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The Bear Strikes Back!
A 6.7% increase in Crude Oil (following the detainment of British Soldiers in Iran), and FED Chairman Bernake’s comments that “uncertainties have risen” pulled down global markets this week.
Although positive news continues to come out of Asia and Europe (notably Germany), the US continues to disappoint. A decrease in consumer confidence on Wednesday coupled with Thursday’s Personal Consumption and GDP figures and The FED’s inflation concerns saw the dollar soar, but markets falter. Economists have argued that Asian growth could fill the void created by the US slowdown, but with many of these “export centered” countries so heavily reliant on the US consumer this is unlikely until sufficient internal demand is created.
Currency trading again centered on the Yen that is again being borrowed to finance Carry Trades. Interestingly, currency traders took considerable interest in the Icelandic Central Bank’s rate decision this week and a probable decrease in interest rates (from 14.25%) resulted in large scale options trading to protect against this. The Icelandic Krona is the world’s second best performing currency against the dollar this year.
As previously mentioned, the fate of the 15 British sailors held captive in Iran will dictate crude prices going forward. Sly Iranian diplomacy has placed the UK in the unenviable position of having to admit “entering Iranian waters” to secure their citizen’s immediate release. We hope for sense to prevail and will be monitoring the situation closely.
As we reach the end of the first quarter, speculation exists that prices have been pushed to artificially high levels for reporting purposes and the above mentioned geopolitical factors compound the prevailing uncertainty.
Kind Regards,
The Global Trader Team
Undervalued Stock #2 ========== --- Freeport McMoRan Copper & Gold Inc. (NYSE: FCX) --- Insider Name: Robert DayInsider Position: DirectorInsider Action: 200,000 shrs on 3/26/2007Insider Total Holding: 1,131,954 shrs -------------------------------------------------------Undervaluation Merits... P/E Ratio = 9.86 (Industry Average 12.22)P/S Ratio = 3.77 (Industry Average 3.85) Industry: Oil & Gas Pipelines -------------------------------------------------------Other Merits... Dividend Yield = 1.90%Exceeded Analysts' Estimates for Past 5 Quarters --- Freeport McMoRan Copper & Gold Inc. (NYSE: FCX)
Undervalued Stock #1 ========== --------- Chesapeake Energy Corp. (NYSE: CHK) --------- Insider Name: Aubrey K. McClendonInsider Position: ChairmanInsider Action: 200,000 shrs on 3/22/2007 to 3/23/2007Insider Total Holding: 27,214,876 shrs -------------------------------------------------------Undervaluation Merits... P/E Ratio = 7.1 (Industry Average 15.1)P/S Ratio = 1.95 (Industry Average 4.70)P/B Ratio = 1.53 (Industry Average 2.73)P/CF Ratio = 4.20 (Industry Average 8.60) Industry: Independent Oil & Gas -------------------------------------------------------Other Merits... Dividend Yield = 0.80%Exceeded Analysts' Estimates for Past 5 Quarters --------- Chesapeake Energy Corp. (NYSE: CHK)
Ear on the Street
Aurelian Resources (ARU : TSX : $30.89)
FDN yields 250 metres of 35.1g/t gold
Blackmont Capital maintains a "speculative buy", 12-month target price is $48.35
Canaccord Adams maintains a "speculative buy", target price cut to $45.50
ATS Automation Tooling Systems (ATA : TSX : $8.55)
Photowatt IPO withdrawn
Blackmont Capital maintains a "hold", 12-month target price is cut to $8.20
CIBC World Markets maintains a "sector outperform", target price raised to $13.00
Credit Suisse maintains a "neutral", target price cut to $9.00
Raymond James maintains a "market perform", 6-12 month target price cut to $9.00
Aur Resources (AUR : TSX : $23.52)
Strength in copper market continues
Desjardins Securities reiterates "buy", target price is $26.85
Artis REIT (AX.UN : TSX : $16.27)
Alberta to drive growth
CIBC World Markets maintains a "sector outperform", target price is $19.00
Desjardins Securities upgrades to "top pick", target price raised to $18.82
Blue Pearl Mining (BLE : TSX : $12.21)
Posts very impressive cash flow from operating activities
GMP Securities maintains a "buy", target price raised to $14.00
Bonterra Energy Income Trust (BNE.UN : TSX : $26.80)
Despite slightly disappointing Q4 results, outlook remains solid
CIBC World Markets maintains a "sector outperform", target price raised to $30.00
Carfinco Income Fund (CFN.UN : TSX : $3.80)
Disappointing fourth-quarter results, outlook remains solid
Blackmont Capital maintains a "speculative buy", 12-month target price is cut to $4.50
GMP Securities maintains a "buy", target price is $4.85
Centerra Gold Inc. (CG : TSX : $10.53)
Political developments in Krygyz Republic come as little surprise
RBC Capital Markets maintains a "outperform", target price is $19.00
Compton Petroleum (CMT : TSX : $11.75)
$10 million loss in Q4
Scotia Capital Markets maintains "sector underperform", 12-month target price is cut to $11.50
Countryside Power Income Fund (COU.UN : TSX : $9.71)
Continues strategic review process
CIBC World Markets maintains a "sector perform", target price is $10.00
Desjardins Securities upgrades to "buy", target price raised to $11.00
RBC Capital Markets maintains a "outperform", target price is $10.50
Canadian Sub-Surface Energy (CSE : TSX : $3.40)
Posts weak fourth-quarter results
Raymond James maintains a "strong buy", 6-12 month target price cut to $5.50
Cognos Inc. (CSN : TSX : $46.51 | COGN : NASDAQ : US$40.11)
Expecting strong Q4/06 results and growth to continue in 2007
CIBC World Markets maintains a "sector outperform", target price is US$50.00
RBC Capital Markets reiterates "outperform", target price is US$48.00
Descartes Systems Group (DSG : TSX : $5.05 | DSGX : NASDAQ : US$4.39)
February data represents second consecutive month of increase in U.S. trucking indices
GMP Securities reiterates "focus buy", target price is $7.00
Emergis (EME : TSX : $6.13)
