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|BRIGHTON ENERGY - NIGER URANIUM SPIN-OFF
On February 5, 2008, Orezone and North Atlantic Resources announced that they would combine their respective uranium licences in Niger and spin off a new Niger uranium exploration company, Brighton Energy Limited. Brighton will have a combined land holdings of 4,000 km2 in Niger (Figure 1).
Orezone is to transfer its Zeline 1 and Zeline 4 permits to Brighton. These permits are adjacent to Areva's exploration permits and are within 40 km of Areva's Somaïr and Cominak uranium mines. North Atlantic is to transfer its Abelajouad, Assaouas 1 and Assaouas 2 permits to Brighton. These permits are adjacent to and south of Areva's mining and exploration permits. Combined, Brighton will have one of the most prospective uranium licence packages in Niger. The IPO for the new uranium company is expected to be completed in Q1-Q2/08.
This is a positive transaction for Orezone, in our opinion. Both Orezone and North Atlantic have the objective of diluting their interest in Brighten Energy to between 25% and 30% upon completion of the IPO. By spinning off its uranium assets, Orezone is simplifying its portfolio of assets, allowing the company to focus on its core business of gold exploration and development. With the potential to monetize its interest in Brighton in the near future, this transaction should also provide a new source of equity, which could be applied to the equity component of the Essakane project financing.|
|$ 0.370 EVEN
Volume : 60,000 hi 0.37 / lo 0.37
0.35 (150) / 0.37 (145)|
|SUBJECT: Hang in! Posted By: rockknocker
Post Time: 11/6/2007 19:24
Waldie is a well-experienced mining executive and prospector. He moves along at a steady pace and gets things done. Lots going on behind the scenes but it takes time.
I bought big ...35,000 shares...a year ago at the then year low of $1.65. How do I feel? Well, I would rather have had them go the other way or at least stay near the same. Why didn't I sell? Because I know the management and the properties...by the way the gold properties and the oil and gas lease are all in friendly Mali where NAC has great rapport...and firmly believe that given a few months this stock will be moving well ahead and catch up with the othergold juniors currently spurred on and upwards by the rising gold price.
I would buy more at these prices but I am fully committed for my personal portfolio at present. But if I could I certainly would buy more.|
SUBJECT: Great News!!!!! New President for NAC!
Posted By: rockknocker
Post Time: 9/17/2007 12:58
This is really positive news for the future of NAC! Dr. North has resigned as president and is being replaced by long term director Scott Waldie. Dr. North is a great exploration geologist and I have lots of admiration for him, but he just wasn't into the corporate stuff. However, the new president Scott Waldie, a long time director of NAC, has had his hands dirty from underground mining to claim staking to all phases of mineral exploration.
A grad of the Haileybury School of Mines, Waldie has run his own junior resource company and then went into the financing end as a founding principal and mining analyst of a new brokerage firm. Since that time he has been involved with investment counselling and junior resource directorships. Look for great forward moves in NAC under Waldie's leadership over the next several months!
Symbol: "NAC" Toronto Stock Exchange
North Atlantic appoints New President and CEO
Toronto, Canada, September 17, 2007: North Atlantic Resources Ltd. (the "Company") reports that Scott Waldie has been appointed as the President and Chief Executive Officer of the Company. Mr. Waldie has been appointed to fill the vacancy created by the resignation of Dr. Jon North as President, CEO and a director of the Company. Dr. North will provide consulting services to the Company during a transition period.
Lyle R. Hepburn, the Chairman of the Company, stated "We are very pleased to have Scott Waldie step in to the President and CEO position, to lead the Company as it focuses on its core gold exploration projects in Mali. Mr. Waldie has been a director of the Company since inception, and has considerable expertise and more than 30 years experience in mineral exploration and mining finance. We would also like to thank Dr. Jon North for his contribution to the Company over the years."
Mr. Waldie said "I am excited to take on this new role with the Company. Under Dr. North's leadership, the Company's has assembled a truly outstanding portfolio of gold exploration projects. Equally important, we have an excellent team of mineral exploration professionals based in Mali, which enables the Company to explore its existing projects and to identify and pursue potential new acquisitions. We also intend to pursue our strategy of capitalizing on the Company's oil and gas and uranium interests in west Africa."
SUBJECT: RE: hello Posted By: diggler2
Post Time: 11/2/2007 14:18
I bought some today as well. Big time steal @ .54 per share.
UBJECT: RE: hello Posted By: casey13
Post Time: 11/3/2007 2:14:43 PM 14:14
I have a small position here and the shares are very cheap considering all the properties they have and .6 millon ounces of gold but they are very early stage and only have 2 mil in cash. I expect a financing will have to be done soon.|
SUBJECT: John Embry likes it Posted By: Rifler
Post Time: 5/31/2007 12:48
He talks about it (the only recommendation he has in this particular article)in this months issue of Investors Digest of Canada.
