Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Prosperity gold-copper project a challenge for feds
Opinion is split over $815-million project in Chilcotin
By Scott Simpson, Vancouver Sun September 13, 2010
No matter which side you’re speaking with, a forthcoming federal decision on a proposed new copper-gold mine on the Chilcotin Plateau looms as a major policy statement by the Harper government.
The Canadian Environmental Assessment Agency panel reviewing the project published its report July 2 and it’s expected that today, Prime Minister Stephen Harper’s Conservative government cabinet will commence its review of that document along with other reports, including one on aboriginal consultations regarding the CEAA panel’s findings.
The panel report did not veto the project, but did say that the elimination of a lake, the impact of a mine on local grizzly bear populations, and loss of food harvesting opportunities for first nations represented “significant adverse environmental effects.”
The biggest point of controversy is a proposal by Taseko Mines to drain Fish Lake, a shallow, 111-hectare lake that supports a population of native rainbow trout, using it as a tailings dump for the mine operation, and creating nearby a water impoundment, using stocked hatchery fish, to replace it.
Local aboriginals are adamantly opposed.
Taseko Mining, proponent of the estimated $815 million Prosperity project 120 kilometres southwest of Williams Lake, depicts the mine primarily as an economic boost for the Cariboo-Chilcotin region.
Taseko vice-president Brian Battison said in an interview Monday that the international mining investment community is watching closely what message the Tories will send when they announce a decision some time in the next three to five weeks about whether or not the project can proceed.
“With a ‘No’ decision comes the loss of all this opportunity for everybody, including first nations,” Battison said, noting that B.C. stands to collect more than $900 million in resource revenue over the 22-year life of the mine, at current copper and gold prices.
“The eyes of the mining investment world are focused on cabinet. If cabinet decides they’re not going to approve it, you have effectively said to the world that the first nations do have veto over land use. What implications will that have for oil and gas, transmission pipelines, forestry, recreation, tourism, mining?”
But Grand Chief Stewart Phillip, president of the Union of B.C. Indian Chiefs, warns that the Tsilhqot’in National Government — a regional umbrella group of first nations — won’t relent in their opposition to the project, and that they have unequivocal support from provincial and national aboriginal groups, including the Assembly of First Nations.
Supporting the project, Phillip said, would cast doubt on the federal government’s willingness to comply with the recommendations of its own agencies as well as meeting obligations to aboriginals as enshrined in the Canadian Charter of Rights and Freedoms.
“The Tsilhqot’in are known for saying what they mean and meaning what they say. We are committed to standing at their side. They will undoubtedly seek immediate injunctive relief and they will pursue political solutions and any other assertions on the ground. We will be there,” Phillip said.
Xeni Gwet’in First Nation Chief Marilyn Baptiste said her people continue to pursue a court ruling that it has jurisdiction over traditional territory, including the area where the mine is proposed. The case goes before the B.C. Court of Appeal in November.
Supporting the project, she said, would violate the Xeni Gwet’in effort to establish title and jurisdiction over resource activities.
“We have never ceded our rights or title to those lands. We are looking for the federal government to stand by their independent panel’s findings, where there would be adverse, irreparable impact to the fish and fish habitat ... as well as the wild grizzly that survive in that territory.”
Kerry Cook, Mayor of Williams Lake, noted that there is widespread support for the mine among communities in the Cariboo-Chilcotin region — which has suffered through some “tough economic times” with the decline of the forest industry since 2008.
Forestry, the mainstay of the region’s economy, has not recovered and communities regard mining as a sound way to augment it, Cook said.
ssimpson@vancouversun.com
http://www.vancouversun.com/news/Prosperity+gold+copper+project+challenge+feds/3519650/story.html#ixzz0zVw82vTs
Final decision coming today? Anyone hearing anything?
It's going to get interesting with the locals but I can't say I blame them.
This article says we should have a decision by next Friday. Is this the reason for the recent pop? Thoughts?
http://www.ctv.ca/CTVNews/Canada/20100902/copper-mine-100903/
The federal cabinet is expected to decide by next Friday whether it's worth sacrificing the health of Fish Lake in northern B.C. and other aspects of the local environment for the jobs that the $800-million Prosperity mine project promises to bring.
Wow, that's a good read. Thanks.
We've got a little pop today, let's hope it keeps going.
http://www.fool.com/investing/general/2010/08/25/technically-taseko-mines-is-a-buy.aspx
Technically, you should buy Taseko Mines (NYSE: TGB) right now.
We examined the company using moving average convergence-divergence (MACD), which is one of the most popular and long-used technical analysis indicators. Technical analysis is the field of buying and selling stocks not based on the underlying merits of a company, but rather on the patterns and formulas around its price movements.
Signal line crossover is one of the more common ways to interpret MACD. It uses a series of moving averages (in this case, nine, 12, and 26 days) to look for bullish and bearish crossovers that indicate a stock has momentum in one direction or another. Below you can find a current chart of Taseko Mines' MACD profile:
Confused? Well, that's preposterous! How could you ever be confused by something as simple as a moving average convergence-divergence chart! OK, we jest -- but in all seriousness, this is actually one of the simpler methods for technical analysis.
