VOLUME LEADERS Symbol Name Last Trade Change Volume Related Info HNU.TO HORIZONS BETA PRO NYMEX NAT GAS 3.08 
0.17 (5.23%)7,048,339 More ELR.TO EASTERN PLATINUM LIMITED 1.89 
0.03 (1.61%)5,202,472 Reports, More HOU.TO HORIZON BETAPRO NYMEX CRDE OIL 6.72 0.26 (4.02%)2,997,345 More XIU.TO iSHARES SP TSX 60 INDEX FUND 18.33 0.02 (0.11%)2,161,649 More NGD.TO NEW GOLD INC. 7.67 0.12 (1.59%)2,078,278 Reports, More FAN.TO FARALLON MINING LTD. 0.59 0.02 (3.51%)2,003,561 Reports, More HOD.TO HORIZON BETA PRO NYMEX CRDE OIL 8.98 0.37 (3.96%)1,999,404 Reports, More AC-B.TO AIR CANADA, CL.B 3.80 0.03 (0.80%)1,729,975 Reports, More SU.TO SUNCOR ENERGY INC. 33.23 0.55 (1.68%)1,648,525 Reports, More LUN.TO LUNDIN MINING CORP. 6.50 0.04 (0.62%)1,615,669 Reports, More ML.TO MERCATOR MINERALS LTD. 3.16 0.03 (0.94%)1,498,623 Reports, More CRK.TO CROCODILE GOLD CORP 1.53 0.02 (1.32%)1,487,582 Reports, More ELD.TO ELDORADO GOLD 17.56 0.29 (1.68%)1,480,140 Reports, More ECA.TO ENCANA CORP. 29.09 0.28 (0.97%)1,449,688 Reports, More UUU.TO URANIUM ONE INC. 4.25 0.08 (1.92%)1,431,437 Reports, More HND.TO HORIZONS BETAPRO NYMEX NAT GAS 10.37 0.52 (5.28%)1,389,499 Reports, More IAU.TO INTREPID MINES LTD. 1.44 0.16 (10.00%)1,336,254 Reports, More CDH.TO CORRIDOR RESOURCES INC 6.90 0.19 (2.83%)1,289,373 Reports, More BXI.TO BIOEXX SPECIALTY PROTEINS LTD 2.77 0.22 (8.63%)1,282,673 Reports, More MFC.TO MANULIFE FIN 12.86 0.05 (0.39%)1,261,563 Reports, More K.TO KINROSS GOLD CORP. 18.12 0.23 (1.25%)1,180,036 Reports, More TCM.TO THOMPSON CREEK METALS COMPANY I 12.49 0.21 (1.71%)1,151,729 Reports, More LYD.TO LYDIAN INTERNATIONAL LIMITED 2.42 0.19 (8.52%)1,105,990 Reports, More PNP.TO PINETREE CAPITAL LTD 2.04 0.12 (6.25%)1,067,929 Reports, More YLO.TO YELLOW PAGES INCOME FD 6.06 0.07 (1.14%)1,039,189 More VOLUME LEADERS Symbol Name Last Trade Change Volume Related Info QEI.V QUETZAL ENERGY LTD. 0.24 0.01 (4.35%)3,160,230 More SSS.V STEM CELL THERAPEUTICS CORP. 0.15 0.015 (9.09%)3,011,446 Reports, More PCT.V PRIMA COLOMBIA HARDWOOD INC 0.28 0.03 (12.00%)2,692,348 Reports, More PUC.V PANCONTINENTAL URANIUM CORPORAT 0.39 0.20 (105.26%)2,681,259 Reports, More CNE.V CANACOL ENERGY LTD. 1.69 0.11 (6.11%)2,270,241 Reports, More CUI.V Currie Rose Resources Inc. 0.23 0.035 (17.95%)2,180,607 Reports, More SUP.V NORTHERN SUPERIOR RESOURCES INC 0.58 0.00 (0.00%) 2,076,100 Reports, More CMS.V CRESTON MOLY CORP. 0.48 0.015 (3.23%)1,889,606 Reports, More ETR.V EACOM TIMBER CORPORATION 0.71 0.04 (5.97%)1,853,900 More GCM.V GRAN COLOMBIA GOLD CORP 0.39 0.01 (2.50%)1,672,100 More PTA.V PETROAMERICA OIL CORP. 0.49 0.02 (3.92%)1,440,615 Reports, More PDQ.V PETRODORADO ENERGY LTD 0.51 0.02 (4.08%)1,434,633 More TRR.V TRELAWNEY MINING AND EXPLORATIO 1.63 0.07 (4.49%)1,209,809 Reports, More UCU.V UCORE RARE METALS INC 0.47 0.025 (5.05%)1,132,485 Reports, More GWG.V GREAT WESTERN MINERALS GROUP LT 0.43 0.015 (3.37%)1,117,030 Reports, More RLM.V REALM