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The Malaysian govt dismissed a citizens appeal against a Lynas (LYSCF) rare earth plant, removing the main obstacle to start of production at the site.
A statement from the Science, Technology and Innovation Ministry, which considered the appeal, said there was "no strong justification nor scientific or technical basis" to set aside the temporary operating licence given to the plant in January.
The ministry told Lynas, the firm must submit plans to immobilise radioactive elements in the waste it will produce and come up with an emergency response plan on dust control.
"We already have the answers for the two new conditions," Mashal Ahmad, the plant's managing director told Reuters.
The Malaysian govt dismissed a citizens appeal against a Lynas (LYSCF) rare earth plant, removing the main obstacle to start of production at the site.
A statement from the Science, Technology and Innovation Ministry, which considered the appeal, said there was "no strong justification nor scientific or technical basis" to set aside the temporary operating licence given to the plant in January.
The ministry told Lynas, the firm must submit plans to immobilise radioactive elements in the waste it will produce and come up with an emergency response plan on dust control.
"We already have the answers for the two new conditions," Mashal Ahmad, the plant's managing director told Reuters.
AUD/USD has added insult to injury for my Lynas holding. So I have a double catalyst waiting to happen...2 months ago AUD/USD was 1.06, and it was 0.985 the last time I looked.
I agree Mikey...that's what I did last October when the markets turned on a dime after October 4...I was still quite nervous as to whether this was it and the markets would move up, or whether there could be yet another leg down. Consequently I was only playing very small positions but mostly in cash at the beginning of October.
So I missed the first leg up in the first week or two of October, but the laggards were the China RTOs that had been beaten down and left for dead. I bought in about a week after the overall markets rebound had begun, but the highest-risk stocks had not really begun to move yet.
Quick question for the experts: When you own shares of stock in a company in Cambodia, do their laws permit you to actually "own" a portion of the company, or is it like in China where shareholders technically only own the rights to profits of the company and not the company itself?
$LYSCF: Lynas will be permitted to sell & export products at the LAMP during the plant's trial run, the AELB said today
http://www.themalaysianinsider.com/malaysia/article/lynas-can-export-products-during-tol-test-phase-says-aelb/
"Lynas can export products during TOL test phase, says AELB
By Yow Hong ChiehApril 12, 2012DENGKIL, April 12 — Lynas Corp will be permitted to sell and export materials produced at its rare earth refinery in Gebeng during the plant's trial run, the Atomic Energy Licensing Board (AELB) said today.
The nuclear regulator said this would be subject to the products passing AELB and the Department of Environment's (DoE) safety checks if and when the temporary operating licence (TOL) is issued to the Australian miner.
"We have no problems, so long as we clear the products and it is safe," he told reporters at AELB headquarters here.
But AELB director-general Raja Abdul Aziz Raja Adnan stressed that it would be in Lynas' interests to obtain a full licence as soon as possible because it will not be commercially viable to run the plant on a TOL.
This was because under the TOL, Lynas will have to keep paying AELB and the as-yet unnamed third-party assessor for regular assessments.
"The third-party assessor, for two years it's about five-point-something million. They are still paying for my assessment. If they want to pay for my assessment, it will be very expensive.
"The fee was RM1.2 million just to read the books (submitted during application). So it's expensive. Temporary operating licence is not a way to operate a company," he said.
Raja Abdul Aziz also said Lynas would be given chance to improve the operational safety of its plant during the test phase, adding that AELB would not issue a full operating licence until all standards have been met.
He added there was no set time limit for these safety improvements, pointing out that Lynas will have to apply for another two-year TOL if it cannot implement the changes requested during the current TOL period.
He stressed, however, that AELB will not hesitate to suspend the TOL and close down the plant if Lynas is found to have seriously breached safety regulations.
"Depending on the severity of the failures we can... stop operations or, if it's less severe and minor in nature, we will ask them to take the appropriate action," he said.
Critics allege that Lynas Corp has failed to give enough assurances on how it will handle the low-level radioactive waste that will be produced at the plant, some 25km from Kuantan city centre.
