DontPanic
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Posts posted by DontPanic
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Apologies if this has been asked before but is there a way to buy a tracker for CDNX or junior miners? In a similiar way that GDX (Gold Miners ETF, AMEX) 'tracks' the majors in HUI.
Alternatively which are the best funds which invest in Juniors?
Starvest (SVE.L) is basically a junior miner investment trust which has a portfolio of 20 to 30 investments if i remember correctly.
Looking at the last quoted value it seems to have a very large discount to NAV.
CYN.L invests in larger mining companies than SVE.L
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Some of the U-stocks now have good bases in place.
We could be set for a good-sized upmove
I agree. U buyers are more active in the fall and the U price has stopped falling.
UK and Finnish announcement on new plants could also help.
May take the easy route this time and buy GCL instead of directly in shares.
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Both my main U stocks have now been takenout. Urasia and now most likely Uramin.
My firsthand experience is that utilities and even fuel vendors are still interested in buying but the companies must be relatively small (not Cameco or BHP for instance) and have proven reserves. My strategy of concentrating on small near term producers has worked thus far and i will look to reinvest after takings some profits to buy a quality home cinema system
BTW - What U stocks are you nibbling at Bubb ?
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Nice 12% gain on the day in Canada after Uramin announced it was in talks to sell the company.
China has earlier announced an interest and Areva has a 6% holding so hoping for a bidding war.
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After bobbing along for a while the U stocks took off again today as China sucked up an african U mine -> http://www.forbes.com/markets/feeds/afx/20...afx3735042.html
Hopefully the first of many !!
(UMN jumped 7% on the news
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Well the market has opened.
Not many trades but the June price is $140 compared to the current spot price of $120.
Jan 08 at $151.
Many U stocks up 5% today.
U futures here ->
http://www.futuresource.com/quotes/custom....igh,low,ask,bid
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Nymex futures trading will start in a few days - http://www.ft.com/cms/s/6ba17478-ec4b-11db...00779e2340.html
Anyone want to predict where the price will go ?
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Big news from Australia:
The Australian Labor Party has just overturned their '3 mines' policy on uranium mining on a federal level. This is important because Labor are in control of state governments, which have upheld this on a state level for the last 25 years. The states which will benefit from this the most are South Australia (whose premier is very pro uranium mining) and Northern Territory (which is not strictly a state, as it is controlled by the pro-uranium the federal government). Western Australia and Queensland both have premiers who remain negative towards it.
Looks good for SXR/UUU when the market next opens.
Someone in the know must have placed these big orders just before the bell.
http://www.stockhouse.com/comp_info.asp?dr...bmit=Draw+Chart
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Anyone here own Mega Uranium (CA:MGA)? Popped bigtime yesterday?? Looking for comments on this as its my largest holding and I want to sell into this, what looks like, pending buying frenzy
Many U stocks have been hot the past week as the supply shortage from flooding two major mines becomes apparent and the price shoots through $100.
For specific info on the price jump id check out the Stockhouse forum e.g. http://www.stockhouse.com/blogs.asp?page=v...mp;postID=16040
To gain the most out of U price movements im holding near term producers which can take advantage of the current prices (UMN and SXR/UUU).
It should be a good time for any company which has proven and uncontracted reserves of U.
CCO.TO is moving again but for me it has too many long term contracts at low prices. As more money comes into this area it could move higher as it is probably the least risky Uranium stock.
I bought U stocks heavily last year and have been taking profits since then. I would buy again if there is a general market correction.
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Price is now in triple digits
"The shot heard around the uranium world comes from Corpus Christi, Texas. A modest lot of 100 thousand pounds U3O8, offered by tiny privately owned Texas-based Mestena Uranium LLC, drove bidders to establish a new record spot uranium price. “The spot uranium price rose dramatically this week, jumping $18 to $113/pound U3O8, following the results of the sealed-bid auction,” according to Nuclear Market Review (NMR) editor Treva Klingbiel. “This is the largest single increase since uranium prices were first reported.” The spot uranium price jumped by nearly 19 percent this past week.
