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Taseko Announces Strong Operational Performance at Gibraltar and Florence Copper
T.TKO | June 3, 2020
VANCOUVER, BC, June 3, 2020 /CNW/ - Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ("Taseko" or the "Company") is pleased to announce strong operating results at both its Gibraltar Copper Mine and Florence Copper Project. Increased health and safety protocols continue and there have been no operational disruptions or known cases of COVID-19 at any of Taseko's locations to-date.
Russell Hallbauer, Chief Executive Officer and Director of Taseko, commented, "It has been a little over two months since we adjusted our mine plan at Gibraltar to respond to the lower copper price environment as a result of COVID-19. The mine is currently operating to the new plan and through the first five months of the year has produced approximately 57 million pounds of copper and nearly 900,000 pounds of molybdenum. Under the new plan we had expected site spending to decline by at least US$0.40 per pound. Total operating costs (C1) for April and May have averaged approximately US$1.30 per pound and cost deferrals in place accounted for an additional US$0.10 per pound of cash savings. We continue to see lower input costs across the full supply chain. Additionally, we just concluded a spot tender at a TC/RC rate approximately 40% below the 2020 benchmark level as buyers need clean, high quality concentrate like Gibraltar's. We expect lower TC/RCs to continue due to a shortage of concentrate from ongoing mine curtailments."
Taseko Announces Strong Operational Performance at Gibraltar and Florence Copper
T.TKO | June 3, 2020
VANCOUVER, BC, June 3, 2020 /CNW/ - Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) ("Taseko" or the "Company") is pleased to announce strong operating results at both its Gibraltar Copper Mine and Florence Copper Project. Increased health and safety protocols continue and there have been no operational disruptions or known cases of COVID-19 at any of Taseko's locations to-date.
Russell Hallbauer, Chief Executive Officer and Director of Taseko, commented, "It has been a little over two months since we adjusted our mine plan at Gibraltar to respond to the lower copper price environment as a result of COVID-19. The mine is currently operating to the new plan and through the first five months of the year has produced approximately 57 million pounds of copper and nearly 900,000 pounds of molybdenum. Under the new plan we had expected site spending to decline by at least US$0.40 per pound. Total operating costs (C1) for April and May have averaged approximately US$1.30 per pound and cost deferrals in place accounted for an additional US$0.10 per pound of cash savings. We continue to see lower input costs across the full supply chain. Additionally, we just concluded a spot tender at a TC/RC rate approximately 40% below the 2020 benchmark level as buyers need clean, high quality concentrate like Gibraltar's. We expect lower TC/RCs to continue due to a shortage of concentrate from ongoing mine curtailments."
Superior Gold Inc. [SGI.V] is a Canadian based gold producer that owns and operates 100% of the Plutonic Gold operations located in the world class goldfields of Western Australia.
JUST OUT: INTERSECTIONS INCLUDE 56.3 G AU/T OVER 15.10 METRES
Some say 'MOST UNDERVALUED GOLD STOCK'.
Superior Gold Inc. [SGI.V] is a Canadian based gold producer that owns and operates 100% of the Plutonic Gold operations located in the world class goldfields of Western Australia.
JUST OUT: INTERSECTIONS INCLUDE 56.3 G AU/T OVER 15.10 METRES
Some say 'MOST UNDERVALUED STOCK'.
>>> "It takes 100 oz of silver today to buy an ounce of gold.
This unbalanced ratio will not last very long and soon silver will make
a move to the upside.
USAS, or T.USA (Toronto) is a significant silver producer with mines
in the USA and Mexico.
This undervalued company (as of today) is a strong buy."
My USAS Pitch: "It takes 100 oz of silver today to buy an ounce of gold. This unbalanced ratio will not last very long and soon silver will make a move to the upside. USAS, or T.USA (Toronto) is a significant silver producer with mines in the USA and Mexico.
This undervalued company (as of today) is a strong buy."
This gold miner in Australia is still producing full tilt and
should soon hit 100,000 oz per year as a 2nd project goes on line.
"Superior Gold Inc. is a Canadian based gold producer that owns and operates 100% of the Plutonic Gold operations located in the world class goldfields of Western Australia. The Plutonic Gold operations include the Plutonic underground gold mine, the Hermes open pit projects and an interest in the Bryah Basin joint venture. The Plutonic mine has been in continuous production since 1990 and, having produced more than 5.5 million ounces of gold, is one of Western Australia's largest historic gold producers.
