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drbubb

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  1. drbubb

    Nov.-Dec. Gold & Gold share thread

    AFTER banging on the ceiling, Gold has finally broken out over $644
  2. drbubb

    Diamond Miners listed on AIM

    that is right. The Diamond gemstones are out there, but not easy to find in good grades. Dozens of co's are now searching
  3. The cheapest ones ten to be in Canada or Australia One I looked at today: Capital Gold is worth a look, but there are many more also. I will try to post a report of some of the dozens of other names, when I next see one
  4. looks like a spam-artist. these are not mining or exploration co's anyone who wants to post a company name here, ought to give a sensible reason, or a chart, as rationale for buying
  5. Small Hydro Power - Investor Guide ... Submitted by Hans on Sun, 2006-11-05 This application note introduces the theory and technology behind small hydro power stations (defined as units below 10 MW). Currently, 17,000 such stations with combined power of 11 GW produce annually 42 TWh of green electricity. The EU's 2010 objectives for this technology are 14 GW and 55 TWh/yr. The guide also covers economic, financial, administrative, social and environmental aspects for small hydro projects. About the author: Bobrowicz, Władysław @: http://www.leonardo-energy.org/drupal/renewables = = Blogs: Sustainable Energy : Blog Electricity : Blog Photoblog # # # # # rising prices for small hydro - this is ireland The price payable if the 1981 price had been fully index-linked is shown by the upper line. The price in 1981 was based on avoided fuel cost plus a bonus for regular winter supply. In 1991, an agreement was reached between the Irish Hydro Power Association and the Department of Energy which based the price on ESB avoided fuel cost, operating cost, avoided transmission losses and a small premium for being green. In the rapid and successful development of wind power in certain EU countries, political price has been a clear winner over political quota. Central to this has been the recognition that the generator must be allowed to make a profit to compare with alternative investments. The concept of a "Profitability Index" is being used increasingly as a basis for tariff structures. The development and the sustaining of small hydro in Ireland could benefit greatly from this approach. ...more: http://www.feasta.org/documents/wells/cont...ven/miller.html
  6. drbubb

