Beiträge von Tschonko

Besser als erwartet: gross margin steigt...

Cabo Announces 2nd Quarter Results

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2009) - Cabo Drilling Corp. ("Cabo" or the "Company") (TSX VENTURE:CBE - News; FRANKFURT:DHL - News) today reported results for its fiscal year 2009 second quarter ended December 31, 2008.

2nd QUARTER HIGHLIGHTS
----------------------------------------------------------------------------
3 months 3 months 6 months 6 months
(CDN $000s, except earnings per ending ending ending ending
share) Dec. 31/08 Dec. 31/07 Dec. 31/08 Dec. 31/07
----------------------------------------------------------------------------
Revenue 11,825 13,635 28,442 27,974
----------------------------------------------------------------------------
Earnings (Loss) Before Interest,
Taxes, Amortization, Stock
Based Compensation and Other
Items (EBITDA) 1,437 1,854 3,941 4,203
----------------------------------------------------------------------------
Net Earnings (Loss) Before Taxes 506 1,212 2,201 2,971
----------------------------------------------------------------------------
Net Earnings (Loss) After Taxes 330 807 1,420 1,890
----------------------------------------------------------------------------
Earnings (Loss) per Share ($)
(Basic and Diluted) Before
Interest, Taxes, Amortization,
Stock-based Compensation and
Other Items (EBITDA) 0.03 0.04 0.08 0.09
----------------------------------------------------------------------------
Earnings (Loss) per Share ($)
(Basic and Diluted) 0.01 0.02 0.03 0.04
----------------------------------------------------------------------------
Cash from Operations(i) 924 1,236 2,745 2,912
----------------------------------------------------------------------------
Gross Margin % 26.1% 25.0% 26.0% 25.6%
----------------------------------------------------------------------------
Working Capital (deficiency) 7,765 7,056 7,765 7,056
----------------------------------------------------------------------------
(i)before changes in non-cash working capital items

The Company reports:
- Quarterly revenue for the 2nd quarter fiscal 2009 of $11.82 million compared to $13.63 million revenue in the 2nd quarter of fiscal 2008.
- 2nd quarter fiscal 2009 earnings before interest, taxes, amortization, stock-based compensation and other items (EBITDA) of $1.44 million compared to 2nd quarter fiscal 2008 earnings before interest, tax, amortization, stock based compensation and other items (EBITDA) of $1.85 million, resulting in 2nd quarter fiscal 2009 earnings before interest, taxes, amortization, stock-based compensation and other items of $0.03 per share and $0.04 per share in the 2nd quarter of fiscal 2008.
- Net before tax earnings for the 2nd quarter of fiscal 2009 of $505,951 compared to 2nd quarter fiscal 2008 before tax earnings of $1.21 million.
- Net after tax earnings for the 2nd quarter of fiscal 2009 of $330,288 compared to net after tax earnings for the 2nd quarter of fiscal 2008 of $806,971, resulting in 2nd quarter fiscal 2009 net after tax earnings of $0.01 per share compared to net after tax earnings for 2nd quarter fiscal 2008 of $0.02 per share.
- Gross margin percentage for the 2nd quarter fiscal 2009 was 26.1% compared with a gross margin of 25.0% in 2nd quarter fiscal 2008 and 26.0% in the 1st quarter of fiscal 2009.
- Cash from operations, before changes in non-cash working capital items, was $924,014 for the 2nd quarter fiscal 2009 compared to 2nd quarter fiscal 2008 cash from operations of $1.24 million.
- A current asset balance of $22.03 million and working capital of $7.77 million.
- Total assets of $38.23 million and total liabilities of $16.74 million.
"The Company recorded revenues for the second quarter, fiscal 2009 of $11.82 million compared to the $13.63 million recorded in the second quarter of fiscal 2008," said John A. Versfelt, President and CEO of Cabo Drilling Corp. "The strength of our international divisions sector continues as 39% of quarterly revenues came from the international sector as compared to 19% in fiscal 2008. The Company has seen a decrease in gross revenue from our Canadian divisions due to decreased demand for drilling and resulting lower prices, because of the economic downturn. Management expects gross revenue from the Canadian divisions to remain low until late 2009. We are also experiencing lower demand for drilling services in our Mexico division."
"The Company recorded a net income of $330,288 during the 2nd quarter of fiscal 2009 or $0.01 earnings per share compared to $806,971 or $0.02 earnings per share in the 2nd quarter of fiscal 2008," noted John A. Versfelt. "EBITDA decreased 22.4% to $1.44 million during the second quarter of fiscal 2009, compared to $1.85 million in the previous corresponding period. This is a direct result of a decrease in gross revenue from our Canadian divisions caused by decreased demand for drilling and resulting lower prices brought about by the economic downturn."
For the full news release please go to the Company's website http://www.cabo.ca or www.sedar.com.
About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; Cabo Drilling Spain S.L. of Seville, Spain; Balkan States Drilling SH.P.K. of Tirana, Albania; and Cabo Drilling (International) Inc. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD

Milly spricht es endlich aus.

Zitat von Milly

Zitat Milly:
...tja um die geschlossene Anstalt bin ich auch dankbar

Tja Milly, irgendwas in die Richtung hab ich ja eh vermutet.....

So und nun der feine unterschied: Es gibt welche, die gehen freiwillig in die geschlossene..........., können aber wieder raus
und andere, die haben Ausgang............, und müssen wieder rein.

dann viel spaß beim Flanieren.....

Und danke, dass du dir immer solche Sorgen um uns und unser Geld machst.....

Ciao und fall net....
T.

http://www.impactsilver.com/s/…arterly-Silver-Production

Mon Nov 24, 2008
Impact Silver Announces Record Quarterly Silver Production
IMPACT Silver Corp. ("the Company" or "IMPACT") is pleased to announce record quarterly silver production of 169,273 ounces, up 98% from 85,610 ounces in 2007. Gross revenues for the third quarter were $2,244,000, up 40% from $1,604,000 in the third quarter of 2007. Higher revenues due to increased silver, lead and zinc production helped offset lower realized silver, lead and zinc prices resulting in a small net loss of $233,000 for the quarter.

During the quarter, a dramatic change in commodity prices affected the industry. Due to the Company's work over the last two years, the Royal Mines of Zacualpan has the flexibility to address lower prices by shifting production to higher grade areas. While the third quarter results reflect the declining price of metals, the rescheduling of production did not occur until the fourth quarter. In order to maintain profitability, some of the scheduled increase in throughput has been delayed to avoid processing non-economic material at this time. Fred Davidson, President and Chief Executive Officer of IMPACT, stated, "We are uniquely positioned with cash reserves and positive cash flow from operations even at these lower metal prices to continue the exploration and development of the Company's numerous projects over the next year."

Cash flows from operations for the quarter increased to $332,000, up from $324,000 in 2007. Cash flows from operations for the nine-month period increased to $2,403,000, up from $377,000 from in 2007. Average mill throughput during the quarter was 302 tpd, up 2% from 296 tpd during the same quarter in 2007.

Nine Months Ended September 30

Tabelle unlesbar
siehe link

After investing $1.4 million in plant and equipment, as well as $4.1 million on resource properties and exploration at the end of the nine months, the Company had cash and cash equivalents of $7.1 million and net working capital of $8.4 million. The Company's working capital position is expected to remain strong through the 2008 year as cash flow from mining operations should be sufficient to fund the majority of the Company's 2008 resource property cost exploration expenditures.

Mine operating cost per tonne for the quarter was $59.27, up from $38.34 in the third quarter of 2007. Mine operating earnings for the quarter were $201,000, down 44% from $358,000 in the third quarter of 2007. Mine operating costs were significantly higher as lower cost bulk mining was used in 2007 to recover higher grade zinc and lead ore from the Guadalupe mine to take advantage of higher prices prevailing for these metals in 2007. In 2008, production shifted to the recovery of higher grade silver ore from the Chivo mine, which is now being accessed through the new mine adits that are being developed. Ore recovered from this mine incurs higher trucking, mining and amortization costs than ore recovered from the old Guadalupe mine which is immediately adjacent to the mill.

Production for the nine months ended September 30:

Tabelle unlesbar
siehe link

Chivo Mine
During the first nine months of 2008, Chivo provided 56% of the ore and the majority of the high silver grade feed. Ore from Chivo is the principal reason that silver production increased in the first nine months of 2008. A second adit approximately 60 meters vertically lower on the structure has been started and is expected to reach the main vein in the fourth quarter of 2008. At that point, Chivo will provide additional high grade development muck to the mill.

