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Ah yes! Bobby-the-Dipshit is back and inundating all CMKX longs with his filthy sewage once again.
Gee whiz, too bad the son-of-a-bitch is owned by the hedgies. Quite possibly he will someday pull his head OUTOFHISASS (my new coined term for him...) but I wouldn't wager on it.
Goood nite Bobby! Sweet dreams.
Yep. This place has pretty much become a waste of time....not to mention iHub bandwidth.....since you left. I swing-by only for amusement nowadays.
Most of the old (decent) board members have moved-on (or have been pushed-on!) to other boards till your new venue comes alive.
If the Ihub folks were smart they would just shut this board down and save some resources. I guess they figure they'll string-it-out for all it's worth! What a shame.
Bingo!
Just trying to keep the peace Mach ;)! Hope all is well with ya'!
Edit: To start up a site like this one, you're looking at about $50k for hardware, operating systems, and software (SQL Server, Oracle, whatever), then about $250k for a consultant to write the system and several months for him to get it done.
Bob Bumblefart - You just successfully proved to me you don't know a fraction of the crap you pump. Ever heard of Asia?
Have a delightful evening,
P
Thanks for the well-wishing faster.
No, Didn't get caught-up in any hype. Anyone who can perform a reasonable amount of dd can easily get past the hype of any pumpers.
Back to my point, though. Something is seriously missing from a life when the individual feels a compulsive necessity to continuously post negative, ill-intended content towards nothing more than a silly ol' stock.
It's one thing to speak your piece and be done with it; but it's quite a different story to continuously pound your opinion into the ground without merit. That sort of disorder deserves the attention of a shrink.
Have a good evening,
P
As Drillbit elluded to....
You people just make me very, very sad for you. GL & GB.
P
Thanks for the charts/news Joye!
Some of us here still appreciate them. At least until Mach gets his new board up and running.
Have a good day!
P
I can picture it now.....
She's leaning slightly to her left and scratching her a$$ with her mouse while muttering, "Is it or isn't it?"
I'm curious if she loses complete feeling in her a$$, or just partial loss ("pins & needles"), while spending every waking minute on these boards trying to save all of us longs?
Ha! Nice one! Good eve.
Best,
P
VERY! I'd say Mach (and any sane human being) would be utterly disgusted.
Good evening.
Best,
P
JB,
I don't know how anyone can stand to read all of that crap by LW! Talk about a long-winded sob! Short on ears and long on mouth!
Hope all is well?
BR,
P
Matt,
I sure do wish you could keep a lid on bungfred and ol' captain dipsh*t? The clutter and belligerence they perpetrate to this board since Mach left is virtually intolerable.
I just hate to see a firm such as ihub lose MANY EXISTING AND PROSPECTIVE, PAYING CUSTOMERS due to the failure to properly 'parent' those individuals who excrete immaturity, ignorance, and ill-will towards those who wish to share information.
PLEASE SHOW US ALL THAT IHUB HAS BETTER INTENTIONS THAN TO BE THE MOUTHPIECE OF THE IRRECONCILABLE AND OBTUSE?
TIA and have a great eve,
P
Thanks again Bo.
I hope you had a very pleasant, relaxing eve with friends and our good buddy Mich Ultra? Thanks for taking the time to respond as I agree with everything you said.
I also would sure like to sit-down with Mahue for an hour! Maybe over a Mich.....or whatever he has in-mind. I'd wager martini or manhatten.
Good evening and best of luck always,
P
Thanks Bo!
Go out and have yourself a dandy time tonight! I agree with what you said.
One last thought to mull over.....
With the retirement of the 75B on the Nevada Minerals deal, and again a MAX total O/S of 800B, 97B-75B(retired) gives us 22B for a retail float. Of course we need to factor in those who pulled certs and are not considered insiders, but all-in-all, I'd bet (if I had any money left to bet with! ;) the float comes in under 30B, and possibly under 25B.
MM should be sh**ting their pants about now.
Just my guess at this point.
P
Exactly correct Bo.
After reading this a few times, they might be actually hinting as to what the "retail" float actually is!
Let me know what you think about this....
We know the AS is maximum 800B. we now know the O/S EXCLUDING SHARES HELD IN STREET NAME (this being the key component!) is 703B.
This leaves 97B shares MAXIMUM which could be held in street name. And wouldn't all retail level shares be held in street name? I know my Ameritrade shares are in "street name." I believe all retail level shares should be in street name minus those retail investors who requested certs.
In this case they would most likely fall under the 2,000+ known shareholders.
Thoughts?
P
Drill - You must be physic or something! Nice call!
Those are only shareholders of record. Most retail investors shares are held in street name. Meaning they are not part of the 2,000.
You're right, it is strange, though! Sure would like to know the float!
About the only thing I'd bet on at this point.....
......is that when Mach gets back to the board, the number of "bans" increases by a handful.
There's some really stupid sounding s**t coming from some of our new bashers....er....I mean members. I reckon I'm now a smidgen dumber for having read them.
