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cl, did you discuss the financial statements with Rich at all? I know Bobwins recently had a discussion with Rich as well, but I was wondering if you got a feel for how confident he was with getting these taken care of ASAP? I've been following since American Stellar, and he's always hinted at getting off the pinks, but has yet to be able to do so. I understand how difficult it might be with all the recently acquired mining properties, etc., but I was certainly dismayed when I was in AMRS. In fact, I sold out at .06 simply because I had no faith in ever seeing financials. So many pinkies promise to get their financials in order, and so few do so.
That said, I'm really trying to be open-minded here and want to believe that we'll be off the pinks in the next few months. I'm so tempted to buy more if we see any dips below $1, but I'll probably hold off until I see some kind of tangible proof on the filing of paperwork.
What was your impression?
Just as you mentioned, Lionore just released their 2007 guidance this AM. They are guiding for 44,300 tonnes of payable Nickel in 2007, a 30% increase. Wow!
LionOre Issues Production Guidance for 2007
TORONTO, ONTARIO, Dec 07, 2006 (MARKET WIRE via COMTEX News Network) --
LionOre Mining International Ltd. ("LionOre"), (TSX: LIM)(ASX: LIM)(LSE: LOR)(BSE: LIONORE) today issues production guidance for 2007. All costs are in U.S. dollars.
Colin Steyn, President and CEO of LionOre, commented, "LionOre enters 2007 with solid production building blocks established during 2006. All our brownfield expansion projects have now been completed & commissioned and we will see the production benefits in 2007, with an estimated 30% increase in the group's production to a total of 44,300 tonnes of payable nickel.
Our operational focus will continue to be on reducing costs, as well as on brownfield exploration with a view to increasing the Life of Mine and resources at all of our operations; particularly in Australia. In addition to the recently announced senior management appointments, I believe LionOre is in a strong position to meet the targets in respect of operations and project execution in Australia and Africa.
At a corporate level, our objective of vertical integration remains key to the long-term sustainability and profitability of the group. Whilst we will explore different avenues of corporate growth opportunities to deliver vertical integration, we will also continue to seek additional opportunities to benefit from our Activox(R) technology. This may be to acquire additional nickel assets or seek to joint venture deposits amenable to Activox(R) processing."
Bobwins ~ Paramount (PGDP.ob) and Tara.
Based on your conversation with Rich and his outlook on Paramount's upcoming San Miguel drilling reports, have you considered looking at Paramount directly?
Obviously Tara is the much better play and gives us exposure/%interest to Paramount as well as many other properties. But, if Rich was that positive on the upcoming San Miguel results, might Paramount be a good opportunity for a short term hold?
I'm not invested in Paramount and am much more secure in my Tara holdings. But, the thought has crossed my mind...
It's nice getting spoiled every once in a while. I can really get used to 10% - 20% gains every day! BTW - I just saw that TRGD touched 1.21 a little earlier. WOW!
AUQ.V - Near Term Gold Producer just completed first gold pour.
Anyone have thoughts on this one? Although they are now producing gold bars, I don't believe the oz's are enough to significantly affect the current share price. It's trading now at .52CDN now. That said, I don't know enough about this Co. yet to make any kind of inference to future results/potential/etc. They do expect at minimum 20,000 - 30,000 oz's per yer in gold bar production for 2007 and 2008.
Aurogin Completes First Gold Pour From El Sastre Project
12/5/2006
TORONTO, ONTARIO, Dec 5, 2006 (CCNMatthews via COMTEX News Network) --
Aurogin Resources Ltd. ("Aurogin" or the "Company") (TSX VENTURE:AUQ) is pleased to report that it has poured its first bars of gold dore from the Company's 50%-owned El Sastre Main Zone gold mine in Guatemala. The gold bars, having a total weight of approximately 825 troy ounces (+95% gold content), were produced at a custom carbon stripping facility in the United States and are being shipped to Canada for refining and final determination of gold content. The Company does not have any forward sales contracts and intends to sell the gold in the open market.
