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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: 2MAR$ who wrote (84959)12/22/2011 3:57:18 PM
From: average joe  Respond to of 217561
 
Western Potash's Milestone at 66.6 Mt of KCl measured

2011-12-16 16:33 ET - News Release

Mr. Patricio Varas reports

WESTERN POTASH FILES UPDATED TECHNICAL REPORT ON SEDAR, ADVANCES EIS, AND UPDATES THE MEASURED INDICATED AND INFERRED POTASH RESOURCE AT MILESTONE

Western Potash Corp. has received receipt of an updated NI 43-101 technical report titled, "NI 43-101 Technical Report Summarizing the Preliminary Feasibility Study for a Potash Solution Mine on the Milestone Project (Subsurface Mineral Lease KLSA 008), Saskatchewan." The company confirms that this report has been filed on SEDAR on Dec. 15, 2011. The technical report includes an updated resource estimate and a summary of the company's prefeasibility study announced by news release dated Oct. 31, 2011. The prefeasibility study was completed by AMEC Americas Ltd. AMEC is a leading international engineering and project management company that currently manages multiple potash expansion projects in Saskatchewan with a capital value of several billion dollars.

The updated resource estimate slightly increases the Milestone recoverable Potash resource (Patience Lake, Belle Plaine and Esterhazy members, including the upper halite interbed) to 66.6 million tonnes of measured resource (contained potassium chloride), 186.9 million tonnes of indicated resource and 708.2 million tonnes of inferred resource. Inferred resources around the Milestone project plant site, land and associated infrastructure have been removed from the estimate. Purchase of the plant site land was announced by news release dated June 21, 2011. Mineral reserves were not reported within this updated technical report. Mineral reserves have not been estimated because the company is negotiating to obtain mineral leases for all the freehold mineral rights within the indicated and measured resource areas. These negotiations are expected to be completed within the next few months. Mineral reserves will be presented when acquisition of these mineral leases is substantially complete. The updated resource estimate at Milestone was prepared by Agapito Associates Inc. (AAI) of Grand Junction, Colo. The qualified persons for the Resource Estimate were Dr. Michael Hardy, PE (United States), PEng (SK), PG (U.S.), and Dr. Douglas Hambley, PE (U.S.), PEng (SK), PG (U.S.).

A detailed summary of the measured, indicated and inferred mineral resources within Crown and leased freehold areas are presented in the associated tables.

AAI has made estimates of the measured, indicated and inferred mineral resources based on a radius of influence (ROI) similar to that applied by mine operators and peer group explorers working on solution mining properties in the region. Furthermore, the measured, indicated and inferred mineral resources were arrived at by discounting the overall calculated tonnage by loss factors of 5 per cent, 9 per cent and 25 per cent, respectively, to account for unknown geologic anomalies. The resulting potash quantity was further reduced using an extraction ratio factor of 34.6 per cent, which is the estimated potash available to be extracted for the life of an envisioned operation leaving sufficient material to support cavern stability. The resource estimate was prepared in accordance with the requirements of NI 43-101 of the Canadian securities regulators.

The recently completed prefeasibility study confirms that the Milestone project shows significant positive economics, and that the asset is of sufficient size and grade to support primary and secondary solution mining for more than 40 years at a production rate of 2.8 million tonnes per year. The study concluded that there are no known limitations that may prevent a successful and profitable project outcome. The feasibility study is in progress and will produce results which adhere to the AACE Class 3 classification for projects. Water sources are currently being evaluated for the project.

A summary of the assumptions and results of the prefeasibility study are:

stockwatch.com

Target annual production rate: 2.8 million tonnes per year

Life of mine: Greater than 40 years

Years of construction: Three

Construction start-up: 2013

Production start-up: 2016

Years to full secondary production: Six

Long-term potash price (FOB gate): $511 (U.S.)/tonne

Assumed exchange rate: $(U.S.)/$(Canadian) -- 1.00

Taxes and royalties: $28.90/tonne

Sustaining capex percentage rate: 2 per cent

Base case: 100-per-cent equity

Initial capex: $2,458-million

Port capex: $300-million

Total initial capex: $2,758-million

NPV (10): $4.14-billion

IRR: 22.70 per cent

Payback period: Five years

Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Milestone environmental impact statement update

The company also reports that all environmental baseline data required for the preparation of the EIS have now been collected. On Oct. 11, 2011, the company submitted a project proposal to the Saskatchewan Ministry of Environment. The project proposal provides a conceptual level description of the Milestone project and formally initiates the regulatory review process under the provincial Environmental Assessment Act. Upon review of the project proposal, the government of Saskatchewan will issue project-specific guidelines, which provide detailed information requirements to be included in the EIS. The EIS remains on schedule and on budget, with an anticipated EIS submission date of the third quarter of 2012. Golder Associates Ltd. of Saskatoon, Sask., continues to assist the company with the preparation of the environmental impact statement for the Milestone project. Golder is an employee-owned, global company providing consulting, design and construction services in earth, environment and related areas of energy. Golder was chosen by the company due to its commitment to technical excellence and its experience with environmental assessments for potash projects.

