Resources Investment Trust Share Discussion Threads

[hypocrite] 05/2/2003 11:43

You've all heard I'm sure about Arcon and Ivernia West, the Irish zinc
mines.
They share the Irish discoveries with
Anglo....major stakeholder in Ivernia West......delisted from Dublin exchange
to Toronto...........owns the producing Lisheen Mine.....significant accumulation of losses having reached full production at beginning of zinc bear market............whatever happens here looks like Anglo's call.
Arcon....see Sunday Times article.....since when the minlife has been doubled and the quality of zinc regraded to world's highest (from 12.something to 28)
and rumour that they will quantify amount of silver discovered in same Galmoy
orebody.Generally agreed undervalued...waiting on zinc price.
Tara Mines.....producing mine for Outokumpu outside Dublin for last 25 years.
Other pockets not yet working mines...bula, navan, ennex, minmet etc.
Consolidation looks to be on the cards,
Sort of thought that a company like REI would have an interest in this Irish sector.....maybe zinc is not it's bag???????????
Any comment???
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
The Sunday Times - Business



December 15, 2002

Sharewatch: Zinc price makes Arcon a real punt
Renewed global industrial production could trigger an increase in demand for the metal, says Brendan McGrath



ANYBODY with less than fond memories of Atlantic Resources, Tony O’Reilly’;s late, unlamented oil exploration company, as well as more recent investors in mining outfit Arcon, may want to stop reading now.
Given the number of people who got burned in the Atlantic fiasco back in the 1980s, it is hard to blame investors for steering clear of resource shares. The Irish exploration market is littered with the remnants of shooting stars.

Last week’s crash at Navan Mining and the previous week’s delisting of Bula Resources serve to underline the scale of losses incurred by investors in recent years. However, there is still a case to be made for small exploration companies, purely on the basis of their speculative appeal. Arcon, which has just endured a roller-coaster 12 months, falls into that category.

Arcon’s main asset is the Galmoy zinc-lead mine in Kilkenny, and various exploration licences in the vicinity of the mine. Galmoy was brought into production in 1997 with a planned 10-year life span.

Galmoy’s biggest problem is the price of zinc on world markets. At just over $800 (€788) a tonne, the zinc price is at a 60-year low, although there are tentative indications that renewed growth in global industrial production in 2003 and 2004 will trigger a rise in demand for the metal.

If the price of zinc rises in line with an economic upturn, then the prospects for Galmoy improve immeasurably as recent financial and exploration developments mean that Arcon’s finances are finally in order.

In addition, recent exploration results nearby suggest that the life of the mine could be extended well beyond the remaining five-year production schedule.

Arcon’s crippling $100m-plus debt has been reduced after a restructuring this year which, inter alia, resulted in O’Reilly increasing his stake in the company to more than 71% after underwriting a €28m rights issue.

O’Reilly also bought most of the debt from the banks, who swapped the rest of this debt for a 10% equity stake in Arcon.

If that restructuring hadn’t taken place, Arcon was in real danger of going out of business or being taken over by the banks.

Now Arcon’s only debt is the $20m owed to shareholder O’Reilly, and he is unlikely to make heavy demands on a company into which he is estimated to have pumped more than €100m.


Outlook: The key to Arcon’s future is the price it gets for its zinc over the next few years. Some observers believe that the industry globally needs to cut production further before there is any prospect of a sustained improvement in prices.

Others point to the decision by Outokumpu to reopen the Tara mine as a sign that a recovery is in the offing and that Galmoy will boost production as prices improve.


Verdict: Investing in Arcon requires a great deal of faith in a zinc recovery. The company’s shares have doubled from 2c to 4c in the past few weeks as investors priced in the improved outlook, but further growth will depend on a sustained improvement in the zinc price.

Worth a punt — but only if your nerves can cope with what remains a very speculative investment.