Guadalupe and Gallega Mines
Approximately 42% (2007 -- 100%) of the mill feed for the first nine months was from mining of medium grade mineral at the Guadalupe and nearby Gallega Mines. As a result of intensive underground exploration over the last nine months, the Guadalupe Mine is now undergoing redevelopment with rebuilding of track access to new planned production areas in the Kena-Dolores Zone and a number of nearby veins that are providing limited feed to the mill. Subsequent to the end of the third quarter production was reduced at both mines and efforts directed to mine development of higher grade structures.

Exploration
During the quarter IMPACT announced more high grade drill results that continued to expand the mineral zone at the Chivo Mine to over 300m in strike length and still open for expansion. These results included drill intercepts on the south extension of the Chivo Mine zone, including 3,902 g/t silver, 3.96% zinc, 2.16% lead over 1.9 meters true width ("TW") and on the north extension, including 1,118g/t silver, 5.45% zinc, 1.5% lead over 1.4 meters TW. Subsequent to quarter end, IMPACT announced the commencement of a 5,000 meter drill program to test numerous gold-copper and silver targets in the Noche Buena-Carlos Pacheco Mining Camp on the west side of the Royal Mines of Zacualpan District. During the quarter, IMPACT also announced the acquisition of several new concessions more than doubling the Company's mineral concession holdings in the Royal Mines of Zacualpan District from 125 square kilometers to 272 square kilometers.

IMPACT Silver Corp. is a silver focused mining and exploration company operating in Mexico with a producing silver operation at the Royal Mines of Zacualpan, the 200km2 advanced Mamatla Silver District and a portfolio of projects with a producing mill at Zacatecas.

On behalf of the Directors of IMPACT Silver Corp.,

"Frederick W. Davidson"
President, CEO

Energold mit super Zahlen:
http://www.energold.com/s/News…evenue-And-Meters-Drilled

Thu Nov 27, 2008
Energold Announces Record Revenue And Meters Drilled
Energold Drilling Corp. ("Energold" or "the Company") is pleased to announce record net income of $3.4 million for the quarter and $7.5 million for the first nine months of 2008, compared to net income of $2.8 million for the quarter and $5.4 million for the first nine months of 2007. Energold ended the quarter with a strong balance sheet with a working capital position of $45.9 million and cash and cash equivalents of $17.4 million.

Group gross drilling revenues for the year to date were $34.3 million, up 80% from $19.0 million in the comparable period of 2007. Margins (gross revenue less direct costs) were 42% for the period. Quarterly revenues were $14.2 million (2007 - $6.9 million). Energold drilled over 73,000 meters in the current quarter, compared to 44,000 meters for 2007.

Summary of Quarterly Results

hier wär die Tabelle: ergibt nur Zahlensalat.
TABELLE (siehe link) Gross margin beachten!

* Non-GAAP measure
** Calculated on equitable meters drilled in 2007. Under a prior arrangement with certain non-controlling interests, Energold shared the operations in Peru, Ecuador, Guatemala, Brazil, the Dominican Republic, Nicaragua, Zambia and Vietnam. Equitable meters would include 50% of those meters and 100% of the meters drilled on its own account.

With revenues denominated in U.S. dollars, Energold's margins remain sensitive to foreign exchange fluctuations resulting in part in an increase in the average revenue per meter to $194 per meter. It is expected that strength in the price per meter charged in the fourth quarter will continue as the U.S. dollar continues to strengthen in relation to the Canadian dollar.

Meters drilled in the quarter only partially reflected Energold's ongoing program of rapid expansion. At the beginning of 2008, Energold owned a total of 41 drill rigs. Since then, Energold has built 25 additional rigs and acquired a further six drill rigs in southern Africa. By the end of September, the Company had 72 drill rigs, all 100% owned, achieving its year-end target six months early. Due to the remote locations that the new rigs are being mobilized into, the mobilization period has increased from approximately three to five months. Once market conditions have stabilized, the rig expansion program is expected to continue.

Approximately 10% - 20% of accounts receivable at September 30, 2008 is with clients whom are experiencing current financial difficulties because of the tightening of equity capital markets and bank loan financing opportunities. Energold has established a partial allowance for doubtful accounts with respect to these amounts, but expects that with patience most of these accounts will be realizable over time as liquidity returns to the debt and equity markets.

On November 21st, Energold was named winner of the Professional and Services Category in the 2008 BC Export Awards. Presented annually, the BC Export Awards recognize outstanding export success and celebrate the contribution of British Columbia's business community to the economy of the province. During the quarter, Energold's Dominican Republic subsidiary received an award for business excellence from the World Confederation of Businesses. The World Confederation of Businesses promotes public interest in the education and recognition of elite managers, leaders and executives in corporations, and professional service firms worldwide.

Over the last three years, increasing demand for commodities, along with stricter environmental regulations, has pushed the industry into "frontier areas", where the lack of infrastructure has held back exploration in the past. Exploration in these new areas generated a number of social and environmental issues which Energold's rigs are designed to address. As a direct result of all of the trends outlined above, Energold believes that the demand for its style of drilling will remain more active than the industry as a whole. With financings for "small cap" companies disappearing, Energold's already established strategy, to move more toward larger capitalization companies with sufficient working capital ("Majors") as its clients, has paid dividends. Currently, Majors represent 100% of Energold drill contracts. Energold is confident, based on contracts signed and those currently under negotiation, that its fleet of drill rigs will be fully booked with utilization approaching normal rates in 2009.

With excellent working capital, no significant long term debt and new rigs in place or under construction, Energold has the ability to not only support its normal operating requirements on an ongoing basis, but also to capitalize on the continuing demand for drilling especially in frontier areas, into the immediate future. Energold also holds 6.6 million shares of IMPACT Silver Corp.

Cabo Announces Record Quarterly Results
Monday December 1, 9:00 am ET

http://biz.yahoo.com/ccn/081201/200812010500318001.html?.v=1

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2008) - Cabo Drilling Corp. ("Cabo" or the "Company") (TSX VENTURE:CBE - News) today reported results for its fiscal year 2009 first quarter ended September 30, 2008.
1st QUARTER HIGHLIGHTS
----------------------------------------------------------------------------
(CDN $000s, except earnings Q1 - 09 Q1 - 08 FY 2008
per share) Sept. 30 Sept. 30 June 30
----------------------------------------------------------------------------
Revenue 16,617 14,339 58,645
----------------------------------------------------------------------------
Earnings (Loss) Before Interest,
Taxes, Amortization, Stock
Based Compensation and Other
Items (EBITDA) 2,504 2,349 6,764
----------------------------------------------------------------------------
Net Earnings (Loss) Before
Taxes 1,695 1,759 3,951
----------------------------------------------------------------------------
Net Earnings (Loss) After
Taxes 1,090 1,084 3,203
----------------------------------------------------------------------------
Earnings (Loss) per Share ($)
(Basic and Diluted) Before
Interest, Taxes, Amortization,
Stock-based Compensation and
Other Items (EBITDA) 0.05 0.05 0.15
----------------------------------------------------------------------------
Earnings (Loss) per Share ($)
(Basic and Diluted) 0.02 0.03 0.07
----------------------------------------------------------------------------
Cash from Operations(i) 1,821 1,572 2,665
----------------------------------------------------------------------------
Gross Margin % 26.0% 26.1% 24.6%
----------------------------------------------------------------------------
Working Capital (deficiency) 7,716 6,225 3,272
----------------------------------------------------------------------------
(i) before changes in non-cash working capital items

