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Endeavour Silver Corp. Message Board

jj719903 13 posts  |  Last Activity: Apr 23, 2016 11:54 AM Member since: Jan 30, 2004
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  • Could it be either or both...

    Greg Hunter: around the 19:30 mark " I am told that renowned gold expert Jim Sinclair is preparing a lawsuit against the big banks that suppressed the gold. Other lawsuits have been filed or are on the way. usawatchdog weekly-news-wrap-up-4-22-16

    Jim Sinclair is preparing a suit against the banks for the benefit of TRX shareholders? Between Greg Hunter's weekly market wrap and the interview on the 17th starting @ 12:20 mark, Sinclair's old saying: he doesn't play for peanuts comes to mind.

  • Reply to

    Why is management selling their stock?

    by nashfan1 Mar 22, 2016 6:23 AM
    jj719903 jj719903 Mar 23, 2016 11:00 PM Flag

    Most transactions were grant of rights. They got rid of the ones at 1.27 and acquired the ones at 0.99.

    Closing date 2016-03-17
    Date of transaction 2016-03-16
    Issuer Name Pengrowth Energy Corporation
    Stock Symbol PGF
    Insider Name Bowles, Douglas Currie
    Insider's Relationship to Issuer 5 - Senior Officer of Issuer
    Nature of transaction 57 - Exercise of rights
    Number or value acquired or disposed of -35,900
    Unit price or exercise price
    Balance of securities held as of transaction date 69,680
    Conversion or exercise price 1.2708
    Underlying security designation Common Shares
    Equivalent number of underlying securities acquired or disposed of -35,900
    Closing balance of equivalent number or value of underlying securities 69,680
    ------------------------------------------------------------------------------------------------
    Closing date 2016-03-17
    Date of transaction 2016-03-17
    Issuer Name Pengrowth Energy Corporation
    Stock Symbol PGF
    Insider Name Bowles, Douglas Currie
    Insider's Relationship to Issuer 5 - Senior Officer of Issuer
    Nature of transaction 56 - Grant of rights
    Number or value acquired or disposed of +154,803
    Unit price or exercise price 0.9932
    Balance of securities held as of transaction date 191,845
    Conversion or exercise price
    Underlying security designation Common Shares
    Equivalent number of underlying securities acquired or disposed of +154,803
    Closing balance of equivalent number or value of underlying securities 191,845

    Pengrowth Energy Corporation $PGF just filed 56 reports. View full report: SEDI:PGF from #insiders, 18 Mar 2016, 00:22

  • Reply to

    Why is management selling their stock?

    by nashfan1 Mar 22, 2016 6:23 AM
    jj719903 jj719903 Mar 23, 2016 12:00 PM Flag

    SEDI reports for PGF, filed on 17/03/2016

    Closing date 2016-03-17
    Date of transaction 2016-03-17
    Issuer Name Pengrowth Energy Corporation
    Stock Symbol PGF
    Insider Name Webster, Christopher Geoffrey
    Insider's Relationship to Issuer 5 - Senior Officer of Issuer
    Nature of transaction 56 - Grant of rights
    Number or value acquired or disposed of +453,081
    Unit price or exercise price 0.9932
    Balance of securities held as of transaction date 559,211
    Conversion or exercise price
    Underlying security designation Common Shares
    Equivalent number of underlying securities acquired or disposed of +453,081
    Closing balance of equivalent number or value of underlying securities 559,211
    -----------------------------------------------------------------------------------------------------

    Closing date 2016-03-17
    Date of transaction 2016-03-17
    Issuer Name Pengrowth Energy Corporation
    Stock Symbol PGF
    Insider Name Stewart, Donald Michael Godfrey
    Insider's Relationship to Issuer 4 - Director of Issuer
    Nature of transaction 56 - Grant of rights
    Number or value acquired or disposed of +100,685
    Unit price or exercise price 0.9932
    Balance of securities held as of transaction date 188,797
    Conversion or exercise price
    Underlying security designation Common Shares
    Equivalent number of underlying securities acquired or disposed of +100,685
    Closing balance of equivalent number or value of underlying securities 188,797
    ------------------------------------------------------------------------------------------------