Still, if you'd strictly followed the rules, seeking out upward and downward momentum, you would have seen the stock move between buy and sell categories a fantastic 27 times in one year.
A better way to size up companies
Here at Fool.com, we're more interested in other measures of company value. When we look at Taseko Mines and its peers, here are the areas that interest us:
Company
Taseko Mines
Teck Resources Limited (NYSE: TCK)
Southern Copper (NYSE: SCCO)
Annual Revenue Growth
41.66
23.70
40.29
Revenue (TTM, millions)
$215
$7,831
$4,680
Operating Margin (TTM)
16.75%
30.61%
46.78%
PEG
0.00
0.00
0.35
Source: Capital IQ, a division of Standard and Poor's; TTM = trailing 12 months.
We prefer to look at the fundamental drivers of value. Investors should closely watch statistical fields like return on equity as well as qualitative values like competitive advantage and managerial effectiveness. These areas led investors like Warren Buffett and Seth Klarman to decades of outperformance. Buying and holding great companies is the best solution for individual investors to build lasting wealth and achieve their financial goals.
•So when you look at Taseko Mines, don't evaluate it for crossing a momentum line. Buy or sell it because: Taseko Mines shares recently fell a gut-wrenching 30% after a federal review panel found "significant adverse effects" to the surrounding environment of a major planned mine.
•However, colleague Chris Barker believes the sell-off to be overdone, and that the company will still receive government approval for Prosperity. He notes that most media reports have overlooked positives that were also present in the report.
•If Taseko does finalize its Prosperity plan, the opportunity is massive. The mine should have a 20-year life and provide high internal rates of return. After an arduous 17-year permitting process, the company should get outsized gains for years if the mine comes into full operation.
Want to buy Taseko Mines based on technical merits today? Technically, odds are that you should flip and sell Taseko Mines sometime very soon. If that sounds like madness to you, well, we here at Fool.com agree. In every market decline, technical analysis gets its share of proponents. The cries that "buy-and-hold is dead!" get louder, and individuals race toward schemes that promise greater wealth in a shorter amount of time.
I don't deny that technical analysis could make investors money. In any random short-term transaction, you're essentially playing a 50/50 game of chance. However, at the same time, most technical analysis schemes are a relatively simple science, eliminating the vast complexities of evaluating true company value. However attractive, this theory is ultimately the wrong path for individual investors. Technical analysis relies on long-held beliefs about exploiting momentum and consistent patterns throughout the market.
However, with as much as 75% of market trading now done by Ph.D.-level programmers at massive high-frequency funds, even if opportunities existed, what chance would an individual have to sniff these deals out? With so much volume now driven by these funds, how can you be certain the same rules of patterns still even exist?
I could also point to Massey University's study across 49 countries, which showed that more than 5,000 trading rules add no value. However, the real reason to forget about technical investing is what we mentioned earlier: Taseko Mines crossed the crossover 27 times in the past year! While traders might not buy and sell with each crossing, cases of high momentum are normally short-lived. The amount of trading in most technical analysis schemes racks up commission fees and short-term capital gains taxes, eating away at profits. More importantly, it takes away from the idea of holding a portfolio of great companies that can accrue wealth over a long time.
That's why, at Fool.com, we recommend that individual investors establish a portfolio of well-managed companies with strong advantages over their competitors. In the end, we find that to be the best contributor to long-term wealth. More importantly, it'll spare you from sitting bleary-eyed in front of a computer with a Big Gulp full of coffee, frantically buying in and out of companies. But hey, if your idea of protecting your future is charting the ups and downs of moving average convergence-divergence charts, then Taseko Mines looks like a buy right now. Just don't expect to hold it for very long
FJ my friend, long time no talk! SSPE(POS) seems so long ago.
I also added to my position here yesterday in anticipation of some good news.
Glad you're here to bring so momo, mojo and all those followers you have to give this stock some much needed publicity to IHUB.
Good luck!
For Taseko, All the World's a Stage
By Christopher Barker | More Articles
August 16, 2010 | Comments (1)
Like the butterflies that flutter through performers' guts before they go out on stage, one small-cap copper miner is brimming with anticipation for the performance of a lifetime.
The audience clamors from beyond a closed curtain, chanting: "We want Prosperity!" But Taseko Mines (AMEX: TGB) aims to quiet the crowd with a 38% increase in copper production from the company's flagship (now 75%-owned) Gibraltar mine. Net earnings nearly quadrupled to CAD$45.4 million for the second quarter, on the strength of an $8.9 million non-cash gain on derivatives and a CAD$15.7 million net tax recovery.
Because of a steep surge in both production costs and total cash costs at Gibraltar, operating profit grew only 4.2% to CAD$17.4 million, despite the higher production volume and a 50% increase in realized copper prices. Production costs rose 71% to USD$1.64 per pound for the quarter.
The jump reflected an array of factors, including a higher stripping ratio (working through more waste rock to access ore), a stronger Canadian dollar, and rising fuel costs. As a reference point, larger miner Southern Copper (NYSE: SCCO) continues to dazzle copper investors with a second-quarter production cost of only $0.064 per pound after by-product credits.
