full-time investing; total portfolio up over 130% in 2009; but 2010 sucks!
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Why China Is An Ideal Market for Plug-In Electric Cars
By EV World Television
Yibing Wu, the Managing Director of Beijing-based Legend Holdings, briefs The Business of Plugging In conference
In this video from "The Business Of Plugging In 2009" conference, Yibing Wu, the the Managing Director of Beijing-based Legend Holdings, gives his perspective on why China is rushing to develop and introduce plug-in electric vehicles, noting a number of key factors driving this trend including:
* Like the USA, it is China's national strategy to reduce it dependence on imported oil and cut its overall carbon foot print.
* The recognition that 40-55% of pollution in China comes from transportation sector and must be controlled.
* China sees a shift to electric drive as a way to leap frog past the investment in an IC engine infrastructure, putting the nation on an equal footing with international competitors.
China is well on its way to wide acceptance of electric vehicles with tens of millions of electric bicycles and scooters already on its streets. While most are still powered by lead-acid batteries, the 80% that do utilize lithium ion batteries in China come from a subsidiary of Legend Holdings.
Mr. Wu also noted that because most Chinese are first time buyers of any type of automotive product, their expectations for the technology aren't as high as Western car buyers and they tend to be more "forgiving." Also, most Chinese affluent enough to afford a car, live in China's largest cities and have short commute distances; again, ideal for adoption of plug-in cars.
Because the Central Government charges excise taxes that can double the price of a car, it has a lot of latitude in the way of economic incentives to help stimulate BEV and PHEV sales in the nation. It now provides the equivalent of a US$9,000 tax credit for the purchase of an pure electric car; and US$7,500 for a hybrid.
Recently, the government designated three cities to serve as electric car demonstration centers starting in 2011. It's monopoly control of the national power grid also provides it with the ability to encourage consumer purchases of electric drive vehicles. Beijing has set a goal of producing half a million hybrid and plug-in vehicles annually starting in 2012
However, for all its strengths, Wu acknowledged that China's car industry is still highly fragmented and continues to lag behind the West in its IC engine technology, which is a critical component in the development of PHEVs. This, he said, offers OEMs in the West the opportunity to participate in the spread of EV technology in China.
Multitasking, for example, lets you have a web page open, an email inbox open, a texting application all running at same time. I haven't seen any mobile phone allow for tabs to have multiple web pages connected at same time. Also, if you can wait a few months (maybe mid-2010), Apple is working on an all-in-one tablet device. Details:
CNN Money.com reports the co's lips are sealed about its widely rumored tablet computer, but technology experts are giddy about the device, already exclaiming it will be the gadget to end all gadgets. Executives at Apple never discuss products that are in the works, so there's no confirmation that the thing even exists. But rumors are circulating that Steve Jobs and Co. have designed a magazine-sized, touch-screen, hand-held, all-in-one device that is half-iPhone, half-Macintosh computer. It's supposedly going to make its debut in the next few months, and you can have it for the low, low price of $600. Or $800. Maybe $1,000. No one's really sure. If the rumors are true, the tablet will be able to do basically everything a gadget could possibly do. It's an e-reader, a gaming device, and a music player. You can watch TV and movies on it and surf the Internet (or so we've heard). And it will have thousands of third-party apps available for it ... or maybe it will run Mac OS X. That's all still unknown.
IACAF.pk ... after a nice move, I sold half @ .9165/sh today, and it kept moving higher.
'peeker
ps> When I sold, only Schwab was showing the correct price, even though I sold thru AMTD acct.
Right now, this is what I see in 3 different trading accts.
Schwab shows Bid/Ask of .93 x .94 and .94 as HighofDay.
Scottrade shows a closer Bid/Ask (.912 x .942) but still shows .88 as HighofDay.
AMTD shows No BidxAsk prices at all for pink sheets of Canadian stocks, but still shows .8815 as HighofDay even though I sold my shares thru them at .9165 ....
cl001, could you share your thoughts about APG.to/AGT earnings report? Apart from earnings, I am most concerned about the average grade being recovered at Black Fox. The bank, it would appear, is willing to work out a new repayment schedule, but I'm surprised they haven't already announced the particulars.