    Women on GEI

    Women are welcome, of course but no one who posts Spam (male or female) is welcome
  7. There's a risk I may miss out on today's low prices while waiting for my "mid-December ideal buying opportunity" to arrive. So buying some now may make sense, if you have cash. I am hoping that Gold share prices continue push upwards, and I can liquidate some of my juniors at higher prices, and will have more to invest. The Dec. Tax-selling thread may be worth a look for more specific ideas
  8. I think what was merged in was... only the Unquoted investments So now, Amrian will have a quote for its entire portfolio, raising NAV
  9. Martin Wolf's bearish piece in the FT today? The housing boom will end, but how? By Martin Wolf Published: November 24 2006 For the British, houses are as much gold mines as mere dwellings. Over the past 10 years, real house prices have doubled, while real disposable incomes have risen only 29 per cent. Ratios of house prices to incomes and rents have, as a result, reached all-time highs. Housing made up as much as 53 per cent of the total wealth of UK households in 2005, against 39 per cent a decade before. Can this last? No. Will it end with a bang or a whimper? That is indeed the big question. Given this, what are we to make of a prediction that "sharp falls in real house prices may not come for a year or so, but come they probably will" (emphasis in original)? We should take it seriously, particularly since David Miles of Morgan Stanley, the lead author of the report in question ("UK Housing: how did we get here?"), is an erstwhile adviser on housing finance to Gordon Brown. ........ But, above all, it also depends on expected changes in house prices. The more house prices are expected to rise, the cheaper the effective purchase price also becomes. This last point is central. If people's expectations of future price increases are affected by their recent experience prices will tend to overshoot fundamentals: this is just how bubbles form. ............... None the less, the conclusion is clear: what we are seeing is, in significant measure, an overshoot of fundamentals, in which house prices are being lifted by their own bootstraps. In other words, people now buy houses at historically unprecedented prices because experience has taught them to expect those prices to go ever higher. ........is that the amplification of price movements works in both directions. At some point the real cost of housing will bring price appreciation down. When that happens adaptive expectations will go into reverse and so generate price falls. ......So how disastrous would such falls be? On this the study is sanguine. It argues that the impact on consumption is modest, in both directions, because higher prices make purchasers worse off to the same extent as they make owners better off. The big point is that higher house prices cannot make society as a whole better off. They merely redistribute income from the young to the old, which is socially destructive. Yet lower nominal interest rates make purchasing appear more affordable, .............. Affordability, thus measured, does remain below levels reached in the early 1990s, ..............That is surely one reason for higher demand and so prices. The implication of this is that prices may stay high. But it also means that purchasers may have contracted to pay a far higher real amount than they realise. If so, this will prove a painful long-term burden upon them. The question, above all, is not whether the boom will end, since it must, but how. Will real prices stabilise, or fall? I suspect that the answer will indeed be the latter. But, as the study notes, nobody can possibly know when or by how much.
  10. MORE MICROPOWER companies are emerging... With sales pitches like this: "Equinox Energy is a friendly and efficient family owned company. We are DTI accredited and specialise in the design, supply and installation of top quality renewable energy systems for both domestic and commercial applications. If you choose Equinox Energy you won’t have to pay the costs of an expensive High Street presence or for commission hungry sales representatives but you can arrange for our experienced surveyor to visit you or the site in question to establish the feasibility and options for your project. We make a charge for this service but we will refund the amount against any subsequent order. Harnessing the power of the sun or wind our systems reliably generate clean renewable electricity. We are based in the South of England and we are able to operate throughout the UK. Equinox Energy solar powered Photovoltaic (PV) systems have no moving parts and are reliable, almost silent in operation and virtually maintenance free. We offer innovative and aesthetically pleasing solutions for pitched roof, flat roof and ground mounted PV systems. Our Proven Wind Turbine installations provide robust, elegant and powerful renewable electricity generators. We are justifiably proud of each and every one of our installations. Both our PV and Wind Turbine systems are available in a wide range of sizes." ...MORE: http://www.equinox-energy.co.uk/
  11. This could be good- The Canadian Trusts. I Like these ... US-quoted ones: TRUST COMPANY========= Symb. $ MktCap +P/E +Div/$Price : Yield% Pr/ERF Pengrowth Energy Trust (PGH) $ 3.31Bn 8.31 2.16/$17.97 : 14.90% 0.36/.48 PrimeWest Energy Trust (PWI) $ 1.76Bn 17.4 2.61/$21.01 : 12.50% 0.45/.60 Fording Canadian Coal. (FDG) $ 3.06Bn 5.25 2.88/$20.80 : 13.80% 0.45/.71 CONSIDERING these also: --Energy-- Ausum Energy (t.AUZ) Birch Mountain (AMEX: BMD) Derek Oil and Gas (V.DRK) Grove Energy (v.GRV) Harken Energy (HEC) Truestar Pet.(v.TPC) --Mining-- Alto Ventures (v.ATV) Caledonian (t.CAL) Kenrich Eskay (V.KRE): MacMillan Gold (V.MMG) Northern Lion (v.NL) Queenstake Res. (QEE) VanGold Resources (V.VAN) --GreenEnergy-- Beacon Power (BCON) Plug Power (PLUG) : 159442 --UK, timing not right-- Nautical Petr. Quadrise
