Beiträge von Eldorado

  • Cabo Mining

    Press Release Source:


    Cabo Mining Enterprises Corp.


    Cabo Announces First Quarter Results
    Monday November 28, 5:48 pm ET


    - Its highest quarterly revenue of $8.819 million in the 1ST quarter of 2006, a 20% increase over revenue of $7.339 in the 4th quarter of FY2005 and a 67% increase over revenue of $5.292 million in the 1st quarter of FY2005.


    - Net 1st quarter FY2006 earnings before interest, tax, amortization and stock based compensation of $0.469 million compared to 4th quarter FY2005 earnings before interest, tax, amortization and stock based compensation of $0.094 million and a net earnings before interest, tax and amortization of $0.424 million for the 1st quarter of FY2005.


    - Net earnings after taxes for the 1st quarter of FY2006 of $0.117 million compared to a 4th quarter FY2005 net loss after taxes of $0.575 million and a net earnings after taxes of $0.356 million for the first quarter of FY2005 resulting in 1st quarter FY2006 earnings of $0.004 per share, FY2005 4th quarter loss of $0.003 per share, and FY2005 1st quarter earnings of $0.013 per share.


    - Gross margin percentage for the 1st quarter FY2005 was 17.0% compared with a gross margin of 21.1% in the 4th quarter of FY2005 and 17.8% in the FY2005 1st quarter.


    - Cash from operations, before changes in non-cash working capital items, was $0.336 million for the 1st quarter FY2006 compared to 4th quarter FY2005 cash from operations of $0.023 million and $0.427 million for the 1st quarter FY2005.


    - A current asset balance of $10.32 million and working capital of $4.58 million.


    - Total assets of $22.63 million and total liabilities of $7.28 million.


    "Cabo begins the fiscal year 2006 with strong first quarter revenues," said Mr. John A. Versfelt, Chairman, President & CEO of Cabo Mining Enterprises Corp. "The Company achieved record quarterly revenues of $8.819 million, an increase of $1.480 million or 20% compared to the previous quarter and an increase of $3.528 million or 67% compared to the first quarter 2005. This large increase can be partially attributed to the fact that all of the drilling services companies, acquired by Cabo throughout fiscal 2005, reported a full quarter of earnings under the Cabo banner. Furthermore, the mineral exploration and mining sector in Canada is continuing to improve as a result of strong global demand for all metals. This in turn has lead to an increased demand for drilling services and improved pricing."


    "Gross margin performance of 17% for the first quarter 2006 was slightly lower than the 17.8% in the first quarter 2005 and the 21% in the fourth quarter 2005, but marginally higher than the 16.4% for the full year 2005," said Mr. Versfelt. "Consumable, servicing and maintenance costs continue to drag down margins in our Heath & Sherwood division. In an effort to improve overall margins management in this division has been reorganized and new procedures have been implemented in the first quarter of 2006. Overall, in addition to higher fuel and steel costs, the Heath & Sherwood division continues to experience higher than normal costs primarily due to training of drillers and other operational personnel. However, gross margins and net revenues should improve as the new procedures take effect."


    "Cabo will likely have reduced revenues over the next two quarters as the Company's operations follow seasonal patterns," said Mr. Versfelt. "Past experience shows that business in December and January slows down due to the holiday season and more difficult weather conditions."


    "Quarter to quarter the Company's remained relatively strong. Net earnings per share of $0.004 improved compared to a $0.03 loss for the 2005 fiscal year," said Mr. Versfelt. "After tax earnings, while lower than the first quarter, showed improvement compared to the fourth quarter of 2005 and the annual results for the fiscal year 2005. Management continues to focus on administration cost controls and expects no significant increases in fiscal 2006. However, the development and implementation of our new computerized accounting and management information system is currently being reevaluated. This may lead to some write downs if the company finds it beneficial to change its strategy and implement a more cost beneficial system."


    "As announced in October 2005, Cabo intends to sell its mineral property portfolio to another public mineral exploration company," said Mr. Versfelt. "Subject to approval of the transaction consideration for the properties shall be paid through the issuance of common shares from the purchasing company's treasury. No less than seventy-five percent of these shares shall be distributed to Cabo shareholders on a pro-rated basis upon receipt of regulatory approval. The Company's Board of Directors has received an offer which shall be presented to our shareholders for consideration and if appropriate for approval at the December 15, 2005 annual general and special meeting. Management believes that this event is of significant benefit to the shareholders as they will receive shares in an exploration company while at the same time retaining their shares in Cabo. Cabo will then be able to focus all of its resources on growing the drilling services business. Subject to shareholder approval, the Company will change its name to Cabo Drilling Corp."