    Closing date 2016-03-17
    Date of transaction 2016-03-16
    Issuer Name Pengrowth Energy Corporation
    Stock Symbol PGF
    Insider Name Steele, Randall Scott
    Insider's Relationship to Issuer 5 - Senior Officer of Issuer
    Nature of transaction 57 - Exercise of rights
    Number or value acquired or disposed of +76,734
    Unit price or exercise price 1.2708
    Balance of securities held as of transaction date 171,132

  • jj719903 jj719903 Mar 23, 2016 10:41 AM Flag

    Seymour Schulich acquires 14.7% of Pengrowth Energy Corporation
    Canada NewsWire

    TORONTO, March 23, 2016

    TORONTO, March 23, 2016 /CNW/ - Seymour Schulich, through his holding company, Nevada Capital Corporation Ltd. 20 Eglinton Avenue West, Suite1900, Toronto, Ontario, M4R 1K8, announced today that, on March 18, 2016, he acquired, through open market purchases, 26,000,000 common shares and now owns 70,000,000 common shares of Pengrowth Energy Corporation (TSX:PGF). The Schulich Foundation, an affiliate of Mr. Schulich, owns an additional 10,000,000 shares. In total, 80,000,000 shares are owned or controlled by Seymour Schulich.

    Mr. Schulich's current shareholdings represent 14.7% of the current issued and outstanding common shares of Pengrowth. Mr. Schulich further advises that the shares have been acquired for investment purposes at this time.

  • On Friday we elected the Weekly Bullish Reversal at 38.40. Crude pulled back for two days marginally to try to retest the previous reversal at 32.40. We have now gapped up and the major Weekly Bullish Reversals stand up at the $45 level. We warned that the first quarter would try the souls of most traders. March and May have been key targets in time, and April has been a panic cycle in many markets as well. Here the low is in February, not last December. If we, at least, close March above the February high of 34.69, then we have a shot of more than a one-month knee-jerk reaction high. Then we can look for a possible three-month rally into May. The two primary targets are at the $45 and $49 level. That has to be exceeded to hope for a rally to reach the formidable resistance zone in the $69-$70 area.

  • Last week, during the peak of the commodity short squeeze, we pointed out how this default cycle is shaping up to be vastly different from previous one: recovery rates for both secured and unsecured debts are at record low levels. More importantly, we noted how this notable variance is impacting lender behavior, explaining that banks - aware that the next leg lower in commodities is imminent - are not only forcing the squeeze in the most trashed stocks (by pulling borrow) but are doing everything in their power to "assist" energy companies to sell equity, and "persuade management" to use the proceeds to take out as much of the banks' balance sheet exposure as possible, so that when the default tsunami finally arrives, banks will be far, far, away from the carnage.

    All of this was predicated on prior lender conversations with the Dallas Fed and the OCC, discussions which the Dallas Fed vocally denied and accused us of lying, yet which the WSJ confirmed, showing that it was the Dallas Fed who was lying.

    This was our punchline:

    [Record low] recovery rate explain what we discussed earlier, namely the desire of banks to force an equity short squeeze in energy stocks, so these distressed names are able to issue equity with which to repay secured loans to banks who are scrambling to get out of the capital structure of distressed E&P names. Or as MatlinPatterson's Michael Lipsky put it: "we always assume that secured lenders would roll into the bankruptcy become the DIP lenders, emerge from bankruptcy as the new secured debt of the company. But they don't want to be there, so you are buying the debt behind them and you could find yourself in a situation where you could lose 100% of your money."

