HUMBOLD CAPITAL CORPORATION (HMB.A, HMB.B)
Two or tree weeks ago, I spoke with Charles A. Teare, Executive Vice President of HUMBOLDT CAPITAL CORPORATION.
Mr Teare and M. Robert W. Lamond are the principal shareholders of HUMBOLDT.
To your memory, these two persons were the principal shareholders of ORBIT OIL AND GAS that I spoke so many often here before.
Insiders never stopped to buy on HUMBOLDT.
Mr Teare is very confident about HUMBOLDT.
He told me that is a good time to have in hands a lot of cash because with the weak oil prices it is easier to find good investment opportunities in that sector.
ABOUT HUMBOLDT
HMB is an investment company with its holding concentrated in the junior oil and gas sector.
At the end of March, the net asset value per share was $1.59 (a deep discount from the closing price of $1.00).
At that date, HMB has the following positions :
4,619,889 shares in SPIRE ENERGY;
12,356,445 shares in DIAZ RESSOURCES;
5,710,735 shares in NYCAN PETROLEUM;
2,447,500 shares in BRITTANY ENERGY;
1,048,000 shares in DUNDEE PETROLEUM;
1,750,000 shares and 875,000 warrants in SHARON ENERGY.
On March 31, they have cash in hands of $8,869,000.
Mr Teare told me that they expect to receive a other $ 9,000,000 from the sale of their stake in SPIRE.
HUMBOLTD has two class of actions, the subordinate HMB.A and the multiple voting shares HMB.B.
The shares trade on the Vancouver stock exchange. They are thinly traded.
In the first quarterly report, Mr Lamond indicated that 'the Company will devote an increasing effort towards market recognition so that the gap between the intrisic value of Humboldt's shares and market price can be steadily narrowed.
Yours truly
Gilbert Leblanc
p.s. My brother has a small position in HMB. |
