balance sheets and low P:E have surged strongly posting gains of 50% in some cases in the last month or so. Many Australian, US and offshore investors may have missed the beginning of this rally due to lack of knowledge about this sector. There is a current mini correction underway from this breakout so all is not lost; I suspect this counter rally will be over in the short-term rather medium term, it has turned out deeper than I expected washing.
Prices were too high (short term) in many commodities; this does not mean the boom is over. China has apparently been supplying copper to the LME to cool prices so that can afford to buy what they need without blowing their own inflation through the roof. This is a new market force however they cannot keep this price management up for long, there is a real economic pressure from their demand pull inflation so they try to “manage” the situation as best they can under difficult circumstances. Reports have noted LME copper stocks up 50%, sensational news… really? As you see below stocks are way down in 5 year terms, only 3.5 days supply of copper at these so called “inflated” stock levels. Nickel… always tight, lead extremely low stock, still tight.
Prices even at this current level are very profitable for many companies which will continue to earn huge profits and bolster balance sheets. This will cause continuation of the rally, a bumpy ride with wonderful investment potential for experienced traders who thrive in times of volatility.
New investors tool at last
I have now produced a tool that all resource investors can use to assist investors to play the elite precious mining stocks over here in Australia, most mine base metals as well. I have now just completed this in-depth product on the top 38 producers in response to investor demand. It is a very comprehensive Excel spread sheet document containing a significant amount of comment boxes with all sorts of detail on these companies to give you a clear and strong overall picture of our leaders. Importantly one that allows for easy comparison.
It has over 28 columns, over 250 lines and covers shares on issue, market cap, options, price (with date), comprehensive data on projects in production, development and exploration. It also covers reserve data, production data and financial statistics such as cash holdings, profit, hedge books, P:E ratios, debt and earnings per share. The document is designed to give you a thorough reference tool that can be used to gain a more complete knowledge of our top miners involved in precious metals mining… the data in this study is too big to absorb in one go, or even gradually for busy investors, so I have put it all there in one convenient document available at www.goldoz.com.au .
This is user friendly, it has the ASX code column repeated through the document and the column code layered in for easy use. It is now available in “unrated” form for AUD$50, please ensure you clear my email address through your spam filter, ensure your email box has room, ensure you have Microsoft Excel before you order this product or it will not work… automation is under negotiation at present and we can be contacted at info@goldoz.com.au .
I am also still working towards a rated version of the same product and some investors may wish to upgrade or wait. I will undertake to supply the upgrade for the price difference (approximately $50 extra) and not re-charge to base product cost if you order now to get in ahead of the imminent rally. Do you home work and save valuable time with this new service. We continually search for and work towards better ways to present data for investors so improvements are always in the pipeline… we understand investors because we are investors.
Good trading / investing.
Regards,
Neil Charnock
Thanks SU
Question for those north of the border, is the Canadian exchange open tomorrow?
TIA
EZ: sorry for the mis-spell XSNX.ob
EZ:
What is your take on XSNX not a miner but just curious what you see on it
Yahoo board is more active but I agree with you much potential with this company
Can someone explain what people see in AZK besides debt and a management that is only looking out for their jobs and not the Shareholder? Can't believe we have come down to their level almost in SP or they have come up to ours.
So its roughly 2 months since I asked this question lets see if anyone has changed their minds or become more steadfast in their beliefs.
What junior miner will we buy?
I know you won't give your opinion Sus but I would bet if you did you would be on the money as you seem to understand the NXG management mindset the best of all of us.
If there is anyone out there that bought ARU.v a year ago and still has it, congrats to you, for you know how to pick them, up 8010.10% in a year
http://www.golddrivers.com/Juniors/juniorpageycs.htm
I realize that this is not NXG subject but TGB made a move up yesterday and also pre-market today without any news. I would love to see it continue without heavy profit taking but can't understand the jump. Guess I will never understand the market LOL
Thanks Sus
Think I need to understand this staement a little better
Earnings for the third quarter of 2006 included a $13,504,000 non-cash future income tax expense.
I don't think this report will be viewed with much hoopla tomorrow, All the doom and gloomers will be out on all the boards preaching the price downwards, well if any thing will provide a buying day.
I could be wrong.
Hopefully the numbers are so great that they are rechecking to be sure, anyway I expect an announcement as to the buyout of another mining company any time in the next few weeks.
EZ
Did you hear anything regarding RNO that would explain the increased vol so far today compared to the avg vol?
EZ:
Just curious did you put $100.00 on the Tigers before the start of the play-offs to Win the World Series? Pay off would be $7500.00 if they do.
I can't figure this market out. No news for TGB and it jumps 10% today, days when there is good news and it moves horizontal. Did anyone see anything that would have caused it to move? Sorry for discussing another company but the members of this board seem to see more then those on the TGB board.
EZ:
Though this is not a mining stock UBNK, I firmly believe this one will be taken out by a larger bank within the next 6 months at a 25% to 30% premium. Its footprint is such that bigger fish in the area near it could use it to expand and since Westcorp has already been spoken for by New Alliance UBNK has popped on the midsize radar screens.
EZ:
Shares Issued 59,583,482 As at August 21, 2006
Fully Diluted 69,283,944 (excluding stock options)
Warrants / Options
2,065,833 $0.75 expiring March 15, 2007
215,866 $0.50 expiring March 15, 2007 (PI Agent's Options 208,644, Haywood 2,222; NBCN 5,000 )
281,111* $0.75 expiring March 15, 2007 (PI Agent's Options Warrants)
2,000,000 $1.75 expiring November 3, 2007
4,419,111 $1.25 expiring November 3, 2007
201,370 $1.25 expiring November 3, 2007 (PI Fee Warrants)
517,171 $0.85 expiring November 3, 2007 (PI Compensation Options 452,857; CIBC 14,000; Wolverton 78,750; Canaccord 1,400)
9,700,462
Stock Options
(fully vested) 2,115,000
EZ:
Am not familiar with it but will spend some time this weekend doing DD, you may want to check with Susayer as she is the one I would expect to have some info on it
I don't know about the rest of you but my porfolio has really taken a hit over the last month, Guess it's true what they say "Go away in May" Come back in Nov or whatever.
I just can't believe all the people selling mining stocks are selling at a profit today. Has to be forced margin calls or am I missing something?
don't remember where I hid all my dry powder, LOL sure wish I really had some left, I bet there are quite a few margin calls going out today
Thanks everone for the replies, boy would I be sick if I was him. Can't believe he still has a job, if I made a serious mistake like that on a merger or screwed up on the numbers for an aquisition I would be pounding the pavement very quickly
Did anyone catch the news last night on the 32 year old hedge fund manager that lost millions in the last week. My wife mentioned it to me but I was unable to find any follow-up as to who, what or where.
Has anyone seen Firecracker if so let him know there is an idiot posting on the yahoo NXG board as Firewacker (pretty similiar) stating NXG is a fraud and there is no mine. If anyone has good connections with NXG management maybe they should visit the yahoo NXG board and review that post as I believe they may have legal grounds against that poster.
Susayer, what was your impression of witm?
Thanks, for the confirmation, thought maybe the Internet Gods here at work had shut me down. LOL
Anyone else having issues accessing Yahoo message boards or is it my PC
Looks awful ugly out there today