    And so, one by one the pieces of the puzzle fall into place: banks, well aware that they are facing paltry recoveries in bankruptcy on their secured exposure (and unsecured creditors looking at 10 cents on the dollar), have engineered an oil short squeeze via oil ETFs...Con't..

  • jj719903 jj719903 Mar 3, 2016 3:31 PM Flag

    Conclusion...

    What are our options now?

    1. We negotiate successfully in the 30 day period with Stamico, the government of Tanzanian who guarantee our freedom to operate and protection against all interference of our contract rights. This then opens the traditional financing door.

    2. We proceed to London Binding Arbitration with financial demands equal to our invested funds in Tanzania, lost opportunity and damage to the value of our shares.

    3. We seek a sale of all our Tanzanian assets to a major mining company in Tanzania with commitment of size. The structuring of the transaction would be for shares, not cash in this what we believe will soon to be major gold bull market.

  • TORONTO, ONTARIO--(Marketwired March 3, 2016) - Tanzanian Royalty Exploration Corporation (TSX:TNX)(NYSE MKT:TRX) (the "Company") is providing the following progress report with respect to the recent force majeure notice it issued to Stamico.

    Force Majeure describes a clause in a contract whereby circumstances arise producing a situation known as "Force Greater" than one party has the ability to correct in the normal course of business. Currently, the situation at hand is our business relationship with our joint venture partner, the State Mining Company of Tanzania, which is owned by the Treasury of Tanzania. The trigger for Force Majeure was a significant increase in the number of illegal miners that entered our property. We maintain that there is a direct connection between the increase in the illegal occupation of property under our license and a speech made in the village by the Deputy Minister for Mining. It is our opinion that the Deputy Minister speaks for the Minister who in turn speaks for the government. As such we take seriously such statements made as a statement representing the leadership of Tanzania.

    The Deputy Minister made statements and gave hard dates for us to abide by his orders, generally 14 days. He presented the repercussions of non-compliance that were draconian. None of his orders are stipulated by the contract we have with Stamico. One of his orders was to fix a public road that was being torn up by the rainy season, not our use.

    Part of that Deputy Minister's representation focused on the surrender of mining rights on some of our properties to the artisan miners. Inherently, we do not have a problem with selecting an area for artisanal mining as we have selected three parcels where there is surface enrichment mineable by artisan tools. There are various restrictions that we need identified to ensure that only non-mechanized miners can occupy these properties.

    We have certain reasonable questions such as:

  • Reply to

    Crude Oil - Month End - February 2016 - Armstrong

    by jj719903 Feb 29, 2016 3:20 PM
    jj719903 jj719903 Feb 29, 2016 11:05 PM Flag

    trader...Martin Armstrong developed the Economic Confidence Model. He knows all about trading & TA. He became a millionaire at age 15. The Armstrong Economics blog is quite the educational tool.

  • We have interestingly reached an 86-year peak in oil reserves. This may actually be the end of that trend. Oil prices are causing companies to collapse, and in the Middle East various states have been forced to borrow money and raise taxes. We closed last month at $33.62 and held the Monthly Bearish at $33.55. We are once again flirting with that number closing Friday at $32.78. The low for the month was the week of February 8. Our Weekly Bullish stands at $38.40. Our next key turning point will be April. A daily closing above $33.60 on Monday will be a warning that we may yet see a rally to everyone’s shock and dismay. This would be more geopolitical rather than supply/demand.

  • Reply to

    An Update On Force Majeure Declared Last Week

    by jj719903 Feb 14, 2016 10:18 AM
    jj719903 jj719903 Feb 14, 2016 12:16 PM Flag

    They are a modern form of the historical claim jumper willing to pay anyone corrupt inside or outside of the company if it helps them get what they want. We believe Buckreef represents billions, even at today's prices.

