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Natgas bounce, what is the cost of extraction for nat gas production companies? I heard somewhere that is was $3 per the same unit that is selling for $2.20 right now. If so, then there could be a small issue there?
Anyone follow RDA.V (Royal Coal)? I see it got beaten down pretty bad in 2011. 36 cents to 3 cents, now at 4.5 cents.
Anyone got any info on this one?
I hate the thought too, but I also don't think this has anything to do with Obama. He probably is in over his head and doesn't want to do what he is doing is my theory.
Of course, I beleive in a shadow govt, ie, a lot of leaders, including US Presidents, are just figure heads, which is an entirely different topic.
Yes, it would be extraordinarily painful to fix this mess, which politically isn't an option, therefore, it most likely won't get fixed unless we have some sort of revolution OR we have a big reset when everything unwinds/falls apart at warp speed.
I mostly agree, but in reference to "Obama MUST be defeated if this country has a chance of survival", I think that ship has long since sailed.
It doesn't matter if it's Obama, Newt, Romney, Hillar or perhaps even Paul. It hasn't mattered if it was Reagan, Clinton, Bush, etc either.
For the past 32 years, but for 3 quarters during the 08-09 crash, Debt has advanced more than GDP every quarter.
All the presidents are surely aware of this and also that it is mathematically unsustainable.
Now we are at the point that is nearly mathematically impossible to stop the trend without eradicating medicare, medicade, ssn and the military, which of course will not happen either.
If all elected presidents and presidential candidates since 1980 have been aware of this issue, and it is still happening, the questions you have to ask are Why and How?
The answers bring some of us to some dark conclusions.
Bill Still is the best Libertarian candidate, but the public is not awake enough to elect him, maybe in 2016.
Coin, I agree, 1st $21, then it could hit $18 like you said.
and yet Gold is down nearly $100 in 24 hours. Everything will likely be thrown out in the next downturn, similar to early 2009.
URRE, phase I drilling and Cameco now that they pulled their offer for HAT, to name a few 'rumors'.
Lots of rumors swirling on URRE...
On orv, saw that Bob, from $4 to $1 in a year!
Dexia Bailout On Verge Of Collapse started the slide, the pmi print didn't help.
Math sucks sometimes, imagine if interest rates go northward.
Barnhardt Capital Management has Ceased Operations
http://www.zerohedge.com/news/entire-system-has-been-utterly-destroyed-mf-global-collapse-presenting-first-mf-global-casualty
Posted by Ann Barnhardt - November 17, AD 2011 10:27 AM MST
Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,
It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.
The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy.
The futures markets are very highly-leveraged and thus require an exceptionally firm base upon which to function. That base was the sacrosanct segregation of customer funds from clearing firm capital, with additional emergency financial backing provided by the exchanges themselves. Up until a few weeks ago, that base existed, and had worked flawlessly. Firms came and went, with some imploding in spectacular fashion. Whenever a firm failure happened, the customer funds were intact and the exchanges would step in to backstop everything and keep customers 100% liquid – even as their clearing firm collapsed and was quickly replaced by another firm within the system.
Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette.
I have learned over the last week that MF Global is almost certainly the mere tip of the iceberg. There is massive industry-wide exposure to European sovereign junk debt. While other firms may not be as heavily leveraged as Corzine had MFG leveraged, and it is now thought that MFG’s leverage may have been in excess of 100:1, they are still suicidally leveraged and will likely stand massive, unmeetable collateral calls in the coming days and weeks as Europe inevitably collapses. I now suspect that the reason the Chicago Mercantile Exchange did not immediately step in to backstop the MFG implosion was because they knew and know that if they backstopped MFG, they would then be expected to backstop all of the other firms in the system when the failures began to cascade – and there simply isn’t that much money in the entire system. In short, the problem is a SYSTEMIC problem, not merely isolated to one firm.
