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Dow future is already up 200.
Monday is going to be interesting.
copper up to 3.19
Anything on oil?
Please let me know how you short a 2c stock.
I would love to learn how to do it since none of the trading houses will let you do it
Tembec, That will be 20c a share for the quarter.
They could do a total of 40c if not more.
Back in the green in Canada
Got a bunch of TMB at 1.9
What a crazy day
HBM.TO back to profitability
http://finance.yahoo.com/news/HudBay-Minerals-Releases-iw-1851099274.html?x=0&.v=1
$900M in the bank. Who are they going to buy?
PTQ, No I did not look at it.
I am out of money and up to the max on margin.
So many opportunities.
My top 5 holdings
IAE
MMT
TGB
I W E B
ELFNX
TMBC will make the top 5 soon.
JFF, I got some at 2.7055 and some at 2.723
The rest of them I got in Canada but I do not know the price yet. It goes through a Euro account.
BTW, I got out of my euro holding by buying US and Canada stocks.
TMB, Increasing my holding today.
+10K shares in Canada (TMB) +10K in US (TMBCF)
Will continue to add as funds become available.
Looking forward to $5 after present Q results.
Year end who knows $10?
If it get there I'll have to send my first grandchild to CL001
IAE GOM effect
I am sure it had some effect. You always have somebody getting spooked on this type of event. You just have to see KOZ's going LALA on us. At the end of the day it will recover to its normal trend and that's up.
Concerning the chart. I am not a chart reader but I do not think IAE is moving on high or low RSI. IAE is moving up on better and better news. More reserves, more production, more cashflow, higher oil price, good reliable execution of their plan. It is moving down on profit taking. Well, maybe that's what the chart tells you but I do not know how to read it
Next leg will be the results of the sidetrack this week. High probability it will be very good and we will go over $3 by the end of the week.
NALCO NLC Just discussed on CNBC with their CEO.
They have a chemical that breaks down the oil and transforms it into food for marine life !!!!
They just got the go ahead for the chemical to be used in the GOM in a massive way.
Of course their stock is way up. They used everything they have in stock and are ramping up production. Bet you they are working 3 shift 24/7.
Please use "free for all Board" for all conspiracy theories. It is where it belongs.
MMT year end numbers are out
http://www.stockwatch.com/nocomp/newsit/newsit_sedardoc.aspx?docid=2123522
BWR.T BWR Talk about high volume 26M shares traded
From the CC:
$66M in the bank
4c earnings $24.8M
Langlois will reopen but no date yet. They are ready to do it.
$6.9M increase in exploration budget
Great improvement on the balance sheet. (noticed by analysts comments)
They are concerned about Zinc supply. We could have a surplus in the next 2 years but they are bullish in the medium term to long term. Zinc market will determine when Langlois reopens.
Protecting 80% of production for 2010 by using puts and forward sales at $1.05. (it was .85 in Q1)
They could do a reverse split but no decision. They discuss it at every Board meeting.
Analyst comments were all positive. We should see some upgrades
Oversight always happens when somebody tries to take short cuts to maximize profit. "Hi! I am from headquarter I am here to help you!" If they determine that somebody violated safety measures that group is toast and in my view they deserve it. It has nothing to do with who is the cop on the beat.
My understanding is that Haliburton maybe the culprit. Where did I hear that name before on taking short cuts to maximize profits. Like to try the showers in a US camp in Iraq?
If I recall some lady had a speech about how safe drilling was in the Gulf and that the mean gov. should stop the oversight. Funny I have not heard from her recently about that subject.
Bottom line is yes, we will get a lot of inspections on the rigs to make sure this disaster is not repeated and you know what, it may not be such a bad idea even if we have to pay $1 more for a barrel of oil. Ask Massey Energy how they feel about safety inspections. Look at the share price, I think they wish they had paid more attention to it.
The price of oil is going to go through the roof with the spill impact.
$90 by next week, $100 by June.
Bad for Gulf drillers but good for the small guys on land or in the North sea. I would much prefer a rise due to a booming economy than a spill disaster.
IAE analyst notes from UK site
-Our preliminary calculation of the value added by this well is over $1.00 per share, and is not included in the asset values calculated later in this report. A side-track is currently being drilled, with results due near the end of April 2010, after which the appraisal phase of the field will be complete and full scale development will follow.
-Ithaca’s current reserves provide for a growing production profile over the next four years. A mature company with 79.1 million barrels of reserves could be expected to produce 30-35,000 bd, indicating additional potential in excess of Ithaca’s guidance (and also substantiating their ability to achieve their forecast).
-Based on the reserve and financial data at year-end 2009, Ithaca is trading at a
large discount to its 2P (proven and probable) asset value of $5.38 and its 3P (proven, probable and possible) asset value of $11.99. The majority of the possible reserves are attributable to the Stella area and the most recent well will likely allow some of these reserves to move into a higher category, increasing the valuation. Drilling of surrounding structures, if successful, will augment these numbers in future years.
-Last year was an excellent year for the Company in terms of finding and
development costs, which at $7.11/b, came in at well under industry norms. The estimated future capital expenditures on the Company’s proved and probable reserves are $16.42/b.
-As the Company exits 2011, annualized cash flow is approximately $1.40 per share.
-the current reserve life index is 8.6 years on proven reserves, somewhat higher than the norm for the industry. The index rises to 11.4 years on proven and probable reserves.
New report on IAE $4 with a strong buy
http://www.union-securities.com/CMResearchFiles/1_95_Ithaca_Initiating_April_20101_FINAL1.pdf
Bailed out of all my ATPG.
I will not touch it until the the BP problem is solved. The only thing we know is that oil price will be going up. With the hurricane season around the corner all drilling could be on a slow pace with a lot of EPA or some other agency inspections.
