REX fell thru the toilet hoop today (lower ethanol prices)

REX down again (due lower ethanol prices?)

Biggest 1-day ethanol price drop I've seen in awhile. I assume there is downward pressure on ethanol prices as gasoline prices stay low.

OT: Kozuh, you need an exciting vacation.

May I suggest you fly to Baltimore and ask someone where you can find the restaurant with a giant ball of string in the basement. I was there about 25 years ago. Please get back to me after you find the giant ball.

CL put out a note yesterday that he sold REX and GPRE and reduced his PEIX.

PEIX news this AM (uses cash to increase plant ownership):

Pacific Ethanol Increases Plant Ownership to 96%
Pacific Ethanol, Inc.

SACRAMENTO, Calif., Sept. 2, 2014 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (PEIX), the leading producer and marketer of low-carbon renewable fuels in the Western United States, announced it has purchased an additional 5% ownership interest in PE Op Co., the owner of the Pacific Ethanol plants, for a total cash purchase price of $6,000,000. The acquisition increased the company's ownership interest in the Pacific Ethanol plants to 96%.

Neil Koehler, the company's president and CEO, said: "Increasing our ownership delivers an immediate earnings benefit to our shareholders at current production margins. With this purchase, our 96% equity ownership is at a weighted-average cost of thirty cents per gallon of annual operating capacity, which is a significant discount to both current market values and replacement costs. We are now net debt free at the plants, with cash balances exceeding third-party debt."

Per value1008, REX opportunity knocked and you opened the door. Congratulations, Wade.

Are you selling by stops or limit orders here? I sold a little in the $103s, but am holding the rest, expecting some positive clues on current qtr to push it higher during the 11am conf call.

'peeker

REX earnings release coulda/shoulda detailed what to expect in Q3/Q4 (as you suggested). I guess they listen more closely to their wives than they listen to their stockholders. I plan to hold my small position in REX at least long enough to listen closely for optimistic facts/comments about Q3 spread and expected revenues during the earnings call at 11.

Another Chen energy favorite POE.v/POEFF has been trending higher lately as they are drilling in Thailand, partnering for more drilling in Indonesia, and movind ahead in Canadian tar sands. So... good probability of positive news short-term may be the primary thing taking it slowly higher.

PEIX has had a few insider sales over the last 3 months? Has anybody looked closely at those sales? Just curious/anxious, as that could indicate some negative the company faces short-term. My thought is that PEIX will move in sympathy with REX tomorrow, though lesser percentage than REX, thus PEIX is somewhat safer to hold overnite than REX.

Of course REX has had regular large sales as well, though value1008 has mentioned that several times (something about the CEO spends money on antique papers, as if he was taking profits as an act of charity?).

Let's hope we ethanol stockholders don't wake up tomorrow feeling like our balls are stuck in a meatgrinder, and the only way to escape is turn the handle. Sorry, I digress!

Wade, if you added 3100sh of REX yesterday, you must be selling a lot of that today (to avoid Armageddon on earnings surprise). I thought you vowed long ago not to hold into earnings. REX will post earnings pre-open tomorrow. All REX holders need to get slammed tomorrow is a little negative surprise on railcar availability or other such variable.

That said, I do own some REX and some PEIX, though I'm just very surprised to hear you would add significant risk pre-earning on ethanol plays like REX, regardless of the obviously good potential.

REX traders will more than likely have a handful of itchy trigger fingers tomorrow morning.

Good luck!

'peeker

Down over eight points today. The next upleg we experience could just be this dog REX peeing on our collective shoelaces.

Amazing slapdown today on this low-floater.

I do own some REX and PEIX, and I have been wounded by this stinker today. Yowch!

On the bright side, volume has not been particularly high today (so far) on this "correction". It certainly looks like a better buy today than it did last week.