But the Australian miner maintains that waste from the Gebeng plant will not be hazardous and can be easily recycled for commercial applications.
Parliament approved a select committee on Lynas on March 20 amid opposition furore over its terms of reference and suspicion that the nine-man panel will be used to "whitewash" the issue."
$LYSCF: Lynas will be permitted to sell & export products at the LAMP during the plant's trial run, the AELB said today
http://www.themalaysianinsider.com/malaysia/article/lynas-can-export-products-during-tol-test-phase-says-aelb/
"Lynas can export products during TOL test phase, says AELB
By Yow Hong ChiehApril 12, 2012DENGKIL, April 12 — Lynas Corp will be permitted to sell and export materials produced at its rare earth refinery in Gebeng during the plant's trial run, the Atomic Energy Licensing Board (AELB) said today.
The nuclear regulator said this would be subject to the products passing AELB and the Department of Environment's (DoE) safety checks if and when the temporary operating licence (TOL) is issued to the Australian miner.
"We have no problems, so long as we clear the products and it is safe," he told reporters at AELB headquarters here.
But AELB director-general Raja Abdul Aziz Raja Adnan stressed that it would be in Lynas' interests to obtain a full licence as soon as possible because it will not be commercially viable to run the plant on a TOL.
This was because under the TOL, Lynas will have to keep paying AELB and the as-yet unnamed third-party assessor for regular assessments.
"The third-party assessor, for two years it's about five-point-something million. They are still paying for my assessment. If they want to pay for my assessment, it will be very expensive.
"The fee was RM1.2 million just to read the books (submitted during application). So it's expensive. Temporary operating licence is not a way to operate a company," he said.
Raja Abdul Aziz also said Lynas would be given chance to improve the operational safety of its plant during the test phase, adding that AELB would not issue a full operating licence until all standards have been met.
He added there was no set time limit for these safety improvements, pointing out that Lynas will have to apply for another two-year TOL if it cannot implement the changes requested during the current TOL period.
He stressed, however, that AELB will not hesitate to suspend the TOL and close down the plant if Lynas is found to have seriously breached safety regulations.
"Depending on the severity of the failures we can... stop operations or, if it's less severe and minor in nature, we will ask them to take the appropriate action," he said.
Critics allege that Lynas Corp has failed to give enough assurances on how it will handle the low-level radioactive waste that will be produced at the plant, some 25km from Kuantan city centre.
But the Australian miner maintains that waste from the Gebeng plant will not be hazardous and can be easily recycled for commercial applications.
Parliament approved a select committee on Lynas on March 20 amid opposition furore over its terms of reference and suspicion that the nine-man panel will be used to "whitewash" the issue."
Excellent pic tbird! Gotta be one of the top posts of the year for both good timing and great gains.
AEZS - 66% drop on colon cancer trial lack of improvement in survival rate. PPS hasn't been below $1 since April 9 2010.
What else is in their pipeline, anyone know? Is it good for a bounce on overreaction?
GSFVF was at a high of $8.80 a few weeks ago, only to fall to $6.31 over the course of a few days because the company's earnings did not look good. I posted the oversold price in PalTalk. After earnings were released, some thought GSFVF's unique method of fracking may not turn out to be as effective or profitable in all situations as originally anticipated. Of course, the market is going to give them another chance now that they have more opportunities forming.
$GTXI in top 4 for open market insider stock purchases for week of March 5. Director bought $2.9M shares.
http://www.thestreet.com/story/11445287/1/insiders-trading-amag-clwr-gtxi.html?puc=minyanvill&cm_ven=MINYANVILL
$GTXI, Citi's top biotech pick for 2012, $19 target
$ACUR: New SeekingAlpha BLOG article. The bottom is in for this low-floater biotech, with solid earnings growth expected for 2012.
http://seekingalpha.com/article/425731-pfizer-s-150m-bet-on-acura-pharmaceuticals-is-good-news-for-investors
$ACUR: Sales commenced in February for abuse-resistant OXECTA oxycodone. Tiered royalties from Pfizer up to 25%. Upcoming in SeekingAlpha.