The Company has developed the El Sastre Main Zone as an open pit (truck and shovel) heap leach operation using carbon columns for gold recovery. Leaching of the first lift (approximately 18,000 tonnes), which began on October 17 2006, is now complete and a second lift of new ore is being loaded. The Company's plans call for mining 300,000 tonnes of indicated resources grading 2.5 to 4.0 grams/tonne gold ("g/t Au"), to produce 20,000 to 30,000 ounces of gold in 2007 based on metallurgical recovery of 80%. Mr. Darren Koningen is the Qualified Person under NI 43-101 for the Project.
A diamond drilling program is also underway at the El Sastre Main Zone focused on upgrading the existing inferred resource to indicated status and facilitating the completion of detailed mine production plans. The Company intends to conduct further exploration drilling elsewhere on its El Sastre Project in order to expand further its overall gold resource.
"This marks our transition to a gold producer and also the culmination of a lot of hard work on the part of the entire team," said John Paterson, P.Eng., President and CEO of Aurogin. "Their skills and efforts are critical to the strong future that lies ahead for Aurogin and its shareholders."
Aurogin Resources Ltd. is an emerging gold producer focused on the acquisition and development of profitable gold deposits in the Americas. Aurogin's 50% owned El Sastre Main Zone in Guatemala, now in production, is only one part of the overall El Sastre Project, an expanding resource that includes at least four mineralized zones. Management aims to define a resource approaching one million ounces of gold (hosted in 15 to 20 million tonnes grading 1.5 to 2.5 g/t Au).
Issued: 62,052,721 common shares
SOURCE: Aurogin Resources Ltd.
Aurogin Resources Ltd. Greg Taylor V.P. Investor Relations (416) 605-5120 Email: info@aurogin.com Website: www.aurogin.com
Copyright (C) 2006 CCNMatthews. All rights reserved.
I also picked up some TRGD in the .30's per your recommendation (although I was in and out of it at .06 when it was American Stellar - AMRS).
I only wish I would have bought more than 12k shares, although I guess it could be worse :)
Thanks!
I've been waiting to jump in to ROK.V, but was starting to feel like it had gotten away from me lately. I hate that there are some delays in production, but it gave me an opportunity to pick up some shares at 1.35 and 1.39 CDN.
Any comments on Liberty's (LBE) Q3 Results? They're out on SEDAR.
I don't know much about this play, but the results didn't seem that great for Q3. Nice to see that the mill will be ready for Spring '07 and that the first Nickel sales have begun. What were the expectations for Q3? Was a loss expected for one more Q as the mill gets ramped up?
Opinions? Nickel Miners - BMC.v, LBE.v, FNI.v
I'm fond of LBE.v and have owned some since my purchase .85 (primarily due to recommendations on this board - thanks!). But, both BMC and FNI are near term producers as well, and are lagging quite a bit from LBE in terms of share price.
I know the circumstances are quite different between the three, but does anyone have any thoughts or opinions on BMC or FNI. FNI seems to have some fairly low Ni grades (although forecasted to increase in Q1 '07) and higher operating costs, but they did just report a positive eps of .02 basic and .01 diluted.
I haven't looked very hard at BMC yet, but I thought I remembered that BMC was in favor by some a few months ago.
Any thoughts?
HMI.V - Another Platinum Miner announced very positive drilling results today.
Platinum is hot right now in the commodity markets, and Hinterland is trading at about .16 right now (including the 55% gain already seen today) with only 30m shares O/S.
Hinterland Makes Unprecedented Platinum-Palladium Discovery in Quebec
Tuesday November 21, 10:06 am ET
Shares Issued 32,077,202
VAL d'OR, QC, Nov. 21 /CNW/ - Hinterland Metals Inc. (TSXV: HMI) ("Hinterland") is pleased to announce that it has discovered a new Platinum-Palladium zone by drilling on its Plateau PGE project located 35km southeast of Matagami Quebec. The zone occurs as a distinctive layer or "reef" in drill hole EB06-05 and returns a weighted average of 1.9g/t combined Platinum and Palladium over 3.0m from 80.5 to 83.5m. The Platinum to Palladium ratio is 1:1.25.
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The Plateau property covers the whole central part of the Archean Bell River Complex. The central part is acknowledged in a recent Quebec government publication as the most primitive, deepest level of the Complex and is identified as the most prospective area for reef-type Platinum and Palladium ("PGE") mineralization. To the knowledge of Hinterland, the drill interval above is the first time that reef-type PGE mineralization has been intersected by drilling in the Complex. As such this is a very important, unprecedented discovery.