Good luck on the overdue bounce, which appears due based on the chart, but only time will tell how long it takes to bounce or how high it can go before earnings Wednesday. At least we know mgt will be inspired to be optimistic for the conf call after earnings.

My thoughts: It appears that SHOM is gaining strength because the company will grow revenues as they take over operations of medical service providers. Currently they only take revenue credit for a small percentage of each franchisee's monthly service revenues (as reported by each franchisee). In future SHOM will have more revenues and more costs as they take over the operations of a subset of their franchisees. Perhaps the market also imagines that SHOM will be able to grow service revenues more efficiently for the franchisees they are buying out.

??????? but I like the SHOM price and volume for sure ????????

SHOM: Southern Home took off today on news that they bought out some of their franchisees. Small, profitable business located in South Carolina. I've held it for over a year and happy to see the strong (>50%) move today on strong (>50X avg) volume.

Excerpt of today's news:

Southern Home Medical, Inc Announces Buyback of Franchisee Markets

Southern Home Medical Equipment Engages Waterford Holdings LYMAN, SC, United States, via ETELIGIS INC., 08/20/2014 - - Southern Home Medical, Inc. (OTC Pink: SHOM) (PINKSHEETS: SHOM), is pleased to announce the Company has completed the purchase of Encore Medical Staffing franchisee markets of Florence, Columbia, and Charleston, South Carolina; Nashville and Murfreesboro, Tennessee. The buyback of these offices is a critical stage in expansion of our product mix and corporate revenues. These acquisitions will boost operations, marketing, HR compliance, revenues, cash management and budgeting.

Jeff Sarvis, President & CEO of Southern Home Medical, stated, We are pleased with our acquisitions to date but more are close at hand. With our solid business plan moving forward, this is good news for our shareholders. This will create a more competitive business that allows us to expand our services to new clients, continue to build our culture of excellence, and strengthen our marketing efforts.

The company completed these transactions the last day of July with cash and stock.

About Southern Home Medical, Inc.:
Southern Home Medical, Inc. is a Holding Company with a focus on servicing the needs of the Healthcare Industry. The Company has quality health care professionals to support hospitals, rehab centers, nursing homes and other medical facilities providing RNs, LPNs, CNAs, RTs, Billing Specialist, Customer Service Specialist. With contractual agreements in Columbia, Greenville, Florence, Myrtle Beach and Lake Hartwell, South Carolina; Nashville and Murfreesboro, Tennessee; Baltimore, Maryland; Atlanta, Georgia. Southern Home Medical will leverage the success of these business areas to expand sales opportunities in other areas with health, medical and equipment needs.

Websites:
www.southernhomemedical.com
http://twitter.com/#!/southernhomemed
http://www.facebook.com/southernhomemedical
www.encoremedicalstaffing.com
www.apnearx.net
www.backgroundconsent.com

TGA earnings conf call transcript:

http://seekingalpha.com/article/2420255-transglobe-energys-tga-ceo-ross-clarkson-on-fgfq2-2014-results-earnings-call-transcript?app=1&uprof=5

HNR (up 8% to $5.02) conf call transcript:

http://seekingalpha.com/article/2410835-harvest-natural-resources-hnr-ceo-on-q2-2014-results-earnings-call-transcript?app=1&uprof=5

PEIX, GPRE, REX: Both GPRE and REX had new 52wk highs today. PEIX should be hitting a new 52wk high soon as well. Look at the beautiful 3mo chart of PEIX:

http://finance.yahoo.com/echarts?s=PEIX+Interactive#symbol=PEIX;range=1d

HNR reported earnings today. Did anyone happen to catch any pertinent details by listening to the conf call this AM?

I heard that Chen says HNR mgt is highly optimistic about completing Venezuelan asset sales and they see good potential based on interpretation of 3D seismics for their Gabon assets. Unknowns are: 1. how long it will take to close Venezuelan asset sale and
2. whether mgt will develop vs. sell Gabon assets and liquidate HNR.
Eventually we should expect a cash distribution for their Venezuelan asset sale and maybe another for Gabon asset sale.

