says
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Shotgun!
Yep! I'm riding free shares of ARNA thanks to her
That's a big lake :O
Not sure... It seems up in the air for now...
Gains Slip for ICL, Israel Corp. After Conflicting Government Statements on Potash Corp. Deal
Published November 04, 2012Dow Jones Newswires
JERUSALEM – Shares of Israel Chemicals Ltd. (ICL.TV, ISCHY) and its parent, Israel Corp. Ltd. (ILCO.TV, IRLCY), opened lower Sunday after conflicting statements from the Israeli government on whether it would allow Canada's Potash Corp. of Saskatchewan Inc. (POT, POT.T), to increase its stake in ICL or merge with the Israeli potash maker.
When news broke last week that the government was talking to Potash about such a deal, shares of ICL and Israel Corp. gained about 5%. But over the weekend, the government first said it wouldn't approve a deal because it wouldn't be to Israel's advantage to have a foreign company controlling mining of potash from the Dead Sea; then late Saturday changed its tone when a finance ministry spokesman said it would be open to considering such a request.
At 0816 GMT Sunday, shares of ICL were trading down 1.24 shekels ($0.32), or 2.56%, at ILS48.50. Israel Corp. was trading down ILS80.00, or 3%, at ILS2,583.00, in a higher Tel Aviv market.
"(The government) is not closing the door completely," said Steven Shein, trader at Psagot Investment House in Tel Aviv. "So the shares haven't given all the gain back yet." Mr. Shein said that investors would favor such a deal because a tieup would likely have Potash paying a premium for ICL shares, as well as create synergy and industry advantages for both companies.
The government holds a golden share in ICL that allows it to overrule other shareholders in some circumstances. Analysts have said the government would face pressure from environmental groups as well as political pressure about allowing a foreign company more control over Dead Sea resources.
Potash currently holds a roughly 15% stake in ICL. If the two merged, it would create a giant in the potash Industry, which is currently plagued by low prices in Asia and other major export markets.
Potash and Israel Corp. representatives declined comment.
Write to Sara Toth Stub at realtimedesklondon@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Copyright © 2012 Dow Jones Newswires
http://www.foxbusiness.com/news/2012/11/04/gains-slip-for-icl-israel-corp-after-conflicting-government-statements-on/
Nice... :)
Exactly mike...
Oh yeah, the time changed today. Weeee! I get to see the market open now haha
And munchies
Cameco dealing with soft uranium market
Submitted on November 2, 2012 - 6:57am
By Andrew de Souza
paNOW Staff
Saskatchewan-based uranium mining giant Cameco is preparing for a tightening global uranium market by reprioritizing its capital projects.
On Thursday, company executives held their third-quarter conference call with investors and the media to talk about the year so far.
In Q3, the company managed to turn around $82 million in net earnings. That was higher than the $39 million earned for last year, but over all the company recorded lower revenues of about $408 million, compared to $527 million in 2011.
President and CEO Tim Gitzel said global markets and a slow down of nuclear power plant projects meant the company was reevaluating its forecasts and switching up its capital expenditures.
Gitzel said that the company would refocus efforts on developing brownfield holdings, which are areas near existing mines over greenfield, or new location development.
“Our uranium sector was the primary driver behind these results because of lower uranium sales volumes and realized prices,” he said.
“This is not a reflection on the strength of our underlying business but rather a demonstration of the variability that’s common for us from quarter to quarter.”
Cameco has been operating under a program called Double U, which anticipates a doubling of uranium output from the company. Gitzel said that was still the case but that it wasn’t all the company was focused on.
“We remain very optimistic about the future of the nuclear industry and the future demand for the industry,” he said. “That being said we can’t ignore the market signals we’re seeing and must adjust accordingly.”
Gitzel said the company would still keep projects that were deprioritized on the radar and work towards them when uranium prices once again made it the right choice economically.
Highway to help link assets
Gitzel also talked about Hwy. 914 which the Wall government recently announce would be investing half the cost to complete.
Gitzel said it would link up all the companies assets and clear up logistical problems.
“We’ve been with province and several industry partners for some time now and we’re happy to see it coming to fruition now,” he said. “This connector road is critical to expanding access to infrastructure and enhancing transportation efficiency in the north.”
http://www.panow.com/node/263246
Bahaha!
Potash seeks Netanyahu help in Israel Chemical takeover
STEVEN SCHEER
JERUSALEM — Reuters
Published Wednesday, Oct. 31 2012, 5:54 AM EDT
Last updated Wednesday, Oct. 31 2012, 1:56 PM EDT
Potash Corp., the world’s largest fertilizer maker, is ramping up efforts to acquire smaller rival Israel Chemicals (ICL) and has appealed directly to Israel’s prime minister to back a deal.
The Canadian company controls 13.84 per cent of ICL, the world’s sixth-largest fertilizer maker, and has long sought to raise its stake.
Previous attempts by Potash to take over ICL since its initial investment in 1998 have been rebuffed by regulators.
Any acquisition would be complicated because resources where ICL has potash and phosphate mining rights are state-owned.