Health division to drive growth
Desjardins Securities initiates coverage with a "buy", 1-year target price is $7.50
FUN Technologies (FUN : TSX : $3.00)
Posts in line fourth-quarter results
CIBC World Markets maintains a "sector outperform", target price is $7.00
Gildan Activewear (GIL : TSX : $69.32 | NYSE : US$59.73)
Moving production offshore
Desjardins Securities maintains "buy", 12-month target price is $82.00
Raymond James maintains "strong buy", 12-month target price is US$70.00
RBC Capital Markets rates "outperform", 12-month target price is US$68.00
Goldcorp Inc. (G : TSX : $28.65)
Landowners block access road
Blackmont Capital rates "buy", 12-month target price is $37.50
Quebecor World (IQW : TSX : $14.45 | NYSE : US$12.46)
Meredith Corp decides to close Child magazine
Desjardins Securities maintains "sell", 12-month target price is US$11.00
Jaguar Mining Inc. (JAG : TSX : $6.18)
Q4/06 results reported
RBC Capital Markets rates "outperform", 12-month target price is $10.00
MEGA Brands (MB : TSX : $26.08)
Reports results Friday
RBC Capital Markets rates "outperform", 12-month target price is $30.00
Magna Entertainment (MEC.A : TSX : $4.05)
Selling non-core assets
GMP Securities maintains "buy", 12-month target price is $6.05
Miranda Technologies (MT : TSX : $11.05)
Decline in financial performance
Raymond James downgrades to "market perform", 12-month target price is cut to $13.00
TD Newcrest maintains "hold", 12-month target price is cut to $13.00
Newport Partners Income Fund (NPF.UN : TSX : $6.14)
Sells RGC
Blackmont Capital rates "sell", 12-month target price is $5.50
RBC Capital Markets rates "underperform", 12-month target price is $6.15
Excel-Tech Ltd. (NRV : TSX : $1.75)
An attractive takeover target
Raymond James upgrades to "outperform", 6-12 month target price is $2.00
Progress Energy Trust (PGX.UN : TSX : $12.69)
Strengthened by acquisition
CIBC World Markets maintains a "sector perform", target price raised to $14.00
Raymond James rates "strong buy", 12-month target price is $15.75
Peerless Energy (PRY.A : TSX : $3.35)
Year-end results
Canaccord Capital rates "buy", 12-month target price is $5.00
Quadra Mining Ltd. (QUA : TSX : $8.90)
High-yield debt to pay for Carlota
RBC Capital Markets maintains "sector perform", 12-month target price is $10.50
QuStream (QVC : TSX-V : $1.52)
Mixed bag of Q4/06 results
Blackmont Capital maintains a "hold", 12-month target price is $2.00
Sun Life Financial Inc. (SLF : TSX : $52.64 | NYSE : US$45.40)
To retire Clarica brand
GMP Securities maintains "buy", 12-month target price is $57.50
SNC-Lavalin Group (SNC : TSX : $33.21)
Q1 negatively impacted by a forecasted loss on a major power project
Scotia Capital Markets maintains "sector outperform", 12-month target price is cut to $37.00
Somerset Entertainment (SOM.UN : TSX : $2.73)
Q4 exceeds expectations
RBC Capital Markets maintains "sector perform", 12-month target price is $3.00
Tahera Diamond (TAH : TSX : $1.09)
Q4 results below expectations
GMP Securities maintains "buy", 12-month target price is $1.45
Teranet Income Fund (TF.UN : TSX : $9.61)
Q4 preview
CIBC World Markets maintains "sector outperform", 12-month target price is $9.75
Trafalgar Energy (TFL : TSX : $4.19)
Positive 2006 year-end results
Blackmont Capital maintains a "buy", 12-month target price is $5.00
Canaccord Adams maintains "buy", 12-month target price is $5.00
UTS Energy (UTS : TSX : $4.20)
Updates winter drilling program
TD Newcrest maintains "buy", 12-month target price is $5.00
Wi-Lan Inc (WIN : TSX : $6.25)
To acquire Tri-Vision
Haywood Securities maintains "sector outperform", 12-month target price is $7.75
WestJet Airlines (WJA : TSX : $15.07)
Harmony Airways discontinues scheduled flight service
Canaccord Adams maintains "buy", 12-month target price is $18.25
Desjardins Securities maintains "buy", 12-month target price is $17.50
Ear on the Street
AGF Management (AGF.B : TSX : $34.75)
Strong first quarter
CIBC World Markets rates "sector outperform", 12-month target price is raised to $39.00
Credit Suisse rates "outperform", 12-month target price is $40.00
GMP Securities rates "buy", 12-month target price is $41.00
TD Newcrest maintains "hold", 12-month target price is raised to $34.00
Anatolia Minerals Dev Ltd (ANO : TSX : $5.98)
Encouraging results at Copler
Haywood Securities rates "sector outperform", 12-month target price is $6.90
Raymond James maintains "outperform", 12-month target price is $7.00
Atlantic Power (ATP.UN : TSX : $10.93)
Released Q4/06 results
RBC Capital Markets rates "sector perform", 12-month target price is $11.25
Avenir Diversified Income Tr. (AVF.UN : TSX : $7.25)
Strong Q4 results
Blackmont Capital maintains "buy", 12-month target price is $8.50
Bombardier Inc. (BBD.B : TSX : $4.68)
Reorted Q4/06 results
Desjardins Securities maintains "hold", 12-month target price is $ 4.95
RBC Capital Markets rates "underperform", 12-month target price is $4.00
Bank of Nova Scotia (BNS : TSX : $53.89)
Opening representative office in Istanbul
Blackmont Capital maintains a "buy", 12-month target price is $61.00
Custom Direct Income Fund (CDI.UN : TSX : $8.37)
Announces new business line
TD Newcrest maintains "buy", 1-year target price of $10.00
CanWest Global Communications (CGS : TSX : $10.90)
TEN results above expectations
GMP Securities maintains "hold", 12-month target price is raised to $11.50
Clean Power Income Fund (CLE.UN : TSX : $5.22)
No surprises in Q4 results
Canaccord Capital rates "hold", 12-month target price is $ 5.70
Cardiome Pharma (COM : TSX : $11.36)
2007 expected to be volatile
RBC Capital Markets rates "outperform", 12-month target price is $15.00
Canadian Tire Corporation (CTC.A : TSX : $74.30)
Well executed growth strategy
RBC Capital Markets rates "outperform", 12-month target price is $85.00
Denison Mines Corp. (DML : TSX : $13.79)
Looking for strength to continue
Raymond James upgrades to "outperform", 6-12 month target price raised to $15.50
EXFO Electro-Optical Engin. (EXF : TSX : $7.16 | EXFO : NASDAQ : US$6.17)