"Cabo recorded its highest ever quarterly revenues for the first quarter fiscal 2009 of $16.62 million compared to our previous high of $16.04 million recorded in the second quarter of fiscal 2008," said John A. Versfelt, President and CEO of Cabo Drilling Corp. "This also represents a 16% increase from the $14.34 million recorded during the first quarter of fiscal 2008. Our international division recorded 27% of the revenues compared to 5% in the first quarter of fiscal 2008 and 19% recorded during fiscal 2008."
"The Company recorded a net income of $1.09 million during the 1st quarter of fiscal 2009 or $0.02 earnings per share compared $1.08 million or $0.03 earnings per share in the 1st quarter of fiscal 2008," noted John A. Versfelt. "EBITDA increased 6.4% to $2.50 million during the first quarter of fiscal 2009, compared to $2.35 million in the previous corresponding period. While these are good results, we are evaluating all cost areas, particularly general and administrative costs, to improve the bottom line even though gross revenues in the coming quarters are expected to be lower."
"We were able to react quickly to the dramatic economic downturn, requiring all of the Cabo divisions to re-evaluate and revise fiscal budgets, as well as implement cost reductions. Salaries, wages and consulting fees have been frozen until further notice. In addition senior management volunteered to take salary cuts," said Mr. Versfelt. "Administration, warehouse and maintenance staff levels were reduced by 25% and a number of general administrative and operating cost reduction measures were taken. As a result of the Company's cost reduction measures, the Company negotiated the return of inventories for credit against accounts payable that should total approximately $1,000,000. We are focused on maintaining and increasing cash flow, tightly managing our inventories and continuing to add to our base of mid-tier and larger capitalized exploration and mining customers with good working capital."
First quarter ended September 30, 2008
Revenue for the quarter ending September 30, 2008 increased 16% to $16.62 million, compared to $14.34 million in the first quarter of fiscal 2008 and 14% compared to the $14.63 million recorded in the fourth quarter of fiscal 2008. The increase can be attributed primarily to significant growth from our international divisions. Revenues from our international divisions represent 27% of first quarter fiscal 2009 revenues as compared to 5 % in the first quarter of fiscal 2008 and 20% in the fourth quarter of fiscal 2008. Management expects international operations to contribute a growing percentage of the Company's total revenue stream as the Albanian division, Balkan States Drilling SH.P.K., begins operations in the second quarter of fiscal 2009.
Direct costs for the quarter ended September 30, 2008 were $12.29 million compared to $10.60 million in the first quarter of fiscal 2008 and $11.72 million in the fourth quarter of fiscal 2008. The increase is a direct result of higher activity, which resulted in higher revenue in fiscal 2008. Gross margins for the quarter ended September 30, 2008 were 26.0% compared to 26.1% during the first quarter of fiscal 2008 and 20.0% in the fourth quarter of the fiscal year 2008. The Company recorded higher gross margins in most divisions during the first quarter of fiscal 2009, but experienced higher costs in the Pacific, United States and Mexico divisions. The lower margins experienced by our Mexico division are a direct result of decreased drill utilization in Mexico during the first quarter of fiscal 2009, as compared to the first quarter of fiscal 2008.
General and administrative expenses decreased by approximately 28.0% or $709 thousand from $2.50 million in the fourth quarter fiscal 2008 to $1.79 million in the first quarter of fiscal 2009. Compared to $1.36 million recorded in the first quarter of fiscal 2008 there was an increase of $160 thousand (10%) in general and administrative expenses. At 10.9%, as a percentage of revenue in fiscal 2008, general and administration costs have increased marginally on a pro-rata quarter to quarter comparison but lower than the 12.4% recorded on an annual basis in fiscal 2008.
To view the Company's complete news release, MD&A, and financial statements please visit the company's website at www.cabo.ca or SEDAR (www.sedar.com).
About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; Cabo
Drilling Spain S.L. of Sevilla, Spain; Balkan States Drilling SH.P.K. of Tirana, Albania; and Cabo Drilling (International) Inc. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
John A. Versfelt, Chairman, President and CEO

Sie verdienen 7cts, kosten zur Zeit 0,11........

Cabo Expands Drilling Services Into Albania and Is Awarded a Minumum 10,000 Meter Drill Contract With Balkan Resources Inc.
Wednesday November 12, 9:00 am ET

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2008 - Cabo Drilling Corp.'s (TSX VENTURE:CBE - News; "Cabo" or the "Company") majority owned Balkan States Drilling SH.P.K. of Tirana, Albania has been awarded its first drilling contract in Albania. The contract is for a minimum 10,000 meters of core drilling on Balkan Resources Inc.'s Kokogllave Drill project in the district of Devolli, Albania.

The Kokogllave project (Koko) is located near the town of Bilisht which lies south east of Tirana, the capital of Albania. Koko is close to the border between Albania and Greece and is situated within the historic lateritic nickel/cobalt mineral region of Korca/Devolli.
Albania, which is one of the few remaining major under explored mineral regions in the world, is a Mediterranean country with unique geographical and geological features. The country is located 82 kilometers across the Strait of Otranto from Italy. Albania has a stable Parliamentary Democracy with a democratically elected government. The Prime Minister is the head of government in a pluriform multi-party system. Albania is a candidate country for admittance to the European Union ("EU") and was recently accepted as a member of NATO. The government has adopted EU integration as the strategic goal of the country and on April 13th, 2007 signed a bilateral agreement with the EU. Albania is making strong progress towards EU admittance and has been a strong ally of Western Europe.
"Cabo is pleased to announce the expansion of the Company's drilling services into the Albanian market place," stated John A. Versfelt, President and CEO of Cabo Drilling Corp. "Together with our Albanian partner, Fatbardh Doko, we have identified a number of opportunities within the country and will use our field office in Albania as a gateway location for potential prospects in the Balkan States Region of Eastern Europe. To this end, Cabo has formed Balkan States Drilling Ltd. a joint venture company with SHSHMN DOKO to offer exploration drilling services in Albania and the rest of the Balkan States Region."
About Balkan Resources Inc.
Balkan is a Canadian junior mining and exploration company focussed primarily on nickel and copper opportunities in Albania. The company has an operations office in Tirana, Albania. Balkan is currently in the process of seeking TSX Venture listing. Claude Schimper, C.O.O. of Balkan Resources Inc. said that "The creation of a Canadian-Albanian joint venture drilling company represents a new phase in mineral exploration in Albania enabling greater exploration opportunities in Albania".
About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; Cabo Drilling Spain S.L. of Sevilla, Spain; and Balkan States Drilling SH.P.K. of Tirana, Albania. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
John A. Versfelt, Chairman, President and CEO

Man sieht/hört sich wieder...
vielleicht in München.

Werde an beiden tagen auf der edelmetallmesse dieses Ding aufhaben...
wenn es mir nicht zu heiß wird......
Wird ja schnell zum "Schnellen Brüter"..

[Blockierte Grafik: http://img18.myimg.de/Ausseerd2a3b.jpg]

Also einfach anreden....

Grüße
Tschonko

TEIL 2:

