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Anyone know where the buying is coming from? Maybe there is a new group involved?
Looks like more buyers than sellers again today. Now thats an intelligent observation?
OK now I know AURC has bottomed.
Munchkin why do you care if you are banned from Allstocks?
2create you and the core investors here know where this is going with some time and patience. I really dont care what anyone else thinks.
I have made alot of money in gold stocks the last 4 years and I dont think the next 4 will be any different.
I picked up some more yesterday also. People have to understand that in the short run a stocks price doesnt necesarily reflect the underlying company. Both AURC and NDOL have massive reserves that are not reflected at all in there stock price. When the time comes that they are reflected the longs here will make alot of money if they have the guts to hold on and be patient.
Picked up another 20,000 this morning.
Speaking Of Bears
By Yiannis G. Mostrous
While in Greece visiting family, I've been able to discuss market and economic issues with locals and other European market participants. The subject of one gathering was Russia’s current economic status and its long-term potential.
The conversation centered on a colleague's observations of the 10th St. Petersburg International Economic Forum, held June 13-15. My friend was extremely impressed with the caliber of people from the international scene that were in attendance. In addition to prominent investment bankers and figures from international organizations, many CEOs and other high-level executives of companies from around the world participated. CEOs in attendance included those of BHP Billiton, Angloamerican, Nissan, Mittal Steel, Goodyear and Siemens. Other companies represented include Boeing, BP, Cargill, Citigroup, ConocoPhillips, Total, UBS and Unilever.
Overall, it was a very impressive turnout and proved to be a useful rehearsal for the successful G-8 Summit that St. Petersburg hosted for the first time July 15-17 (see Silk Road Investor, 19 July 2006, My Friend, The President Of The United States, George W. Bush). Russia's hosting duties were hammered out during what was then the G-7's 2002 summit in Canada and signify completion of the process for full membership.
The majority of presentations concentrated on economic growth activities and how to finance them. At the same time, my friend got the feeling that Russia is becoming more international in regard to business. During the conference, Norilsk Nickel--the world's largest producer of nickel and palladium--announced its alliance on minerals exploration and development with BHP Billiton's Russia operation, and the celebrated CEO of Nissan, Carlos Ghosn, signed the company's St. Petersburg investment agreement.
Many company executives spoke openly of their positive experiences in doing business in Russia; they were able to buy land at the lowest possible price allowed by federal law, and import tariffs on parts were lowered. It's no wonder then that St. Petersburg is now home to assembly plants of companies like Ford, General Motors, Nissan and Toyota.
To be sure, no one was willing to say that Russian practices have changed overnight--far from it. But everyone agreed that things are looking much better and that the positive news would continue.
President Putin was credited with making the changes necessary for Russia to advance. The Yeltsin years, by contrast, were described by many as essentially a lost decade; Russia had no direction and no clear vision of its future.
Based on these first-hand observations, the Russians seem to be confident once again and are now more open to do business with and learn from the rest of the world. These factors were lacking in previous cycles. Note that this cooperation doesn't include selling Russia's natural assets to foreigners or their local representatives, as previous advisors had once counseled.
It seems this new confidence bolstered the reasoning that's led the Russian government to proceed with the convertibility of the ruble, for the first time since before the October Revolution, as of July 1.
Russians and foreigners are now able to take rubles abroad, foreign investors will be allowed to open ruble bank accounts and restrictions on fixed-income, and ruble-denominated investments will cease. Although the domestic market is still quite small for this change to have any major impact, the point to note is that the investment process for Russian companies will now be more efficient, as they'll be allowed to source funds in rubles. It's expected that the ruble will strengthen, perhaps trading closer to 25 rubles per USD1 by year's end.
When the argument that Russia's rising fortunes rested solely on high oil prices was raised, a fund manager in our company pointed out that Nigeria has enjoyed increased oil revenues, but nothing's changed otherwise. In contrast, Russia is set to pay off all its bilateral foreign debt to the Paris Club, an informal group of official creditors whose role is to find and coordinate sustainable solutions to the payment difficulties experienced by debtor nations.
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According to the organization's official Web site:
Negotiations held between the representatives of the Paris Club creditors and of the Government of the Russian Federation on the 15 and 16 June 2006 resulted in an agreement regarding the early repayment by Russia of all its Paris Club debt. This agreement is about to be signed by Russia.
After the early repayment of its debt which amounts to about USD22 billion in face value, Russia will no longer be a Paris Club debtor, while remaining a major creditor within the Paris Club. This operation will represent the largest prepayment ever made to Paris Club creditors.