Special thanks to the Original moron, Butt-on-the-beach, Raconowar (or whatever the h*ll you name is,) and ricksgay6. Your motives are all shockingly obvious, and I only hope y'all get your just deserves and rot in the same hole when the CMKX trilogy comes to an end - be it good or bad for the longs.
To he bashers just remember this....."it ain't the fall that kills ya', but it's that sudden stop at the end."
End = 3/17/05 IMO.
Nite all.
P
Thanks Matrix!
I forgot that Spellicy had those 3 points on shore.
Best,
P
Is anyone else curious how AZTM got a 3% stake in Shore Gold's profits? I certainly am.
I didn't see anywhere in their PR where they stated they had pledged cash or stock....only that Shore could buy their 3% out for US$1 MM.
If anyone knows more about the details, please pass them on.
TIA,
P
TMARQ - Could be a good play tomorrow am
I haven't been in TMARQ since the middle of last year, but with the release of this PR:
http://biz.yahoo.com/prnews/050221/dam027_1.html
...might cause it to gap-up quite nicely at the open. Just one to keep an eye on.
Regards,
P
Mach - Just want to say "nice work!" and "thanks!"...
Whichever path you choose regarding the board, you'll have myself and plenty of others along with you.
Best,
P
TFN - Yep, I'd imagine you could still double your money on SPEA.
Just wish I was in it early when Bo called it. Oh well, at least we've got CMKX.
Have a good one,
P
Holy Sh#t and Halleluiah! Thanks Mach!
Darn glad I wasn't on the receiving-end of that a$$ chewing!
On another note, for all of the SPEA holders....looks like Lisa Marie is making-out alright:
http://www.sec.gov/Archives/edgar/data/1318016/000091142005000102/xslF345X02/p1027695_ex.xml
Hopefully someday soon we'll see numbers like these under the name Urban Casavant.
Good evening,
P
Thank you sir!
DB - That's also my question?
Mach - Did Urban return the phonecall yet? Whether or not Glenn and E&A is still their primary legal team would be a gooood question to ask him!
BTW - Thanks for the emails!
P
Drillbit - I'm with ya' there
She certainly was a piece of work, altho' if brains were dynamite, I'm not sure she would have enough to blow her nose.
I doubt the BOD would want an, "assulting an officer" present for the meetings?.....but then again who knows?!
P
Nah.....It won't be SpongeBob.
I'm putting my money on Liz Taylor. Not only would that place an 'expert' diamond consumer on the BOD, but it would also bode well for UC and co by putting a female on the BOD.
P
Proactive stance on reg SHO - NMKT
Newmarket Technology Inc (NMKT) just PR'd the following shareholder letter. Seems some SHO-listers are grabbing the bull-by-the-horns....
NewMarket Releases Shareholder Letter Regarding the First Month of Trading Under SEC Regulation SHO
DALLAS
NewMarket Technology, Inc.
Rick Lutz, 404-261-1196
ir@ipvoice.com
www.newmarkettechnology.com
www.ipvoice.com
UBS Capital Markets, Formerly Schwab Capital Markets, Largest Market Maker by Share Volume in NewMarket Technology Inc.
NewMarket Technology Inc. (OTCBB:NMKT) released a letter today to shareholders addressing the new SEC Regulation SHO. The letter is included in this press release.
Dear Fellow Shareholders,
The first month under Regulation SHO has just closed. This correspondence is in response to the numerous inquiries recently from shareholders regarding Regulation SHO as it might apply to NewMarket. Management is encouraged by the potential of Regulation SHO to limit trading volatility from irregular, excessive and improperly documented short sales and we have taken extra measures to contribute to the intent of Regulation SHO. Supervision of the new compliance requirements under Regulation SHO is a large undertaking for an already burdened SEC. We anticipate the market wide impact on irregular and excessive short sales to take a considerable amount of time. Accordingly, NewMarket has undertaken a pro-active effort to communicate with market participants active in the trading of NewMarket shares in regard to trading activity that could indicate potential violations of the new Regulation SHO.
Short selling itself is not illegal. However, the regulations associated with short selling are very specific. A short sale is the sale of a borrowed security. The new Regulation SHO clearly requires that the existence of the borrowed stock be documented prior to the execution of a short sale. Regulation SHO states, "The locate must be made and documented prior to effecting a short sale, regardless of whether the seller's short position may be closed out by purchasing securities in the same day."
Market makers are exempt from the uniform "locate" requirement in order to support a fluid trading environment. The broker dealer executing the order bears the "locate" responsibility. Market makers that are also broker dealers will be required to comply with the "locate" requirement as it applies to their broker dealer activity. Market makers are only exempt as it applies to bona-fide market making. If a market maker posts continually at or near the best offer, but does not also post at or near the best bid, the market maker loses the "locate" exemption.