Kudos to MontyHigh on the assessment of financials / quarterly results.
'peeker
CNOA and TBUS getting creamed today, not in a good way.
09:08 PRIM: Primoris Services (PRIM) announces that its wholly-owned subsidiary, ARB, Inc., has signed a contract with the City of Riverside, California for the construction of a new simple-cycle combustion turbine generator power plant that will expand the existing capacity of the Riverside Energy Resource Center to provide peak power demand to the City of Riverside's public utilities customers. The project is expected to generate revenues of ~ $20.0 mln to Primoris over an 11-month period beginning December 2009 and ending October 2010... TiVo (TIVO) announces lower prices for products. The TiVo HD DVR is now available for only $249.99 and the TiVo HD XL is now $499.99 plus the cost of service... World Heart Corporation (WHRT) announces that it has finalized assignment and exclusive license agreements with LaunchPoint Technologies Inc and Carnegie Mellon University for its next-generation minimally invasive blood pump, the MiVAD. The MiVAD is designed to provide partial cardiac support between 2-4 liters per minute to less sick heart failure patients than those served by existing full-support Left Ventricular Assist Devices... Zhone Technologies (ZHNE) announces that Hardy Telecommunications has selected Zhone platforms and SLMS Access Operating System to expand tiered broadband offerings to business and residential customers throughout its rural West Virginia serving area... Emulex Corp (ELX) announces the availability of a new combined 8Gb/s Fibre Channel and 1Gb/s Ethernet ExpressModule Host Bus Adapter for the Sun Blade 6000 Modular System.
APWR:
The U.S. Renewable Energy Group & A-Power Energy Generation Systems, Ltd. Announce Plans To Build a Wind Energy Turbine Production and Assembly Plant in the United States
WASHINGTON, Nov 16, 2009 /PRNewswire via COMTEX/ --
The U.S. Renewable Energy Group (US-REG) has signed a cooperation agreement with A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) under which both sides commit mutually to the development and construction of a new production and assembly plant in the United States that will supply highly advanced wind energy turbines to renewable energy projects throughout North and South America. The state-of-the-art facility is expected to be 320,000 square feet and produce 1,100 megawatts of wind energy turbines annually, enough to power 330,000 homes. Upon completion, the facility is expected to employ approximately 1,000 American workers and will create additional jobs during the construction process. In addition to production and assembly at the new plant, the plan calls for many of the key wind turbine components to be sourced from U.S. manufacturers, further expanding the number of jobs created in the United States.
This agreement marks the culmination of a long process initiated in 2007 during which A-Power conducted economic analysis and sought strategic partners to enter the U.S. wind power market. On October 29, 2009, Shenyang Power Group (SPG) and US-REG announced plans to develop a $1.5 billion, 600MW wind farm across approximately 36,000 acres in Texas, for which A-Power has been designated as the turbine supplier. A-Power is a shareholder of SPG. The construction of this production and assembly plant is an important step in the strategic partnership with SPG and A-Power to develop clean wind energy in the United States. The construction of the assembly and production plant is subject to further due diligence and the signing of definitive agreements between the parties, as well as various government approvals.
"US-REG and A-Power are combining investment, expertise, and resources to bring clean, reliable, and affordable renewable technologies to the marketplace," said Ed Cunningham, US-REG Managing Partner. "This planned investment will spur tremendous growth and allow many out of work Americans to re-enter the work force in the high-paying, renewable energy sector."
"We are committed to clean energy development and we are excited to partner with US-REG to build a production and assembly plant in the United States," said John Lin, A-Power's Director and COO. "A-Power sees great opportunities in renewable energy in America and this state-of-the-art facility will be our first major step towards bringing clean, renewable energy to the world's largest wind power country."
"The decision to construct this wind energy facility in the United States is the direct result of America's commitment to renewable energy and the strength and skill of the American workforce," said Cappy McGarr, US-REG Managing Partner. "This project expects to create thousands of American jobs and is further evidence that President Obama's goal of reducing our reliance on foreign oil and achieving energy independence is opening doors to increased investment and technological developments in the U.S. renewable energy market."