Fingers crossed.

TIA,
'peeker

OT: As any passionate female investor knows. . .
size and market derection do matter!

REX reports earnings results when? TIA!

Totally OT:OT:OT: Interesting 1966 Ram Dass lecture on psychedelic experience and conscious living. Warning: This is NOT something for people in the job market to share widely NOR even "like" due to the drug-related subject matter. I just found it interesting because I was in high school at the time. It is a 3-part lecture, so too long for most to commit the time. Anyway, I'm just reminiscing about the good ol' days ... without FB or smartphones.

Psychedelics were used as zip code changers back in the day.

Bullish for ethanol producers. Anecdotal, but nonetheless, sounds encouraging to hear more reports of bumper corn crops.

http://www.bloomberg.com/news/2014-07-31/twin-corn-ears-expand-u-s-yields-with-bin-busting-crop.html

kozuh... thanks for the nice birthday wishes! Just reached Medicare eligibility... it's not quite as special as a summer day in the Rockies, but it beats a ride in your elevator. Mmmmwah!

Wade, tell Jim Cramer and make sure they stress your points in a special article about how undervalued it is. Yes, I was being a bit sarcastic. I do own it as my only ethanol stock, and I would like it to gain some strength.

We may actually see a good reaction if somebody puts out a nice article about PEIX and other ethanol players on TheStreet.com or SA or Barrons or anywhere.

Like you suggest, PEIX seems to be doing things better than GPRE to get their stronger earnings per share.

But it also seems that the ethanol players confuse investors and analysts alike, perhaps because of the diversity within the group. REX, AMTX, PEIX and GPRE all have their different situations (debt, hedging, cost factors, operational efficiencies, etc.) that seem to keep the group from moving strongly together.

Best Regards to all CH3OH players.

PEIX: Market will probably not move it much tomorrow since it missed estimates slightly on earnings but exceeded revenue estimates. Of course somebody will have to interpret the subtle adjustments, but it was a good quarter. It was good to see that they continued to pay down debt.

Conf call may help it gain some strength if they will express high confidence in even stronger margins ahead (railcars are running OK, ethanol expected to remain strong, and feedstocks are not getting more pricey for corn shipped to the west coast).

However, I don't expect it to POP to $25 or $30 or $40 anytime soon either!

'peeker

PEIX: Reports Strong Second Quarter 2014 [[misses by $0.06, beats on revs]] Reports Q2 (Jun) earnings of $0.77 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus Estimate of $0.83; revenues rose 37.3% year/year to $321.1 mln vs the $262.27 mln consensus

News Release:
Pacific Ethanol Reports Strong Second Quarter 2014 Results
-- Net income of $15.3 million or $0.68 per diluted share

-- Adjusted net income of $17.1 million or $0.77 per diluted share

-- Net sales of $321.1 million, compared to $233.8 million in Q2'13

-- Record total gallons sold at 132.2 million gallons, compared to 101.2

million in Q2 '13

-- Adjusted EBITDA of $27.8 million, compared to $6.6 million in Q2'13

-- Cash of $25.9 million at June 30, 2014 and $48.0 million at July 29, 2014

-- Eliminated all parent company debt and reduced consolidated plant debt by

$30.7 million to $17.0 million

SACRAMENTO, Calif., July 30, 2014 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (Nasdaq:PEIX), the leading producer and marketer of low-carbon renewable fuels in the Western United States, reported its financial results for the three- and six-months ended June 30, 2014.

Neil Koehler, the company's president and CEO, stated: "Our strong second quarter results reflect favorable market conditions and our on-going initiatives to improve plant efficiencies. We repositioned our company for profitable growth in the past few years by reacquiring and maintaining our production assets while improving our balance sheet. Going forward, we will focus on leveraging our production and marketing advantages to further increase profitability and expand our share of the growing market for low-carbon renewable fuels."