Major geomagnetic storm headed to earth:
http://news.discovery.com/space/solar-flare-120307.html
http://en.wikipedia.org/wiki/Geomagnetic_storm
Was this what Frankiy was warning about? How did he know? Was there an insider leak from his solar industry connections?
$ZGNX: Look for huge YoY sales growth in pending earnings report. Rated strong buy by 5 out of 5 analysts.
Credit goes to Pmony for that QCOR idea...I just did a little DD and spread the word. Due to the 17 percent short interest, I was afraid shorts would revisit the stock after the earnings pop. Therefore, I sold half after hours on the earnings pop and the remainder the next day...I ended up with +6.4% and +12%, although QCOR kept moving and by today it got to $39.80, which would be about +18% from the $33 low range near the end of last week.
$QCOR: Short covering starting before earnings report AH. As of 11am, starting to see some block buys (covering) of $1.3M, $600K, $500K, and $360K...To get interesting soon.
$QCOR: Short covering starting before earnings report AH. As of 11am, starting to see some block buys (covering) of $1.3M, $600K, $500K, and $360K...To get interesting soon.
$QCOR showing upswing before blowout earnings tomorrow:
A couple of reminders in case you want to be IN before the news:
QCOR’s earnings report is Wednesday, Feb. 22. TTM EPS will report a 40.5% increase, based on a 2/16/12 8K filing showing net income (before taxes) for Q ending 12/31/11 is $41M to $43M. New TTM EPS will be roughly 0.44 (= 42/33.7 x 0.35).
This will make a good play, especially after a StreetSweeper report back in January allowed shorts to drop QCOR’s PPS by 19%. However, the rather weak StreetSweeper report was effectively refuted in a rebuttal issued by QCOR.
Quarterly EPS data and estimated 12/31/11 earnings:
Period___________________12/10____3/11____6/11____9/11_____12/11
Diluted EPS________________0.10____0.17____0.21_____0.35_____0.44--(projected)
Net.Inc.B4_tax______________10.9___16.6____20.4_____33.7______42--(projected)
Net.Inc.after.Tx_____________6.42___11.2_____13.87____22.85____28.48--(projected)
ratio income B4/after tax____________________1.4704___1.4747___1.4747--(projected)
Sharecount________________65.39___65.37___65.46____66.02____66.02--(projected)
N.I./(EPS x Sh.Ct)___________0.9813__1.0099__1.0093___0.9889___0.9889--(projected)
92.9% institutional ownership (59M out of 64M sharecount):
source: http://www.nasdaq.com/symbol/qcor/institutional-holdings
54% upside (12 month analyst price target consensus $51.50)
source: http://www.nasdaq.com/symbol/qcor/analyst-research
Rated strong buy from 7 out of 7 analysts:
source: http://www.nasdaq.com/symbol/qcor/recommendations
Latest Short Interest: 10.6M (17% of float)
source: http://www.nasdaq.com/symbol/qcor/short-interest
$214M cash, and debt free
Source: 8K filed 2/16/12
15 million shares buybacks completed, 4.3M additional shares repurchase authorized
Source: 8K filed 2/16/12
Link to QCOR’s professional and effective rebuttal of a weak StreetSweeper short-selling report:
http://www.streetinsider.com/Corporate+News/Questcor+%28QCOR%29+Issues+Response+to+StreetSweeper+ReportAllegations/7084149.html
Soon after the rebuttal was issued, StreetSweeper's short position decreased substantially; they covered when they saw the preliminary news of QCOR's upcoming earningst. However, not all shorts have covered, based on NASDAQ latest daily short interest.
I took advantage of changing from a traditional 401k fund-based account to a 401k self-directed brokerage account. I will caveat that by noting that I'm more conservative with that account than with my non-retirement trading account. I do hold some duplicate tickers in both accounts, but the 401k involves more diversified and smaller positions.
