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  • What Is Happening With Penn West? [View article]
    As heard on Canada Business News Network this morning, the so-called "accounting scandal" in SA's headlines was a mis-classification of expenses as Operating Costs instead of Capital Costs (or something like that).

    It was disclosed by a newly appointed CFO who reviewed the books as part of his new job.

    So it seems that the CFO is a pretty honest and straightforward guy who is willing to "bite the bullet" to ensure the integrity of the company.

    But investors can't see beyond the headlines like the ones here at SA when they hit the sell button.

    IMHO undervalued and I just increased the size of my position to add a little more dividend lunch money to my income portfolio....
    Sep 18 01:20 PM | Likes Like |Link to Comment
  • What Is Happening With Penn West? [View article]
    As heard on Canada Business News Network this morning:

    The "accounting irregularities" relate to how some expenses were mis-classified as operating expenses instead of capital expenses.

    This matter was brought to light by a newly appointed CFO who reviewed the books - seems like the prudent thing to do when starting a new job - and disclosed his findings.

    That to me seems to indicate honesty and integrity on his part but seems to get lost in the headline news.

    The dividend is good and the company seems to be well run in a booming industry.

    Buy low.....
    Sep 18 01:15 PM | Likes Like |Link to Comment
  • Update: Penn West Petroleum Longs Vindicated On Earnings [View article]
    PWE is a solid legitimate company in a booming industry in a securities-exchange regulated country, not some boiler room operation. News of the accounting glitch and the consequent discount on stock price means a buying opportunity to me. Eventually they will sort things out, remedy the accounting procedure problems, and long shareholders will be rewarded. Time will tell. Buy low....
    Sep 18 10:42 AM | 7 Likes Like |Link to Comment
  • The Current Dip Makes BCE, Inc. Attractive For A Buy Rating [View article]
    As a shareholder of both BCE and BA, I chose the all share-exchange option - the present dividend makes for a very nice residual (hopefully someday retirement) income portfolio and yes, I would buy more BCE on a price dip. And no, I don't have a Bell mobile phone.....
    Sep 18 12:54 AM | 1 Like Like |Link to Comment
  • Update: Taseko Mines To Buy Curis Resources [View article]
    I believe both companies are ultimately managed by an entity known as the Hunter Dickinson group headquartered in Vancouver so they are not unrelated and they share some common insiders before the takeover.
    Sep 9 08:28 AM | Likes Like |Link to Comment
  • BMO and RBC most exposed to positive U.S. banking trends [View news story]
    you'll never go wrong buying tightly regulated canadian bank stocks....when skittish fund managers dump canadian bank stocks as they did during the 2012 EU debt crisis and the US debt ceiling crisis, BUY BUY BUY.....
    Jul 25 01:23 PM | 6 Likes Like |Link to Comment
  • Royal Bank Of Canada's Q2 Results Were Outstanding, Dividend Hike Coming Next Quarter [View article]
    OK we're living in investment "good times" right now. Gold down and bonds down, banks up, US FED PRINTING BILLIONS OF FIAT DOLLARS MONTHLY. But let's not lose sight of the historical and global perspective: RY sank to just $27 amidst the US-triggered 2007 financial crisis through no fault of their own (or Canada's for that matter), and it was down to $48 during the Euro PIIGS bond and US debt ceiling "crisis" in the fall of 2012. So yeah there is stock price volatility and hindsight is 20/20 but is it wise to buy now at all-time highs and questionable US "economic recovery"?
    Jul 23 05:48 PM | Likes Like |Link to Comment
  • Canadian banks seek to fill U.S. "vacuum" [View news story]
    IMHO those "seasoned" American bankers should only be hired to clean the toilets at Canadian banks....Canada does not need any of their banking management philosophies and culture where they collecteg millions in bonuses while bringing the United States Capitalism driven economy to it's knees and collectively causing US citizens an estimated 16 trillion in life-savings losses.
    Jul 23 05:27 PM | 2 Likes Like |Link to Comment
  • Warren Buffett's Father Was A Raging Gold Bug [View article]
    Warren might buy a farm but I'd like to see him break sweat and lose a few drops of blood actually farming it, if he even knows how.
    Jul 23 05:13 PM | Likes Like |Link to Comment
  • Gold (GLD +0.9%) continues its comeback tour, with a big move in the last 30 minutes pushing the metal into the green for the session and up to $1,344/ounce.  Technician Mark Newton calls this bounce the beginning of a longer-term bottoming process, and sees the metal back at $1,500 before October. The miners (GDX +2.5%) also continue a big move, inducing the blow-up of another triple-leveraged ETF, the DUST (DUST -7.2%), now off about 60% in less than a month. [View news story]
    Looks like "somebody" is selling their US equities market gains and plowing the profits into gold bullion. "Somebody" knows something....
    Jul 23 05:03 PM | 1 Like Like |Link to Comment
  • Asanko Gold: Highly Undervalued With Limited Downside [View article]
    I have visited their Esaase site twice personally in 2008 and "kicked the orange dirt" and have held chunks of their surface quartz veins with visible flecks of visible gold in my hand. Yes very cool! At the time the local villagers were doing placer mining by sifting through the mud and gravel showing how easy and abundant the gold is at that site. Gold prices are currently depressed below production costs because of the massive amount of that "paper gold" in existence being dumped by investors in favor of US QE fiat money. But eventually market equilibrium between mine supply and global physical demand will reach equilibrium again, even if a few mines have to shut down production for a while. And if anyone thinks the western governments of US/EU/JP/etc. have solved their monetary, fiscal, and demographic liability problems, not to mention that arguably corrupt USA banking system that got bailed out and are back at their shenanigans, think again....
    Jul 2 04:12 PM | 1 Like Like |Link to Comment
  • Gold And Silver Outlook: Will Precious Metals Recover? [View article]
    Fiat currencies, fractional reserve banking, endless easing programs, fiscal deficits.....what are these analysts smoking anyways? Whatever it is, it must be good because they sure aren't facing the reality that Western Economics is unsustainable in current policies. The only store of wealth that has proven it's worth over the millenia around the around has been gold. If the only solution to fiscal problems is monetary policy problems, that's just "throwing gasoline on to the fire to try to put it out." It's just nuts.
    Jun 7 02:46 AM | Likes Like |Link to Comment
  • The bounce in precious metals continues, gold (GLD) +1.6% and silver (SLV) +2.1% as buyers of the physical apparently used the rout to load up and - if anything - global central banks are leaning towards even easier monetary policy. A survey shows low bond yields are no longer doing it for central bankers and they're now looking at loading their balance sheets with equities. [View news story]
    Here in Vancouver, Canada, gold and silver one ounce physical bullion product has been completely sold out for the past week. Somewhere between retail demand and large account buyers, there isn't enough gold and silver to go around.
    As it was in the 80s and 90s, the physical bullion is being sold at marginally above the cost of production right now.
    Apr 25 09:42 AM | 2 Likes Like |Link to Comment
  • Goldman closes its gold short, the metal's move back above $1,400 triggering a stop. Still bearish though: "Our bias is to expect further declines in gold prices on the combination of continued ETF outflows ... as well as our economists' forecasts for a re-acceleration in U.S. growth later this year." GLD -0.3% premarket. [View news story]
    It is pretty clear from recent gold price fluctuations that the price has hit support due to supply side destruction at the cost of production of an ounce of refined gold at around US$1400

