Archive for January, 2008
by David Faulkner
Th ad campaign went on for years. Everyone certainly thought it was the rule of thumb. When you ask a girl on the street how much an engagaement ring should cost, that girl would answer “two months’ salary” without batting an eyelash.
There’s no problem with this if marriage plans have been factored in early on. But what of the man who doesn’t have two months’ salary to spare for a ring — now, or anytime in the future? The answer to this question is “discount diamonds.”
Discount diamonds aren’t too hard to find — just input these two words into Google and hundreds of website links would show up. Your search doesn’t end there, though, because more than half of these sites are into scams.
If you’re not an expert in gemology, don’t even attempt to buy discount diamonds online without any assistance. No matter how inexpensive they seem to be, you’re still spending hard-earned money on it, and you wouldn’t want to flush your money down the drain by spending on fake discount diamonds.
The most common scam perpetrated by these so-called “discount diamond dealers” is passing off cubic zirconium for real diamonds. These scammers would even have legitimate-looking websites, perhaps even featuring testimonials of satisfied customers, just to lure unsuspecting clients.
This is rare and only happens when they sense that the buyer is rushing the purchase but seems to not really know much about purchasing diamonds. The more common scams are when the discount diamond dealers try to sell gems that weigh less than what was actually stated or do a “quick switch” and replace the inspected gem with a discount diamond of an inferior quality.
This is not to burst your bubble if you’re looking to buy discount diamonds. It’s highly possible that you could come across a great bargain, but it’s best to be cautious along the way. If you’re planning to purchase offline, make sure you go to reputable dealers only.
There are discount diamonds which you can avail of during certain times of the year. Sometimes, jewelry retailers offer discount diamonds when they want to replace their merchandise with new stock. Even diamonds follow trends, and retailers would rather dispose of their old merchandise than stock them when new styles arrive.
Lastly, always consider a discount diamond’s 4 C’s — its carat, clarity, color, and cut. Regardless of how small your budget is, you can possibly find a stone that would fit your requirements. The thing to remember is that no matter how small or inexpensive your discount diamond may be, it’s still a diamond — and it still possesses the unequalled properties of hardness and brilliance.
You can also find more info on diamonds and white diamonds symbolize.Topdiamondsguide.com is a comprehensive resource to know more about diamonds.
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by David Faulkner
One of the most economical ways for first time home buyers to break into the real estate market is by purchasing bank-owned foreclosure properties. Most banks are eager to eliminate the costs of maintaining and insuring foreclosure properties and will let them go at a significant discount to their open market price, provided the banks get enough to pay off the outstanding loans on the foreclosure properties.
While some very fortunate home buyers have picked up bank foreclosure properties for as little as fifty percent of their market prices, the more usual discount is between ten and thirty percent. But most bank foreclosure properties are in livable, if not pristine condition, and ready for their new owners to move it.
Finding Bank Owned Foreclosure Properties
You can determine which banks in your area have foreclosure properties by doing research at your county recorder office, where all default notices must be filed. Even better, most county recorder offices will publish weekly listings of homes which are entering the pre-foreclosure process, and by accessing it you will have the very latest information on foreclosure properties in your area. You are not alone in your quest to find great foreclosure properties, so try to keep ahead of your competition.
When you have located the foreclosure properties most likely to meet the needs of you and your family, visit each of them in person for a thorough assessment. Make sure you know the condition of the homes’ plumbing, and examine each house carefully for any signs of insect or rodent damage. If you see that the homes need work, you will need to deduct the cost of the repairs from the bids you place on them.
Making Your Offers
When you are satisfied that you have decided on a fair price for each of the foreclosure properties, you can take your offers to the banks which hold title to them. Include in your offer the estimated costs of the repairs necessary to make each property inhabitable, and make your opening bid as low as you reasonably can. That way, you’ll have plenty of room to negotiate when you get the counter offer. And who knows, your opening bid might just be accepted!
You can also find more info on estate foreclosures and foreclosures foreclosures homes. Foreclosureshomeguide.com is a comprehensive resource to get help about property Foreclosures.
