Endeavour Mining Share Discussion Threads

[energyi] 20/2/2003 13:36

VERY ROUGH NAV CALCULATIONS

.NAV Calculations.. ..... ..... 02/07 .08/31
Cash- Cash &equiv. 3172.0 1.530 4853 13075
Oth.A Other Assets 1026.0 1.530 1570 574
Oth.L Other Liab.s -576.0 1.530 -881 -3693
MNG-- Mining Port. Header 1.000 8217 7172
Mnv-- Not valued.. Header 1.000 19.5 2754
Other Other Port ? 25904 1.000 25904 10727
TOTc$ TotalPort.c$ Sum'd. 1.000 34141 20653
TOT:$ Total NAV c$ 10.000 1.000 39682 30608
TOT:$ Total NAVus$ 10.000 1.530 25936 20005

ShsOS Shares O/S.. 16.000 1000 16000 12491
NAV:$ Net A.V. US$ 10.000 1.000 1.621 1.602
NAVc$ Net A.V.. C$ 10.000 1.530 2.480 2.450

WHAT IS:?
Other Other Port ? 25904 1.000 25904 10727

That's C$25.9 million unknown investments

[energyi] 20/2/2003 10:57

I heard this:
"EDV - for your information EDV owns about 1 million shares of Northern
Empire (NEM), or about 10% of the company. The market does not seem to care
at this point."

From table, above:
NEM.v No.Empire Mn 753.85 0.80 603.1 183.8 0.39 294.0
that is: 753,850 shs, 6/30/02 value was $0.39 vs. $1.35? currently

SHARES:
EDV has about 16mn shares OS, so this would add only pennies

v.NEM / Chart

...
Stornoway, Northern Empire Stocks Higher On Nunuvut Diamond Discovery
Shares of Stornoway Ventures Ltd. and Northern Empire Minerals Ltd. soared on Canada's junior stock exchange Monday after the two small companies announced they had discovered diamonds on Melville Peninsula in Nunavut

[energyi] 09/2/2003 11:07

PORTFOLIO (see Header)
..... SubT.PubRes. ----> SubT 8542.0 7171.7 SubT 7171.8

COMMENT:
While the portfolio has done well (up 19%) from end June,
this has been in a Bull Market for Mining shares (XAU up 6.9%, HUI up 10.9%)
Most of profits have come from Investment Banking transactions

= = = = =
OLD NEWS- But worth capturing...

Endeavour Mining Capital announces first-quarter results and year-to-date guidance
Wed. January 8, 1:34 pm ET

TSX Venture Exchange: EDV
GEORGE TOWN, Jan. 8 /CNW/ - Endeavour Mining Capital Corp. ("Endeavour" or "Corporation") today announced a net loss of US$4.0 million for the three month period ended November 30, 2002, which has been more than fully recovered due to the recent gold market performance. The four month period ended December 31, 2002 management accounts indicate net income of US$1.0 million.
These first-quarter results include the financial performance of Welcome Opportunities Ltd. ("Welcome") following the completion of our business combination in September 2002. As indicated in our press release of November 8, 2002, as a result of restructuring arising from the business combination with Welcome including rationalization of their investments and soft market conditions during the period, the Corporation anticipated reduced earnings during the first-quarter of fiscal 2003.

The Corporation realized gains on investments of US$1.1 million during the first-quarter. However, these gains were offset by unrealized losses on investments held of US$5.0 million. The unrealized losses include a full write- down on the carrying value of the Namibian Minerals Corp. 10% convertible debentures ("NamCo") of US$1.8 million and mark-to-market valuation adjustments on the Corporation's underlying investments. The NamCo write-down resulted from the failure of Namco's controlling shareholder to come to an agreement with NamCo's bank lenders with respect to its financial restructuring.

The mark-to-market valuation losses generated during the quarter are primarily the result of modest declines in the market values of several of our larger merchant banking equity positions. The Corporation remains highly leveraged to these investments which have shown strong performance since the end of the first-quarter. The Corporation's management accounts indicate that during December 2002 the Corporation generated total investment gains (realized and unrealized) of approximately US$5 million.

Endeavour provides its shareholders a distinctly different way to invest in precious metals and mining operations. The Corporation has an aggressive business strategy that, during the current gold market conditions, can result in earnings volatility. Looking forward, we expect our business strategy will provide long-term value for our shareholders.

Endeavour Mining Capital Corp. is a publicly listed mining merchant banking company. The Corporation, established in the Cayman Islands, has its shares listed on the TSX Venture Exchange in Canada. We provide finance to mining companies to fund their project development, strategic initiatives, and growth.