Financial Results for the Three Months Ended June 30, 2014

Net sales were $321.1 million, an increase of 37.4%, compared to $233.8 million for the second quarter of 2013. The company's increase in net sales is attributable to its record total gallons sold resulting from increases in both production and third party gallons.

Gross profit was $33.6 million, compared to $7.0 million for the second quarter of 2013. The improvement in gross profit was driven by significantly improved production margins and corn oil production.

Selling, general and administrative ("SG&A") expenses were $4.3 million, compared to $3.1 million for the second quarter of 2013. The increase in SG&A is primarily due to an increase in compensation costs tied to the company's continued profitable results and an increase in professional fees from higher corporate activity.

Operating income was $29.3 million, compared to $3.8 million for the second quarter of 2013.

Interest expense, net, was $2.9 million, which included a one-time expense of approximately $0.9 million related to accelerated amortization of deferred financing fees and debt discounts on early retired debt. Interest expense, net, was $4.0 million for the second quarter of 2013.

The company recorded a loss of $2.4 million on the early extinguishment of $14.7 million in debt during the quarter.

Net income available to common stockholders was $15.3 million, or $0.68 per diluted share, which includes an income tax provision of $7.2 million. Net income available to common stockholders for the second quarter of 2013 was $0.7 million, or $0.07 per diluted share.

Adjusted net income, which excludes fair value adjustments and warrant inducements and gain (loss) on extinguishments of debt, was $17.1 million, or $0.77 per diluted share, compared to an adjusted net loss of $0.7 million, or $0.05 per diluted share, for the second quarter of 2013.

Adjusted EBITDA was $27.8 million, compared to $6.6 million for the second quarter of 2013.

Cash at June 30, 2014 was $25.9 million, compared to $5.2 million at December 31, 2013. Cash at July 29, 2014 was $48.0 million following $19.7 million of warrant exercises in July.

Bryon McGregor, the company's CFO, stated: "During the second quarter, we made significant strides in further improving our balance sheet and liquidity to position us for continued growth. We raised net proceeds of approximately $26.0 million through an underwritten public offering, eliminated all indebtedness at the parent company level and we reduced our net consolidated plant term debt to $17.0 million. Since quarter-end, we also raised approximately $19.7 million from the exercise of warrants, leaving us with warrants outstanding to purchase only 1.6 million shares of common stock. This drop in warrants outstanding will reduce GAAP earnings volatility in future quarters."

Financial Results for the Six Months Ended June 30, 2014

Net sales were $575.7 million, compared to $459.3 million in the same period of 2013.

Net income available to common stockholders was $4.1 million, compared to loss of $5.0 million in the same period of 2013.

Adjusted net income was $41.8 million, or $2.04 per diluted share, compared to an adjusted net loss of $6.6 million, or $0.63 per diluted share, for the same period of 2013.

Adjusted EBITDA was $63.2 million, compared to $6.9 million for the same period of 2013.

Second Quarter 2014 Results Conference Call

Management will host a conference call at 8:00 a.m. PT/11:00 a.m. ET on July 31, 2014.

Neil Koehler, Chief Executive Officer, and Bryon McGregor, Chief Financial Officer, will deliver prepared remarks followed by a question and answer session. The webcast for the call can be accessed from Pacific Ethanol's website at www.pacificethanol.com. Alternatively, you may dial the following number up to ten minutes prior to the scheduled conference call time: (877) 847-6066. International callers should dial 00-1-(970) 315-0267. The pass code will be 78867900#.

If you are unable to participate on the live call, the webcast will be archived for replay on Pacific Ethanol's website for one year. In addition, a telephonic replay will be available at 2:00 p.m. Eastern Time on Thursday, July 31, 2014 through 11:59 p.m. Eastern Time on Thursday, August 7, 2014. To access the replay, please dial (855) 859-2056. International callers should dial 00-1-(404) 537-3406. The pass code will be 78867900#.