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by jamesnoha
If you’re new to investing
Research shows that before preschoolers enter kindergarten; their brains are more active and more flexible. They actually have more connections per brain cell than us adults. By age three, the child’s brain is actually twice as active as an adult’s, and the child’s brain consumes twice-as-much energy. It has some 15,000 synapses or connections per neuron, compared to the average 7,500 per adult brain. There’s more. At about age 10, the brain begins mercilessly eliminating the less-used synapses. This physiological fact may explain why remediation of learning disabilities, which usually starts in the fourth grade, is such hard work and why it is so rarely completely successful. By the time we’re 18 we have the brain we will have for the rest of our lives. The shape of our brain’s internal pathways is, at that point, carved out. For better or worse, our unique physiology and personality is set. That seems to indicate that as we “grow-up” we use only what “brain-power” we need to and dump the unused portion of ours brains capabilities. So, getting stuck in our ways is really nothing more than our brains being hard wired to move us in the same “direction” over and over again.
So, getting back to my suggestion of developing a childlike attitude, as an experiment, I want you to read this article with childlike enthusiasm. Think of no option except this “real estate investing can work for you” because it can - if you apply some proven principles and strategies. As we “grow-up” we tend to lose that childlike sense of awe and wonder, the sense that anything is possible. We start over analyzing and thinking too much and we label that as maturity. In my opinion taking action always outweighs overanalyzing. The right combination of knowledge and action can deliver tremendous results for you no matter what it is you’re trying to achieve. On that note, I want to tell you about my first real estate deal, and I’ll say right upfront that one of the reasons it worked was because I never thought that it wasn’t going to. My youth and inexperience allowed me to keep focused on winning and nothing else. If I’d been older and overanalyze the situation, I may never have done it.
Here’s the story.
I was in my late teens and I was flat broke. There was an apartment house in my town that had once been a decent place, but the owners and let the wrong tenants in and the place began to deteriorate. Soon there were broken down cars in the yard, garbage piled in the hallways, a broken front door, and some busted windows. This apartment house was for sale, but its horrible appearance meant that no bank was going to give anyone a loan to buy it. The worst of its features was an eight-foot tall front porch that was about ready to collapse! It wouldn’t have been able to get a certificate of occupancy, and in most cases, you can close on a piece of property unless a certificate of occupancy exists. In case you’re unfamiliar with the term, a certificate of occupancy ensures that the property is livable…and this place wasn’t!
After some negotiations with the sellers on the price, I told them that I’d like 45 days to clean the place up, but then they would have to sell it to me. To keep them from selling it to anybody else, I told him I was going to give them a tiny little down payment. I also said that in 45 days I would start pursuing a bank loan, and then I wanted 60 days from that point to close on the property. I asked for a lot. I didn’t know any better. Guess what? The seller agreed! But here’s the scary part that I wouldn’t suggest anyone else do. Once the seller and I had a deal, I immediately went to work on the place before even knowing whether I could get a bank loan. I figured cleaning the place up was my first priority because I thought “the bank will look at the place before make it pretty, and I will never get the loan.” So I blindly put my heart, and soul, and sweat equity, into cleaning that place up. I got creative too, remember I was broke! I got rid of the junk in the front yard by calling a guy who would agree to take everything away for free so he could sell it for scrap. Then I got together with some friends and hired the cheapest laborer’s I could find. Together, we fixed all the broken windows, the front door - - and the porch.
A contract with the owners allowed me to evict some of the worst tenants, so I got rid of the ones who are unwilling to be part of the massive cleanup. We planted flowers across the front, mowed the lawn, trimmed the hedges, and painted the front of the building.
Then we went inside and painted the hallway and cleaned up couple of the apartments that we evicted people from. They were nice apartments; they just needed to be cleaned. In 45 days, the building looked gorgeous. Then I went to the bank and was fortunate enough to get a loan. In fact, I get a loan for 100% of the money I needed because the property appraised for much more money than I was buying it for. Wow! Success!
I kept that apartment house for many years and each month I enjoyed great positive cash flow from it. Then I sold it during the peak cycle and made a wonderful profit. What a great learning experience and what a great sense of accomplishment I felt. To this day, I can remember standing on the front lawn, looking at the apartment house after I purchased the property, and feeling a sense of accomplishment that came from knowing I did everything I said it was going to do.