ENERGY INTERNATIONAL CORP 0.75 0.01 (1.35%)1,086,850 More SXL.V Slam Exploration Ltd. 0.17 0.015 (8.11%)1,082,135 Reports, More OYL.V CGX ENERGY INC. 1.10 0.11 (9.09%)1,022,765 Reports, More AVT.V AVANTI MINING INC. 0.345 0.03 (9.52%)1,009,288 Reports, More RR.V RAINY RIVER RESOURCES LTD 9.50 0.10 (1.04%)986,851 Reports, More CVV.V CANALASKA URANIUM LTD. 0.13 0.005 (3.70%)938,277 Reports, More PX.V PELANGIO EXPLORATION INC. 1.18 0.05 (4.42%)929,182 More TVC.V TOURNIGAN ENERGY LTD. 0.26 0.01 (4.00%)919,930 Reports, More ROK.V ROCA MINES INC 0.315 0.03 (10.53%)911,854 Reports, More VIT.V VICTORIA GOLD CORP. 1.38 0.10 (6.76%)906,125 Reports, More
Monday, November 1, 2010
TSX and TSX-V Leaders
Posted by Treasure Picks at 11:43 AM
Friday, October 29, 2010
Rare Earth Shorts See A Bubble Ready To Burst
U.S. research report tells investors in rare earth element stocks to be wary. It says the world could be awash in rare earth elements if and when the Mountain Pass mine gets into production.
A U.S. research report is raising red flags in the direction of rare earth stocks, including Canadian junior Rare Element Resources Ltd. (TSX: V.RES, Stock Forum) (AMEX: REE, Stock Forum), and telling investors to be wary.
The report by “Shareholder Watchdog’’ follows a surge in the value of Rare Element Resources shares, which traded at $13.91 on Thursday. That’s up from $2 in July.
Although the Vancouver junior has zero revenue, and posted a loss of $1.7 million or 6 cents a share in the year ended June 30, 2010, (compared to a year earlier loss of $1.2 million or 5 cents), it has a market value of $447 million, based on the 32million shares outstanding.
Rare earth elements are a collection of seventeen chemical elements with tongue twisting names such as scandium, yttrium. Found in the earth’s crust, they are applied in a wide range of devices, including superconductors, and magnets.
Stocks in the sector have skyrocketed amid concerns about export restrictions in China, currently the source of 95% of the world’s production.
The recent Molycorp Inc. (NYSE: MCP, Stock Forum) IPO has also helped to put the spotlight on rare elements, highlighting the Colorado company’s plan to reopen a California mine that was shut down eight years ago
But “Shareholder Watchdog’’ says rare earth elements are much more abundant then their name implies.
It says elevated prices may be a temporary phenomenon, explaining that there are two main reasons why this will be the case:
- China will begin exporting rare earth elements again as political pressures mount.
- When Molycorp’s Mountain Pass mine is up and running it will produce 20,000 tonnes of rare elements, an amount that is equal to three times the amount of rare earths that were imported into the U.S. in 2009.
The report concludes that the world will be awash in rare earth supply if and when Rare Element’s Bear Lodge rare-earth elements project in Wyoming is in production in 2015.