  12. WHICH ONE is the Kahuna?? TRUST COMPANY======== Symb. $ MktCap +P/E +Div/$Price : Yield Enerplus Resources Fund(ERF) $ 5.49Bn 10.1 4.46/$44.71 : 10.00% Pengrowth Energy Trust (PGH) $ 3.31Bn 8.31 2.16/$17.97 : 14.90% Penn West Energy Trust (PWE) $ 7.48Bn 8.48 3.65/$31.60 : 11.60% PrimeWest Energy Trust (PWI) $ 1.76Bn 17.4 2.61/$21.01 : 12.50% Provident Energy Trust (PVX) $ 2.27Bn 9.91 1.26/$10.87 : 11.60% - - Fording Canadian Coal. (FDG) $ 3.06Bn 5.25 2.88/$20.80 : 13.80 - - Fording - Coal (FDG) Canadian Trust Triage John Dobosz 11.02.06, 5:15 PM ET Investors in Canadian income trusts found out the hard way on Wednesday that there is nothing uniquely American about breaking campaign promises. Canada’s finance minister, Jim Flaherty, despite his party’s pledge less than a year ago not to impose additional taxes on the trusts, announced late Tuesday that the government proposes to tax trust distributions at regular corporate income tax rates--effectively eliminating the chief advantage of the trust structure as a flow-through entity. The resulting bloodbath for trusts in Canada, including more than a dozen specializing in energy that also trade on exchanges in the United States, has left investors wondering what to do now. Most advisers who have recommended trusts in the past say it’s too late to sell--and at least one recommends fresh buying. Feast on Fear. ((Click here for Richard Lehmann complete list of buys for Canadian royalty trusts with yields now north of 15%...in Forbes/Lehmann Income Securities Investor. )) “I feel the market has overreacted to a situation that is not a done deal,” says Curtis Hesler, editor of Professional Timing Service, referring to the 12% to 15% haircuts many of the trusts took on Tuesday. Under the Flaherty proposal, existing trusts would be given an exemption from paying any modified tax until 2011. Hesler holds eight Canadian trusts in his model portfolio and recommends waiting until the smoke clears before making any moves. “Panic causes mistakes, and selling does not seem prudent at this point, nor does additional buying until we see what we are up against. I will be very surprised if we don’t see some serious defense brought to bear by both Canadian industry and the electorate.” For the past several years, Hesler and many other advisers had been big bulls on Canadian “royalty trusts,” which own or lease oil and gas rights and collect royalties from producers, which they pay out to shareholders. The payouts are considered qualified dividend income for U.S. investors and subject to only a 15% tax. The Canadian government withholds 15%, but U.S. investors can claim an offsetting tax credit on their Federal tax return. The dividends are not taxed at the corporate level, but only when they’re received as income by unit holders. Richard Lehmann, editor of the Forbes/Lehmann Income Securities Investor, agrees that implementation of the Flaherty proposal is anything but assured, noting two abortive attempts since 2004 to change tax laws pertaining to trusts in Canada and the proposed grace period until 2011 for existing trusts. “Our thinking is that five years is a long way off, and political pressure will likely delay the tax further or kill it altogether," he says. Special Offer: Have you already sold your Canadian trusts and are now looking for investments that kick out similar income? Click here for big yields from a technology business development firm in FindProfit. Lehmann, a big proponent of ‘Canroys’ since 2003, is busy adding more to his holdings as prices plummet and yields skyrocket. Harvest Energy Trust (nyse: HTE - news - people ), for example, now yields 15.6% after losing 20% of its value in a day and a half of trading. Lehmann is also buying Canetic Resources Trust (nyse: CNE - news - people ), which yields 13.5% after getting hammered 22% lower than its Oct. 31 close. Other Canadian trust casualties in which Lehmann finds yields too tempting to pass up include Provident Energy Trust (nyse: PVX - news - people ) at 13.7% and Penn West Energy Trust (nyse: PWE - news - people ) at 12.7%. "You'd be hard-pressed to find these kinds of yields even on junk bonds," says Lehmann. Jack Adamo, editor of Insiders Plus, was tempted to buy Fording Canadian Coal (nyse: FDG - news - people ), but he’s holding off for now. What concerns him is not so much the Flaherty proposal--he doubts that it will pass--but the steel industry. “Fortunately, most of the developed world now understands that you can’t abuse business and expect it to thrive,” he says. “I want to talk with the company first, and I want to see a few more earnings reports from steel companies,” says Adamo. “So far, it looks like steel is going into a downturn at the same time the stock market is losing momentum. That could make Fording vulnerable to further weakness in the short term, since it sells its coking coal directly to the steel industry.” The bombshell out of Ottawa, Canada also lit up the message boards at online investing community ValueForum.com, where members feverishly discussed at what price royalty trusts would be a good buy. Ron Lane of St. Augustine, Fla., one member who’s heavily invested in a handful of trusts, says he’s avoiding selling his holdings into the current weakness. “The lemmings got out yesterday,” he says. “Fortunately, we’ve been in these for the past three and a half years, so we’re still sitting on gains. I’ll see what happens.” Meanwhile, Lane says he's going to step up his buying of closed-end funds with yields around 8%, as well as check out some business development companies like American Capital Strategies (nasdaq: ACAS - news - people ). @: http://www.forbes.com/2006/11/02/canroys-p...artner=yahootix
  13. The Gold price tends to be highly seasonal, and in something like 8 years out of 10, it is possible to buy gold mining stocks in mid-to-late August and see very handsome returns within 6-8 weeks. Seasonal Gold Chart It looks like this may be possible again in August 2006, and I am beginningh to compile a Watchlist of possible BUY candidates. Here are a few: American Bonanza (v.BZA) : update : D-6mos Glencairn Res..... (t.GGG) : update : D-6mos : at $0.62 or less Grayd Resources. (v.GYD) : update : D-6mos Mustang Minerals (v.MUM) : update : D-6mos MORE Stock names and charts will begin to appear on this thread in the coming days. If you have any stocks that you would like me to look at, please post the names and symbols here. Note that I am primarilly looking for Canadian and US listed stocks. When the promotional machines start up, we can see some handsome moves in these stocks
  14. drbubb

