Beiträge von Eldorado

  • Juniors aus Kanada

    Erinnert mich an die Piraten und De Motte die ganze Story.


    Upholds Judgment in its Entirety


    Thursday November 24, 10:05 am ET



    VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 24, 2005--Farallon Resources Ltd. (TSX:FAN - News) -


    Issues Order for Aid to Enforce Judgment in Mexico


    Dick Whittington, President and CEO of Farallon Resources Ltd. advises that an appeal by David L. Hermiston of the March 2001 judgment against him for fraud and embezzlement has been denied by the Nevada Supreme Court. The March 2001 judgment has been upheld in its entirety, thereby re-affirming the decisions of the lower court in favour of Summex Explorations Co., Ltd. a wholly owned subsidiary of Farallon (and herein "Farallonsub"). The November 16, 2005 decision of the Nevada Supreme Court is final and conclusive.


    In August 16, 1999, a Second Amended Third Party Complaint was filed against David L. Hermiston in the Second Judicial District Court of the State of Nevada in and for the County of Washoe. The Fourth Claim for Relief alleges that Hermiston breached his fiduciary duties owed to Farallonsub as a director. The Fifth Claim for Relief alleges that Hermiston deliberately and fraudulently misrepresented to Farallonsub that he would acquire certain mining properties in Mexico for the benefit of Farallonsub when he had no such intention and, in fact, intended to use Farallonsub funds to acquire such mining interests solely for his own benefit. The Fifth claim goes on to allege that Hermiston did, in fact, fraudulently use Farallonsub's funds to live on and to attempt to acquire such mining interests for himself. The March 13, 2001 Default Judgment makes a factual and legal determination that each and every allegation of the Second Amended Third Party Complaint is true. The November 16, 2005 Nevada Supreme Court judgment upholds the March 13, 2001 Default Judgment in its entirety and the Trial Court's determination that Hermiston committed fraud.


    Furthermore, the March 13, 2001 Default Judgment ordered that any and all interest(s) that David L. Hermiston and Wilma M. Hermiston, or either of them, may have held or hold in the Mexican mining concessions or claims commonly known as Campo Morado, were to be held in trust for the benefit of Farallonsub. The judgment further ordered David Hermiston and Wilma Hermiston to pay Farallon a total of US$650,000, plus accrued interest, for compensatory damages, and included an Order in Aid of Enforcement of the judgment for use in Mexico. The current ruling confirmed that the Order in Aid of Enforcement of judgment refers to the Campo Morado property, as described in the 2001 judgment. The Company continues to pursue all legal avenues to recover the proceeds of the judgment until paid in full.


    In a related ongoing case in Mexico, Mr. Hermiston continues to allege that he has rights to the Campo Morado claims. As reported in a news release dated September 14, 2004, a writ was filed in the Federal Court of Mexico on September 6, 2004, wherein Farallon is named as a defendant along with 15 other parties, including the Government of Mexico, in a series of claims filed by David L. Hermiston as Plaintiff. In previous lawsuits by the same David L. Hermiston and/or his associates, these types of allegations have been dismissed by courts in Canada, the United States and Mexico, as being without merit and/or deficient for a myriad of substantive and technical reasons. The November 16, 2005 Nevada Supreme Court judgment mentioned above, reinforces the Company's conviction that the allegations in the Mexican lawsuit are equally unfounded and will, in due course, be resolved in Farallon's favour.


    Dick Whittington said: "This ruling, which is final and conclusive, is significant in several ways. First, Mr. Hermiston has now been definitively judged to have committed fraud and secondly, his arguments have once again, been determined to be without any merit. I would like to commend our legal team for doing an outstanding job and look forward to the successful resolution of the civil case in due course. Shareholders can rest assured that we will leave no stone unturned in enforcing this judgment, and they are encouraged to call the Company directly at any time for updates. Unfortunately, while a case is in progress, we are legally limited by what we can say, but we can and will comment on any developments to the maximum extent possible. On other fronts, the recently announced (October 12, 2005) spectacular drilling results at G-9 continue to reaffirm the ongoing discovery potential of the Campo Morado District as a whole; so undoubtedly 2006 will be an exciting year for the Company."


    The full text of the November 16, 2005 ruling from the Nevada Supreme Court is available for viewing on the Farallon's website at farallonresources.com. The original March 13, 2001 ruling of the Second Judicial District Court of the State of Nevada is also included for reference purposes.