In 2020, the Company is targeting production of between 80,000 to 90,000 ounces and remains focused on establishing the Plutonic Gold operations as a producer capable of delivering at least 100,000 ounces of gold annually.
The Company is focused on true shareholder returns and operating as a business first and a gold company second."
This is still under $1 per share and trades in Toronto (TSX-V) under
"SGI".
This gold miner in Australia is still producing full tilt and
should soon hit 100,000 oz per year as a 2nd project goes on line.
"Superior Gold Inc. is a Canadian based gold producer that owns and operates 100% of the Plutonic Gold operations located in the world class goldfields of Western Australia. The Plutonic Gold operations include the Plutonic underground gold mine, the Hermes open pit projects and an interest in the Bryah Basin joint venture. The Plutonic mine has been in continuous production since 1990 and, having produced more than 5.5 million ounces of gold, is one of Western Australia's largest historic gold producers.
In 2020, the Company is targeting production of between 80,000 to 90,000 ounces and remains focused on establishing the Plutonic Gold operations as a producer capable of delivering at least 100,000 ounces of gold annually.
The Company is focused on true shareholder returns and operating as a business first and a gold company second."
This is still under $1 per share and trades in Toronto (TSX-V) under
"SGI".
check out chart for WDOFF;
next stop 'blue sky'?
Ralph Aldis: "Right now, probably the most likely company to get taken out in the gold space in 2019 is Wesdome Gold Mines Ltd. (WDO:TSX). It has a couple of mines that are running. It has the Kiena operation where it is basically redeveloping, and it's had some great holes found there that have hit, in some cases, multiounce per ton. That mine is starting to shape up to look like a real gem.
The gentleman running it, Duncan Middlemiss, the CEO—people I know were throwing term sheets at him all in this past year if he wanted to raise some money, and he didn't need to raise any money. He's put money in the bank account and continued to execute and put out good drill results.
I think this is one of these ones like where Alamos Gold went and bought Richmont Mines Inc. or when you had SSR Mining buy Claude Resources. Wesdome is one of those companies that's geographically situated in a very safe jurisdiction. It has a lot of prospectivity. Investors probably could do well to buy and hold on that one for a while. The management team there and the board of directors are very much involved in trying to make that story a success.
check out the chart on WDOFF;
next stop is blue sky>>>>>>>
Ralph Aldis: "Right now, probably the most likely company to get taken out in the gold space in 2019 is Wesdome Gold Mines Ltd. (WDO:TSX). It has a couple of mines that are running. It has the Kiena operation where it is basically redeveloping, and it's had some great holes found there that have hit, in some cases, multiounce per ton. That mine is starting to shape up to look like a real gem.
The gentleman running it, Duncan Middlemiss, the CEO—people I know were throwing term sheets at him all in this past year if he wanted to raise some money, and he didn't need to raise any money. He's put money in the bank account and continued to execute and put out good drill results.
I think this is one of these ones like where Alamos Gold went and bought Richmont Mines Inc. or when you had SSR Mining buy Claude Resources. Wesdome is one of those companies that's geographically situated in a very safe jurisdiction. It has a lot of prospectivity. Investors probably could do well to buy and hold on that one for a while. The management team there and the board of directors are very much involved in trying to make that story a success."
Troymet Exploration Corp. (TYE)
Explorer's project adjacent to a developing gold mine
Sector: Metals & Mining | Sub-Sector: Gold
Troymet Exploration Corporation is a mineral exploration and production company explores and evaluates mineral properties in Canada. It mainly explores for gold, silver, and base metal properties.
Can you describe your company and say what it does?
Troymet Exploration is a junior mineral exploration company with three high-potential properties. The flagship “Key” property is located immediately adjacent to New Gold’s Blackwater property, which hosts the Blackwater gold deposit and is projected to be in production by 2017. Troymet plans to conduct a major exploration drilling program on the Key in summer 2012.
What distinguishes your company from others in your space?
Troymet’s properties have a high-discovery potential. The Key project in particular is significantly under-explored, while being adjacent to and having similar geology with a developing gold mine.