BWR BWLRF up on huge volume in Canada
4M shares in the first 15mn. 200K as a pk
up 11%
BWR BWLRF 4c profit for Q1
Not bad for a 39c stock.
TORONTO, ONTARIO--(Marketwire - April 29, 2010) - Breakwater Resources Ltd. (TSX:BWR - News; TSX:BWR.WT.A - News) realized net earnings of $24.8 million or $0.04 per share in the first quarter of 2010 compared with a net loss of $6.5 million or $0.01 per share in the first quarter of 2009.
The main items affecting the movement to net earnings were:
$41.6 million (US$50.6 million) or 65% higher gross sales revenue primarily due to significantly higher metal prices and higher concentrate sold partially offset by a stronger C$ --
12% lower treatment and marketing costs primarily due to a stronger C$ and more favourable smelter terms and freight rates
$5.2 million or 16% higher direct operating costs primarily due to 7% higher concentrate sales and higher costs at Toqui partially offset by the impact of a stronger C$ --
$2.3 million write-down of mineral properties and fixed assets primarily due to the termination of earn-in option agreements on certain exploration properties --
$3.3 million or 115% higher income and mining tax provision primarily due to higher earnings before tax at all operations partially offset by a $2.0 million tax expense in 2009 which did not recur in 2010
inv.t International Nickel Ventures Corporation
Does anybody know anything about it? Bobwins?
http://www.invmetals.com/s/Home.asp
I just heard on BNN that a director bought 950K shares at .95
TGB. Discussion with IR
I talked to IR today and this is what I learned:
The community part of the hearing is done. They have great support from the town but some problem with the First Nation. They think they cleared up a lot of the misconceptions / informations about the mine. You would expect them to say that.
They are now moving to the technical merit of the project.
This should be completed by May 3rd
It will take up to 60 Days to issue the recommendation to the Federal government.
Final ruling from the Fed. should be around early to mid September.
The permit will also be done around the same time.
The company is considering selling 25% of the gold production out of prosperity for $350M. This is for gold only, no copper.
That would put them in great shape for the full financing of the $800M.
The day this is approved this stock will jump big time.
In the mean time they are going to have a very good Q1 and an even better Q2 and Q3 with the edge on 50% of production coming off in May. No sign that we will see a drop in copper price this year.
We look good.
You mean $7 LOL
I have no idea why everything seems to click for me recently. I bought a bunch of MILL on Thursday and Friday after selling a tech stock.
I just hope it keeps on going.
I think I will survive :)
Thanks anyway
New WAG 05/09/10 at 22:00
BWR BWLRF.PK insiders share purchase
A fair amount of trades before the quarter on April 30th.
The number of shares is not large but it is a buy by several insiders.
http://www.canadianinsider.com/coReport/allTransactions.php?ticker=bwr
Asia up 2% tonight.
Dollar down, oil up.
www.Oilprice.com shows Brent at $87.62 !!! going up
We should hit $100 by this summer
Oil leaking in the Gulf.
Any potential impact on other rigs? Safety review etc?
Could ATPG be impacted?
Mining in BC
Very interesting write up about mining in BC. They do bring up TGB Prosperity but with an $800M value. I think they mean that the $800M is the amount TGB will spend of Prosperity. The deposit value of Prosperity is more like $21B.
It is worth the long read.
http://commentaryandanalysis.mining.com/2010/04/20/majors-rediscovering-british-columbia/
TGB is percolating
The town came out in favor of the mine. When it gets approved and the probability is high, this will jump big time.
MC is $1B Prosperity reserves value is $21B
Do I hear multi-bagger.
Before that it will jump on Q1 results. We already know they are going to be very good.
I added some more again today. The calls at $7.5 for august are a bargain (30c)
IMO of course
IAE getting close to the $3 level (US$2.91)
UK real time up 8% to 187P
Canada C$2.96
Go baby go!!!
Trader Expo Los Angeles June 9-12
Anybody going to that one?
Let me know, I will be there
MMT, I forgot a few things
The year end will be published next week. It will include material events of the first quarter.
Q1 will come at the end of May.
Not sure yet if we will get the company presentation up on the WEB site. They need to do that and I have been asking for it more than once.
MMT status
The PR this morning indicates that the drilling of UMU-6 will start shortly. Spud should be next month with a the tight-in coming 60 to 90 days later. This is about 30- to 45 days beind CEO schedule but within the previous announcement that they would do it in Q2.
The next well will follow in the second 1/2 of the year.
This would bring the production up between 8K BOPD and 10K BOPD before year end.
The processing facility is in place for 20K BOPD and it can be increased to 30 BOPD.
Next year we can anticipate around 5 more wells so we have the potential of a 20K BOPD by the end of 2010.
As previously discussed the revenue sharing is a bit tricky. Max is 50% but it does not start before 1/2 of the drilling cost is paid back. We may get a better picture if they publish their CAPEX for 2010 and 2011. Timing will be critical to maintain and increase of revenue quarter over quarter.
Balance sheet will look really good by the end of 2010. They will be almost done repaying the debt maybe even fully done. The AP is also went down in Q4 last year and I think will also improve in Q1.
IAE war chest increasing by US$140
http://www.ithacaenergy.com/uploads/IthacaPressRelease100422.pdf
Add to that the cashflow and how do you spell:
A C Q U I S I T I O N
IAE IACAF with all eyes on MMT our beloved IAE is quietly moving up. +7% in the US at $2.65
Anybody knows if South Fork ranch is still available?
Here you go again with the asian DNA. $.88
Why not $8.88 so you can buy a real boat
LOL
I could make a few oil man jokes about that one but I am not going to go there. LOL
Well at least not in a public forum
Cancelled