In the interests of shareholders, NewMarket has initiated an effort to monitor daily trading. When a market maker's posted sales appear disproportionate with their posted purchases, we now initiate a written communication to the market maker to bring their attention to the potential of a "locate" violation. This is not a communication to direct or insinuate wrongdoing. On the contrary, our intention is to cooperate with market makers in an effort manage an efficient market in compliance with Regulation SHO. We recognize the fast-paced environment of the trading activity and we further recognize how in such an environment a market maker might be an unknowing conduit for short sales out of compliance with the new "locate" regulation.
In the last month we have sent correspondences to numerous market makers in regard to potential "locate" violations. We have sent several correspondences to the top four most active market makers by share volume. All market makers contacted, with the exception of UBS Capital Markets (SCHB), formerly know as Schwab Capital Markets, have responded. UBS Capital Markets was the largest market maker by volume in January at 32% of the 15 million shares traded. UBS Capital Markets has been the largest market maker in NewMarket stock by volume for the last three months. We recognize that UBS is one of the most active market makers in micro-cap trading and NewMarket is just one of many issues it trades, but we will continue in our communications to facilitate our genuine and sincere efforts to cooperate with the intent of Regulation SHO.
We will continue in our efforts to proactively support an efficient market and we will likewise continue to communicate with shareholders in our ongoing efforts.
Best Regards
Philip Verges
CEO and Chairman
NewMarket Technology Inc
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
In 2002, NewMarket launched a business plan to continuously introduce emerging communication technologies to market. The plan included a financing model for early technologies and an approach to creating economies of scale through a specialized service and support organization intended specifically for the emerging technology industry. The Company posted six consecutive profitable quarters through 2003 and established an annualized $15 million in revenue. In 2004, the Company diversified its communications technology offering into the healthcare and homeland security industries with the respective acquisitions of Medical Office Software Inc. and Digital Computer Integration Corp (DCI). The Company has expanded sales into Asia, Latin America and Canada through the acquisitions of Infotel Technologies in Singapore, RKM IT Solutions of Caracas, Venezuela, and Logicorp respectively. The company recently announced its first spinoff with the acquisition by Defense Technology Systems (OTCBB:DFTS) of NewMarket's Homeland Security subsidiary, DCI, for stock. NewMarket shareholders will receive a property dividend in the form of DFTS stock at a later date.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
TLTD...Telatinos Inc. Cancels 4:1 Forward Split In Favor Of A Stock Dividend
Not sure if everyone saw this this morning?
*****
http://biz.yahoo.com/pz/050128/71663.html
Press Release Source: Telatinos, Inc.
Telatinos Inc. Cancels 4:1 Forward Split In Favor Of A Stock Dividend
Friday January 28, 9:00 am ET
MIAMI, Jan. 28, 2005 (PRIMEZONE) -- Telatinos Inc. (Pink Sheets:TLTD), a Latin American IP-based VoIP service provider, today announced that the Company has declared its previously announced 4:1 forward split of the Company's common stock as cancelled.
ADVERTISEMENT
The Company will issue a stock dividend in the form of a 6: 5 forward split. The Record Date is to be set and announced shortly. Every shareholder of record will receive six shares for each five shares held as of the close of business on the effective date.
About IPxes Inc.
IPxes, a wholly owned subsidiary of Telatinos Inc., is a business class, highly scalable communications service that provides broadband data, voice and wireless service using multiple integrated T-1 lines with a layer-2 private network. Our proprietary technology and integration provides our SME customers with dedicated Internet access, customizable business solutions for voice, data, wireless, Internet, and secure communications channels between the SMEs' offices, all partners, vendors, customers and employees without the use of a firewall or encryption devices. IPxes has a growing network presence in South America, including network facilities in Brazil, Peru, Colombia, Costa Rica, and Miami, Florida.
IPxes' proprietary technology, XRF link(r), remote network locations may be connected through IPxes' network enabling secure and direct transfer of communication, documents, databases, and virtually any other information between a client's headquarters and their remote locations. Each location is provided with dedicated access and extended services resulting in maximum efficiency. The XRF link solution allows data to be delivered at the fastest and most efficient speeds available today. In addition, unlike traditional encryption-based virtual private network technologies, XRF link avoids the use of the public internet for transferring secured information between locations. Secured information travels on a private network. IPxes clients experience the highest level of speed, security and efficiency.
About Telatinos Inc.
Telatinos is an emerging Latin American ISP and communications service provider offering full-featured, cost-effective, high-quality local, long distance and international telephone services -- including 911 and E911 -- to both businesses and private residences in Latin America.
Learn more about our Company at http://www.telatinos.com.
Forward-Looking Statement
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the VOIP industry and Latin America; in the geopolitical environment; overall information technology spending; the growth of the Internet; levels of capital spending on Internet-based systems and other risk factors. Telatinos results of operations are not necessarily indicative of Telatinos operating results for any future periods.
Contact:
Public and Investor Relations
MACREPORT
(631) 393-5136
--------------------------------------------------------------------------------
Source: Telatinos, Inc.