Can you explain why you have chosen to work in Western Canada?
Troymet is headquartered in British Columbia so the costs of exploring our B.C. properties, which are road accessible, are greatly reduced. The specific geological setting of each property also increases the potential for the discovery of large mineral deposits.
Can you describe your company and say what it does?
Troymet Exploration (TSX: V.TYE, Stock Forum) is a junior mineral exploration company with three high-potential properties. The flagship “Key” property is located immediately adjacent to New Gold’s Blackwater property, which hosts the Blackwater gold deposit and is projected to be in production by 2017. Troymet plans to conduct a major exploration drilling program on the Key in summer 2012.
What distinguishes your company from others in your space?
Troymet’s properties have a high-discovery potential. The Key project in particular is significantly under-explored, while being adjacent to and having similar geology with a developing gold mine.
Can you explain why you have chosen to work in Western Canada?
Troymet is headquartered in British Columbia so the costs of exploring our B.C. properties, which are road accessible, are greatly reduced. The specific geological setting of each property also increases the potential for the discovery of large mineral deposits.
What are your flagship projects?
The Key project, located immediately adjacent to New Gold’s Blackwater property and future Blackwater gold mine. The property shares a similar geology to Blackwater and is significantly under-explored.
Border Petroleum (BOR)
Chart shows a double bottom in progress,
and larger volumes.
September volumes: above 14 million,
and Dundee a steady buyer ...
Summary at: Stockwrestler's Portfolio
Petrobank Energy and Resources Ltd T.PBG
to buy back shares
from September 2013 to September 2014.
Comment on Petrobank Energy on SH bullboard re: buy back of shares "This is good news. The bottom is / was .40 cents...the company will start the buy back and average down and people will follow of course!! Next year, this will be +$2 a share!"
Petrobank Energy and Resources Ltd T.PBG
to buy back shares
from September 2013 to September 2014.
Comment on Petrobank Energy on SH bullboard re: buy back of shares "This is good news. The bottom is / was .40 cents...the company will start the buy back and average down and people will follow of course!! Next year, this will be +$2 a share!"
Petrobank Energy and Resources Ltd T.PBG
to buy back shares
from September 2013 to September 2014.
Comment on Petrobank Energy on SH bullboard re: buy back of shares "This is good news. The bottom is / was .40 cents...the company will start the buy back and average down and people will follow of course!! Next year, this will be +$2 a share!"
Border Petroleum Corp. (BOR)
--this cheapie could easily double with high oil prices. It's been trading at 1.5c.;
down from a high of 16c. in the past year.
Border Petroleum Corp. (TSXV:BOR) is a publicly traded junior oil and gas company with its head office in Calgary, Alberta. The Company is focused on the development and exploitation of its light oil resource lands in the Red Earth area of north central Alberta and Leduc area of central Alberta.
Border has an experienced and skilled management team focused on building shareholder value by finding and developing light oil production and reserves.
The Company is actively developing and expanding its inventory of operated, high working interest horizontal drilling opportunities on the Slave Point light oil resource play in the Red Earth/Evi area of north central Alberta. Border also has oil operations and production in the greater Leduc area of central Alberta.
CORPORATE UPDATE
Border currently has a positive working capital balance of approximately $7.2 million and an unutilized bank line of $3.5 million. Border's current total production is approximately 176 boepd (15 percent liquids). Border's tax pool balance as at March 31, 2013 was approximately $45.4 million. Further, after taking into account qualifying expenditures of approximately $1.0 million in the quarter ended March 31, 2013, the Company has approximately $2.0 million of outstanding obligations to incur Canadian Exploration Expenses related to the September, 2012 flow-through share issuance.
On April 29, 2013, Border announced that it had formed a Special Committee of independent directors and initiated a strategic review process to identify, examine and consider a range of strategic alternatives available to Border, with a view to maximizing shareholder value. This process could result in a sale of the Corporation, a sale of a material portion of the Corporation's assets, a merger, business combination or a corporate reorganization, among other alternatives. The Special Committee has retained Dundee Securities Ltd. and Macquarie Capital Markets Canada Ltd. as co-financial advisors to assist in the strategic review process.
