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jerpy

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Everything posted by jerpy

  1. jerpy

    Rusoro Mining

    Ok so it's not everyone's cup of tea, maybe because of Chavez's antic's, moral ethics or simply bombed out. But this little gem is alive and kicking and time for another look. Why? Well there was this going on last week,TORONTO, Dec 15 (Reuters) - Rusoro Mining (RML.V) has made an unsolicited all-stock offer for Gold Reserve (GRZ.TO) to take over its Brisas gold and copper deposit in Venezuela, the Canadian-based company said on Monday. Rusoro is offering three of its shares for each Gold Reserve share, which values the target at C$1.08 a share, or C$61 million ($49 million), a premium of 140 percent, based on Friday's closing prices. Gold Reserve trades on the Toronto Stock Exchange and Rusoro trades on the TSX Venture Exchange. Shares of Rusoro, which is based in Vancouver, British Columbia, but controlled by Russian Vladimir Agapov, fell 26 percent on the news, while Gold Reserve rose 51 percent. Gold Reserve said in a statement it will wait until it receives a formal offer before it decides how to proceed. Rusoro is already part of a joint venture with the Venezuelan government and the company appears set to benefit from the country's desire to increase control of its mining sector and boost ties with Russia. Venezuela's mining minister, Rodolfo Sanz, told a Russian government delegation in early November it would sign an accord with Rusoro to operate the Brisas and Las Cristinas projects, the country's largest gold deposits. Canada's Crystallex (KRY.TO) operates the Las Cristinas project under contract, and the company's shares have plunged as its efforts to get final approval to mine the deposit have dragged on. Shares of Rusoro were down 10 Canadian cents at 26 Canadian cents, valuing the offer at 78 Canadian cents a share. Gold Reserve was up 23 Canadian cents at 68 Canadian cents. Brisas is expected to yield nearly 500,000 ounces of gold and 60 million pounds of copper annually once it reaches production, the company has said. ****** If anyone doesn't know the story, simple terms one's out of favour in Venezuala, the other is not but you will need to d.y.o.r there a bit******* But why not let the main man explain himself as interviewed http://watch.bnn.ca/commodities/december-2...008/#clip123014 This is obviously viewed as hostile by Gold Resource, but doing the maths they get a 30% stake unless i'm wrong and the chance to make some money or whistle in the wind it seems. Coupled with this RML also added a nice little update on another territory they had recently been given : Dec 19, 2008 -- Rusoro Mining Ltd. (CDNX:RML.V - News) ("Rusoro" or the "Company") is pleased to report that it has achieved record gold production at historically low cash costs at its Choco 10 mine for November 2008. The Company also reports that operations at the Isidora mine continue to exceed its expectations. Both mines are located near the town of El Callao in Bolivar State, Venezuela. Recent production highlights include: - Record Production. The Choco 10 mill produced 13,475 oz of gold in November 2008. This marks a monthly record for 2008 and can be attributed to a record month of ore processed from the Choco 10 mine which produced 9,170 ounces of gold with the other 4,305 ounces of gold coming from ore processed from the near-by Isidora gold mine. - Record Cash Costs. Cash costs at the Choco mill were a record low for November at US$385 per ounce of gold. The vast improvement is the culmination of a number of initiatives which include, improvements made to the haulage fleet availabilities, mill availabilities and optimization of the primary mine haulage contract. - Record Ore Processed. The number of tonnes of ore processed through the Choco 10 mill has continued to impress with 193,796 tonnes processed in November. Rusoro President, George Salamis states, "The Company is extremely encouraged that the months of hard work by Rusoro's operations team to optimize production at Choco 10 have resulted in the operations reaching these milestones. We have a number of initiatives that are on-going and the Company is optimistic that further reductions in our operational cash costs are achievable at the mines." Rusoro CEO, Andre Agapov states further that, "To be able to report cash cost numbers from the Choco 10 mill which are under $400 US per ounce is a major achievement. To have arrived here in less than a year is a real tribute to the dedication of our workforce." November: Mining and Milling Total ore processed at the Choco 10 mill in November was 193,796 tonnes. The total gold recovered at the plant was 15,593 ounces with a total of 13,475 ounces poured during the month of November. As a breakdown of ounces produced, gold recovered from Choco 10 ore processing recovered 9,246 ounces, with 9,170 ounces poured during the month. This is a record monthly amount of gold poured for Choco 10 in 2008. Isidora gold ore processed at the Choco 10 mill resulted in 6,347 ounces of gold recovered and 4,305 ounces of gold poured during the month of November. Significant ore development has now been completed at the Isidora mine which will allow the Company to sustain the current production levels moving forward. Additionally the Company will continue to optimize efficiency and lower its costs for its mining operations at the mine. For the month of November 2008, the operational cash costs at the Choco mill for the combined gold produced from the Choco and Isidora mines was US$385 per ounce. About Rusoro Mining Rusoro Mining is a junior gold producer with a large land position in the prolific Bolivar State region of Venezuela. The Company operates the Choco 10 and Isidora Mines, processing the ore through the Choco Mill facility near the town of El Callao. The Company will produce approximately 100,000 ounces of gold in 2008 and is on schedule to have two additional mines (Increible 6 and SREP) in production by Q3 2009 and Q1 2010 respectively. ******* ONE DAY like it or not someone's going to realise these boys are Russia golden nugget in Venezuala and the locals are very obliging********
  2. jerpy