    Farallon holds a 100% registered and beneficial interest in the Campo Morado polymetallic (zinc, gold, silver, copper, lead) project, located in Guerrero State, Mexico.


    ON BEHALF OF THE BOARD OF DIRECTORS


    J.R.H. (Dick) Whittington, President & CEO

  • Nevada Pacific Gold Ltd. WKN 929 971 ISIN CA6413981029 NPG

    Interessant, gestern gingen bei mir 25% weg bei 48cents und heute der Rest bei 47 vom gesamten Auftrag.
    Geld/Brief 46-54 cents im moment.
    Da sind ein paar freche dabei. :D


    Bin gespannt wie das heute weiter geht. ?(


    Die restlichen 75% halte ich mal weiter, es kann ein Ueberraschungsei werden wenn News kommen.


    Hoffentlich bald, aber gute bitte !


    Gruss


    Eldo

  • Sterling Mining Company

    Sche...... um ein Cents verpasst, fast im neuen 2.01 Netz X( X(


    Hey big spender ???..... 8o.....


    Ray De Motte is building a local empire as a testament to his ego, buying up real estate, managing businesses as diverse as a taxi service :D and a hotel (in his spare time), and leading his own silver $$ revolution. We know this has prevented De Motte from spending the necessary time on Sterling and the Sunshine, which has resulted in a revolt by major early shareholders and the massive selling of the stock that continues today. We also know that De Motte is making classic mistakes such as losing focus by messing around in Latin America and making plans based on the anticipated silver price .


    Hoert sich so an Ray zieht sich das ganze Plankton rein, anbei eine Aufnahme von mir die man sehr selten beim tauchen bekommt.


    Ein Manta Ray der groesste ueberhaupt, bis zu 9 meter Spannflaeche, sehr selten diese zu sehen.

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

    Wenn dann schon alles Edel Man:


    Wie immer und staendig:



    NOTE: IN NEXT FEW WEEKS, I AM INCREASING 100% FEE FOR WEEKLY NEWSLETTER.
    Thanks & God Bless my account ;)




    SILVER


    .........my next target is $12.80 if it trades above $8.00 for twenty one days. This week silver should be volatile and may remain in the range of .. ?(
    .... I tell you if you give me your money :P


    COPPER


    Today I am putting copper in the third position as it is very important: a lot of short sellers have been stuck in it. A few powerful traders have been buying it continuously and making a big killing. Tuesday will decide the future fate of copper. Any negative trend on this day will be a confirmation that the short, medium and long term top has been formed. Last week I mentioned that the maximum it can go up is $198.80 and I still hold the prediction.


    WAIT FOR MY ALERT ON TUESDAY ON THIS.


    PALLADIUM/PLATINUM


    Once again, I recommend booking profit in both metals. Palladium may make another new high, but not so for platinum.

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

    Sorry, its a long one....but a good read too ;)


    From an interview with John Hathaway, Portfolio Manager, Tocqueville Gold Fund - as posted in Barron's - by Sandra Ward (November 21, 2005)


    For Tocqueville Gold Fund's John Hathaway, gold shares "give you more octane than the metal itself."


    If it's gold you're after, Hathaway, who runs about $550 million in the Tocqueville Gold Fund and another $400 million in separate client accounts, is the man for you.
    ----------------------------------------------------------------------------------------------------



    Barron's: Gold seems to be trying to make another run here. What's your outlook for the price?


    Hathaway: In the very near term, I have no idea. But it is still a bull-market trend, and there are a lot of reasons for that, and we will see higher prices. People shouldn't be surprised to see gold trade in the four digits. 8o


    Q: What's behind the move higher?


    A: There is so much paper around, there are so many financial assets, and it only takes a small diversion from financial assets into gold to push the price higher.


    Q: But what would lead to that diversion?


    A: People are buying tangible assets, and gold is tangible and probably one of the most liquid and, in some ways, the least risky of all the tangible assets.


    Q: There doesn't seem to be a lot of it around.


    A: There is not a lot of it around. If you took one-tenth of one percent of global financial assets and stuck them in gold, you would wind up with a couple of years of mine supply. It is a trade you can't do. But it still gets back to the question as to why people would get more interested in gold, and it's not all based on bearishness. India is getting more prosperous, and Indians like gold. China is getting more prosperous, and the Chinese like gold. More disposable income in Asia definitely helps gold.


