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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (49974)	12/10/2012 11:44:57 AM
From: E_K_S	Respond to of 78496

Verde Potash Plc (AMHPF) -OTC Markets - A small add of shares for me. Bought back shares sold last month w/ an additional add to bring my cost basis much lower. Company has a lot of valuable resources specifically in Potash fertilizer. My only concern is that the Brazil government w/ be a partner in developing this resource and they do not appreciate investments from foreigners. Hopefully as the value of these resources are realized, the non domestic investors (like me) will also benefit and not be shut out through excess foreign taxes and/or a private stock issue. EKS

To: E_K_S who wrote (49974)	5/8/2013 1:33:51 PM
From: E_K_S	Read Replies (1) \| Respond to of 78496

This is one I continue to hold a small position in. Company out w/ pretty good earnings. The thing that attracted me to this company is it sold at a discount to it's tangible book. I started to pick up shares around $8.00/share. TBV is/was $10.34/share. Company remains profitable but as they moved into the gel tablet fish oil business, EPS were lower due to one time charges and certain seasonal fish catch limits. Their fish Oil Gel tablets is a high margin business. Going forward as they grow this segment, that may help smooth out both revenues and earnings. PE is tracking at 14x but falling w/ analysts looking at a forward PE at 11x. Omega Protein Corp. (OME) -NYSE 10.08 1.29 +14.72% Omega Protein Announces First Quarter 2013 Financial Results First Quarter 2013 Highlights o Revenues: $48.9 million for the quarter, compared to $63.1 million in the 2012 fourth quarter and $41.1 million in the 2012 first quarter o Gross profit margin: *24.7% for the quarter, an increase from 20.5%* in the 2012 fourth quarter and 21.6% in the 2012 first quarter o Net income/loss: Net income of $2.8 million for the quarter, compared to a net loss of $0.5 million in the 2012 fourth quarter and net income of $1.8 million in the 2012 first quarter o Earnings: Earnings per diluted share of $0.14 for the quarter, compared to a loss per diluted share of $0.03 in the 2012 fourth quarter and earnings per diluted share of $0.09 in the 2012 first quarter o Adjusted EBITDA: $10.0 million for the quarter, compared to $11.6 million in the 2012 fourth quarter and $7.2 million in the 2012 first quarter "We continued to benefit from better animal nutrition sales prices which helped us generate our third consecutive quarter of consolidated gross margin expansion and increased earnings versus last year's first quarter. This was achieved despite higher cost per unit of sales associated with the low fish yields in the 2012 fishing season," commented Bret Scholtes, Omega Protein's President and Chief Executive Officer. "We are encouraged by the progress in our human nutrition segment in the first quarter as sales of our OmegaActiv concentrated fish oil continued to grow and we expanded into the dairy protein market with our acquisition of Wisconsin Specialty Protein. We believe our human nutrition segment growth initiatives will drive improved consolidated margins in the long-term." EKS

To: E_K_S who wrote (49974)	5/19/2013 1:05:23 PM
From: E_K_S	Read Replies (1) \| Respond to of 78496

Omega Protein Corp. (NYSE: OME) - closed out position 40% gain SUPERVALU Inc. (NYSE: SVU) - Closed out my common stock position and booked a 23% gain Copper Mountain Mining Corporation (CPPMF) - upped position by 30% Abraxas Petroleum Corp. (NasdaqCM: AXAS) - Peeled off high priced shares for small loss Penn West Petroleum Ltd. (NYSE: PWE) - peeled off high priced shares for small loss Enerplus Corporation (NYSE: ERF) - peeled off high priced shares for small loss I closed out my position in OMEGA PROTEIN CORP w/ buys in 3/2012 and 9/2012. I may revisit the company after a few more quarters are booked as I bought this based on it's TBV of $10.15/share. Now that it has exceeded this value, I am still suspect that the company can deliver sustained consistent earnings. This has been a problem in the past. If they can, stock could be worth $12.50/share or more and less if they run into more issue. Closed out my common shares of SVU and booked a long term capital gain from low priced shares bought 5/2012. I still hold a 2% portfolio position in the 2016 SVU 8.25% Notes. I decided to keep these until they are called and/or I submit in a dutch tender offer. I hold the 28% gain in the portfolio until the gain is realized. I upped my position in the Jr. Copper miner CPPMF after their Q1 earnings report. I thought it was good reflecting a 5.5 PE if annualized. Company also reported a problem w/ their milling equipment causing the stock to reach an all time low. That for me is/was a buying opportunity since machines can be fixed. CPPMF is still a small position in the portfolio representing only 0.33%. I intend to build this up to a 1%-2% position, once I am assured that their mine is operating at 95% efficiency and their new milling operation through stage II is functioning at/or near 95% capacity. There is no rush to establish this position as I expect further declines in metal and resource prices because of a stronger $US resulting in lower commodity prices. Been selling some high priced shares in several of my smaller E&P oil companies. I have bought lower cost shares reducing my cost basis and now selling off the high priced shares utilizing my small accumulated losses to off set some of my gains from other sales. EKS