    Set To Break Out?

    More on UEN Dec. 16 (Bloomberg) -- China Petroleum & Chemical Corp., known as Sinopec, is in negotiations to buy London-traded Urals Energy Plc, Kommersant reported, citing unidentified people familiar with the talks. Shareholders of Urals, which operates in Russia, will get an offer for all shares by the end of the year at a price of no lower than 50 pence (77 cents) apiece, or a total of about $133 million, the Moscow-based newspaper said. Urals closed at 10.75 pence yesterday. Price yo-yo a go-go. Company just reiterated a RNS saying nothing for certain in effect. Could soar or end in tears, but in play.
  3. What a difference a few months make well certainly to Arjun Murti. He’s the Goldman Sachs analyst who called for an oil “super spike” more than three years ago. When Murti first predicted oil could reach a $105 a barrel, way back in March of 2005, oil was trading below $60. And as for Arjun Murti, the guy who predicted all this… he now says $200 oil is a possibility in the next 12 to 24 months. http://www.contrarianprofits.com/articles/...last-laugh/1899 The once vaunted "oracle of oil" now says $45 for oil, he's been revising down the last few months since his May prediction. So much for fame, now comes the derision. http://www.khaleejtimes.com/biz/inside.asp...ection=business EDIT: Predicts low as far as $30 and a painful 1st qtr 2009
  4. jerpy

    Set To Break Out?

    Apologies if this is hi-jacking an old thread, but didn't want to particularly ramp this company, though i suppose drawing attention to them i am Has anyone else been playing UEN, noticed some chunky buys last week and a few sensible comments on ADVFN are suggesting the possibility of a Russian major take out? The down side is clouded with Sberbank loan negotiations that remain unresolved? Appreciate it won't be everyone cup of tea as already bounced strongly on lows, but were massive falls before that in keeping with many oiler's so after reading a bit on potential of stock and assets had a punt on rumours and strong trades, even managed to get a good position for myself . Wondered if anyone else in or has a take, as pondering my next move. Risky buy, gamblers stock?
  5. jerpy

    Sad Zimbabwe Mining

    Been watching these most of this year and waiting, and waiting and waiting. Seems to me they are prime to trade any Mugabe demise bounce, even ended a long downtrend recently. Still watching and waiting, but sadly for those suffering, the wait continues. Will be my play on any changes though.
  6. Funny i had those same thoughts, i might award him guru status, but at this rate he could be wide of the mark for being overly positive
  7. jerpy

    GOLD

    Like this article only because it reinforces my attitude to gold. http://seekingalpha.com/article/109400-is-...rticle_sb_picks
  8. jerpy

    GOLD

    Brilliant! Don't know how you do it without resorting to Bart like comments D'OHH
  9. Hi Jamus, Found this one from the same source a bit more interesting due to cost analysis. http://www.miningweekly.com/article.php?a_id=144941 Plant and backfill positioning would result in lower haulage costs and there would be no need for slimes dam management. Stoping would represent 20% of the cash costs at $64/oz; engineering 13%, at $41,60/oz; water and electricity utilities 4%, at $12,80/oz; labour 41%, at $131,20/oz; metal- lurgical processes 17%, at $54,40/oz; and the remaining 5%, at $16/oz, taking the total cash cost to $320/oz. Upside potential included uranium and sulphur opportunities. Gold production was expected to start at up to 1 500 oz/m from November 2008, rising to 100 000 oz/y in the fourth quarter of 2010. The new 18 000-t/m concentrator would be commissioned in April 2009 and the 10 000-t/m carbon-in-leach plant in the first quarter of 2009.
  10. jerpy

    Condor Resources PLC

    Well i thought they looked good, but anyway almost out of date now, but the link to the minesite article from 24th Nov perhaps worth a mention. Though it's last paragraph intrigues me? "The ideal target would be a private company in Central or South America – condors tend to stick to the Andes – which is looking to capitalise on its production while shares are cheap. In that case we are probably looking at a reverse............ We will be watching and waiting, but it would not be realistic to expect much before Christmas". What of Mr Moussa's experience in Africa? Why was he bought on board if they are going to stick to that region? Or is a sale of assets further down the line on the cards to move in another direction, is that why Nigel Ferguson stood down? http://www.minesite.com/nc/minews/singlene...ld-bones/1.html Maybe get an update sometime, though might not be this side of Christmas
  11. jerpy

