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  • Steve Palmer Buys The Summer Sleepers

    Steve Palmer, founder of AlphaNorth Asset Management, has a "buy cheap, sell dear" investment strategy that wins, as the outperforming return on one of his investment funds demonstrates. In this interview with The Energy Report, Palmer unveils a handful of resource stocks that are slumbering through the summer doldrums, gathering strength for the Fall Revival, when undervalued stocks soar.

    The Energy Report: AlphaNorth Partners Fund's Class F Shares was recently ranked No. 1 in the Globefund database, with 43.4% return over five years. How have you been able to beat Standard & Poor's [S&P], the Toronto Stock Exchange Venture Index [TSX.V] and the S&P/TSX Total Return Composite? What's your secret?

    Steve Palmer: We strive to be ahead of the curve on our calls. We do a lot of bottom-up stock picking-we look to identify promising situations before everyone else does. We typically invest in companies before there is analyst coverage or significant institutional ownership. We've had some decent wins with this strategy, I must say.

    TER: What do you look for in under-the-radar firms?

    SP: We are growth-oriented. We look at firms with a lot of upside potential and minimal downside. We like to invest in private placements, where we typically get the additional leverage of a warrant.

    TER: How deeply do you investigate a company before you buy its shares?

    SP: We usually meet with management before we buy shares. We do a technical analysis overlay on the stock to determine if it is a good entry point.

    TER: You recently remarked that energy stocks were the best performing sector in 2014. Is that mainly due to oil and gas performance?

    SP: The energy sector in Canada is dominated by oil and gas. When I made that reference, I was referring to the BMO Small Cap Index. The energy sector in that index has performed quite well year to date.

    TER: What's driving that performance?

    SP: Resources have been generally weak during the last three years. The energy sector is the first sector to rebound from the downturn. We are starting to see strength in the precious and base metals sectors, but energy was first to regain momentum. The price of oil has been quite strong, at over $100/barrel. In North America, natural gas inventories dropped to very low levels last winter. That caused a rebound in the price of natural gas, which has certainly helped the related energy stocks.

    TER: Is that rebound also due to growth in the manufacturing base in North America?

    SP: The primary driver was the inventory decline due to a very cold winter. But manufacturing is picking up with the general improvement in the economy, and that is an excellent development for energy stocks.

    TER: Are the ongoing global conflicts affecting fossil fuel prices in North America?

    SP: Conflicts around the world are impacting the oil price a little bit, motivating a premium. But this is not the case with natural gas.

    TER: Why not?

    SP: Our natural gas resources are largely sold directly into the North American market. Elsewhere in the world, natural gas can be significantly more expensive. In China and Japan, for instance, natural gas consumers are paying approximately $12/thousand cubic feet [$12/Mcf], which is three times the amount that North American consumers are paying.

    TER: How will exporting natural gas from Canada and the U.S. affect global prices?

    SP: Over the longer term, we will see a convergence in the price if liquified natural gas [LNG] becomes pervasive. It will be arbitraged out, just like oil. You can transport oil anywhere; the price is generally the same throughout the world. It will be the same with gas.

    TER: You have been consistently bullish on graphite. Why?

    SP: The markets for graphite are growing tremendously. One of the major areas of growth in graphite demand is for use in batteries, and the electric car is experiencing an upsurge of growth.

    TER: Why will the junior markets heat up in the fall?

    SP: Simply put: Summer is normally a slow period for the stock markets. A lot of people are away, so many companies hold back news until people are back at their desks in September. Volumes are light.

    TER: What's your outlook for base and precious metals?

    SP: The short story is that the junior metals market in Canada has been in a significant downtrend since the spring of 2011. Since then, the TSX.V has lost almost two-thirds of its value. The performance rebound started first with technology and life sciences companies, followed by the energy sector. Base and precious metals are the last two sectors to rebound from the historic downturn, and they are set to explode going forward, in our opinion.

    TER: During the long downturn in gold, have you held on to junior gold stocks, or are you in and out of the market with the juniors?

    SP: We sold a lot of our junior precious metal holdings awhile back. For several years, we have not played much in the gold space. It got very overheated, with the consensus view that gold was going to multi-thousands of dollars an ounce. We disagreed and focused on other areas. This was the right call and turned out well for us.

