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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (104625)	7/7/2008 5:37:50 PM
From: elmatador	Respond to of 206330

Iraq rebuilds: "clearly identified need to improve and develop Iraq’s transport infrastructure, with investment needed to regenerate the country’s railways, ports, airports and civil aviation sectors." Message 24736299

To: Paul Senior who wrote (104625)	7/7/2008 5:51:38 PM
From: upanddown	Respond to of 206330

Paul I also bought some REP today. I feel like I was buying at a discount. Madrid closed REP.MC today at a USD fair value of $38.38 and it then trades at a 4.5% discount to that in NY? Volume is 6X higher in Madrid and I believe the price is controlled in the home country, not here. I also bought more STO when it dropped to a full dollar below fair value in Oslo (STL.OL). Oslo has 8X the volume of NY. To me, the value of these issues are set in Madrid and Oslo. All NY knew today is that we are gonna bring all energy stocks down. I'm always ready to grab these blue-light specials. John

To: Paul Senior who wrote (104625)	7/7/2008 5:55:04 PM
From: elmatador	Respond to of 206330

Usiminas most capable to handle Petrobras projects - Analysts BNamericas reported that Brazilian integrated steelmaker Usiminas is likely to be the biggest supplier and beneficiary of state oil company Petrobras, USD 5 billion, six year program to build 146 support boats. In May 2008, the oil company announced plans to lease support boats for its oil and gas exploration undertakings along the Brazilian continental shelf. The first of a total seven bidding processes consists of the manufacture of 24 boats by shipyards, which could buy the steel they need from Usiminas. Mr Pedro Galdi an analyst at local brokerage SLW said that "Usiminas is the only heavy plates manufacturer in Brazil. The ArcelorMittal Tubarão is about to start offering heavy plate products, but it will only supply smaller specific parts and not ship hull construction." Meanwhile Spanish investment bank Banif's Gilberto Cardoso Jr said that most steelmakers in Brazil are currently not able to handle projects of this magnitude. He added that "But if there is one, Usiminas is definitely the most capable right now.” According to a Petrobras spokesperson, in addition to the 146 boat project, Petrobras' logistics unit Transpetro also aims to purchase 49 ships to modernize its fleet. He added that the first phase of the bidding process has already been completed and 23 tankers are in the pipeline, being manufactured mostly by Atlantico Sul Shipyards in the northeastern state of Pernambuco. Transpetro is now launching a second bidding process to construct an additional 26 tankers. A secondary bidding process by the shipyard itself is underway to acquire the steel. Usiminas officials declined to disclose details about its participation in the auctions.