Since the beginning of the year, the spot uranium price has risen by 57 percent. By comparison, nickel has only increased by about 35 percent year to date. Nickel leads all metals traded on the London Metal Exchange (LME). In January 2001, spot uranium could be purchased for as little as US$6.40. Since then, yellowcake, industry slang for the processed nuclear fuel, has jumped by more than 1700 percent! According to Gene Clark, chief executive of TradeTech, which publishes Nuclear Market Review, “We are about $2 short of the all-time high in inflation-adjusted dollars.”
Bidders hoping to purchase the Mestena uranium came from all market groups, according to NMR. Uranium producers, traders, investors and utilities bid for the 100 thousand pound lot. Klingbiel gave three reasons for the aggressive bidding: ERA’s recent mine flooding, continued interest from speculators and utilities seeking significant quantities for near-term delivery. New demand from a U.S. utility also emerged in the long-term uranium market this week. The long-term uranium price remains unchanged at US$85/pound. TradeTech posts the weekly spot and long-term uranium price on the consulting service’s website at www.uranium.info. http://www.stockinterview.com/News/0407200...dred.html"
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Another big week for uranium stocks with many now at all time highs.
All mine are up over 10% even in the short trading week.
Current U price is $95.
I think its now a question of when, not if, it goes above $100.
Is it only me on here holding U stocks ?
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Many U stocks got hit hard in the sell-off but they bounced back strongly last week (UMN gained 30%, PDN 16%, SXR 5%)
Having a look at these dramatic pictures it could be another good week for uranium stock -> http://www.stockinterview.com/News/0309200...looded-ERA.html
A few more % of future global capacity underwater.
Uranium price now at $90
http://www.stockinterview.com/News/0311200...-Price-ERA.html
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Some of the U-stocks got it hard yesterday.
This may be the start of the correction that I have been looking for.
But I will wait a couple of weeks before putting the score at: Bubb-1 , Dines-0
Given the recent gains i think they are holding up quite well.
Im heavy on UMN and UUU / SXR which are doing as well as BHP and RIO.
If dines bought as heavily and early as he said i think your are still at least a goal behind but catching up!!
Uranium is an interesting commodity (or precious metal given the current prices).
The demand for it is also immune to GDP and current economic conditions.
If growth in China slows they may hold up better than other mining stocks, its a bit too early to tell since the selling is pretty indiscriminate at the moment.
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There was certainly some profit taking from Uramin on Thurs as soon as it hit the psycological £2.00 barrier, but it did start the week off at £1.47
More drilling results to come at the end of this month.
But the big news is in February from submerged cigar lake mine.
The outcome of that should decide U prices for the rest of this year.
Its interesting that the Galahad Gold stocks havent moved much considering the companies they hold shares in have shot up.
They seem seriously undervalued or am i missing something?
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You all have to remember that there are both large secondary supplies of uranium held by the Russians and the Americans as well as significant stockpiles of so-called "waste" from which MOX can be obained. Secondary supplies are classified information. And this is the most regulated energy market that has ever existed.
You are all engaging in a speculative binge. Not only that, but you are speculating on a fuel that takes even less time to bring to "market" than the new power plants that will burn the fuel in their cores. Once secondary supplies are actually used and MOX is fabricated from waste the bottleneck in the nuclear fuel cycle will be at the enrichment stage. But, as they say, make hay while the sun shines!
MOX fuel is made from reprocessing spent uranium fuel.
There are two operating plants in the World, another almost finished in Japan.
Their order books are full for years in advance.
The Thorp plant at Sellafield in the UK has been shutdown for safety reasons for over 12 months.
You want more capacity?
How long do you think it takes firstly politicians to agree to a reprocessing plant - OK under pressure that could be quick but dont count on it.
Then to build and train the engineers - 10 years minimum.
Japan have also taken years to commission theirs.
Utilities wont invest in new plants at $2Bn each unless the fuel supply is secure.
The U price is soaring because the utilities are securing the raw uranium before announcing plans to build more reactors.
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"There will be an initial margin requirement of about $3500, plus any additional margin, should the price of oil fall by more than $3.50 from here."
I certainly think oil will be above your purchase price in 2012 but its the "additional margin requirement" that worries me in the above sentence.
If oil falls to $30 you going to have to leave a lot of cash on deposit.
How does that work?
I am correct to assume you get 0% interest and its eaten away by inflation ?