Now I don’t suggest you rush into your first deal like I did. But looking back, I was so aggressive, because I knew what I wanted and I wasn’t going to let anything stand in my way. There was no “what if” option only a “when”. Hey, if a naïve kid who came from no money, had no mentors and never went to college can do it. You can to. You just have to get the right knowledge take the right action. Those are the two little known secrets that will allow you to realize your dreams. Your first deal could just be weeks away!
Author is a legal content writer, Dean Graziosi is a real estate investor and author of Be a Real Estate Millionaire book. For more visit: http://www.bearealestatemillionairenow.com/?ac=305
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by ResourceX Investor
Nevada is the home of the new business model in gold mining: Find a past-producing mine where lots of known ore-grade material was left behind during the deflated gold price era in the later nineties, and put it back into production. It’s a straightforward approach (for mining) that has a well established track record.
Harvest Gold (TSX.V:HVG) is planning just such a revival for the Rosebud Mine.
The Rosebud Mine property includes the Rosebud Mine and 54 claims covering approximately 1,115 acres in Pershing County in northwest Nevada, approximately five miles to the south of the Hycroft mine which produced more than 1,000,000 oz of gold and 2,000,000 oz of silver.
Harvest Gold holds an option to acquire a 100-per-cent interest in the Rosebud project, subject to a 3-per-cent net smelter return royalty, 50 per cent of which can be purchased for $2.25-million
The Rosebud Mine was a joint venture between Newmont Mining (NYSE:NEM) and Hecla Mining (NYSE:HL) that operated between 1997 and 2000. According to Hecla’s annual report,, the Rosebud mine produced 385, 450 oz of gold and 1,253,604 oz of silver between 1997 and 2000. The production was from a proven and probable reserve of 500,000 oz Au and 3,446,912 oz Ag (1996 Hecla annual report — Not N.I. 43-101 compliant).
Harvest’s plan is to focus on 3 areas: (1) Evaluation of historic gold mineralization that
remains on the property; (2) Exploration for near surface, high-grade gold mineralization similar to that which has been discovered on the property in the past; and (3) Exploration for large bodies of gold-silver mineralization at depth.
As disclosed in the Hecla Mining Co.’s 1999 annual report, “gold mineralization in the South, North and East zones, as in many other volcanic-hosted gold deposits, is erratically distributed with numerous low-grade drill hole intercepts interspersed with higher-grade drill hole intercepts over an area approximately 1,000 feet east-west by 1,000 feet north-south. Drilling has also intersected further mineralization proximal to the mine.”
Hecla Mining’s 1996 annual report quotes a Rosebud resource of 1,276,634 tons grading 0.392 ounce gold and 2.70 ounces silver per ton containing 500,441 ounces of gold and 3,446,912 ounces of silver at a cut-off grade of 0.18 ounce (5.2 grams) gold per ton. This pre-mining resource (1996) was not National Instrument 43-101-compliant, but was based on over 260,000 feet of surface and underground drilling in and around the mine area.
Besides the possibility of establishing an open-pit-style resource, the Rosebud gold mine area is considered to have excellent exploration potential for higher-grade gold and silver mineralization in several areas that were not included previously in the historic mine workings or resource calculations. This is supported by available data from historic drill holes in the Dreamland (1.9 metres of 25.4 grams per tonne (g/t) gold) and Northwest corridor (5.1 metres of 13.8 g/t gold and 3.9 metres of 16.2 g/t gold) areas, as well as other locations on the property.
Drilling on the Rosebud is expected to begin during mid to later summer this year on targets identified from soil samples using the “enzyme leach” process, a technique particularly well suited to Harvest because of the vast experience in that field of Harvest Gold (U.S.) President Greg Hill, who also just happens to be the President of the Geological Society of Nevada.
Also assisting in the interpretation of geophysical and geochemical data for drill target identification is Holly McLachlan, who spent two years as a geologist at the Hecla/Newmont Gold Corp. Rosebud JV while the deposit was being mined. Her exploration and development efforts there included mapping and managing surface core and RC rigs and an underground development core drilling program in order to delineate potential deposit extensions and new deposits.
The company has cash on hand thanks to the exercise of all of its warrants from a previous financing. Harvest’s press release of December 4, 2007 reported that 6,975,500 warrants had been exercised resulting in total proceeds of $1,395,100. The two year warrants were attached to Harvest Gold’s initial Plan of Arrangement financing, when the Company’s shares began trading in December, 2005. One warrant entitled the owner to purchase one common share of Harvest Gold for $0.20.
