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Everything posted by jerpy

  1. So is this not the time to start looking for bargains or real long term plays? Keeping an eye on Thorium power, only 8 employees but a uranium play that may have gone past the despair point, but long term story to be unfolded if you can wait i guess Riggers
  2. jerpy

    Mining in Vietnam

    Saw something somewhere saying drilling had been disappointing, might have been on another b.b though, so pinch of salt and all that. Riggers
  3. jerpy

    Condor Resources PLC

    Condor's Maiden Resource at the El Cacao Prospect, Nicaragua was announced on Friday, with a people chasing the shares up it would seem prior to the announcement below. Highlights • Maiden resource calculated to JORC Inferred status of 41,000 ounces gold • The mineralised structure is open along strike in both directions and at depth below the current level of drilling • Signs of three parallel mineralised structures are apparent and will be tested further within the coming months. • Gold grades of up to 88.75g/t gold over 2.6 metres and 6.05g/t gold over 14 metres width. Condor Resources Plc (AIM:CNR) is pleased to announce a maiden resource for its El Cacao Project of some 41,000 ounces of gold to JORC Inferred category. This supplements Condor's more extensive El Salvador resource base and brings the company's global resource base up to 788,000 ounces of gold and 22.3 million ounces of silver. Condor's Chief Executive, Mr. Nigel Ferguson, stated: "I am extremely pleased to announce this maiden resource from our project in Nicaragua. The El Cacao Project has produced an initial maiden resource that in our opinion can quickly be built on through further work on the additional, plus 2,000 metres of strike potential which is as yet untested. The Company has discovered low grade mineralisation some 1,500 metres to the west beneath cover, which appears to be the western strike extent of the El Cacao structure." Reading around a few people were disappointed as it was something of an hiccup to quote a reliable source, but only in the context it requires more work. There is a further update from the company due in a matter of a few weeks or so, at which point more clues may be yielded and any possible fund raising should get clarified after this presumably, which maybe will make it better to judge the effect of any possible share dilution. As pointed out at the start of the thread, their is also El Salvador to be resolved later down the line and the company remains bullish on this happening along with the improvement of share price in the future. Riggers
  4. Just noticed a preliminary approach in for Mercator Gold. Riggers p.s strong suspicion it was shorted down.
  5. jerpy

    Condor Resources PLC

    Whilst i sit patiently awaiting news, found this interview on google search, out of date slightly, but talks through their business manner and dealing with national governments. Quite interesting. http://www.executivetv.biz/nigelferguson/ Just deciding whether to pile in whilst it still looks low and news pending, ho hum getting splinters trying to make my mind up Riggers
  6. Mexican to join FTSE 100 invasion Evening Standard 11 April 2008, 1:47pm The landslide of giant foreign mining concerns floating on the London stock market is about to see yet another company that few investors have heard of being included in the FTSE 100 index. The world's largest silver mine, Fresnillo, located in Mexico, is set to list up to a third of its shares in London in an offering that could value the company at up to £4bn. Depending on the timing of the float, the state of the stock market and the current soaraway price of silver, Fresnilla could be in the Footsie by the summer. If Fresnilla gets into the blue-chip index, it would just be the latest major overseas concern to join, threatening to weight the FTSE 100 ever further toward the natural resources extractive sectors - mining and oil - and to companies with very little, if any, link to the British economy. Yesterday, New World Resources, a giant Silesian coal mining concern, firing up the steelmaking boom in central and eastern Europe, said it aims to float soon in London. Its initial public offering could see it valued at up to £4bn, big enough for it to join the Footsie. I'm also watching this and would appreciate any info as to how to jump on board. Riggers
  7. Just watching this with interest at the moment, but wonder if anyone has opinions. Noticed yesterday it got hammer treatment on the back of a rumour current drilling was going to bring bad news. Apparently there was substance to this as today's RNS indicates difficulties, see web site(rather than cut and paste), it's all in the detail. http://www.fronteraresources.com/ These were around £1.00 yesterday, dipped to early 60's first thing this morning. Riggers
  8. jerpy

    Condor Resources PLC

    Found this posted over on ADVFN for anyone interested in a fairly concise piece, it's slightly out of date with latest drilling news, but world mining journal article gives a bit of history and prospects. http://www.condorresourcesplc.com/admin/Pr...mber%202007.pdf Riggers
  9. jerpy