USCA back on the "supplemental" SHO list
http://www.nasdaqtrader.com/trader/tradingdata/regsho/regshoad012605.txt
Now I'm convinced the NAS doesn't know what the heck they're doing with respect to regulation SHO. They have OTC companies on both their "standard" and "supplemental/addendum" SHO lists.
Now I'm curious what dictates which list an OTCBB/PS company may fall on? GEMM's on the main list and USCA is on the addendum list.
Sure wish us Americans could trade North Atlantic tomorrow morn...heads-up for the Canucks!
Press Release Source: Lundin Mining Corporation
Lundin Mining Makes a Public Offer for North Atlantic Natural Resources
Friday January 21, 9:01 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 21, 2005) - Lundin Mining Corporation (TSX:LUN - News; Stockholmsborsen:LUMI)
ADVERTISEMENT
Not for release, publication or distribution in or into Australia, Japan or the United States. The Offer is not aimed at persons whose participation requires further prospectuses, registration measures or similar measures other than those that follow Swedish law and therefore is not being made to persons in any such jurisdictions including Australia, Canada, Japan or the United States.
Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce a public offer for all outstanding shares in North Atlantic Natural Resources AB (publ) ("NAN").
- On December 30, 2004, Lundin Mining acquired 11,537,000 shares in NAN from Boliden Mineral AB ("Boliden"), corresponding to 36.9 percent of the shares and votes. The consideration amounted to 2,176,800 newly issued shares in Lundin Mining.
- Following the acquisition of Boliden's shares, Lundin Mining holds a total of 23,117,000 shares in NAN, corresponding to 74.0 percent of shares and votes.
- To acquire all outstanding shares in NAN, one newly issued Lundin Mining share is offered for each 5,3 shares of NAN (the "Share alternative"), on similar terms as for the acquisition of NAN shares from Boliden.
- In accordance with the Swedish Industry and Commerce Stock Exchange Committee's (Naringslivets Borskommitte (NBK)) rules on mandatory offers, a cash compensation alternative of SEK 10.75 per share of NAN is also offered (the "Cash alternative").
A brief description of NAN's key assets
The main asset of NAN is the Storliden copper/zinc mine in the Skellefte mining district in Vasterbotten. The Storliden mine was discovered in 1998 and put in production in 2002. During 2003, more than 333,000 tonnes of ore from Storliden was treated at the mill in the town of Boliden some 90 kilometres from the mine. On average, the ore from Storliden is grading 9.8 percent zinc and 3.5 percent copper as well as 0.3 grams per tonne gold and 25.4 grams per tonne silver. As of January 1, 2004, the Proved and Probable Ore Reserves at the Storliden mine were 1,108,000 tonnes.
The Storliden deposit has been developed pursuant to a joint venture agreement between NAN and Boliden whereby Boliden, among other things, is acting as main contractor and operator. Pursuant to the acquisition agreement, under which Lundin Mining acquired Boliden's shares in NAN, Boliden has guaranteed the availability of the Boliden mill/concentrator, throughout the life of the Storliden mine. In addition, Boliden's right of first refusal to acquire any base metal deposit found by NAN was terminated.
In addition to Storliden, NAN holds exploration permits covering several areas in and around the Skellefte mining district. During the fall of 2004, NAN initiated an exploration programme focusing on several prospective targets. Drilling in the immediate area surrounding the Storliden mine is aimed at extending the life of the mine. Immediately south of the Skellefte mining district is the Lappvattnet copper-nickel prospect within a prolific mineralized area known as the "Nickel Belt". A further area being explored during the coming months is Copperstone, a copper project in the northern part of the Skellefte district.
Background and reasons
On December 30, 2004, Lundin Mining acquired 11,537,000 shares in NAN from Boliden, bringing Lundin Mining's total holding of NAN shares to 23,117,000, corresponding to 74.0 percent of shares and votes. The acquisition resulted in Lundin Mining becoming subject to the rules for mandatory offers.
The acquisition of Boliden's shares, in combination with this public offer for all outstanding shares of NAN (the Share alternative and the Cash alternative together referred to as the "Offer") reflect the view of the board of directors of Lundin Mining that the two companies joined together would form a leading mid-tier base metals producer in Europe, with a strong and well balanced portfolio of high-quality, low cost mining operations and exploration assets in highly prospective areas.
The incorporation of NAN into Lundin Mining, will result in a company with strong cash flow from operations (the Zinkgruvan mine and the Storliden mine) facilitating continued aggressive exploration in and around the Skellefte district, the Bergslagen district and the Norrbotten mining district of northern Sweden, as well as in other potential areas of interest.
Lundin Mining has a very strong cash position, partly as a result of the agreement with Silver Wheaton which closed on December 8, 2004. The agreement calls for Silver Wheaton to buy 40 million ounces of silver from Zinkgruvan over a period of 25 years for a total consideration of USD 80 million + USD 3.90/oz silver.
Through the Offer the present shareholders of NAN will be given the opportunity for continued exposure to NAN's exploration assets, while benefiting from Lundin Mining's world class mining asset (the Zinkgruvan mine), several additional exploration assets and strong cash flow from operations. With a strong cash position and having no long term debt, Lundin Mining is in the process of evaluating further major acquisitions.
