Friday, July 26, 2013

Gabelli Talks Stocks

After watching him on the financial networks for a long time I'm fairly certain he has attention deficit disorder.  He seems to jump from topic to topic without finishing a single thought.

Nonetheless he is one rich fellow...........

Alberta Oilsands Inc Shares Explode Higher!

Buy things that are valued at the cash on their balance sheet and good things sometimes happen!

Chart forAlberta Oilsands, Inc. (AOS.V)

Wednesday, July 24, 2013

A Couple of Areas Where Facebook Is Dropping The Ball

I’m a Facebook (FB) user, and my wife is a borderline addict. When we were first married and without kids my wife and I took the opportunity to work overseas. The experience was richly rewarding and we were lucky enough to make lots of friends from all kinds of different countries.

Once we decided to start having kids my wife and I moved back home. That meant saying goodbye to our new friends many of whom also were moving back to their countries of origin. 

Facebook has been a huge blessing for us in that it makes keeping in touch with our diverse group of friends extremely easy and inexpensive. However, as users and as a potential investor I think there are some areas where Facebook is lacking.

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Sprott's Thoughts - Junior Miners Going Bust? CEOs Weigh In...

The Agora Financial Symposium in Vancouver gives executives and representatives from mining companies the chance to pitch their stock to potential investors.
Outside the main conference area, where around 500 attendees listen to investment and economic experts from a variety of industries and perspectives, a few mining companies talk to potential and current investors at the company exhibition booths.
Following an 18-month downdraft in the sector, many investors have tough questions for these management teams.
Rick Rule has stated that the downdraft in mining is positive in the long-term. Companies that are wasting capital because of poor management, he believes, must wash out of the sector.
I took advantage of the conference to talk with a few mining executives, and asked them if they saw the cleansing that Rick believes must occur in the sector.
“A lot of companies rushed in when they could get financings,” says Ken Cunningham, President and CEO of Miranda Gold Corp. “And many are now out of cash. These companies are technically still alive, but should soon be forced to either close their doors or be taken over.”
“These companies are no longer drilling or taking samples”, says Cunningham. Rather, they have decided to end their exploration activities so that they can maintain their salaries until the market allows them to raise money again.
“This behavior brings into question the validity of their projects, and the elimination of these types of companies should be positive for the sector”, he concludes.

Friday, July 19, 2013

Gulf Keystone AGM - Battle In Bermuda

Bermuda will be at the centre of a power struggle involving a more than $2 billion-dollar international oil giant when shareholders converge on the Island next week for the company’s annual general meeting.
Gulf Keystone Petroleum is registered in Bermuda, though its “office” in Hamilton’s Cumberland House is actually that of law firm Cox Hallett Wilkinson, which also answers its phones.
As a report, headlined “Battle in Bermuda”, in London’s Independent newspaper put it, the battle involves: “billions of barrels of Kurdish oil, eight-figure pay packages and some big egos, including that of a retired chief of the British Army”.
Gulf Keystone’s annual meeting is in Bermuda next Thursday and it’s reported that “genius tycoon” and former Gulf Keystone executive Jeremy Asher, among other colourful players, plans to fly to Bermuda for the vote.
The Fund manager M&G Investments, a 5 per cent shareholder, wants to put four non-executive directors on the board, including Mr Asher, Gulf Keystone’s former deputy chairman.
He controls 1.7 per cent.
“They call themselves “reforming” shareholders, rather than dissidents, and say the company is suffering because its share-price slump limits its options for expansion and investment,” the Independent says.
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Another Joint Venture Coming For Bellatrix ?

Daewoo International Corp., Korea's largest general trading company, will establish a 50:50 joint venture with Bellatrix Exploration, a Calgary (Canada)-based company specializing in oil exploration and production, for shale gas development. According to investment banking sources on July 16, the POSCO group company will invest US$36 million to jointly develop extensive Cardium land holdings in west-central Alberta.

For the first seven years, Daewoo International will receive 33 percent of operating profit. The agreement included a provision that Bellatrix would make up for losses if the annual return is below 8 percent. After the first seven years, Daewoo will be entitled to 20 percent of the operating profit from shale gas development.

This is not the first time Korean companies have invested in Canadian oil and gas assets. Last year, TransCanada Corp. formed a partnership with Korea Gas Corp., Mitsubishi Corp., and PetroChina Co. to build a $4-billion pipeline from northeastern British Columbia to an LNG terminal at Kitimat.