The discovery was made by drilling a target identified by a proprietary screening methodology developed by Hinterland. The zone is coincident to a magnetic anomaly in an area of the property where there is no outcrop. A high-definition aero-magnetic survey completed in June 2006 traces this anomaly for 4.8km within the Plateau property indicating that the zone has potential for considerable strike extent. The zone remains open in all directions. Hinterland intends to follow up this discovery with diamond drilling early in 2007.
"We anticipate obtaining more information about this unique and exciting find when diamond drilling commences in the New Year," stated Mark Fekete, President and CEO of Hinterland Metals Inc.
This press release has been submitted to http://www.TOP10PressReleases.com for investors to vote on. Investors can locate the release by using the industry filter or searching by company name and/or stock symbol.
Investors are asked to visit the Hinterland IR Hub at www.agoracom.com/IR/Hinterland where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to HMI(at)agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
The analytical results stated above were determined at Laboratoire Expert Inc. ("Expert") in Rouyn-Noranda, Quebec by fire assay, DCP-MS technique. Expert is not accredited but it is independent, maintains an internal quality control program and participates annually in CANMET round-robin proficiency testing. Mark Fekete, P.Geo is the designated "qualified person" as defined in Section 1.2 in and for the purposes of National Instrument 43-101 responsible for the preparation of this release.
PFN.TO +.07 or 20% to .44CDN. I had a feeling that there would be positive news coming after the announcement that Stillwater Mining invested $2m in the company. They've found some high grades of PGM's (platinum group metals) in their latest drilling results:
http://biz.yahoo.com/cnw/061121/pacific_river_valley.html?.v=1
I was also in AMRS at about .06. I think I uncovered it by reading one of markrhead's posts. He was also invested in Energytec if I remember correctly (boy...I'm glad I got out of that one before the crash). Anyway, I loaded up the truck. But, AMRS kept making promises about getting off the pinks, adding production, etc. and never seemed to go anywhere.
I just assumed it was a scam and dumped them all for no profit. Man...I wish I had kept them for sure! Still, I was able to buy some TRGD and my average is shy of .34.
My only concern is getting TRGD off the pinks. It looks like real progress is being made, but I'm going to continue to be skeptical until I actually see the audited financials. I hope it happens soon!
PFN.TO - Pacific NW Capital - Platinum miner
Somehow I have had this this one on my watch list. Bobwins, did you mention this at some point? Anyway, it piqued my curiosity today with the announcement that Stillwater Mining (SWC on the NYSE) has invested $2m in PFN.TO via a private placement. Stillwater Mining is a leader in the production of platinum group metals and is a profitable Company that trades on the NYSE at around $12/share.
I don't know if this means much, but Stillwater must have liked something about Pacific NW's properties, or they wouldn't have shelled out $2m. PFN was trading at about .32 before the announcement, and it's jumped up to .36 or so now. I'm not well versed on platinum/paladium mining at this point, but it looks interesting nonetheless.
Two things of note from the latest 10Q:
Letter of Intent Update:
"Although the LOI by its terms expired 120 days after its
execution, the parties continue to work toward a closing in
accordance with the terms of the LOI."
Existing Tunicom Poperty Sale:
"The closing on the sale of the property is expected to occur in November 2006." (it was October)
I finally was able to pick up 10,000 shares today. It took about a week. I heard about it from Guy's post on the VM ZipCodeChangers board and was intrigued enough to thow a little money into it. It is extremely speculative, but should be fun to follow. Thanks Guy.
re AFPC: Thanks Knowledge and hweb for sharing your thoughts. I didn't realize that there was some seasonality to their sales. I am going to follow this one more closely and look for a good entry point (maybe after next Q earnings). Long term, it seems like AFPC is in good shape and has the capital and increasing sales to help support growth and eventually a higher share price.
AFPC: AFP Imaging - Thoughts?
Sorry, my premium subscription ran out, so I can't search the Value Microcap board like I planned to find past discussions. I noticed that AFPC is trading near its 52 week low (at about $1.50 right now). I had this on my alert list from at least 6 months ago, and it just popped up as trading at my target low.