The acquisition of NAN will bring a proven exploration team and a team of experienced mining employees together in Lundin Mining. The combined team will be able to continue the previously successful exploration and development efforts of both NAN and Lundin Mining in the financially strong and growth-oriented Lundin Mining.
It is the opinion of the Board of Directors of Lundin Mining that the combination of the two companies will further strengthen the shareholder base of Lundin Mining, thus offering the shareholders of NAN to become shareholders in a larger entity with better stock market liquidity.
The Offer
The Board of Directors of Lundin Mining decided to make a public offer today to the shareholders of NAN to acquire all outstanding shares in NAN. Lundin Mining currently holds 23,117,000 shares, corresponding to 74.0 percent of the shares and votes.
For all outstanding shares in NAN, Lundin Mining offers either one (1) newly issued share in Lundin Mining for every 5.3 shares in NAN, or SEK 10.75 per NAN share. The Cash alternative is based on the last price paid for Lundin Mining's Swedish Depository Receipts ("SDR") of SEK 57.00 prior to the trading halt on December 30, 2004.
Consideration in shares will be delivered in the form of SDRs, listed on the O-list at Stockholmsborsen. Each SDR represents one share in Lundin Mining.
Fractions of shares in Lundin Mining will not be issued. To the extent shareholders in NAN are entitled to fractions of shares, these fractions will be combined and in the form of SDRs in Lundin Mining sold on a best effort basis on Stockholmsborsen on behalf of NAN shareholders and the proceeds will be distributed to the NAN shareholders so entitled. Further information will be included in the forthcoming prospectus.
Commission will not be charged for NAN shares submitted in response to the Offer.
The Swedish Industry and Commerce Stock Exchange Committee's (Naringslivets Borskommitte (NBK)) rules governing public offers regarding share acquisitions and the Securities Council's (Aktiemarknadsnamnden) information regarding interpretation and application of the rules apply to the Offer.
Conditions to the Offer
The Offer is subject to requisite regulatory approvals in Canada and Sweden.
Offer premium
Based on the last price paid on the O-list at Stockholmsborsen for Lundin Mining's SDRs and NAN's shares prior to the trading halt on December 30, 2004, of SEK 57.00 and SEK 12.30, respectively, the Offer corresponds to a negative premium of 12.6 percent.
Based on the average price paid on the O-list at Stockholmsborsen for Lundin Mining's SDRs and NAN's shares during the most recent 30 trading days up to the day prior to the acquisition from Boliden, December 29, 2004, of SEK 57.07 and SEK 12.03, respectively, the Share alternative corresponds to a negative premium of 10.5 percent and the Cash alternative to a negative premium of 10.6 percent.
Offer value
At full acceptance of the Offer through the Share alternative, approximately 1,532,775 new shares, in the form of SDRs, in Lundin Mining will be issued, which means that shareholders in NAN in total receive 4.4 percent of shares and votes in Lundin Mining and at full acceptance through the Cash alternative a total cash compensation of SEK 87.3 million will be paid to NAN's shareholders.
Financing
Financing of the Offer will be made through the issuance of Lundin Mining shares in exchange for NAN shares and through the Company's cash holdings. The issuance of shares is authorised by the Board of Directors of Lundin Mining.
Identity of and other information
The Offer is made through Lundin Mining Corporation, a Canadian company with corporate registration number 306723-8. The Company's registered office is located in Vancouver, British Columbia, Canada. The Lundin Mining shares are listed on the Toronto Stock Exchange (trading symbol: "LUN") and in the form of SDRs on the O-list at Stockholmsborsen (trading symbol: "LUMI).
Lundin Mining's President, Edward F. Posey, serves as President of NAN and the Company's Executive VP Operations, Karl-Axel Waplan, serves as deputy board member of NAN. The Chairman of the Board of Directors of Lundin Mining, Lukas H. Lundin, serves as a board member of NAN.
Time schedule
It is estimated that an offer prospectus will be distributed to the shareholders of NAN on or about February 11, 2005. The acceptance period for the Offer is expected to extend from February 14 through March 4, 2005. It is estimated that the accounting for payment to those shareholders that have accepted the Offer will commence on or about March 14, 2005. Lundin Mining reserves the right to extend the acceptance period.
Advisor
E. Ohman J:or Fondkommission AB is Lundin Mining's financial advisor in connection with the Offer.
Financial information
The pro forma financial information presented below is indicative and may be subject to changes. The pro forma financial information does not take into account, among other things, potential synergies, restructuring costs or transaction costs.
Comments to the pro forma financial information for the twelve months ended December 31, 2003
a) Pro forma financial statements as at December 31, 2003, are prepared in respect of a holding of 74 percent of the shares in NAN as at January 1, 2003 in the income statement and as at December 31, 2003 in the balance sheet, and are recalculated from SEK to CAD using a conversion rate of 0.1734 in the income statement and 0.1796 in the balance sheet..
b) The financials for Lundin Mining are based on pro forma as if the acquisition of North Mining Svenska AB ("NMS") was made as at January 1, 2003 in the income statement and as at December 31, 2003 in the balance sheet,
c) The financials for NAN are actual.