Thanks to some very attractive copper hedges that I reported to you earlier in the year, Taseko will remain comfortably profitable, even with this near-term surge in costs. Meanwhile, a broader perspective reveals that Taseko is placing the finishing touches upon some meaningful upgrades at Gibraltar. A new in-pit crusher and conveyor system, a new Bucyrus (Nasdaq: BUCY) shovel soon to enter operation, four 320-ton haul trucks, and a SAG mill direct feed system (targeted for completion in the fourth quarter) are just some of the latest developments in a multiyear campaign to enhance operations at Gibraltar. Collectively, I expect these improvements to reverse the recent surge in costs and promote a healthy cash flow stream for advancing Prosperity through construction.
Speaking of Prosperity -- the star of this show, leaving investors giddy with anticipation -- Taseko still expects that all-important mine permit to be approved in either September or October. The company has already awarded some preliminary contracts with the expectation of a positive finding. Prospective mine developers throughout the Canadian provinces -- from NovaGold Resources (AMEX: NG) with its long-awaited Galore Creek project, to Agnico-Eagle Mines (NYSE: AEM) with its desired advance into more frigid climes -- will likewise wait with bated breath for this impending word from the Canadian Federal Cabinet.
Whatever the outcome, one thing is for sure: Taseko has never stood on a bigger world stage.
More than 1,680 Motley Fool CAPS members have lined up behind Taseko with high expectations for Prosperity. As a longtime shareholder, I stand right there with them.
http://www.fool.com/investing/international/2010/08/16/for-taseko-all-the-worlds-a-stage.aspx
2nd quarter results look pretty good. I particularly liked the paragraph and line below. It seems as if they are moving forward fully expecting Federal approval for Prosperity.
Mr. Hallbauer added, "Regarding Prosperity, upon Federal approval of the project we need to be positioned to move forward with no further delays. In anticipation of final approval, we are advancing certain aspects of the Project. In July, a contract was signed with Ausenco Limited for the first stage of the Engineering and Procurement. During the second quarter, miscellaneous statutory permit applications were submitted, including the application for the British Columbia Mines Act Permit. Additionally, procurement of long lead equipment, project financing and negotiating concentrate sales agreements continue to be advanced."
Press Release Source: Taseko Mines Limited On Friday July 9, 2010, 1:25 pm
VANCOUVER, July 9 /PRNewswire-FirstCall/ - Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") reports unaudited second quarter production results for the Gibraltar Mine.
For the second quarter of 2010, Gibraltar produced 20.1 million pounds of copper and 218 thousand pounds of molybdenum.
A quarter over quarter production comparison is below:
Q4 2009 Q1 2010 Q2 2010
Mill Throughput (millions, ton 3.2, 3.6, 3.6 Copper Recoveries (%) 84.1, 89.8, 88.7 Copper Production (millions, lbs) 17.4, 23.2, 20.1
The Gibraltar concentrator continued to perform very well during the quarter with all circuits stabilized and operating at budgeted levels. Metal production for the period was slightly lower than the first quarter as a result of decreased copper head grade, a typical fluctuation as mining advances through the pit. The lower grade ore also had a minor effect on copper recoveries. Grade and recoveries are expected to trend higher for the third quarter.
Construction continues on the remaining modernization projects. During the second quarter the in-pit primary crusher and conveyor system was commissioned. This new system will reduce the mine's haul truck requirement by two trucks as a result of a decrease in ore haul distance of two kilometres (a 40% shorter haul). Additionally, the original primary crusher will act as a backup to the new system providing reliability for planned and unplanned shutdowns of the in-pit crusher.
The final concentrator upgrades are expected to be completed during the third quarter and construction of the new SAG mill feed system will commence shortly.
Russell Hallbauer, President and CEO of Taseko, commented, "Copper production for the first half of 2010 was 38% higher than the second half of 2009. This is a reflection of the operational improvements which have been made at Gibraltar. Anticipating a further increase to mill throughput in the coming months, we are in the process of purchasing additional haul trucks for the mine, complementing the arrival of a new 495HR Bucyrus shovel. These new trucks will replace older haul trucks, reducing operating and maintenance costs."
Note: Gibraltar is a Joint Venture owned by Taseko Mines Limited (75%) and Cariboo Copper Corp. (25%). All figures are reported on a 100% basis.
http://finance.yahoo.com/news/Taseko-Announces-Strong-prnews-2118317518.html?x=0&.v=16
Are you adding any at these prices?
Here's a promising article on the recent s/p drop.
Taseko Mines: Through Adversity to Prosperity
By Christopher Barker
July 8, 2010 | Comments (0)
Did you wrestle prosperity from the clenched fist of adversity?
Any watchful Fool who took advantage of the abrupt 30% drop in shares of Taseko Mines (AMEX: TGB) to acquire a stake in the attractive Prosperity mine may have done just that -- prospered.