    Condor Resources PLC

    From yesterday's RNS: The Company was notified on 31st March 2008 that CIM Special Situations Fund Limited had sold 2,000,000 ordinary shares in the Company on 20th March 2008 and that CIM Special Situations Fund Limited had sold a further 6,750,000 ordinary shares in the Company on 25th March 2008. Following the above disposals, CIM Special Situations Fund Limited no longer has a notifiable interest in the ordinary shares in the Company. The Company was notified on 31st March 2008 that KEY Special Situations Fund Limited had sold 500,000 ordinary shares in the Company on 25th March 2008. Following this disposal, KEY Special Situations Fund Limited no longer has a notifiable interest in the ordinary shares in the Company. Both the CIM Special Situations Fund Limited and the KEY Special Situations Fund Limited are managed by CIM Investment Management Limited. Could this be the large seller clear? Another 2 million sale went through today, but once it did the price lifted considerably. With momentum and interest gathering following the upbeat RNS it could be both a good short term play waiting for the assay results and maiden resource statement to follow; whilst also long term potential. Watching for large sellers tomorrow, but if it's just a few p.i's taking quick profits, could indicate interesting times for this one and perhaps oversold as many that follow suggest. Riggers
  10. jerpy

    Condor Resources PLC

    Moving up nicely, sorry if others see this as a ramp, yes did buy more yesterday, just highlighting the chance for others to consider at low-ish bombed out levels. Huge spread downside 2.50/2.00 bid/ask Not totally confident as haven't had all my doubts answered, but just think good news around the corner and given me some confidence. Riggers p.s Conrad thanks for posting this one up. EDIT: Blink and you would have missed this mornings move, best wait for RNS before i get too excited
  11. jerpy

    Condor Resources PLC

    Any more thoughts since your first post, sorry for keep asking questions, just trying to understand before by my standards i start diving in. Riggers
  12. Found this whilst tracking information, looking for next bounce. http://www.proactiveinvestors.co.uk/pdf/eln.pdf Riggers
  13. jerpy

    Condor Resources PLC

    Conrad, Just seen elsewhere that Paul Curtis a major stakeholder added to his stake last week, despite the disappointing s.p reaction. He's posted on ADVFN his reason for doing so was an expectation of good assay results on EL Cacao to come and Nicaragua permit problems seem to be nearing an end. It's encouraged me and i've bought in. Would be interested if you view things as turning, presumably results were previously not as good as some thought, add permit delays and market sentiment i guess it adds up to a share price underperforming? Are you in these Conrad, i'm hoping i might have got in at the right time? Riggers
  14. jerpy


    Found this article interesting. Small extract from 20th March 08. Much of the selling in gold was due to a giant macro hedge fund that had to sell positions in order to meet investor redemptions. John Meriwether, who if you remember was the guy who set up the Long-Term Capital hedge fund that blew up in 1998, apparently faced huge redemptions yesterday in a group of billion dollar hedge funds. His Relative Value Opportunity fund suffered a 24% loss in its fixed income fund. He also has a billion dollar macro hedge fund down around 9% this year. It is likely that he had to sell gold and commodity positions in this fund to meet redemptions or get off margin. I believe this contributed to the sharp drop in gold and gold stocks yesterday. However, remember that I was talking about a likely correction over the weekend, so a drop was likely anyway due to the charts. Oil stocks in particular were very vulnerable going into this week. That wasn't the only news that swamped the market yesterday. Thornburg Mortgage revealed that it has to raise at least $948 million in the next week in order to stay in business. This remains a very dangerous and volatile market. Although the market is oversold and could hold the 1270 support level on the S&P 500 for a few weeks I believe that this level is eventually going to be breached and I expect that event to lead to a panic waterfall decline in the market. The longer the S&P 500 stays above the 1270 support level the worse the drop will be once it eventually closes below it. The selling in gold and commodities is not a sign that all is well, but is simply the start of the deleveraging of hedge funds that will climax in a sharp market drop that will mark the end of this bear leg that began back in October. Once it ends I expect gold stocks to resume their leadership of the market for the rest of the year. http://www.safehaven.com/article-9737.htm
  15. All this talk of a U.K property crash "American style", not according to the telegraph's Liam Halligan "It's reckless to live one's life on the assumption that house prices will keep spiralling upward. And, as price growth slows, then flatlines, and perhaps goes slightly negative for a while, a few profligate folk will feel financial pain. But - I repeat - there is a world of difference between a lower rate of growth and a 30 per cent drop in house prices themselves. And while headline writers often miss this, a fall in the rate of growth is what we're now seeing". So this is a perfectly noraml correction of over hyped markets? Hmm, but why are we in the U.K so different? Well Mr Halligan argues "while US house prices are dropping fast (by 10 per cent a year on some measures), the market here is very different. For one thing, sub-prime mortgages have recently accounted for around a quarter of new US home loans - a share six times greater than here. In the States some disgraceful loans were extended, with deeply punitive clauses applying after low introductory "teaser" rates. That's one reason mortgage arrears are now rising fast in America - but, again, not in Britain. The US is also suffering from sharply rising unemployment, causing the distressed sales that spark plunging house prices. Unemployment in Britain, in contrast, continues to fall. But the main difference is that the US has recently hosted a massive housebuilding boom. So have Ireland, Spain and other countries experiencing sharp price falls - because home supply exceeds demand. Here, the opposite applies. We need at least 250,000 new houses a year to meet the needs generated by smaller families, immigration and so on. Yet housebuilding slumped to 162,000 in 2001 - the lowest since 1924. And last year the figure was still only 175,000 - with the trend now, once again, pointing down. And that ongoing mismatch between supply and demand is likely to keep house prices relatively firm". Sorted then, we need more homes, so there just can't be a massive drop in price....or can they? See full article for those interested http://www.telegraph.co.uk/money/main.jhtm...3/ccliam123.xml Riggers
  16. jerpy

