PDAC News

Pebles

I forgot to mention they picked up a key guy from Xstrata who i expect to take out Anglo and probably Pebble in one fell swoop after their merger is through. Why would they let rio have it. that is a flag ship ore body that is found only once every 30 years and which you can build a future around due to its 100 year life. Now xstrata is on the inside and rio is on the outside looking in. i would love to see NEM do the right thing once for its shareholders and buy peble  out. Amazing how one Anglomasonic crook has held that entire show up.  That guy has tormented shareholders  for a decade now.  im amazed that ore body is still on the market but look at no good gold.

 

Here is a Firm Destroyed by Australia ZOG And Canadian Naked Shorting

Not one but two mid sized surface deposits that are highly bankable. This firms stock stopped behaving right when a big Aussie firm owned by Zionist moved in to buy 20 pc of the company then ‘someone’ used the warrants to naked short it. The management is clean and even were going to try and buy a used mill to put the ore bodies into production but wisely gave up as you can’t do the mining on the cheap. The management should get on the road to Asia and start working with them to put this into production or the German who are seeing china starting to control their input costs and need some mines of their own.  This is right out of the Talmud watching gentile slaves do all the work and stealing a decade of hard work from the owners and shareholders. you think more canadian and american pension funds or even hedge funds would begin to compete. Lesson learned in this stock is when you see an Aussie or Englishman get involved in your stock. Get out and stay out. Even Oprah called Oz, ‘soulless’. I suppose it takes a mining engineer to get outraged at this firms valuation. Why would a mining firms buy 20 pc of a company and just ‘sit’ for five years. Absurd. Someone should investigate these firms with odd deals like this. Still the CEO is  responsible and the bod should replace them or demote them until the financing reflects the ore bodies value. This stock is the plaything of greedy financiers. and little else. Aussies are rude. The bankster class does not like rich engineers or geologist least they lose their slaves and/or get a competitor say like Rob McEwan. Robs real strength was his finance skills, nose for a buck and ability to finance projects and hire great people. Sad. Certainly looks like another attractive price point to buy more. I just sell into peaks and wait for the manipulator whoever she is to manipulate it back down on good or bad results. A classic ‘case’ study for the German and Canadian security regulators.

http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=CA%3AMUM&insttype=Stock

London Hebrew Turk Says Central Banks Desperate

Central bank intervention against gold last week aimed to get control of a “desperate” situation amid monetary debasement, GoldMoney founder and GATA consultant James Turk tells King World News today. Turk says there have been many such interventions in recent years and this one won’t succeed any longer than the others did. An excerpt from the interview is posted at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/3/5_Turk_-_Central_Banks_Intervened_in_Gold_Out_of_Desperation.html

 Scorpion

Reported on the R. Very preliminary and no by product results yet. But clearly a commercial find. Very impressive veins. Lxx- 37.38 are very impressive.  More drills planned. They should fix the press release. A lot of the expansions plans are being delayed to see if they should build another mill. Now we know. Build another mill.

 

No good Gold

Very Impressive Drill Result at GC!! PDAC Data Burst Continues! Very impressive. Glad they held out before selling to TC!! Good job no good gold! Anglo Supremacist at TC won’t be able to steal this ore body now!! Canadas largest ever mine!! Stunning! And it is open at depth. GC is copper king at least until the Pebble boys deal with the devil ‘bob’.

Sol

Pretty exciting results. I have said for the last 3 years they were sitting right on top of a major gold strike in addition to the silver. Amazing how long it took them to figure out the geology. She always delivers on the geology. And we have 3 or 4 potential suitors. Garbage  financing but she got funding when no one else could. The other guys down  are sitting on top of something, and not telling us. Good job sol. Amazing strike. This firm gets no PR. They should hire a PR person.

 

Canada. Hot to Trot on Responsible Mining

Canada is simply the number one  Jurisdiction for mining investment. With Canadian oil starting to flow, it is much safer now to invest. Australia is the worst, simply as their finance sector and stock market make the Greeks and Nigerians look like choir boys. Australian stocks like the Aussie and English people are a massive short sale. Australia is just England down under. My motto is never invest in Israel, Australia or England. The corruption is so, so foul in their banking and stock markets. Canada need to clean up its naked short heaven. The butchery of the relatively clean books of Sinoforest is something to behold.

http://business.financialpost.com/2012/03/05/pdac-2012-natural-resources-minister-touts-streamlined-regulatory-process/

Graphite Ore Is Hot!!