Harvest Gold’s business model of securing strong joint venture partners, when appropriate, is well known in Nevada and is renowned for assisting companies in preserving their cash.
Besides the Rosebud project, Harvest is exploring and evaluating each of its other eight properties: the Longstreet Mine Gold Property and the Garcia Flats Property in Nevada and the Assean Lake Gold Property, the Wyatt Claims, the Le Savage North and South Properties, the Con Claim, the Conley Estate Claim, and the Vena Claim, all in Manitoba.
Resourcex Investor is an internationally distributed newsletter about emerging junior resource companies. Sign up for a free 1-month trial to our newsletter and get instant access to news and investing
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by Leroy Rushing
There is so much information available to traders that sometimes I find it overwhelming or even confusing at times. Since the majority of the available and convenient information is in written form, it makes it difficult to ask questions of the author or the website. And if you do, more often than not you never hear back from them, right? And if you do, so much time has passed that you don’t even remember asking the question much less why you asked the question in the first place.
Let’s say a trader is not sustaining consistent profits, and his question is “What do I do?” For the answer, you can go to the internet via any number of search engines; you can go to the book store and/or library to find out how to establish consistent profits; you might even go to some seminars and courses to find the answer. If you’re really on top of things, you might even ask your trading mentor.
It’s a pretty broad question, but for as many traders that might be asking this question, there’s probably just as many answers. Why? Because there are a number of moving parts that are necessary for sustaining consistent profits, and depending on where you are in your trading development, the answer can be different and vary for each trader. Integral components to the answer may include your trading plan, your trading style, strategies, and more.
The point is, you might “kinda sorta” find an answer to your question, but you may also find out relatively quickly that it is not necessarily customized to your current needs. To add to that, the answer to that question today may very well be an entirely different one if you ask the same question a year from now. The truth is, you need an affordable avenue for asking questions and getting direct, immediate feedback customized to your current needs and situation.
Well, I’m happy to report that there is a solution to this sometimes “path to nowhere” when it comes to answering your trading questions. Trading Everyday has launched a new FREE mini-series of seminars called “Day Trading Questions Answered”. It is probably only one of very few seminars available without an agenda because the it is determined by you, the trader. Traders send their questions in advance or they can ask them when they join the seminar. The entire 90 minutes is dedicated to answering only those questions that traders bring to the table. Nothing more, nothing less. How refreshing is that?
So if you’ve had those nagging trading questions that you can’t seem to find the answer to, you might want to consider registering for one of the sessions. Even if you don’t have any questions, my bet is that you’ll learn from the questions that other traders ask. It’s free. You have nothing to lose and everything to gain.
Leroy Rushing is an active, professional day trader; trading coach; and eBook author. He is the Founder and CEO of Trading EveryDay, a distinguished provider of educational trading products and services that are available worldwide.
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by Joon Trader
In Forex Trading, US Dollar, Japanese Yen and the Euro dollar combined are the globe three major economic powerhouses and also the major currencies in the Forex market.
The US dollar is the most dominant currency in today world’s Interbank Forex market. The four next most traded currencies are the Euro dollar, Japanese Yen, British Pound and Swiss Franc. Though the Forex market comprises of almost all the currencies on earth, these four currencies traded against the US Dollar make up the majority on the Forex market and are known as major currencies or the majors.
Currencies are traded in pairs and each currency has its own symbol. For the Euro dollar- it is EUR, Japanese Yen - it is JPY, for the Pounds Sterling - it is GBP, and for the Swiss Franc - it is CHF. Hence, EUR/USD would be Euro-Dollar pair. GBP/USD would be pounds Sterling-Dollar pair and USD/CHF would be Dollar-Swiss Franc pair and so on and so forth.
You will always see the USD quoted first with few exceptions such as Pounds Sterling, Euro Dollar, Australia Dollar (AUD) and New Zealand Dollar (NZD. The first currency quoted is called the base currency.
The cumulative buy and sell of a currency causes it to move either up or down. There are numerous factors that cause the fluctuation of exchange rate.
• Central bank monetary policy and balance of payment.
• A country’s political, social and fundamental economic environment such as economic growth rate, inflation and interest rate.
• The inflow and outflow of capital between nations - be it physical or portfolio flow.
