Crouching Tiger Posted October 2, 2003 Report Share Posted October 2, 2003 In an improvement of personal freedoms, China relaxed its marriage rules. People can now wed without permission from their employers and without a medical check. Well that's a relief. Link to comment Share on other sites More sharing options...
SevenOfEleven Posted October 2, 2003 Report Share Posted October 2, 2003 Well that's a relief. Ohmygoshohmygollygeegoshwillickersyepyepyep... Link to comment Share on other sites More sharing options...
Charmin Posted October 2, 2003 Report Share Posted October 2, 2003 so, what are you waiting for time to bob for some apples - Crunch Link to comment Share on other sites More sharing options...
Charmin Posted October 2, 2003 Report Share Posted October 2, 2003 Maybe Link to comment Share on other sites More sharing options...
Charmin Posted October 2, 2003 Report Share Posted October 2, 2003 the market waits for jobs data oooooooh will it be an overnight drawdown or a rocket launch tomorrow - place your bets Link to comment Share on other sites More sharing options...
Crouching Tiger Posted October 2, 2003 Report Share Posted October 2, 2003 Other forums talking about a CIT on 11/28 for the broads. Same as 7of11's for gold I believe. Link to comment Share on other sites More sharing options...
Crouching Tiger Posted October 2, 2003 Report Share Posted October 2, 2003 I don't know Charmin - think I'd be careful bobbing for 60 minute apples. The air is still. What is weird is that gold was down today and the indices were up. Soooooooooooo Link to comment Share on other sites More sharing options...
SevenOfEleven Posted October 2, 2003 Report Share Posted October 2, 2003 Maybe Looks right but the initial target's lower than the high to the left if I'm looking at it right Link to comment Share on other sites More sharing options...
SevenOfEleven Posted October 2, 2003 Report Share Posted October 2, 2003 Out of room before long - will have to break a line one way or the other. Link to comment Share on other sites More sharing options...
anjing bau Posted October 2, 2003 Report Share Posted October 2, 2003 Southwestern Resources Up 19% After Newmont JV News TdSWG 10-19.74 19.75-38 19.75+ +3.55 1,270,963 19.90 16.01 NEWMONT TO PURCHASE $6.75 MILLLION OF SOUTHWESTERN SHARES; NEWMONT AND SOUTHWESTERN TO EXPLORE LIAM PROJECT, PERU Southwestern Resources has entered into a letter of intent with Newmont Peru Ltd. under which: Newmont will purchase $6.75-million of Southwestern common shares; Newmont can earn a 50-per-cent interest in Southwestern's Liam project area by spending $5-million (U.S.) over three years, with options to earn up to a 70-per-cent interest; and Newmont and Southwestern will form a 50/50 joint venture to explore the Liam regional area and jointly spend $5-million (U.S.) over five years. Link to comment Share on other sites More sharing options...
Crouching Tiger Posted October 2, 2003 Report Share Posted October 2, 2003 XAU with Petch's bollinger bands. Link to comment Share on other sites More sharing options...
anjing bau Posted October 2, 2003 Report Share Posted October 2, 2003 Oct. 2 (Bloomberg) -- Copper futures in New York rose, matching a 30-month closing high, after a report showed the most improved outlook for the metal in four and a half years. The leading index of copper indicators, which includes metals orders and other measures of activity in the copper industry, rose 1.5 percent in July, the largest monthly gain since April 1999, the U.S. Geological Survey said late yesterday. Copper futures have risen 19 percent this year. ``We saw a turn beginning in early March, and, incidentally, that's when I went back into the equities market for the first time in three years,'' said Brian O'Shaughnessy, chief executive at Revere Copper Products Inc., a Rome, New York-based maker of copper parts for buildings and automobiles. ``We've seen a slow but steady increase'' in copper orders since a low reached in January and February. Copper for December delivery rose 1.05 cents, or 1.3 percent, to 83.35 cents a pound on the Comex division of the New York Mercantile Exchange. That matched the closing price on Sept. 5, which was the highest for a most-active contract since March 2001. Today's rise accelerated after prices rose above 82.7 cents, the 10-day moving average, triggering buy orders from commodities funds that base decisions on charts and graphs, said Eric Reyes, a copper trader at William J. O'Reilly Inc. in New York. ``There is resistance at 84.2 cents, but if we get above that area, there probably will be more buying,'' said Teddy Ruscio, a copper trader at Smith & Moore in New York. Copper Index Rises Higher copper prices in London and gains in overtime hours at companies that roll and otherwise process the metal led the 1.5 percent gain in the copper leading index, the Geological Survey said in its report. ``The growth rate of the copper leading index has begun to signal an increase in U.S. copper industry activity in the months ahead,'' said the Geological Survey, which is part of the U.S. Interior Department. The rise in the leading index is ``definitely very bullish, but these things can change quickly,'' said Lorne Kalisky, senior trader at Montreal-based American Iron & Metal Trading Inc. On the London Metal Exchange, copper for delivery in three months rose $23, 1.3 percent, to $1,825 a metric ton (82.78 cents a pound). --Claudia Carpenter in New York (1) (212) 318-2346 or [email protected] Link to comment Share on other sites More sharing options...
