Buffett and Bank of America: A Waiting Game - GuruFocus.com

Buffett and Bank of America: A Waiting GameGuruFocus.comIf Bank of America’s common stock dividend exceeds 44 cents, this will be the case. But Buffett is prepared to wait and while executing the warrants will make Bank of America one of Berkshire’s largest positions, it seems Buffett is not overly keen to …Here’s What Warren Buffett Just Said About Bank of AmericaMotley FoolWarren Buffett Has a Paper Gain of $13.5 Billion From His Bank of America BetFortuneBuffett mulls change to canny Bank of America stake if dividend risesReutersMarketWatch -Forbes -Yahoo Finance -Berkshire Hathawayall 821 news articles …read more … Continue reading

Stone Energy Corporation Announces Successful Completion of Financial Restructuring and Emergence from ... - BOE Report (press release)

Stone Energy Corporation Announces Successful Completion of Financial Restructuring and Emergence from …BOE Report (press release)Additionally, the pre-petition stockholders are receiving Warrants to purchase 3,529,412 New Common Shares, or approximately 3.529412 Warrants for each 1 New Common Share. This equates to 0.622009 Warrants for each 1 Existing Share (each based … and more …read more … Continue reading

President Trump: Replace The Dollar With Gold As The Global Currency To Make America Great Again

Ralph Benko , CONTRIBUTOR President Donald Trump speaks at the Conservative Political Action Conference, Friday, Feb. 24, 2017, in Oxon Hill, Md. (AP Photo/Alex Brandon) Inside President Trump’s otherwise “standard Trump stump speech” at CPAC was nestled what might be a most intriguing observation: Global cooperation, dealing with other countries, getting along with other countries is good, it’s very important. But there is no such thing as a global anthem, a global currency or a global flag. This is the United States of America that I’m representing. There’s a keen insight in there that could, just maybe, transform our lives, America, and the world. No “global currency?”  Was this, with the poetic observation that “there is no such thing as a global anthem…or a global flag,” just a trope? Or could it contain a political portent with potential high impact on world financial markets?  Let’s drill down. As it happens, there is a global currency. It’s called the “U.S. dollar.” Most international trade is priced in dollars. The Bretton Woods international monetary system invested the dollar, which then was defined as and (internationally) was legally convertible to gold at $35/oz, with global currency status.  France’s then-finance minister, later its president, Valéry  Giscard d’Estaing, called the “reserve currency” status of the dollar — its status, along with gold, as global currency — an “exorbitant privilege.” By this d’Estaing was alluding to the fact, as summarized at Wikipedia, that “As American economist Barry Eichengreen summarized: ‘It costs only a few cents for the … Continue reading

Millennium Minerals, an Accident Waiting to Happen

Bob Moriarty of 321 Gold dissects Millennium Minerals’ latest moves in Australia. I wrote a piece about Novo Resources recently and mentioned Millennium Minerals Ltd. (MOY-ASX), an Australian company that has a mill nearby to Beaton Creek. I made a comment in the piece that Millennium was running out of ore and it might make sense for them to do some kind of deal with Novo; either toll milling or a purchase of Beaton’s Creek. One of their shareholders wrote me a rather snotty email informing me that Millennium was doing just great and adding high-grade ounces like crazy. Well, actually their share price has been doing just great but they do have a giant problem with future feed. Their latest press release about drilling and news reserves concealed a lot more than it revealed. I went back and looked at a report that came out just over a year ago. The company was on the verge of collapse. Their shares had been as low as $0.023 in August of 2015 before climbing to $0.034 at the time of the report. This was a company with a mill that cost about $100 million to build four years ago claiming over a 1 million ounce resource and only a market cap of $26 million Aussie. The company did well, climbing to a high of $0.415 on the back of the increased price in gold and more interest in Australian gold producers. After a major management change in 2015, someone obviously put … Continue reading