As things stand, Russia seems to be an economy--a re-emerging one--with some good things going for it: a USD236 billion FOREX reserves surplus and more than USD50 billion in its oil reserve fund. The government runs a fairly conservative fiscal policy, while inflation is relatively well-behaved and could decrease below 9 percent (see the chart below).
Source: Bloomberg LP
Regular readers are aware of my long-held view that the world economy is going through a transformation, the outcome of which will be a change in economic growth leadership. The expectation is that this leadership will be assumed--in due course--by the East, and although the process won't be a smooth one, it's irreversible.
Russia will participate in this change, maybe not as a leader, but certainly--given its huge energy supplies--as a facilitator.
Russia is currently in the sweet spot: It's a net oil exporter, has good GDP growth, isn't dependant on foreign capital flows, is relatively stable politically, boasts reasonable--if not cheap--market valuations and, above all, enjoys solid exposure to the biggest growth story of our time, Asia.
Investors should look for entry points to buy long-term growth stories in Russia if they want outperformance in coming years. This isn't to say that a global recession or a choppy market won't hurt Russia or that a commodities bubble won't happen. Regardless, Russia will continue to modernize and improve its economy--and to perform well while doing so.
Yiannis G. Mostrous is editor of Growth Engines.
DRY HOLES HAPPEN. Look at the good news. Tom got the drilling done promptly and made the announcement when he said he would. They have money and more wells to drill next month not next year. I for one am hanging around and if there is another round of selling I am buying more.
Well the good news is they have a couple more wells to drill. Im hanging out for those. Dry Holes happen.
This is getting ugly. Do you think they hit corn oil?
Exactly I was agreeing with you. Sorry if that wasnt clear.
Really I to dont want to hear about some jewish guy that lived 2000 years ago here. Keep it for Sunday. Try to be a good person because it is the right thing to do and dont start preaching here.
After reading this I am scared.
You cant argue with that response. Short level headed and to the point.
How many quarts of oil have we hit? I need a few for my car. Just Kidding. I am looking forward to next week. Odds are on our side.
There are alot of relatively big trades going through.
OT Jagman wrote
I think it is the second best book ever written in the history of Earth!!!
and what is the first best book ever written? Fear and Loathing in Las Vegas
There have been more sellers than buyers the last few days. It happens.
My take is if we hit this first well it is off to the races. If not maybe it pulls back alittle and consolidates as we anticipate the second big one. Either way im not selling a share.
Who is King?
OT Oh and by the way was Ann Coulter dipped in clorox???
2create is there any way you can 86 IHDR. If I have to read another 100 posts tomarrow of his and replies to him I may be sick. Please have mercy on me and get rid of him.
I think they may have hit gold instead of oil and it is confusing people and creating the selling. Just kidding.
NNRF is a slam dunk big winner just needs a little time.
Vic wrote
I wouldn't say Rosneft but it can be a Yukos.
So you want the President to go to jail and the assets to be given away???
Im just kidding.
If you pee on Snow it turns yellow and melts. Now thats mature. Oh well couldnt help myself. I think Ill call Parker now if I just knew who he is.
SNOW
Who is Parker and who are you and why dont you go bother some other people?
I hope the share price goes down. Im lookin to buy more.
2create third great find. NDOL AURC NNRF.
Time to buy more.
Lowman picked up 100,000 May 5 and have not been following to closely since. Now that the well is close I am getting excited. What do you think the percent chance that they hit this first well is and also the second?
Benz you will be eating your filet mignon and washing it down with Dom.
You know these guys are doing a $350 million purchase and the money is being loaned to them. There are many NYSE companies that couldnt pull that off. They are in there infancy and pulling off these kind of deals can you imagine what is to come.
Some of you guys to to take your mind off the current stock price and look at the big picture. We have a massive winner here for people who can hang out for awhile.
I worship many Gods. I think it was 2create who told me to buy right after he 2created the world. It was on the seventh day when he was resting.
I think we might be seeing some of those old insiders selling here. Better to get them out now than at a $1.
DODOBIRD please sell now I have order in to buy I want filled.
Thanks for letting me know this is a scam dodobird. Now get the hell out of here and stop bothering me while Im trying to buy more.
As I said yesterday just be patient.(I was surprised to see another announcement so soon) Once again I plan on still being here in a year. Who else will be here with me. The big money on this will be made sitting not trading.
Was that news quick enough for you impatient guys?