Fourth quarter ended June 30, 2008
Revenues for the quarter ended June 30, 2008 were $14.63 million compared to $11.68 million in the fourth quarter of fiscal 2007. This represents an increase of $2.95 million or 25% from the fourth quarter of fiscal 2007. During the quarter, we continued to see higher revenues from the international divisions. Net earnings for the quarter were $581,487 compared to net earnings of $162,205 incurred in the fourth quarter of fiscal 2007. This increase in profit is due to increased revenues in fourth quarter year over year and the realization of the future tax asset.
Fourth quarter gross margin of 20.0% is lower than the prior year's fourth quarter gross margin of 26.5%, primarily due to lower margins earned in the Mexico, Ontario and Pacific divisions.
General and administration expenses increased to $2.50 million in the fourth quarter of fiscal 2008 compared to $1.67 million in the fourth quarter of fiscal 2007. This increase can be attributed to increased travel, an increase in salaries because of additional personnel, additional insurance for the international operations, higher audit fees, and a bad debt allowance of $205,452.
Amortization during the quarter increased $59,158 from $709,391 to $650,233, a relatively insignificant amount.
Interest expense increased to $106,255 during the fourth quarter of fiscal 2008 compared to $94,255 incurred in the fourth quarter of fiscal 2007.
Year ended June 30, 2008
Revenue for the year ending June 30, 2008 was $58.64 million, compared to $38.44 million in 2007. This represents a 53% increase in revenues year over year. The increase can be attributed primarily to significant growth from our international, Ontario and Atlantic divisions. Revenues from our international divisions represent 19% of fiscal 2008 revenues as compared to 5% in fiscal 2007. With an increase in the number of drills at our international divisions, management expects international operations to contribute a growing percentage of the Company's total revenue stream.
Direct costs for the year ended June 30, 2008 were $44.90 million compared to $28.98 million in fiscal 2007. The increase is a direct result of higher activity, which resulted in higher revenue in fiscal 2008. Gross margins for the year ended June 30, 2008 were 23.4% compared to 24.6% during the fiscal year ending June 30, 2007. The Company recorded gross margins in excess of 27% internationally, but this was offset by lower margins earned from our Ontario and Pacific divisions.
General and administrative expenses increased to $7.28 million in fiscal 2008 as compared to $5.52 million last year. At 12.4% as a percentage of revenue in fiscal 2008, general and administration costs have decreased pro-rata year over year from the 14.4% recorded in fiscal 2007. Increased costs can be attributed to additional administration personnel in our international operations, higher travel, higher insurance and professional fees. Salaries and wage expense increased from $3.25 million in fiscal 2007 to $4.70 million in fiscal 2008, as a result of hiring additional personnel, but also because this was the most significant year for salary increases for all administration and management personnel who had received marginal increases in previous years. The Company's international expansion during fiscal 2008 resulted in increased total corporate travel costs to $461,049 as compared to $206,070 incurred during fiscal 2007.
Amortization of property, plant and equipment for the fiscal year ending June 30, 2008 increased to $2.40 million compared to $1.69 million during fiscal 2007. The increase is due to the acquisition of $5.37 million of capital assets within the last fiscal year.
The Company incurred a $392,804 interest expense during fiscal year ending June 30, 2008, compared to $255,515 incurred during fiscal 2007. Increased interest charges during the year are primarily due to higher utilization of the demand loan and operating line to finance the increased inventory and new capital leases for drilling equipment.
EBITDA (earnings before interest, tax, amortization, stock-based compensation and other items) for fiscal 2008 increased 73% to $6.76 million ($0.15 per share basic dilution) as compared to $3.92 million ($0.11 per share basic dilution) in fiscal 2007. Net income, after taxes, increased to $3.20 million for the fiscal year ending June 30, 2008 as compared to a net income of $926,498 recorded in fiscal 2007.
The Company's current cash (cash and cash equivalents) position at June 30, 2008, is $785,261 compared to $422,337 at June 30, 2007. The increase in cash is primarily due to additional deposits at the international divisions.
Short-term investments and marketable securities decreased $88,152, from $204,460 at June 30, 2007, to $116,308 at June 30, 2008. The decrease can be attributed to the disposition of some marketable securities and changes in market prices at June 30, 2008. We adjusted the value of our holdings at June 30, 2008 as recorded in the comprehensive income statement. At June 30, 2008, the balance of $116,308 consists of shares in Canadian public corporations.
Accounts receivable increased by $3.13 million to $11.96 million at June 30, 2008 from $8.83 million at June 30, 2007. The increase primarily resulted from higher revenues during fiscal 2008. This balance at June 30, 2008 represents 82% of revenues earned during the fourth quarter of fiscal 2008. Management expects to reduce receivables as the business consolidates.
Inventory levels increased by $4.13 million to $9.65 million at June 30, 2008 from $5.52 million at June 30, 2007, as a result of the expansion into Spain, Panama, and Mexico, as well as growth in the Ontario division. Management anticipates the inventory levels to be reduced as the Company rationalizes its inventory between divisions and implements a management information system that will provide just in time inventory information.
Property plant & equipment increased to $14.17 million at June 30, 2008 from $10.82 million at June 30, 2007 an increase of $3.35 million during the year because of additions to the drill and large equipment fleet. The Company invested $5.47 million in new property plant and equipment in the past fiscal year.
Consolidated total assets increased in fiscal 2008 to $38.70 million at June 30, 2008 from $26.97 million at June 30, 2007. The increase is primarily due to additions to our capital asset base, higher inventory and increased total accounts receivable at June 30, 2008. The increase in accounts receivable has grown in conjunction with the increased revenues, whereas inventory increased in all international and the Ontario division.
Consolidated total liabilities increased by $4.94 million to $18.60 million at June 30, 2008, from $13.66 million at June 30, 2007, primarily as a result of the increased term and operating line borrowings required to fund the increased inventory, receivables and capital assets. Accounts payable also increased by 46% to $7.70 million at June 30, 2008 as compared to $5.24 million to fund the increased inventory.
The mineral drilling industry is dependent on demand for precious, base and strategic metals, as well as precious stones. Demand and supply factors for these commodities can change dramatically up and down, as we have witnessed in the past two years, causing dynamic shifts in the supply of drills and drilling personnel from under supply to over supply. The recent financial stress in financial credit and equity markets, as well as significant global currency changes, have caused substantial negative changes to the global metals supply and demand factors, resulting in much uncertainty in the global mining and related services markets. Management has initiated further cost and spending controls, as well as risk management procedures throughout the Company. Largely due to prudent debt management over the past two years, the Company's banking facilities are safe and debt ratios are low. Senior management is very focused on careful cash management, reduction of debt, high customer relations and high employee relations.
About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.

Teil 1:

Cabo Announces Record Annual Revenue and Earnings and Fourth Quarter Results
Friday October 31, 9:00 am ET
NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2008) - Cabo Drilling Corp. ("Cabo" or the "Company") (TSX VENTURE:CBE - News; FRANKFURT:DHL - News) reports results for its fourth quarter and fiscal year ended June 30, 2008.
4th QUARTER & ANNUAL HIGHLIGHTS

----------------------------------------------------------------------------
3 months 3 months
(CDN $000s, except earnings ending ending
per share) June 30-08 June 30-07 FY 2008 FY2007
----------------------------------------------------------------------------
Revenue 14,634 11,679 58,645 38,447
----------------------------------------------------------------------------
Net Earnings (Loss) Before
Interest, Tax, Amortization,
Stock-based Compensation and
Other Items (EBITDA) 701 1,420 6,764 3,921
----------------------------------------------------------------------------
Net Earnings (Loss) Before Taxes (115) 425 3,951 1,588
----------------------------------------------------------------------------
Net Earnings (Loss) After Taxes 581 162 3,203 926
----------------------------------------------------------------------------
Earnings (Loss) per Share ($)
Basic Before Interest, Tax,
Amortization, Stock-based
Compensation and Other Items
(EBITDA) 0.02 0.04 0.15 0.11
----------------------------------------------------------------------------
Earnings (Loss) per Share ($)
Basic 0.01 0.00 0.07 0.03
----------------------------------------------------------------------------
Cash from operations(i) 815 888 5,149 2,665
----------------------------------------------------------------------------
Gross Margin % 20.0% 26.5% 23.4% 24.6%
----------------------------------------------------------------------------
Working Capital 7,280 3,272 7,280 3,272
----------------------------------------------------------------------------