Three Outstanding Opportunities in the Natural Resources Sector

Aside from the exuberance surrounding the tops of bull markets, the general investment public is uninterested and underinvested in natural resource equities, says Matt Geiger, founder of MJG Capital Limited Partners. Geiger views the general apathy toward natural resources as an opportunity, and profiles three companies that he believes are in position to break away from the herd. For those underweight natural resources, it is not too late to adjust one’s portfolio—here is still plenty of money to be made in this current bull cycle. We are seeing signs that the next eight years will be starkly different from what we’ve seen over the past eight, which were the rising U.S. dollar, low interest rates, currency devaluations in the Western world, rising stock markets, falling commodity prices, low inflation, etc. Times are changing, and it would be prudent to shift exposure from the S&P 500 to natural resource equities. The companies profiled below are on my radar as outstanding opportunities. Viscount Mining Corp. (VML:TSX.V) is a prospect generator building a portfolio of high-quality precious metal properties within the United States. Viscount’s two core projects are Cherry Creek (East Central Nevada) and Silver Cliff (South Central Colorado). With a current Enterprise Value of ~CA$22M, Viscount’s shares are a prudent (though not riskless) speculative bet on two highly prospective precious metal projects. Each of these projects has the potential to generate CA$100-250M in value for Viscount shareholders, but results must be delivered on both fronts over the upcoming 12 months. In June … Continue reading

Ideal Power (IPWR) Reports $15M Private Placement of Common Stock and Warrants - StreetInsider.com

Ideal Power (IPWR) Reports $15M Private Placement of Common Stock and WarrantsStreetInsider.comEach share of common stock or preferred stock, together with a warrant to purchase one share of common stock, is being sold at a per share price of $2.535. The warrants will have an exercise price of $2.41 per share, are non-exercisable for the first … and more …read more … Continue reading

Ideal Power (IPWR) Reports $15M Private Placement of Common Stock and Warrants - StreetInsider.com

Ideal Power (IPWR) Reports $15M Private Placement of Common Stock and WarrantsStreetInsider.comEach share of common stock or preferred stock, together with a warrant to purchase one share of common stock, is being sold at a per share price of $2.535. The warrants will have an exercise price of $2.41 per share, are non-exercisable for the first … and more …read more … Continue reading

Centennial Resource Development Announces its Intention to ... - Yahoo Finance

Centennial Resource Development Announces its Intention to …Yahoo FinanceDENVER, Feb. 27, 2017– Centennial Resource Development, Inc. together with its affiliates, announced today that it intends to deliver a notice on March 1, …Centennial Resource Development Announces its Intention to Deliver Notice of Redemption of WarrantsIT Business Net all 4 news articles …read more … Continue reading

Pretium Resources Adds Capital to Brucejack's Accelerated Operations Schedule

Pretium Resources is ramping up Brucejack ahead of schedule and the $100 million offering the company just closed will fund working capital requirements for its start-up. On Feb. 14, Pretium Resources Inc. (PVG:TSX; PVG:NYSE) announced the closing of a US$100 million convertible senior subordinated notes offering, including the full exercise of the over-allotment option. Pretium will use the proceeds as working capital for its 100%-owned Brucejack gold mine project and for general corporate purposes. The news comes on the heels of the company’s Feb. 3 announcement that the Brucejack project timeline had been accelerated “with dry commissioning now scheduled to commence in March 2017 and wet commissioning scheduled to commence in early April 2017.” Heiko Ihle of Rodman & Renshaw sees a big positive with the new schedule, highlighting in his Feb. 6 report, “that the updated timeline is ahead of our estimate for mid-year commissioning; therefore, we are increasing our gold production estimate for the year to just shy of 120,000 ounces from just over 93,000 ounces.” Ihle also noted “although capital costs have risen, we continue to view Brucejack as one of the premier gold projects worldwide. . .we have rolled our NAV model into 2017, our price target is unaffected by the increase in total initial capital due to the fact that capital spent to date in 2016 is no longer factored into our model.” Joe Reagor, an analyst for ROTH Capital Partners, also believes the accelerated schedule was a good move, stating in his Feb. 3 … Continue reading