Factfile

Price: 4c
Market value: €63m
Daily volume: 556,000
Share price performance: no change since 31/12/01; -75% since 31/12/00
Major shareholders: Sir Anthony O’Reilly 71.7%
EPS consensus: 31/12/02 -0.5c; 31/12/03 2c
Prospective p/e: not applicable
Risk grade: n/a
Risk ranking: n/a
Website: www.arcon.ie

[energyi] 05/2/2003 11:43

Net Asset Value... of its Ordinary Shares as at the close of business on:
------------------------ t.THT
.4-- Feb. 2003 was --.--p c$ 0.84
.3rd Feb. 2003 was 96.74p c$ 0.64
31st Jan. 2003 was 96.45p c$ 0.65

Thistle Mining (t.THT)

[energyi] 05/2/2003 11:27

H.
Click on the Link at the top of thread

thnx for the List of investments:
... . ....................... .000's .. (05/xx)
SYM...Company........ (listed) Shares . Price.....HI....Lo
xxx . Atlas Mining & Dv (phil) xxx.x ....
OLY . Olympus Pacific.. (can.) xxx.x ...$0.54....1.64..0.34 Can $60% of a US$
THT . Thistle Mining .. (can.) xxx.x ....0.85....0.91..0.20......ditto...
USGL. US Gold ......... (nas.) xxx.x ....0.65....0.79..0.23
SBM.X St. Barbara Mines (aus.) xxx.x ....0.12....0.19..0.12....2 mergers>TSX
ALK.X Alkane Explora... (aus.) xxx.x ....0.38....0.50..0.20
IVW.v Invernia West ... (can.) xxx.x ....0.05....0.17..0.02...Can $60% of a US$
IDO.v Idaho Cons....... (can.) xxx.x ...NOT quoted (yet?)
CER.L Celtic Res....... (ire.) xxx.x .. £1.06....2.00..0.85 (post split)
GTL.L G.T.L. Res....... (AIM.) xxx.x ...£0.18....0.70..0.10
DGO.L Dragon............(AIM.) xxx.x....£0.12....0.40..0.10


BTW it is possible REI has sold part of their holdings in Thistle

[hypocrite] 05/2/2003 11:05

Cal.........can you tell me
who what is CAL
Also
Who what is kitco
Who what is/are Energyi

Questions, questions?????????????????????????
Thanks

[karzy] 05/2/2003 10:03

Thistle up 32% last night on TSE, should help with NAV today.Beartooth might improve when it gets to drill a hole.Cal has a big following on kitco.Energyi says rei are holding an investors meeting this month sowe might get a pickup from that

[hypocrite] 05/2/2003 09:52

BEARTOOTH PLATINUM CORP (IDO.V)
form 8-K
Item 5. Other Events and Regulation FD Disclosure

Beartooth Platinum Corporation (the "Company"), a "small business
issuer," as defined in U.S. federal securities law, filed with
the Commission on March 6, 2002, a current report on Form 8-K
(under the Company's prior name, Idaho Consolidated Metals Corp.)
stating that the Company is a "foreign private issuer" under such
law and accordingly planned to file the reports required to be
filed by foreign private issuers by the Securities Exchange Act
of 1934 (the "Exchange Act"). The Company as a foreign private
issuer filed a registration statement on Form SB-2 to register,
for purposes of re-sale from time to time, certain common shares
held by its security holders, and has elected to continue, as if
it were a domestic issuer, to file the current and periodic
reports which are required to be filed by a such an issuer under
the Exchange Act.

Look up Yahoo Finance....ticker symbol.....IDO.V

[hypocrite] 05/2/2003 09:48

Idaho Consolidated metals primary focus is on Pt-Pd in the Stillwater Complex, Montana.



Idaho Consolidated Metals Corporation IDO (VSE)

Ag, Pb, Zn, Cu and Co Property, Jalisco. A property that has been owned by several prominent ranching and farming families that have previously not allowed mineral exploration on their lands. Target is large skarn and complex sulfide mineralization, perhaps massive sulfide horizon