Confusion has a significant adverse effect
The sell-off in Taseko shares began even before the findings of a federal review panel became public, and accelerated once the report noted some "significant adverse effects" relating to the project. However, as the company explained in a press release Monday -- and reinforced in a conference call Tuesday -- these findings substantially mirror those of the earlier environmental assessment conducted by the British Columbia provincial authorities that nonetheless resulted in the granting of key permits.
The notion that this mine presents a significant adverse effect upon fish and fish habitat in the Fish Creek watershed is nothing new. To mitigate the loss of Fish Lake and surrounding meadows under the proposed mine plan, Taseko would build a new lake just upstream. Taseko also remains bound to comply with 103 items presented by the provincial authorities as conditions for project approval.
To the clear frustration of Taseko's management, positive findings of the panel were notably overlooked in recent media reports. The report found no significant adverse effects to surface water quality, groundwater, terrain and soils, old growth forest, grassland ecosystems, air quality, or fish health in the Taseko River.
Furthermore, this particular federal review panel did not have a mandate to consider the economic impacts of the project as the provincial process did. When the Cabinet makes its crucial determination -- expected sometime in September or October -- it will weigh the substantial economic importance of this project alongside environmental considerations.
Some have compared the permitting challenges at Prosperity to Northgate Minerals' (AMEX: NXG) Kemess North project -- a proposed gold mine in British Columbia that was denied a permit in 2008 -- but Kemess North carried substantially less economic heft than Prosperity.
Using data provided by the same firm that conducts economic modeling for some Canadian government agencies, Taseko estimates that Prosperity will produce billions of dollars of revenue for federal and provincial governments, create 60,000 person-years of employment, and spawn some C$7 billion in consumer spending.
Under the present economic reality, I believe that these considerations will carry substantial weight, and I therefore view concerns over the fate of the project and the related sell-off in Taseko shares as entirely overblown.
http://www.fool.com/investing/small-cap/2010/07/08/taseko-mines-through-adversity-to-prosperity.aspx
Locking in a gain at $5.46 was a smart move. I sold some at $6 and wish I would have sold them all now. I wouldn't want to give you wrong advice either way so I'll just ask you, are you a gambling man?
The future s/p of this stock rests in the hands of the cabinet who can make alot of us very happy by granting final approval. But it looks like its gonna be a tough battle...
http://www.theglobeandmail.com/globe-investor/environmental-review-sinks-taseko-stock/article1628496/
IMO I still think this company has a bright future and will add some on the fear of non-approval.
http://www.fool.com/investing/general/2010/06/18/wall-streets-best-unknown-stocks.aspx
Wall Street's Best Unknown Stocks
By Rich Duprey
June 18, 2010 | Comments (0)
When asked for the secret of his success, baseball player Wee Willie Keeler replied, "Hit 'em where they ain't." What worked for Willie at the plate applies equally well in investing.
Seeking stocks that others ignore, shun, or simply forget gives individual investors like you an edge over the professionals. When Wall Street turns a blind eye, you have a chance to get in before these stocks are discovered -- or rediscovered -- and start taking off.
Below, we'll check out companies with only a handful of analysts covering them, then pair our list with the opinions of the Motley Fool CAPS community. A stock that earns CAPS' top ratings, but hasn't yet caught analysts' attention, could be your next home run investment.
Company
CAPS Rating
(out of 5)
Wall Street Picks
5-Year EPS Growth
Patriot Coal (NYSE: PCX)
****
4
5%
Taseko Mines (NYSE: TGB)
****
1
NA
Vanda Pharmaceuticals (Nasdaq: VNDA)
*
4
30%
Remember, without analyst support, you'll have to do your own scouting to see whether these stocks deserve a spot in your portfolio. Don't just buy or sell them based solely on their appearance here.
A utility player
We hardly need to be reminded of the risks involved in coal mining following the explosion at one of Massey Energy's (NYSE: MEE) mines, yet just weeks after winning awards for safety at seven of its mines, Patriot Coal experienced a roof collapse at its Harris No. 1 mine. Fortunately, there were no injuries.
A plentiful resource, coal remains a key component of our manufacturing and industrial-base energy needs. When the Commerce Department released its latest report showing durable good orders rose for the fourth month out of the past five, the shares of Massey, Patriot Coal, and CONSOL Energy (NYSE: CNX) all jumped in response. Shares of Peabody Energy, the country's largest coal producer, also rose.
Despite it being an important part of the economy, the industry will be hampered by greater scrutiny of its practices. The Army Corps of Engineers just suspended a fast-track permitting program for mountaintop removal of the coal beneath, and the Environmental Protection Agency is deciding whether to allow Arch Coal (NYSE: ACI) to proceed with developing the biggest surface mine in West Virginia.
In looking at Patriot Coal, highly rated CAPS All-Star SultanOfSwing anticipates a rough patch.
Harris mine collapse on 6/12. "The lower production is expected to negatively impact second quarter 2010 earnings." It must be a big loss of revenue.