The 100-per-cent-owned Milestone property, comprising 500 square kilometres, is located 30 kilometres southeast of Regina and southeast of Mosaic's Belle Plaine mine, one of the largest producing potash solution mines in the world.

Brazil update

On July 28, 2008, the company signed an agreement with Amarillo Gold Corp., a company related by a common director, to acquire potash mineral rights in Brazil. Amarillo, through its Brazilian subsidiary, submitted applications on behalf of the company for 113 potash permits totalling 982,962 hectares within potash prospective portions of the Brazilian Amazon basin. The company is pleased to announce that these permits have now been granted by the Brazilian government. These potash permits are currently being transferred into the company's wholly owned Brazilian subsidiary, Potassio Ocidental Mineracao Ltd. The subsidiary has also, since its incorporation in December, 2008, submitted its own applications for an additional 53 potash permits totalling 91,245 hectares. These additional permits are located in the Amazon basin and have been granted to the subsidiary by the Brazilian government.

We seek Safe Harbor.



To: 2MAR$ who wrote (84959)12/22/2011 4:40:02 PM
From: average joe  Respond to of 217561
 
"Leni Keough's Olivut Resources Ltd. (OLV), down 10 cents to 84 cents on 8,000 shares, plans to sell 1.6 million flow-through shares at $1.25 and 909,090 regular shares at $1.10. (The split suggests Olivut will spend $2-million next year on its HOAM diamond project near Fort Simpson in the Northwest Territories and $1-million on developing gem plays in South America.) There is no word yet if insiders will be buying. Investors will be watching closely to see if Pierre Lassonde will continue to bankroll Ms. Keough. Mr. Lassonde, the founder of Newmont Mining Corp. Of Canada Ltd. (NMC: $61.11), is ballyhooed by investors and analysts alike as a man with the Midas touch. (Mr. Lassonde had a big success with diamonds, Harry Winston Diamond Corp. (HW: $10.35), and a bigger defeat that the market seems willing to forgive: Shore Gold Inc. (SGF: $0.325).) Investment guru John Kaiser maintains Olivut as a "new bottom fish speculative cycle hold 100 per cent" (note the weasel words) because of its "homerun" potential, to which the presence of Mr. Lassonde is a major contributor. Mr. Kaiser's enthusiasm is dulled by Ms. Keough's penchant for secrecy, not to mention her company's modest results so far, which he says leaves investors with nothing but the hope that "maybe this year we get lucky." Unfortunately 2011 was another unlucky year, so keeping Mr. Lassonde enthused could be a challenge."

Olivut is exploring in Uruguay for diamond. Insiders own about 90% of the stock.

olivut.com



To: 2MAR$ who wrote (84959)12/22/2011 6:29:50 PM
From: TobagoJack  Respond to of 217561
 
just in in-tray, per greed n fear


· If the ECB has not been doing enough to monetise according to many its critics, it is going out of its way to help the banks. The ECB’s €489bn three-year loans this week should help European banks through their massive bond refinancing schedule in coming months.

· The other issue is whether banks will use this facility to buy lots of Eurozone sovereign debt. GREED & fear doubts the banks will behave in such a manner so long as these banks have not been nationalised and taken over by governments. The interest of their shareholders is to deleverage rather than to take on new risky lending.

· GREED & fear would still advise investors to use any rebound in the S&P500 to the 200-day moving average as an opportunity to reduce exposure further to risk assets. The dramatic collapse in trading volumes in recent weeks is an indication of the damage done by the relentless volatility. GREED & fear would also advise investors to continue to bet against the euro.

· Asia saw an example of suppression of late with Singapore’s decision earlier this month to impose a draconian 10% additional stamp duty on foreign purchases of residential property. In GREED & fear’s view this latest measure was the brainchild of the Monetary Authority of Singapore and was prompted by concerns about capital inflows and soaring asset prices ultimately destabilising the local economy.