    "We believe that with continued strength in mineral exploration and mine development in the Americas, our improved productivity and our determined focus on cost control and improved efficiencies, Cabo should increase its profitability to meet management expectations and provide a good return to our shareholders," said Mr. Versfelt.


    more....


    http://biz.yahoo.com/ccn/051128/200511280299378001.html?

  • Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

    Le Metropole Members,


    By Bill Jamieson
    The Scotsman, Edinburgh
    Monday, November 28, 2005

    http://business.scotsman.com/index.cfm?id=2313142005

    Higher still and higher climbs the price of gold. It closed up late on Friday at $495.70 an ounce in London and was even higher in Hong Kong.

    Since the start of the month, the precious metal has gained almost 9 per cent, and there is growing confidence among traders that it will break $500 before too long.

    This is all deeply embarrassing for our chancellor, Gordon Brown.

    Remember how some six years ago he declared he would sell 60 percent of Britain's gold reserves held by the Bank of England?

    Many suspected the exercise was designed to inspire confidence in the then soon-to-be-launched European single currency. This was because some of the proceeds were to be earmarked for the purchase of euros.

    In due course, Brown sold off 300 tonnes at just $275 an ounce -- close to a 20-year low.

    Roughly a third of the proceeds were then invested in euros - which then proceeded to plummet.

    The gold price did not do much for a time. Now it has enjoyed a stunning rally.

    The result is a stonking loss on those Gordon Brown gold sales. In fact, the Chancellor's disastrous foray into international asset management now looks to have cost the British people some £2 billion.

    One point he could enter in mitigation is that he was not alone in this error. Other European central banks also sold down their gold holdings. There was much conceit around at the time about the coming emergence of the euro as the world's reserve currency.

    Gold, by contrast, was a barbarous relic, one whose presence in the world monetary system had persisted out of superstition rather than logic. And unlike government bonds, it paid no interest.

    But gold has systematically defied all attempts to expunge it from the vaults of the world's central banks and from its perch as a haven of last resort for millions of savers round the world.

    Unlike many currencies, it is universally recognised as a store of value. It is readily accepted in exchange for goods and services. It is an excellent hedge in times of uncertainty and instability. And, again unlike currencies, gold cannot be printed to order to help debt-laden economies off the hook.

    The latest surge is a reminder of gold's powerful global appeal. The recent price strength has been due to continued demand from India and China.

    And it might also reflect, too, anxiety over coming instability in the world's currency markets. Many traders do not trust the burst of strength of the US dollar over the past year. The US currency was widely predicted to fall sharply. Instead, it has been hitting new two-year highs against the euro. Yet the twin deficits problem has not gone away.

    How strange that, despite all rhetorical declarations to drive out gold from the vaults of central banks, its presence persists and, indeed, looks set to increase in central banks vaults across Asia.

    The strength of gold - and its lasting appeal to central banks - is the subject of an informed analysis from fund management group Bedlam (http://www.bedlamplc.com/). I was struck by some outstanding graphic showing how western governments still love gold - euro area governments hold some 39 per cent of official gold holdings and the US 26 per cent.

    All the world's currencies, its says, are now "fiat" money, that is, they lack any intrinsic value so are supported by faith, PR spin and little else.

    There's nothing wrong or, indeed, unusual about this - just so long as politicians and central bankers act prudently and do not flood the world with worthless notes.

    Might the current era of a total acceptance of fiat money be drawing to a close? Asian bankers may prove the key trigger as they seek to diversify out of the dollar. The excessive monetary printing that has already taken place looks set to drive the gold price higher, as are confiscatory, anti-wealth taxes by governments. This is one of the key reasons why gold remains so popular in continental Europe: it is an excellent means of storing wealth without the authorities knowing.

    Bedlam's conclusions are thought provoking. It foresees an unsteady rise, with the possibility of a blowout in 2007-8.

    There are only 153,000 tonnes of gold above the ground and a maximum of 2,500 tonnes a year from mine supply. It sees only a low chance that in 2006 the gold price averages much below $450.

    Modest forecasts suggest a 15-20 per cent gain by end 2006, or more than three times the UK's current government long bond yield. So some diversification into gold may start to appeal. "It is certainly less naive," it says, "than the investment industry's present consensus that government IOUs are a risk-free investment."

    -END-


    All the best,


    Bill Murphy
    Le Patron

  • Das neue Südafrika

    Eskom can't cope, says expert



    An energy expert has warned that the constant power outages in the Western Cape and Gauteng will only get worse. Cape Town - The country's electricity has been exhausted.
    An expert warned on Monday that the demand for electricity is far higher than Eskom's capacity to provide it.