Perhaps the most ominous dynamic that I have yet heard of in regards to this mess is that of the risk of potential CLAWBACK actions. For those who do not know, “clawback” is the process by which a bankruptcy trustee is legally permitted to re-seize assets that left a bankrupt entity in the time period immediately preceding the entity’s collapse. So, using the MF Global customers as an example, any funds that were withdrawn from MFG accounts in the run-up to the collapse, either because of suspicions the customer may have had about MFG from, say, watching the company’s bond yields rise sharply, or from purely organic day-to-day withdrawls, the bankruptcy trustee COULD initiate action to “clawback” those funds. As a hedge broker, this makes my blood run cold. Generally, as the markets move in favor of a hedge position and equity builds in a client’s account, that excess equity is sent back to the customer who then uses that equity to offset cash market transactions OR to pay down a revolving line of credit. Even the possibility that a customer could be penalized and additionally raped AGAIN via a clawback action after already having their customer funds stolen is simply villainous. While there has been no open indication of clawback actions being initiated by the MF Global trustee, I have been told that it is a possibility.
And so, to the very unpleasant crux of the matter. The futures and options markets are no longer viable. It is my recommendation that ALL customers withdraw from all of the markets as soon as possible so that they have the best chance of protecting themselves and their equity. The system is no longer functioning with integrity and is suicidally risk-laden. The rule of law is non-existent, instead replaced with godless, criminal political cronyism.
Remember, derivatives contracts are NOT NECESSARY in the commodities markets. The cash commodity itself is the underlying reality and is not dependent on the futures or options markets. Many people seem to have gotten that backwards over the past decades. From Abel the animal husbandman up until the year 1964, there were no cattle futures contracts at all, and no options contracts until 1984, and yet the cash cattle markets got along just fine.
Finally, I will not, under any circumstance, consider reforming and re-opening Barnhardt Capital Management, or any other iteration of a brokerage business, until Barack Obama has been removed from office AND the government of the United States has been sufficiently reformed and repopulated so as to engender my total and complete confidence in the government, its adherence to and enforcement of the rule of law, and in its competent and just regulatory oversight of any commodities markets that may reform. So long as the government remains criminal, it would serve no purpose whatsoever to attempt to rebuild the futures industry or my firm, because in a lawless environment, the same thievery and fraud would simply happen again, and the criminals would go unpunished, sheltered by the criminal oligarchy.
To my clients, who literally TO THE MAN agreed with my assessment of the situation, and were relieved to be exiting the markets, and many whom I now suspect stayed in the markets as long as they did only out of personal loyalty to me, I can only say thank you for the honor and pleasure of serving you over these last years, with some of my clients having been with me for over twelve years. I will continue to blog at Barnhardt.biz, which will be subtly re-skinned soon, and will continue my cattle marketing consultation business. I will still be here in the office, answering my phones, with the same phone numbers. Alas, my retirement came a few years earlier than I had anticipated, but there was no possible way to continue given the inevitability of the collapse of the global financial markets, the overthrow of our government, and the resulting collapse in the rule of law.
As for me, I can only echo the words of David:
“This is the Lord’s doing; and it is wonderful in our eyes.”
With Best Regards-
Ann Barnhardt
So the buying is blocked and the selling is hit with the $700 fee warning?
QMIN is on the known Non-DTC eligible list at Zecco trading, along with the standard warning message that now accompanies any stock under a $1.
This comes for a sell as well, which I would think would be a deterrent for sellers as well, right?
Shandong Gold 19.41 tons of Gold would be worth the following using $1200 per oz of Gold in 2010:
19.41 x 2000 x 16 x 1200 = 745.34 Million, not 64 Billion.
"Shandong Gold, a state-owned company, is one of China’s top three gold miners. Its listed arm produced 19.41 tonnes of mined gold in 2010. The group has said it owns about 800 tonnes of gold resources"
ATPG, series of bad PR in recent days has this one looking to test recent lows.
http://www.fool.com/investing/general/2011/11/10/heres-how-atp-oil--gas-may-be-failing-you.aspx
http://finance.yahoo.com/news/ATP-Oil-May-Miss-2012-Bond-bloomberg-3000700575.html?x=0&l=1
http://www.fool.com/investing/general/2011/11/10/atp-oil--gas-shares-plunged-what-you-need-to-know.aspx
http://blogs.wsj.com/deals/2011/11/10/atp-cfo-says-oil-gas-co-in-control-of-destiny/?mod=yahoo_hs
Downgraded to Reduce by Global Hunter Securities on the 11th.
Damn close on your call "I think 127.39 is the high of the day". Looks like 127.6 on the S&P!