(i)before changes in non-cash working capital items

The Company reports:
- Revenue of $14.63 million for the 4th quarter of 2008, an increase of $2.95 million compared to 4th quarter revenue of $11.68 million in fiscal 2007.
- Net 4th quarter 2008 earnings before interest, tax, amortization, stock-based compensation and other items of $701,078 and net earnings of $581,487 after interest, tax, amortization, stock-based compensation and other items resulting in earnings of $0.02 per share and $0.01 per share, respectively. This compares with the 4th quarter 2007 earnings before interest, tax, amortization, and stock-based compensation of $1.42 million and net earnings of $162,205 after interest, tax, amortization, and stock-based compensation resulting in earnings of $0.04 per share and $0.00 per share respectively, a positive net income swing of $419,282 from 2007 to 2008.
- Net before tax earnings for fiscal 2008 of $3.95 million compared to a net before tax earnings for fiscal 2007 of $1.59 million, an increase of $2.36 million.
- Net after tax earnings for the fiscal year 2008 of $3.20 million compared to net after tax earnings for fiscal 2007 of $926,498, an improvement of $2.27 million year over year.
- Gross margin percentage for the 4th quarter fiscal 2008 was 20.0%, compared with a gross margin of 26.5% in the 4th quarter of fiscal 2007 and 23.4% in fiscal 2008 compared to 24.6% in fiscal 2007.
- Cash from operations, before changes in non-cash working capital items, was $814,615 for the 4th quarter 2008 and $5.15 million for fiscal 2008, compared to 4th quarter 2007 cash from operations of $888,489 and $2.67 million for the fiscal year 2007.
- A current asset balance of $23.51 million and working capital of $7.28 million.
- Total assets of $38.70 million and total liabilities of $18.60 million.
"Cabo recorded its highest revenues and net income ever in fiscal 2008," Mr. Versfelt stated. "Record revenues for the fiscal year of 2008 were $58.64 million compared to $38.44 million for the fiscal year ending 2007, that's a 53% increase. In addition to the revenue growth internationally, we also had substantial growth at our Ontario division and continued strong results from our Atlantic division." "Cabo's expansion in 2007 and 2008 was fuelled by an increased number of drills in the international market and an increased number of employees worldwide," stated Mr. Versfelt. "Cabo added eight drills to the international market during the fiscal year 2008 resulting in international revenue growth of 19% of consolidated revenues for the year, compared to 5% in fiscal 2007. This expansion was carried out evenly between the divisions in Spain, Panama, Mexico and the United States."
"The Company recorded net income, after taxes, of $3.20 million and earnings per share of $0.07," Mr. Versfelt said. "We also improved our EBITDA (earnings before interest, taxes, amortization, stock-based compensation and other items) by 73% from $3.92 million in fiscal 2007 to $6.76 million in fiscal 2008. The growth within Cabo over the last four years has created a solid foundation for the years ahead."
"Cabo had gross margin performance of 20.0% for the 4th quarter fiscal 2008 (26.5% 4th quarter fiscal 2007) and 23.4% for the fiscal year 2008 (24.6% for 2007)," Mr. Versfelt stated. "We recorded gross margins in excess of 27% internationally, but this was offset by lower margins earned from our Ontario and Pacific division."
"During the first four months of fiscal 2009, seven more drills were added to the Company's international fleet, now totaling 24 of 111 drills owned by the Company. With the dramatic downturn in the financial and commodity markets, the Company does not expect to increase its fleet, nor make any significant capital expenditures," Mr. Versfelt said. "On the other hand, it is likely that our drills will be moving between divisions, taking advantage of new contracts in areas that need more drills."
"In order to improve on profitability in an environment of decreasing demand and volatile commodity prices, we must be relentless on cost control and reducing our spending, while at the same time maintaining our experienced workforce, enforcing our high safety standards, and remaining focused on high employee and customer relations," Mr. Versfelt stated. "Within in the last year Cabo has employed five general managers with extensive experience in expanding as well as retracting markets. This along with the foundation we built over the last three years will assist us in working through these changing times."

Doch zu teuer SMD zu übernehmen....
wenig Aktien heraußen

Timberline Forms 50/50 Joint Venture At Butte Highlands With SMD, Agrees to Cancel Acquisition of SMD, and Completes $10-Million Debt/Equity Financing to Retire Bridge Loan Facility
Monday October 27, 8:33 pm ET
COEUR D'ALENE, Idaho, Oct. 27, 2008 (GLOBE NEWSWIRE) -- Timberline Resources Corporation (AMEX:TLR - News) announced today that it and Ron Guill have mutually agreed to cancel the agreement to acquire Small Mine Development, LLC (``SMD''), while simultaneously agreeing to form a 50/50 joint venture with SMD at Timberline's 100-percent owned, royalty-free Butte Highlands Gold Project. Under terms of the agreement, Timberline will be carried to production by SMD, which will fund all mine development costs and begin development next summer. Both Timberline's and SMD's 50-percent share of costs will be paid out of proceeds from future mine production.
Timberline also agreed to a $10-million debt & equity financing with Ron Guill, a Timberline Director and the sole owner of SMD. The financing consists of a $5-million 2-year note convertible into Timberline common stock at $1.50 per share and $5-million in Timberline common stock valued at $0.90 per share, resulting in Mr. Guill becoming the Company's largest individual shareholder. Proceeds from the financing allow Timberline to pay off its bridge loan with Auramet Trading, LLC and provide working capital. As a listed company, the issuance of shares is subject to the additional share listing application process of the NYSE Alternext.
Timberline CEO Randal Hardy stated, ``We are excited about this transaction. In these unprecedented market conditions, it proved extremely difficult to complete the acquisition of SMD under acceptable terms. Therefore, we jointly agreed that the unpredictability in the current economic climate presented too great of a risk to the Company and our shareholders. Under these circumstances, we believe that our strategic partnership with SMD at Butte Highlands provides an excellent opportunity for our shareholders by placing our most-advanced project on a development track with considerably less share dilution. This partnership is a model for future opportunities in underground mine development and mining with SMD.''
Timberline will have approximately 34-million shares outstanding. According to the preliminary economic analysis of the Butte Highlands project, once successfully in full production, at a gold price of $600 per ounce, the estimated annual revenue from the project is $51.5-million. Timberline's 50-percent interest in the project could annually generate an estimated $25.8-million in revenue and $11-million in net income (32 cents per share). At $800 per ounce, the estimated annual revenue from the project is $68.7-million, resulting in an estimated $34.4-million in revenue and $19-million in net income (55 cents per share) to Timberline.
Chairman John Swallow added, ``While both sides went to great effort and expense to consummate the acquisition agreed to nearly a year ago, the world of a year ago is, unfortunately, not the world of today. In attempting to push a deal that made sense until recently, but does not today, we risked creating an entity unable to generate sufficient cash flow or take advantage of the opportunities that exist today. We have no control over the credit markets and little use for them or the process at this time. The resulting structure of Timberline demonstrates the strength of our relationships with those truly motivated to build shareholder value.''
Nearly 100,000 feet of past drilling by major and junior mining companies outlined historic mineralization (pre-dating and not compliant with NI 43-101 or SEC Guide 7) exceeding 500,000 ounces of gold. As announced previously, a preliminary economic analysis conducted by SMD assumes the successful confirmation of this historic mineralization, including its tonnage and average grade. Highlights of the analysis include:
* Development program including an exploration decline, which
becomes the production ramp, underground drill stations, and
underground drilling at a total estimated cost of $15-million to
$18-million.

* Ability to achieve production in less than 2 years.

* Anticipated custom milling at nearby facilities with excess
capacity, bypassing the need to permit and construct an onsite
mill and tailings pond.

* A 1,000 ton-per-day operation at an average grade of 0.289
ounces of gold per ton, yielding annual gold production of
approximately 85,000 ounces per year over a 5-year mine-life.

* Sensitivity analysis indicating robust economics at gold prices
as low as $500 per ounce.

Timberline Resources Corporation has taken the complementary businesses of mining services and mineral exploration and combined them into a unique, forward-thinking investment vehicle that provides investors exposure to both the ``picks and shovels'' and ``blue sky'' aspects of the mining industry. Timberline has contract drilling subsidiaries in the western United States and Mexico and an exploration division focused on high-potential, district-scale gold projects. The Company has a 50/50 joint venture with Small Mine Development, LLC at Timberline's 100-percent owned, royalty-free Butte Highlands Gold Project which is scheduled for development beginning in 2009. Timberline is listed on the American Stock Exchange and trades under the symbol ``TLR.''

Fortsetzung:
...The most immediate market action is likely to come in the gold sector.

The cost of the financial bailout in the U.S. is measured in the trillions of dollars. The latest bailout package was $850 billion, including the tax breaks thrown in to get it approved. Add in the earlier bailouts and recognize that nationalizing Fannie Mae and Freddie Mac added $5 trillion dollars of liabilities to the U.S. government, bringing the total debt to $14 trillion.

Don’t forget the on-going wars in Afghanistan and Iraq and the huge trade deficit. The dollar was falling sharply before the burden of the bailouts was added. European governments are also conducting bailouts of failed banks.

Ironically, the bailouts have hurt the price of gold. That is a short term reaction, as traders seem to reason: “OK, the U.S. financial system isn’t going to collapse this week, I don’t need to own gold”, and they dump their holdings.

Anybody who takes a longer term perspective will realize that if a government simply keeps spending enormous amounts of money that it doesn’t have on things that do not generate a return for the economy, then the value of the currency will decline.

The whole financial mess, for many investors, has destroyed confidence in the global financial system.

Right now, investors seeking safety are flocking to U.S. treasury bills. That is particularly ironic, as the dollar, in the longer term, will suffer the most from the bailouts and the plummeting confidence. In time, gold will be the biggest beneficiary.

I can’t tell you what the gold price will be tomorrow, or next week or next month. Nobody can. I can tell you with certainty that the gold price will be high enough that the major gold producers will continue to mine it. As long as gold companies are mining gold, they will be looking for new deposits to at least offset the amount mined each year. The juniors will continue to play an important role in finding and developing new gold deposits.

It doesn’t really matter what the gold price is: a new discovery will generate big returns for shareholders of a junior gold company. Advancing a deposit toward production will generate returns for shareholders of a junior gold company.

It’s not hard to make the case that the situation in the junior mining sector will improve in time. Of course, we all want to know precisely when the markets will turn around.