    Cape engineer Andrew Kenny who specialises in energy told FIN24's sister publication Die Burger that the constant power outages in the Western Cape and Gauteng would only get worse in future.


    The country's existing power stations could not cope with the demand for electricity. It was also much too late to solve this problem in the immediate future.



    "The country's electrical resources are now being completely overloaded. More power stations are urgently needed. The dilemma, however, is the time needed to build stations like these. It could take up to eight years to build and commission only one power station," said Kenny.


    He said the whole electricity debacle was not surprising. The country's economy was growing faster than its capacity to provide electricity.


    The electricity supply was supposed to increase by 1.8% if the economy grew by 5%. This was not happening, because there were insufficient power stations such as Koeberg to meet the demand.


    Gas turbines were not a long-term solution as they were too costly to run. These turbines, such as those to be built at Atlantis and Mossel Bay, would alleviate the problem in the short term. Turbines such as these generate 500 kW (kilowatts) of power per unit and could bring relief in the morning and evening peaks.


    "South Africa now needs baseline power stations which could supply electricity to the country for 24 hours a day," said Kenny.


    He added that the problem of power outages would become increasingly worse countrywide.


    On Monday, DA spokesperson on mineral and energy affairs Adv Hendrik Schmidt accused Eskom of poor management and under-expenditure on the necessary infrastructure.


    People in the Cape who had suffered losses due to power outages could institute claims against Eskom.


    Eskom spokesperson Trish da Silva said people and enterprises that had been affected, could institute claims against the power giant or claim from their insurers if they had short-term insurance.


    "The respective insurers will in turn claim from Eskom," Da Silva said.


    Spokesperson for Koeberg power station Carin de Villiers said the station's emergency plan and alarm system would be tested on Tuesday between 10:00 and 12:00.


    The areas affected include Atlantis, Duynefontein, Melkbosstrand, Van Riebeeckstrand, Philadelphia, Bloubergstrand, parts of Table View and the farms around the power station.

  • Juniors aus Kanada

    Excellon Announces Start of Underground Drilling and Initiation of
    Resource Update


    Monday November 28, 4:35 pm ET


    The Platosa Mine began production from the test mining of its 63,400 tonnes indicated resource grading 75 oz/tonne Silver, 12% Zinc and 15% Lead in June, 2005. Production has been ramping up over the last 5 months with more than 16,000 tonnes produced and shipped to the Penoles Naica milling operation to date. Ore is crushed on site, independently sampled by SGS Mineral Services, and sold F.O.B. the mine site to the Naica Mine Division of Industrias Penoles, the world's largest silver producer. Excellon receives payments for the ore shipped every two weeks based on a formula that incorporates tonnage shipped, contained metals, and the transportation, milling and smelting costs.


    The target production rate of 6,000 tonnes/month is expected to be achieved by January, 2006,



    http://biz.yahoo.com/bw/051128/20051128005862.html?.

  • Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

    Gold is only $4 short of $500 and the Dow is not far below 11,000.


    No one seems either jubilant or alarmed. Instead, a sort of stupid
    numbness has settled over investors. All the news, no matter what it is,
    reassures them.


    This attitude of reckless complacency must be a product of the Great
    Moderation. The Fed has proven that it can control the business cycle,
    says Fortune. Over the past 20 years, crises have come and crises have
    gone. Each crisis deftly managed by the Fed and none disturbed the
    underlying tranquility of the world's financial system...or shook
    investors' faith in the people who run it.


    Of course, the confidence is not limited to investors. Ordinary
    householders are now leveraging themselves as if they were Jesse
    Livermores; they are sure that nothing bad will happen.     :D


    "Holiday shopping +22% over weekend," reports the FT. So far this holiday
    season, people are spending nearly a quarter more than they did last. What
    is remarkable about this is that it seems so out of place next to the
    other news items in the paper. Elsewhere, we discover that household
    earnings are falling for the second year in a row (not news to us) and
    that average hourly wages are no higher in 2005 than they were in 1973
    (again, not news to us).


    How can people who earn less spend more? Of course, that is merely a rhetorical question; we already know the answer.
    They do it by going
    further into debt.     They are confident to a fault - unflappable,
    immoveable, almost as if they were dead. While obvious, the fact of it
    bothers almost no one - your editors excepted. The rest of the world
    believes, as Fortune put it: "It is the sheer free-market vibrancy of the
    U.S. economy that will probably be its greatest strength in the decades to
    come."


    But it is our sad lot in life to remind readers that things do go wrong
    from time to time, free market vibrancy or not.