Use of Non-GAAP Measures

Management believes that certain financial measures not in accordance with generally accepted accounting principles ("GAAP") are useful measures of operations. The company defines Adjusted Net Income (Loss) as unaudited earnings before fair value adjustments and warrant inducements and gain (loss) on extinguishments of debt. The company defines Adjusted EBITDA as unaudited earnings before interest, provision for income taxes, depreciation and amortization, fair value adjustments and warrant inducements and noncash gain (loss) on extinguishments of debt. Tables are provided at the end of this release that provide a reconciliation of Adjusted Net Income (Loss) and Adjusted EBITDA to their most directly comparable GAAP measures. Management provides these non-GAAP measures so that investors will have the same financial information that management uses, which may assist investors in properly assessing the company's performance on a period-over-period basis. Adjusted Net Income (Loss) and Adjusted EBITDA are not measures of financial performance under GAAP, and should not be considered alternatives to net income (loss) or any other measure of performance under GAAP, or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted Net Income (Loss) and Adjusted EBITDA have limitations as analytical tools and you should not consider these measures in isolation or as a substitute for analysis of the company's results as reported under GAAP.

GPRE ... 4:55 pm Green Plains misses by $0.17, misses on revs (GPRE) : Reports Q2 (Jun) earnings of $0.82 per share, $0.17 worse than the Capital IQ Consensus Estimate of $0.99; revenues rose 4.1% year/year to $837.9 mln vs the $887.38 mln consensus.

Green Plains Reports Second Quarter 2014 Results
-- First half 2014 net income of $75.5 million, or $1.88 per diluted share

-- Company expects stronger EPS results for second half

OMAHA, Neb., July 29, 2014 (GLOBE NEWSWIRE) -- Green Plains Inc. (Nasdaq:GPRE) announced today its financial results for the second quarter of 2014. Net income for the quarter was $32.3 million, or $0.82 per diluted share, compared to net income of $6.0 million, or $0.19 per diluted share, for the same period in 2013. Revenues were $837.9 million for the second quarter of 2014 compared to $804.7 million for the same period in 2013.

"We are pleased to report another strong quarter as ethanol, distillers grains and corn oil set new production records. All of our plants were operating at optimal levels, even as rail transportation continues to impact movement of our products," said Todd Becker, President and Chief Executive Officer. "Market fundamentals are favorable and based on a continuation of these conditions, we expect stronger earnings per share performance in the second half of the year."

During the second quarter, Green Plains' ethanol production segment produced 241.9 million gallons of ethanol, or approximately 95.1% of its daily average production capacity. Non-ethanol operating income from the corn oil production, agribusiness, and marketing and distribution segments was $16.5 million in the second quarter of 2014 compared to $17.3 million for the same period in 2013.

Revenues were $1.6 billion for each of the six-month periods ended June 30, 2014 and 2013. Net income for the six-month period ended June 30, 2014 was $75.5 million, or $1.88 per diluted share, compared to net income of $8.5 million, or $0.28 per diluted share, for the same period in 2013.

"We continue to enjoy excellent fundamentals that are driving a robust margin environment. Our balance sheet is in the strongest position of our history, with significant cash and liquidity, as a result of cash generated from operations and the recent refinancing of term debt," stated Becker. "Our focus and energy continues to be on growth of all of our business segments and we believe there are ample opportunities to achieve this objective."

Green Plains had $374.7 million in total cash and equivalents and $145.4 million available under committed loan agreements at subsidiaries (subject to satisfaction of specified lending conditions and covenants) at June 30, 2014. Second quarter 2014 EBITDA, which is defined as earnings before interest, income taxes, depreciation and amortization, was $74.5 million compared to $30.5 million for the same period in 2013. For the six-month period ending June 30, 2014, EBITDA was $168.6 million compared to $55.3 million for the same period in 2013. For reconciliations of net income to EBITDA, see "EBITDA" below.