Crouching Tiger Posted October 2, 2003 Report Share Posted October 2, 2003 Monthly XAU with Petch's bollinger bands. If we correct we could pull back to middle dotted blue or red lines. Note where blue lines is now and XAU has gaps at 88, 78 and 75. Link to comment Share on other sites More sharing options...
SevenOfEleven Posted October 2, 2003 Report Share Posted October 2, 2003 Off to the dentist yet again (and you wondered why VampireOfEleven was awake). Thus far she's hit every damn nerve so I'll give her a good reco in the mining/drilling sector. -GrindingTeeth Link to comment Share on other sites More sharing options...
anjing bau Posted October 2, 2003 Report Share Posted October 2, 2003 NEW YORK -- Each year at the Denver Gold Forum, someone has a hoary wisecrack that finds new application. This year?s was reserved for Wheaton River [WHT]: ?It?s a boat without a transom. As long as it keeps going forward, it?s fine. But if it stops, it?ll get swamped by its own wake and sink.? Wheaton markets itself as the snappiest small-to-intermediate-to-large gold company, but cuts some corners along the way like treating its significant copper revenues on a by-product rather than the co-product basis conservatism requires. That is one reason many professionals scorn Wheaton?s rise to prominence, primarily via its prodigious stock issuances that have bought a portfolio of marginal assets with short lives. Old timers also fuss about the plush new corporate offices in Vancouver. Then there is chairman and chief executive Ian Telfer?s controversial tenure at Vengold, the junior gold company which shareholder equity was carried into an opportunistic ?Internet incubator? in 2000 with one of those era-stupid names: Itemus. The dot.com adventure flamed out in mid 2001, just when gold found its legs again. Yet for all the warning lights, Wheaton may as well be sheathed in Teflon, Kevlar and titanium. Investors comfortable with the sober pinstripe style of the senior producers may not like the hyper promotional Vancouver alternative, but you also don?t want to stand in the stock?s way in a strong gold market. With its tremendous support from key Canadian financiers and Telfer?s reputation as a fund raiser without peer, momentum has carried Wheaton to $2 per share on Amex. $2 may not sound impressive in this gold market, but remember that Wheaton shares in issue have exploded from less than 100 million in June 2002 to nearly 500 million so far this year. There are few firms that can pull that off. Wheaton is probably bullet proof as long as gold holds above $350 per ounce to allow the company to settle its starter acquisitions and line up the really big one with serious reserves and substantial production. The current rumour du jour is that Wheaton is sizing up Gabriel Resources [GBU] which owns a problem plagued deposit in Romania with nearly 11 million ounces of proven and probable reserves. Gabriel?s value has shrunk to a little more than C$400 million compared with Wheaton?s C$1.3 billon, so a deal is doable at current prices. Not so fast. A Toronto anal cyst says nobody will put a finger on Gabriel until its permitting process is nearly complete, it has made substantial progress on its village relocation project and the engineering work is good enough to satisfy the bankers. The anal cyst adds that Wheaton has no hope of making a bid below Gabriel?s net asset value of C$4.50 based on a gold price of $350 per ounce and applying a 5% discount rate. The value gap aside (Gabriel currently trades at around C$3.10), Gabriel stock is tightly held by a few strong hands whom the anal cyst says will demand a decent market premium of two times net asset value for a mine producing half a million ounces a year at cash costs of $150 per ounce for a decade. The top five shareholders command nearly 50% of shares in issue, represented by Dundee, Commonwealth Colonial, Resource Capital, Capital Research and Frank Timis. At the NAV par price, Wheaton would have to almost double current shares in issue (about 3.5 WHT shares for every GBU) to win. Even that may not be good enough. Weighted average pricing for reserves is running at more than $120 per ounce right now. Add in a competing bid premium and Wheaton could be looking at a minimum ratio of exchange approaching 4:1, requiring 520 million new shares. On an all-in costed basis at current gold prices and using recent gold M&A deals as a guide, the final price could be closer to $140 per ounce, which works out to more than C$15 per Gabriel unit. On that basis, the ratio of exchange would soar to 6:1 for Wheaton which would need to issue 780 million new shares. That looks far too large even for Wheaton and the anal cyst says the institutions holding Gabriel are unlikely to accept Wheaton paper when a permitted Rosia Montana is going to be attracting the likes of Newmont [NEM], AngloGold [AU] and Goldfields [GFI], all of which are understood to have signed confidentiality agreements with Gabriel and may proffer cash with scrip. Yet stranger things have happened and are happening. Randgold [GOLD] has played itself into position to possibly swallow Ashanti Goldfields [ASL] which is double its size. Now we have Durban Deep [DROOY] trying to prove there is life after death by putting out market feelers for minority stakes in the Porgera, Misima and Martha mines, and the piece of Lihir [LIHRY] that no-one else seems to want. When promotion meets appetite, there?s no telling what is possible ? as long as the boats keep moving forward and the tide keeps rising. Link to comment Share on other sites More sharing options...
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