    If the last 10 years have been a period of "Great Moderation," the 10
    years of the late '60s and early '70s must have been a time of "Great
    Extremism."


    There was a, "Stampede out of paper money," reported Roger Eglin in The
    Observer, on the March 17, 1968. "Spurred on by greed, fear, hysteria and
    ignorance, European civilization's seams were creaking.The French threw
    their urbanity out of the window and punched and fought like animals to
    get gold. Men in Throgmorton Street and around the City (London's
    equivalent to Wall Street) were desperately worried."


    They had good reason to be worried; the world's financial system seemed to
    be breaking down. Merchants were reluctant to take dollars; international
    exchanges were blocked. Travelers were stranded without cash.


    "Even having the money with you can still bring problems," Eglin
    explained. "People are getting frightened by the sight of foreign
    currency. The Hilton hotels in Rotterdam and Amsterdam are not changing
    foreign currency for guests, although they will take it for
    bills...'People are no longer prepared to hold money,'" Eglin quoted a
    broker, "It's an expensive process holding gold, but it's a better
    short-term holding."


    "No one wants to tough paper - especially anyone else's - unless he is
    forced to do so. The confidence that props up the international money
    system is being eroded. Once this starts it could spread like wildfire."


    He was referring to non-Americans. Holding gold in the United States was
    still against the law.


    "The mighty dollar," Eglin continued, "once the lingua franca of world
    money, has caught the plague. Dutch bank managers for 10 days have been
    telling their clients to get out of dollars and into guilders or marks.
    One London merchant bank ditched its dollars for marks earlier last
    week.Panic is even creeping in. Last week a London hotel would not take
    payment from a party of Americans in dollars or Swiss francs."


    The years of the Eisenhower administration were calm. Readers will wonder
    what happened to cause such a landslide in confidence. Was not America on
    top of the world in the Johnson Administration, just as it is in the time
    of Bush? Had we no central bank with a genius at its head? Did not the
    U.S. economy vibrate then...as now?


    Again, we only ask the questions because we like the sound of them.


    Then, as now, the United States was increasing spending at a breathtaking
    rate. The war du jour back then was in the jungle, not the desert, but the
    landscape of domestic spending was almost exactly the same as it is today.
    If anything, the dollar should have been stronger then, than it is now. At
    least in the 1960s, voters, householders, and legislators still felt they
    should pay their bills. Lyndon Johnson proposed a 10% tax increase to try
    to bridge the gap between outflow and income. It was rejected by Wilbur
    Mills, head of the House Ways and Means Committee. He wanted guns and
    butter, too, but he knew the taxpayers wouldn't want to pay for them.


    And so, the matter was thrown onto the international financial markets.
    Especially in Europe, people still recalled how quickly things could get
    out of control. In Germany, in the 1920s, the price for a beer rose before
    it had been drunk. Inflation set off a "flucht in die sachwerte" - a rush
    into material things - that was remembered even in the '60s.


    The favorite material thing in such times is gold. Pressure on the gold
    price forced the Nixon Administration to drop the last vestige of gold
    backing for the dollar in 1971. Over the next nine years, the price of
    the yellow metal rose 2,000 percent, and mortgage rates hit 18 percent.


    Eventually, markets settled down. And now, after such a long stretch of
    "moderation," extremism is underestimated, under-appreciated, and
    under-priced. But does this mean that modern Americans will never flap
    again? Again, another rhetorical question.


    More news from our currency counselor. :D

  • Das neue Südafrika

    So im nachhinein, ich habe heute erfahren das man in Simonstown den Marine Stuetzpunkt der Navy frueher 4 Admirale hatte, heute laufen 26 Neger Admirale rum es gibt fast kein Fussvolk das weiss wie man an der Schraube dreht. Wunderbar, das bringt den Rand noch auf 6 Rand zum Euro.
    Das beste ist die meisten koennen gar nicht schwimmen und haben Angst vorm Wasser. :D


    Hoffentlich lassen die den Nuklearreaktor der Strom liefert fuer Slaapstadt nicht ueberhitzen der keine 50 km weit weg ist. 8o


    Das wird eine der besten Fussball Weltmeisterschaft wenn das so weiter geht.

  • Das neue Südafrika

    Wenn Kaffer das Land uebernehmen, nach der Schlagzeile, sorry Schlagloch muesste nun der Rand wieder staerker werden :D:


    Gatvol = die Schnauze restlos voll haben.


