I'm fine with no capital gains here and think a dividend cut is already priced into the stock.
Some insider buying earlier this year is encouraging.
Jun 11, 2014 FORE RICHARD Director
17,000 Direct Purchase at $5.84 per share. 99,280
Jun 6, 2014 BLOOM DAVID E Officer
8,500 Direct Purchase at $5.86 per share. 49,810
May 19, 2014 LEVIN MURRAY S Director
4,500 Direct Purchase at $5.40 per share. 24,300
May 19, 2014 KESSLER STEVEN J Director
9,158 Direct Purchase at $5.41 per share. 49,544
May 19, 2014 COHEN JONATHAN Z Officer
40,000 Direct Purchase at $5.41 per share. 216,400
10-Q for June quarter shows cash and cash equivalents of nearly $317 mill.
Current liabilities are just $155.5 mill. Relax.
Wonder if CDE could authorize a share repurchase. Maybe a cheaper way of owning silver instead of mining for it.
Yup, Europe is a mess, and the trade war with Russia won't help the economy of either country. Slowdown in China is not helping either, especially with silver, which has a much higher industrial demand component than gold.
At some point, all these countries with their QE programs are going to destroy the values of their currencies IMO. I think we can take some solace from the fact that Russia and China are both buying gold, which accounts for about 48% of CDE's revenue.
I bought a little more along with some call options with an $8 strike price that expire in Jan 2016.
CDE could still get hit with tax-loss selling, and forced margin call selling may also be going on.
I wonder if CDE is a buyout candidate at this price.
How can there be 2 shares sold for every share bought? Now that's ridiculous.
A transaction doesn't take place unless there is a buyer for each share and a seller for each share.
jbcguy • Aug 8, 2014 Numbers
SWN just bought another 74,000 acres in the Sand Wash Basin for $31 mill. That comes to $418+ per acre.
If Entek's 59,000 acres is worth a like amount, that comes to $24.7 mill, or 4.8 cents per share of Entek stock. Entek's cash position of $8.4 mill (no debt) comes to 1.6 cents per share.
Do the math.
trollen32 • Aug 10, 2014
.jbc, And then there is the off shore Gulf blocks
I'm in your camp.
If Entek would start doing on better job on investor relations, its stock would not be so cheap. Management needs a wake-up call, because they are inept in this area--the proof is in the pudding; just look at the stock price. Pathetic.
Very few US investors have ever heard of Entek, and the blame rests squarely on Entek management. Do they not understand that there are far more oil and gas investors in the US than in all of Australia? With far more capital to invest and willing to take some risk?
Here Entek has put together a terrific play and is getting carried for 20% at Battle Mtn. Company has no debt and over $7 mill in cash with Focus Ranch yet to farm out. SWN just paid $418 per acre south of Focus Ranch, and bought a LOT of acreage.
I doubt that East would buy Entek, but maybe. East does have a lot of capital, but do they want to buy Entek as a way of going public? I wouldn't--being public is an expensive pain in the butt.
SWN (Southwestern Energy) is clearly the company that should buy Entek. It's a perfect fit.
In addition to tax-loss selling, margin calls may be forcing some selling.
CDE looks way too cheap down here.
Not so at all!
There are over 1300 completed wells that are shut in, awaiting new pipeline capacity in the Utica and the Marcellus alone. When that 2 Bcf/d of new pipeline capacity goes into service, it will mean an extra 2 Bcf/d of additional supply.
It is flat out bearish for gas prices. Period.
UNG is a gas fund that owns just the front month contract.
If you key in the symbol UNG, you'll see an article about the seasonality of gas prices. It says they tend to be strong in q4. With so much new pipeline capacity expected to go into service in Nov/Dec this year ( 2 bcf/d), I'm skeptical that any rally in gas prices will get very far.
Hope I am wrong.