    If the price were to drop lower, the refiners would terminate supply so we now have market price/quaitity equilibrium.

    This is similar to the situation back in the 90's when central banks like the Bank of England were selling off their physical holdings and the price hit bottom around US$250 per ounce, except now they market movers are dumping digital gold.

    "News" of US economy "re-acceleartion" without significant job creation and in the face of endless Quantitiative Easing is just dishonest disingenius reporting.

    As the cost of gold production rises, it can be seen how gold bullion holdings are a hedge against inflation.
    Apr 23 09:12 AM | 5 Likes Like |Link to Comment
  • As analysts debate where gold prices are headed, what's the metal worth as an investment? A Credit Suisse study says 1% a year since 1900 - a bit higher than Treasury bills, lower than Treasury bonds; stocks have averaged 5.4% during the period. To make matters worse, gold’s volatility is 2.5x that of bills, two percentage points higher than bonds and about two-thirds of stocks. [View news story]
    The nominal cost to mine and refine an ounce of gold, in some cases involving mining, crushing, cyanide leaching and refining up to 30 TONS of ore to produce a shiny yellow 9999 gold ounce, costs about 700 fiat US dollars. This sets a reasonably lower limit, below which the producers would shut down thereby curtailing supply creating an equilibrium as it was bak in the 90s when central banks were dumping their gold stocks. Today the sophisticated western capitalist systems, in their mad quest screw each other out of their goods and services, have resorted to using a fiat currency and fractional reserve banking system which, coupled with paper derivatives, seriously puts invidual's fiat currency demoniated life savings at serious risk. In the current circumstance, it is obvious that lots of private citizens around the globe, from Chinese to Indians to "westerners", still instinctively believe in the intrinsic tradeability of gold for goods and services essential to living, and are willing to line up to trade 1400 US fiat dollars for it while the Western Capitalist jerks ditch their certificate gold thereby depressing the dollar value. So who's smarter ?????
    Apr 18 06:59 PM | 6 Likes Like |Link to Comment