If any readers have done DD on Redwood, please update the board using the comment section or email me.  Don’t mention the stock except by its codeword, redwood or I will have to edit your comment. Certainly while lots of VPN surfers read this blog, contributions other than hate mail and death threats are nil. It makes me wonder if the ZGR should continue.  Amazing how many ‘takers’ there are. There are only 2 contributors to this blog and there should be far more.  IPs are stored in Iceland and deleted on a regular basis.

http://business.financialpost.com/2012/02/29/talk-about-success-an-overflow-crowd-attends-north-americas-first-graphite-conference/

Columbia open for business if the geography is right

http://business.financialpost.com/2012/03/05/pdac-2012-colombia-eyes-regulatory-change-resolution-on-eco-oro-project/

Miners Hopeful on Recovery from 2011 FED Smash Down

* Optimism returning after rough patch for the sector

* Positive indicators from U.S., China boost sentiment

* Pace of capital cost increases on projects causes concern

By Euan Rocha

TORONTO, March 2 (Reuters) – Detour Gold last month sold C$277 million of equity to investors willing to bet on its promising gold project – a hefty sum that bankers say the Canadian company would have struggled to raise barely two months earlier.

Detour’s success in raising funds is one of many small signs that the malaise that gripped miners, explorers and investors in late 2011 is easing. A brighter economic outlook has brought a ray of optimism back to the global mining sector, which gathers next week in Toronto for its biggest convention of the year.

While stresses still weigh heavily on the world financial system, a batch of decent U.S. economic data and easing concerns about a slowdown in China have breathed fresh life into mining stocks that tumbled last year.

“If I compare right now to, let’s say, the latter part of 2011, generally executives are more positive now,” said Egizio Bianchini, co-head of metals and mining at BMO Capital Markets.

“The often overused phrase ‘cautiously optimistic’ is probably one that can be used now, and I think that’s where people are at,” Bianchini said in an interview before the annual Prospectors and Developers Association of Canada convention. The event, known simply as PDAC, opens Sunday in Toronto.

The Dow Jones Basic Resources Titans Index, which reflects the performance of a basket of the world’s top mining and steelmaking stocks, dropped to a two-and-a-half year low in early October as the euro zone debt crisis spread.

It has risen nearly 30 percent since then, helped by rallies in both gold and copper prices.

Base metal and steel prices are usually strong indicators of the health of the global economy. Industry analysts, economists and government officials pay close attention to developments within the mining sector to guide their strategies and policies.

The more confident outlook is setting the tone for PDAC, as hundreds of exploration companies prepare to tout their projects to outside investors and to large, established mining companies.

With few exceptions, the juniors hope one day to either be swallowed up by a larger player or evolve into a powerhouse, following in the path of such industry giants as Barrick Gold or Teck Resources.

“PDAC is really about the explorers,” said Charles Oliver, a portfolio manager with Sprott Asset Management. “PDAC is where dreams are made or crushed.”

In early 2011, the mood at PDAC was bullish as well. Metal prices were on a tear, and many of the 26,000-plus delegates were decidedly upbeat. But the mood soured during the summer as equity markets turned choppy, volatility hit metal prices and the European debt crisis went from bad to worse.

“At the beginning of 2011, I think everybody was optimistic that we were going to see a full-blown recovery. That didn’t happen in the way that people expected, though it looks like we may be seeing some nascent signs of that now,” said Kevin Loughrey, chief executive of Thompson Creek , a diversified miner listed in both Canada and the United States.

COSTS WEIGH

To be sure, the new sense of optimism is not without its caveats. The industry’s persistent tussle with rising fuel, material and labor costs has muddled even the most detailed of project plans.

Ten months ago, Thompson Creek raised the cost estimate for its Mt. Milligan copper-gold project in the western Canadian province of British Columbia by nearly 40 percent to C$1.27 billion ($1.29 billon). Last month the miner warned that the estimated costs had climbed to a range of C$1.4 billion to C$1.5 billion.

Loughrey is one of many top executives who spoke a BMO mining conference in Florida last month, where capital cost overruns on projects emerged as an central theme.

“We all sit around and bemoan the fact that a number we came up with a year ago, and did a lot of work on … is 20 or 30 percent wrong today,” Loughrey said. “I don’t know what to say about it, except that that’s the world we are living in today.”

Still, cost increases are not all bad news. There is a silver lining in that project delays and deferrals are likely to tighten markets.

“The good news is certainly that the higher costs are really going to have to translate into higher sustained metal prices to be able to justify development of these projects,” said Gordon Bell, head of RBC Capital Markets’ global mining and metals group.