Lundin Mining Pro forma
Pro forma NAN NAN consolidated
Twelve Twelve Twelve Twelve
months months months months
ended ended ended ended
Dec 31, Dec 31, Dec 31, Dec 31,
2003 2003 2003 2003
CAD SEK CAD Adjustment CAD
Million(b) Million(c) Million Pro forma Million(a)
-----------------------------------------------------
Sales 63.4 276.8 48.0 111.4
Cost of sales -60.4 -198.2 -34.4 -5.6 -100.4
-----------------------------------------------------
Gross margin 3.0 78.6 13.6 -5.6 11.0
-----------------------------------------------------
Expenses
Administrative
expenses -6.3 -8.5 -1.5 -7.8
General
exploration
and project
investigation -1.4 -11.0 -1.9 -3.3
Other income
(expenses) -0.2 1.6 0.3 0.1
-----------------------------------------------------
-7.9 -17.9 -3.1 -11.0
-----------------------------------------------------
Income before
undernoted -4.9 60.7 10.5 -5.6 0.0
Equity in income
of significantly
influenced
investee 2.9 - - -2.9 0.0
-----------------------------------------------------
Income before
income taxes -2.0 60.7 10.5 -8.5 0.0
Future income
tax expense -0.1 -17.0 -2.9 1.6 -1.5
Minority interest - - - -2.0 -2.0
-----------------------------------------------------
Net income for
the period -2.1 43.7 7.6 -8.9 -3.4
-----------------------------------------------------
-----------------------------------------------------
Balance sheet
ASSETS
Current assets
Cash 13.1 1.0 0.2 13.3
Accounts
receivable 7.7 1.0 0.2 7.9
Inventories 6.9 5.2 0.9 7.8
Loan receivable
from NAN 0.9 - - 0.9 -
Prepaid expenses 0.2 23.6 4.2 4.4
Other short term
receivables 1.3 0.3 0.1 - 1.4
-----------------------------------------------------
30.1 31.1 5.6 -0.9 34.8
Long-term
receivables 0.7 - - 0.7
Shares in NAN 22.0 - - -22.0 -
Investment in NAN 8.5 - - -8.5 -
Properties, plant
and equipment
Mining properties 177.5 110.5 19.8 17.4 214.7
Machinery and
other technical
equipment 21.9 0.3 0.1 22.0
Future income
tax assets 3.9 22.1 4.0 7.9
-----------------------------------------------------
234.5 132.9 23.9 -13.2 245.2
-----------------------------------------------------
264.6 164.0 29.5 -14.1 280.0
-----------------------------------------------------
-----------------------------------------------------
LIABILITIES
Current liabilities
Accounts payable
and other accrued
liabilities 3.5 2.0 0.4 3.9
Accrued expenses 4.4 8.9 1.6 6.0
Due to related
parties 1.0 26.7 4.8 -2.6 3.2
Other current
liabilities 1.3 2.1 0.4 1.7
-----------------------------------------------------
10.2 39.7 7.1 14.7
Long term
liabilities
Provisions
for pensions 16.3 - - 16.3
Other provisions 13.1 1.0 0.2 13.3
Future income tax
liabilities 41.9 - - 4.9 46.8
-----------------------------------------------------
71.3 1.0 0.2 4.9 76.3
-----------------------------------------------------
SHAREHOLDERS'
EQUITY 183.1 123.3 22.1 -22.1 183.1
Minority interest - - - 5.8 5.8
-----------------------------------------------------
183.1 123.3 22.1 -16.3 188.9
-----------------------------------------------------
264.6 164.0 29.5 -11.5 280.0
-----------------------------------------------------
-----------------------------------------------------
Lundin
Mining
Twelve
months
ended Pro forma
Key financial Dec 31, consolidated
data 2003 Dec 31, 2003
-----------------------------------------------------
Number of shares
at end of
period fully
diluted 31,260,257 33,437,057
Weighted average
number of
shares at end
of period fully
diluted 28,204,807 30,381,607
Shareholders's
equity per share
fully diluted,
CAD 5.86 5.48
Income per share
fully diluted,
CAD -0.07 -0.11
Equity ratio 69% 65%
Comments to the pro forma financial information for the nine months ended September 30, 2004
a) Interim pro forma financial statements as per September 30, 2004 are prepared in respect of a holding of 74 percent of the shares in NAN as of January 1, 2004 in the income statement and as at September 30, 2004 in the balance sheet, and are recalculated from SEK to CAD using an average conversion rate of 0.1777 in the income statement and 0.1727 in the balance sheet.
b) The financials for Lundin Mining are based on pro forma as the acquisition of NMS was made as per January 1, 2004 in the income statement and per September 30, 2004 in the balance sheet.
c) The financials for NAN are actual.