APWR: The U.S. Renewable Energy Group & A-Power Energy Generation Systems, Ltd. Announce Plans To Build a Wind Energy Turbine Production and Assembly Plant in the United States
WASHINGTON, Nov 16, 2009 /PRNewswire via COMTEX/ --
The U.S. Renewable Energy Group (US-REG) has signed a cooperation agreement with A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) under which both sides commit mutually to the development and construction of a new production and assembly plant in the United States that will supply highly advanced wind energy turbines to renewable energy projects throughout North and South America. The state-of-the-art facility is expected to be 320,000 square feet and produce 1,100 megawatts of wind energy turbines annually, enough to power 330,000 homes. Upon completion, the facility is expected to employ approximately 1,000 American workers and will create additional jobs during the construction process. In addition to production and assembly at the new plant, the plan calls for many of the key wind turbine components to be sourced from U.S. manufacturers, further expanding the number of jobs created in the United States.
This agreement marks the culmination of a long process initiated in 2007 during which A-Power conducted economic analysis and sought strategic partners to enter the U.S. wind power market. On October 29, 2009, Shenyang Power Group (SPG) and US-REG announced plans to develop a $1.5 billion, 600MW wind farm across approximately 36,000 acres in Texas, for which A-Power has been designated as the turbine supplier. A-Power is a shareholder of SPG. The construction of this production and assembly plant is an important step in the strategic partnership with SPG and A-Power to develop clean wind energy in the United States. The construction of the assembly and production plant is subject to further due diligence and the signing of definitive agreements between the parties, as well as various government approvals.
"US-REG and A-Power are combining investment, expertise, and resources to bring clean, reliable, and affordable renewable technologies to the marketplace," said Ed Cunningham, US-REG Managing Partner. "This planned investment will spur tremendous growth and allow many out of work Americans to re-enter the work force in the high-paying, renewable energy sector."
"We are committed to clean energy development and we are excited to partner with US-REG to build a production and assembly plant in the United States," said John Lin, A-Power's Director and COO. "A-Power sees great opportunities in renewable energy in America and this state-of-the-art facility will be our first major step towards bringing clean, renewable energy to the world's largest wind power country."
"The decision to construct this wind energy facility in the United States is the direct result of America's commitment to renewable energy and the strength and skill of the American workforce," said Cappy McGarr, US-REG Managing Partner. "This project expects to create thousands of American jobs and is further evidence that President Obama's goal of reducing our reliance on foreign oil and achieving energy independence is opening doors to increased investment and technological developments in the U.S. renewable energy market."
13:07 WOW! Gold at $1138; new all time high; up $20 today.
Why should "major buying" suddenly occur on the Frankfurter exchange?
10:30 Commodities UPdate:
Commodities are trading considerably higher as the Dollar Index extends its slide to a 0.6% loss. That has left it down nearly 8% year-to-date and just fractionally above its 52-week lows... The dollar's doldrums have been particularly beneficial to precious metals prices. Gold is currently at fresh all time highs of $1133.80 per ounce, up 1.5%. Meanwhile, silver is up to its best level in a month as it surges 4.7% to $18.19 per ounce... Energy prices are also faring well. Crude contracts last quoted oil prices 2.5% higher at $78.25 per barrel. As for natural gas, contract prices were last quoted 3.7% higher at $4.56 per ounce... The broad-based buying has sent the CRB Commodity Index up 1.3%. That's one of the best single-session percentage advance this month, second only to a 1.7% spike in the early part of last week..
Digital Ally (DGLY) announced that it has, to date, received orders for fourth quarter delivery from nine domestic law enforcement agencies with a combined value of almost $1 million. This will represent a record number of individual orders in excess of $100,000 each to be shipped in a single quarter...
Take me with you; I'll give it my best shot!
AGT: Good point, Bob. Let's hope their hedges (derivative losses) don't kill the stock price when results are announced. Yes I know it's really about cash flow and free cash flow... but it's impossible to have much confidence about any company experiencing production startup hiccups and operational tuning.