Second Quarter 2014 Business Highlights

-- In June 2014, Green Plains Processing LLC, a wholly-owned subsidiary of

Green Plains, completed a $225 million Senior Secured Credit Facility due

in 2020. The proceeds of the credit facility were used to refinance debt

outstanding at five subsidiaries in the ethanol production segment.

Credit ratings assigned to the credit facility from Standard & Poor's and

Moody's are BB and B2, respectively. Green Plains Inc. corporate credit

ratings are B+ and B2 from Standard & Poor's and Moody's, respectively.

-- In June 2014, Green Plains acquired the assets of Supreme Cattle Feeders

from Agri Beef Co. The asset acquisition includes the feed yard doing

business as Supreme Cattle Feeders and the Cimarron Grain storage

facility based near Kismet, Kansas. Supreme Cattle Feeders financial

results are reported as a part of Green Plains' agribusiness segment. The

operation consists of approximately 2,600 acres of land that has the

capacity to support 70,000 head of cattle. Supreme's current corn storage

capacity, including the Cimarron Grain facilities, is approximately 3.8

million bushels.

-- Mr. Gene Edwards joined the board of directors of Green Plains Inc.

effective June 19, 2014. Mr. Edwards has extensive experience in the oil

and gas industry, previously serving as Executive Vice President and

Chief Development Officer of Valero Energy Corporation until his

retirement in April 2014. He began his 32-year career at Valero as an

Analyst in Planning & Economics and spent his tenure with Valero in

various managerial positions in Planning and Economics, Refinery

Operations, Business Development and Marketing.

Conference Call

On July 30, 2014, Green Plains will hold a conference call to discuss its second quarter 2014 financial results and other recent developments. Green Plains' participants will include Todd Becker, President and Chief Executive Officer, Jerry Peters, Chief Financial Officer, and Jeff Briggs, Chief Operating Officer. The time of the call is 11:00 a.m. ET / 10:00 a.m. CT. To participate by telephone, the domestic dial-in number is 888-455-2263 and the international dial-in number is 719-325-2428. The conference call will be webcast and accessible at www.gpreinc.com. Listeners are advised to go to the website at least 10 minutes prior to the call to register, download and install any necessary audio software. A slide presentation will be available on Green Plains' website at http://investor.gpreinc.com/events.cfm. The conference call will be archived and available for replay through Aug. 5, 2014.

MMT.to/MAUXF: Anyone hearing anything?

Umugini pipeline should be operational by end of August.
Umu3 horizontal flow test underway.
Umu4 horizontal drilling underway.
CEO says Umusadege production could reach 35K boepd by end of 2014.
Teaming to buy block OML18 from Shell (slow negotiations).
Possible PP or London IPO this year to help fund OML18 purchase.
Ongoing 20%+ losses using existing Agip pipeline.

Risk/Reward Issues:
Umugini pipeline improves cashflow; lowers risk.
OML18 purchase price is unknown. Borrowing from banks in Nigeria is not cheap, so MMT will have to do a PP or London IPO eventually.
Slow drilling history at Umusadege could be repeated with OML18, so may have trouble ramping production/cashflow and proven reserves quickly.

Ethanol producers like hearing this! Corn aplenty!

http://www.bloomberg.com/news/2014-07-17/corn-drops-as-u-s-crop-outlook-boosts-global-supply-prospects.html

Corn Drops as U.S. Crop Outlook Boosts Supply Prospects
By Whitney McFerron and Phoebe Sedgman Jul 17, 2014 8:27 AM ET
0 Comments Email Print

Corn declined in Chicago, trading near a four-year low, on expectations that a bumper U.S. harvest will maintain ample global supplies. Soybeans were little changed.