Lundin Mining Pro forma
Pro forma NAN NAN consolidated
Nine Nine Nine Nine
months months months months
ended ended ended ended
Sep 30, Sep 30, Sep 30, Sep 30,
2004 2004 2004 2004
CAD SEK CAD Adjustment CAD
Million(b) Million(c) Million Pro forma Million(a)
-----------------------------------------------------
Sales 62.8 183.8 32.7 95.5
Cost of sales -47.4 -130.0 -23.1 -4.3 -74.8
-----------------------------------------------------
Gross margin 15.4 53.8 9.6 -4.3 20.7
-----------------------------------------------------
Expenses
Administrative
expenses -5.6 -19.7 -3.5 -9.1
General
exploration
and project
investigation -3.8 -9.6 -1.7 -5.5
Other income
(expenses) 1.8 3.8 0.7 2.5
-----------------------------------------------------
-7.6 -25.5 -4.5 -12.1
-----------------------------------------------------
Income before
undernoted 7.8 28.3 5.0 -4.3 8.5
Gain on sale of
investment in NAN 0.9 - 0.9
Equity in income
of significantly
influenced
investee 1.4 - -1.4 -
-----------------------------------------------------
Income before
income taxes 10.1 28.3 5.0 -5.7 9.4
Future income
tax expense -3.0 -7.9 -1.4 1.2 -3.2
Minority interest -0.9 -0.9
-----------------------------------------------------
Net income for
the period 7.1 20.4 3.6 -5.4 5.3
-----------------------------------------------------
-----------------------------------------------------
Balance sheet
ASSETS
Current assets
Cash 32.4 18.9 3.3 35.7
Accounts
receivable 7.8 1.3 0.2 8.0
Inventories 5.6 3.2 0.6 6.2
Prepaid expenses 0.3 25.7 4.4 4.7
Other short term
receivables - 3.2 0.6 0.6
-----------------------------------------------------
46.1 52.3 9.0 55.1
Long-term
receivables 0.7 - - 0.7
Shares in NAN 21.2 - - -21.2 -
Investment in NAN 9.3 - - -9.3 -
Properties, plant
and equipment
Mining properties 175.7 92.5 16.0 16.7 208.4
Machinery and
other technical
equipment 19.6 0.8 0.1 19.7
Future income
tax assets 3.7 14.1 2.4 6.1
-----------------------------------------------------
230.2 107.4 18.5 -13.8 235.0
-----------------------------------------------------
276.3 159.7 27.6 -13.8 290.1
-----------------------------------------------------
-----------------------------------------------------
LIABILITIES
Current liabilities
Accounts payable
and other accrued
liabilities 4.9 7.5 1.3 6.2
Accrued expenses 4.5 3.6 0.6 5.1
Due to related
parties 0.1 - - -0.1 0.0
Other current
liabilities 4.0 3.1 0.5 4.5
-----------------------------------------------------
13.5 14.2 2.5 -0.1 15.8
Long term
liabilities
Capital lease
obligations 0.7 - - 0.7
Provisions for
pensions 15.0 - - 15.0
Other provisions 12.9 1.8 0.3 13.2
Future income
tax liabilities 38.5 - - 4.7 43.2
-----------------------------------------------------
67.1 1.8 0.3 4.7 72.1
-----------------------------------------------------
SHAREHOLDERS'
EQUITY 195.7 143.7 24.8 -24.8 195.7
Minority interest - - - 6.5 6.5
-----------------------------------------------------
195.7 143.7 24.8 -18.4 202.2
-----------------------------------------------------
276.3 159.7 27.6 -13.8 290.1
-----------------------------------------------------
-----------------------------------------------------
Lundin
Mining
Nine months
ended Pro forma
Key financial Sep 30, consolidated
data 2004 Sep 30, 2004
-----------------------------------------------------
Number of shares
at end of
period fully
diluted 31,547,471 33,724,271
Weighted average
number of
shares at end
of period fully
diluted 31,478,714 33,655,514
Shareholders's
equity per share
fully diluted,
CAD 6.20 5.80
Income per share
fully diluted,
CAD 0.23 0.16
Equity ratio 71% 67%
Conference call
A conference call with respect to the Offer has been scheduled for Monday, January 24, 2005 at 16:00 CET (10:00 a.m. Toronto time). Please call in 5 minutes before the conference starts and stay on the line (an operator will be available to assist you).
Call-in number for the conference call: +46 (0)8 505 201 14
A replay of the telephone conference will be available approximately one hour after the completion of the conference and until January 31, 2005. Replay number is: +46 (0)8 505 20 333. To access the recording, please enter access code 642021.
A recording of the conference will also be available for download at www.lundinmining.com approximately one hour after the conference has ended.