• Central bank abilities to back up it own currency during speculative attack will provide faith to calm its currency price.
• Speculative activities by professional currency manger with billions of funds can also sometimes move the market.
Movement of the currencies is ultimately dictated by demand and supply. However, predicting demand and supply in Forex Trading is not as simply one would think.
JoonTrader is the owner of forexdiscover. For further recommended resources on how to make money in Forex Trading. Click here to grab the secret to consistent pips.
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by Brian Garvin and Jeff West
If you are new to internet marketing, you may be little bit bit confused by the term “High Yield Investments.” Shouldn’t all investments be considered high yield? When used in this context (and keep in mind that there is some variation across the board), it refers to the potential for making money online in direct marketing opportunities, network marketing opportunities or through passive systems like pay to read systems. If you have a great deal of interest in getting involved in making money in these ventures, learning about the genre as a whole is a good way to get started.
The first tip that is usually given to people who are interested in High Yield Investments is that they need to diversify. If you are shortly getting into this field, you may be a little bit timid about spreading yourself too thin, but it makes sense. Many of these opportunities are fairly short term, and is usually a good idea to have something waiting in the wings in case one or more opportunities go bust in a short period of time.
When you are thinking about High Yield Investments , you should always think about what your goals are. Are you looking to make some money for Christmas or a special event, or are you trying to replace a full-time job? Be realistic about what you can invest
If you are getting involved in High Yield Investments, you need to remember that frequently, you will get out of what you put in. How much time are you willing to put in? Remember to do more than just weigh the tangible benefits. Will you be doing something else while you’re online or will you be simply spending time to online to commit to this opportunity? Think about what any of these opportunities are worth to you.
When you are considering getting involved with High Yield Investments, remember that there are as many good investments out there as there are bad ones, and though you should always be cautious, you shouldn’t be afraid to take a risk on something that you feel might be able to help you achieve your goals. Think of it as gambling money, if you put $100 or $200 in a program and it goes belly up, not all is lost.
You can read our Unbiased, expert review of articles such asAgel from Brian Garvin and Jeff West at http://www.MLMreviewKings.com.This article may be used royalty free provided bio & links remain intact. Copyright © Mission Billion, Inc. All Rights Reserved Worldwide
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by Anthony Green
When you’re ready to dive in and start investing
The broker’s primary role is to serve as the vehicle through which you either buy or sell stock. When I talk about brokers, I’m referring to organizations such as Charles Schwab, Merrill Lynch, E TRADE, and many other organizations that can buy stock on your behalf. Brokers can also be individuals who work for such firms. Although you can buy some stocks directly from the company that issues them, to purchase most stocks, you still need a broker.
Although the primary task of brokers is the buying and selling of securities (keep in mind that the word securities refers to the world of financial or paper investments, and that stocks are only a small part of that world), such as stocks, they can perform other tasks for you, including the following:
- Providing advisory services - Investors pay brokers a fee for investment advice. Customers also get access to the firm’s research.
- Offering limited banking services - Brokers can offer features such as interest-bearing accounts, check writing, direct deposit, and credit cards.
- Brokering other securities - Brokers can also buy bonds, mutual funds, options, Exchange Traded Funds (ETFs), and other investments on your behalf.
Personal stockbrokers make their money from individual investors like you and me through various fees, including the following:
- Brokerage commissions - This fee is for buying and/or selling stocks and other securities.
- Margin interest charges - This interest is charged to investors for borrowing against their brokerage account for investment purposes.
- Service charges - These charges are for performing administrative tasks and other functions. Brokers charge fees to investors for Individual Retirement Accounts (IRAs) and for mailing stocks in certificate form.
Any broker you deal with should be registered with the National Association of Securities Dealers (NASD) and the Securities and Exchange Commission (SEC). In addition, to protect your money after you’ve deposited it into a brokerage account, that broker should be a member of the Securities Investor Protection Corporation (SIPC). SIPC doesn’t protect you from market losses; it protects your money in case the brokerage firm goes out of business. To find out whether the broker is registered with these organizations, contact the NASD, SEC, and SIPC.
The distinction between personal stockbrokers and institutional stockbrokers is important. Institutional brokers make money from institutions and companies through investment banking and securities placement fees (such as initial public offerings and secondary offerings), advisory services, and other broker services. Personal stockbrokers generally offer the same services to individuals and small businesses.