    Nov.-Dec. Gold & Gold share thread

    IMPORTANT Resistance level. I just noticed that the gold shares (GDX) have bounced back to an important level For the Bull's sake, it needs to power through here on big volume next week. If it fails to do so, Gold shares may begin a renewed slide. Yesterday was a "half day", so perhaps Friday's volume was not so meaningful, but I would like to see more. I did some significant selling/ profit-taking yesterday. Nest week's action will tell if I should have done more
  15. What will become of the banks,,, with all the bad loans? Somehow it doesnt seem fair that the bankers will avoid the consequences of this irresponsible lending
  16. drbubb

    Late August Watch-list

    Glencairn (GGG.v) is not a pretty chart I'm not long it, but Frizzers has mentioned this on another thread, so thought I should discuss it here. When I saw the chart, my reaction was that there must be some bad news. It looks like it is falling to support at $0.47-48 There's some panicky sentiment on Stockhouse "SUBJECT: out for good Posted By: quickmoney Post Time: 11/15/2006 10:35 I kept waiting quarter after quarter for what was promised to be profitable quarters and heard delay after delay. Huge cash cost. If gold comes down in price, there really is no company left. They would have to shut down. I'm out permanently with a loss. I hate that " = = Management was selling (at higher prices) back in Sept: Sep 13/06 Sep 08/06 Gareau, Michael Bernard 10 - Disposition in the public market Common Shares -30,000 $0.720 Sep 13/06 Sep 07/06 Gareau, Michael Bernard 10 - Disposition in the public market Common Shares -10,000 $0.730 Sep 08/06 Sep 05/06 McDonald, Ian James 10 - Disposition in the public market Common Shares -30,000 $0.710 Sep 08/06 Sep 05/06 McDonald, Ian James 10 - Disposition in the public market Common Shares -370,000 $0.700 Sep 08/06 Sep 06/06 McDonald, Ian James 51 - Exercise of options Common Shares 200,000 $0.300 Sep 08/06 Sep 06/06 McDonald, Ian James 51 - Exercise of options Options -200,000 $0.300 @: http://www.canadianinsider.com/coReport/allTransactions.php THOSE WHO listened to the Co. conference call, were somewhat comforted: "just listened to Glencairn's conference call this morning to get a feel for the new management. Overall, they sound like they have their act together. Some points that I thought were particulaly interesting. * Estimated gold production at this point is projected to double over the next 3 years as follows: 90,000 oz (2006) 127,000 oz (2007) 142,000 oz (2008) 179,000 oz (2009) * Glencairn has an aggressive exploration program in place and we can expect to hear additional news on a regular basis in the months ahead as they update their estimates of total reserves. Overall, it sounds like there is potentially a lot of additional gold that has not already been factored into the current estimates. * Management acknowledged that they were a bit surprised at the amount of investment that was required to bring the Libertad mine up to speed; however, most important, they had planned to capitalize this expense (rather than having to take the hit in Q3) * Moving forward, the accelerated stripping and upgrades to equipment and operations are mostly completed (continued in October, but it sounds like they are mostly done) @: Stockhse. BB on GGG (posting dated 11/21): What Happened? • Another losing quarter. Glencairn reported a Q3/06 loss of $0.01/sh and negative cash flow of ($0.01)/sh, below our estimates for earnings of $0.03/sh and cash flow of $0.04/sh. While gold sales increased slightly to 22,787 ounces and the realized gold price was $618/oz, total cash costs rose sharply to $555/oz compared with $344/oz in Q2/06. • Cash costs were very high at La Libertad, while other operations underperformed. The main difference in the quarter related to the addition of production from La Libertad mine in Nicaragua,which contributed 6,036 ounces at total cash costs of $914/oz. The other operations fared better but still performed well below expectations. Bellavista experienced lower recoveries due to a delay in the completion of the grinding mill, while Limon throughput and recoveries slipped. What Does it Mean? • Work is underway to upgrade operations, but it will take time: full production at La Libertad nd contribution from the Mestiza property to the Limon mine are not expected to take effectuntil mid-2008. Libertad in particular requires extensive operating and capital expenditures ($10 million) to return mining operations to a normal level
  17. Not a pretty chart Let's discuss GGG on the Aug.Watchlist thread
  18. drbubb