Fiscal 2007 second-quarter earnings expected April 3
Desjardins Securities maintains a "buy", target price is $10.25
Finning International (FTT : TSX : $53.56)
Share buyback program seen as a positive
RBC Capital Markets rates a "outperform", target price is $55.00
Gennum Corp. (GND : TSX : $12.10)
First quarter results slightly below expectations
Blackmont Capital maintains a "hold", 12-month target price is $14.00
Raymond James maintains a "outperform", 6-12 month target price is $16.50
Galleon Energy (GO.A : TSX : $17.05)
Released Q1 2007 operations update
RBC Capital Markets maintains a "outperform", target price is $21.00
Cdn. Hotel Income Properties (HOT.UN : TSX : $15.01)
Looking for alternatives
RBC Capital Markets maintains "sector perform", 12-month target price is $17.00
Highpine Oil & Gas (HPX : TSX : $13.73)
Analyst discussion focused on pressure maintenance in the Pembina Nisku play
RBC Capital Markets rates a "outperform", target price is $19.00
Heroux-Devtek Inc. (HRX : TSX : $9.10)
Five year contract from Lockheed Martin
CIBC World Markets rates "sector underperform", 12-month target price is $7.10
Iteration Energy (ITX : TSX : $5.70)
Fourth-quarter results meet expectations; downgrade due to recent price appreciation
RBC Capital Markets downgrades to "sector perform", 12-month target price is raised to $6.00
Livingston Intl Income Fund (LIV.UN : TSX : $20.30)
Concerns exist going forward
Blackmont Capital maintains a "hold", 12-month target price is $19.00
MGM Energy (MGX : TSX : $4.35)
Another dry hole
TD Newcrest maintains a "speculative buy", 12-month target price is cut to $6.50
Medisys Health Group (MHG.UN : TSX : $8.50)
Reports Q4/06 Friday morning
Blackmont Capital rates "hold", 12-month target price is $8.00
Metallica Resources (MR : TSX : $5.55)
High grade copper-gold mineralization intersected at La Fortuna deposit, Chile
Canaccord Adams maintains a "speculative buy", target price is $6.30
New Flyer Industries Inc. (NFI.UN : TSX : $9.15)
Expecting good things in 2007
CIBC World Markets upgrades to "sector outperform", target price raised to $10.00
NuVista Energy Ltd (NVA : TSX : $15.00)
Financial position increased
Blackmont Capital maintains a "buy", 12-month target price is raised to $18.00
Paramount Resources (POU : TSX : $20.35)
Another dry hole for MGM energy
RBC Capital Markets maintains "sector perform", 12-month target price is $21.00
Patheon Inc. (PTI : TSX : $4.78)
Debt restructuring
TD Newcrest maintains "hold", 12-month target price is $5.50
ProEx Energy Ltd. (PXE : TSX : $15.30)
Acquisition of assets in B.C.
Canaccord Adams maintains "buy", 12-month target price is raised to $17.00
Reitmans (Canada) (RET.A : TSX : $21.59)
Q4 beats expectations
TD Newcrest maintains "buy", 12-month target price is $25.00
Rio Narcea Gold Mines (RNG : TSX : $4.62)
Q4 shows 20% loss in reserves
Desjardins Securities maintains "hold", 12-month target price is $5.00
Sears Canada (SCC : TSX : $28.04)
2006 annual report filed yesterday
CIBC World Markets maintains "sector underperform", 12-month target price is $24.00
Stoneham Drilling Trust (SDG.UN : TSX : $18.45)
A defensive growth opportunity
Canaccord Adams initiates coverage with a "buy", target price is $23.00
Sunrise Senior Living REIT (SZR.UN : TSX : $16.60)
Unitholder meeting to consider the merger with Ventas postponed
RBC Capital Markets maintains "sector perform", 12-month target price is $16.50
Teranet Income Fund (TF.UN : TSX : $9.45)
Q4 to be reported today
Blackmont Capital maintains "buy", 12-month target price is $10.50
Theratechnologies (TH : TSX : $8.29)
Q1 loss due to high R&D expenses
RBC Capital Markets maintains "underperform", 12-month target price is $5.50
True Energy Trust (TUI.UN : TSX : $5.68)
Two proposed plans to vote on
Canaccord Capital ratings and targets are "under review"
WestJet Airlines (WJA : TSX : $15.12)
Ready for significant share appreciation
RBC Capital Markets maintains "outperform", 12-month target price is $22.00
TSX Group (X : TSX : $49.89)
Partnership with ICE
CIBC World Markets maintains "sector outperform", 12-month target price is $60.00
Yellow Pages Income Fund (YLO.UN : TSX : $13.64)
Apax Parnters acquired 49.9% of Trader Media Group
Blackmont Capital maintains "buy", 12-month target price is $14.00
Weekly Update April 1, 2007
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Bioscrypt (BYT.T $0.87)
www.bioscrypt.com
Industry: Biometrics & 3D Facial Imaging for Physical & Logical Access Control, Time and Attendance, and Civil ID. Sectors include Transportation. Government, Banking and Healthcare / Revenue for 2006: $17 million
Shareholders include: Motorola, Tako Ventures (owned by Larry Ellison - billionaire CEO of Oracle), Logitech (the leading computer peripherals manufacturer), NTT Leasing (financial subsidiary of Japan's NTT Group), and Singapore Technologies (a leading technology- based multinational conglomerate) - this group own approx. 32% of Bioscrypt.
World's first 3D face recognition camera for PC's
Bioscrypt is one of the techs we're following as a play on the security and biometrics industry in 2007. On March 28th they announced an industry first that could lead to tremendous growth opportunities in 07/08 and at this stage, the potential has not been recognized by investors.
BYT has developed the world's first 3D face recognition camera for use in authenticating individuals accessing a computer. The VisionAccess 3D DeskCam performs both verification and identification operations through a split second scan of 40,000 identification points. The camera accommodates varying poses of the head, as well as a wide range of lighting conditions, to provide a convenient, non-contact method of authentication with a high level of accuracy that is already being used in their commercial applications such as banks, airports, etc. It will meet a significant demand for hands free and secure authentication solutions that does not require users to remember passwords, tokens or cards to log on to their computer.