· There may also be a populist angle given that the focus on foreigners may sell politically. Still Singapore will have to be very careful about any retreat from its single minded and thus far supremely successful focus on the recruitment of “foreign talent” in recent years.

· Indonesia is on the cusp of securing yet another year of relative outperformance in the context of an Asia Pacific ex-Japan benchmark. In GREED & fear’s view Indonesia’s premium rating is still justified by the highest return-on-equity in the region and also by the highest net interest margins in terms of the banking sector.

· Bank Indonesia resumed monetary easing during the past quarter given the weakening external environment and continuing benign inflation. The conservative fiscal stance is another reason why the central bank has felt comfortable resuming easing. Still the long term investment case would probably have been helped if the Indonesian central bank had displayed more caution.

· Growth should continue to be driven not only by consumption but also by an accelerating investment cycle in Indonesia. There are as yet no worries about excess investment given the obvious deficiencies in infrastructure. This is why after protracted delay it is encouraging to GREED & fear that a land clearance law was finally passed by parliament last week.

· A further positive has been growing evidence of foreign direct investment across a variety of sectors where multinationals have been attracted back by the improving story. The one potential drawback here is that the rising FDI poses growing competition for dominant incumbents.

· The positive domestic momentum also explains why Indonesia has not succumbed as severely as other Asian markets have to on-going bouts of Euroland-related risk aversion. This is because domestic investors have remained buyers. This has proved an important support whenever foreigners sell.

· One casualty of the ongoing risk aversion caused by the continuing Eurozone crisis has been the lack of the usual pre-election rally in Taiwan. The extremely negative sentiment has been primarily driven by growing evidence of an economic slowdown partly driven by weakening external demand.

· The mood has also not been helped by a far closer presidential election race than previously expected, primarily because of the successfully moderate stance adopted by the DPP opposition candidate Tsai Ing-wen.

· Taiwan President Ma Ying-jeou should in GREED & fear’s view ultimately prevail in January’s election because the economic relationship with China has improved significantly under his watch, and his government has successfully stolen many of the DPP’s more populist policies designed to counter growing concerns about wealth distribution and unaffordable property prices.

· The potential emergence of a real holding tax on residential property based on real market prices poses a major long term threat to Taiwan’s elevated residential property values because of the large percentage of vacant units. For the current high values stand in stark contrast with the large vacant supply.

· The cross-Strait relations should continue to improve if the KMT wins. Still if the DPP pulls off a surprise victory, the “Capital Links” story will go on hold for awhile. There is unlikely to be a complete disaster since the DPP, under its current leader, has significantly moderated its previous stance.

· From a valuation perspective, the Taiwan market is relatively cheap, though well above the trough valuations seen in late 2008 in terms of trailing price to book. There is clearly a risk of such a re-test, with the downside momentum likely to be accelerated from a stock market perspective if there is a negative political shock.

· GREED & fear will reduce the weighting in Taiwan in the Asia Pacific ex-Japan relative-return portfolio by a further 2ppts to a small underweight. The longstanding underweight in Australian financials will be reduced from zero to 3ppts. Hong Kong will also be reduced by 1ppt.

· The investments in drugstore operators Sugi and Tsuruha in the Japanese long-only portfolio will be increased by 2ppts each. The money will be raised by removing Fast Retailing. A 4ppt investment will also be initiated in potential casino play, Sega Sammy, a maker of gaming equipment. This will be paid for by reducing the existing investments in Suzuki Motor and Sumitomo Metal Mining by 2ppts each.



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To: 2MAR$ who wrote (84959)12/23/2011 11:59:08 PM
From: average joe2 Recommendations  Read Replies (1) | Respond to of 217561
 
Jonathan Ratner, National Post
Friday, Dec. 23, 2011

It’s been another tough year for investors, the global economy and financial markets as a whole. So it’s safe to say we could all use a laugh or two. Here is our annual compilation of some of the best jokes of 2011, a few classics and some amusing videos. Enjoy!

A Greek, an Irishman and a Portuguese go into a bar and order a drink. Who picks up the bill?

A German.

OFFICIAL SCHEDULE FOR EUROZONE SUMMIT

19:15 Working session of the European Council

20:00 Working dinner

22:00 Bilateral meetings/Eurozone only session

22:15 Press Conference

22:20 Silvio Berlusconi heads off to the nightclub, drinks on him. Angela Merkel declines because she wants to, Nicolas Sarkozy because he has to, and George Papandreou because he can’t afford the taxi back.

BEAR: What your trading account and wallet will be when you take a flyer on that hot stock tip your cab driver gave you.

BULL: What your broker uses to explain why your mutual funds tanked during the last quarter.