    Condor Resources PLC

    Got an answer for you now Walden...the time to invest short term was probably yesterday Anyway, managed a little top up and finally good news at San Albino-Arras and Santo Domingo, considered to have the highest potential for continuity of gold mineralization at a significant grade and width, both amenable to open pit mining. RNS states "high-grade intercepts and visible gold have been recorded in a quartz-veined shear zone in the footwall contact of the massive quartz vein...... The continuity and thickness of the quartz vein is unusual in this region suggesting that this may be a major regional structure and possible primary conduit for the original gold-bearing fluids. The potential for continuity of gold mineralization over a significant distance along such a large structure is significant, and the visible gold discovered in the massive quartz vein's footwall is evidence that high-grade gold mineralization is present". Whilst also noting "the potential remains for the Segovia Project area to host a world class mining operation" from limited sampling done there. There's more qualified people than me to interpret the RNS data, but i'm encouraged by what i see today.
  12. If you want some further basic detail they were plugged in Shares mag last week, hence possible slight spike as volumes didn't seem hugely traded! Can't remember what was said as read it standing in a motorway services WH Smiths, just thought would check them out myself sometime, so got them on a watchlist. Do recall they had lots of permits and only been on LSE for about 12 months and suppose main benefit is they will not suffer the whims of AIM! But still had the graph of a bumpy slide
  13. jerpy

    GOLD

    Just thought i'd post this up as a message from our sponsors World Gold Demand Increases 18%, Hits Record High in Dollar Terms By Gold World Staff Thursday, November 20th, 2008 Smart gold investors aren't ready to throw in the towel yet. Because despite a 25% drop in prices over the past five months, the gold bull market is still healthy and on track. And a recent sharp increase in world gold demand is our proof. World Gold Demand in a Bull Market Two weeks ago, Mining Speculator investment director Greg McCoach wrote to you and outlined the basics of how a gold bull market works. If you recall, Greg mentioned that gold bull markets generally consist of three succeeding events: Currency devaluation Increased investment demand; and Speculative mania buying We began to see a sharp correction in the value of the U.S. dollar beginning in 2001, which quickly lead to a jump in investment demand. A subsequent 7-year U.S. dollar bear market helped lift gold prices from $250 to over $1,000 an ounce. Over the same period of time, world gold demand grew in terms of both tonnage and dollars, aided by the introduction of the now widely popular gold ETFs and similar gold investment vehicles. In July, the U.S. dollar reversed its downward trend, and continues to enjoy a bull market as central banks and foreign governments buy the greenback as a hedge against their own deflating currencies. This U.S. dollar bull market has significantly pulled down on gold prices. Gold has lost roughly 25% since mid-summer, leading some to believe that the gold bull market might be over. But it's not! The current U.S. dollar bull market is short-term and fleeting. We expect the U.S. dollar to top out sometime within the next several weeks, then continue on it's long-term downward trend. And judging by a significant increase world gold demand, we're certainly not alone. Despite a five-month drop in prices, world gold demand increased 18%, and made a new all-time record high in term of dollars as lower prices encouraged investors to seek haven from the global credit crisis. World Gold Demand Increases 18%, Hits Record High in Dollar Terms World gold demand totaled 1,133.4 tonnes during the third-quarter. This was up 170.1 tonnes, or 18%, from levels of a year earlier. In dollar terms, this represented a 51% rise to $31.8 billion, an all-time record high! This is a 45% leap from the previous record set during the second-quarter, and a major indicator that the gold bull market is still on track. And there's even more convincing evidence . . . The biggest contributor to the increase in total world gold demand in third-quarter was identifiable investment, which was up 137.5 tonnes, or 56%, relative to year-earlier levels. Driving the improvement in identifiable investment was net retail investment, which increased 121% from 105.1 tonnes to 232.1 tonnes. Switzerland, Germany, India and the United States enjoyed the biggest surge in demand, although shortages of bars and coins were reported among bullion dealers in many parts of the world. Gold ETFs set a record net quarterly inflow of 150.0 tonnes, boosted by extreme levels of economic and financial uncertainty. The peak in inflows occurred at the end of the September, triggered by the collapse of Lehman Brothers and a fear of banking sector collapses. Net inflows surged by an unprecedented 111.0 tonnes during 5 consecutive trading days, equivalent to $7 billion! Increasing investment demand is key to any bull market. In fact, it's surging investment demand that will ultimately lead to the coveted speculative mania buying stage and the peak of this gold bull market. Investment demand continues to grow, which provides strong support for the ongoing progression of the gold bull market, despite a few bumps in the road. We continue to urge you to buy gold. Bullion dealers around the country are limited in what they can sell right now. But if you have money that you're looking to keep safe, and can find a dealer who can get it for you, buy some gold now before the price spikes. Good Investing, Gold World Staff
  14. jerpy