I agree, I'm just saying if there is some news that is having an effect on the markets, then the news isn't the tiny economy of Greece with it's 1 year over 230%, it's the handling of Greece's issues by the Eurozone and how it relates to the bigger fish going forward.
I don't think it's Greece, it's how the handling of Greece will apply to Spain and Italy. Those 2 will move markets. Italy has the 8th largest world economy and 4th in the Eurozone in terms of GDP.
I think this entire greek fiasco is being seen as a precursor to those 2 countries, and it is moving the markets for that reason.
Wow Silent, thanks for that writeup, crazy times!
Gold-Ore (Goz.to) Record Earnings for Third Quarter 2011
Gold–Ore Resources Ltd. (TSX: GOZ) today reported its financial and operating results for the quarter ended August 31, 2011. (all figures are in Canadian dollars unless otherwise stated)
Third quarter 2011 highlights:
Revenues of $17.2 million
Net income of $5.5 million or $0.06 per share
Operating cash flow of $7.8 million or $0.09 per share before changes in working capital items, and $12.2 million or $0.14 per share after changes in working capital items
Cash cost of US $882 per gold ounce sold
Gold Production of 9,302 ounces or 289.3 kilograms
Sale of 10,229 gold ounces or 318.2 kilograms
Net income for the third quarter increased 138% to $5.5 million from $2.3 million in the same period in 2010. Cash increased to $16.8 million at August 31, 2011 from $6.5 million at the end of the second quarter, and working capital increased to $21.4 million from $15.7 million over the same period.
PetroReef (PER:CA) up almost 200% at one point today, ends up 54%?!
LSG (Lake Shore Gold) trading at early 09 levels with this drop.
Margin calls across all PM's and BM's is what I'm seeing. Capstone fell under $2 today, 1st time in well over 2 YEARS! I could name dozens of others.
Lea.V (Leader) down 21% to .50 with no news, just a shake out?
Wrong board.
AAA had drilling results released today:
TORONTO, ONTARIO -- (Marketwire) -- 09/15/11 -- Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF)("Allana" or the "Company") is pleased to announce that it has intersected potash mineralization in Holes DK-11-24 ("Hole 24"), DK-11-25 ("Hole 25") and DK-11-26 "Hole 26"). All Holes intersected two zones of potash, Sylvinite and Kainitite, at shallow depths and are located in the southwestern portion of Allana's land position. Hole 24 yielded 35.12% KCl over 2.81 metres at a depth of 135.83 metres which corresponds with Sylvinite Zone, and 21.03% KCl over 6.30 metres from the Kainitite Zone. Hole 25 also intersected the Sylvinite Zone returning 29.33% KCl over 5.5 metres and the Kainitite Zone which returned 18.98% KCl over 5.89 metres. Hole 26 yielded 20.26% KCl over one metre of sylvinite at a depth of 105 metres and a robust Kainitite Zone which returned 18.54% KCl over 8.00 metres. The potash mineralization in Hole 25 was intersected at approximately 101 metres below surface and all holes are located in the southwestern portion of the property where holes 8, 11, 16, 17, and 19 also intersected shallow potash and management believes this area may be amenable to open pit mining.
Farhad Abasov, President and CEO, commented: "Allana is extremely encouraged by the zones of strong potash mineralization intersected in Holes 24, 25 and 26 and that the potash continues to occur at shallow levels. These holes, combined with previous holes completed by Allana, form a region of potash mineralization which occurs at depth between 75 and 200 metres below surface. Allana management believes that the potash in this region may be amenable to mining by open pit methods and future studies will focus on this potential."
ATC.V (Atac) back in the 5's.
VER.V (Vecta) Down 70% to 2.5 cents. Failed JV news.
Mill up 47% today.
FECOF down 27.4% today, roller coaster!