$QCOR effective rebuttal to StreetSweeper report
Link to QCOR’s professional and effective rebuttal of a weak StreetSweeper short-selling report:
http://www.streetinsider.com/Corporate+News/Questcor+%28QCOR%29+Issues+Response+to+StreetSweeper+ReportAllegations/7084149.html
Soon after this rebuttal was issued, StreetSweeper's short position decreased substantially; evidently they covered when they saw the preliminary news of QCOR's upcoming blowout earnings report. However, not all shorts have covered, based on NASDAQ latest daily short interest.
QCOR fact: Blowout earnings Wed, chart play.
Upon earnings release on Wednesday, TTM EPS will increase 40.5 percent from 0.83 to 1.17. This is a foregone conclusion because the company already released information that net income (before taxes) will be in the range of $41M to $43M. Based on that information and the projected income after taxes, the quarter ending 12/31/11 should have an EPS of 0.44 (=42/33.7x0.35).
This is a 40.5 TTM EPS change, big chart play here, especially after the weak StreetSweeper report back in January that dropped PPS considerably. The StreetSweeper report was rather weak and was refuted by the company. QCOR has good marketing and an approved drug, lots of cash, and should do well in 2012.
Backup info:
Period___________________12/10____3/11____6/11_____9/11_____12/11
Diluted EPS________________0.10____0.17____0.21_____0.35_____0.44--(projected)
Net.Inc.B4_tax____________10.9____16.6____20.4_____33.7______42--(projected)
Net.Inc.after.Tx_____________6.42___11.2____13.87____22.85____28.48--(projected)
ratio income B4/after tax___________1.4704__1.4747____1.4747--(projected)
Sharecount________________65.39___65.37___65.46____66.02____66.02--(PROJECTED)
N.I./(EPSxshCt)___________0.9813__1.0099__1.0093___0.9889___0.9889--(projected)
Sorry, my mistake...I was thinking Wuyi Pharma, a Hong Kong listing, not Wuxi, totally different companies.
Not touching Wuxi with a 10-foot pole. It's owned by the Linn brothers, who also owned CCME. CCME and WX shared the same office address in Hong Kong. This is analogous to the case where Michael Toups was on the board of LTUS, which just ripped off investors for $60 million in a fake land deal, and James Crane was an ex-CFO of Subaye, which was delisted, when one is trying to decide whether LPH has an honest management team.
PTEK another cheap gaming supplies company.
OT: Selecting oil stocks in a strong market
$OGXPY,$NEP,$PMGLF,$PBKEF,$MDR,$AXAS,$PTEN
Many oil stocks stand to see increased profits in 2012 and are still well below their 52-week highs. With high oil prices continuing to support oil stock sentiment for the foreseeable future based on geopolitical issues, I have been busy loading up on oil and energy stocks that are undervalued and well positioned.
Here are some of my oil picks; comments are invited from others as to what their picks are at this time. My overall criteria are either (1) a HUGE growth catalyst soon to happen, or else a combination of all of the following: (2a) Recommended as a buy by several analysts, (2b) At least 50% below 52-week highs, (2c) No negative recent issues such as excessively high debt or loss of a really large contract.
OGXPY: 2 billion BBL offshore Brazil discovery, plus first offshore field entering production 15,000 to 50,000 BBL/day. Biggest play of 2012 outside of China.
NEP: Second Jilin oilfield should get some production increases sooner than the Dirimu oilfield, since Dirimu required a lot of geotechnical testing expected to last most of 2012. However, with 2 catalysts, this increases NEP's reserves considerably.
PMGLF: This one is a Columbian play that was originally owned and spun-off from the canadian company, Petrobank. They own some incredible estimated reserves and there is a history of great cooperation and no government interference in private oil production in Columbia. They pay a royalty for the shale technology used that was developed by Petrobank.
PBKEF: This is the most successful and one of the most well-known and popular Canadian oil stock. Pays a great dividend and the 52-week high is still 50% higher than current prices.
MDR: With oil prices staying high, offshore oil equipment/services market will be strong. MDR is well-positioned with existing work and is trading at one-half of its 52-week high. Should recover nicely in 2012.
AXAS: Picked this one because of the chart, again, well below 52-week highs.