Just had another worrying thought, have you had a look at the extraction cost of oil from tar sands etc which are currently uneconomic.
If oil reaches >$100 how many other sources become viable?
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Tracking Junior Miners - Why Are they Underperforming?
in Mining and Precious Metals
Posted
SVE invests in juniors (very junior - pre IPO and some on the PLUS market)
"Starvest plc is a United Kingdom-based company engaged in investments in small companies new issues and supporting of pre-initial public offering (IPO) opportunities. The Company primarily invests in the natural resource sector. As of September 30, 2007, the Company’s trade investment portfolio included Addworth plc, Agricola Resources plc, Ariana Resources plc, Belmore Resources (Holdings) plc, Beowulf Mining plc, Black Rock Oil & Gas plc, Brazilian Diamonds Limited, Carpathian Resources Limited, Concorde Oil and Gas plc, The Core Business plc, Concorde Oil and Gas plc, DTT plc, Franconia Minerals Corporation, Fundy Minerals Limited, Gippsland Limited, Greatland Gold plc, Guild Acquisitions plc, Hidefield Gold plc, India Star Energy plc, KEFI Minerals plc, Lotus Resources plc, Matisse Holdings plc, Myhome International plc, Oracle Coalfields plc, Red Rock Resources plc, Regency Mines plc, Sheba Exploration (UK) plc, St Helen’s Capital plc and Sunrise Diamonds plc."
"Net asset value update at 31 March 2008
The past three months have continued to be challenging; especially has this been so during the last month when market sentiment and small volume selling have adversely impacted the share prices of most of the companies in which Starvest is invested. The overall asset valuation has fallen to the level declared at 30 September 2006, although the tax base has increased substantially given the £1.5m tax liability for the year to 30 September 2007.
More importantly, the Board continues to be well satisfied with the investments currently held and has confidence that, as market conditions improve, the prices will recover. This is particularly true of the majority of investee companies with mineral exploration activities; these continue to make advances in their discoveries of minerals in high demand by emerging economies.
The share price discount to net asset value has widened to 45%, a level of discount not seen since the first quarter of 2007."
Company statistics -> http://www.starvest.co.uk/announcments.html
CYN invests in more mature companies and precious metals
Sector weightings, 29-Feb-08Sector (%) Prev
Resources - Equities 47.0 (3) %
Gold and Precious Metals 38.0 (1) %
Resources - Convertibles 11.0 (2) %
Fixed Interest 4.0 (4)
Largest holdings, 29-Feb-08
Holding(%) Rank Prev Holding (%) Rank Prev
NIDO PETROLEUM LTD 3.2 1 (4)
EUROPEAN GAS 1.8 6 (9)
NEW BRITAIN PALM OIL LTD 2.8 2 (1)
ANGLO-EASTERN PLANTATIONS 1.7 7 (8)
GOLD EAGLE MINES LTD 2.4 3 (3)
HORIZON OIL NL 1.7 8 -
GOLDCORP INC 2.3 4 (5)
KALAHARI MINERALS 1.6 9 (6)
EXTRACT RESOURCES 2.2 5 (2)
ST BARBARA 1.6 10 -
AMBR - Ambrian Capital plc provides corporate finance, stockbroking, commodity broking and investment management services to institutional and corporate clients active in the natural resources and new technology sectors. The core of its business is focused on investing in and providing investment banking services to companies active in the extraction of metals, minerals and oil and gas. Ambrian Partners Limited, the Company’s wholly owned corporate finance and stockbroking subsidiary, was involved in 14 capital raisings during the year ended December 31, 2006. Ambrian Partners is active in six industry sectors: mining, oil and gas, soft commodities, renewable energy, telecommunications and technology. Ambrian Commodities Limited, which was launched in March 2006, is a broker-dealer in aluminum, copper, lead, nickel and zinc, as well as precious metals (gold, silver, platinum and palladium).
Because of the direct gold holdings and larger mining companies CYN has held up fairly well..... SVE and AMBR have tanked.
Graph -> http://finance.google.com/finance?chdnp=1&...;q=LON:SVE&
If the SVE discount stays near 45% arent the shareholders better off winding up the company and asking for their money back ??