    Top stories


    Passengers, airlines 'gatvol' at huge chaos


    2005-11-29


    The Airport Company of SA stands accused of shoddy maintenance at Cape Town International as "gatvol" passengers and airlines vent their fury. Johannesburg - The Civil Aviation Authority wants to know why, in spite of six daily inspections, ;( damage to a main runway at Cape Town International Airport was not noticed in good time to prevent the weekend's massive air chaos.
    Whatever the cause is of the "hole" in a Cape Town main runway, it will do little to appease the thousands of "tired, hungry and gatvol" passengers waiting at airports across South Africa since Sunday afternoon for flights to or from Cape Town.


    The airlines, too, are baying for blood as they struggle to eliminate their huge backlogs of passengers.


    It was revealed on Monday that scheduled maintenance was done on the runway as recently as Saturday night, and again early on Monday morning, hours after the runway was reopened to air traffic.


    Experts said that the "hole" in the runway surface could have led to an aviation disaster and massive loss of life if a fully loaded 747 passenger jet had landed on it.


    While airlines struggled to clear the backlogs after thousands of passengers countrywide were stranded because of airport problems, fingers were increasingly being pointed at the Airports Company of SA (Acsa) and the quality of maintenance in Cape Town.


    No damage to 'suspect' plane


    Malaysian Airlines also reacted angrily to rumours that its 747-400 caused a 5mx6m piece of asphalt to "lift up" on the runway.


    The airline's district manager in Cape Town, Chan Cheong Eu, said that when Air Malaysia's flight landed at Buenos Aires, Argentina, after its flight from Cape Town there was "no damage to the plane".


    He said if it were true that the tail of their jet caused the hole in the ground, "today's news would not have been so simple".


    "In serious cases (where the tail hits the ground when taking off), the aircraft can break in two and cause total disaster," said Chan.


    Asphalt that lifts up, as apparently happened on Sunday, is "dangerous".


    An informed aviation source, specialising in cargo aircraft, commented: "The logical deduction is that the incident happened because of a lack of proper, sustained maintenance.


    Would have yanked off undercarriage


    "If the runway failed when a heavy (Boeing) 747 full of passengers landed on it, the consequences could have been fatal.


    "It probably would have yanked off the plane's undercarriage, making it impossible to steer," he said.


    Rodney James, marketing manager of budget airline 1time, said on Monday that such a hole "does not suddenly appear" and should have been "spotted during routine maintenance".


    Comair's Gidon Novick said it was astonishing that Acsa's managing director Monhla Hlahla had made no comment about Sunday's events.


    "We demand a clear explanation. At present, there are only vague stories. We want to know what happened."


    CAA incident inspector Gilbert Thwala :Dsaid the CAA wanted to determine why the asphalt lifted.


    'Not due to a lack of maintenance'


    "The fact that it was not spotted earlier raises questions about maintenance at the airport," he said.


    Acsa spokesperson Deidre Hendricks confirmed, meanwhile, that work was "recently" been done on the runway, but that it was "routine maintenance".


    Hendricks said the runway was checked six times a day and the "defect was definitely not due to a lack of maintenance".


    Acsa apparently are investigating the possibility that, besides environmental factors, the damage might have been the result of a "take-off, landing or jet-engine ignition" and the "stress this caused on the surface".


    'Tired, hungry and fed-up'


    Passenger Jac Jacobs said his group had to sleep at Johannesburg International on Sunday night.


    "We have been stuck here since Sunday afternoon. Our flight was delayed several times without any reason or apology being offered," he said.


    "We were promised time and again that we would take off soon, simply to be informed a little later that it was still not possible."


    Most airlines hit by 'the hole'


    Jacobs, who was waiting for a Nationwide flight to Cape Town along with 82 other people, said no one from Acsa, which runs South Africa's airports, or Nationwide tried to help the stranded passengers.


    Nationwide was one of the airlines affected by the delays.


    Jacobs said: "They just told us that we were unable to fly and that we should go home.


    "That despite there being three small babies in the group. What alternatives were there at that time of the morning?"


    'Out of our control'


    Nationwide spokesperson Rodger Whittle said his airline couldn't be held responsible for the delayed flights.


    "The situation was out of our control and that is why we didn't organise accommodation or food.


    "We can't afford to compensate people for something that we didn't cause.


    "Some" of our staff worked non-stop for more than 24 hours to keep passengers informed. :D Often the passengers' expectations are unrealistic." :D

  • Cortez Trend - Nevada

    Die sollen mal alle so abfahren wie Atna heute, leider nicht bei mir im Programm, macht nichts da sind andere die auch Freude bereitet haben im Depot. Alles zu schoen um wahr zu sein, man kann sowas nicht glauben, aber bis ende der woche wissen wir ob es mania war.


    Gnight, I sleep well tonight. ;)