BOND: What you had with your spouse until you pawned his/her golf clubs to invest in Groupon.

In New York, the Occupy Wall Street people blocked 3 subway stations today. Take that, all you fat cats who ride the subway all day. You’re next, people who use the internet at the public library. – Craig Ferguson

Earlier this week, a protester at Occupy Wall Street proposed to his girlfriend. His exact words were, ‘Will you occupy my parents’ basement with me until I get a job?’ – Conan O’Brien

Three wealthy investors who are already worth millions won the $254 million Powerball jackpot. Yeah, in a related story, everyone’s head at Occupy Wall Street just exploded. – Conan O’Brien

The stock market plunged over 389 points because of financial news in Italy. They’re calling this the worst Italian disaster since Olive Garden introduced that fettuccini alfredo. – Jay Leno

President Obama just went to the G20 summit to give Europe advice on its debt crisis. Wait, Europe’s getting economic advice from Obama? That’s like J.Lo getting marriage advice from Kim Kardashian. – Jimmy Fallon

The World Economic Forum, which ranks economies, moved the United States down to 5th place. But we’re still the fattest, so that’s good. – Jimmy Kimmel

David Letterman’s “Top Ten Supercommittee Excuses”

10. ‘Spent too much time picking a cool name for the committee’

9. ‘Got distracted by Congress’ new ‘Donkey Kong’ machine’

8. ‘Wasted time trying on each other’s hairpieces’

7. ‘When your options are to solve the national debt crisis or see the new ‘Twilight’ movie, you see the new ‘Twilight’ movie’

6. ‘Quit early to get in line for the Black Friday sale at Annie Sez’

5. ‘It’s the curse of the chupacabra’

4. ‘We’re assembling a special committee to come up with excuses’

3. ‘It’s Robert Wagner’s fault’

2. ‘Hey, normally it takes us twice as long to get nothing done’

1. ‘President Santorum will figure it out’

I’m not saying that the customer service in my stock brokerage office is bad, but when I went in the other day and asked the clerk to check my balance … She leaned over and pushed me.

A market analyst is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today.

Why did Greece fail to get the latest installment of EU/IMF aid?

Because no one in Greece works long enough to complete the application form.

What’s the capital of Greece?

About €3.

Over the weekend, President Obama took his daughters to a bookstore. Barack bought Malia ‘The Phantom Tollbooth,’ while Malia bought Barack ‘Economics for Dummies. That’s right, Obama bought eight books for Sasha and Malia. Yeah, I was reading all about it on China’s credit card statement. – Jimmy Fallon

Two things you need to know about taxes. They’ve extended the deadline to April 18, and when you write your check, just make it out to China. – David Letterman

Will we default on our debt, and will Canada let us crash on their couch for a while? – Stephen Colbert

I was sure that the Republican plan to fix the economy by defaulting on the national debt would work, but apparently it didn’t. The unemployment rate is now at 9.2%, which is scary because experts say 9.5% is the point at which people are desperate enough to consider Michele Bachmann. – Bill Maher

What economic model correctly forecasts the outlook for the European economy: A double-dip recession, a V-shaped recovery, or something else?

The bathtub. A steep decline, then a period of stagnation, then it goes down the drain.

You know you’ve gone to the wrong stockbroker when you ask him to buy shares in IBM and he asks you the ticker.

The pessimist sees the glass as half empty. The optimist sees the glass half full. The stock market day trader just adds whiskey.

An American investment banker was at the pier of a small coastal Greek village when a small boat with just one fisherman docked. Inside the small boat were several large yellow fin tuna.

The American complimented the Greek on the quality of his fish and asked, “How long does it take to catch them?” The Greek replied: “Only a little while.”

The American then asked why didn’t he stay out longer and catch more fish? The Greek said he had enough to support his family’s immediate needs. The American then asked, “But what do you do with the rest of your time?”

The Greek fisherman said, “I sleep late, fish a little, play with my children, take siesta with my wife, Maria, stroll into the village each evening where I sip wine and play cards with my friends, I have a full and busy life.”

The American scoffed, “I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat with the proceeds from the bigger boat you could buy several boats, eventually you would have a fleet of fishing boats.

Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing and distribution.

You would need to leave this small coastal fishing village and move to Athens, then London and eventually New York where you will run your expanding enterprise.”

The Greek fisherman asked, “But, how long will this all take?” To which the American replied, “15-25 years.”

“But what then?” The American laughed and said that’s the best part. “When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions.”

“Millions … Then what?” The American said, “Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play cards with your friends.”