    Xstrata

    Very volatile again today, just noticed it's droping again like a lead ballon. Most likely on Aluminium and copper price concerns as a guess. Almost back to it's lows again. Is this possible to trade the spikes?
  15. Dr B these have had a dire time of late and their recent quarterly results showed a substancial loss. I'm just interested as to whether these might be a turnaround play again or is there more doom to follow? Assuming you are still folowing them?
  16. On the note, you may be interested in this update in the Oilvoice newsletter if you have not already seen it: *********************************** UK Facing Oil Supply Crisis Within 5-Years Thursday, October 30, 2008 The biggest threat facing the U.K. is the declining levels of oil production which could begin to hit Britain within the coming 5 years, according to a report by an independent industry group. The warning of an impending energy crisis has been made by the UK Industry Taskforce on Peak Oil and Energy Security, an alliance of eight British engineering, utlity and transport companies drawn from across the economy. Worries over current falling demand levels of oil will quite simply pale in comparison to the looming collapse in the supply of oil. While producing countries are currently considering cutting current output levels to reverse the trend in the falling price of a barrel of oil; just a few short years ahead these very same producers will be finding themselves forced to cut production levels thanks to diminished reserves. Jeremy Leggett, Chairman of Peak Oil Group and the Executive Chairman of the alternative energy company Solarcentury, said that there was still time for the Government to act to protect the country - in the face of such a dooming circumstances - by reducing the economy's dependence on the oil. Mr. Leggett, said on BBC Radio 4’s ‘Today’ programme: “What we are arguing is that the oil industry and oil institutions have been irrationally exuberant about their ability to meet demand going forward, in much the same way that the financial institutions have been irrationally exuberant about their ability to manage complex financial instruments. “When they fail to meet demand, many countries will experience this as an energy crisis. Some will experience it as an energy famine, as producers start to withhold exports,” he added. However Mr. Legett did offer a glimmer of hope to those already prepared to start drilling in their own back gardens. “This crisis is being anticipated; let's do something about it, because we can.” Legett’s rallying cry is for governments to recognise the coming changes, as there is still time for economies to be shaped around alternatives to oil. Earlier this month Prime Minister Gordon Brown told MPs that Britain was trying to increase North Sea oil especially in marginal oil fields and those which have already been explored but are not yet exhausted. At the same time Britain is committed to producing 15% of its energy from renewable sources by 2020. As a consequence of a potential supply crisis, prices will be set to soar to unprecedented levels, belittling the $147 a barrel high recorded on July 11 of this year. More expensive oil will simultaneously push up the rate of inflation because of the combined rising cost of manufacturing and of delivering goods. The rising price of food is likely to bare the wheight of puiblic concern. But, perhaps the U.K. should look upon the contents of the report as an opportunity and not a sentencing. “The current global financial and economic crisis provides a real opportunity for the British Government to lead the world in renewable investment whilst oil and other commodity prices remain suppressed in the short term by weaker demand,” said Will Whitehorn, joint Chairman of the industry group.
  17. jerpy

    Urban Land Army

    Think i'd prefer a raised bed if i had some urban dwelling, than those piddly buckets. But guess some have to start somewhere.
  18. jerpy

    Xstrata

    Good call if you were in today, great spike back up! Mere 25%
  19. Ditto and add the Telegraph recently pointed out to a surge in SAFE sales for storage. The average in and out burglar wouldn't know how to crack and wouldn't be able to lift it if properly secured. So long as you don't shout ownership of one from the rooftops that's another useful insurance policy in itself.
  20. See these should have 3rd qtr results before the market opens on 31st Oct. Maybe there's some clue there? Thought RAB had recently tied investors into their funds, so would they really need to sell now? Riggers
  21. Don't give up i read your predictions all the time out of interest, check the price and come back to see what your next one is
  22. jerpy

    GOLD

    Wouldn't a few countries like India just love that.
  23. jerpy

    GOLD

    Interesting. China’s premier Wen Jiabao told the World Economic Forum’s ‘Summer Davos’ session in Tianjin that boosting sagging sentiment when the markets opened tomorrow would be a priority. ‘‘At this moment, confidence is even more precious than gold or any currencies,” he said. Riggers
  24. Just wonder who David Orr thinks is going to fuel this demand going up he talks about?
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