    Q: Yet there are bearish factors behind the bull case for gold.


    A: There is an ongoing currency debasing. Look at all the people who were bearish on the dollar a couple of years ago -- they've been slammed because they put their money into the euro. They should have put it in gold. Warren Buffett just took a loss on part of his position in the euro. He was famous for being bearish on the dollar. How did he activate that? He took a 22 billion euro position because the euro was liquid and gold isn't.


    Q: Are you surprised at the behavior of the euro?


    A: Not really. It is a piece of garbage, really. There is no national treasury that stands behind it, but a committee of bureaucrats. Then there's the politics and social issues in Europe. There's a big difference in the growth rate between the U.S. and Europe, and there's a big differential in interest rates between the U.S. and Europe. Gold is going to rise against the dollar and the euro and the yen, which it has been doing for quite a while, but it has been doing it quietly, so most people aren't even aware of it.


    Q: There are still a lot of skeptics on gold.


    A: It's been five years since it's been in a bull market.


    Q: Before that it had been in a bear market for about 20.


    A: These days, the generations are much shorter. Residual skepticism is all over the place, and it is terrific because it gives the bull case longevity. If everybody were on board the way they are with energy, I would have to think of a new investment theme to work on.


    Q: You have written about gold benefiting from a bubble in the U.S. Treasuries market.


    A: The bubble is a reflection of the lack of investment alternatives. It is also a reflection of the perceptions of risk and the notion that Treasuries are a safe haven so they should be priced in a different way. There is so much money sloshing around the system, to the extent it is risk-averse it goes into Treasuries. On the other hand, you have negative real rates throughout the yield curve. Latest 12-month inflation is running about 4.7%. An investor has to go out almost 30 years on the yield curve just to get even. There is so much paper around and returns on assets are so hard to come by that it is driving money in this direction, and that's created the bubble. But these conditions are very favorable for gold.


    Q: So what will focus people's attention on gold?


    A: Hitting $500. That will fixate attention. This has been a stealth bull market. Only years after a bottom has been made do people realize it.


    Q: Hasn't there been a disconnect between the price of gold and gold shares?


    A: Day by day, tick by tick, they don't do the same thing. But if you go back to 1999, which was the bottom of the bear market in gold, gold has gone from $250 an ounce to nearly double that. And the XAU, a benchmark for gold shares that most people use, has gone from the low 40s to around 115. For the last year or so, the shares have underperformed the metal to some extent, but over a period of time and on a historical basis, the shares give you more octane then the metal itself.


    Q: Why are the shares underperforming?


    A: Costs are up so much, particularly for open-pit mines, which use a lot of energy pushing dirt around and hauling it. The cost of building a new mine is up a good 30% over what it was five years ago. So the economics of the industry, even though the price of the commodity is up quite a bit, are essentially just as crappy as they were when gold was at its lows.


    Q: Will consolidation in the industry help that?


    A: Not really. They might help a particular company's business, but it is not going to change the economics. What would change the economics would be a $200-$300 price increase so that gold would then outperform commodities. Gold has underperformed other commodities by about 50% for quite a few years. That tells you oil, copper and a lot of these inputs that gold producers need to get gold out of the ground have outpaced the price of gold. That is a fairly straightforward explanation of why margins have been poor. But there is another factor, and that is it is so easy for a gold company to get money. They have abused their ability to access what has been very low-cost capital by over-issuing shares. The stocks might be 20% higher if so many didn't declare open season on investors by issuing so much new stock.


    Q: Do you take an activist role in that sense?


    A: I'm very vocal about how investor-unfriendly the success of share issuance is. I'm particularly upset with the Canadian investment banks that do these deals.


    Q: What's their defense?


    A: The other side of it is that small companies, particularly the ones that are true exploration companies, are analogous to biotech stocks. They have properties that have potential value, but it takes a lot of money for drilling and exploration and metallurgical testing and feasibility before you actually generate revenues. Basically, they have to pass the hat all the time. Issuing shares is a quick and dirty way to get money, and for smaller companies, it's OK. But I object to any company that has a listing here in the U.S. on the New York Exchange or American Stock Exchange doing "bought" deals [in such a deal, a new-share issue is bought entirely by one underwriter to resell to investors].