    Questions To Ask A Miner

    ((PERHAPS a real life example might be worthwhile- My broker has asked me to take a look at Condor Resources- CN.v- and I shall record my notes and some reactions here... editing this post)) Company: Condor Resources : Link to CN.v's page on Stockhouse "Early stage exploration in Chile on Gold and Copper projects- listed March 2006" There, I see: v.CN's chart : Last : C$0.570 MarketCap: C$6,582,899 /on 11,548,946 shares OS (There's not a huge weight of marketcap to move, if they have good drill results) The company is currently looking to raise $1.5 million thru: "up to 3,000,000 Units at a price of $0.50 per Unit, with each Unit consisting of one common share and one transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share of Condor at a price of $0.70 for a period of 18 months." (which is why my broker called, suggesting that I have a look) Next Step, look at the Corporate Website: www.condorresources.com there, I see: + Issued and Outstanding 11,548,946 / Fully Diluted Shares 13,135,196 (at Aug.31, 2006) + Presentation : http://www.condorresources.com/investor/condor.pdf + IPO-ed in March 2006 at $0.40 + Flagship properties (Escudo and Corona) were acquired thru staking in 2003 (I like the fact that the company generates its own projects, and acquired them cheaply, thru staking) PROJECTS: Escudo Copper: identifed anomolies in good structures Corona IOCG : gold project, with historical workings Cristal project: covers a classic porphyry copper target in northern Chile near the border with Peru and 70 km northwest of the port city of Arica. JV-ed with Peregrin Metals (doing IP survey) Patrick J. Burns, President – Member of the discovery team and first project manager at Escondida, Escondida Norte and Zaldivar porphyry copper deposits – Discovered the San Cristobal gold deposit – 25 years of experience in Latin America (17 in Chile) – Extensive South American contact base Checking: on Google INSIDER transactions: Minor selling by Pat Burns (at higher levels) back in April-May May 05/06 May 04/06 Burns, Patrick James 10 - Disposition in the public market Common Shares -1,500 $1.120 May 05/06 Apr 25/06 Burns, Patrick James 10 - Disposition in the public market Common Shares -2,000 $1.100 May 05/06 Apr 25/06 Burns, Patrick James 10 - Disposition in the public market Common Shares -3,000 $1.050 May 05/06 Apr 24/06 Burns, Patrick James 10 - Disposition in the public market Common Shares -3,000 $1.080 May 05/06 Apr 21/06 Burns, Patrick James 10 - Disposition in the public market Common Shares -10,000 $0.900 ...more...
  19. (From the "Questions for Miners" thread, but worthwhile here too): Talking to Mining, or Exploration companies, I like to ask: 1/ What is the market cap ? 2/ What percentage does management own, and what was their average cost?# 3/ Who are the otehr major shareholders? 4/ what was the price, size and timing of the most recent financing? (The above will give you a good idea of the strength and motivation of the management and controlling interest.) 5/ What are the major projects? (history, work done, work planned) 6/ What is the valuation? (Establishing valuation will typically mean, learning about the size of their respources and reserves. For example, if it is gold: How many ounces? What is the grade? What is the metallurgy? If not yet in production, will it be an open-pit or underground mine? What is the cash cost, and, if in development, likely cost of building the mine. This will help to an idea of how to slant a calculation like: Market Cap per ounce. It is usually not a good idea to invest in a company that has a Market Cap of more than $10 million, and no resource.) 7/ What are the plans to develop the projects, and what will it cost? 8/ What is the timing of future news? 9/ What are the company's promotional plans? 10/ The background and track record of management and the directors is very important obviously. The answers to the above questions, will help give you an idea of how to probe further.
  20. drbubb