    TER: The AlphaNorth funds have performed extraordinarily well. Are there certain sectors that you concentrated on?

    SP: Our success is due to a combination of factors. We try to sell at the right time to maximize our gains. During the downturn, we minimized damage in sectors like precious metals and the resource commodity space. We were among the first to invest in sectors that have performed great, like the life sciences and technology. We have had good success in bottom-up stock-picking. We have been fortunate to have picked some well-positioned, cheap stocks and sell them at the right time.

    TER: For H2/14, do you have any advice for investors in terms of portfolio investments?

    SP: This summer lull that we are currently experiencing is a great time to invest, because the stock markets will likely reenergize in the fall. There is going to be a rotation into resource juniors that have not performed. Positive returns follow well-measured risk.

    TER: Good talking to you, Steve.

    SP: Thanks for your interest.

    This interview was conducted by Peter Byrne of The Energy Report and can be read in its entirety here.

    Steve Palmer is a founding partner, president and chief investment officer of AlphaNorth Asset Management, and currently manages the AlphaNorth Partners Fund, AlphaNorth Growth Fund and AlphaNorth Flow-Through LPs. Prior to founding AlphaNorth in 2007, Palmer was employed as vice president at one of the world's largest financial institutions, where he managed equity assets of approximately CA$350M. Palmer managed a pooled fund, which focused on Canadian small-capitalization companies, from its inception to August 2007, achieving returns that were ranked No. 1 in performance by a major fund-ranking service in its small-cap, pooled-fund category. He also managed a large-cap fund, which ranked in the first quartile of performance among other Canadian equity-pooled funds. Palmer earned a bachelor's degree in economics from the University of Western Ontario and is a Chartered Financial Analyst.

    Want to read more Energy Report interviews like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see recent interviews with industry analysts and commentators, visit our Streetwise Interviews page.

    DISCLOSURE:
    1) Peter Byrne conducted this interview for Streetwise Reports LLC, publisher of The Gold Report, The Energy Report, The Life Sciences Report and The Mining Report, and provides services to Streetwise Reports as an independent contractor.

    2) Streetwise Reports does not accept stock in exchange for its services.
    3) Steve Palmer: I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    4) Interviews are edited for clarity. Streetwise Reports does not make editorial comments or change experts' statements without their consent.
    5) The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.
    6) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.

    Streetwise - The Energy Report is Copyright © 2014 by Streetwise Reports LLC. All rights are reserved. Streetwise Reports LLC hereby grants an unrestricted license to use or disseminate this copyrighted material (i) only in whole (and always including this disclaimer), but (ii) never in part.

    Streetwise Reports LLC does not guarantee the accuracy or thoroughness of the information reported.

    Streetwise Reports LLC receives a fee from companies that are listed on the home page in the In This Issue section. Their sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.

    Participating companies provide the logos used in The Energy Report. These logos are trademarks and are the property of the individual companies.

    101 Second St., Suite 110
    Petaluma, CA 94952

    Tel.: (707) 981-8204
    Fax: (707) 981-8998
    Email: jluther@streetwisereports.com

    Jul 24 5:41 PM | Link | Comment!
  • Catalyst Check: Updating The Progress Of Energy Stocks On The Natural Resources Watchlist

    At the beginning of June, The Gold Report assembled an all-star expert team to create a Natural Resources Watchlist, a promising portfolio of mining and energy companies with upcoming catalysts such as a maiden NI 43-101, funding from a strategic partner, a permitting milestone or a feasibility study. Keith Schaefer, editor and publisher of the Oil & Gas Investments Bulletin, and Rick Rule, CEO of Sprott US Holdings Inc., proposed five energy companies with many resources at play. A lot has happened since that discussion in Vancouver. The total portfolio is up 14% as of today. Let's check in to see how the individual energy stocks are faring.

    TER: As of today, NXT Energy Solutions Inc. (NSFDF) and its reservoir discovery technology is up since June. Did one of the big contracts you were expecting come in?

    KS: The stock has been up 50%, but that may be because the company has found a buyer, rather than because of a contract deal. This is one I am still watching.

