My pint was/is that DeBeers owned a share of the Joint Venture NOT of Kensington Resources.
As stated in the link you posted: " The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.245%), De Beers Canada Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried 10%). "
Shore Gold bought Kensington Diamonds. Kensington was NOT owned by Debeers, they had Debeers as their evil partner. Later, Shore Gold bought out Debeers by selling a partnership to Newmount Mining who they thought would be a better partner, but Newmont has not shown any interest in the project and stopped participating in the funding of any projects.
Shore Gold has been poorly managed for many years and I highly doubt that they will find a partner or the money to deveop the mine, if it is ever approved.
The long suffering shareholders will be bought out for pennies per share, or SGF will file BK or lose their claims, and a major will take over leaving the SH's with nothing !
I hope that I'm wrong, but I started buying Kensington way back in 1994 and this project has been clouded by smoke and mirrors for a very long time !
It's never bad to take a profit.
I wish I had done so in January with my largest investment;
I rose to a new 52 week high but then started falling and this week dropped to a new 52 week low, WAY below my cost average.
Like they say, pigs get slaughtered.
Sentiment: Strong Buy
The only reason I bought BYD is because Buffet bought 10% of the company several years ago, due to Munger's advise.
It went above $11 in October of 2009 and has dropped below $10 since March 29, 2010.
I bought my cheapest shares on 9-13-11 at $1.94.
I'm thinking of selling now because they just seem to have lost their focus as well as the expertise and edge in the technology that they had years ago.
I guess that China is better at stealing patents and technology than creating it themselves?
Good luck !
Not anymore. They have made too many mistakes that have cost them sales and market share. They also keep changing the direction of what their money making products will be.
First it was electric cars, then gas cars, then batteries, then electric storage modules, then electric buses, now they're talking about electric cars again and a battery partnership.
The problem is that now there are larger more successful car companies that are selling electric cars at prices that are competitive to the ones that BYD makes.
Volkswagon has been selling a lot of electric vehicles in China, and according to polls in China, they would rather buy the VW if the price is near the same.
Charlie Munger or Warren Buffet may have a different opinion.
China already promotes the sales of electric and hybrid cars, but I read an article yesterday that stated that increased sales of electric and hybrids by BYDDF may not make up the loss of revenues due to the continued drop in sales of their gas powered cars.
BYD also has to open more plants to ramp up production of the electric and hybrid cars, as they don't have enough capacity right now.
Sounds like they haven't been prepared or didn't recognize the coming increase in demand.
I would like to see more headlines about their energy storage modules that I read about at least a year ago.
Those modules can store solar and wind power or recharge from the grid at night to be used during daytime peak energy demands.
They are produced for companies to place outside of their buildings.
If BYD or other companies can build efficient modules energy storage modules that are not cost prohibitive for both companies and residential, I believe there will be increased future demand for them
Especially for people like me who intend to build a home that I don't want to connect to the power company grid.
Solar panels, wind turbines and electrical storage modules provides people and companies with their own reliable power production capabilities.
I thought that this cluster puck was supposed to be wrapped up by now!
I don't think that there will be any additional funds released for holders of MTLQU.
The freaking lawyers will get most of what isn't awarded to a few claims that they have been taking their time in settling.
GM common and warrants have also sunk pretty low the past few weeks.
Once interest rates start to go up, sales of new cars will probably start to slow.
One of the reasons why they had been selling so many cars was they were giving almost anyone car loans, no matter how bad their credit was and/or with no money down.
This will end up causing a bubble for cars like what started in 2007 with the bad loans for houses!
There will probably be a lot of repossessions and people abandoning cars they can't afford.
I hope to get a good deal on one of those repos or a lease return in 2015 or in 2016 !
I know more about housing and real estate than a trash posting short seller's hoar like you can fathom !
Maybe people are spooked about the next quarter due to the Fed cutting their loan purchases?
We shall see.
I own a ton of SPF and no other home builders, but I have never heard that Clown say anything about SPF.
He usually only covers the larger home builders, even though SPF builds in the wests where home sales are good and so are profits.
Last night on Mad Money he interviewed someone from a builder I have never heard about - TPH.
He touted how they build in the west.
I feel like calling Mad Money during the Lightening Round and telling him to look into SPF ! !
Sentiment: Strong Buy
I had planned on buying more shares, but was spending too much time trading CHK and HLF, two other Icahn plays.
TLM is already over $11 in pre-market so I'm not sure that I would buy today since Repsol is just "considering" TLM assets as well as assets in other stable countries.
Time will tell.
GLTA Longs !
The old GM
Because of the nature of General Motors (NYSE: GM ) , its reorganization was not an ordinary one, and it's still is subject of strong political words today. Politics aside, it's important to know that the General Motors we see today is not the same entity as the old GM.
Old GM became Motors Liquidation Company, or MLC, as part of the reorganization. But like the Lehman Brothers case, the GM reorganization is not something that was wrapped up in time for an afternoon picnic. MLC continues to handle issues relating to the old GM.
Although MLC common stock is virtually worthless, shares of the Motors Liquidation Company Unsecured Creditors Trust (NASDAQOTH: MTLQU ) continue to trade. As MLC was set up to manage the reorganization distributions and liquidate the old GM, these shares represent the unsecured creditors' distributions coming in the form of new GM common stock or warrants to purchase new GM common stock.
Like Lehman Brothers, Motors Liquidation Company continues to exist to serve the interests of the creditors of one of the largest reorganizations in corporate history.
MTLQU is slowly sinking too.
I almost sold at $26, now it's almost down to $25.
I have no idea what if anything is going on in the courts about wrapping up this cluster puck !