The big dig
Taseko Mines hasn't been in the spotlight because of any of the dangers inherent in copper and gold mining, but while copper prices fall on concerns about the U.S. recovery, gold continues its march higher. After selling a 22% stake in the gold from its British Columbia Prosperity mine, Taseko just signed a 25-year lease on it and expects to produce an estimated 250,000 ounces of gold and 115 million pounds of copper annually over 33 years.
All-Star DarthMaul09 is bullish on Taseko.
Over sold and making a comeback. All the recent news has been good for this company so its recent price fall was just collateral damage from the general market's sell off.
Kicking it higher
At less than $7 a share, Vanda Pharmaceutical trades for less than the cash it has on hand. With Fanapt, which treats schizophrenia in adults, getting FDA approval, Novartis (NYSE: NVS) launched the drug in the first quarter. It generated $21 million in revenue, for which Vanda was paid $2.1 million in royalties.
That's why CAPS member kampaakampaa says the tiny pharmaceutical is significantly undervalued.
Swing for the fences
If you're seeking investments where no one else is looking, Motley Fool CAPS is the best place to start your research. Read a company's financial reports, scrutinize key data and charts, and examine the comments your fellow investors have made, all from a stock's CAPS page.
http://finance.yahoo.com/news/Taseko-Receives-LongTerm-prnews-2376633224.html?x=0&.v=56
VANCOUVER, June 9 /PRNewswire-FirstCall/ - Taseko Mines Limited (TSX: TKO; NYSE Amex: TGB) ("Taseko" or the "Company") is pleased to announce that the British Columbia Provincial Government has granted Taseko a long-term, renewable, 25-year mining lease for the Prosperity gold-copper project. The mining lease provides the Company with mineral tenure security.
Russell Hallbauer, President and CEO of Taseko commented, "Converting the Prosperity mineral claims to a mining lease is another important milestone in the development of our Prosperity Project and a further endorsement by the British Columbia Government. The mining lease represents a direct interest in land and is the highest attainable form of mineral ownership rights associated with publicly-owned crown land in British Columbia. The mining lease also provides Taseko with the right to use the land for mining purposes."
In January of this year, the British Columbia Government awarded Taseko an Environmental Assessment Certificate for Prosperity. In May, the Company announced a gold stream finance agreement with Franco Nevada which, when combined with the proceeds generated by the sale of 25% of Gibraltar to a Japanese consortium and future Gibraltar cash flow, will give Taseko approximately 80% of the funds required to build Prosperity.
Securing a mining lease is one of the conditions stipulated in the agreement with Franco Nevada. With the issuance of this long-term lease by the Government, an important condition of that agreement has now been met.
The Company has been actively preparing and pursuing other permit applications and requirements, amongst them being the provincial Mines Act Permit.
TGB mentioned below...
Eyeing Par for Silver's Brightest Star
By Christopher Barker
May 17, 2010
The word par often conveys mediocrity. If you score par in golf, congratulations: You've just matched the course's intended score for the average player. But in stockspeak, par means $100 per share -- and I now think my top pick in silver will reach that milestone before the decade's done.
I pegged a truly golden opportunity for Foolish investors when shares of Silver Wheaton (NYSE: SLW) smacked a lowly price of just $2.51. The stock has advanced more than 700% during the subsequent 18 months. After a phenomenal run like that, how can I feel so assured of such enormous strength to come? Let's walk through the rationale, beginning with a glimpse of the silver stream specialist's first-quarter earnings.
Silver Wheaton earned $44.6 million for the quarter, and once again excelled at producing unobstructed cash flow with a fresh $57.6 million injection from operations. After producing 5.5 million silver equivalent ounces (SEOs) to start the year, the company reiterated its 2010 production target of 23.5 million SEOs. That mark implies a 35% surge in production over 2009 volumes, even after 2009's 46% increase from the previous year.
This company is quickly growing toward its 2013 target of 40 million SEOs ... yet the stock has only just recently surpassed both the prevailing price of silver and its previous all-time high. Goldcorp's (NYSE: GG) enormous Penasquito operation continues to meet or exceed ramp-up expectations, and Barrick Gold's (NYSE: ABX) Pascua Lama looms as another electrifying growth catalyst by 2013.
Although low-cost leaders Hecla Mining (NYSE: HL) and Silvercorp Metals (NYSE: SVM) enjoy loyal investor followings of their own -- and deservedly so -- Silver Wheaton's essentially fixed-cost business model offers investors a more reliable means of calculating future cash flows, corresponding to their own anticipated price trajectories for silver. The company is already enjoying an operating margin of $13.16 per silver ounce in the first quarter. If this multiyear bull market trend continues, it will yield expanding cash flows for Silver Wheaton, just as the industry struggles to fast-track mine development in response to sustained demand.
With the world's credit markets still highly uncertain and tenuous, I believe that Silver Wheaton's capacity to provide miners with up-front development capital in return for silver streams will remain in high demand. Punctuating that broader expectation, Taseko Mines (AMEX: TGB) reported last week that it sold 22% of future gold production from the Prosperity mine to Franco-Nevada for $350 million. Unlike typical royalty arrangements, this deal notably mimics the Silver Wheaton business model.