    TER: Your producer pick was Chinook Energy Inc. (OTC:CNKEF) [CKE:TSX.V]. As you predicted, Chinook announced that it sold its Tunisian assets for $127.7M to Medco Tunisia Petroleum Ltd. [a subsidiary of MedcoEnergi Internasional] [ID:MEDC]. The deal effectively makes Chinook a domestic Canadian oil and natural gas company. What is your outlook now for this company?

    KS: When the market didn't respond as positively as we expected, we realized the deal had already been priced in, and we sold. We have been selling oil and gas like mad in the last week and getting into service and cash. We are waiting for capitulation-for a spike down on big volume-to buy back in.

    When the energy market changes, it changes fast. The market turned on a dime when the Weekly Natural Gas Storage Report came out on July 10. Some people are thinking we have enough storage. Combined with the realization that Iraqi insurgents are not going to impact the oil fields, both oil and gas prices are down. I think prices could go even lower.

    TER: Rick, you named Devon Energy Corp. (NYSE:DVN) as your sensible pick. It has turned out to be a profitable pick, up nearly $5. The company recently announced a $2.3 billion sale of U.S. non-core assets as part of a portfolio shift. Was that the catalyst you were watching, and is there more to come?

    Rick Rule: Devon will be able to redeploy those assets, and that will look good for a while. But I was more interested in the company as a play based on the continued strength in natural gas prices.

    TER: Does the news of decreased net injections worry you?

    RR: While micro-cap stocks can gain or lose 10% by inhaling or exhaling, a company like Devon, which has high liquidity and can continue to move forward, is not as impacted. I would put trailing stops in place, however.

    TER: The other catalyst you said you anticipated was the return of normal insanity around mining stocks-at least halfway. Any signs that turnaround is on the way?

    RR: Companies are getting financed and the market is improving, but there is no insanity in the market-yet.

    TER: Sprott Global Resource Investments Ltd. is hosting a Natural Resource Symposium in Vancouver July 22-25, where you will be a featured speaker. Are attendees at events like this impacted by daily swings in the markets, or are they looking for longer-term insights? Do daily events affect what you will say from the stage later this month?

    RR: Unlike most investor conferences, the attendees pay to attend, so our loyalty is to the 500 people in the audience. The 45 exhibitors were all qualified by the major speakers, and are there to share information. But wisdom is not exclusively delivered from on high. I know a lot of the people who will be attending, and these are seasoned investors. There is a lot to be learned from fellow attendees. These are people who are in it for the long term.

    TER: Thank you both for your time.

    This interview was conducted by JT Long of The Energy Report and can be read in its entirety here.

    Rick Rule, CEO of Sprott US Holdings Inc., began his career in the securities business in 1974. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His company has built a national reputation on taking advantage of global opportunities in the oil and gas, mining, alternative energy, agriculture, forestry and water industries. Rule writes a free, thrice-weekly e-letter, Sprott's Thoughts.

    Keith Schaefer is editor and publisher of the Oil & Gas Investments Bulletin, which finds, researches and profiles growing oil and gas companies that Schaefer buys himself, so Bulletin subscribers know he has his own money on the line. He identifies oil and gas companies that have high or potentially high growth rates and that are covered by several research analysts. He has a degree in journalism and has worked for several Canadian dailies but has spent over 15 years assisting public resource companies in raising exploration and expansion capital.

    Want to read more Energy Report interviews like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see recent interviews with industry analysts and commentators, visit our Streetwise Interviews page.

    DISCLOSURE:
    1) JT Long conducted this interview for Streetwise Reports LLC, publisher of The Gold Report, The Energy Report, The Life Sciences Report and The Mining Report, and provides services to Streetwise Reports as an employee. She owns, or her family owns, shares of the following companies mentioned in this interview: None.
    2) The following companies mentioned in the interview are sponsors of Streetwise Reports: None. Streetwise Reports does not accept stock in exchange for its services.
    3) Keith Schaefer: I own, or my family owns, shares of the following companies mentioned in this interview: NXT Energy Solutions and Chinook Energy Inc. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: None. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions.
    4) Rick Rule: I own, or my family owns, shares of the following companies mentioned in this interview: None. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: None. Sprott Funds owns shares of Devon Energy Corp. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions.
    5) Interviews are edited for clarity. Streetwise Reports does not make editorial comments or change experts' statements without their consent.
    6) The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.
    7) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.