Just remember that the situation always looks bleakest at the bottom of the market and it looks rosiest at the top of the market. It requires a lot of nerve to invest contrary to what appears to be the right thing to do. At present, at least on the surface, this appears to be a really bad time to be investing. And that makes it the best time to be buying.

The greatest gains come from buying at the bottom of the markets and selling at the tops. That means buying when prevailing wisdom says it is a bad time.

We will never know exactly when the bottom is. Here are some things to consider at present. Over the past few weeks, Warren Buffet has invested $12.7 billion into the markets, including $5 billion into Goldman Sachs, one of the investment banks. The popular press thinks it strange that Buffet is investing at a time when things are so bad. But, that is precisely how he became the world’s richest investor.

Other signs that the worst may be over: the U.S. bailout has been approved. It will take some weeks for the program to be implemented, but at least bankers know there will be relief coming. The failed banks are being snapped up quickly by other banks. In the latest deal, Citigroup tried to scoop up Wachovia within a day of its collapsing, but they were outbid by Wells Fargo.

Citigroup, which had the smarts to avoid the moves that led other banks into trouble, published a report last month that examined the commodities. They concluded: "It is important not to lose sight of the long term picture. We regard these conditions as a correction ... in a secular bull market. The drivers of the super cycle - urbanisation and industrialization in China and supply shortfalls are intact. Indeed the next up-cycle could be even more powerful than its predecessor."

If that report had come from one of the failed banks, I would not have paid much attention. Citi had enough smarts to avoid the mistakes that overtook so many of the other banks.

Investors are not going to suddenly rush back into the junior resource markets. But, those who buy the solid companies at the present severely depressed prices stand to enjoy big gains in the fullness of time.

The most immediate reaction will come from within the industry. Smaller companies will merge in deals that add shareholder value. The larger companies will be taking over smaller companies with good deposits.

To give an indication of the valuations: At present, major gold companies are valued on the basis of just under $200 per ounce of total gold resources. Juniors, on average, are valued at a mere $29 per ounce. At prices like that, the juniors must look extremely enticing to the larger companies. Obviously, there would be takeover premiums that would generate returns from the current price levels.

Companies like CGA Mining, which is close to production, look very attractive.Another interesting area is platinum: the price is down 60% from the $2,300 level earlier this year. Demand is growing and supplies are constrained. The market was clobbered by a big selloff by a platinum ETF. Eastern Platinumis making big profits even at the current price and will do very well with a rebound.

It’s a similar situation for silver: development stories like Bear Creek, small producers like Aurcana and Great Panther.

Uranium is going to come back in the not too distant future. Hathor has made a very important discovery and is not getting full value. Soon enough, investors will again wake up to the fact there is an energy shortage and uranium stocks will again become popular.

Panic selling at this stage is definitely the wrong thing to do. Taking advantage of the panic selling of others could net you some good companies at attractive prices. Be selective. Be patient. The market will come back.

October 10, 2008
Wise Words For Investors In A Bear Market

By Lawrence Roulston of Roulston Opportunities

We have all heard enough about how bad the financial situation is. There is no question that the markets are in a terrible mess. The U.S. credit crisis is serious, it is spreading, and it’s not going to get better over night. The situation is worse than nearly anyone imagined.
However, there are some bright spots and those bright spots represent investment opportunities.

As so often happens, the markets act like pendulums, swinging from one extreme to the other. A year and a half ago, the U.S. economy was booming, fuelled by a fraud of gigantic proportions that pushed housing prices and debt to absurd levels. The bursting of that housing bubble saw the pendulum swing to the opposite extreme as investors panicked and sold everything.

There may be a long period of transition as the various bailout measures kick in and get the economy back on track. But, let’s not forget that the U.S. has been through a number of difficulties and always manages to muddle along and then recover to be stronger than ever. I don’t believe that the U.S. will ever regain the level of supremacy that it once held in the financial world but the current crisis will pass, as it has every time before.

Look, the U.S. economy is not going to drop into some great black hole in the ground and suck the rest of the world in as some would have you believe.

As far as the rest of the world is concerned, it doesn’t really matter a great deal if the U.S. economy grows by 1 or 2% or shrinks by 1 or 2%.

Looking at the metals: China has been and continues to be the most important driver in the metals markets. Headlines are now screaming out that the Chinese economy is slowing. Those few investors who read beyond the headlines will see that China’s pace of growth has slowed from more than 11% a year to just over 10%.

If you think about it further, you will realize that 10% growth, coming on the larger base, actually represents the same amount of real growth as last year. India is still growing strongly, as is much of Asia. Similarly, the pace of growth is slowing, but is still at a pace that developed countries can only dream of.

Similarly, the popular press trumpets the fall in the oil price. It is only down when stacked up against the spike earlier in the year when speculators pushed it briefly to $140. When measured against the level of a year ago and two years ago, the oil price is up. Huge amounts of money are flowing to oil exporting nations which, like the Asian nations, are building infrastructure.

We constantly hear about the bursting of the commodities bubble. Yet, metal prices are still well above long term trends. Iron ore prices are still rising sharply: and definitely not driven by speculators. The prices are set by producers dealing directly with users.

When President Bush and the Treasury Secretary were trying to sell the bailout package, they painted a picture of dire consequences if the measure did not pass. That message seems to have been taken literally by many investors who are now even more terrified than they were before.

Whether the U.S. grows by a couple of percent, or shrinks by a couple of percent, other parts of the world continue to grow. It is important to note that the emerging markets are far more intensive users of metals that the developed world. The U.S. is more of a service-oriented economy, whereas China and the other developing nations are more heavily involved in building factories, housing, infrastructure and other things that use a lot of metal.

The net result is that world-wide demand for metals continues to grow. New sources of supply are needed to match that growing demand and to replace older mines as they are depleted. Much of the mining industry investment in this cycle has been directed to buying existing production.

The major producing mining companies are being valued on the basis that metal prices will fall hard based on a U.S. recession impacting the rest of the world. That hasn’t happened, and will not happen. And that means that the mining companies are being valued at exceptionally low levels in relation to actual and projected earnings. Teck Cominco represents exceptional value.

The majors have suffered, but the smaller companies have been beaten down to absurdly low levels. We are already seeing takeovers as the larger companies go bargain hunting. The smaller and mid-tier companies are beginning to merge. Those deals will be accretive to shareholder value as they will create larger and stronger companies.

Recovery in the junior mining sector will not be the same for all companies. Those companies that need to raise money in the near term will continue to face real challenges. Many will have to look to joint ventures, asset sales and mergers to find the money they need to move forward.

There are many small companies with defined metal deposits, strong management, and cash. Those companies will come back early in the recovery.

Some commentators worry that there will be no money for mine development. Clearly, if a junior walked into a bank tomorrow and asked to borrow a few hundred million dollars to develop a mine, they would get a rather chilly reception.

However, the smelter companies, the metal trading companies, and the majors are awash in cash and are seeking new supplies. Baja Mining recently completed an $800 million financing package to develop a mine in Mexico. They worked with a consortium of Korean metal companies. The market seems to have missed the fact that Baja’s project is now funded and well on its way to production. Base metal companies are out of favour, making advanced-stage deals like Baja excellent investment opportunities.

Once the panic subsides, there will be a great many banks and other investors who welcome the opportunity to invest in tangible assets instead of the alphabet soup of financial hocus pocus that was on offer for the past few years.

I believe that the current financial mess will result in a return to more fundamental-based investing and that move will benefit mine developers. It won’t happen overnight, but it will come.

The message here is that those juniors that hold metal deposits that can be developed into mines will see a return to more rational values. Those companies that are still hoping to find a metal deposit at some time in the future may have longer to wait.

There is lots of cash available among the larger mining companies. Just looking in Canada, we see Barrick with nearly $2 billion, and Teck, Goldcorp and Inmet all sitting on more than a billion dollars of cash.

What I’m saying here applies equally to precious metals, base metals, minor metals and uranium. We aren’t looking to gains in the commodity prices. We are looking to companies that are adding value to their assets.

Kann man vergessen.....
Nur die Explorationsgebiete haben noch einen gewissen reiz.
Vom Kurs her sind sie natürlich schon wieder interessant.

