Friday, June 27, 2008
Minera Andes MAi.to (TNR Gold TNR.v) Exploration program increases the size of the Los Azules porphyry copper target
Thursday, June 19, 2008
Today is proof that these people are running scared. Their target today is a message that their time has come to an end. Add to that the arrest of the Bear Stearns Hedge Fund managers for not correctly marking down their holdings and informing their investors. These events have to put these people that are committing bullying, illegal and unethical activities in the crosshairs of investors, management and the law.
Soon there will be no place to hide, no place to run and the name Anonymous has done them no good at all. The name Anonymous may well be their eventual undoing as illegal activities using such a means confirms their devious undertakings.
The major underestimation by these hedge fund operators is the nature of the old-line junior mineral management. When you push them hard they will push back harder and make it personal. They should study the history of past PDACs and how old timers can act when attacked.
Where I am concerned, today they made this personal.
There is a great deal of information available to the management of any company listed on an exchange.
The first step in determining what is happening in the short term is broker identification. Every transaction shows a broker on it with one curious twist on the TSX which allows trades to be noted as broker “Anonymous.”
That is not the stumbling block itself because you can see all the daily trades almost as they happen and the total volume of buys and sells on each trade for broker Anonymous, therein determining if this legal camouflage has been a seller on balance for that day.
This information can be obtained from www.tsx.com for companies on the Toronto Stock Exchange. Other exchanges have similar setups. It will have to be obtained by your company on www.tsx.com as info/short interest data is password protected.
When you are on the TSX homepage, click on “Market Activity” and select “Current Market.” There will be a 15-minute delay on information but you can see the broker’s activity and name including that famous broker, Anonymous.
This type of information can be obtained for all exchanges and the NASDAQ. Looking historically will be more informative as you can be assured that as the heat is turned up, procedures will change.
Knowing the broker who represents the greatest on balance selling daily or from period to period is quite easy as they will not use Anonymous often enough to camouflage that they are or have been the largest seller.
The next three documents companies need to obtain are:
The Participation List that shows all street name securities held and by whom. This document should be reviewed, as all documents should, from period to period.
The non-objecting shareholders list will show the changes in the positions of those investors. This is again reviewed from period to period. Even the major shareholders who object to their name being listed are available for the company from the same source to the shock of the hedge funds. These two items are key to knowing exactly what is occurring in your particular share.
The brokers who bought and sold list shows both percentage purchases and percentage sales.
By the comparison of all the above you are able to determine if the selling is long selling, legal short selling or unreported short selling.
It is an exercise that is common to forensic accounting, probably better done for many companies by their auditor rather than by non-accountant management such as geologists.
The next step is to retain a reputable Internet investigator as it is all out there in one form or another.
Anonymous is a nice cover name probably used by the naked short seller, but after the trade and into the statistics it loses its effective cover capacity.
We will keep that proprietary for the time being.
We live in an information world, complex of course, but not to those that specialize.
As this practice continues, your dedication to stopping the rape of shareholders must increase.
Complaining to exchanges, regulators and hiring attorneys at this point is a useless effort. Bringing the culprits out into the light is the most effective first step. Making their identity known is the goal.
The effort is to out those who are both pool raiding and those naked short selling your issue. One is conspiracy and the other is simply a crime. Identification is the first step. They will be identified and then they will be dealt with. We will come at them at every angle from rewards for information to cyber investigators and forensic accounting. Click here to read more about our efforts.
The incoming company interest in this is simply overwhelming. I would venture to say that the companies now interested in ousting these criminals represents at least 200,000 investors.
They can hide as all cowards do, but out they will come as many in the mineral industry have now dedicated their existence to this effort.
Remember, the threats you face you can overcome. The threats you run away from for any reason win.
To the management of the juniors: Never run, no matter what the message they try to communicate to you via your market is. Stockholders will support you because aggressive, dedicated and well-financed action is the only way to remove this vermin permanently. The more they speak via your market, the more you act. This is the only strategy that will protect shareholders from their reprehensible and illegal activities permanently.