    Streetwise - The Energy Report is Copyright © 2014 by Streetwise Reports LLC. All rights are reserved. Streetwise Reports LLC hereby grants an unrestricted license to use or disseminate this copyrighted material (i) only in whole (and always including this disclaimer), but (ii) never in part.

    Streetwise Reports LLC does not guarantee the accuracy or thoroughness of the information reported.

    Streetwise Reports LLC receives a fee from companies that are listed on the home page in the In This Issue section. Their sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.

    Participating companies provide the logos used in The Energy Report. These logos are trademarks and are the property of the individual companies.

    101 Second St., Suite 110
    Petaluma, CA 94952

    Tel.: (707) 981-8204
    Fax: (707) 981-8998
    Email: jluther@streetwisereports.com

    Jul 17 6:22 PM | Link | Comment!
  • Jeb Handwerger: Are You Ready For Doubles And Triples In Uranium Mining Stocks?

    Are you brave enough to buy straw hats in winter? From uranium to oil services to lithium, savvy investors can find innovative ways to make money based on fundamental supply and demand rather than emotion and fashion. In this interview with The Energy Report, Gold Stock Trades editor Jeb Handwerger outlines the trends that will shape the future of energy commodity investing, and names some of the best examples of shabby chic stocks worth more than their current price tags.

    The Energy Report: Jeb, in past interviews you have talked about the boost that the end of the Russian nuclear material purchase agreement would have on uranium prices. But lately, the price has dropped. What is causing the most recent decline?

    Jeb Handwerger: The end of the Russian highly-enriched uranium [HEU] agreement did, indeed, kick off a strong Q1/14 for uranium prices. Many juniors had phenomenal returns. Some doubled, some tripled during those months. But since March, we've hit new lows in the uranium price, and many of the gains made in the Q1/14 rally have been given back. Some prices have even hit below the 2013 lows.

    The uranium spot price has been in a seven-year downtrend. When you get to a bottom, you sometimes have false starts, and you bounce along. That's exactly what we're dealing with in 2014. Market sentiment is still extremely negative, but the smart, long-term investors who look at the supply/demand fundamentals over a three- to seven-year horizon have a different perspective than short-term traders looking for a quick turnaround profit. We think this is an excellent time for fundamental investors to get into the space. The longer the base, the more time investors have to acquire positions in the high-quality junior uranium miners that are literally trading for pennies.

    The real concern is Japan. Many expected Japan to restart nuclear reactors faster than it has. Even though Japan has released an energy plan with nuclear as a major cornerstone, it takes time for nuclear reactors to restart. That leaves Japan, its businesses and its citizens paying ridiculously high electricity costs for imported natural gas.

    TER: Have you seen any signs that Germany might restart production?

    JH: The key is the battle of wills going on in Eastern Europe right now. When German Chancellor Angela Merkel had a knee-jerk reaction after the Fukushima reactor disaster, deciding to rely on renewables rather than nuclear energy, what she really did was make the large German economy dependent on nuclear power from France and natural gas from Russia, through Ukraine. The result is skyrocketing electricity costs and increased political risk.

    Now we have had the wake-up call I have been warning about from Russia. President Vladimir Putin has Western Europe in a very vulnerable situation if he decides to turn off the taps. This may force a change in sentiment in Germany, which may want to rethink nuclear. It's becoming a real energy security crisis there.

    TER: In a past interview with The Mining Report, you said that China is on a commodity buying spree. Can China's nuclear construction pull the uranium sector up without Japan and Germany?

    JH: Over the long term, yes. Currently, China uses only a fraction of what the developed countries in Europe and the U.S. use. That's going to change over the next generation. The Chinese can no longer rely on dirty coal. Coal has created environmental havoc in major cities, where it is becoming difficult to breathe.

    Nuclear is going to be extremely important for the Chinese over the next generation. That is where the major growth is going to be. China National Nuclear Power Co. recently announced plans to raise up to 16.25 billion yuan [$2.6 billion] in an initial public offering to fund nuclear-power projects. That's significant news. It tells me the Chinese are willing to invest because they realize the critical nature of clean energy, of being able to provide enough energy without compromising air quality. Long-term contrarian uranium investors still see nuclear as the key clean baseload power source because renewables are not able to make that gap.