    People seem to think incorrectly that Force Majeure is something the government did to us, but it is something we declared against the government of Tanzania which we will arbitrate in London as per our contract provisions. Force Majeure gets a government's attention as it hits directly into the claim of welcome to investors and offers protection to non-Tanzanians conducting business in the country. Force Majeure freezes all company obligations payable until the issues are resolved and protects all licenses and permits as property in this case of TRX, the parent. I had absolutely no other option but to use the most powerful defense weapon in international mining as a tool provided in our contract. The alternative would have been to simply surrender, which would be the beginning of a very quick end. I had to go nuclear in the mining industry terms instantaneously.

    London arbitration is fair and our claims of no funds due to Stamico are solid. Stamico stands for the State Mining Company run by the Tanzanian government. These proceedings are governed by international law, not local law.

    We issued a detailed release on this subject and two additional items earlier this week.

    Stockholders looking at the market ran to the internet chat sites where information is always somewhat dicey and position profit motivated.

    In the best interest of protecting the company assets, a week ago I pushed the "Force Majeure pause button" protected by contract based on international, not Tanzanian, law and opted for binding arbitration in London while taking my staff temporarily out of harm's way. Stamico themselves publicly announced the imposition of Force Majeure with rather cordial words.

  • Dear Friends,

    With the arrival of Tanzania's new administration, the ministerial staff were sent to mining companies, especially those owned by non-Tanzanian companies. They made demands that were not bound by law or contract, threatening us all. The Deputy Minister of Mining gave a speech to the local village and illegal miners saying that he had given us 14 days to hand over land to them to be mined, which we had already done when we offered them their choice of 3 parcels, one of which they were already on. On the 15th day, two hundred people came over the fence demanding more property. If we took no action and let 200 remain, there would be, as happened at Bulyanhulu, 20,000 more coming.

    With the new government treating us all rudely via the Deputy Minister inciting riots by his pubic pronouncement, I had no viable option but to instantly declare Force Majeure against the government. In Sub Sahara Africa if you are hit you have no choice but to get up and hit back. If you don't you are finished. You must fight instantly or you will be picked on until you give up whatever you have. I am not sure it is too different here, just more refined.

    The rule in Africa is you have to put the illegal miners off your property the first day they arrive. If you don't, 1 turns into 5, 5 turns into 20, and then that 20 becomes 20,000 and you are cooked. When the invasion grew to 200, I had to take an instant, loud, public and serious action. The interlopers were escorted out.

    We do not owe Stamico one cent as that was triggered by actions on their government's part that can only be understood in terms of the movie "Lord of the Flies."

    We are still not able to exercise our full mining license on the Kigosi property due to the whim of a single Minister. We had refused to pay cash to his representative late in the last administration in order to get access.

    To add to this, a Chinese national mining company lusts for Buckreef.

  • Hedges that shielded Canadian oil producers such as Crescent Point Energy (NYSE:CPG) and Whitecap Resources (OTC:SPGYF) from the full pain of $30/bbl oil are winding down this year and next, which may prompt companies to accelerate output and cost cuts, including dividends.

    CIBC says 19 small-to-mid-sized producers have an average of 19% of their crude hedged at ~$58/bbl this year, and only 3% at about the same price in 2017.

    CPG tells Bloomberg it is “well protected” with hedges in 2016 and with costs cut by 30% last year, and the “longer we stay in $30-$35 environment, the more this cost structure will come down.”

    Selling oil at a lower price may prompt CPG to cut its dividend, FirstEnergy Capital's Cody Kwong says, which he thinks would be received by the market as "a positive note."

    Northern Blizzard Resources (OTC:NBZZF) and Pengrowth Energy (NYSE:PGH) are the two most-hedged producers this year among the companies covered by CIBC data; for PGH, the hedges are “a big, big lifeline,” says Veritas analyst Nima Billou. “They will definitely be able to ride out 2016 because of these hedges.”

    The industry as whole may have a harder time: “Those hedges come off in 2017, and with oil prices continuing to fall, they could be in a difficult positions,” says a National Bank Financial analyst.

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