Sterling Mining Company beabsichtigt De-Listing von Börse in Totonto
Wallace, Idaho. 10. Oktober 2008. Der Vorstand von Sterling Mining Company (TSX:SMQ, OTCBB:SRLM, WKN 121 480) hat bei der Torontoer Börse einen schriftlichen Antrag zum freiwilligen De-Listing der Stammaktien an der TSX eingereicht.

Nach der gründlichen Prüfung der Unternehmensbedürfnisse hat Sterlings Vorstand einstimmig entschieden, die Aktien an der TSX aus dem Handel zu nehmen. Die Notiz der Stammaktien von Sterling Mining Company (TSX:SMQ) wird nach Handelsschluss am Freitag, dem 17. Oktober 2008, eingestellt.

Die Aktien werden weiterhin am Over the Counter Bulletin Board (OTC Bulletin Board) in den Vereinigten Staaten gehandelt. Sterlings Vorstand hat das De-Listing der Aktien und die De-Registrierung der Aktien genehmigt und erkannt, dass das OTC Bulletin Board den wichtigeren Handelsmarkt für die Aktien darstellt. Sterling rechnet nicht damit, dass seine Aktionäre in den USA nachhaltig von der freiwilligen Streichung von der TSX beeinflusst werden, da die US-Aktionäre die Aktien weiterhin über das OTC Bulletin Board handeln können.

Guter Deal, nur wo nehmen sie die 25 Mille her zu welchen Bedingungen

Timberline Signs Letter of Intent to Amend the Purchase Agreement to Acquire Small Mine Development, LLC
Friday October 10, 8:30 am ET

COEUR D'ALENE, Idaho, Oct. 10, 2008 (GLOBE NEWSWIRE) -- Timberline Resources Corporation (AMEX:TLR - News) announced today that it has signed a non-binding Letter of Intent to amend the purchase agreement to acquire Small Mine Development, LLC (``SMD''), one of the largest underground mine contractors in the United States. The Company expects to sign the definitive version of the amendment to the purchase agreement shortly.

The Letter of Intent reflects a revised purchase price of $70-million to Ron Guill, the sole owner of SMD and a Timberline Director. Timberline has agreed to pay $25-million in cash at closing, payable from a secured financing facility, and $45-million in Timberline common stock (valued at $1.16 per share). The Letter of Intent also contemplates that Timberline will establish a Restricted Stock Plan for key employees and management. There are no options or warrants included in the new agreement or in the Restricted Stock Plan. In conjunction with the amended agreement, Timberline is in advanced negotiations with Auramet Trading, LLC with regard to extending and/or amending its existing bridge loan facility.
SMD was founded in 1982 and has approximately 300 employees working at six mine sites, for clients such as Newmont Mining. In 2007, SMD had earnings before interest, taxes, depreciation, and amortization (EBITDA) of $23.8-million on revenues of $101.4-million. Over its last five fiscal years, SMD has generated EBITDA of 22 to 24-percent of revenue on steady revenue growth.
Timberline CEO Randal Hardy stated, ``We are very pleased to reach this agreement, despite extremely difficult market conditions, and believe that it is advantageous to our shareholders and to the employees of both SMD and Timberline. The revised deal structure allows us to complete the acquisition while bypassing the capital markets and avoiding unmanageable debt.''
Timberline Chairman John Swallow added, ``We believe that the amended terms remove considerable uncertainty regarding the acquisition while adding a committed, long-term majority shareholder in Ron Guill. We remain confident that our combined management team will deliver strong returns from our contract mining and drilling businesses, despite the present market uncertainty. Furthermore, by adding underground mine development and operation to our in-house capabilities, we will be well-positioned for further growth within the resource sector.''
With SMD fully integrated, Timberline plans to aggressively advance its Butte Highlands Gold Project. The Company recently announced that a preliminary in-house economic analysis indicated the potential for the project, once successfully developed, to significantly increase consolidated EBITDA with a gold price as low as $500 per ounce. (See Timberline's press release dated September 19, 2008 for details.) Partial results from the Company's ongoing drill program at Butte Highlands will be announced shortly.
Timberline Resources Corporation has taken the complementary businesses of mining services and mineral exploration and combined them into a unique, forward-thinking investment vehicle that provides investors exposure to both the ``picks and shovels'' and ``blue sky'' aspects of the mining industry.
Timberline has contract drilling subsidiaries in the western United States and Mexico and an exploration division focused on high-potential, district-scale gold projects. With its anticipated acquisition of a premier American underground mine contractor, Small Mine Development, Timberline will strengthen its position as an emerging, vertically-integrated resource company. Timberline is listed on the American Stock Exchange and trades under the symbol ``TLR''.
Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words ``anticipate,'' ``believe,'' ``estimate,'' ``plan,'' ``intend'' and ``expect'' and similar expressions, as they relate to Timberline Resources Corporation, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, such factors, including risk factors, discussed in the Company's Annual Report on Form 10-KSB for the year ended September 30, 2007. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements.

Hochschild ist da das problem, die zahlen Exmin null für Morris produktion.
Geht alles in Gerät und mine.
da stehst dann blöd da als JV Partner.

Im übrigen machen sie dasselbe bei Minera Andes. Nur die halten das wegen mehr Cash besser aus.

Grüße
T.

VMS Ventures Inc.: Drill Hole RD-08-61 Intersects 100.19 Metres of 3.59% Copper, Including 9.71 Metres of 17.79% Copper at Reed Lake Discovery Zone, Snow Lake, Manitoba
Wednesday October 1, 6:30 am ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Oct 1, 2008 -- VMS Ventures Inc. (CDNX:VMS.V - News) (the "Company") is pleased to announce assay results from drillholes RD-08-58, RD-08-59, RD-08-60 and RD-08-61 at its Reed Lake Discovery Zone near Snow Lake, Manitoba.

Highlights:

- RD-08-61 Intersects: 100.19 metres (328.70 feet) of 3.59% Copper
Including 40.50 metres (132.87 feet) of 7.79% Copper
Including 16.33 metres (53.58 feet) of 14.58% Copper
Including 9.71 metres (23.59 feet) of 17.79% Copper

- RD-08-58 Intersects: 26.74 metres (87.73 feet) of 2.51% Copper
Including 13.03 metres (42.75 feet) of 3.36% Copper

TABLE ONE
REED LAKE DRILLHOLES(i)
RD-08-58, RD-08-59, RD-08-60 and RD-08-61

------------------------------------------------------------------------
FROM TO INTERVAL COPPER ZINC SILVER GOLD
HOLE ID (m) (m) (m) (%) (%) (g/t) (g/t)
------------------------------------------------------------------------
RD-08-58 251.36 278.10 26.74 2.51 0.05 Pending Pending
------------------------------------------------------------------------
inc 259.80 272.83 13.03 3.36 0.06 Pending Pending
------------------------------------------------------------------------
RD-08-59 125.23 125.80 0.57 2.76 0.63 Pending Pending
------------------------------------------------------------------------
and 185.01 223.41 38.40 0.92 0.05 Pending Pending
------------------------------------------------------------------------
and 221.41 223.41 2.00 6.94 0.26 Pending Pending
------------------------------------------------------------------------
RD-08-60 326.22 327.10 0.88 2.40 0.90 Pending Pending
------------------------------------------------------------------------
and 331.88 332.56 0.68 1.15 0.07 Pending Pending
------------------------------------------------------------------------
RD-08-61 139.00 144.89 5.89 2.26 0.98 Pending Pending
------------------------------------------------------------------------
and 231.51 331.70 100.19 3.59 0.11 Pending Pending
------------------------------------------------------------------------
inc 231.51 272.01 40.50 7.79 0.07 Pending Pending
------------------------------------------------------------------------
inc 254.37 270.70 16.33 14.58 0.13 Pending Pending
------------------------------------------------------------------------
inc 254.37 264.08 9.71 17.79 0.14 Pending Pending
------------------------------------------------------------------------
and 372.32 373.25 0.93 3.61 0.51 Pending Pending
------------------------------------------------------------------------
(i) True Thickness unknown
Vice President of Exploration, Dr. George Gale, states, "Hole 61 demonstrates that the B lense has potential to host exceptional copper grades. The lower intersection at 372.32 m may very well represent the beginning of a new and deeper B-type lense, which also occurs within the alteration zone rocks. We will continue to focus our investigations on locating the source for this mobilized mineralization."
All technical information in this release has been reviewed by Dr. George Gale, P.Eng., Vice President, VMS Ventures Inc.
VMS Ventures Inc. currently has a profile on Corebox.net which is updated as soon as assay results are released. The link to visit our Corebox profile is: http://www.corebox.net/properties/reed_lake/.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc properties in the Flin Flon-Snow Lake VMS Belt. The Company also holds the largest land package considered prospective for nickel-copper mineralization at Lynn Lake, which is to date Canada's third largest nickel producing camp. The Company's project portfolio consists of the Snow Lake VMS project, the Lynn Lake Gabbros nickel-copper project, the Nickel Belt project, the South Bay nickel-copper-cobalt PGE property, and the Eden Lake Carbonatite Complex, Specialty Metals property. All VMS Ventures Inc. properties are located in the mining friendly province of Manitoba, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal B.Sc., President & Director

@edel,
ja hab ich noch, hab das übersehen, war, als Emoba starb.