The 3D DeskCam can be setup quickly and easily through a USB port and is scheduled to be released in the second half of 2007 with a target price of US$350. This price could be reduced to around US$200 if produced in larger volumes.
Size of the Market
This is an entirely new security application for both business and personal use so the size of the market is tough to estimate. If however it takes off, we could see explosive growth for Bioscrypt when you consider the size of the personal computer (PC) market.
The number of PC shipments worldwide is projected to touch 300 million units in 2009, while the value of shipments will be $250 billion (2006 was estimated at 255 million new machines). This does not account for significant growth potential in emerging countries like India and China.
If volumes enable them to drop the price to US$200 and they can even secure 500,000 users worldwide annually, revenue jumps to $100 million. At 1/2 this the numbers are still impressive but if they can land alliances with major computer manufacturers and if the product becomes acceptable mainstream (both for corporate, small business or home use), then the growth potential becomes dramatic - particularly when you consider their 2006 revenue was $17.6 million.
New PC shipments strictly for business application are in the range of 70 million annually and this new authentication technology could prove very popular amongst this segment.
What is interesting is that the camera can also be used as a webcam and recently Logitech became a shareholder of Bioscrypt when BYT acquired industry leader A4Vision. Logitech dominates the global market for webcams so it will be quite interesting to see how this plays out over the next 12 to 18 months as Bioscrypt should have the security side of this market locked up.
About VisionAccess 3D
The webcam looking device looks for identification points to verify authenticity, and is capable of not only accounting for facial hair but even distinguishing between identical twins. The technology works with a glance and within a fraction of a second to allow access to applications, networks, websites, etc. It uses the same technology as Bioscrypt (and A4Visison their recent acquisition) have already proven with commercial applications at banks & airports.
Registering users with the Bioscrypt system means first casting a 40,000-point infrared mesh grid over the user's face in order to take measurements. The grid captures the shape of your face rather than taking a digital photo. These measurements are then stored as data either on the computer or in a more centralized network directory. Encryption protects the data while it's in transit (on a corporations network for example) or at rest. The infrared sensor works either in darkness or regular office light.
VisionAccess has one very important advantage over most laptop security. "You can't leave home without your face," says Grant Evans, former A4Vision CEO and president and member of Bioscrypt's board of directors.
Bioscrypt is also partnering with 3VR, a maker of searchable digital video surveillance systems, to integrate VisionAccess 3D Face Readers and the VisionAccess 3D DeskCam with 3VR's technology. The goal of this union is to help companies identify suspicious people or activity in real time either at a facility's entrance using the 3D Face Reader or at a closer proximity using the 3D DeskCam.
Bioscrypt's 3D facial recognition works with 3VR to perform multiple facial scans and comparisons against a database of stored images and corresponding data. If a person identified was previously placed on a watch list, the system will initiate an alert.
Conclusion
In a publication dated January 2007, the International Biometrics Group projected that the facial recognition market will represent more than US$1.4 billion or 19 percent of the US$7.4 billion total Non-AFIS market in 2012. Fingerprint matching is predicted to be 25 percent or a US$1.85 billion market in 2012 for a combined market size of more than US$3 billion in five years time.
Frost & Sullivan, an independent market analyst firm, stated in a July 2006 study that the compounded annual growth rate for facial biometric technology will be 27.5 percent and that one of the two primary markets by application for face recognition technology is physical access control/time and attendance.
Bioscrypt is already one of the global leaders when it comes to fingerprint biometrics and security applications. This new technology and what is likely in the pipeline, should open up tremendous growth opportunities for the company. The scenario we are looking for with microcap speculations.
Danny Deadlock
Microcap.com
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email: microcap@telus.net
web: http://www.microcap.com
Here on line 32,,
Net foreign assets of the CBI. 23,075,000,000,000 Dinars.
On line 66 M2 18,724,000,000,000 Dinars
What other countries have foreign assets that are greater than their M2?
Me to.
History of Iraqi Dinar and Iraq Dinar Stock Exchange
1932 Currency unit consisting of 1,000 fils or 20 dirhams. When officially introduced at the end of the British mandate (1932), the Iraqi dinar was equal to, and was linked to, the British pound sterling, which at that time was equal to US$4.86. 1932–1949
1949–1971 Iraqi dinar (ID) equaled US$4.86 between 1932 and 1949 and after devaluation in 1949, equaled US$2.80 between 1949 and 1971. 1959–1967 Iraq officially uncoupled the Iraqi Dinar from the pound sterling as a gesture of independence in 1959, but the Iraqi dinar remained at parity with the pound until the British unit of currency was again devalued in 1967. 1971 One Iraqi dinar remained equal to US$2.80 until December 1971, when major realignments of world currencies began. 1973 Upon the devaluation of the United States dollar in 1973, the Iraqi Dinar appreciated to US$3.39. 1980 It remained at this level until the outbreak of the Iran-Iraq War in 1980. 1982 In 1982 Iraq devalued the dinar by 5 percent, to a value equal to US$3.22, and sustained this official exchange rate without additional devaluation despite mounting debt. 1988 In early 1988, the official dinar-dollar exchange rate was still Iraqi dinar (ID)1 to US$3.22; however, with estimates of the nation’s inflation rate ranging from 25 percent to 50 percent per year in 1985 and 1986, the dinar’s real transaction value, or black market exchange rate, was far lower-only about half the 1986 official rate. 1986–2003 1986–2003 between .33 cents to 1.32 to a dollar. 2001 Oil-production: 2.452 million bbl/day (2001 est.); note — production was disrupted as a result of the March-April 2003 war (2001 est.) 2002 GDP: purchasing power parity — $58 billion (2002 est.) 2002 Exports–partners:US 40.9%, Canada 8.2%, France 8.2%, Jordan 7.5%, Netherlands 6.4%, Italy 5.4%, Morocco 4.7%, Spain 4.4% (2002) 2003 In october 2003, the official Dinar-dollar exchange rate was ID1 to US$0.00027. 2004–2005 August 2004 till 2005, the official dinar-dollar exchange rate is ID1 to US$0.00068. Population: 25,374,691 (July 2004 est.) 2006 As of Jan 1st 2006, the official Iraqi dinar-US dollar exchange rate is ID1 to US$$0.00067. Positive Changes in Iraq
Upon Saddam Hussein’s deposition in 2003, Iraq has undergone political and economic changes. Many believe that the re-building of Iraq’s infrastructure will stabilize Iraq socially, politically, and economically. With the new government establishing a new monetary system that encourages foreign investment, and the central bank of Iraq awarding foreign licences, many also believe that the value of the new Iraqi Dinar banknote is poised to escalate.