BTO.V (B2Gold) 2nd Qtr Results are out.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - B2Gold Corp. (TSX:BTO)(OTCQX:BGLPF) ("B2Gold" or the "Company") reports its results from its operations for the second quarter ended June 30, 2011. All dollar figures are in United States dollars unless otherwise indicated. Highlights from the second quarter include:
2011 Second Quarter Results
Adjusted net earnings of $22.0 million ($0.07 per share)
Record cash flow from operations of $28.8 million ($0.09 per share)
Increase of cash and cash equivalents to $78.9 million at quarter end
Record gold revenue of $54.5 million
Gold sales of 36,030 ounces
Gold production of 36,760 ounces exceeding budget
Consolidated operating cash cost of $507 per ounce of gold
Financial Results
B2Gold reported adjusted net earnings for the quarter, of $22.0 million ($0.07 per share) compared with an adjusted net loss of $3.4 million in the same period last year (negative $0.01 per share). Adjusted net income in the second quarter of 2011 was calculated by excluding a non-cash deferred income tax expense of $6.3 million, resulting mainly from a decrease in non-capital tax loss carry-forwards, and a non-cash share based payments expense (relating to stock options) of $0.7 million.
Cash flow from operating activities for the second quarter of 2011 was $28.8 million, compared to $1.1 million in the second quarter of 2010. The second quarter operating cash flow was the highest quarterly cash flow in the Company's history, reflecting the Company's strong operating performance and continued strength in gold prices.
Gold Revenue
Gold revenue for the second quarter of 2011 increased to a fifth consecutive record of $54.5 million on sales of 36,030 ounces compared to $53.5 million on sales of 38,754 ounces in the 2011 first quarter and to $23.3 million on sales of 19,319 ounces in the 2010 second quarter. The increase in revenue over the prior quarter in 2011 was attributable to a higher average realized gold price of $1,513 per ounce, which exceeded the first quarter average realized gold price of $1,381 per ounce. The significant increase in revenue compared to the second quarter of 2010 was mainly due to higher gold production from Libertad Mine which continued to successfully ramp-up throughout 2010 after commencing commercial production on February 1, 2010 and also to higher average realized gold prices. The increase in realized prices reflect the increase in market gold prices, which averaged $1,506 per ounce for the three months ended June 30, 2011 compared to market gold prices of $1,386 and $1,197 for the three months ended March 31, 2011 and June 30, 2010, respectively.
La Libertad Mine accounted for $35.6 million of gold revenue from the sale of 23,490 ounces while $18.9 million was contributed by the Limon Mine from the sale of 12,540 ounces.
POE.V on key 3 year volumetric support.
Looks like it broke north of 1715 between 2 and 3 am.
25 or 40 on Gold, wow!
Mill article source is short 120k shares at $7.07, wtf, isn't this illegal?
They were losing their ass so they come out with a hit piece?
* Important Disclosure: TheStreetSweeper, through its members, began establishing a short position in Miller Energy Resources (MILL) on June 24 and has now shorted a total of 129,441 shares of the company’s stock at an average price of $7.07 a share. It expects to profit on future declines in the stock by covering its short position at a lower price and will fully disclose the details of its transactions as they occur.
Mill fell $2 at eod, fraud article seems to be the culprit. Long read: http://www.thestreetsweeper.org/undersurveillance/Miller_Energy__Is_This_Hot__Alaska__Stock_about_to_Mel
IFR.V, Bob or anyone heard of these guys? International Frontier Resources Corporation ("Frontier" or the "Company") (TSX VENTURE:IFR) reported today that the Company has entered into agreements with ten vendors to purchase title to their freehold acreage located in northwest Montana for a purchase price of US$3,183,133. The Company will initially pay $2,121,876 with the balance of $1,061,256 being held in a trust account until a title opinion has been completed. If the title opinion indicates that the vendors own less than 17,082 net acres, or more than 17,082 net acres, the purchase price will be adjusted accordingly using US$186.33 per net acre.
Frontier's fee acreage is located on the Blackfeet Reservation, Glacier County northwest Montana where Anschutz Exploration (private), Newfield Exploration (NFX-Z) and Rosetta Resources (ROSE-Q) have drilled discovery wells. The discovery of moveable oil in tight rock in Montana kicked off the Alberta Basin Bakken Petroleum System play ("ABPS") which is currently being explored and appraised in northwest Montana and southwest Alberta.
The majority of Frontier's fee acreage is currently under lease to Newfield Exploration and Anschutz Exploration. The existing leases reserve, in favor of the Lessor (Frontier), gross over-riding royalties ranging from 12.50% to 18.75%. The existing leases expire over the period 2011 - 2016. The acreage is located on the postulated over-pressured ABPS play fairway and within close proximity to wells drilled by Anschutz, Newfield and Rosetta on the Montana side and Crescent Point (CPG-T), Murphy Oil (MUR-Z) and Royal Dutch Shell (RDS-Z) just across the border on the Alberta side.