[hypocrite] 05/2/2003 09:00

SYM...Company........ (listed) Shares ... Price.....HI....Lo
xxx . Atlas Mining & Dv (phil) xxx.x ....
OLY . Olympus Pacific.. (can.) xxx.x ....$0.54......1.64...0.34 Can $60% of a US$
THT . Thistle Mining .. (can.) xxx.x ....0.85.......0.91...0.20......ditto...
USGL US Gold ......... (nas.) xxx.x ....0.65......0.79....0.23
SBM.ASX.. St. Barbara Mines (aus.) xxx.x ....12....19....12....2 mergers>TSX
ALK.ASX... Alkane Explora... (aus.) xxx.x ....0.38...0.50....0.20
IVW. Invernia West ... (can.) xxx.x ....0.05.......0.17....0.02...Can $60% of a US$
CER.L . Celtic Res....... (ire.) xxx.x ....1.06.......2 quid.....85p (post split)
IDO.V. Idaho Cons....... (can.) xxx.x ....NOT quoted (yet?)
GTL.L . G.T.L. Res....... (AIM.) xxx.x ....0.18p.......70p........10p
DGO.L..Dragon.............(AIM) xxxx.x....0.12p.......0.40........0.10p

Update on Portfolio:

.

[karzy] 04/2/2003 14:33

I think Beartooth platinum is one!

[hypocrite] 04/2/2003 13:34

Is the list of investments on their website up to date?????
Is anyone here tracking which are doing well, or treading water, or not doing anything????
The less shyte the better!!!

[karzy] 04/2/2003 11:34

Trust manager bought 175,000 shares last week, a show of confidence or guilty conscience.

[stevie blunder] 04/2/2003 11:06

eh, what news expected exactly?

co'mon, share the gossip!!!

SteveB

[hypocrite] 04/2/2003 09:10

Pricve up 3p on bid...............
94.5p valuation..........
news expected............
ye still have yer shyte!!!

[hypocrite] 31/1/2003 07:33

Ye have yer shyte!!!

[karzy] 30/1/2003 03:33

HIGHLAND PARK, MAYBE!

[energyi] 29/1/2003 23:49

a wee dram, perhaps

[karzy] 29/1/2003 23:03

Thistle mining's Phillipines venture has been placed in the top three of the country's mining projects, 3,000,000 oz resource. I wonder if Willy had a dram to celebrate.

[energyi] 28/1/2003 16:35

They are organising a presentation for late february.
Might be worth contacting the company if you want to go

[hypocrite] 28/1/2003 16:21

How does a company like this have a value of 103p and sell for 64p?????????
Probably because there are good shares in there but some desperate shyte
such as Ivernia....monumental losses....5 Can cents.........
yep!
I reckon 64p is just about what its worth...if that!!!

[karzy] 19/1/2003 16:24

Sent for their annual report. They seemed to do some very good deals on share swaps last yeari.e thistle, but some of their other purchases have taken on a bit of water. Although Caledonia seems to be getting a following on kitco forum and gtl looks like they might get off the ground in Oz. Not sure on Celtic, stopped following it but St.Babara mines shares have risen on merger and drilling results, they could soon have listings in more countries than they have working mines.

[energyi] 19/1/2003 08:15

THE SHOULD HAVE DONE BETTER... Look at Others:

Posted on IHubby: SurfaceProbe
In reply to: None Date:1/13/2003 7:39:50 PM / Post #of 990

Top Dog Fund Manager award goes to John Embry (Canada) for 2002
Royal Precious Metals +153.1%

>

The other prominent manager, Sprott in the fourth place:
Sprott Hedge LP +74.0

Even though the fund is not available to US investors (I checked), to get a glimpse of John Embry's investment philosophy, see the November 20, 2002 article
>

This is what makes the difference, "The second aspect of his investment stance was a decision to buy a number of little followed small-cap producers. These account for about one-third of the 60-name fund, on a weighted basis..." Canada, in his recent comments, is the hotbed for gold stocks. Embry was heavy into SWG Southwestern, which may partly explain the fund's performance vault in the 4th quarter as the fund returned 80.8 per cent for the year ended Oct. 31.

Unlike other fund managers, Embry is not shy telling the world what he thinks. "Mr. Embry encountered some unwanted publicity last June when the media picked up a report he wrote for internal consumption. In it, he pointed to growing evidence of gold price manipulation since 1995. He argued that central banks and so-called "bullion banks" that have been short-sellers have a common, vested interest in keeping the gold price low..." Yes, this is the man. And he often got featured in the ROBTV Market Call programs.