TURNING TIDE

The fear of a sharp slowdown in China was another reason behind the late 2011 slump, but recent policy moves by the Chinese government and positive signs from Asia’s largest economy have eased those concerns.

Teck Resources believes strongly that worries about China are overblown. The Vancouver-based diversified miner is a large exporter of coal, copper and zinc, much of it to China, the world’s top commodities importer.

“We are often asked about our view of the Chinese economy and whether we expect a hard landing or a soft landing. Judging by the recent economic data and the Chinese government’s recent actions on bank reserve ratios, we think neither will occur,” Teck’s CEO Don Lindsay said at the BMO conference.

Last month, China announced its second cut in bank reserve requirements in three months as it moved to ease credit strains and shore up economic growth.

China has become the most powerful force driving world economic growth, even as the weak U.S. housing market and the sovereign debt crisis in Europe stymied growth in those regions.

Patricia Mohr, a commodities specialist at Scotia Capital, said an improving U.S. economic climate and ultra-low interest rates are also building the mining sector’s confidence.

“You’ve got a very accommodative monetary policy in the United States and some Asian countries have also eased monetary policy,” she said. “Their easing remains quite cautious, but at least it’s moving in the right direction.”

The U.S. Federal Reserve cut its overnight interest rates to near zero in 2008 and has bought $2.3 trillion in bonds in an effort to keep interest rates low and boost economic activity.

“I think all of these factors have lifted the sentiment and in fact a lot of the hedge funds and investment funds actually went long again in base metals in January,” she said, referring to bets, known as long positions, that a commodity will rise.

http://www.reuters.com/article/2012/03/05/canada-mining-pdac-idUSL2E8E24WT20120305

 

Commodity prices fuel appetite for mine equity

* Financing window started to open in mid-January

* Bankers see a number of mining IPOs in the wings

By Pav Jordan

TORONTO, March 4 (Reuters) – There’s a new appetite for equity financing in the global mining sector, as investors tiptoe back into a market that has fretted about funding for the last six months.

Boosted by firm metals prices and a less pessimistic outlook for a still-fragile global economy, many mining companies are again able to sell shares in secondary offerings or tempt investors with an initial public offering.

“The buyers are back, the window is opening again, and there are deals getting done for exploration,” said Mike White, president of IBK Capital Corp, a Toronto boutique firm that specializes in equity financing for miners with projects under development.

The next opportunity for cash-hungry companies to strut their stuff comes with this week’s Prospectors and Developers Association of Canada convention, known in the industry as PDAC.

If last year’s figures are anything to go by, the annual Toronto conference, which opens Sunday, could draw some 26,000 participants, bringing prospective investors together with hundreds of explorers and miners – often small-scale outfits.

“We’ve certainly seen institutional money and more accredited investor/high-net-worth-individual type money going into exploration, and I think that will make for a great PDAC,” said White. “I think there’ll be lots of deals done.”

Canada’s importance as a mining capital is rarely more evident than during PDAC, the industry’s largest annual event and a premier opportunity for investors to meet with mining firms.

“There’s been a lot of money that came out of the market that’s sitting on the sidelines looking for an opportunity to come back in, and there has been a lack of supply of new issues,” said Chris Gratias, director and co-head of global mining at CIBC Global Markets.

“Equity new issue volumes are down from what we would view as a historical run rate, but when companies have come to market, they have been very well received, and deals are getting done on attractive terms.”

Bank loans previously offered a key source of cash, but the financial woes of Europe’s banking sector make that a less viable option now, pushing more companies towards equity finance.

There could also be new entrants in the market as companies take advantage of the more favorable environment to launch an initial public offering, such as the one expected for Ivanplats, a metals explorer controlled by Ivanhoe Mines founder Robert Friedland.

The company said in a letter to shareholders last June that it planned to go public in late 2011 or early 2012 on one or more major international stock exchanges. But it has offered no update on its plans.

“We are certainly aware of a number of companies that are considering the opportunity to access the markets through an IPO, through a broad range of commodities, in base metals, precious metals and bulk commodities like iron ore,” said Gordon Bell, head of global mining and metals for RBC Capital Markets , not in reference to any deal in particular.

Canadian miners did about $223 million in initial public offerings in 2011, down sharply from $1 billion in 2010, according to Thomson Reuters data. Miners raised a total of $6.87 billion in equity in Canada last year, compared with $11.28 billion in 2010.

http://www.reuters.com/article/2012/03/05/canada-mining-pdac-financing-idUSL2E8E1I0820120305

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