This makes the junior a potential short opportunity, according to “Shareholder Watchdog.”
However, aside from worries about lofty commodity prices, the report sees other reasons to be wary of Rare Element Resources.
They include the commingled nature of a Vancouver office address that Rare Element shares with at least six other businesses, some of which are also managed by the junior’s senior executives.
“We believe it is a significant red flag that critical members of Rare Element’s management team are engaged with more than five companies currently,’’ the report says.
Reached in Toronto, Rare Elements chief financial officer Mark Brown dismissed the report, saying it is the price of having a stock that goes up really fast.
He said it is an insult to Rare Element Chairman and chief executive officer Donald Ranta. “This is a senior guy, now retired, who was vice-president of Echo Bay Mines,’’ Brown said. “He was also vice-president, exploration for North America with Phelps Dodge.’’
(Phelps Dodge was acquired by Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX, Stock Forum) in 2007, while Echo Bay was swallowed by Kinross Gold Corp. (TSX: T.K, Stock Forum) in 2002).
“I think there is quite a large group of people out there who are short our stock and are trying to cover because it has just gone up so fast. We had short reports of over 700,000 shares last week.”
Meanwhile, Brown took issue with the suggestion that he is spreading himself too thinly.
“We do have a bunch of companies that are all run out of the same floor as our office and they lease space from us,’’ he said.
At the top of the list is Pacific Opportunity Capital, a financial consulting and merchant banking firm that is active in venture capital markets in North America.
“Pacific Opportunity Capital is my holding company and owns 900,000 shares of Rare Element.”
Brown owns 1.5 million shares of Rare Element Resources and has a role in managing Animas Resources Ltd. (TSX: V.ANI, Stock Forum), Fox Resources Ltd. (TSX: V.FAX, Stock Forum) Avrupa Minerals Ltd. (TSX: V.AVU, Stock Forum), and Tarsis Resources Ltd. (TSX: V.TCC, Stock Forum).
“They don’t all need full time CFOs,’’ said Brown.
“It is disappointing to me that they are trashing my reputation. [The authors of the report] fail to point out all the successful companies that I have been involved with and continue to be involved with.”
In addition to being CFO at Rare Element, Brown is a director of Animas and Avrupa, President and ceo of Fox Resources, chief financial officer of Tarsis, and President of Pacific Opportunity Capital.
Still, viable rare earth element mines are a rarity in North America.
Rare Element is preparing to look at the feasibility of mining 17.5 million tonnes of 3.46% rare earths oxide, a project that Brown described as “very robust.’’
However, “Shareholder Watchdog” says the grade may ultimately prove too low to be viable under a “normalized pricing scenario.’’
“Shareholder Watchdog” is a pseudonym for unnamed writers who are interested in protecting shareholder and retail investors from potential accounting problems and business and regulatory risks.
According to a published report, “Shareholder Watchdog” has a short position in Rare Element stock, meaning that it has a vested interest in seeing the stock go down.
Posted by Treasure Picks at 3:52 AM
Thursday, October 28, 2010
Gold miners better buy than bullion: Sprott
Sprott Asset Management LP, which offers two funds that invest directly in gold bullion, said gold producers’ shares will offer better returns than the metal itself once mining companies start reporting earnings today.
With gold futures trading at US$1,338.60 an ounce Wednesday and mining costs largely fixed, gold producers’ profit margins are likely to increase more than has been factored into their share price, the Toronto-based money manager said in an e-mail newsletter Oct. 26.
“You wouldn’t expect the senior gold producers to be trailing behind gold in this environment,” Sprott said. “After all, at US$1,300 gold, these companies literally have a licence to print money.”
Gold futures have outperformed the S&P/TSX Gold Index, 22% to 17%, this year. Since the first gold exchange- traded fund made it easier for investors to own the commodity directly in March 2003, the price of the metal has increased at a rate of 20% a year, compared with 15% a year for Canadian gold stocks.