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by Christina de Wit
Aesop, the ancient Greek fabulist, was known for his kernels of wisdom — usually aimed at children. He advised that “it is thrifty to prepare today for the wants of tomorrow,” and suggested that rewards come when you “put your shoulder to the wheel”. Even though the mining business is hardly child’s play, it’s obvious that Tribune Uranium Corp’s (TSX.V:TCB) management has integrated this age-old advice into its vision as it looks forward to a year of steady growth.
As per its December 13 news release, the company has completed a $1.5 million private placement in partnership with MineralsFields by issuing 1,428,571 flow-through units at a price of $1.05 per unit (subject to regulatory approval). Each unit consists of one common share and one transferable non-flow-through share warrant, good for one share at $1.40 over one year. The company will pay out an 8% cash finder’s fee.
This latest news comes on the heels of the company’s announcing plans for its 2008 exploration and drill program on its 100%-owned Quartz Claims, located northeast of Snow Lake, Manitoba in the Reed Lake District (within the Flin Flon–Snow Lake VMS Belt). The Quartz Claims are located near VMS Ventures Inc.’s (TSX.V:VMS) recent discovery hole, which runs 11.19% Cu over 10.5 m. The 2008 work program aims to verify historical drilling and to test EM conductor bodies within the Quartz Claims.
In preparation for the 2008 exploration program (set to begin in January), Tribune’s management has reviewed historical data on the property and has determined multiple high priority targets for testing. Management is presently designing a drill program to test these targets in the first quarter of this coming year. To date, the company has a reserved drill for the entire 2008 program, and has submitted all relevant permits to the Manitoba Ministry of Mines.
The Quartz Claims cover a 4,800 ft-long electromagnetic (EM) conductor which is interpreted to lie in a fold axis. According to the company’s website, historic drilling in the 1980s by Hudbay Minerals (TSX:HBM) intersected significant gold mineralization and alternation mineralization of the sort typically associated with VMS-style deposition. Previous drilling along the eastern end of the conductor has revealed intersections grading 0.64 oz/t Au over 4.2 ft and 0.43 oz/t Au over 4.5 ft. The western end contains two EM anomalies which have not yet been drilled. Given the geology and the discovery history of the area, it is thought that these two conductors might well host significant gold mineralization. The regional geology of the Reed Lake district mainly consists of mafic and felsic volcanic rocks, overlain by later sedimentaries– which are typical of the sort found in greenstone belts.
The Flin Flon-Snow Lake VMS belt is one of the world’s such Proterozoic greenstone belts– with over 20 producing and past-producing Cu-Zn-Au-Ag deposits. Examples of world-class deposits within greenstone belts include Flin Flon, Manitoba (Cu, Zn, Au, and Ag) with 60 million tonnes, and Kidd Creek, Ontario, (Cu, Pb, Zn, Au, and Ag) with 150 million tonnes. Aside from its sheer mineral wealth, Flin Flon-Snow Lake has the advantage of having excellent infrastructure– HudBay has mills at both Flin Flon and Snow Lake, as well as a copper smelter and a zinc plant at Flin Flon.
Tribune is also planning a drill program for its other Manitoba polymetallic project on its Green Claims south of Snow Lake, along the east shoreline of Blue Lake. The company’s website describes work so far as being “limited [to] historical drilling designed to test a strong UTEM response intersected 0.75% Cu over 46.9 feet and massive sulphide exhalite grading 3.12% Cu and 2.25% Zn over 1.3 feet. The significant copper and zinc mineralization is thought to be associated with a major hydrothermal alternation system.”
With these new beginnings come some happy endings– the company expects to wrap up its drill program on its joint-venture uranium project at Botham Lake in Saskatchewan’s Athabasca basin by the end of 2007. The program encompassed 4,000 meters of drilling over four uranium anomalies. The Botham Lake claims are adjacent to Cameco’s recent Centennial Zone uranium discovery, where 18% U3O8 over 5.3 m has been reported by Cameco. Results will be released as they become available.