    A recent documentary called "Pandora's Promise" showed former anti-nuclear environmentalists speaking out for atomic energy because they have realized it is the only practical way to reduce fossil fuel consumption and, thus, carbon emissions. Remember, nuclear reactors today do not use the same technology as 20, 30 or 40 years ago. New nuclear will utilize small, modular reactors that are safer, more efficient and more adaptable than massive, expensive, meganuclear plants.

    TER: Is the U.S. getting serious about the need for domestic sources for the uranium to feed these modular reactors?

    JH: Yes. The U.S. is the largest consumer of nuclear power. It uses about 55 million pounds [55 Mlb] of uranium per year, but only about 4 Mlb are produced domestically. That has to change. It will change over the next generation, because we can't rely on the cheap, secondary supplies that Russia gave us for close to 20 years.

    Now that that cheap resource is not available, the U.S. will have to turn to domestic uranium producers, such as Cameco Corp. (NYSE:CCJ) [CCO:TSX], operating in the Powder River basin in Wyoming. For the first time in over 30 years, new nuclear reactors are being built in the U.S. Many of the older reactors will have to be replaced with newer reactors. There is going to be a need for new domestic uranium producers that can produce at a low cost.

    The companies outperforming in the uranium mining space that have not hit new lows have been the lower-cost producers, the in situ miners in the U.S., such as Ur-Energy Inc. (NYSEMKT:URG) [URE:TSX] . The explorers and the current higher-cost producers have been hit hard because the uranium spot has come back down.

    Many of the uranium producers selling into the spot price will be under price pressure. However, new producers with attractive long-term agreements have time. The short term looks ugly, but the long term looks exceptionally exciting. This appears to be the time for contrarian value investors to continue to accumulate. It's why we're seeing big money, such as Uranium Participation Corp. (OTCPK:URPTF) [U:TSX], raising $58 million [$58M] to buy spot uranium. When Uranium Participation Corp. and other investors in the uranium sector begin buying again, we could once again see uranium miner stock prices double and triple, even if the uranium spot price moves just a few dollars.

    TER: Rick Rule has called uranium the most hated commodity, and one of the best buying opportunities. What do you tell people who are looking for the courage to be contrarian when everyone else is running the other way?

    JH: Right now, being a uranium investor is extremely difficult. The spot price continues to hit lows. No one wants to touch it. There's an old saying that to be rich in the market you have to buy straw hats in the winter and winter coats in the summer. There's no doubt about it, the spot price has taken a nasty tumble. But this may be the shakeout that allows long-term value investors to accumulate uranium miners at exceptionally low prices. There is major capital on the sidelines. There is going to be a supply shortfall, and the uranium price is going to rally. But it takes patience and courage to look at a sector when no one else is willing to pay attention to it.

    What we saw earlier this year, when some uranium miners doubled and tripled, is just the beginning. There are going to be false starts as we come off the bottom and bounce along. This is where the timid give up. Every time the price bounces and drops back, investors lose hope and get discouraged. The real winners in this game are the investors who are able to withstand the volatility.

    We're just beginning to see base metals and commodities turning the corner from the financial crisis of 2008. The overall economy is just beginning to show signs of improvement. That's going to be good for energy and commodities. Sometimes, you have to look for the commodities that have been beaten down and are trading at decade lows, but are growing increasingly in demand. There is no doubt that uranium fits that bill.

    TER: One thing people do seem to be excited about is oil and gas, particularly fracking. We recently ran an interview with T. Boone Pickens where he talked about leveraging the oil and gas renaissance for profit and national security. What is your favorite way to get exposure to the shale plays?

    JH: Oil is beginning to break out. We saw it break out higher, above $105/ barrel [$105/bbl]. It may eventually make a major breakout past $110/bbl. Geopolitical tensions in Iraq could send oil prices skyrocketing. That's why we've seen this huge boom in shale in North America, including, most recently, in western Canada, where numerous liquefied natural gas [LNG] projects and pipelines are being planned.