In at least some of these areas, the write-downs are on track to be smaller than the first quarter, but could still be substantial, CFO Gary Crittenden said.
Costs linked to worsening consumer credit quality could have a meaningful impact on Citi's results for the rest of the year, Crittenden said.
The company is always willing to look at acquisitions, and will make them where it makes sense, but is focusing more on improving its performance, he said. (Reporting by Dan Wilchins; editing by John Wallace) "
Wednesday, June 18, 2008
Sunday, June 15, 2008
We liked the adrenaline in the process of making money in investment banks' hang over and invested some time in a better understanding of the game:
It is good that it is a weekend: first emotion was to buy as much Puts on all these egomaniacs as you possible can, but we will proceed with usual care and cynical analyses of the future developments.
Our general observation for this week is that you can be very unhappy when prices of your beloved companies are going down only in two cases:
1. You are already fully invested at much higher levels.
2. You do not have a real understanding and/or true believe in your own judgement.
P.S. always ask yourself a question...
Thursday, June 12, 2008
Wednesday, June 11, 2008
Tuesday, June 10, 2008
MBIA and Ambac, the world's largest bond insurers, had their AAA ratings cut two levels by Standard & Poor's June 5, which trimmed ratings on more than $1 trillion of securities they guaranteed. The downgrades may limit the so-called monoline insurers' ability to write new policies, putting further pressure on earnings, she wrote today in a note to investors.
``The limited earnings potential of monolines poses a risk to the value of the insurance and hedges on the subprime-related securities provided to the banks and brokers,'' Whitney wrote. ``The collateral damage could be in excess of an additional $10 billion.''
Monday, June 09, 2008
Lehman Loses $2.8 Billion, Plans to Raise $6 Billion
You will make your own decision, here is as always the Trust issue: is it the last write down, is it the last capital rising?
Could company survive if they had announced hypothetical "real write down" of double the announced figures, would capital be still available to them?
We can find some hint in action of more strictly regulated guys like UBS (Used to Be Smart according to some) which are writing down without any end in sight.
From the newly relaunced website:
Royal Gold Business Strategy
"Royal Gold collaborates with mine operators, royalty owners and other business partners to acquire royalties and unlock their value. The key elements of our business strategy include:
Focus on Gold. Royal Gold will continue to be a precious metals investment vehicle focused on gold.
Royalty Business Model. Royal Gold’s lower risk business model is based on acquiring royalty interests in precious metals properties rather than engaging in costly and more complex mining operations.
Growth and Diversification. Royal Gold is determined to add to its broad base of precious metals royalties through accretive transactions, to further reduce risk and provide ample opportunity for organic growth within the portfolio.
Margin Enhancement. Royal Gold’s unique business model allows us to efficiently grow our royalty revenue without adding significant overhead costs.
Financial flexibility. Royal Gold’s position of liquidity allows us to compete for royalty acquisitions by means of a purchase, by providing financing, or by entering into a strategic exploration alliance in exchange for a royalty"
Sunday, June 08, 2008
Good summary http://www.stockhouse.com/Community-News/2008/June/2/Naked-short-selling-gets-investors-motivated
Financial Sense http://www.financialsense.com/fsn/main.html Crime of the century.
Where it will count we will deploy our knowledge and resources to burn couple of dirty hands in the market.
Saturday, June 07, 2008
Financial Stability and Central Banks
Distinguished Speakers Seminar European Economics and Financial Centre London, England June 05, 2008
Thursday, June 05, 2008
The company is targeting sustainable production of approximately 2.2 million gold equivalent ounces in 2012."