In conclusion, I believe Silver Wheaton's expanding cash flow, combined with sustained demand for mine development capital, will yield further acquisitive growth and greater shareholder value. Based upon current assets and silver prices, and despite the incredible share advance noted above, I still consider the shares fundamentally undervalued. Coupled with my long-held silver target price of $50 per ounce, I expect that sustained acquisition activity and continued organic growth will propel Silver Wheaton shares into triple-digit territory (adjusting for any splits, of course) by the time this precious-metals bull market reaches its zenith.
http://www.fool.com/investing/international/2010/05/17/eyeing-par-for-silvers-brightest-star.aspx
FWIW...
Taseko Mines Target Raised To C$7.50 From C$6.70 By CIBC >TGBLast update: 5/17/2010 7:46:40 AM(END) Dow Jones Newswires (212-416-2400)May 17, 2010 07:46 ET (11:46 GMT)
Taseko Target Raised To C$7.75 From C$7 By Paradigm >TGBLast update: 5/17/2010 8:40:46 AM(END) Dow Jones Newswires (212-416-2400)May 17, 2010 08:40 ET (12:40 GMT)
Not a great response to the report so far, any thoughts?
I read through them and thought they were pretty solid.
Nice board, been in the stock for about 6 months or so and its been nothing but NICE so far.
Hopefully more to come...
Don't forget "The List"!
I refuse to sell my worthless shares, I want to see them in my account everyday to remind myself of the lesson I learned with this "investment".
You might be able to bump into him at the next Essex County Finance Committe meeting (if this is the same TS)
http://www.co.essex.ny.us/BdOfSupervisors/(vs50z245f3kundapvtyyuz45)/Minutes/2008_50_20081117_Finance%20Committee%2011-17-08.pdf
Seaway Valley Announces Product Launch by Portfolio CompanyLast
update: 12/10/2008 11:39:00 AMNorth Country Farms mill producing Premium Pancake Mix and Pastry Flour from locally grown wheat GOUVERNEUR, N.Y., Dec 10, 2008 (BUSINESS WIRE) -- Seaway Valley Capital Corporation (SWYV), a diversified holding company, announced that North Country Farms, LLC, which it co-founded with upstate New York investors and employees, has begun shipping North Country Farms Premium Pancake Mix and Pastry Flour. One of the area's the dominant wholesale distributors in the food service business is distributing the product as part of its "Local Foods Initiative." Additionally, Hackett's, which is owned by Seaway Valley, is retailing the product at seven of its locations, and wholly owned subsidiary, Alteri Bakery, Inc., anticipates utilizing the product in its pastry line.
Kevin Richardson, President of North Country Farms, stated "We are excited to begin marketing our grain line under the North Country Farms label." Mr. Richardson added, "The initiate feedback with respect to freshness and quality has been outstanding." North Country Farms is planning additional locally produced products for 2009, and these may include muffin mixes and corn meal as well as fresh produce, maple syrup, honey and dairy products. Mr. Richardson added, "It is certainly beneficial to have Seaway Valley Capital as an investor. Its investment holdings and cooperation allow the business to quickly integrate into the commercial bakery, retail and restaurant markets."
North Country Farms, LLC () was established to become the premier food grower and processor in Northern New York. With values of integrity, community and sustainability, North Country Farms is committed to locally growing, processing and selling wholesome food products to contribute to a healthier and more prosperous community. North Country Farms currently produces stone ground white and whole wheat flour and pancake mix from locally grown wheat. North Country Premium Pancake Mix and Pastry Flour is available through select wholesale and retail outlets. In 2009 North Country Farms intends to grow produce with same day vine-to-plate freshness for local restaurants and retail consumers. The business is considering other products as well.
Did you happen to play NCC at all? Nice call on it hitting $2.50 the other day!
Jumped back in yesterday and out today for a nice flip.
No problem, you've been plenty right about everything else regarding this stock.
TS bought the Sailfish point place on 7/31/01 for $500,000 and the current market valuation for tax purposes is $809,000 (not a bad buy).
1. Click on the link below
2. click on "property search" on the left
3. type in "scozzafava" where it asks for the owner name
4. click on the Sailfish Point proprty
This gives you purchase price, sale date, previous owners and current valuation for tax purposes etc.
I admit, I wish I would have listened to Crash about this stock along time ago, but I don't agree with him that he bought the Florida home last year.
http://fl-martin-appraiser.governmax.org/propertymax/rover30.asp?sid=D13DEB1E59794BF2AEC31FFBC3066326
I am pretty suprised the bill didn't pass, I see tough times ahead now for sure.
Wow, my timing couldn't have been worse for a re-entry. I was betting that the bailout bill would pass with no problem. I was able to scramble and get out at $1.80 for a minimal loss.
I'll wait for another re-entry until the smoke clears, I think this stock would be a steal in the $1 area but who knows now with these crazy markets.
Thanks MrBigz, I appreciate the response and you taking the time to post the chart.
I know these financial stocks are huge risks right now but this is one I think has a great chance of coming out of this mess OK.
I am back in at $1.91 so I'll keep my fingers crossed for something close to $2.50 in the short term.