More Treasury Bills on the Way
The government of Iraq will issue more Treasury bills to the secondary market. For the first time in years, the central bank auctioned Treasury bills in July. Thus far, local banks have bought 900 billion Iraqi dinars ($628 million) worth of three-month bills with coupons ranging between 2.5 percent and 6.8 percent. To improve Iraq’s local currency, the dinar against the dollar, Iraq’s central bank also plans to build up its foreign-currency reserves.
Creating viable domestic capital markets will start the process of trimming the massive pre-war debt. Iraq’s path to debt reduction along with the generosity of the Paris Club by forgiving 80% of Iraq’s debt is good news for the Iraqi economy. Iraq’s growth-oriented policy, along with Iraq’s prospects of economic stability makes investing in the dinar potentially lucrative.
The Central Bank of Iraq
For the first time in decades, the central bank of Iraq awarded foreign bank licences to the following banks: HSBC, Standard Chartered, National Bank of Kuwait, Iranian National Bank, Commercial Housing bank, and Bahraini Arab Banking Institute. The Bahraini Arab Banking Institute is listed on the Bahrain, Kuwait, and Paris stock exchanges, and its major shareholders include the Kuwait Investment Authority, the central bank of Libya, and the Abu Dhabi Investment Authority. Granting foreign licences and liberalizing interest rates will create a vibrant free-market economy. Iraq’s re-invigorated banking policies will positively effect the value of the dinar in the near future.
The Potential of the Dinar
Prior to United Nations sanctions, the Iraqi dinar traded at 3.35 per U.S. dollar, and prior to the war in Iraq, the Iraqi dinar traded at .33 U.S. Dollars. During major combat operations, the Iraqi dinar declined to an all time low. However, after major combat operations, the value of the dinar increased 25%. Countries such as Germany (post WWII) and Kuwait (post Iraqi invasion) experienced a similar devaluation of their currency, but both countries recovered. Today, the dinar has increased from 3,500 against the dollar during the U.S. led invasion last year to 1,400 against the U.S. dollar. Imagine the growth potential of the Iraqi dinar once Iraq recovers and begins to enjoy the potential revenue of a country rich in oil and other natural resources.
The New Iraqi Dinar Banknote
Today, De La Rue, the world’s largest commercial security printer and papermaker based in Great Britian, prints the new Iraqi dinar banknote. The new Iraqi dinar banknote has various security features making the dinar very difficult to counterfiet, and the dinar banknote is now available in 50, 250, 1000, 5000, 10000, and 25000 bills. With the re-building of Iraq’s infrastructure and with the prospect of stability at hand, the Iraqi dinar is quickly becoming a very attractive investment opportunity.
Now I've heard it all.
We are watching some vids from Yahoo.
Better quality vids than U tube.
Don't know if i can liink them here.
Nope.
Edit.
This video has been removed due to terms of use violation.
I think that this is the end of HIET.
So it is on the pink sheets now.
Edit.
Al Mansour district bounces back
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Baghdad: It was one of the finest and most crowded neighbourhoods in Baghdad.
Al Mansour commercial district attracted shoppers, namely females requesting Italian, French and American products and goods.
However, in the past months, the high-class district, well known for its commercial and social vitality, became the most abandoned places in Baghdad. Major markets' shopkeepers deserted their shops and the neighbourhood as well, after encountering assassination attempts by armed men.
"Upto three weeks ago, shopkeepers were not able to keep their shops open after five pm. In fact most of them preferred to close their stores at midday. The reason behind that was the increase of insurgent operations," said Maher Al Qalaji, owner of a luxurious and imported clothes' store.
New security plan
"We used to call Al Mansour neighbourhood as a downfall district with no state authority in it at all," he told Gulf News.
Al Mansour, also known as embassies' district, is close to the Green Zone which includes significant garrison and domestic areas, like the American military command headquarters and houses of both former prime minister Eyad Allawi and his Deputy Ahmad Al Chalabi.
The late president Saddam Hussain's house which was bombed by American warplanes, days before the fall of his regime in 2003 was also located there. Three weeks ago, this district started to regain some of its vitality as a result of the new security plan, 'Imposing the Law' in Baghdad.
Umm Sa'ad , a local shopper, told Gulf News : "After a long break since last August, I decided to shop in Al Mansour district with two of my daughters."
She continued saying: "We used to fear abductions and killings, especially when some heavy clashes between armed men and Iraqi-American forces occurred here. We are so glad that normal life is back again in this neighbourhood."
The district was named Al Qaida and abduction district due to some serious kidnapping operations there, like the kidnapping of Moroccan diplomats and their counterparts from Algeria, Egypt and Russia, as well as some American, British and Iraqi businessmen.
Despite the relative peaceful situation, some believe that the neighbourhood needs more security operations to be really clean and safe.
Even with rare car-bombings, Al Mansour district still witnesses bomb explosions, like the recent assassination attempt against Iraqi Vice-President Adel Abdul Mehdi which took place at the Ministry of Public Works in the centre of Al Mansour district.
Ironically , shopkeepers and customers in the district continue working and shopping for long hours until seven pm or more.
Samir Radi, owner of a cosmetics store, told Gulf News: "The exciting matter is not only with opening of the shops for long hours, but also the customers' great enthusiasm and the signs of joy."
Radi added: "Now there is rivalry among shopkeepers to import new clothes. I hope the situation improves and continues as it is now without any relapse, God willing."
http://www.gulfnews.com/region/Iraq/10114823.html
Iraqi insurgency groups declare intention to drop arms -- president
Politics 3/31/2007 4:15:00 PM
Iraqi insurgency groups declare intention to drop arms -- president BAGHDAD, March 31 (KUNA) -- Iraqi President Jalal Talabani affirmed on Saturday that the leadership was holding continuous contacts with armed groups in a bid to persuade them join the national conciliation political process and renounce usage of arms.
Talabani, speaking at a ceremony marking credentials-delivery of the newly-named American Ambassador to Iraq, Ryan Crocker, and the new Japanese ambassador, affirmed that some of the armed groups expressed desire to join the process of normalization in the country.
"Some organizations that consider themselves as part of the national resistance have contacted us and expressed readiness to drop the arms and join the political process and we have welcomed them," Talabani said.