The strategic review process is ongoing and Border does not intend to disclose developments with respect to the strategic review process unless and until the Board of Directors has approved a definitive transaction or strategic option, or unless otherwise required by law or disclosure of which is deemed appropriate.
Border Petroleum Corp. (BOR)
--this cheapie could easily double with high oil prices. It's been trading at 1.5c.;
down from a high of 16c. in the past year.
Border Petroleum Corp. (TSXV:BOR) is a publicly traded junior oil and gas company with its head office in Calgary, Alberta. The Company is focused on the development and exploitation of its light oil resource lands in the Red Earth area of north central Alberta and Leduc area of central Alberta.
Border has an experienced and skilled management team focused on building shareholder value by finding and developing light oil production and reserves.
The Company is actively developing and expanding its inventory of operated, high working interest horizontal drilling opportunities on the Slave Point light oil resource play in the Red Earth/Evi area of north central Alberta. Border also has oil operations and production in the greater Leduc area of central Alberta.
CORPORATE UPDATE
Border currently has a positive working capital balance of approximately $7.2 million and an unutilized bank line of $3.5 million. Border's current total production is approximately 176 boepd (15 percent liquids). Border's tax pool balance as at March 31, 2013 was approximately $45.4 million. Further, after taking into account qualifying expenditures of approximately $1.0 million in the quarter ended March 31, 2013, the Company has approximately $2.0 million of outstanding obligations to incur Canadian Exploration Expenses related to the September, 2012 flow-through share issuance.
On April 29, 2013, Border announced that it had formed a Special Committee of independent directors and initiated a strategic review process to identify, examine and consider a range of strategic alternatives available to Border, with a view to maximizing shareholder value. This process could result in a sale of the Corporation, a sale of a material portion of the Corporation's assets, a merger, business combination or a corporate reorganization, among other alternatives. The Special Committee has retained Dundee Securities Ltd. and Macquarie Capital Markets Canada Ltd. as co-financial advisors to assist in the strategic review process.
The strategic review process is ongoing and Border does not intend to disclose developments with respect to the strategic review process unless and until the Board of Directors has approved a definitive transaction or strategic option, or unless otherwise required by law or disclosure of which is deemed appropriate.
Border Petroleum Corp. (BOR)
--this cheapie could easily double with high oil prices. It's been trading at 1.5c.;
down from a high of 16c. in the past year.
Border Petroleum Corp. (TSXV:BOR) is a publicly traded junior oil and gas company with its head office in Calgary, Alberta. The Company is focused on the development and exploitation of its light oil resource lands in the Red Earth area of north central Alberta and Leduc area of central Alberta.
Border has an experienced and skilled management team focused on building shareholder value by finding and developing light oil production and reserves.
The Company is actively developing and expanding its inventory of operated, high working interest horizontal drilling opportunities on the Slave Point light oil resource play in the Red Earth/Evi area of north central Alberta. Border also has oil operations and production in the greater Leduc area of central Alberta.
Pinecrest Energy Inc. (TSX: V.PRY, Stock Forum) saw its shares rise 5.3% to 40 cents Thursday, leaving a market cap of $86.8 million, based on 217.2 million shares outstanding. The 52-week range is $2.16 and 37.5 cents.
On Wednesday, Pinecrest announced a reduction in the company’s capital program for 2013 to $80 million from $135 million.
The company’s exit production guidance was lowered from 6,000 barrels of oil equivalent per day to a range of 3,100-3,400.
Pinecrest Energy Inc. (TSX: V.PRY, Stock Forum) saw its shares rise 5.3% to 40 cents Thursday, leaving a market cap of $86.8 million, based on 217.2 million shares outstanding. The 52-week range is $2.16 and 37.5 cents.
On Wednesday, Pinecrest announced a reduction in the company’s capital program for 2013 to $80 million from $135 million.
The company’s exit production guidance was lowered from 6,000 barrels of oil equivalent per day to a range of 3,100-3,400.
Petrobank Energy and Resources Ltd. (PBG)
--from Stockhouse.com bullboard re: Petrobank Energy:
Mkt Cap $48 mill..
User avatar
drd8
4 stars
August 08, 2013 08:40 pm
Petrobank has submitted an environmental protection plan for a second THAI project at Luseland, just northwest of Kerrobert. It had $79-million in working capital and no debt as of March 31.