Corn crops in the U.S., the biggest producer and exporter, are developing in the best shape in 20 years in the country’s main growing areas, U.S. Department of Agriculture data show. The agency forecasts the crop will reach 13.86 billion bushels, the second-highest on record. Crops in the Midwest have enough moisture, and warmer weather in the next 10 days probably won’t be hot enough to damage plants, forecaster DTN said today.

“The market is monitoring what the U.S. crop is doing,” Graydon Chong, an analyst at Rabobank International, said by phone from Sydney. “There’s no doubt that we continue to see a big crop coming our way.”

Corn for December delivery fell 0.6 percent to $3.845 a bushel at 7:08 a.m. on the Chicago Board of Trade. Prices rose yesterday on signs of export demand for U.S. supplies after falling to $3.7825 on July 15, the lowest since July 2010.

Corn tumbled 23 percent in the past year on prospects that a second straight bumper U.S. harvest will boost global supply. World inventories will be 188.05 million metric tons before the start of the 2015 harvest, up from 173.42 million estimated for this year and the highest since 2000, the USDA said on July 11.

PEIX ... I guess the bottom line on our difference of opinion is that IMHO, you and Wade are both more optimistic than I. As for the ethanol stocks as a group, they are in a good place, but (as I'll continue to opine) a sudden shift in weather, an adverse govt ruling on ethanol usage, or a noisy lawsuit could quickly shuck the optimism and limit P/E expansion.

By the way, did the oceanographers ever declare whether Pacific currents imply high probability of Santa Ana winds this fall?

Ethanol stocks have had some good things going for them lately (corn and ethanol prices, in particular), however, I cannot be as bullish on their future stock price as "value" and "wade" keep professing. Investors are certainly well aware of the annual weather risk associated with ethanol stocks, so I expect them to have very limited P/E expansion, if any at all.

I do own some PEIX, but I expect stock price would have considerable trouble breaking and staying above $20, with the only justification for a higher price being a market expansion caused by the Chinese deciding to import ethanol. The Chinese decision to subsidize electric cars is certainly helping KNDI.

Didn't Keith Shaeffer sell all or most of his PEIX? I think he had 30,000 shares at one time but sold most of it along the way.

Canamex (CSQ.v/CNMXF) news:

RC Hole B-1425

Reverse circulation drill hole B-1425, drilled into the East Zone at the historic resource area* intersected 145 feet (44.2 metres) grading 0.203 oz/ton Au (6.97 g/tonne Au ) from 40-185 feet (12.2-56.4 metres) depth. Within this zone is a high-grade interval from 60-85 feet (18.3-25.9 metres) that grades 0.81 oz/ton (27.91 g/tonne) Au and 9.55 oz/ton (327.3 g/tonne) Ag.

http://finance.yahoo.com/news/canamex-drilling-intersects-44-2-070000029.html

17:40 AMTX
Aemetis announces U.S. EPA approval and EU ISCC Certification for distilled biodiesel (10.02 -0.18)
Co announced that it has received EPA approval for the issuance of D4 RINs upon the importation into the U.S. of biodiesel produced from waste fats and oils (WFO). The EPA also approved the issuance of D6 RINs when biodiesel is produced using other feedstocks. Aemetis built and operates a 50 million gallon per year capacity distilled biodiesel production facility on the East Coast of India.

The superior quality and low carbon intensity biodiesel produced at the Aemetis India plant has recently earned International Sustainability and Carbon Certification (ISCC) Category 2 certification. With the recent construction and commissioning of a biodiesel distillation column at the India plant, the company is producing a colorless biodiesel with 99.5% esters and nearly no monoglycerides, water or other contaminants. Aemetis biodiesel has met and exceeds all D6751 biodiesel specifications, allowing for use in all diesel engines.