Not having reviewed AFPC in months, I'm not quite sure what the going forward expectations are. I see that in the recent Q end, sales continue to rise as new digital products are introduced. But, eps declined to .03/share in Q4, a decrease of .02/share from Q3. Y/E eps declined to .10/sh from .20/sh in the previous year, although there were some tax benefits included in prior year figures.
Anyone have thoughts on AFPC? Even though earnings declined, the fact that sales continue to grow is very positive. Plus, the Co. has no debt and has quite a bit of working capital (funded primarily from a recent private placement). The o/s is under 12m fully diluted, so it could be fairly volatile with any good or bad news.
I did see that the bulk of the sales increase was due to their new mobile digital imaging system. What worries me a bit is that the increased sales were offset by a decline in sales of intra-oral x-ray systems by 16% due to increased competition. It also sounds like the production costs are trending slightly upwards and some products sold have lower gross margins.
I'm not sure what to think at this point, but it looks interesting thus far.
Interesting stock. Thanks for the tip. I picked up a few thousand shares at .65 yesterday. I'm hoping for a nice pop when the initial license cash payment rolls in.
I'll have to take a look at HYD.v That symbol sounds familiar, but I can't remember when I looked at it.
I'm also going to take a look at TLF.v also in the O&G service industry. They posted .06eps last quarter I believe (and .22 for the year) and are trading at just around .50CDN. I found those figures second-hand, so I'll have to spend some time with SEDAR to look for myself. It sounds intriguing on the surface though.
NRX - I'm really surprised that Norex didn't sustain some kind of price increase after their guidance announcement. These Canadian markets just don't make sense to me. On the surface, I would say that Norex is a great buying opportunity right now, but it's obvious that I can't read these markets very well.
I agree, a pink sheet symbol would definitely increase the liquidity and maybe spark some more interest.
Actually, I think I emailed the Company when I first got interested in Norex (and it was trading in the .80's CDN). I asked about a possible pink sheet symbol, but never received a response. I know the Co. can fill out a form (found on pinksheets.com, I think) and request their own pink sheet trading symbol. It would certainly benefit them. Maybe I'll try to drop Mgmt a follow-up email.
NRX - I was also able to pick up 1,000 shares this AM at $2.76C. Interactive Brokers really is a great resource for Canadian purchases.
I'm not surprised that Norex hasn't gone through the roof yet (although it is up 25% or so). It just seems to not show up on people's radars for some reason. Maybe there will be another chance to get in at a decent price before the official Q4 comes out.
Also, the next quarter is typically the slowest quarter for the Canadian service industry. Due to winter thaw, the shoulder season usually sees slower workloads. I'm not sure how much Norex was/is booked for Q1, but I imagine it won't be quite the blockbuster as Q4 in terms of overall revenues, etc.
Time will tell, I guess...
Thanks. I was thinking about trying to sneak in a few shares tomorrow too. Who knows, maybe we're the only ones who caught the NR!
Nah, who am I kidding. Not with my luck!
I haven't looked at BGH.v before. On the surface, it sounds like .16CDN are great earnings for Q1. Any idea why there has been little movement of late? These Canadian stocks baffle me sometimes. Just when I think a Co. is an undervalued, sure-fire bet, it starts to sink and drop off the charts. I don't get it sometimes. It can certainly be frustrating!
NRX.v - I'm glad I could bring something positive to the board. Everyone here seems so open and willing to share their research and tips with the rest of the board. It's helped me tremendously, and it's nice to be able to pick a winner from time to time as well to share with others.
Bobwins, thanks for the comparison/valuation to TGE. Put into perspective, NRX should run circles around TGE in terms of share price. Of course, stocks trading on the Canadian TSX exchange never tend to live up to US stocks in terms of share price (given similar earnings, market cap, etc.) But, I certainly expect to see a nice pop tomorrow! I can't wait! I don't own a lot, but I was lucky enough to grab some at .86CDN back when Norex just turned profitable. Even a blind squirrel gets a nut sometimes, I guess.