    Big money is coming into the energy space, because these pipelines and terminals will be able to supply Asia with cheaper oil and gas. Asian countries currently pay quadruple what North Americans pay. These infrastructure projects, such as pipelines and LNG terminals, are just beginning to be built, and western Canada could be a key area of great growth.

    TER: Are oil services a less risky way to invest in the sector?

    JH: Yes, because these companies have contracts with some of the largest companies with long-term exploration plans. The opportunity really is in the infrastructure. One of the least risky ways to make money is providing the services to the explorers and the producers.

    TER: The other thing that investors seem to be excited about is the prospect of a gigafactory for battery development. What is the best way to get exposure to the battery market? Graphite? Lithium?

    JH: I have long been excited about the potential growth in the battery market for electric vehicles, grid storage and mobile electronics. Mobile phones, smartphones and laptop computers are a part of everyday life. The same is true with electric vehicles. Tesla Motors Inc. (NASDAQ:TSLA) is a huge market cap company with some very significant plans, including construction of the biggest lithium-ion [Li-ion] battery plant right here in the U.S.

    Demand in the Li-ion battery market is set to grow rapidly over the next seven years. This could be a game-changer for some North American lithium and graphite miners. Battery manufacturing could be a major area of economic growth for the U.S., especially the southwestern U.S., over the coming decades. This could have the same impact as the internal combustion engine, revolutionizing transportation. President Barack Obama is pushing to reduce carbon emissions. Tesla may be in the market for lithium and graphite deposits in North America that could supply its manufacturing plants. Most of current lithium supply either comes from Chile, Argentina or Australia. A North American lithium asset could be very profitable.

    TER: Any final words of wisdom for our readers?

    JH: There are still opportunities in the energy market. It's important to focus on the market cycles, and not follow what everyone else does. People think markets go up forever, but bear markets occur and, overnight, can wipe out investment gains that took months or even years to build. In the same way, bear markets can go down for a while but, all of a sudden, things could change. It is important to understand the cyclical nature of the commodity markets, and to be able to accumulate when no one else is buying and sell when people are willing to buy at ridiculous valuations. This is part of mastering your emotions. You have to continue looking at companies with strong fundamentals.

    This interview was conducted by JT Long of The Energy Report and can be read in its entirety here.

    Jeb Handwerger is an author, speaker and founder of Gold Stock Trades. He studied engineering and mathematics at University of Buffalo and earned a master's degree at Nova Southeastern University. After teaching technical analysis to professionals in South Florida for over seven years, Handwerger began a daily newsletter, which grew to include thousands of readers from over 40 nations.

    Want to read more Energy Report interviews like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see recent interviews with industry analysts and commentators, visit our Streetwise Interviews page.

    DISCLOSURE:
    1) JT Long conducted this interview for Streetwise Reports LLC, publisher of The Gold Report, The Energy Report, The Life Sciences Report and The Mining Report, and provides services to Streetwise Reports as an employee. She owns, or her family owns, shares of the following companies mentioned in this interview: None.
    2) The following companies mentioned in the interview are sponsors of Streetwise Reports: None. Streetwise Reports does not accept stock in exchange for its services.
    3) Jeb Handwerger: I own, or my family owns, shares of the following companies mentioned in this interview: Ur-Energy Inc. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    4) Interviews are edited for clarity. Streetwise Reports does not make editorial comments or change experts' statements without their consent.
    5) The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.
    6) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.

    Streetwise - The Energy Report is Copyright © 2014 by Streetwise Reports LLC. All rights are reserved. Streetwise Reports LLC hereby grants an unrestricted license to use or disseminate this copyrighted material (i) only in whole (and always including this disclaimer), but (ii) never in part.

    Streetwise Reports LLC does not guarantee the accuracy or thoroughness of the information reported.

    Streetwise Reports LLC receives a fee from companies that are listed on the home page in the In This Issue section. Their sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.

    Participating companies provide the logos used in The Energy Report. These logos are trademarks and are the property of the individual companies.

    101 Second St., Suite 110
    Petaluma, CA 94952

    Tel.: (707) 981-8204
    Fax: (707) 981-8998
    Email: jluther@streetwisereports.com

    Jul 10 6:47 PM | Link | Comment!
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