Canamex (CSQ.v/CNMXF) doing great today on news! Drill results:

Up 30% on 20x avg volume. This is a Chen pick (on partner Jay Taylor's recommendation) from a couple of weeks ago.

http://finance.yahoo.com/news/canamex-drilling-intersects-44-2-070000029.html

BXE upgrade!
06:57 Bellatrix Exploration: Solid operational update with strong anticipated growth; Outperform, tgt $12 -- Northland Capital (Thursday's close was $8.95)

EMES ... How did we miss this frac sand supplier?

09:45 from Briefing.com (paid) service

Emerging Growth Stocks: Long-time & currently ranked #2 GROWX co. EMES with a strong +4.2% bid into new ATH @ 116.90 in early trading this morning on the heels of pre-market price tgt raise over at Stifel
Emerge Energy Services target raised to $120 at Stifel: Stifel raises their EMES tgt to $120 from $85 after co announced an amendment to its Sand Supply Agreement with Schlumberger Technology to increase its annual committed volumes to 1.5 mln tons/yr for two years following the Amendment. With the closing of this agreement, EMES has 5.5 mln tons/yr under long-term supply contracts, which is approximately 60% of their capacity when including the two proposed dry plants coming on line over the next 6 to 9 months. The avg remaining life of the long-term contracts is 4.4 years.

EMES is primarily a supplier of silica sand, a key input for the hydraulic fracturing of oil & gas wells. The co also operates a fuel processing and distribution business. The stock has made a huge move since making its IPO debut in May 2013. EMES is seeing very strong demand and pricing for its frac sand as the horizontal drilling boom is in full swing and is expected to continue for years. And not only are more horizontal wells being drilled, but E&P companies are focusing more on longer wells which require even more frac sand. Of note, EMES primarily sells Northern White Sand, which is higher margin as it's the highest-quality raw frac sand available on the mkt. The stock jumped in mid-March on a strong Q4 report and again in early May on Q1 results, which mgmt described as the co's best qtr since going public. To handle brisk demand, EMES is expanding capacity with two new frac sand complexes expected to become operational as early as 4Q14. Finally, EMES is a limited partnership so it pays a big dividend.

GV: What is a "significant multiple"?

My thought about the CEO's recent comment about backlog could increase by a "significant multiple" is that the term may be open to translation, that is, he may mean backlog could increase by a "significant multiple" such as 1.3-1.6 vs. the optimistic assumption that he must have meant backlog would increase by a factor of 3-6.

In other words, believing that backlog and annual business revenues would double or triple over the next couple of years is very ill advised.

(IMHO)
'peeker

ps> The safer standard for investment purposes is to believe that all CEOs are liars; some just lie less extravagantly than others.

TARM now into fruit packaging?

http://www.taraminerals.com/English/News/PressReleases/PressReleaseDetails/2014/Tara-Minerals-Acquires-Disruptive-Packaging-Technology/default.aspx

"Motif" Investing; interesting new concept!!!

https://www.motifinvesting.com/how-it-works/overview

Trade baskets of stocks associated with particular themes (motifs) that you believe will do well in future.

Good way to lower risk and get a piece of several companies engaged in the same type of business. Very creative and innovative way to trade and much more customizable than ETFs.

Even allows social networking connection to circles of other investors.

I've never tried it before but sounds pretty interesting!!!

Thoughts?

Potential for Ethanol imports to China:

Good article on offered by CL:

http://www.ethanolrfa.org/exchange/entry/expanding-american-ethanol-to-china/

China tends to use less effective methanol, etc. for mixing with gasoline fuels. This article was written after a US delegation visited China to talk about ethanol use.

Wade, I thought PEIX was headed to $9 (as Nasdaq flopped) ... or was it $30-$40 (as quarterly earnings per share exceeded $3). Excuse me, but we all know this is not a typical value microcap with predictable earnings over a long term.

My point is simply that it's always been a commodity stock with stock price based on prices of its underlying commodities (i.e., margin determined by corn crush spread vs. ethanol price) and efforts to improve plant efficiencies.

Nice PEIX presentation; thanks!