PTEN: This one is a sleeper so far, but should pop soon. Utilizes refurbished rigs throughout the US and North America. Had to retire some of their older rigs without sufficient horsepower to handle fracking, but enough newer rigs to handle demand such that the stock is way oversold.
Last but not least, LPH: If and when they manage to complete their $106M acquisition of their third facility, the stock's forward EPS will instantly jump 60%. However, investors have been awaiting this event for about 10 months now, and management's original June 30th 2011 target has been delayed several times. This has greatly frustrated longs in this stock such that many have sold out on the interim pops. If/when this deal happens, it will prove legitimacy of this undervalued RTO because no dilutive financing is being utilized to close the deal. Meanwhile, earnings are due out for 2Q FY2012 in early February, which should give some insight into to what extent the revenue stream could be impacting or not impacting closing of the acquisition.
Have some more coffee, Joe.
Bradford said, "Toups is on board with whomever pays him. LTUS is fraud. LPH I don't know."
You had said, "I think the alleged acquisition will never occur."
Mike Giessen said, "He did it for China Bilingual." Mike was referring to China Bilingual, the other company Toups is CFO for, and he orchestrated a huge acquisition in September 2011.
So convince me why China Bilingual's acquisition arranged by Mr. Toups was just a fake dangling grape/mirage. Maybe Mr. Toups can swing a deal after all?
Even American stocks can turn out to quiet different than one anticipates, it happens on both continents.
Can't read a filing, Joe? Come on.
CFO Toups help arrange for China Bilingual to do a major acquisition of Shanxi Rising school last September.
The acquisition actually occurred, DUH.
http://www.prnewswire.com/news-releases/china-bilingual-announces-acquisition-of-shanxi-rising-school-129659048.html
"The Company has paid RMB 340 million (approximately US$53.2 million) to close the transaction with a total purchase price of RMB 690 million (approximately US$108.1 million). The Company used approximately RMB 240 million (approximately US$37.6 million) in cash on hand from working capital and received a RMB 150 million line of credit from a regional Chinese bank for the balance of the initial payment of approximately RMB 100 million (approximately US$15.6 million). The Company has agreed to pay the balance of the purchase price, RMB 350 million (approximately US$54.9 million), over three years.
"We are very pleased to have closed on this transaction to begin the 2011–2012 academic school year," stated Dr. Ren Zhiqing, Chairman and CEO of China Bilingual. "The addition of Shanxi Rising to our portfolio of educational institutions strengthens our position in the fast-growing private education sector in China. With our long history of operational success and track record of academic excellence, we believe we will be able to drive substantial growth in the years ahead. We began with just nine students enrolled in our original schools in 1998, and we now have the capacity for 20,000 students. We remain dedicated to becoming an education leader in China and increasing long-term value for our shareholders."
Dr. Ren continued, "The terms of our financing are favorable to our overall growth strategy and allow us to focus on building enrollment through this next school year. We have worked hard over the past thirteen years to establish our academic reputation and can build our future upon this platform."
Michael Toups, CFO of China Bilingual, stated, "We purchased this school because of the location and infrastructure already in place. It is part of our expansion strategy to acquire underperforming schools and overlay our teaching methodologies, thereby leveraging our academic reputation to increase enrollment."
Oblamer magic hour!
LOL appearances count for something, especially when those alleging fraud hide behind shifting aliases on message boards, they do not want their true identity revealed. While you can throw mud with the best of them, Joe, I'll give you credit for keeping the same alias.
LPH breakout is likely to run close to the $2.255 warrant strike price as long as macro remains favorable to oil stocks (Iran oil sanctions by Europe and the US remain in the plan).
However, when the news of the Huajie acquisition is released, this will change LPH from a pure chart play to an EPS growth story. The EPS growth story calls for the 100,000 metric ton new facility to be ramped up within 6 to 9 months after closing, and within the first 12 months following closing EPS will increase by 60 percent.