    Condor Resources PLC

    Hi Conrad, These interest me because they are getting hammered yet from the latest Ph2 Nicaragua update i noticed this, which got my attention: "Assay results are pending from the last five drill holes, and as soon as these have been returned a maiden resource calculation will be undertaken. These results are expected by the end of March and the maiden resource estimate is expected soon after, at which time Condor will make an announcement on its findings". Days away from a maiden resource statement and the shares are tanking, i'd be interested if you have any views on why this keeps going down, because i'm tempted to go for a speculative punt at these low levels. Do they need cash? Riggers
  17. jerpy


    Given where the Dow is now, maybe they should have held their nerve longer?
  18. Curious was tracking this one, nearly invested at 0.50, wasn't sure, kicked myself when it rose, now i'm pleased i was cautious. Really trying to understand it, the last news seemed positive enough so what caused the drop? Is this just bad markets? Riggers
  19. jerpy

    The BP thread

    Once again BP has fallen back and is 8% down on the year, perhaps time for another bounce on the back of long term production commitments until 2020? Any views looks another rise on the cards? Riggers
  20. jerpy

    Beartooth Platinum

    Frizzers, Educate me if you don't mind. This looks long overdue or would you still regard this normal? Don't hold but watching with intrigue and trying to second guess outcome. Riggers
  21. Interesting RNS on BRR. Don't hold these but from their statement, there seems to be some significance in this piece of information "Completion of our first quarter's production confirms that our exclusive license for the ConRoast process can provide emerging PGM producers with an economic alternative for smelting their concentrates with significant levels of chrome. It further demonstrates that the process is efficient, economical and environmentally friendly". My first thought was they had planned a 10mw smelter, but i'm trying to understand there seems to be some kind of different significance about this? Is it revoloutionary, does it give them an edge? Will this affect others in the sector, do they need to embrace this sort of technology? Anybody help me out here?
  22. NEW YORK/LONDON, Feb 15 (Reuters) - Platinum surged 3 percent to hit a record high for the 12th successive day on Friday, with acute power problems in top producer South Africa encouraging investors and consumers to buy up the metal. Spot metal hit a high of $2,060 an ounce before easing to $2,050/2,055 by 2:59 p.m. EST (1959 GMT), against $1,997/2,007 in New York late on Thursday. It has jumped more than 34 percent this year on the top of 37 percent gains recorded in 2007. "It's panic, panic, panic. If you are a platinum consumer, you are not going to sleep at night," said Robin Bhar, metals analyst at UBS Investment Bank. "The price move shows you the unprecedented nature of the market. People can see actual physical shortages somewhere down the road and prices moving away from them. It's not a case of just speculation. There is genuine demand coming through." The article highlights the platinum deficit could widen to "400,000 to 500,000 ounces by the end of 2008, compared with about 265,000 ounces in 2007. The market had a surplus of 65,000 ounces in 2006 following seven successive years of deficits". But to give balance it highlights some traders have concerns and suggests there could be a pullback of up to $200 ""We already know that platinum is a news-driven market. It's all coming out of South Africa. If everything stays the same right now, and if the shortfall is not going to get greater, this market will not go substantially higher," said Ralph D'Esposito, NYMEX floor trader with RJ Futures in New York.
  23. Crikey jaguar, i'm going to have to read this all weekend and some, but i did say you should post more! I'm interested and will ask questions, my first instinct on reading is bomb out potential, second is timing similar to your comments on MGU, they were cheap at $.20, but having watched a few weeks are even cheaper at $.15! Thanks and reading on. Riggers
  24. Ace, Know you posted these have since risen, but have you seen the article on Palladium, i've just posted on the palladium fund thread, looking for others insight. Asked for comments. Maybe it should be re-named Palladium thread instead of Palladium fund? Riggers
  25. jerpy

    Palladium Fund

    Just when i was getting interested in palladium, up pops an article to curb my enthusiasm! The crux of the article is platinum and palladium according to the author are not linked. Whilst Palladium is about to stall due to high inventories, which obviously may have a knock on effect in those companies which i have been researching involved in production or even early stage prospecting due to sector sentiment. Full article: http://www.resourceinvestor.com/pebble.asp?relid=40500 Any comments Riggers