The 2008 season is bound to be a barnburner for Tribune’s management and shareholders. Management has done all the right things in terms of laying a strong foundation for growth, and it reflects in the company’s tight share structure of approximately 31 million shares, fully diluted. Several structural elements point to a winning formula: cash in the treasury for its drilling programs, a strategically assembled uranium/polymetallic property portfolio with ground next to proven deposits in Manitoba and Saskatchewan — two of the most mining friendly and politically stable districts in the world — and highly anticipated drill results coming out of Botham Lake. The timing couldn’t be better as these factors are all underscored by a hyperactive bull market and a uranium supply shortage.
With all of these factors taken into account, it’s easy to see why TCB could well be on the verge of experiencing some healthy price gains in the near future. In this case, perhaps the story of the Hare and the Tortoise provides a good impetus for action– “slow but steady wins the race.”
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
Resourcex Investor is an internationally distributed newsletter about emerging junior resource companies. Sign up for a free 1-month trial to our newsletter and get instant access to news and investing
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by Katherine Young
With oil prices reaching heights like they did last week, hitting the $100/barrel mark for the first time in history, exploration juniors operating in Alberta like Pennant Energy (TSX.V: PEN) stand to capitalize from being in the right place at the right time. Accounting for the oil price, the Associated Press named “an unshakeable view that global demand for oil and petroleum products will outstrip supplies,” and pointed, once again, to the energy demands of burgeoning economies in China and India.
Even as the oil price has corrected over the last few days, predictions of increased energy demand over the next several years continue. On Monday, Grant Smith reported for Bloomberg, “the fastest-growing bet in the oil market these days is that the price of crude will double to $200 a barrel by the end of the year.” Yet, even in this encouraging oil market climate, Pennant shares this week are only $0.255, representing considerable upside potential for investors.
Pennant’s Kaybob and Bronson properties, totalling 1,600 acres, are located in the famed and prolific Kaybob oil field in west Alberta. The Kaybob field is considered one of the most prolific in North America.
In September of 2007, Pennant expanded its holdings in the area by successfully bidding for the 640 acre Bronson East property located to the northeast of the Bronson West property.
Adding to its mix for success, Pennant Energy’s senior geologist, James Britton, boasts an 86% success rate for drilling commercially successful oil wells. He has commercialized over 430 oil and gas wells in total. With Pennant Energy, Britton will attempt to locate commercial quantities of oil on Pennant’s Bronson project this winter.
With experts on the team, Pennant employs several sound strategies for both offsetting risk and maximizing the potential for discovering commercial amounts of oil. Pennant’s strategy
In order to secure cash flow, in 2004 Pennant earned the right to participate in a low-risk development drilling project with operator Rideau Petroleum on the Daly Field in Manitoba. Agreeing to pay 25% of drilling and completion costs on an initial four wells, Pennant earned 22.5% working interest before payout.
Beginning with the first four wells, the joint venture partnership met with success and they went on to drill an additional four wells, which were also successful. Today, medium grade crude production, from eight wells on the Daly Field, supplies cash flow enabling Pennant to stably venture into higher risk projects that promise higher reward.
Pennant’s recent exploration efforts, focused on the Bronson property, have included several surveys to pinpoint the location of the next drill. In the winter of 2007, Pennant completed a 3-D seismic survey and geochem surveys were done in 2006, and again in the summer of 2007. The Bronson project is a 50/50 joint venture with Austin Developments Corp. (TSX.V: AUL) Austin Developments will complete its earn in by paying all the costs for the drilling of the first well, the Kaybob S#1 which was completed in August of 2007.
3-D seismic surveys, or “seismics” as they are commonly called, use sound waves to locate rock formations in the earth that are associated with oil and gas. Acoustic vibrations are created either by a controlled explosion, or more often, by use of a vibration truck which thumps the ground creating waves that radiate into the earth. The sound waves are reflected off subterranean rock layers. The length of time required for the waves to travel through rock layers of varying densities is used to create a profile of the structure.
With the use of computers, 3-D seismics have becomes incredibly detailed and complex. Billions of data points are compiled to create a three dimensional image of the underground structures thus dramatically reducing the element of chance in drilling wells.
Pennant Energy offers investors the best of both worlds: Positive geophysics and a solid approach to finances. By increasing the odds of success on the exploration side with a proven track record and by reducing risk on the financial side through joint ventures, cash flow opportunities, maintaining a tightly-held share structure and healthy bank balance, Pennant is making the best possible moves in a game where they seem determined to leave as little as possible to chance.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
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