Lundin Mining is a Canadian mining and exploration company with a primary focus in Scandinavia. The main asset of the company is the Zinkgruvan mine, located about 200 kilometers southwest of Stockholm, Sweden. The mine has been producing zinc, lead and silver on a continuous basis since 1857. Zinkgruvan has consistently ranked in the lowest cost quartile among zinc mines in the world. Lundin Mining holds 74 percent of the shares of NAN, a mining and exploration company listed on the Stockholm Stock Exchange under the ticker symbol NAN. NAN's primary asset is the Storliden copper and zinc mine in the Skellefte District of northern Sweden, which has been in production since 2002. Lundin Mining also holds a large copper/gold exploration project in the prolific Norrbotten Mining District in northern Sweden.
ON BEHALF OF THE BOARD
LUKAS H. LUNDIN, Chairman
--------------------------------------------------------------------------------
Contact:
Lundin Mining Corporation
Lukas H. Lundin
Chairman
Phone: (604) 689 7842
or
Lundin Mining Corporation
Karl-Axel Waplan
Executive Vice President Operations
Phone: +46 (0) 8 545 074 73
Website: www.lundinmining.com
--------------------------------------------------------------------------------
Source: Lundin Mining Corporation
2006_honest_investor.....
After reading your posts, I am left with but one conclusion.....
You NEED to find something better to do with your time rather than come to this forum and bash stocks.
Just a thought here......but just maybe those hollowpoints you were discussing in your earlier posts would best be used in a self-inflicted matter? Definitely something you should consider.
Congrats! You made my iggy list! Adios.
P
Thanks TigerCat.
I guess that explains why Ameritrade is taking the position that this second GEMM divy doesn't exist. They've already told me in the past that they do not rely on PR's as they feel they are subjective.
GEMM Dividend - Ameritrade response
Is anyone else receiving a similar reply from their broker regarding the second GEMM divy?
Thank you for contacting us today concerning a dividend for CMKX.
According to the information that we received from the company, there is no new dividend scheduled to be paid to shareholders of CMKX. The company changed the payable date for the GEMM shares from 11/15/2004 to 12/10/2004. Pursuant to the agreement with the company the shares were posted to client accounts on 11/15/2004 and instead of taking the position down when the payable date was changed we left it in the account. At this time we are not anticipating any additional dividend from the company.
If you have further concerns or inquiries, please reply to this message.
Sincerely,
Debra Williams
Apex Reorganization and Safekeeping, Ameritrade
Division of Ameritrade, Inc.
You too! eom.
All is quite well! Thanks for askin'. Glad to hear you're doing well also!
Yeah....seems he was aggravating some of the regulars and I just figured I'd speak-up and see if there was anything we could do about it?
Thanks a million for your help and all of your hard work in keeping this board in such great shape!
P
Mach, Hope all is well your way?!
Things seem to be looking-up for CMKX fro mwhat I'm reading. Aside, would it perhaps be possible to get our good friend Crysucks Pat out of the room?
He tends to add nothing to the discussions of other board members, and (per his last post) I do not believe he could locate ground to place a shiny new outhouse for his fellow sox fans.
JMO, but a confirmed basher he is; and here he doesn't belong.
Thanks and have yourself a great eve!
P
I'm with ya' on the CYA flavored popcorn!
Here is the email they sent me just prior to the original one I posted below. I'm smelling cover-up until CMKX or GEMM comes out with official word on this matter (a.k.a. a ratio or, dare I say, the CMKX O/S!)
Aside, I also sent them the links to BOTH PR's for the 2 GEMM dividends. They said they could not rely on PR's as they are subjective in nature. Geez!
Here's the email:
Thank you for contacting us today concerning CMKX and Juina Mining.
At this time, we have not received information confirming an additional distribution of Juina Mining shares to holders of CMKX. The distribution of restricted Juina Mining shares was credited to your account on 11/15/2004, the original distribution date. However, the distribution date was later amended to 11/29/2004. Since the rate of the distribution remained unchanged, and the fact that the shares were issued as restricted, the position remained as posted to your account pending the updated payable date. I apologize for any confusion regarding the matter.
If you have further concerns or inquiries, please reply to this message.
Sincerely,
Mike Gonzales
Apex Reorganization and Safekeeping, Ameritrade
Division of Ameritrade, Inc.
Ameritrade's response to the GEMM divi
Here's the email I received from them. Apparently they are choosing not to recognize the 2nd GEMM dividend yet. Has anyone received a different response from Ameritrade, or another broker?
"Thank you for contacting us today regarding CMKX and Juina Mining.
Ameritrade does not use press releases as a official source for information because they can be subjective.
Based on the information the transfer agent for CMKX and Juina Mining, there was only one distribution.
The transfer agent is First Global Stock Transfer:
(702) 656-4919
7341 W Charleston Blvd Ste 130
Las Vegas, NV 89117
Here is contact information to CMKX:
CMKM Diamonds Inc.
Diamonds Hotline:
Toll free in U.S./Canada: 877-752-3755
Melvin O'Neil,
Phone: 306-752-3755
Fax: 306-752-3754
Email: ipr@sasktel.net"
Dr.Pep:
Do you know whether you can trade currency thru the major online brokers? I have Ameritrade, but have never tried trading currency.
Thanks much,
P