The ABPS play is a light tight oil ("LTO") resource play which is characterized as a self sourcing hydrocarbon system with thermally mature source rocks in the Bakken shales in Montana and the Exshaw shales in southern Alberta. Based on available data the Blackfeet Reserve area is interpreted to be a Deep Basin LTO resource play with pervasive petroleum saturation, over pressured reservoirs, no water and the presence of light API oil. The Blackfeet Reserve is located on the eastern fore-front of the Rocky Mountains therefore there is a good chance for natural rock fracturing in the prospective reservoir targets which, if encountered, should increase production rates and recoverable reserves. This unique geological setting offers multiple stacked zones, which include the Lodgepole, Bakken, Three Forks, Nisku and Cone.
The two public companies exploring on the Blackfeet Reserve, Newfield and Rosetta, have in their Q1, 2011 operations updates stated the following; "Newfield has drilled seven vertical wells, completed and placed on production two horizontal wells, and is preparing to drill an eighth vertical well. All wells to date have encountered oil. Newfield has 280,000 net acres in the play, located in Glacier County Montana. Multiple prospective geological formations throughout the acreage are planned for evaluation". In a Q1, 2011 update Rosetta said "Rosetta's 11-well vertical drilling program to assess the commerciality of the play across its approximately 300,000-acre position in northwest Montana is nearing completion. The company has two rigs under contract in Q1, 2011. As of March 31, 2011, eight vertical delineation wells had been drilled with operations underway on the ninth and tenth vertical wells. In Q2, 2011 Rosetta will spud the first of three horizontal wells". Rosetta have also stated that they have "confirmed significant oil hydrocarbons in place and over-pressured reservoirs, with an estimated 13 - 15 million barrels oil equivalent resource in place per square mile (640 acres)". Scouting reports indicate that Anschutz have also discovered oil on their Blackfeet acreage.
The map below indicates well licenses issued by the Montana Department of Natural Resources and Conservation as of March 31, 2011 as well as townships in which Frontier owns fee acreage.
To view the Drilling Activity N.W. Montana map, please visit the following link: http://media3.marketwire.com/docs/531ifr_drilling.pdf
In 2010 - 2011 the ABPS play was extended into southern Alberta with discovery wells drilled by Argosy Energy (GSY-T), Crescent Point (CPG-T), Deethree (DTX-T), Murphy Oil (MUR-Z), Nexen Inc. (NXY-T) and Royal Dutch Shell (RDS-Z).
To view the Tight Oil Fairway - The Players map, please visit the following link: http://media3.marketwire.com/docs/531ifr_fairway.pdf
In a research report dated April 2011 BMO Capital Markets Oil & Gas "estimates that from January 2009 to March 31, 2011 industry has spent approximately $518 million along the ABPS fairway for land, bonus and farm-ins to establish land positions in southwest Alberta and northwest Montana. As of March 31, 2011 a total of 59 wells (32 in Alberta and 27 in Montana) have either been drilled or licensed. At an estimated cost of $4 million per well for the 59 wells industry have committed approximately $245 million for drilling".
Commenting on the purchase Frontier said "it had been seeking an opportunity to get involved in an oil resource play that would not involve major dilution to its shareholders. The fee acreage we acquired provides excellent exposure to an emerging light tight oil resource play that is being explored and appraised on both sides of the border. Based on the number of vertical wells drilled to date on the Blackfeet Reserve it is fair to assume that operators have gathered enough reservoir data to understand rock properties therefore the next stage of development will likely include horizontal wells and multi-stage fracturing to achieve optimum production rates and recovery factors. As the Company's fee lands do not expire we have numerous options available to exploit our Montana acreage portfolio, the most appealing of which is drilling 100% net revenue wells".
I sold some BER at .51 at was going to let a bigger chunk ride. Oh well, my account will be lower 2morrow!
Coin, the debt ceiling is not about default or "U.S. will not be able to pay it's debt". One can only default on loans and entitlements are not debt. The interest on the loans is easily covered by tax revenues almost 10 fold.
This is about paying on entitlements and Defense.