Don't get me wrong; I still hold a lot of AGT and am optimistic about outlook LONGERTERM, but (as you certainly know) financial reports do matter along the way.
'peeker
APG.to production numbers for October are due. They announced September numbers on Oct 5, so I'm concerned production showed gold less than 4.0 gm/tonne. We'll see sooner or later, but yes they are now about a week late in November in that last month's September report was 5 wks ago.
I assume they may also have an issue with the "lower grade" ore they are subcontracting to another mill. Chances are that company will not be able to mill much more ore from Apollo if their own ore is now ready for processing, leaving Apollo with lower grade ore they must process their own mill (reducing avg grade) or find another mill to take Apollo's lower grade ore.
ZSTN: Earnings Monday; CC at 11am.
ZST Digital Networks, Inc. Schedules 2009 Third Quarter Earnings Release on Monday, November 16, 2009--Earnings Conference Call to be held on Monday, November 16, 2009 at 11:00 am (US Eastern Standard Time) / 8:00 am (US Pacific Standard Time) on Tuesday, November 17
ZST Digital Networks, Inc. , a major developer, manufacturer, and supplier of digital and optical network equipment to cable system operators in China, announced today that it will release unaudited financial results for the third quarter ended September 30, 2009 before the NASDAQ market open on Monday, November 16, 2009.
The earnings release will be available on the investor relations page of the Company's website at http://www.shenyangkeji.com/english/investor.asp .
Following the release of the earnings announcement, ZST senior management will host a conference call at 11:00 am (US Eastern Standard Time) / 8:00 am (US Pacific Standard Time), 12:00 am (HK / Beijing Time on Tuesday, November 17) to discuss its 2009 third quarter financial results and recent business activity.
The conference call may be accessed by calling +1-866-519-4004 (for callers in the US), +800-819-0121 (for callers in China), +800-930-346 (for callers in Hong Kong), +0808-234-6646 (for callers in United Kingdom) or +65-6735-7955 (for other international callers) and entering pass code 41640280. Please dial in approximately 10 minutes before the scheduled time of the call.
TELT: Tampa Business Journal news.
http://tampabay.bizjournals.com/tampabay/stories/2009/11/09/daily64.html?ana=yfcpc
Teltronics Inc. used a 75 percent revenue boost to push itself into the black in the third quarter.
The Sarasota telephone switching system developer reported a profit of $2.3 million, or 23 cents per share, in the quarter ended Sept. 30, compared with a $188,000, or 2 cents per share, loss the year before. That was on much stronger sales of $14.2 million — almost all coming on the heels of product sales and installation — compared with $8.1 million the year before.
The sales jump, Teltronics said in a filing with the Securities and Exchange Commission, was primarily the result of better sales of its 20-20 product, which offset slight deceases in the Intelligent Systems Management product market.
That now gives Teltronics a $4.5 million, or 48 cents per share, profit for the first three quarters on revenue of $35.6 million. The year before, Teltronics was operating on a $2.3 million, or 26 cents per share, loss on revenue of $26.2 million.
Teltronics (NASDAQ: TELT) shares were trading at $1.60, more than 83 percent better than their Wednesday close of 87 cents. The company’s shares have traded between 1 cent and $1.95 over the past year.
TELT: Rereading that hweb post makes me leery though.
Particularly, Hweb said that the IR lady at TELT said Q4 and Q1 are weaker qtrs than Q2-Q3, so how can we determine how far to expect revs/eps to DROP sequentially from Q3 to Q4?
Tough little puzzle. I can understand that TELT would be very cautious with any PR wording to prevent litigatiion that might ensue. If they put out a celebratory PR that made the stock fly, then followed it with poor Q4 earnings, lawyers would start filing shareholder lawsuits in a NY minute.
In other words, I guess I'm just saying that if the company does put out a PR, any "business outlook" wording would need to buffer the unbridled optimism resulting from great Q2 and Q3 reports.