He praised resolutions of the recently-held Arab summit concerning Iraq, namely the decisions that denounce terrorism, call for setting debts and backing the national conciliation process.
The Arab summit, concerning Iraq, was successfull and all Iraqi proposals and demands were me -- unanimously, the president said.
On status of the (Shiite) Mahdi militia, Talabani said that he assured Crocker that the group was no longer significantly effective and that the top leadership has recently received no new complaints about activities of this militia from local Sunni quarters.
The government is bent on clamping down on terrorism and cooperating with the Multi-National Forces, he said.
He praised stand of Sunni tribes, namely Al-Zuwbaa' tribe, in confronting armed terrorists and elements of Al-Qaeda organization, west of the Iraqi capital.
Armed Sunni tribes have engaged in fierce clashes and fighting with Al-Qaeda followers in the region. (end) mhg.rk KUNA 311615 Mar 07NNNN
http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=1720445&Language=en
Cher - Half Breed
Cher - Gypsies, Tramps and Thieves
GLEN CAMPBELL - WICHITA LINEMAN
Glen Campbell Rhinestone Cowboy
JOHNNY RIVERS - Memphis
Environmental groups sue over Kearl project
Friday, March 30, 2007
CALGARY — A coalition of environmental groups has launched legal action in Canada's Federal Court to try to overturn recent regulatory approval of Imperial Oil Ltd.'s massive Kearl Oil Sands project in northern Alberta.
The groups, led by Sierra Legal, say the joint federal-Alberta regulatory panel “failed to do its job” when it gave conditional approval to the $7-billion Kearl open-pit mine late last month.
They argue that a full environmental review must take place before the federal government can decide whether the project should proceed.
“The panel's conclusion that a strip mine the size of 20,000 football fields with toxic sludge-filled tailings ponds visible from space will have no significant environmental effects makes a mockery of Canada's environmental assessment process,” said Stephen Hazell of Sierra Club of Canada.
Simon Dyer of the Pembina Institute environmental think-tank group said the project was approved even though the review panel acknowledged being “deeply concerned” about the failure of government to implement systems to protect the environment.
“The joint panel has rubber-stamped another oil sands mega-project in the absence of clear answers about how to restore wetlands, rehabilitate toxic tailings ponds, protect migratory bird populations, or address escalating greenhouse gas pollution,” Mr. Dyer said in a release.
The environmental groups said the regulatory panel approved the project based on “phantom” mitigation measures that are undeveloped and unproven.
And they say the panel's job is to identify measures that can be applied now to limit environmental effects of the project.
“If those measures don't yet exist, the joint panel has to advise the federal government of the true environmental costs of proceeding with the Kearl Oil Sands project,” said Sierra Legal's Sean Nixon.
The Kearl project, 70 kilometres north of Fort McMurray, is designed to include four open-pit mines and related facilities and employ 2,000 people.
It is the third major, multi-billion dollar oil sands project to be given regulatory go-ahead in the past five months.
The first phase of the project aims at producing 100,000 barrels daily, with a potential to triple that output with expansions.
Imperial and its parent company, Exxon Mobil Corp., currently have no plans to build a new upgrader in Alberta, despite the province's desire to keep more of the value-added processing work.
The approval, following three weeks of public hearings last November, imposed 17 conditions on Imperial Oil, relating to environmental and technical aspects of the project.
The panel also made eight recommendations to the federal government dealing with such environmental issues as water management and emissions technology.
It submitted 20 additional recommendations to the Alberta government, urging the province to address the lack of land, infrastructure and social resources in the booming Fort McMurray region.
Ya it seems that way.
I'd prolly be sick for a week if I tried to eat that much now.
Can still swill the booze though.
I've put away a 60 0z in one night before.
That was in my younger days.
The most I ever ate at a resturant was a 28 oz T. bone. 3 lobster tails baked potatoe and mushrooms. And I had Mussels for an appetizer.
After all that there was just enough room for a gallon of whiskey.
I'm with you John.
01 06 09 11 20 28 29
08 10 19 27 40 43 45
01 12 13 15 16 20 45
01 05 08 15 24 37 43
04 13 19 22 26 39 40
19 25 27 28 29 38 40
06 36 42 76
I don't know about. I've thrown enough mone at the likes of BEV.
ROTFLMAO!!!!!!!!!!!!!!!!!!!!!!!
Ticker: TSX - TOS
Shares Outstanding: 37,032,102
QUEBEC CITY, March 7 /CNW Telbec/ - TSO3 Inc. ("TSO3") (TSX: TOS)
announces another sale of its 125L Ozone Sterilizer to an American hospital.
This Michigan hospital is an acute care teaching hospital which has seen
significant growth in size and revenues in the last few years. Its surgical
focus includes hand, plastic, and thoracic/cardiovascular, as well as general
and urology. The hospital is a member of H2E (Hospitals for a Healthy
Environment), and demonstrates a strong commitment to protecting and
preserving the environment.
The hospital was the first medical facility in the state of Michigan to
be recognized for its environmental excellence when it received the Clean
Corporate Citizen Award. The hospital has established a well-regarded
environmental management system that, among other things, allows it to
identify and eliminate the use of harmful chemicals and reduce the amount of
medical waste that they generate.
"This latest sale in the United States confirms again that our
environmentally-friendly technology is well received by the market. We believe
that this sale also demonstrates the growing potential of our sales force, and
we are now reaping the rewards from their continued efforts," said Jocelyn
Vézina, the Chief Executive Officer of TSO3. "This sale yet again underlines
the benefits of having our own sales force and we believe that doubling our
sales force by the end of the year will ensure a more rapid and effective
penetration of our market. Our recent financing, which is expected to close
shortly, is giving us the means to intensify our commercialization activities
on all fronts."
"The customer's interest in ozone sterilization was piqued by our mutual
affiliation with H2E" said Ann Hewitt, Vice President, Sales and Marketing,
TSO3. "They had been using ethylene oxide to sterilize their heat sensitive
devices; as part of their initiative in environmental responsibility, they
decided to eliminate their dependence on ETO. After evaluating the low
temperature options available in the marketplace, they chose ozone
sterilization because of its environmental safety and because it generates no
sterilant packaging waste" she added.
