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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (46809)	12/8/2005 12:00:59 PM
From: russwinter	Read Replies (3) \| Respond to of 110194

What a sleazy outfit CFC is. 40% of all loans were IOs and pay option, and one wonders how much of that is just churning existing customers, as 22,835 or 54.4% of the month's business were refis. Still trying to pass off the steady increase in deliquencies as "Katrina", wonder how much longer that dog ate the homework excuse works. Mortgage loan fundings for the month of November were $42 billion: Pay-option loan fundings for the month were $7.9 billion Interest-only loan volume was $8.9 billion Delinquencies in the servicing portfolio rose 26 basis points from October 2005 to 4.58 percent at the end of November

To: ild who wrote (46809)	12/8/2005 12:30:50 PM
From: ild	Read Replies (1) \| Respond to of 110194

Date: Thu Dec 08 2005 12:35 trotsky (@GSS) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved institutions have been heavy buyers of GSS all the way down after the St. Jude takeover announcement. the consensus up until now has been that GSS overpaid for St. Jude, but one has to question that assessment. the acquisition sure looks better now with the recent rise in the gold price, and apart from that, there are undeniable synergies. St. Jude's projexts in Ghana are close to GSS's mines, and there remains a lot of exploration potential in addition to the already proved resources. furthermore, the acquisition means that GSS now has an even better growth pipeline than previously. among the evolving mid tier producers, GSS has one of the most impressive growth strategies. the market now seems in the process of reassessing this potential. note also, as mining at the Wassa project progresses, costs are set to fall dramatically ( two reasons: 1. Wassa having been connected to the power grid and 2. low grade surface material that's being mined at the beginning later giving way to markedly higher grades just below ) , which in turn should quickly restore the company's profitability. in addition to all this, GSS has great gold price leverage due to the fact that its costs are upper mid range for the industry. Date: Thu Dec 08 2005 12:17 trotsky (@NSU) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved thinking about possible consolidation targets, this one comes to mind as well. it's very cheap, and Randgold has its operations nearby. Randgold is also on record w.r.t. looking for opportunities. NSU would be a good fit geographically. Date: Thu Dec 08 2005 12:11 trotsky (@OZN) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved it seems the stock has now digested the recent capital raising. an important point to keep in mind about OZN: although shareholders should probably hope that it stays independent, it's actually a prime takeover candidate in the juniors universe. it owns the type of deposits the majors are interested in ( i.e. big and apparently economic orebodies in a mining-friendly jurisdiction ) , and with GFI already joint-venturing Essakan and being on record that it wants to grow its non-SA output by 1.5m. oz., GFI is the most likely suitor.