NRX - Bigpike, I also asked Etrade a couple of months ago to no avail. Etrade did let me buy the stock, but I had to jump through some hoops and can't trade it electronically (I'll have to call in a sell order at some point). It is a bit frustrating. I now have some money at Interactive Brokers, but it's obviously too late to buy more now (unless I can sneak in a few shares at the open). It's a shame that there isn't a more efficient way to get pinkies added in a decent timeframe. It's frustrating as an investor to watch one get away.
Alpetro (ALF.V) - Nice to see an update from Alpetro. It sounds like they should have a pretty easy go at getting their EOY production up to 350 - 400 boe/d. Hopefully all the tie ins will occur just about the time that nat gas skyrockets again in anticipation of the winter months.
As you mentioned, my greatest fear is that mgmt will play it extremely safe and won't secure some good opportunities to increase production after the 2006 six well program. While 400 boe/d should start to turn some investors heads, I'm not sure that Alpetro is going to show up on many investors' radars until they reach the 500 boe/d plateu. Only then do you see write-ups from junior O&G investment groups like QIS Capital and Iradesso.
With such a low O/S Share count (7.68m), this stock could be extremely explosive as Alpetro continues to tie in production. A 32% increase today is a great example of its volatility. Short term, I'm very comfortable with my investment in Alpetro. In order to hang around past 2006 though, I'll expect to see a good game plan to continue to increase production in 2007 and beyond.
I'll call this morning to request a pinkie for NRX. I already have some shares that I bought the hard way, but I sure would like to have the pink sheet equivalent for any future trades. Besides, this allows for more exposure from US markets. With the acquisition of Conquest Seismic, Norex is definitely making some waves in the O&G Service sector in Canada. Share price is flirting with $3.00 now, so it's been a fun ride thus far. I'm not sure how much gas is left in the tank short term simply due to the fact that we're in the "shoulder" season which is typically the worst of the year as all the snow and ice melts and drillers take a short break.
But, I am looking forward to great results next Q (quarter results before the shoulder season).
re Cannon Oil...Bobwins, on second thought, current bid is .66 and ask is .99 with last trade at .62. Maybe your buy this AM at .54 wasn't so bad after all...
re. Cannon Oil, coo.v - Damn, I was using a little under 21.3m for my o/s share count. I didn't add in the recent conversion of debt to equity either. Still, Cannon is also adding production from their Luseland heavy oil project as well. I typically don't like heavy oil, but it is a nice complement to the Trutch play. Combined, they should quickly reach 400 boe/d.
It may take a little longer to play out, but I still think Cannon is going to do well over the next year or so, especially if nat gas prices bounce back.
COO.V (CNIOF.PK) - Cannon Oil brings Trutch interest onto production
Cannon is a tiny Canadian Junior with a 20% interest in the Trutch area of BC (nat gas). Until the Trutch property came onto production, Cannon was only earning about .01/share on 50 boe/d of production. But, this tie-in will add net 183 boe/d off the bat, with net 60 boe/d behind pipe and a plethora of additional drilling targets. Cannon is currently trading at .49CDN with approx 22m shares o/d and might be a real bargain here.
Cannon hasn't issued the release yet, but their partners Alberta Clipper and Pacific Rodera announced that their Trutch interest has been tied into the new infrastructure and are on production at a total gross of 917 boe/d. With 20% WI to COO.V, that gives Cannon 183 boe/d of new production.
Also, 2 new wells were drilled in Q1 and add 300 boe/d gross production (to be tied in in the second half of 2006). That will give Cannon an additional net 60 boe/d.
It's also worthy to note that current mapping suggests up to 70 potential locations can be drilled on this property over the next five years. Cannon has plenty of targets to look forward to. As well, the Halfway formation at Trutch offers potential for more of a wildcat possibility that could produce significant finds.
Here's the PR from Cannon's partner Pacific Rodera. Again, Cannon has a 20% WI in Trutch:
PACIFIC RODERA ENERGY INC. GOES INTO PRODUCTION
Pacific Rodera Energy Inc. and its partners have completed construction and testing of its new production infrastructure at Trutch, B.C. Initial gross production rates from the five wells that are currently on production are approximately 5.5 million cubic feet per day (917 barrels of oil equivalent per day). Rodera's net production is 440,000 cubic feet per day (73 barrels of oil equivalent per day). The facility and pipeline infrastructure project, coupled with the completion of a 48-kilometre transmission line operated by Keyera Facilities Income Fund, opens up a multiyear natural gas development program at Trutch, where the company holds an 8-per-cent average working interest in 33 sections of land. Alberta Clipper Energy Inc. operates both the facilities and drilling program.