About TSO3
TSO3 Inc. is located in Québec City, Québec, Canada, and was founded in
1998. The Company's mission is to develop and market innovative and
comprehensive sterilization solutions. TSO3 has perfected an innovative
sterilization process using ozone as the sterilizing agent. The first product
based on this technological platform is the 125L Ozone Sterilizer, which is
intended for hospital sterilization units. The 125L - named after its
125-litre/4.3-cubic-foot capacity - was designed to sterilize heat-sensitive
surgical and diagnostic devices which are expensive and in high demand from
the surgical suite. The ozone sterilization process is a safe, efficacious,
fast and cost-effective response to evolving sterilization needs.
The 125L Ozone Sterilizer by TSO3 has been cleared for commercialization
by Health Canada and by the U.S. Food and Drug Administration (FDA). TSO3
completed the sale of its first sterilizer in Q4 2005.
TSO3 currently has more than 50 employees, 23 of whom work in the sales
and marketing team.
For more information about TSO3, visit the Company's Web site at
www.tso3.com
The statements in this release and oral statements made by
representatives of TSO3 relating to matters that are not historical facts
(including, without limitation, those regarding the timing or outcome of any
financing undertaken by TSO3) are forward-looking statements that involve
certain risks, uncertainties and hypotheses, including, but not limited to,
general business and economic conditions, the condition of the financial
markets, the ability of TSO3 to obtain financing on favourable terms and other
risks and uncertainties.
The TSX has neither approved nor disapproved the information contained
herein and accepts no responsibility for it.
For further information: Mathieu Claise, Interim Director, Corporate
Communications and Investor Relations, (418) 651-0003, Ext. 237, ir@tso3.com;
Source: TSO3 Inc.
I see BEV hasn't come up for a breath of air yet.
No. Ya think it's worh a look
Iraq Banking and Finance Conference
April 4- 5, 2007
Intercontinental Hotel, Amman, Jordan
Banking in Iraq: The 21
st Century Challenge
ANNOTATED AGENDA
Tuesday, April 3, 2007
Participant arrivals and pre-registration
7:00 p.m. Welcome reception (Hotel Intercontinental)
Wednesday, April 4, 2007
8:00 – 9:00 Registration
9:00 – 9:30
Official Opening
Welcome addresses from Iraqi and U.S. officials
9:30 – 10:00 Opening Address
Overview of Banking in Iraq: Developments and Challenges
Speaker:
Governor of the Central Bank of Iraq
10:00 – 10:30 Keynote Presentation
Global Banking Developments and their Implications for Transition
Economies
10:45 – 11:15 Tea/Coffee Break
11:15 – 12:45 Plenary Session 1
The Role of the Central Bank in Implementing Monetary Policy
12:45 – 1:00 DISCUSSION
12:45 – 1:45 pm
PRESS BRIEFINGS (By invitation only)
Select invitees will gather in Room # …. Intercontinental Hotel for briefings with the Press Corps.
Details to be provided under separate cover
1:00 – 2:00 Lunch
2.00 – 3.00 Plenary Session 2
Prudential Regulation and Supervision of the Iraqi Banking System;
Risk Management Systems within the Commercial Banks; Effect of the
New Secured Transactions Law, etc.
3:00 – 3:15 Tea/Coffee Break
3:15 – 3:30 GROUP PHOTO
- 2 -
3:30 – 4:30 Plenary Session 3
Private Banks in Iraq – Current Status a nd Future Growth
4:30 – 5:30 Breakout Session 1
The Development of New Bank Products and Services (Including
Deposit Products); Islamic Banking Products; Bank Profitability and
Return on Assets Criteria.
Breakout Session 2
The Improvement of International and Domestic Wire Transfer Systems,
Check Processing, Clearing and Banking MIS Systems
7:30 – 9:00 pm Reception
Thursday, April 5, 2007
9:00 - 10:30 Plenary Session 4
State-Owned Banking Sector in Iraq - Developments
10:30 – 10:45 Tea/Coffee Break
10:45 – 12:15 Plenary Session 5
Banking and the Growth of the Private Sector: Building a Vibrant SME
Lending Industry: The Role of Loan Guarantees
12:15 - 1:15 Plenary Session 6
Strategy for the Microfinance Industry in Iraq – Outreach and Growth
1:15 – 2:15 Lunch
2.15 – 3:30 Breakout session 3
How to Support the Development of a Financial Services Training
Center
Breakout session 4
Bringing International Financial Standards to Iraqi Bank Financial
Statements/Annual Reports
3:30 – 4:00 CONCLUDING DISCUSSION
4:00 – 4:30
Closing Session
http://www.export.gov/iraq/pdf/usaid...genda_0407.pdf
I don't think that this global warming is man made.