Value to shareholders could be huge!
User avatar
MartinDupuis.com
4 stars
August 06, 2013 01:50 pm 45 reads
Post Quality
0 stars
If they can figure out how to commercialize THAI! There are trillions of barrels of heavy oil around the world that could be extracted using THAI. At .55 cents a share, this is ridiculous!!
I see PBG trading today at 42-43c. ScotiaBank analyst has an 80c. target.
With the price of oil on the upswing, I should own this one.
Their market cap is much less than cash on hand.
Petrobank Energy and Resources Ltd. (PBG)
--from Stockhouse.com bullboard re: Petrobank Energy:
Mkt Cap $48 mill..
User avatar
drd8
4 stars
August 08, 2013 08:40 pm
Petrobank has submitted an environmental protection plan for a second THAI project at Luseland, just northwest of Kerrobert. It had $79-million in working capital and no debt as of March 31.
Value to shareholders could be huge!
User avatar
MartinDupuis.com
4 stars
August 06, 2013 01:50 pm 45 reads
Post Quality
0 stars
If they can figure out how to commercialize THAI! There are trillions of barrels of heavy oil around the world that could be extracted using THAI. At .55 cents a share, this is ridiculous!!
I see PBG trading today at 42-43c. ScotiaBank analyst has an 80c. target.
With the price of oil on the upswing, I should own this one.
Their market cap is much less than cash on hand.
LGX Oil + Gas Inc. (OIL) --Update
Rated a BUY and UNDERVALUED by MorningStar analysts:
Follow the SH link to 2nd quarter results:
http://www.stockhouse.com/news/press-releases/2013/08/12/lgx-oil-gas-inc-announces-second-quarter-2013-results
www.lgxoil.com
LGX Oil + Gas Inc. (OIL) --Update
Rated a BUY and UNDERVALUED by MorningStar analysts:
Follow the SH link to 2nd quarter results:
http://www.stockhouse.com/news/press-releases/2013/08/12/lgx-oil-gas-inc-announces-second-quarter-2013-results
www.lgxoil.com
New Stock Alert:
"Pinecrest Energy, Inc is a petroleum and natural gas exploration, production and development company, with operations in the Canadian provinces of Alberta and Saskatchewan."
Cdn and US tickers (PRY) (PNCGF)
BUY and UNDERVALUED ratings from Morningstar analysts.
I have been watching this one closely and it really looks oversold now
(trading at 39-41c.)
The company had a net profit of over $4m. last quarter, and with the POO
(price of oil) remaining high, this seems like a great entry point for future gains.
New Stock Alert:
"Pinecrest Energy, Inc is a petroleum and natural gas exploration, production and development company, with operations in the Canadian provinces of Alberta and Saskatchewan."
Cdn and US tickers (PRY) (PNCGF)
BUY and UNDERVALUED ratings from Morningstar analysts.
I have been watching this one closely and it really looks oversold now
(trading at 39-41c.)
The company had a net profit of over $4m. last quarter, and with the POO
(price of oil) remaining high, this seems like a great entry point for future gains.
New Stock Alert:
"Pinecrest Energy, Inc is a petroleum and natural gas exploration, production and development company, with operations in the Canadian provinces of Alberta and Saskatchewan."
Cdn and US tickers (PRY) (PNCGF)
BUY and UNDERVALUED ratings from Morningstar analysts.
I have been watching this one closely and it really looks oversold now
(trading at 39-41c.)
The company had a net profit of over $4m. last quarter, and with the POO
(price of oil) remaining high, this seems like a great entry point for future gains.
Wednesday, September 4, 2013
Pinecrest Energy Inc. (PRY) (PNCGF)
"Pinecrest Energy, Inc is a petroleum and natural gas exploration, production and development company, with operations in the Canadian provinces of Alberta and Saskatchewan."
Cdn and US tickers (PRY) (PNCGF)
BUY and UNDERVALUED ratings from Morningstar analysts.
I have been watching this one closely and it really looks oversold now
(trading at 39-41c.)
The company had a net profit of over $4m. last quarter, and with the POO
(price of oil) remaining high, this seems like a great entry point for future gains.