    Q: Is there any evidence that raising money has boosted production?


    A: No. We just had a company in yesterday that is a particularly good example of this practice, and if you look at benchmarks like resources per share or ounces of production per share, they have been flat at this company for the last four years. So getting back to your question on why the shares have been sluggish in an environment in which the gold price is going up, it's because costs are way up and these companies issue stock without discipline.


    Q: Haven't some gold stocks been hurt by strength in local currencies?


    A: Certainly the South Africans were hurt because the rand went from something like 13 to the dollar to six to the dollar over a period of a year and a half or two years. That's like cutting the gold price in half. Even though the dollar price of gold has gone up, the rand price of gold is just now getting back to where it was a few years ago. To a lesser extent, strength in the Australian dollar and the Canadian dollar until recently squeezed margins for operations in those countries. But you get around that problem if gold is rising in all those currencies, which it is doing. But we have reached a point where gold isn't really linked to foreign-exchange rates because a lot of people are concerned about paper currencies in general.


    Q: Yet Central Banks have been selling gold.


    A: Central-bank selling fills the gap between supply and demand. They have been selling at steady pace. What they have is an arrangement so their selling is orderly and doesn't spook the market. Under that arrangement, there is a quota system of 500 metric tons a year for five years. The selling is transparent, the market knows it is there, and if the program wasn't in place, gold could easily be $200 or $300 higher. We are in the second year of that five-year agreement, and it is hard to imagine where all that gold is going to come from.


    Q: Who's buying?


    A: They sell it into the market. We keep some of our gold in Switzerland, and I went to the facility where we keep it and basically it was a large refining company. They were melting down bars from the Swiss Central Bank, and at the other end of the production line there were semi-finished gold watch cases and jewelry for China, the Persian Gulf and India. That's where it is going. Central bankers are selling their best asset into the markets and it is going into non-monetary forms, and they will never get it back. They are just bureaucrats and not even held accountable for what they do on a financial basis. It has been such a bad trade for the last five years, you would think that at some point they would begin to say maybe we should hang on to what we have. But again, their general agenda is not to have gold as a monetary asset or at least not talk about it if they have it, because what is still true is that a rising price of gold is not a favorable reflection on public financial policies, monetary and fiscal.


    Q: What's the impact of gold exchange-traded funds on the market?


    A: It is potentially huge. Right now there's about $3.5 billion in gold ETFs, which isn't bad considering the first one came out a little over a year ago. As we discussed, gold shares can be risky, yet gold is not necessarily an investment for those who are risk-seeking or risk-tolerant. Gold is essentially financial insurance. It is non-correlated. It has hundreds of years of history of being non-correlated with financial assets, which means that when financial assets are doing well gold doesn't do well. From 1980 to 2000, that was the case, but in the 1970s and 1930s, gold did very well. What the ETF does is open the door for people who should have exposure to gold. It makes it easy for a college endowment that would never typically open up a commodities account or open up an arrangement with a bullion dealer to own gold. The ETF paves the way for an entirely different class of investors to come into gold, not gun slingers looking for huge returns but people who just want to protect capital, which gold does very well. Eventually, this will do a tremendous amount for the gold price. The more money that comes into the ETFs, the more it is going to create momentum for the underlying commodity. Barclays is trying to bring out a silver ETF, and the Silver Users Association, which includes companies such as Kodak and Dow Chemical, are opposed to it because of concern it is going to take the price up.


    Q: What risks are working in gold's favor?


    A: There is a lot of financial risk in the system. The level of household debt, the housing bubble, the amount of U.S. Treasuries held by foreign central banks, the valuation of the stock market, the overvaluation of the bond market, are all legitimate reasons to be concerned, not that I wish for worst-case outcomes. Secular credit expansions, which is what we had from 1982 through 2000, are often accompanied by an ever-decreasing perception of risk. Frankly, we've been in a bear market since 2000, and people still don't realize it. Yet bear markets have a life of their own, and they really don't end until a certain psychology takes hold and people just hate financial assets.


    Q: Are gold stocks attractive at this point?