Inzwischen 6 gute Bohrergebnisse, einige ganz hervorragend.
der haken ist, dass es wohl untergrundmine werden soll, soweit ich mich erinnere

http://biz.yahoo.com/iw/080731/0420859.html

http://biz.yahoo.com/iw/080814/0425057.html

http://biz.yahoo.com/iw/080903/0430054.html

http://biz.yahoo.com/iw/080904/0430586.html

http://biz.yahoo.com/iw/080916/0434103.html

http://biz.yahoo.com/iw/080923/0436534.html

Grüße
T.

Edelmann,
na sicher doch, lohnt immer.......

nach dem Motto:

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im übrigen hätt ich gerne eime Antwort im gekillten thread.....

Grüße
Tschonko

Exmin hat 2 Joint Ventures unter Dach gebracht.

Genau das Richtige zur Zeit.
Die Bedingungen, bzw, cash sind lausig, aber wenn was entdeckt wird, ist es o.k.
Und es wird, sind ja sehr gute properties.

EXMIN Options East Durango Property to Quaterra Resources
Tuesday September 30, 8:30 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 30, 2008 -- EXMIN Resources Inc. (EXMIN) (CDNX:EXM.V - News) is pleased to announce that it has signed a letter agreement with Quaterra Resources Inc. (CDNX:QTA.V - News)(QMM - News) (Quaterra) to joint venture EXMIN's East Durango Property, Mexico. The East Durango property consists of the 11,181-hectare Tecolote concession which is 100%-owned by EXMIN's Mexican subsidiary, EXMIN SA de CV. EXMIN's Tecolote concession abuts and is directly north of Quaterra's Mirasol-Americas projects, which are adjacent to the east boundary of Hecla Mining's San Sebastian Project.
Under the terms of the agreement, Quaterra can earn a 75% interest in the East Durango property by spending $500,000 U.S. in exploration plus annual payments to EXMIN that total $100,000 U.S. over a four-year period.
According to Tom Turner, Quaterra's Manager of Mexican Exploration, "This acquisition allows Quaterra to consolidate a large strategic land block in the center of the Mexican Silver Belt, a mining-friendly area of past and present silver and gold production with excellent infrastructure."
Karl Boltz, Co-founding President, CEO and Director of EXMIN, stated, "We are pleased to be able to participate in a joint venture with a quality company like Quaterra. Exploration activity in this part of Mexico is booming after several major discoveries in the past few years. EXMIN positioned itself in this area in 2006, by staking the Tecolote concession over a known exploration target."
The Target
The East Durango project is located in the center of the Mexican Silver Belt, one of the most active exploration areas in Mexico due to major discoveries such as Penasquito and the nearby ECU property. The property was explored in the 1990's by Laminco and its joint venture partner, Carlin Gold. These companies identified large geochemical soil anomalies for gold, as well as the indicator elements arsenic, antimony and mercury, in an area with geologic characteristics similar to the sedimentary rock hosted gold deposits of Nevada. EXMIN performed reconnaissance mapping and sampling of the property in late 2006.
About Quaterra
Quaterra Resources Inc. is a junior exploration company, listed on the TSX-V (QTA) and AMEX (QMM), focused on making significant mineral discoveries in North America. The Company uses in-house expertise and its pipeline of consultants, prospectors and industry contacts to identify, acquire and evaluate prospects in mining-friendly jurisdictions with the potential to host large and/or high-grade base, precious metal or uranium deposits.

EXMIN and Canarc Resource Finalize Santiago Joint Venture at Batopilas, Chihuahua, Mexico
Tuesday September 30, 12:00 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 30, 2008 -- EXMIN Resources Inc. (EXMIN) (CDNX:EXM.V - News) is pleased to announce the signing of the definitive agreement with Canarc Resource Corp. (Canarc) (Toronto:CCM.TO - News) for a joint venture option on a portion of its 45,000 hectare Batopilas project land holdings. A letter agreement was originally signed in September, 2007. EXMIN has received 15,000 Canarc shares and a payment of US$25,000 as part of the agreement.
Canarc can acquire up to a 75% interest in a 791 hectare portion of EXMIN's Huimayvo concession (hereafter termed the "Santiago Fraction"), which surrounds the 171 hectare Santiago Gold Project, by issuing 15,000 common shares (issued), paying US$25,000 cash to EXMIN after year 1 (paid) and spending up to US$1 million on the project over 5 years. After vesting, Canarc and EXMIN intend to form a joint venture to continue the exploration and development of the Santiago Fraction.
Karl Boltz, Co-founding President, CEO and Director of EXMIN, stated, "We are pleased to finalize the joint venture with Canarc. Exploration work has been delayed due to the spinoff of Caza Gold, but the company is now prepared to aggressively explore the project."
The Target
The exploration target at the Santiago project consists of precious metal bearing epithermal veins within a wider lower grade alteration zone; eight parallel, gold-bearing, quartz-sulfide veins have been identified. Canarc geologists channel sampled three of the eight known veins yielding consistently high grade gold assays, including 30.3 grams per metric ton (g/t) gold over 2.3 metres (m) in the Veta Blanca, 7.0 g/t gold over 5.0 m in the Veta Tajos and 17.7 g/t gold over 2.5 m in the Veta Verde.
One of the prominent alteration zones trends onto the Santiago Fraction being optioned from EXMIN and may represent a high level extension of the high grade gold veins exposed at lower elevations on the Santiago properties. Canarc is undertaking an initial exploration program of geological mapping and rock sampling at the Santiago and newly acquired Santiago Fraction properties in order to delineate targets for drilling.
The Santiago prospect may be related to the regional scale structure that extends northward from the formerly producing Tres Hermanos mine to EXMIN's 100% owned La Verde prospect. Surface sampling by EXMIN along the structural zone exposed on the La Verde concession has yielded values of as much as 7.65 grams per metric ton (g/t) gold and 4% copper over 3 metres, and 5.67 g/t gold and 5.9% copper over 3.4 metres, as well as locally important silver, zinc and lead values. For more information on the La Verde prospect and the Batopilas land holdings, please see EXMIN's news release of October 5, 2006.
Quality Assurance
Rock samples from Canarc were prepared and analyzed by BSI Inspectorate at their labs in Durango, Mexico, Reno, Nevada; gold and silver were determined by fire assay with an atomic absorption (AA) finish.
Samples taken by EXMIN were prepared and analyzed by ALS Chemex at their labs in Mexico and Vancouver and generally consisted of 1-3 kg of material. Gold analyses were performed by fire assay with an AA finish, and silver and other elements were analyzed as part of a multi-element ICP package using an aqua regia digestion.
Dr. Craig Gibson, PhD., Certified Professional Geologist, and Executive Vice President of Exploration is the authorized professional geologist for the Company and the direct manager of all technical programs and information.
About Canarc
Canarc Resource Corp. is a growth-oriented, gold exploration company listed on the TSX (CCM) and the OTC-BB (CRCUF). Canarc is currently focused on advancing its New Polaris gold mine project in British Columbia, exploring the large Benzdorp gold property in Suriname and acquiring attractive gold exploration and mining projects in Mexico. Barrick Gold Corp. is a shareholder.

Vom "Eve of Destruction"
zum day of destruction......

Die Schur ist noch nicht zu Ende......

Und: es wird alle erwischen, so sicher sie sich auch wähnen.....

Die Mischung wird den Unterschied ausmachen

Lesenswert: http://www.amanita.at/d.htm

EGD.V raus zu 2,02. Gekauft zu 1,01.

Jetzt ist endlich alles Rot....

Auch passend: "open the doors of perception...."

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