Wednesday, September 4, 2013
Pinecrest Energy Inc. (PRY) (PNCGF)
"Pinecrest Energy, Inc is a petroleum and natural gas exploration, production and development company, with operations in the Canadian provinces of Alberta and Saskatchewan."
Cdn and US tickers (PRY) (PNCGF)
BUY and UNDERVALUED ratings from Morningstar analysts.
I have been watching this one closely and it really looks oversold now
(trading at 39-41c.)
The company had a net profit of over $4m. last quarter, and with the POO
(price of oil) remaining high, this seems like a great entry point for future gains.
Wednesday, September 4, 2013
Pinecrest Energy Inc. (PRY) (PNCGF)
"Pinecrest Energy, Inc is a petroleum and natural gas exploration, production and development company, with operations in the Canadian provinces of Alberta and Saskatchewan."
Cdn and US tickers (PRY) (PNCGF)
BUY and UNDERVALUED ratings from Morningstar analysts.
I have been watching this one closely and it really looks oversold now
(trading at 39-41c.)
The company had a net profit of over $4m. last quarter, and with the POO
(price of oil) remaining high, this seems like a great entry point for future gains.
Sonoro Energy Ltd SNVFF
Sector: Energy | Sub-Sector: Oil & Gas E&P
Sonoro Energy Ltd. is an oil exploration and development company. It focuses on asphalt resource exploration and development in Iraq.
THIS COULD BE A QUICK DOUBLE IF THEIR IRAQ OIL CONTRACT IS VERIFIED...they will then have the rights to all heavy oil in one province (with, I think 2 JV partners).
sw
Sonoro Energy Ltd SNVFF
Sector: Energy | Sub-Sector: Oil & Gas E&P
Sonoro Energy Ltd. is an oil exploration and development company. It focuses on asphalt resource exploration and development in Iraq.
THIS COULD BE A QUICK DOUBLE IF THEIR IRAQ OIL CONTRACT IS VERIFIED...they will then have the rights to all heavy oil in one province (with, I think 2 JV partners).
sw
Sonoro Energy Ltd SNVFF
Sector: Energy | Sub-Sector: Oil & Gas E&P
Sonoro Energy Ltd. is an oil exploration and development company. It focuses on asphalt resource exploration and development in Iraq.
THIS COULD BE A QUICK DOUBLE IF THEIR IRAQ OIL CONTRACT IS VERIFIED...they will then have the rights to all heavy oil in one province (with, I think 2 JV partners).
sw
Aroway Energy (V.ARW) gets oil price boost, stock up 5.6%
Shares of Aroway Energy Inc. (TSX: V.ARW, Stock Forum) rallied Wednesday, a move that CEO Chris Copper attributed to rising oil prices and speculation that prices could be driven high if the U.S. and its allies launch an intervention in Syria.
The shares were up 5.6% to 28 cents, leaving the company with a market cap of $17.3 million, based on 61.7 million shares outstanding. The 52-week range is 69 cents and 20 cents.
In an interview, Cooper said the higher oil price is prompting some debt-laden companies to raise cash by putting properties up for sale. He said that should spell opportunities for companies like Aroway, which is on the hunt for acquisitions in the conventional oil space.
“We are looking at conventional acquisitions, all oil,’’ said Cooper, adding that the junior’s strategy is to build on existing production and cash flow, while reducing operating costs.
“We are on pace to exit our first quarter with about $3.6 million in revenue,which would be the best we have ever done in a quarter,’’ he said. By November the company expects to have only $2.3 million of debt on its balance sheet.
Aroway has large development plans in Kirkpatrick Lake [Alberta] and West Hazel [Saskatchewan], which are currently in production.
After securing regulatory approval to install a new water disposal well, the company is hoping to double the production rate at West Hazel to 600 barrels per day.
Cooper recently told Stockhouse that he is targeting up to 1,300 barrels per day of production by the end of 2013. That’s up from 1,000 barrels per day in March 2013.
Aroway Energy (V.ARW) gets oil price boost, stock up 5.6%
Shares of Aroway Energy Inc. (TSX: V.ARW, Stock Forum) rallied Wednesday, a move that CEO Chris Copper attributed to rising oil prices and speculation that prices could be driven high if the U.S. and its allies launch an intervention in Syria.