    A: One of the problems I have is that a lot of my positions are merging, so I'm forced to go down the food chain and look elsewhere for other things to own more of. Among the big producers, companies such as Newmont Mining [NEM], Gold Fields [GFI], Barrick [ABX] and, to some extent, Goldcorp [GG], aren't really growth vehicles. They can get a little bit bigger, perhaps, but if this Barrick merger with Placer Dome [PDG] goes through, for instance, the company will produce 10 million ounces of gold, and that's more than 10% of the market's annual global production. How much bigger can they really get? This is not a business that lends itself to size in the sense that one company could ultimately become 30% or 40% of the market.


    When you are mining that much gold, you have to replace it every year, and if these guys can just replace what they produce and replace it with high-quality ounces, and keep their costs in line, they are doing a great job. They become perpetual options on the gold price. Newmont, for instance, should just say it will be a seven-million-ounce producer for the next 15 years, and that would create a certain instrument in the market- place, which is a long-dated option on the gold price with a very low cost of capital.


    Q: What about the smaller companies?


    A: On the other end of the spectrum are the pure exploration companies that are out there trying to find new reserves, and as the gold price goes higher, the Newmonts and Barricks of the world will be compelled to buy the junior names. We manage our portfolios by owning the best of the large companies that have this long-option characteristic to their shares and the best of the small-cap names where value can be created without the price of gold rising necessarily.


    Q: What junior producers are attractive?


    A: I want to be careful to list companies that are reasonably liquid. We own something called Yamana Gold [AVY], which has a very nice growth profile. They are in Brazil and have a great land package. It's got 190 million shares trading at 4.


    Q: Are you expecting more upside?


    A: Yes. They have a fairly well-defined ramp-up of growth in the next five years, and that is something that we look for. We also like Ivanhoe Mines [IVN] a lot. There are 300 million shares outstanding, so it has a $2.4 billion market cap. They have a huge discovery in Mongolia. Ivanhoe has a world-class copper discovery that just keeps getting bigger and has the potential to match Freeport McMoran's [FCX] big copper property in Indonesia in terms of its size. It is right near the Chinese markets, and it is economically very significant.


    Q: Any others?


    A: A third one is Eldorado :D [EGO]. It's an emerging producer with assets primarily in Turkey, which is geologically a very good place to be. It hasn't been picked over the way some areas have. It is not really a Third World country in that it has got First World infrastructure.


    It's got a billion-dollar market cap. Basically, what we look for is production ramping up so there is some growth component and prospective acreage and land packages allowing for more discoveries.


    Q: Thanks, John.

  • Sterling Mining Company

    Es gibt nur ein Ja oder Nein bei zwei Punkten bei der Abstimmung am 21.Dezember.


    Leider kann man zu Punkt zwei der Firma nicht vorschreiben in welchen Tranchen die Aktien auf den Markt kommen ebenso nicht zu welchen Preis man diese anbietet.


    Stimmt man mit Ja kann hat die Firma freie Hand und koennte dadurch den Aktienkurs noch mehr runter fahren als er schon ist.


    Ein Ja ist eine Sache des Vertrauens in Ray De Motte.


    Also mir wuerde es stinken wenn irgend ein Hedgefund die Private Placements fuer 2.20 USD bekommt und uns dann spaeter eine auf die Ohren haut wenn die Kasse klingelt und verkauft die Aktien wieder auf den Markt.
    Da koennen sich ein paar Leute die Haende reiben und das ist mir eben zu gefaehrlich so ein Buddy to Buddy deal ist moeglich.
    Wo Rauch ist da ist auch Feuer, sorry Ray. :(
    Ich stimme deshalb ein Nein zu Punkt 2 der Agenda.


    Der Audit ist wichtig, ganz klares Ja fuer Punkt 1.


    Below is the agenda:


    P R O P O S A L (S)


    01 TO CONSIDER AND VOTE UPON APPOINTING WILLIAMS & WEBSTER, PS.
    TO PERFORM THE 2005 YEARLY FINANCIAL AUDIT.



    02 TO CONSIDER AND VOTE UPON AN AMENDMENT TO THE COMPANY'S
    ARTICLES OF INCORPORATION TO INCREASE THE AUTHORIZED CAPITAL


    STOCK FROM 20,000,000 (TWENTY MILLION) TO 40,000,000 (FORTY


    MILLION) COMMON SHARES OF THE PAR VALUE OF $0.05.