Welcome To The Golden Band Resources HUB On AGORACOM
Saskatchewan's SECRET Gold Mining Development.
Message: Charts & Comments
From The Alternative Monthly Report Nov. 8
"Report of Security Holdings:
Resolute Funds Limited reports that as a result of dispositions by it on behalf of the Fund of 5,340,000 common shares of Golden Band Resources during the month of October, the Fund held 9,660,000 common shares and 12,000,000 warrants (representing approximately 8.63 % of all outstanding shares of that class) at the end of October."
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00007862
Resolute is keeping its warrants, and selling its shares. Quest Capital (Now Sprott Lending) did the same early on in the bull market, where it participated in a private placement, then held on to its warrants for an extended period. So very likely we are 'early on' in the next phase of development.
Resolute participated in a financing of ~28ยข, and is selling its shares for a higher average. In order for Resolute to pay for its warrants in GBN.V through sales of shares in GBN.V, it would have to sell the majority of its shares obtained in the private placement.
Conclusion: Resolute is very likely to be only a short term interest attempting to profit from short term moves in the gold markets, but not an investor in the company per se.
They're All Scum
"Invictus's ex-subsidiary Stockgroup sued by Euronext
2010-10-22 13:18 ET - Street Wire
by Mike Caswell
Invictus Financial Inc.'s former operating subsidiary, Stockgroup Media Inc., is facing a collection lawsuit in the Supreme Court of British Columbia from Euronext N.V. of Amsterdam. The suit claims that Euronext provided market data to Stockgroup under a March 14, 2008, agreement, but has not received complete payment. The suit seeks the Canadian equivalent of 141,539 euros, which is $201,099."
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aIVF-1770927&
Agoracom's Kondakos Faces New OSC Allegations
"An executive of investing chat site Agoracom is facing new allegations that he intercepted private messages sent between customers on the site so he could gather information about companies in which he personally invested.
The accusation is levelled by the Ontario Securities Commission in a revised statement of allegations filed this week against Agoracom Investor Relations Corp. and two officials, vice-president of operations Apostolis (Paul) Kondakos and company founder George Tsiolis."
Cramer Chats Up Boyd
Sean Boyd of Agnico Eagle discusses how miners have all based their forecasts on ~$900/oz. The point being that we are now well past this price level.
Gold Weekly Analogous
The weekly chart in gold shows a very minor correction as corrections go. For the most part, our price adjustment comes on schedule in terms of weeks, the exception being that we have volatility to the upside. Very probably with options expiry next week, call options contracts expiring in the money will demand physical delivery. The gold price, even in this latest correction is likely to be higher than most expected. I presume that when we get to point '5' in our analogy, that this will be our average price for the next few months. Note that with ~$1500/oz U.S. gold prices, that we are reaching the point where the company obtains 2X over cost in profit. Added point '4' in the ongoing analogy:
supersize: http://www.flickr.com/photos/11747277@N07/5174545751/sizes/l/in/photostream/
$IRX
The discount rate move in the next week or two will be of extreme importance. Even though there may have been the onset of a correction, the discount rate remained steady on the daily charts. This is an indication that intervention is keeping rates from falling further as they must. A negative discount rate will go below bullion lease rates and may upset the price fixing regime on the COMEX.
Very likely the commercial banking sector will have understated its liabilities to the Fed prior to the onset of QEII, thus making demand for short term money on options expiry a chronic condition. A possible negative rate seems likely for December, leading to policy changes for the new year.
If the Fed manages to hold off such a decline and peg interest rates ~.12%, then the likelihood of a Japan-style recession is virtually guaranteed.
supersize: http://www.flickr.com/photos/11747277@N07/5174618855/sizes/l/in/photostream/
http://www.optionsclearing.com/about/publications/expiration-calendar-2010.jsp
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