Commented in the November 20, 2002 article, "Going forward, Mr. Embry remains very upbeat on the sector, but has reduced holdings such as Meridian Gold, which he believes have become too expensive." Wheaton River WRM was a "lay-up" at $1. He seems to place a lot of emphasis on people: On December 02, two of his top picks were Orvana ORV, "The Bolivian people know things around" and Kirkland Lake KGI, "decent guys" and Axmin AXM, "buy blind at 22¢, these are the people that found Gator, not terribly promoting itself..."

Forewarned though, Embry is nimble. As fund managers have to deal with redemptions, and precious metals funds were deemed to be risky by many, Embry has to sell those stocks that have shot up to raise cash, and he remarked so with SWG.

Worthwhile to track what he's doing?! You bet. Watch out for him on www.robtv.com as he often got interviewed on the Market Call session. They kept sound files for a week only and no archives, but you need to write to ROBTV to complain as those sound files do not seem to work most of the time.

[karzy] 18/1/2003 23:47

NAV of 103p, share price of 60.75p. No gold rush here!

[energyi] 13/1/2003 11:00

the annual launch???

January 13, 2003

Ocean Resources Will Break New Ground By Offering Exposure To Junior Resource Companies While Paying a Dividend.

Good news. The team that conceived Resources Investment Trust which listed in London early last year is now about to give birth to a new specialist resource investment company called Ocean Resources Capital Holdings. It will not be an investment trust this time as the management wants to break free of the confines that investment trust status brings with it. Thus as an AIM listed company on the lines of the old fashioned mining finance house it will be able to make acquisitions and take a hand in the management of the companies in which it invests.

Most important for investors, it will pay a dividend. The means adopted to ensure this ability is that it is investing in convertible stocks with a 10 or 12 per cent coupon issued by the companies with which it gets involved. The companies, oil as well as mining, benefit from being provided with vital mezzanine finance, while Ocean Resources will be in a position to offer a yield of 6 per cent to investors. This will bring in the institutions who are so often prevented from investing in junior resource stocks because of the lack of income and marketability. .

Naturally this means that the companies in its portfolio are in production, or only a heart beat away, so that cash flow is being generated to pay the coupon. The shares in Ocean Resources can, therefore, also give institutions the opportunity to obtain exposure to smaller resource stocks when they are still at the pre-IPO stage. Already deals worth getting on for £40 million have been agreed with companies to swap shares in Ocean Resources for their convertibles. The shares issued to the companies in return for these convertibles can then be placed with willing institutions, providing vital cash for development of their projects or for further expansion and exploration.

Ocean Resources intends to take anything from 10 to 40 per cent interests in the companies in which it invests, based on the convertible terms of the stocks.. The rechnical advisers are Resource Advisory Partnerships headed by Michael Smith of Investec, and previously JCI and Anglo American, and Anthony Ogilvie Thompson who will be looking for an internal rate of return from projects of around 40 per cent . At first sight this looks pretty ambitious, but given the present price of gold it is merely demanding as many of the projects are likely to be gold or gold equivalent. And the fact that it is able to invest before companies list means that when the value of such an investment rises by, say, 20 per cent at listing, this will be reflected in the price of the convertible.

The intention is to go for a compliance listing at the end of January on AIM, raising only around £200,000 to cover costs. The shares are expected to start listing at 50 p each with a piggy back option arrangement and the appetite of the institutions for the stock with its yield and underlying potential for incremental growth has already been tested..The fledgling company has already done several deals with companies and this means that investors in Ocean Resources will participate in some deals struck at the end of last year when the price of gold was a bit lower.

More will be heard of the company as its advances towards its listing, but the other point worth making is that it will drill into these juniors the need to pay dividends. This will come as something of a shock to many established mining companies, even one as large as Kinross Gold which still sticks to the old adage that investors have to make their income out of capital growth as all surplus cash is required for exploration. Ocean Resources is therefore breaking new ground and is to be commended. In so doing it will help revive the attention paid by generalist funds to the resource sector.

[rambutan2] 08/1/2003 00:08

deutsche have built up a stake in this. the IT player there is pretty good at spotting undervalued trusts and selling them when the market re-rates them. always interesting to see where hes putting his money.