Thus, it's hard to know a fair PPS for TELT at this point. I guess before investing a large portion of a portfolio one should look at prior year trends and expect similar ratios among the qtrs. Of course questioning the IR lady about pipeline and future business expectations would also be very important.
'peeker
KiK (me), how / where / when did you get first notification of the TELT results this AM.
In fact, I still haven't seen the filing/announcement.
'peeker
10bagger, verrrry nice trade. How did you get an alert on TELT so early this AM? I didn't see it mentioned here til KIK's note at 11:37.
I need a new alert service.
Have a great day (even after you wipe that big grin off your face),
'peeker
Briefing.com Swing Trader: S&P Notches a Fresh New High, But Expect Upward Momentum To Wane
After Tuesday's day of rest/consolidaiton after a 6-session rally off the early November low, the market resumed its strength on Wednesday taking the S&P up through the October peak of 1101. A high of 1105.37 was notched during the first 30-minutes of trade, before prices succumbed to selling pressure. The major indices finished positive on the day, but still leave a near-term "overbought" state in effect.
On the SPX chart below, the highlighted yellow areas represent the similarities of the first 2-weeks action in November, October and September. I personally cannot recall a time were the patterns are almost identical in depth and duration, but more impressively identical in the same time periods surrounding month-end and the first 2 weeks of the month. If the past is any indication of the future, I would guess that the market is due for some sort of sideways chop here along the highs into next week's Expiration (Nov 20).
Market internals/sentiment readings are mostly in the "neutral" zone, so that too confirms the potential for a chop the next few days. Take particular caution on being aggressive Short up here, especially into weakness. The series of 7 "higher lows" will likely have the crowd turning bearish on the next "lower low" which could set-up a short-squeeze. Probably best to Short into strength at this point.
The chart below shows the Relative Underperformance of the Banking sector (BKX) during the last few weeks. The group has lagged the broader market considerably and should set-up Shorting opportunities as prices run into resistance zones. Keep watch on stocks like BAC, COF, CMA, JPM, NTRS, PNC, GS, STT, and WFC as possible Shorts, along with Financial ETFs, IYG, XLF, FAS.
Any further questions, comments or suggestions can be emailed to Scott Smith, ssmith@briefing.com
APWR and others Solar companies mentioned as beneficiaries in article about Chinese currency appreciation.
http://seekingalpha.com/article/172930-yuan-s-appreciation-will-boost-solar-earnings?source=yahoo
SSKILLS1, I always appreciate your opinions. Your big bet on QID has been painful, no doubt, due continued strength of AAPL, GOOG, etc., but I understand you're expecting the strong runup will be followed by a quick correction somewhere along the way.
Good luck,
'peeker
SSKILLZ1, you've been lightening up a lot lately. Are you net short at this point?
'peeker
08:46 YUII (up 10% premkt): Yuhe International reports Q3 upside; lowers FY09 rev outlook; reaffirms FY09 net income
Yuhe International reports Q3 EPS of $0.26 vs $0.25 two est avg; revs rose 38% YoY to $13.2 mln vs $13.03 mln two est avg. Co lowers FY09 rev guidance to $46 mln vs the $47.6 mln two est avg, down from $50 mln previously, due to the lower than expected selling prices for day-old broilers in the second half of 2009. However, mgmt remains confident that the Company will meet net income guidance for the full year 2009 of $13 mln vs the $12.7 mln consensus, due to lower unit production costs for day-old broilers. The Company has also budgeted an additional $10 mln that will be spent through the first half of 2010 to add new breeder farms, purchase 300,000 new parent breeders and expand its hatcheries. Yuhe has also ordered 20 sets of hatchers to be installed in the second quarter of 2010, increasing the Company's total number of hatchers to 160 sets. For 2010, Yuhe targets sales volume of day-old broilers at 150 mln, a 36% increase compared to projected volume of 110 mln for 2009.