Sprott, whose chairman, Eric S. Sprott, has lauded gold and gold stocks since at least 2001, began offering its own products for investors who want to own bullion in March 2009, when it introduced the Sprott Gold Bullion Fund. A second fund, the Sprott Physical Gold Trust, had its initial public offering in February.
In the e-mail, Sprott called for investors to buy gold- mining companies before they release third-quarter financial results. The world’s largest gold producer, Barrick Gold Corp., is scheduled to release earnings on Oct. 28, while the second- biggest producer by market value, Goldcorp Inc., is to announce results at 2:02 p.m. in Vancouver.
Catch-Up
“Despite the buzz you’ve heard about gold and silver over the last two months, the stocks haven’t caught up,” Sprott said. “We expect that to change over the next two quarters as investors realize how much stronger gold producers’ earnings will be at US$1,350 gold.”
Sprott also offers mutual funds and hedge funds that hold shares of mining companies, including gold explorers CGA Mining Ltd. and Colossus Minerals Inc. and reseller Gold Wheaton Gold Corp.
The money manager’s flagship Sprott Hedge Fund has soared 578% since its introduction in November 2000, according to Bloomberg data.
Eric Sprott didn’t immediately return a request for comment.
Sprott Asset Management is a subsidiary of Sprott Inc.
Read more: http://www.financialpost.com/news/Gold+miners+better+than+bullion+Sprott/3739649/story.html#ixzz13ej66Dtm
Goldcorp doubles monthly dividend
Wednesday, October 27, 2010
Vancouver — Goldcorp Inc. doubled its monthly dividend on Wednesday as it reported a sharp increase in quarterly profits, boosted by the rising price of gold .
The Vancouver-based gold miner said earnings attributable to shareholders amounted to $466.5-million (U.S.), or 63 cents per diluted share, for the quarter ended Sept. 30, compared with a profit of $114.2-million, or 16 cents per diluted share, a year ago.
Revenue for what was the company's third quarter totalled $885.8-million, up from $691.9-million.
The company also doubled its monthly dividend to 3 cents per share.
“Goldcorp's current financial strength and growing cash flows enable us to significantly increase our dividend while also executing on our plan to deliver 50 per cent production growth over the next five years,” Goldcorp president and chief executive Chuck Jeannes said in a statement.
Excluding non-cash foreign exchange losses and other one-time items, the company said it earned $231.5-million, or 31 cents per share, in the quarter, compared with $140.6-million, or 19 cents per share, in the third quarter of 2009.
Analysts on average were expecting earnings of 29 cents per share on revenue of $893-million, according to analysts polled by Thomson Reuters.
During the quarter, Goldcorp sold 568,100 ounces of gold, down from 601,500 ounces a year ago, while the average realized gold price increased to $1,239 per ounce, up from $968 per ounce a year ago.
Goldcorp has mines and exploration and development projects in Canada, the United States, Mexico and Guatemala and Argentina. The company employs more than 14,000 people.
Over the past year it has been involved in acquisitions that have irked a number of other players, including Barrick Gold Corp. the world's largest gold producer. Goldcorp stepped in and bought a controlling interest in the El Morro gold-copper project in Chile in a deal with junior miner New Gold Inc. shutting Barrick out of the sales process.
Barrick had already announced an agreement for the property with Anglo-Swiss mining giant Xstrata PLC. Barrick has since launched a lawsuit that alleges the Goldcorp-New Gold deal is illegal.
Last week, Goldcorp closed the sale of its stake in Terrane Metals Corp. to Thompson Creek Metals Inc. for 13.9 million shares of Thompson Creek and $240.5-million in cash.
Goldcorp signed a deal in September to buy U.S. gold miner Andean Resources Ltd. for $3.6-billion (Canadian).
The agreement beat out Eldorado Gold Corp. which had just hours before announced its own $3.4-billion bid for the company which owns a promising mine in Argentina.
Goldcorp's bid has the unanimous support of Andean's board and a lock-up agreement from a shareholder that owns 21 per cent of Andean's shares.
The deal is expected to close later this year or in early 2011.
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Posted by Treasure Picks at 8:27 AM
