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  • The threat of resource nationalism shifts to Barrick Gold (ABX -1.2%) and Goldcorp (GG -1.6%), as the Dominican Republic’s congress says it wants a more favorable contract on the Pueblo Viejo mine, which reached commercial production two weeks ago. If the tax rate was raised to 35% and the net smelter royalty to 5%, NAV assumptions for each company could drop $0.40-$0.50/share. [View news story]
    This certainly explains to the action in GG yesterday and today.
    Jan 31, 2013. 03:05 PM | Likes Like |Link to Comment
  • Shell (RDS.A) is going into liquefied natural gas in a big way, and reports say it is likely to snap up Repsol's (REPYY.PK) assets in Peru, Canada and Trinidad and Tobago. Repsol has said it wants to sell assets in Canada where it controls 75% of the Canaport LNG terminal, its 20% stake and sole off-taker position in the 4.4M metric tons/year Peru LNG, and its holding in Trinidad and Tobago’s Atlantic LNG. [View news story]
    While its tough to predict how the LNG market will play out, over the longer term, it appears that Shell's "striking while the iron's hot".
    Jan 29, 2013. 04:27 PM | Likes Like |Link to Comment
  • Iraq reportedly is closing in on deals with companies including Shell (RDS.A) and Eni (E) to chop production targets at a number of oilfields to more realistic levels. The government is said to be in talks with a group led by Eni to cut production at the Zubai field to 1M bbl/day from 1.2M, and is nearing a deal with Shell to chop production at the Majnoon field to 1.2M bbl/day from 1.8M. [View news story]
    It appears that Iraq got a bit too "greedy" when they negotiated the previous contracts. Given the lack of infrastructure in Iraq, trying to increase production is a Herculean job.
    Jan 29, 2013. 04:25 PM | 1 Like Like |Link to Comment
  • 2013 -- Breakout Or Comeuppance? [View article]
    I like the inclusion of NORW as a "sector bet". I'd not considered it in that light before.
    Jan 29, 2013. 04:10 PM | 1 Like Like |Link to Comment
  • More Overbought Warnings From BoAML [View article]
    Fwiw, I've been slowly, but steadily taking money off of the table since the start of the year. I'm not confident enough of an impending correction to get back into SDS, but..
    Jan 29, 2013. 04:05 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "Iraq tries to tempt Exxon to stay."

    The fee for service format used in the last round of bids weren't very attractive for the oil companies. It'll be interesting to see if Iraq backs away from that.
    Jan 23, 2013. 09:16 AM | 3 Likes Like |Link to Comment
  • Have Silver And Silver Wheaton Peaked? [View article]
    I believe that any article on silver that looks solely at it as monetary substitute is inherently flawed. While its true that silver is also considered "poor man's gold", too much of the ouput goes into industrial uses, unlike the case with gold, to only focus on the monetary aspect(s) such as QE, etc.
    Jan 17, 2013. 06:19 PM | Likes Like |Link to Comment
  • Reports of the number of casualties and hostages taken by Islamic militants at a Western-operated gas field in Algeria vary widely. Reports have said 41 foreigners were kidnapped, but a later report said 150 employees of a French catering firm also were being held. U.S. Defense Secretary Leon Panetta says Americans were among the hostages, but the number of Americans held wasn't known. [View news story]
    Regarding the alleged 150 captives from a French catering firm, it seems that the Islamists are getting tired of falafel, couscous, and hummus...
    Jan 16, 2013. 05:56 PM | 4 Likes Like |Link to Comment
  • Goldcorp Inc. (GG) declares $0.05/share monthly dividend, 11% increase from prior dividend of $0.045. Forward yield 1.53%. For shareholders of record Jan. 17. Payable Jan. 25. Ex-div date Jan. 15. (PR[View news story]
    Agreed...all in all, they seem to be the "pick of the litter", as far as the seniors go.

    Long:GG
    Jan 8, 2013. 03:50 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "Regulators ease Basel bank-liquidity rules. "

    It looks like the banks' lobbying efforts, both here, and abroad, have paid off. How quickly they forget.....
    Jan 7, 2013. 08:59 AM | 8 Likes Like |Link to Comment
  • Shell's (RDS.A) Kulluk oil-drilling ship,which ran aground near a remote Alaska island, has been refloated. Salvage teams attached a tow line to the vessel yesterday and should be able to start moving it soon, weather permitting. Crew members have not found any breaches to the Kulluk's fuel tanks, although seawater has leaked on board. [View news story]
    While this is great news, its unlikely to stem activist opposition to Arctic drilling, unfortunately.
    Jan 7, 2013. 08:46 AM | Likes Like |Link to Comment
  • Virtually All 2013 Outlooks Summarized: Part 2 - Array Of Bearish Forces [View article]
    I'm sort of surprised to see no mention made of France among potential problems in the EU. Granted, they're not as close to collapse as Spain and Italy, but from what I'm reading, the situation there is going from bad to worse pretty quickly, as far as it's economy goes.
    Jan 6, 2013. 10:18 AM | Likes Like |Link to Comment
  • Shell (RDS.A, RDS.B) is on top of the PR battle with its runaway rig off the coast of Alaska, perhaps learning from some of the mistakes made by BP during the Gulf of Mexico spill (Twitter updates: @KullukResponse). But Shell hasn’t convinced World Wildlife Fund's Margaret Williams, who says the Kulluk grounding shows Shell isn’t ready for the Arctic. [View news story]
    Having a big wig from the World Wildlife Federation opining on how best to deal with Arctic drilling would be like going to Shell's CEO for advice on the care and feeding of your pet llama.
    Jan 3, 2013. 04:22 PM | 1 Like Like |Link to Comment
  • Some Sober Second Thoughts During The Party [View article]
    I took some money off the table, today, and am continuing to look at possible exit points for more of my positions.
    Jan 2, 2013. 06:30 PM | 2 Likes Like |Link to Comment
  • Orange Juice Price Declines Could Squeeze Profits For These Beverage Makers [View article]
    LOL....I just HAD to read this article, based on the title. As P Salerno, above, notes, the author seems to have gotten things a bit "bass ackwards".
    Jan 2, 2013. 05:27 PM | Likes Like |Link to Comment
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