Excerpt (on Business Outlook) from earnings PR:
Management has updated its previously announced revenue guidance for the full year 2009 from $50 million to $46 million, due to the lower than expected selling prices for day-old broilers in the second half of 2009. However, management remains confident that the Company will meet net income guidance for the full year 2009 of $13 million, due to lower unit production costs for day-old broilers. The Company has also budgeted an additional $10 million that will be spent through the first half of 2010 to add new breeder farms, purchase 300,000 new parent breeders and expand its hatcheries. Yuhe has also ordered 20 sets of hatchers to be installed in the second quarter of 2010, increasing the Company's total number of hatchers to 160 sets. For 2010, Yuhe targets sales volume of day-old broilers at 150 million, a 36% increase compared to projected volume of 110 million for 2009.
"Since the Chinese economy has shown positive signs of recovery in recent months, we believe Yuhe will continue to generate strong revenue growth from day-old broilers sales," commented Mr. Gao. "While we are the second largest provider nationwide, our market share is only 5% in Shandong, which signifies that we have strong potential for growth from organic expansion and industry consolidation. In the next two years, we will continue to focus on our expansion efforts in Shandong, leveraging our mature system, including technical support and after-sales services."
Cramer likes the GDXJ ETF:
The Market Vectors Junior Gold Miners ETF [GDXJ] just launched on Wednesday, and it allows shareholders to own 38 different medium and small gold and silver miners. Cramer said the fund, with its younger stable of miners, has more room to run than the Market Vectors Gold Miners ETF [GDX], which follows the larger gold miners. And given that the GDX is up 47% year-to-date compared with the GLD’s 27%, the GDXJ could be in store for similar, if not better, returns.
My comment: ETF inclusion rules are pretty restrictive:
"Constituent stocks for the Junior Gold Miners Index must have a market capitalization of greater than $150 million on a rebalancing date to be eligible for the Junior Gold Miners Index. Stocks whose market capitalization falls below $75 million as of any rebalancing date will no longer be eligible for the Junior Gold Miners Index. Stocks must have a three-month average daily trading volume of at least $1 million to be eligible for the Junior Gold Miners Index and issuers of such stocks must have traded at least 250,000 shares each month over the last six months."
Good Article on GDXJ: Gold Miners Jr. Index at:
http://finance.yahoo.com/news/Van-Ecks-Gold-Miners-Jr-Makes-ibd-2809541438.html?x=0&.v=1
Excerpts:
Gold miners outshine the metal by a wide swath in bull markets. But when the market drops, they dull considerably more. In 2008, when the S&P 500 fell 38%, the Junior Gold Miners index plunged 61%. GDX fell 26%. XME lost 60%. Meanwhile, gold rose 5%.
The Risks
Van Eck warns the potential for big gain comes with great risk.
"Many juniors operated at a loss in 2008 and approximately a third of the companies in the fund's underlying index had negative cash flow on a trailing 12-month basis as of June 30, 2009," Van Eck said in a statement. "Juniors are particularly vulnerable to the price trend of gold as a drop in gold prices could affect their profitability as well as their ability to secure financing to develop new and existing properties."
Small-cap stocks often have higher price volatility, lower trading volume and liquidity than large caps.
"Small companies are often subject to less analyst coverage and may be in early and less predictable periods of their corporate existences," said Tom Winmill, manager of Midas Fund (NASDAQ:MIDSX - News), which specializes in precious metals.
"These companies," he said, "tend to have smaller revenue, less management depth and experience, fewer financial resources and less competitive strength than larger companies.""
When TARM gets listed to trade in Germany, will new issues be sold by the company or will they be tied to TARM.ob by currency exchange rate?
TARM volume is disappointing, indicating Chicago audience did not run out and buy based on the anecdotal conjectures presented. The best thing that could come out of the meetings appears to be a major investment by a fair lender to allow TARM and ADIT the funds needed to do all the drilling required to prove/define resources in the ground.
Regards,
'peeker
AGT.to volume not noteworthy except for the single large 1,669,500sh trade at 12:21. Looks like it was only a few days ago that another large blocks traded, that is, 1,240,000sh at around 09:55 on the 6th of November.
I don't see any reason for concern over a "seller" since there was a "buyer" on other side.