The second aspect of LPH's PPS behavior will be trailing the acquisition by a few days to weeks. That is the gain in credibility and legitimacy that LPH will earn by completing a $106 million acquisition solely based on their internal profits, without diluting shareholders one bit. LPH has been constrained to a P/E in the mid-1s to mid-2s because of generic China stock credibility or risk factors applicable to the entire sector. However, the acquisition will have a legitimacy story that will carry new investors into the stock for some time to come.
Therefore, barring any unforeseen events like one of their facilities suddenly exploding in a fireball or the collapse of the entire China economy as some of the far-fetched Jim Chanos types were predicting in their bearish spins off and on for the last 2 years, LPH should gradually rise to a P/E of double the current P/E. Combine that gain in PPS with the 60 percent gain in forward EPS due to the acquisition, and over the next 6 to 12 months LPH may rise to a PPS in the mid-5s.
LPH breakout is likely to run close to the $2.255 warrant strike price as long as macro remains favorable to oil stocks (Iran oil sanctions by Europe and the US remain in the plan).
However, when the news of the Huajie acquisition is released, this will change LPH from a pure chart play to an EPS growth story. The EPS growth story calls for the 100,000 metric ton new facility to be ramped up within 6 to 9 months after closing, and within the first 12 months following closing EPS will increase by 60 percent.
The second aspect of LPH's PPS behavior will be trailing the acquisition by a few days to weeks. That is the gain in credibility and legitimacy that LPH will earn by completing a $106 million acquisition solely based on their internal profits, without diluting shareholders one bit. LPH has been constrained to a P/E in the mid-1s to mid-2s because of generic China stock credibility or risk factors applicable to the entire sector. However, the acquisition will have a legitimacy story that will carry new investors into the stock for some time to come.
Therefore, barring any unforeseen events like one of their facilities suddenly exploding in a fireball or the collapse of the entire China economy as some of the far-fetched Jim Chanos types were predicting in their bearish spins off and on for the last 2 years, LPH should gradually rise to a P/E of double the current P/E. Combine that gain in PPS with the 60 percent gain in forward EPS due to the acquisition, and over the next 6 to 12 months LPH may rise to a PPS in the mid-5s.
LPH breakout is likely to run close to the $2.255 warrant strike price as long as macro remains favorable to oil stocks (Iran oil sanctions by Europe and the US remain in the plan).
However, when the news of the Huajie acquisition is released, this will change LPH from a pure chart play to an EPS growth story. The EPS growth story calls for the 100,000 metric ton new facility to be ramped up within 6 to 9 months after closing, and within the first 12 months following closing EPS will increase by 60 percent.
The second aspect of LPH's PPS behavior will be trailing the acquisition by a few days to weeks. That is the gain in credibility and legitimacy that LPH will earn by completing a $106 million acquisition solely based on their internal profits, without diluting shareholders one bit. LPH has been constrained to a P/E in the mid-1s to mid-2s because of generic China stock credibility or risk factors applicable to the entire sector. However, the acquisition will have a legitimacy story that will carry new investors into the stock for some time to come.
Therefore, barring any unforeseen events like one of their facilities suddenly exploding in a fireball or the collapse of the entire China economy as some of the far-fetched Jim Chanos types were predicting in their bearish spins off and on for the last 2 years, LPH should gradually rise to a P/E of double the current P/E. Combine that gain in PPS with the 60 percent gain in forward EPS due to the acquisition, and over the next 6 to 12 months LPH may rise to a PPS in the mid-5s.
$LPH breakout alert. Pushed through $1.50 resistance like a hot knife through butter. Strong volume today - several 30,000 to 40,000 share blocks.
Buffet Sings Plays Ukulele for Chinese New Year
"A short video clip of Warren Buffett playing the ukulele and singing "I've Been Working on the Railroad" is part of Chinese television's New Year celebration.
It appears on the 2012 Spring Gala website of state broadcaster CCTV. The Gala is a massive television program marking the start of the lunar new year that's watched by millions of Chinese."
http://www.cnbc.com/id/46093704
Sandusky scandal was like Muddy Waters to Penn State sentiment, so buy Penn State premarket Monday morning for the Joe Paterno dead cat bounce. Expecting Joe to be treated like a hero and martyr by alumni and sports media.