Ear on the Street
AutoCanada Income Fund (ACQ.UN : TSX : $10.30)
Q4 sales up 39%
RBC Capital Markets maintains "outperform", 12-month target price is $11.50
Scotia Capital Markets maintains "sector outperform", 12-month target price is $12.50
Alexis Nihon REIT (AN.UN : TSX : $18.60)
2006 results as expected
RBC Capital Markets maintains "sector perform", 12-month target price is $18.60
Scotia Capital Markets maintains "tender", 12-month target price is $18.60
Angiotech Pharmaceuticals (ANP : TSX : $6.32 | ANPI : NASDAQ : US$5.45)
Xience SPIRIT III data very strong
Blackmont Capital places both rating and target "under review"
Desjardins Securities maintains "hold", 12-month target price is cut to US$7.25
Raymond James maintains "strong buy", 6-12 month target price is US$18.50
RBC Capital Markets maintains "outperform", 12-month target price is US$13.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is US$13.00
TD Newcrest maintains "hold", 12-month target price is US$7.50
Alimentation Couche-Tard (ATD.B : TSX : $23.75)
Acquisition of 28 sites in Ohio
TD Newcrest maintains "action list buy", 12-month target price is $33.00
Advantage Energy Income Fund (AVN.UN : TSX : $12.49)
Q4 slightly misses expectations
CIBC World Markets maintains "sector underperform", 12-month target price is raised to $12.00
RBC Capital Markets maintains "sector perform", 12-month target price is $10.75
Scotia Capital Markets maintains "sector underperform", 12-month target price is $11.50
Bulldog Resources (BD : TSX : $4.75)
A solid growth story
Canaccord Adams maintains "buy", 12-month target price is $6.75
Bioteq Environmental Techn. (BQE : TSX-V : $2.37)
Q4 misses
Canaccord Adams maintains "buy", 12-month target price is $2.75
Canam Group Inc (CAM : TSX : $10.33)
Joint venture in China
Raymond James maintains "strong buy", 6-12 month target price is $12.00
Canaccord Capital Inc. (CCI : TSX : $21.80)
New Street coverage
Kepler Teather & Greenwood Merrion initiates coverage with a "buy", 12-month target price is $26.00
Carfinco Income Fund (CFN.UN : TSX : $3.80)
Q4 preview
Blackmont Capital maintains "buy", 12-month target price is $4.75
Cargojet Income Fund (CJT.UN : TSX : $10.70)
Very strong Q4 results
RBC Capital Markets maintains "outperform", 12-month target price is not given
Connacher Oil and Gas (CLL : TSX : $3.90)
Q4 better than expected
GMP Securities maintains "buy", 12-month target price is $6.00
Raymond James maintains "outperform", 6-12 month target price is $4.50
CYBERplex Inc. (CX : TSX : $0.50)
Q4 beats expectations
GMP Securities maintains "buy", 12-month target price is $0.95
Draxis Health (DAX : TSX : $7.17 | DRAX : NASDAQ : US$6.18)
Improving growth prospects
Desjardins Securities upgrades to "buy", target price raised to US$7.25
Eldorado Gold (ELD : TSX : $7.08 | EGO : AMEX : US$6.08)
Releases 2006 year-end results
Blackmont Capital maintains "hold", 12-month target price is cut to $7.50
Canaccord Adams downgrades to "sell", target price is US$5.75
CIBC World Markets maintains a "sector outperform", target price is US$8.60
Haywood Securities maintains a "sector outperform", target price raised to $8.50
Raymond James downgrades to "market perform", 6-12 month target price is $8.00
RBC Capital Markets maintains a "sector perform", target price not provided
Forzani Group (FGL : TSX : $19.71)
Posts strong fourth-quarter results
CIBC World Markets maintains a "sector underperform", target price raised to $20.00
Desjardins Securities upgrades to "buy", target price raised to $25.00
Raymond James maintains a "outperform", 6-12 month target price raised to $23.00
Scotia Capital Markets maintains "sector outperform", 12-month target price is $24.00
TD Newcrest maintains a "buy", 12-month target price is $22.00
Gabriel Resources (GBU : TSX : $4.28)
All cashed up
Raymond James maintains a "outperform", 6-12 month target price is $6.75
Gennum Corp. (GND : TSX : $12.05)
First quarter results coming tomorrow
CIBC World Markets maintains a "sector perform", target price is $14.00
Scotia Capital Markets maintains "sector perform", 12-month target price is $17.00
Heroux-Devtek Inc. (HRX : TSX : $8.71)
Looking past the rumours
Raymond James upgrades to "outperform", 6-12 month target price is $10.00
Husky Energy (HSE : TSX : $79.16)
Slight increase in natural gas price forecast
Credit Suisse maintains a "neutral", target price raised to $85.00
Lake Shore Gold (LSG : TSX : $2.02)
Clears equity financing hurdle
Haywood Securities maintains a "sector outperform", target price cut to $3.05
MEGA Brands (MB : TSX : $26.23)
Fourth-quarter results expected March 30
Desjardins Securities reiterates "buy", target price is $30.00
Melcor Developments (MRD : TSX : $25.44)
Alberta markets to drive profitability
Desjardins Securities maintains a "top pick", target price raised to $39.40
Methanex Corp. (MX : TSX : $26.69 | MEOH : NASDAQ : US$22.95)
Lowered methanol price estimates
Blackmont Capital maintains "underperform", 6-12 month target price is cut to $17.00
CIBC World Markets upgrades to "sector perform", target price cut to US$23.00
Nova Chemicals Corp (NCX : TSX : $36.71 | NYSE : US$31.60)
Expanded joint venture with INEOS
RBC Capital Markets rates "sector perform", 12-month target price is raised to $35.00
Newport Partners Income Fund (NPF.UN : TSX : $6.22)
Awaiting Q4 results
RBC Capital Markets rates "underperform", 12-month target price is $6.25
Oilexco Inc. (OIL : TSX : $8.30)
Second rig contract extended
Canaccord Adams maintains "buy", 12-month target price is $14.00
Paramount Energy Trust (PMT.UN : TSX : $9.62)
Declining reserve
Blackmont Capital maintains "hold", 12-month target price is cut to $8.75
Potash Corp. of Saskatchewan (POT : TSX : $184.49 | NYSE : US$158.62)
Bringing back Patience Lake
RBC Capital Markets rates "outperform", 12-month target price is raised to $185.00
Quebecor Inc. (QBR.B : TSX : $39.92)
Final Q4 results reported
CIBC World Markets rates "sector perform", 12-month target price is cut to $46.00
Saputo Inc. (SAP : TSX : $44.59)
Acquires U.K. cheese producer
TD Newcrest maintains "buy", 12-month target price is $49.00
Shore Gold Inc (SGF : TSX : $7.55)
Results released and project update
RBC Capital Markets rates "outperform", 12-month target price is $10.50
Shell Canada (SHC : TSX : $44.95)
Natural Gas price forecast
Credit Suisse First Boston rates "underperform", 12-month target price is $45.00
Sterling Shoes Income Fund (SSI.UN : TSX : $16.15)
Q4/06 results released
TD Newcrest maintains "buy", 12-month target price is raised to $18.00
Suncor Energy (SU : TSX : $85.00)
Revised Natural Gas price forecast
Credit Suisse First Boston rates "outperform", 12-month target price is $110.00
TransAlta Corp. (TA : TSX : $25.00)
Positive takeaways from meetings with management
CIBC World Markets maintains a "sector outperform", target price is $28.00
Teck Cominco Ltd. (TCK.B : TSX : $82.43)
Rebound in copper price
TD Newcrest upgrades to "buy", 12-month target price is $95.00
TSO3 Inc. (TOS : TSX : $2.30)
No surprises in Q4 Results
Canaccord Capital maintains "speculative buy", 12-month target price is $5.50
TUSK Energy Corp. (TSK : TSX : $1.95)
Mixed bag of year-end financial, reserves and operating results
Canaccord Adams upgrades to "buy", target price cut to $2.75
Workbrain Corp (WB : TSX : $9.98)
Attractive acquisition candidate
RBC Capital Markets rates "sector perform", no target price reported