He says he is betting that NAC will be successful in redeeming themselves.
SUBJECT: Buy Rating at Blackmount Capital Posted By: monmick
Post Time: 6/12/2007 11:02
North Atlantic Resources
SUBJECT: wizwiz Posted By: rockknocker
Post Time: 6/18/2007 10:32
As I understand there are currently shortfalls in uranium. However, reactors are expensive to shutdown and startup and a guaranteed supply for many years is a factor. Therefore, to keep those reactors going a healthy stockpile would be good not only for each currently active reactor but also for companies planning to go into operation in the next number of years. Uranium is apparently only 5% of the total operation cost of a nuclear reactor and a couple hundred bucks a pound doesn't appear to be as much of a concern as does the chance of running out of reactor fuel. Look what has happened to palladium and platinum required for catalytic converters is autos and trucks. The prices skyrocketed and have remained high (well there has been that switch from platinum to palladium and back to platinum which places some form of ceiling) because several hundred dollars a vehicle isn't too great a cost to pass on to consumers when you consider the overall price of a vehicle especially the SVU's. That's why stockpiling works with the auto companies....if you run out of catalyst you can't produce any cars.
As far as the Niger highjinks with the rebels, see the following press article...this rebellion doesn't appear to be a major thing and companies have been producing uranium for years in Niger which doesn't have the best political stability.
This "rebellion" (more like gang drive-by shootings which frequently occur in larger NA cities!) sure doesn't look like it is going to be a major factor in the long term outlook for uranium exploration and production in Niger. It appears to be just some disgruntled, yet somewhat dangerous, soldiers looking for backpay, better conditions...like our old unions in NA. I think the snakes and malaria and other diseases are more of a concern. All IMHO
In February Casey Research had listed 28 new reactors under construction world- wide, 64 planned with approvals and funding in place, and 158 proposed.
In the short run uranium prices may have gotten ahead of themselves; I wonder how much further the hedge funds will be able push prices of industrial commodities higher. Last week Paul van Eeden was on BNN's "Small Caps" show, he spent some time on a question on uranium, saying that the story has been way overplayed, that we are in a uranium price bubble driven by hedge funds buying up and stockpiling yellowcake. I think that he said the price should be around forty dollars per pound.
He said that he see's much better upside in gold so that is where
he is focusing his investments.
SUBJECT: RE: Question for the Rock Posted By: rockknocker
Post Time: 7/5/2007 19:05
Ah, the summer doldrums...on vacation with da wife and kids, playing golf with "investors" and broker buddies, fishing, sipping a cool one whilst lying back in the hammock...you get it.
I certainly don't think we will see a major move in NAC until they get Selier Energy trading and get some better results on their gold projects in Mali. Late fall or into 2008?? A little boring right now but there is probably ongoing activity that we can't see right now, methinks.
Like I said, I go for the long run...I like the management, the properties and the exploration approaches with virgin Malian gold and oil&gas property plays and the Niger (hope the rebels have had enough excitement for the summer!) uranium play.|
|Orezone and North Atlantic Form Uranium Exploration Company
OTTAWA, ONTARIO, Feb 06, 2008 (MARKET WIRE via COMTEX News Network) --
Orezone Resources Inc. (TSX: OZN)(AMEX: OZN) and North Atlantic Resources Ltd. (TSX: NAC) are pleased to announce the formation of a new uranium exploration company that has a combined land holding of 4,000 km2 in the heart of Niger's uranium production area in West Africa. Orezone and North Atlantic Resources Ltd. ("North Atlantic") will each hold a 50% interest in the new entity to be named Brighton Energy Limited.
Under the terms of the amalgamation, Orezone will transfer to Brighton its wholly-owned subsidiary Niger Resources Inc. which holds two permits (Zeline 1 and Zeline 4) located adjacent to Areva's exploration permits and within 40 km of its SOMAIR and COMINAK uranium mines which have been in production since the early seventies. North Atlantic will transfer to Brighton its wholly-owned subsidiary Selier Energy Niger SARL which holds three permits (Abelajouad and Assaouas 1 and Assaouas 2) located adjacent to and south of the Areva mining and exploration permits and proximal to the Arlit fault, which is the dominant control structure for uranium deposition. All permits host key geological structures and favourable rocks that are known to host or control the mineralization of the producing uranium mines.
See image at:
"Brighton Energy will hold one of the most attractive land packages at the center of the world's fourth largest uranium producing regions", said Pascal Marquis, President of Brighton Energy and Orezone. "We are very pleased to work with North Atlantic in order to build Brighton into a significant player in the uranium sector and add unrealized value to our respective parent companies."