The shares were up 5.6% to 28 cents, leaving the company with a market cap of $17.3 million, based on 61.7 million shares outstanding. The 52-week range is 69 cents and 20 cents.
In an interview, Cooper said the higher oil price is prompting some debt-laden companies to raise cash by putting properties up for sale. He said that should spell opportunities for companies like Aroway, which is on the hunt for acquisitions in the conventional oil space.
“We are looking at conventional acquisitions, all oil,’’ said Cooper, adding that the junior’s strategy is to build on existing production and cash flow, while reducing operating costs.
“We are on pace to exit our first quarter with about $3.6 million in revenue,which would be the best we have ever done in a quarter,’’ he said. By November the company expects to have only $2.3 million of debt on its balance sheet.
Aroway has large development plans in Kirkpatrick Lake [Alberta] and West Hazel [Saskatchewan], which are currently in production.
After securing regulatory approval to install a new water disposal well, the company is hoping to double the production rate at West Hazel to 600 barrels per day.
Cooper recently told Stockhouse that he is targeting up to 1,300 barrels per day of production by the end of 2013. That’s up from 1,000 barrels per day in March 2013.
Aroway Energy (V.ARW) gets oil price boost, stock up 5.6%
Shares of Aroway Energy Inc. (TSX: V.ARW, Stock Forum) rallied Wednesday, a move that CEO Chris Copper attributed to rising oil prices and speculation that prices could be driven high if the U.S. and its allies launch an intervention in Syria.
The shares were up 5.6% to 28 cents, leaving the company with a market cap of $17.3 million, based on 61.7 million shares outstanding. The 52-week range is 69 cents and 20 cents.
In an interview, Cooper said the higher oil price is prompting some debt-laden companies to raise cash by putting properties up for sale. He said that should spell opportunities for companies like Aroway, which is on the hunt for acquisitions in the conventional oil space.
“We are looking at conventional acquisitions, all oil,’’ said Cooper, adding that the junior’s strategy is to build on existing production and cash flow, while reducing operating costs.
“We are on pace to exit our first quarter with about $3.6 million in revenue,which would be the best we have ever done in a quarter,’’ he said. By November the company expects to have only $2.3 million of debt on its balance sheet.
Aroway has large development plans in Kirkpatrick Lake [Alberta] and West Hazel [Saskatchewan], which are currently in production.
After securing regulatory approval to install a new water disposal well, the company is hoping to double the production rate at West Hazel to 600 barrels per day.
Cooper recently told Stockhouse that he is targeting up to 1,300 barrels per day of production by the end of 2013. That’s up from 1,000 barrels per day in March 2013.
Chinook Energy Inc. (CKE)
Bargain price identified for an oil/gas stock this summer in the Globe's business section.
With the price of oil high and possibly going higher this fall,
Chinook Energy would be one I'd like to be holding:
The Globe and Mail attempts to identify deep value stocks in Canada that also have reasonably strong balance sheets in its Friday, Aug. 9, edition. The Globe's Ian McGugan writes in the Number Cruncher column that these stocks are trading at what appear to be bargain prices and also have enough liquid assets to meet their immediate needs. Mr. McGugan says that might make them attractive to investors who do not mind the risk involved in bottom fishing. Mr. McGugan only considered stocks with a market capitalization greater than $100-million. His picks had to have a share-price-to-tangible-book-value ratio no greater than one. Tangible book value excludes goodwill and other intangible assets. His picks needed to have consensus earnings-per-share estimate revisions over the past 90 days that were positive or unchanged. This ensures that analysts are not predicting an immediate decline in profits. Mr. McGugan's stock picks should be approached with interests, but also with caution. He says companies that are trading below their tangible book values are often cheap for good reasons. Value stocks with strong balance sheets are Teranga Gold, Chinook Energy, New Millennium Iron, Guyana Goldfields and UEX.
Sonoro Energy (SNV) goes from 1.5c to 3c for a double in one trading session
if it's exploration licence in Iraq is deemed valid...imo
http://stockwrestler2.blogspot.ca/
AOS broke out Friday:
http://www.stockhouse.com/companies/bullboard/aosdf/alberta-oilsands-inc?postid=21634655
s/b a lot more upside this week.
glta