    Questions To Ask A Miner

    Talking to Mining, or Exploration companies, I like to ask: 1/ What is the market cap ? 2/ What percentage does management own, and what was their average cost?# 3/ Who are the otehr major shareholders? 4/ what was the price, size and timing of the most recent financing? (The above will give you a good idea of the strength and motivation of the management and controlling interest.) 5/ What are the major projects? (history, work done, work planned) 6/ What is the valuation? (Establishing valuation will typically mean, learning about the size of their respources and reserves. For example, if it is gold: How many ounces? What is the grade? What is the metallurgy? If not yet in production, will it be an open-pit or underground mine? What is the cash cost, and, if in development, likely cost of building the mine. This will help to an idea of how to slant a calculation like: Market Cap per ounce. It is usually not a good idea to invest in a company that has a Market Cap of more than $10 million, and no resource.) 7/ What are the plans to develop the projects, and what will it cost? 8/ What is the timing of future news? 9/ What are the company's promotional plans? 10/ The background and track record of management and the directors is very important obviously. The answers to the above questions, will help give you an idea of how to probe further.
  21. Weekly Review MS does a weekly review of various markets. This came from last week's Review: That Was The Week That Was … In London ... By Henry Sandford A bit of a mixed bag of a week, with the junior market as a whole taking a hit from a crash in the value of First Quantum Minerals, but with reasonable gains being seen in other places. A bit of a mixed bag of a week, with the junior market as a whole taking a hit from a crash in the value of First Quantum Minerals, but with reasonable gains being seen in other places. First, to First Quantum Minerals, the mid-tier African copper producer. The shares (AIM: FQM) plummeted 18 per cent to 2375p, wiping more than £300 million off the company’s market capitalisation. The rout was initiated by the release of First Quantum’s third quarter results, which revealed a significant rise in costs. Group cash costs and total costs were US$0.90 per pound and US$1.13 per pound respectively, compared with US$0.64 per pound and US$0.87 per pound for the third quarter period in 2005. This seemed to outweigh recent positive developments, such as the commencement of commercial production from the Guelb Moghrein mine in Mauritania. Two other mid-tier companies in the gold sector also suffered, though for different reasons. Bema Gold fell by 8.1 per cent to 565p despite being in receipt of a bid from Kinross Gold. Clearly a bit of over –excitement prior to the announcement. Yamana Gold also fell by 3.6 per cent to 267p after a period of acquisitions. Analysts now seem to think that a period of quiet reflection is in order. Why this company listed on AIM is a complete mystery as it is Canadian through and through. MS also wrote about: Other shares on a downswing included: Eureka Mining (AIM: EKA), which suffered a loss of 23 per cent to 38.5p... Oxus Gold (AIM: OXS) shares dropped 28 per cent to 26.5p... Better performers: AIM Resources (AIM: AIMR) shares moved ahead 22 per cent to 10.25p... Angus & Ross (AIM: AGU) shares gained 12 per cent to 18.75p... Avocet Mining (AIM: AVM) shares advanced 12 per cent to 111.65p ... Shares in Gravity Diamonds (AIM: GRN) gained 10.5 per cent to 10.50p... Pan African Resources (AIM: PAF) shares climbed 25 per cent to 6p... ...MORE: http://www.minesite.com/minews/singlenews/...ndon-46/41.html
  22. I wish I could claim those trades! My buy point may have come just a little later, when it crossed the MA's from the bottom up, and then stabilise. I step to sell in stages, and get get more aggressive, as a stock rises on lighter volume- suggesting the momentum is flagging = = Sorry about the confusion on TM. Looks very attractive with those features
  23. How Much Is Copper Worth In The Ground? By Rob Davies Metal prices might have eased off a little last week, but it hasn’t stopped corporate financiers from putting together mining deals. The most recent one is the takeover of Phelps Dodge by Freeport-McMoRan for US$37billion in cash and shares. Phelps was vulnerable after it failed to rescue Inco from being bought by CVRD in the summer and it hasn’t made the most of this bull market because of poor hedging. These deals are always interesting, apart from the potential to make money, because they put a definitive valuation on assets which do not come on the market very often. Here, the key assets are mines and the reserves that go with them. Valuing mines, particularly producing ones, is a combination of valuing the cash flow and the ore reserve. But you can’t get one without the other. In the case of Phelps Dodge it last published its ore reserves in its 2005 accounts and, on a quick calculation, amounted to 25 million metric tonnes. Taking a copper price of US$6,000 a tonne, a slight discount to current prices, that gives a gross value of US$150,000 million to that metal in the ground. Freeport has agreed to buy Phelps Dodge for US$37,000 million in cash and shares or roughly a quarter of the gross value of the metal. Put another way, it is paying about US$1,500 a tonne, 70 cents a pound, for metal in the ground which it then has to mine, process and sell. ...MORE: http://www.minesite.com/minews/singlenews/...e-ground/1.html
  24. drbubb

    Diamond Miners listed on AIM

    Mostly gemstones, obviously No junior exploration company is out looking for "industrial" diamonds
  25. welcome "ROYALTIES! As far as I know, RCO is the only listed ASX company with a focus on both royalties and exploration. " A bit like BMGX, one of my favorites We just need a chart now... to put the story into context
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