"North Atlantic recognizes that the formation of Brighton Energy will create a dedicated uranium explorer with a significant footprint in the Tim Mersoi Basin of the Republic of Niger. We have been fortunate to work with Orezone and to help create this vision that adds depth to the exploration teams and to streamline operations. North Atlantic lead the first wave of junior uranium exploration in Niger with the acquisition of the Abeladjouad permit in March of 2006 followed with the Assaouas permits in April 2007. The formation of Brighton Energy is an excellent opportunity to continue this strategy of capitalizing on the exploration potential in Niger," said Scott Waldie, President and CEO of North Atlantic.
Orezone is an explorer and emerging gold producer whose main asset is Essakane, the largest gold deposit in Burkina Faso, West Africa. Essakane contains 4.0 Moz of indicated resources and 1.3 Moz of inferred resources at a 0.5 g/t cut-off. Reserves contained within a US$500 gold price mine plan are 2.65 Moz. The deposit remains open and untested below 300m from surface and is surrounded by several satellite deposits. Orezone has a pipeline of developing projects, all located in politically stable areas of West Africa, one of the world's fastest growing gold producing regions. Orezone's mission is to create wealth by discovering and developing the earth's resources in an efficient and responsible manner.
North Atlantic is a Canadian mineral exploration company which has developed a significant portfolio of gold exploration properties in the Republic of Mali, West Africa. Since 2002, the Company has made several gold discoveries including the FT Gold Project ("FT") which is the Company's most advanced gold project, At FT geological mapping, geophysical surveying (IP), trenching and pitting are underway to assist in identifying new drill targets and to optimize infill drilling plans on this 523 km2 property. The present resource calculation at FT includes 241,000 oz. of gold at a grade of 0.95 g/t Au in the indicated category, and 353,000 oz. of gold at a grade of 1.05 g/t Au in the inferred category. North Atlantic's long term vision in Mali is to continue to identify and acquire new gold prospects as we explore and expand our existing projects.)|
|No longer a holder thankfully
RNS this morning warns of accounting irregularities.|
|Well adriand, you're taking it very philosophically. :-)
I find it amazing that I can call it right when I have no money at stake whilst the reverse is also invariably true. :-(
I'm not sure which is the worst.|
Can't say I wasn't warned. only limited damage. Still in profit.|
|I had a car written off recently and when I was in, picking up the contents, I was told by the manager that things are really tough.
As the second hand car market has fallen so much, that loss adjusters are telling the accident centres to write cars off, rather than repair them.
This is really eating into their profits apparantly.
PS it was the 18 year old daughter driving - premium now £1,200 per annum. Ouch.|
Where do you get the sizeable cash balance from? According to ADVFN fundamentals they only had £190,000 cash at 31 Dec 2000.
I would be wary of this type of business. As you say it is very fragmented but I am not convinced that consolidation is imminent.
On the other hand, their customer base (the insurance companies) has become very consolidated and are basically in a position to dictate prices and are increasingly using their muscle to drive them down. I am seeing this in other trades and only just before christmas a friend of mine who is part of a national chain of franchised businesses specialising in house clear-ups after fire, floods and other disasters was called to a meeting with the CGNU where they were given their new charging structure for 2002. Needless to say it was a considerable reduction on what they were earning in 2001 but if they want to keep the business they have no option but to comply.
In addition, to distinguish themselves from their competition, such as it is, the insurance companies like to offer incentives to their clients, courtesy cars for example, which they make the repairer pay for.
Investment is also dictated by the insurance companies. They will tell the repairers exactly what premises and equipment they must have and some it is expensive. This is regardless of how often the kit is likely to be used or whether that particular operation would be more economically sub-contracted out.
I hope that you do well with this company, but keep your eyes open and be careful.
Regards - b|
|This is the old Perry Group.
Strong Balance Sheet. Little goodwill, sizeable cash balance
Net Asset Value - £39.8m; Market Cap £24m
£5m worth of buildings surplus to requirements to be sold "at the right price"
Has 3% of market which is highly fragmented and due for consolidation
Accidents will, unfortunately, always happen
Guiness Peat, Board of Directors agitator has 20% holding
Major Shareholders: (from Hemstock)
26.44m 25p Ords - Guinness Peat Group PLC 20.65%, J O Hambro Capital Mgmt Ltd 16.53%, PDFM Ltd 12.89%, Silchester Intl Inv Ltd 11.64%, FMR Corp & Fidelity Inv Mgrs 8.32%, Deutsche Asset Mgmt 6.87%, NFU Mutual & Avon Grp 3.87%, Value & Income Trust PLC 3.78%, Smaller Companies Inv Trust 3.03%, Other Dirs 0.39%.
Brokers Consenus (all one of him)
Period 01 02
eps p 2.70 6.20
3M change p - -
brokers n 1 1
std dev p - -
growth % -56.0 130
prosp p/e x 30.7 13.4
Been a nice little earner|
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