As a foreign buyer, Potash would need approvals from the Government Companies Authority, the prime minister and the Antitrust Authority.
“This deal cannot be ruled out, however it is unlikely to happen in the near term,” said Virginie Boucher-Ferte, an analyst at Deutsche Bank, in a note to clients.
Conglomerate Israel Corp owns 52.3 per cent of ICL, while some 34 per cent of ICL, which has a market value of about $15-billion, is traded on the Tel Aviv Stock Exchange. Potash’s market value is around $35-billion.
Israel Corp. said Potash chief executive officer Bill Doyle has met Israeli Prime Minister Benjamin Netanyahu to push for the deal while financial daily Calcalist said Mr. Netanyahu instructed his staff and the finance ministry to examine it.
“The company confirms it is aware that Canada’s Potash is in talks with various government agencies that included a meeting with the prime minister regarding examining the possibility of merging ICL with Potash,” Israel Corp. said in a statement on Wednesday.
Israel Corp. officials declined to comment beyond the statement. The finance ministry said it had not received any formal request.
A year ago, Potash sought to raise its stake in ICL – which also produces a third of the world’s bromine – to 25 per cent. The government gave initial approval but Potash pulled the request when regulators took too long to respond.
Shares of ICL were up 4.7 per cent, while Israel Corp.’s shares were 5.5 per cent higher in late trade.
“We see value in ICL shares even in the absence of interest from Potash,” said Joseph Wolf, an analyst at Barclays Capital who rates ICL as “overweight”. “The potential merger highlights the attractiveness of ICL’s low cost position.”
According to Calcalist, Potash seeks 100 per cent of ICL.
Mr. Doyle said last week Potash’s equity investments are the second best potash assets after the company’s own.
“We own them with the long-term goal of having a majority position in each one. It doesn’t happen overnight, but we think they’re a very, very valuable part of our company, and it’s more than just a monetary thing,” he told analysts.
Potash last week posted a 22-per-cent drop in third-quarter profit.
Ms. Boucher-Ferte said it was not clear whether Potash would offer ICL shareholders a premium for their stock.
She said Potash would have to give Israel the right to repatriate licence rights if a hostile country or entity took control of Potash.
Analysts believe the deal would benefit Israel Corp, which would swap control of ICL for a 20 per cent stake in Potash and turn the company into a more recognized international player.
Mr. Wolf said that for Potash, buying ICL would complement its 30 per cent of APC, a Jordanian company that mines the Dead Sea.
With Israel headed for elections in January, discussions will likely be on hold for the time being.
In 2010, Canada’s government blocked a bid for Potash by BHP Billiton on the basis it would not benefit the country.
“We believe it is likely that the Israeli government will come to the same conclusion regarding a takeover of ICL,” said Sophie Jourdier, an analyst at Liberum Capital, in a note.
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/potash-corp-in-talks-to-merge-with-israel-chemicals/article4789323/
Bahaha!
Government requests more information on proposed diamond mine
Submitted on October 31, 2012 - 6:07am
paNOW Staff
Shore Gold has heard back on its Revised Environmental Impact Statement (EIS) for a proposed diamond mine in Saskatchewan.
The over 10,000 page document on the Star-Orion project located east of Prince Albert was submitted back in August. It generated 56 federal comments and information requests and 73 from the provincial government, said Shore Gold in a release.
The 129 comments is a far cry from the over 800 received from the original EIS, submitted in December 2010.
"The limited number of comments and information requests that may require additional work is encouraging,” said George Reed, vice president of exploration in a release. “Shore is confident that we are steadily progressing towards a fully compliant and permitted project. “
Before the provincial government would be in a position to issue permits, Shore must first respond to each inquiry. After which the project goes through a legislated 30 day public review.
Reed said they are presently focused on satisfying all the provincial and federal requirements for project approval.
“Simultaneous to the ongoing completion of project approval and permitting, Shore is in pursuit of development capital on a number of fronts,” he said.
The estimated cost of construction of the open pit diamond mine is pegged at $1.9 billion.
news@panow.com
http://www.panow.com/node/262371
$1.02 Mikey!
Ut oh, you sang that to New...
He'll make you feel the love for sure...
:)
Yep, bought some POT a little while back.
I live in Saskatchewan, guess you could say I'm buying local haha
Thanks for posting J!
Nope! haha I'm kinda landlocked lol
Bahaha!
Us too... Except I took the hubby out for beer haha. We got 9 splake and 2 rainbows that day, didn't bring any of them home.
Speckled trout... we don't have those, unless we call them something else up here
Threw 'em back...
Now I understand...
I use Chrome...
No idea, guess they're still working on it... :)
Hi!
The last few days my streamer has been saying that all the stocks are "Closed", but there are still many minutes til the market closes...
Thanks!
Thanks for sharing Lites.
Oh yeah :)
RKT up 4.22
What's up with that? lol
Gone fishin'
Have a good weekend all
Thanks for posting! :)
I think he's already there waiting for you haha
Awesome!!!!!!
tbirdlessdan?
We were talking about something??
Thought all that 60s shit was coming back.
Much better
You better pick up the slack New!