Thanks again!
Hi all, new to the board but just wondered if any of the resident chart experts could tell me how the chart looks on National City Bank (NCC). I've been in and out of this stock a few times this morning for nice gains and was looking to get back in soon.
From watching level 2, it looks like a lot of accumulation took place around $2 this afternoon but my chart reading skills are nonexistent.
Any chance this breaks through $2 soon?
Thanks!
I've been reading here for a while now, I wish I would have listened to all of the advice sooner. Here's an FYI I thought you guys might have fun with...
Assembly Republicans who bucked party leaders and voted to legalize same-sex marriage in New York have been rewarded with an outpouring of donations from gay rights advocates across the nation.
Another Republican who voted for gay marriage, Assemblywoman Dierdre Scozzafava of Saint Lawrence County, received 26 out-of-state donations out of 34 individuals, making up $15,000 of her total haul of $18,700.
http://www.nysun.com/new-york/assemblys-gay-rites-backers-reap-benefits/83387/
Glad to see you're back up and running.
What's your take on this new "sport"?
http://news.yahoo.com/s/ap/20080716/ap_on_re_eu/chess_boxing
Sackets Harbors flagship brand among top poured in three day festival SACKETS HARBOR, N.Y., Jul 15, 2008 (BUSINESS WIRE) -- Seaway Valley Capital Corporation (SWVC) today announced that Sackets Harbor Brewing Company's award winning 1812 Amber Ale was one of the top draughts poured at the sixth annual Empire State Brewing and Music Festival. The Empire State Brewing and Music Festival (), which was held at the City of Syracuse's festival site in Clinton Square, saw a record turnout for the Friday beer festivities and continued to enjoy strong turnout throughout the music portion of the three-day festival. In addition to 1812 Amber Ale, Sackets Harbor Brewing Company featured three other of its hand-crafted ales for sampling at the Festival, including Thousand Island Pale Ale, Harbor Wheat, and Railroad Red beer.
In addition to Sackets Harbor Brewing Company, select participating brewers included Allagash, Anchor Steam, Anheuser Busch Craft, Bacardi, Blue Moon Ale, Blue Point Brewing Company, Brewery Ommegang, Brooklyn Brewery, Empire Brewing Company, Guinness, Harp, Harpoon Brewery, Heineken, High Falls Brewing Company, Hoegaarden Whitbier, Hook & Ladder, Ithaca Beer Company, Killian's, Lake Placid Pub and Brewery, Long Trail, Magic Hat Brewing Company, McSorley's, Middle Ages Brewing Company, Mike's Hard Lemonade, Miller, Newcastle Brewing, Red Stripe, Samuel Adams, Saranac Brewery, Sierra Nevada, Smuttynose Brewing Company, Southern Tier Brewing Company, Twisted Tea, and Yuengling, among others.
The event's main sponsors included the Dinosaur Bar-B-Q (), Empire Brewing Company (), Clear Channel Radio, and the Syracuse Post Standard
Sackets Harbor Brewing Company Makes it to Daytona International SpeedwayLast update: 7/8/2008 8:00:12
AMCompany's "1812 Amber Ale" served at Coke Zero 400 over Fourth of July Weekend SACKETS HARBOR, N.Y., Jul 08, 2008
(BUSINESS WIRE) -- Seaway Valley Capital Corporation (SWVC) today reported that its War of 1812 Amber Ale, which is produced by wholly owned subsidiary Sackets Harbor Brewing Company, was featured on draught at this year's "Coke Zero 400 powered by Coca-Cola at Daytona." The Coke Zero 400 is a 160 lap, 400 mile NASCAR Sprint Cup Series stock car race held on the first Saturday night of July, usually around Independence Day weekend, at the Daytona International Speedway.
Martin Rosen, President of All American Coffee and Beverage, Inc., stated "we felt that given the historical relevance of '1812 Amber Ale' with this weekend it would be a perfect time to introduce the product to NASCAR fans." Mr. Rosen added, "And I can say without hesitation it was a great success, as we poured even more than was expected and actually almost ran out of product." Mr. Rosen estimated hundreds of draughts were poured at this year's event that featured Kyle Busch besting Carl Edwards in a door-to-door drag race that ended under caution with Busch earning his Sprint Cup Series-best sixth victory of the season.
All American Coffee and Beverage, Inc. plans to pursue attendance at several additional events throughout the year, featuring 1812 Amber Ale at many.
Bookmark added.
My mistake, I thought you were talking about a lien on his residence. I should have followed the whole conversation.
Hey, at least he pays his personal real esate taxes, as for everything else well...
Something I haven't seen posted here is that the assessed valuation of real property is PUBLIC RECORD, so its easy to look up the value of all these properties (and sometimes the purchase price).