A leader in production growth
Targeted production growth from approximately 1.2 to 1.3 million gold equivalent ounces in 2008 to approximately 2.2 million ounces in 2012
Low cost cash producer
Generating strong earnings and cash flow from low cost operations
Robust portfolio of seven operating mines, five development stage projects
Superior exploration and development prospects
Geographical and asset diversification in mining friendly regions near existing infrastructure; $84 million exploration budget in 2008 and 2009
Highly liquid gold vehicle
Average daily trading volume today of approximately 24 million shares on three leading stock exchanges
Leverage to gold price
Gold production unhedged
High performing management and operations teams
Delivering value to shareholders
Gold is fundamentally a currency and in periods of increasing demand for gold the upward price movements can be more rapid and larger than in other currency markets
Gold serves as a store of wealth
Gold has functional uses in jewelry and certain industrial applications which distinguishes it from other currencies
There is a finite amount of gold available unlike paper currencies
Gold is considered a safe haven during times of geopolitical uncertainty
Since our creation in 2003, we have successfully turned undervalued Brazilian properties into profitable, producing mining operations, implemented an extensive exploration program and increased reserves and resources as well as proved our operation expertise through buildings two major mines, including Chapada, Yamana’s original flag ship mine.
Last year, in 2007, we proved the value of the acquisitions done in 2006 as we became a cash flow and earnings generating company. We fortified the base for subsequent phases of growth and distinguished ourselves as the premier intermediate gold producer.
This year, we will focus on organic growth with a strong push on exploration for both the short and long term and will continue to excel and deliver on our promises. It is our vision to increase our 2008 production to approximately 1.2 million ounces which we can achieve from our existing mines and project under development. "
We have a party today on the street: one guy Merrill Lynch MER sad to buy another one - Lehman Brothers LEH
Wednesday, June 04, 2008
The beauty of things here is that your asset base is growing even when management is sleeping:
"Silverstone Announces 130% Increase in Silver Reserves at Lundin Mining's Neves-Corvo Mine"
If you have missed SLW below 2.0USD, check this one with all due caution as usual.
Company could become acquisition target for Silver Wheaton if share price will continue to evaluate this company so much cheaper then SLW market valuation using the same investment metrix.
If the March low will not hold wave of brutal selling will bring us into Second Bear Leg.
"Three of Wall Street's biggest banks face handing billion of dollars in collateral to their trading partners after their credit ratings were downgraded a notch on Monday, an unwelcome capital squeeze as they scramble to raise more funds.
Credit rating agency Standard & Poor's downgraded Merrill Lynch, Lehman Brothers (NYSE:LEH) and Morgan Stanley (AMEX:MWD) - three of the credit crunch's most prominent casualties - to A, A and A+ respectively, saying their profit outlooks were weakening and more writedowns were possible.
Because the downgrades make the banks less creditworthy, their trading partners in over-the-counter deals (such as credit default swaps or interest rate swaps) can ask them to post extra collateral as security."
"The off-balance sheet vehicles have been used by financial institutions to keep some assets off their balance sheets, thereby avoiding the need to hold regulatory capital against them."
Common guys - I need some Capital to accumulate juicy juniors which are on the plates all around the market place...
But we have some help at least with external nasty gang:
The Agency Issue: Conflicts of Interest, Fraud, Corruption & Crimes Against Investors with Eric King
Crime of the Century Part II: How They Scam Individual Investors
The same page.
Invest your time before your money listen for these two podcasts.
In such a perfect world you should get in shape and read couple of books. You should not really waste any more a single dollar before reading these couple:
"Lost on Bay street" by Alex Doulis
"The trillion dollar meltdown" by Charles Morris
Whom am I kidding...perfect world...but I am reading, reading...
Juniors are showing some life now, bouncing from bottoms and retesting it to make double bottom.
Greenpeace should pay attention to investment banks: they are under threat - without FED life support they would be out by now.
You guess right, I was back to my old tricks: buying what nobody wants and playing down Investment and general banks and consumer related sectors.
PUTs AMR, MER, GS, LEH, C, BAC, AXP, GM, SNE, FRE, INTC, SMH, GOOG, AMZN, LMC
Calls LMC, SSRI, SLW, AUY
Juniors are under accumulation.