:LINK:

[mikkydhu] 03/2/2003 12:14

Just a few bits from the report, wc:

Invest in mining and metals, with emphasis on gold. Earnings come from interest on loans,facility set-up fees, capital appreciation of investments.

8 months to 31 Aug.02 investment income $11.1m. This related to 48 transactions of which 33 were profitable and 15 generated losses. Three of these transactions generated $9.1m, namely Wheaton, Thistle, Bema.

Emphasise company's access to potentially high return transactions. It seems the business comes in mainly through Neil Woodyer, CEO, who is also a director of Bema, Wheaton, Apollo, EAGC, Dunsmuir.

Maybe more tomorrow when I've sorted out my computers cookie acceptance problems.

A lot to look forward to, I think.

[wobblechops] 03/2/2003 10:44

Cheer's mikkydhu,

Looks positive enough, if by far the bulk of business comes in from NW, does make you wonder the the other investment advisor,s are up to? I also think Co could benifit from somr pr (but then what shareholder dosent).

Cheer's once again mik,

Wobble.

[wobblechops] 02/2/2003 22:06

energyi or mikkydhu,

There's a 2002 report available on their web-site in pdf format could either of you take a look and report back as my comp is playing up?

cheer's in advance,

Wobble.

[energyi] 31/1/2003 00:02

BOT a few at $2.06 yesterday

[mikkydhu] 30/1/2003 13:31

Thanks E and Wobblechops.

I also bought some yesterday! Management does seem to have impressive record and lots of connections.

[wobblechops] 30/1/2003 11:51

mikkydhu,

Jan to July 2002 they made an investment gain of $12.9 mill on a capital base of $10.5 which is pretty good? aswell as dec's $5mill, I think to buy into this you need to believe in the managment's ability and their track record is pretty good.

[energyi] 29/1/2003 09:08

M.
I believe the loss was cleaning up the old Tech portfolio,
left over from previous management

[mikkydhu] 29/1/2003 08:35

To buy this story one has to believe that the loss they reported was a one-off, but that the December earnings will be repeated. The market seems not to be so optimistic about EDV.I take it that the market is unduly pessimistic, and looking at EDV's interests, I guess that is so.

[energyi] 28/1/2003 22:29

Shares outstanding: 15.54 Million... still true? Possibly
$5 million earnings in Dec. alone.
That's $0.30 a share... trades at 7x One Months' EPS

[wobblechops] 21/1/2003 22:20

OK cheers

Wobble.

[energyi] 21/1/2003 22:10

thoughts?
It is probably worth buying below C$2.25

[wobblechops] 21/1/2003 20:08

energyi,

yeah, it was me trying to drum up some interest and find some more info, i know WRM is their biggest play and also there into a LOT of other good gold plays but dont know where to find a complete list? also from jan 02 to june 02 their investment gain was $12.9 mill from a capital base of $10.5 mill, these guys know how to make money, must have the midas touch.
I have also read Mr Giustra made Yorkton into a $3 billon company, would like to think he may do the same for EDV, this could be a good investment long term?
what say you?

all the best,

Wobble.

[energyi] 15/1/2003 21:04

Working on it... Sedar prospectus Link not up
- - -
saw this on the SH-bb:
1st the bad news Qloss of $4mill variuos reasons, mainly one write off.
Note: the exceptional news: The Corporation's management accounts indicate that during December 2002 the Corporation generated total investment gains (realized and unrealized) of approximately US$5 million.:

Thats ONE month (ONE)

go figure, Wobble.

[wobblechops] 11/1/2003 23:02

How can you find a list of their investments?

Thanks in advance.

Wobble

[energyi] 28/12/2002 10:59

Nice move in EDV:
2.69
+0.48 21.72% 109,200 2.69 / 2.26 2.75 / 1.53
...
Not many sellers. Some of the selling today was mine.
Have I sold too soon?
If gold & EDV drop, I will be buying back in

[energyi] 27/12/2002 16:50

Nice pop in WHT /t.WRM today:

WRM - Wheaton River Minerals Ltd. 1.48 +0.18 1.47(79)/ 1.48(486) 1,615,500

This will help boost v.EDV's NAV, I believe

[energyi] 23/12/2002 15:06

EDV is finally moving!
V.EDV - Endeavour Mining Capital Corp. 2.09 +0.20 2.05(6)/ 2.09(15) 17,100

[mr ashley james] 13/12/2002 18:28

Energyi,

I hear Endeavour working on a few deals right now.

I think they set up BGO Julietta Deal with Standard, HypoVereinsbank and EBRD.

Cheers

Ash