WILC, yes onetime gain:
"Willi-Food's other income for the third quarter of 2009 was NIS 5.2 million (US$ 1.4 million) compared to other income of NIS 0.07 million (US$0.02 million) for the third quarter of 2008. The increase in other income in the third quarter of 2009 was attributed to capital gain resulting from the completion of the tender offer for Gold Frost's shares in July 2009. "
CNOA: Moving strongly higher (up 18% today) on large volume.
Wade, ya see, it's up this wk afterall.
'peeker
ps> ooops, I missed half the move today, as I sold this AM after forgetting I'd left a 1.25 sell order in at GTC.
2009 Stock Mkt Performance by Country:
http://static.seekingalpha.com/uploads/2009/11/10/saupload_countryreturns.png
CPHI (only 3.50) Earned .17 most recent qtr.
CPHI talk was also very informative, particularly with regard to their pipeline and how the generics work in China. Review the charts in the presentation, nothing but up, up, and more up.
http://www.wsw.com/webcast/roth22/cphi.ob/
They are developing a generic for the statin Crestor, which is NOT patented for sale in China. They discussed the very large market opportunity for the generic Crestor sales. They are experiencing GREAT growth as well, AND their 10Q for last qtr was posted this afternoon.
Best of Luck to all us VMC wacko-hyper-enthusiasts,
'peeker
ps> YUII presentation was also helpful, if you aren't queasily upset by hearing about turning little chickies into broilers for Chinese meals.
I agree, and since ADIT ipo will fund ADIT's operational costs, TARM can use their own money for TARM operational costs, that is, TARM will not have to their own cash to pay ADIT operational costs.
If ADIT IPO nets $5million for 40% they sell to investors, the remaining 60% owned by TARM should be worth $7.5million on TARM books. Although it seems too bad TARM can't just keep 100% of ADIT, but if ADIT does increase its share value over time, then ADIT, TARM and TRGD shareholders should all benefit from the increased share value of ADIT.
BTW, despite my skeptical nature, I'm trying to be optimistic here.
'peeker
Thanks for the info about TARM owning 60% of ADIT after planned IPO in 2010. I guess this means TARM will try to say they still have $7.5million worth of ADIT stock after selling off $5million worth. Hmmm, I guess ADIT keeps the $5million for exploration costs, and TARM exploration costs are focused on the properties not owned by ADIT.
As an example of the confusion this will create, it's not clear (to me at least) whether the ADIT IPO will actually help or hurt TARM mkt cap (currently at $65million). Thus it's not clear how much the ADIT IPO will hurt TRGD mkt cap. It also seems somewhat suspicious and also more expensive to do accounting for 3 companies rather than just one.
I own TRGD, but I have never considered myself a pumper or basher of TRGD/TARM, just a soothsayer of my own sooth.
'peeker
Achtung! The Germans aren't coming?
Das ist nicht tso gut!
Sooner or later TRGD and TARM will need to prove resources (w/ drilling programs) rather than just chat about them and expect investors to buy based on the optimistic views of management. The results of the large bulk sample should help short term, but measured resources will be very important longer term.
Also I remain confused by the corporate structure of TRGD/TARM/ADIT, that is, I am skeptical that the structure is intended to benefit investors as much as the management of the company. It seems TRGD cannot ever be uplisted due to financials that are 2 yrs behind, so they will do an IPO of ADIT in 2010, but how much of ADIT's gold will be owned by TARM after that?
Yes, I know I'm easily confused, but such a creative corporate structure and financial governance issues continue to worry me with TRGD/TARM/ADIT.
Good luck to all TRGD/TARMers,
'peeker
Well I emailed the analyst asking for copy of the report, but he said I gotta open a Dundee acct. Anyone have an idea what his rating and target are?
Thanks for reminding me of HRBN yesterday. I bought 500sh at 19.40 near the close and sold this AM before the open at 21.15. Love the company, but not sure what to think of the "nonrecurring" costs.
'peeker
ps> This gives me Christmas shopping cash ;o)
OT: Is it time to move to New Zealand yet?
Live US Debt Clock:
http://www.usdebtclock.org/
Oh, and have a nice day!
'peeker