In addition to the five wells that have been brought on production, Alberta Clipper has successfully drilled and tested two additional wells at Trutch in the first quarter of 2006. The two new wells, representing incremental gross production of approximately 1.8 million cubic feet per day (300 barrels of oil equivalent per day), are expected to be tied in during the second half of 2006. The company holds a 9.639-per-cent working interest on these two wells. Current mapping suggests up to 70 potential locations can be drilled on this property over the next five years. A 32-square-kilometre 3-D seismic program that was shot over the property this winter is currently being processed.
In addition to the pipeline and associated facilities, Rodera and its partners are nearing completion of an all-weather road into the Trutch property to allow for access outside of the winter months.
Bigpike, thanks for the info. I will try to give that number a call and request a pinkie symbol for Norex. Another one that I'm interested in is Long View Resources (LRC.V). They seem undervalued based on 2006 guidance and it would be nice to be able to order it off the pinks.
Thanks again!
That's interesting. I always wondered how to get a pink sheet equivalent set up. It seems like a more administrative task than anything else. I thought that maybe the Canadian Co. would have to request it, but it makes sense that a broker would have that power because it's simply an administrative symbol that makes it easier for the broker to route to their Canadian countepart to execute the transaction.
I'll have to inquire as well next time I'm on the phone with E*Trade.
NRX.V, yes I was able to buy a Canadian stock without the pink sheet equivalent using E*Trade. I couldn't do it online though. Instead I had to call the trading desk and spend 20 minutes or so on the phone finalizing the order. They did not, however, charge a higher commission. If anyone else tries it, make sure that your broker will honor their existing commission structure and not charge you an arm and a leg. I think I paid a $10.00 commission, which isn't bad at all.
Instead of showing a symbol, my E*Trade portfolio simply shows a series of numbers to designate my holdings (a placeholder). Yet, I do get nightly quote updates to give me a general idea as to the stock's value.
Overall, it hasn't been a bad experience. I initially had to buy at the "ask" just like with a pink sheet equivalent. And, I can't simply sell at the drop of a hat because I'll have to phone in my sell order when the time comes. But, for stocks where you expect a 20% gain or more (which Norex has more than done), it really was worth it to me.
Re: NRX.v Excellent news! I'm glad to see that they earned .10 in Q3. I also own NRX.v, but bought before I set up my Interactive Brokers account. I had to do it the hard way by calling E*Trade and placing a phone order. Since then, I've gained about 90% on this one, so I guess I can't complain.
It will be interesting to see how Norex manages the acquisition of Conquest. For the year ended Oct 31, 2005, Conquest alone generated $65m in revenues, so we should see the benefit of this in Q4.
The one sour note is that the shoulder season is coming up, and Norex generally has a slow Q2 (Apr - Jun) with the freeze breakup. The good news is that Norex is pursuing sales opportunities in Eastern Canada and certain areas of the United States to offset the seasonal cyclicality of operations in western Canada.
Norex seems well positioned for a nice rise in stature and stock price in the near future.
That's a great tip, Zen. I hadn't thought about entering one share to help with conversion. Thanks!
A Guide to Buying Canadian Stocks on the US Pink Sheets
I've noticed that a lot of people get tripped up with trying to understand the concept of buying foreign stocks by using an OTC pink sheet equivalent here in the US. It seems like a lot of us have had trouble understanding liquidity, volume, price quote, etc. It initially took me a couple weeks to completely figure it out as well, so I thought it might help to share a quick synopsis of the process (excerpted from an article written by Jason Hommel) to help any of us still new to the concept:
For the most part, US investors cannot buy Canadian stocks through US brokers. We have to use international brokers or Canadian brokers in order to buy Canadian stocks. A US investor can open up an account with a Canadian broker, and trade directly on the Canadian exchanges. But, otherwise, we must look to another alternative:
One way around this limitation is through trading the "pink sheets" (PK) which are available for US investors who do not have a Canadian broker. Most Canadian shares also have a symbol for trading on the "pink sheets" (PK), which quotes the price in US dollars, instead of Canadian dollars (i.e. Diaz Resources trades in Canada under the symbol DZR.TO. The US PK equivalent is DZRFF.PK). When buying a PK stock symbol, your US broker actually buys from another broker who does both a currency conversion for you, and he buys the stock on the Canadian exchanges, and he will charge an additional commission for both services, which tends to be about 1-3% in my experience. Unfortunately, the quotes for the PK shares are often updated a day later, or not updated for a few days. And there is no volume published, nor a bid and ask to get quotes on the PK shares.
