Permian Basin Royalty Trust Message Board

From Sandler, O'Niell and Partners, June 6th:

"....State Court of Appeals decision allows New York City to proceed with
medallion auction. The New York State Court of Appeals has ruled in favor of
New York City to allow the HAIL Act to proceed. Among other things, the HAIL
Act provisions for the city to auction off 2,000 new taxicab medallions. These
medallions are restricted to handicap accessible vehicles. With an estimated
market price today of about $800,000 per medallion, this equates to over $1.5
billion of new medallions to lend upon.

The windfall that TAXI has been waiting for. The medallion auction is a
positive event for TAXI, mainly because 2,000 new medallions could easily turn
into $200 million plus of new loans for the company, its bread and butter product,
over a 2-3 year period. This assumes that the company maintains market share
and represents 30% medallion loan growth, not including regular loan growth,
over the next three years. Also, historically the price of medallions has risen on
every medallion sale in NYC history. The reason for this is that fleets need to
increase their medallions in order to recognize synergies; there could be up to
5 bids per medallion auctioned off. The auction process will likely take place
over a three year period as to not flood the market with new medallions, and
could begin as soon as 4Q13. Depending on the timing and the success that the
company has during the first year of auctions, it is possible that the company
could want some additional capital to be able to fully take advantage.

E-hail apps officially legal in NYC. Separately, this morning the temporary
restraining order against e-hail apps in NYC was lifted (which allow somebody
to hail a taxi from their smart phone). Although not quantifiable at this time, the
ability to hail a taxi on your phone is an incremental positive for the industry and
thus an incremental positive for TAXI....."

RATING: BUY
12-Month Price Target: $16.00

Expect another SPO....

Sentiment: Strong Buy

Agreed - sell at the low Ha!
I'm adding all the dry powder I can....

Sentiment: Strong Buy

7 cents....

Good news at last....now all we need is divi maintained

Sentiment: Strong Buy

what just happened?

Sentiment: Strong Buy

If I had more dry powder I'd be buying right here.....guess I'll just have to rake in the divi's while watching the ppps recover....win-win!

Sentiment: Strong Buy

Good enough for me.....the man is sui generis....

Sentiment: Strong Buy

When I go to JMI message board it is greyed out - not working.....maybe that's why this is the only place to post a comment...

Maybe someone knows different? (-4.75%)2:45 PM EDT

Thanks for the heads-up on the 7/18 date of note Thomas....good info.

Sentiment: Buy

Yes, the big boys always know ahead of time. I've just been in and out since Mar 2011 waiting for this huge potential to start but unfortunately its just been a series of lower highs and lower lows. There was nice 40% rise at the end of 2011 into 2012 which I caught after Mark Fisher made it his #1 pick for 2012. But other than that its been stop and start on the pps. Will we see the $16.51 lows before we see new highs again I wonder?

I agree with some of that Scott - CCJ also talked about the recovery of the spot price of Uranium. That still hasn't happened even though we're only six months from the end of the Russian agreement:
U3O8 Price (lb) $42.50 [-1.00] 10/29
U3O8 Price (lb) $42.00 [-0.50] 11/26
U3O8 Price (lb) $43.50 [+1.50] 12/31
U3O8 Price (lb) $44.00 [+0.50] 1/28
U3O8 Price (lb) $42.00 [-1.00] 2/28
U3O8 Price (lb) $42.25 [+0.25] 3/04
U3O8 Price (lb) $42.25 [Unch.] 3/11
U3O8 Price (lb) $42.25 [Unch.] 3/18
U3O8 Price (lb) $42.25 [Unch.] 3/25
U3O8 Price (lb) $42.25 [Unch.] 4/08
U3O8 Price (lb) $40.75 [-1.50] 4/15
U3O8 Price (lb) $40.25 [-0.50] 4/22

While UR prices continue to drop it seems there's only small rises and drops in pps of CCJ. I believe in the long-term prospects for nuclear but until we see an uptick in UR in the short-term they seem to be range-bound. imo

I experienced the same thing last year with IMGN....stock was at $18, they did an offering at $16 so I bought in - then the pps slid down to 12.56 and later below $11.00..... Took me nine months before I was able to sell with a small profit - dead money the whole time. Tough experience.

Thanks for the heads up on EFC Reik....I like the chart and fundamentals - the only question in my mind is the special dividend they paid in February....is that expected to impact future divis? CYS did the same in December, lowered the dividend in March and is only now just starting to show PPS recovery. That's my only concern. Thanks.