A while back it was posted that TS had ran off with all of our money and moved to Florida, but he actually bought his place in July of 2001, so I wasn't so worried after I looked it up (looks like he got a good deal too).
http://fl-martin-appraiser.governmax.org/propertymax/rover30.asp?sid=D13DEB1E59794BF2AEC31FFBC3066326
Here are a few other helpful links for looking this stuff up.
http://www.co.jefferson.ny.us/rpstoweb.nsf/$$search
http://www.co.st-lawrence.ny.us/Real_Property/2007%20ASSESSMENT%20ROLL/RP-Listoffinal.html
I think he's caught up now on all 3 of his properties. That may have been for a past lien.
http://egov.basny.com/villageofsacketsharbor/iTax_bill.aspx?97ifbv4YOwGAZBXON9dmbEY7PGFx39hR
http://egov.basny.com/villageofsacketsharbor/iTax_bill.aspx?vhriXIse4KqIKwxFSaATezfWB%2f8K0%2f%2bQ
http://egov.basny.com/villageofsacketsharbor/iTax_bill.aspx?VbCHaybv%2fc81wTWzWPULmbvMuwoxY3d0
No problem, not much meat to it but maybe it will help.
Sackets Harbor Brewing Company to Co-Host Beer and Wine FestivalLast update: 6/2/2008 9:00:06 AMSackets Harbor 1812 Beer and Wine Festival Scheduled for Saturday June 7th SACKETS HARBOR, N.Y., Jun 02, 2008 (BUSINESS WIRE) -- Seaway Valley Capital Corporation (SWVC) today announced that its wholly owned subsidiary, Sackets Harbor Brewing Company ("SHBC"), together with the Sackets Harbor Fire Company, will be hosting the first annual "Sackets Harbor 1812 Beer and Wine Festival" in the village of Sackets Harbor this Saturday, June 7th from 12 noon until 6 pm. () The event centers around the sampling of great New York State beers and wines, but will also have a variety of other premium beers, food, music, and other activities throughout the day. In addition to Sackets Harbor Brewing Company, participating brewers include Middle Ages Brewing Company, Lake Placid Pub & Brewery, Olde Saratoga Brewing Company, Buster's Brew Pub, Ithaca Brewing Company, and Rohrbach Brewing Company. Participating distributors include Eagle Beverage, A.J. Missert, Doldo Brothers, and TJ Sheehan showcasing brands such as Guinness, Harp, Stella Artois, Saranac, Sam Adams, Harpoon, Leinie's Weater, Southern Tier Brewing Company, Smutty Nose Brewery, Dog Fish Head, Rogue, Brooklyn Brewery, Lindeman's Framboise and many more. Participating New York State wineries include The 1000 Islands Winery and Heron Hill Winery. Musical acts such as The Bag Pipe Dudes, Andy Taylor, and The Critics will be featured, and there will be live radio broadcasts from Froggy 97 and The Border. Other activities include rock climbing, inflatables, face painting, and horse and wagon rides. In addition, the 3rd Annual Chowder Fest will be held in conjunction with the Brew Fest where contestants are being asked to make a minimum of five (5) gallons of chowder or chili that will be enjoyed by the thousands expected as well as judged. The event also enjoys other supporters such as The New York State Brewers Association, Caprara Brothers Honda and FX Caprara, Channel 7 News, Hopkins Homes, Pepsi, Fort Drum Morale, Welfare and Recreation, the Village of Sackets Harbor, the Town of Hounsfield, and the Sackets Harbor Chamber of Commerce. For more information contact the event Chairperson, Joel Derouin at slderouin@hotmail.com. About Sackets Harbor Brewing Company and the Brew Pub Sackets Harbor Brewing Company develops, produces, and markets micro brewed beers such as the award winning "1812 Amber Ale" and "Railroad Red Ale" as well as "Thousand Island Pale Ale", "1812 Amber Ale Light" and "Independence Wheat" specialty beers. Its "1812 Amber Ale" is the company's flagship brand and was the winner of a Silver Award at the 1998 World Beer Championship. The company has also developed complementary products such Sackets Harbor Coffee and Sackets Harbor Brewing Co. Root Beer. Sackets Harbor Brew Pub is an operating "Brew Pub" that produces its own specialty beer on site while also offering fine dining. The Brew Pub offers six of its own brews on tap including each of its regionally sold beers such as 1812 Ale, Railroad Red, and Thousand Island Pale Ale as well as ever changing seasonal offerings. About Seaway Valley Capital Corporation Seaway Valley Capital Corporation makes equity, equity-related, and debt investments in companies that require expansion capital. Seaway also seeks investments in leveraged buyouts and restructurings. Seaway will consider investment opportunities in a number of different industries, including retail, restaurants, media, business services, manufacturing, and select technologies. Safe Harbor Statement This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the Company, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Hey guys, still here (admittedly with less shares than before) and have decided to become a lurker/reader as I have been pretty much 100% wrong on my predictions/hopes for this company. I ran across this and decided to share. I will hold the shares that I have and pray for a miracle at this point. Good luck everyone.
http://www.wicombatsports.com/index.php?option=com_content&task=view&id=349&Itemid=1
I haven't seen IronMan yet either, will probably wait for it to come out on dvd, but everything I've heard/read about it has been positive. I might actually brave the theater to go see the new Indiana Jones movie though, will wait till the buzz dies down a little so I don't have to battle a full theater.