This does not mean there is no volume in the stock, and this does not mean you cannot get a bid and ask. The stock trades in Canada, and the volume, and bid and ask are on the Canadian exchanges, and you can get all this information at yahoo.com for free, very easily, by looking up the quote for the Canadian symbol. The quote for a ".V" or ".TO" stock is in Canadian dollars. To translate this to US dollars, you have to look up a currency conversion chart, and multiply by the current CAD to USD conversion rate to get the dollar price.
When placing an order for a "pink sheets" (PK) stock, you should also add about 1-3% for the commission, or more if the stock is tightly held, to help make sure your limit order is filled.
Key Points:
1. A .PK stock (DZRFF.PK) is NOT a separate or independent exchange listing, but ONLY a mechanism that facilitates the purchase of the Canadian stock in the US by a Canadian broker.
2. Liquidity means NOTHING in the .PK symbol (ie. DZRFF.PK). Always look at volume using the true Canadian symbol (ie. DZR.TO)
3. Price for the .PK symbol is only updated nightly for most brokerages, and is in US dollars. To get the actual current price for the stock, look up the true Canadian symbol, and translate the price from the Canadian currency to US dollars.
4. There is no bid/ask for a foreign .PK symbol. It is irrevalent anyway, because you must gather than information from the true Canadian symbol and not the .PK version.
OT: yielddude,
Good luck with the search. We're trying to upgrade ourselves, but the home prices in Cary aren't cooperating at all. I need a couple more 10 baggers to help us out with the finances! LOL.
I hope you enjoy your visit.
Nope, I can't get into the Yahoo Portfolios either. It's too bad, because I actually think I'm showing a little green today. Oh well, I don't need the false sense of hope anyway.
Woo hoo! I'm glad that I'm finally up for a day! That takes me all the way up to a whopping 61st place (still the bottom 3rd). Watch out Mr. sheep, here I come. LOL!
Production averaged 887 boe/d for Q4. That's disappointing compared with our (already lowered) expectations of close to 1,100 boe/d. No wonder the stock made a significant correction from it's highs. Cash flow was only .13/sh. for Q4 (not quite up to expectations). Of course, most of this has already been factored in to the lower share price of late, but I'm disappointed in the production figure.
We do have 100 boe/d behind pipe at Killian that should come on by Q2 at the latest. Also, it looks like Rival botched a re-entry of a gas well before YE 2005 that was expected to produce 1mmcf/d (166 boe/d) net to Rival. This hurt significantly, and Rival hasn't decided whether to re-drill the well or not.
The 2006 Guidance looks promising:
This capital program will be funded from cash flow and available bank lines. Rival currently budgets cash flow of $10-12 million, or $0.55 to $0.60 per share for calendar 2006. This forecast incorporates a WTI price of $57 per barrel and an AECO natural gas price averaging $8.00 per thousand cubic feet. The Company believes these targets are achievable based upon its prospect inventory, its historical drilling success and the continuation of attractive prices for both commodities.
It looks like our original forecasts for Rival were ahead of themselves by 6 months or so.
Awesome write-up. Thanks for sharing all your hard work and research. It sounds like Sharon is doing everything right at this point. I don't know much about the NW Speaks prospect, but it sounds like all the TX potential plus NW Speaks gives Sharon an incredible inventory of projects, all with very large potential production increases.
I'm glad I bought a few extra shares last week. It looks like Sharon could be a great long term investment if they continue to hit. I'll be watching intently to see if the Hancock processing facility gets completed by end of March. If so, we should easily be producing 600-700 boe/d by April.