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Okay Mr. Bentnail,
I will gladly look at the company.
Give me a couple of days,
Big Al
Hi Bentnail,
Can’t find the company. What is the symbol and where does it trade?
Big Al
AL:
I forgot — it is TSX Venture
AL:
Here is a short video as well — http://www.investmentpitch.com/media/608/Xtierra_Inc.__-__TSX.V__XAG/
Good Morning Mr. Bentnail,
Here are some initial observations. I took these off their website.
First of all, the President is, what appears to be rather heavily involved with a number of other organizations.including Conquest Resources. He was the V.P. Exploration of Northgate Exploration. I could not find anything out about Northgate Exploration. There is, of course, a Northgate Minerals but can’t see a Northgate Exploration.
John Kearney, the Chairman has some really good credentials. He has worked with McKillen and obviously continues to do so.
The rest of the officers and directors all have pretty “heavy” credentials.
They all look really great on paper.
they have plenty of cash in the bank, almost $10million against current liabilities of just over $3 million.
The company did loose about$2million for the 6 mo. period and that was due to “share based payments”. In this case, the financial statements show that this amount is a “share based payment reserve”. In this case it is the value of the share purchase options granted to employees.
You might want to read the section in the 6-mos interim financial statements pertaining to the convertible notes and see what you think.
The stock is currently selling for $0.32 so the options and warrants aren’t in the money significantly.
Just a cursory view on my part.
I can’t tell you what to do, but I am not buying this stock at this time.
Best,
Big Al
AL:
Thank you so much for taking the time out of your day to looking at this for me. I will dig deeper to see what I can find out.
Have a super day!!!
This should be headline news ( THE SWISS FRANC TODAY WAS PEGGED TO THE FAILING EURO ) Five minutes before this news broke gold and silver got smacked down… Imagine that !!!! This news should have sent gold and silver to the moon… There are no other safe havens other than gold and silver now… The franc is frankly doomed and is no longer a safe haven !!!!!! Watch what gold and silver does in the near future; Hold on to your pants and enjoy the ride…. TRULY AMAZING WHAT HAS TAKEN PLACE TODAY
Roger’s comment yesterday about Germany’s vote on Merkel, with vote day on September 29th is very important. When world markets see the Germans are tired of bailing, the status quo that Europe’s crisis was somehow over may change very quickly. Just today, UBS’s chief economist Stephane Deo made pointed remarks that the EU’s monetary union was done without fiscal union (gee, you think?). If the rumour of the US government forcing a 2% haircut on loans becomes true — and it certainly could be with last week’s announcement that 17 banks now being sued by the US government for mortgage fraud — this would also certainly set a precedent for other countries to do likewise. If I were a German citizen, and someone told me that my country should continue to bail-out Greece for a 7.5% interest rate, I’d be angry. If someone told me that my country must then take a 2% reduction in interest to only 5.5% interest on that loan, I’d be livid.
The US Post Office is going to default on a retirement program payment the day after Germany’s vote, on Sept 30th. STOP THE PRESSES…as I write this, this issue, which was down-played in popular media all this weekend, now has Postmaster General Patrick Donahoe saying that USPS may be insolvent this time next year. All of this after 1 short month after a near US default and subsequent downgrade.
Did I just sleep in until April 1st???
And as ‘hugo chavez’ says, yes, the Swiss Franc will indeed by begged 1.20 or less per euro. Not a peep on this in major websites, TV news, etc. I guess copy editors feel this bell-weather currency’s value is only of importance to the Swiss. I hope those of you in a forex position with CHF didn’t get whipped too badly on this blackest of black swans.
We’re finally seeing some small mining companies break resistance (Nova Gold, Extorre and some like-others are favorites). This on recent suspicion that some hedge funds might finally be seeing the possibilities in precious metals…even if to them it’s just the latest pump-and-dump scheme.
We’re living in strange and dangerous times, as most of you already believe. In recent comments, I like to caution some of us from “licking our chops” over the anticipated profits we’re expecting, due to vested interests who are very much against precious metals rising. As GATA well knows, there are people who have fought tooth and nail to prevent PM’s from rising. However, the recent news bulletins are just incredible. I can just imagine reading about today, 40 years from now in some history book, with people wondering “why didn’t anyone see it coming?”
We’re at a point where we humans may no longer be able to mitigate the effects of our previous debts, especially by just borrowing more.
I checked the main Swiss TV news programs from the evening before the informal accession of Switzerland to the euro zone(!), and there was a curiously prominent bunch of talk about the U.S. DOJ coming down on Swiss bankers. Looks like they were creating an anti-dollar sentiment so people wouldn”t be so upset with 10% of their Swiss franc wealth destroyed (more to come) the next day.
Watch the Norwegian crown to follow the franc soon, domino to follow. If we don’t stop this nonsense, last station will be the global plastic currency, the dream of the globalist bankster cartel.
Hi Gundhi,
That is really interesting and I did not know about it.
Holy smoke! A global plastic currency – that is pretty scary!
Big Al
Not meaning to predict the exact shape of things to come, just my personal forward-looking speculation, Al.
so the wsj is also reporting on the NOK:
http://online.wsj.com/article/SB10001424053111903285704576558242437761116.html
Interesting, gundhi. It does sound like a subterfuge to take eyes off their decision to peg the franc. Unfortunately, it will probably work to a large extent.
John,
It is as obvious as the nose on my face to me.
Similar to the late 90’s when investment advisers said we were in a new paradigm and income statement fundamentals didn’t matter any more. What a crock.
Some of us saw the downfall coming and switched to hard assets. That was probably the best decision (second to marrying Kathy) that I ever made. I’ve got a hunch you made the same decision.
These aren’t even strange times because the future events are so obvious.
Best,
Big Al
Al, I’m happy to say I bought some physical silver back in 2002 (well, and Canadian/US silver coinage since the 90’s). Alas, I have also made mistakes and missed boats over the years. It’s very satisfying to recall people laughing at silver investors post-Y2K. I remember many people calling for $100 gold and $1.50/oz silver. It’s nice to be vindicated on that. Your decision to switch KER to hard assets prior to that was very courageous…and very intelligent, in retrospect!
Hi John,
I wanted to add one thing about the USPS.
Kathy mentioned that she read that its retirement system was in big trouble and that service was going to be cut back by one day.
I personally don’t follow the USPS because I know it is going to go down and I having been using FEDEX for years. Much more efficient and much more accountable.
Best,
Big Al
In a former life, I worked for a large telecom manufacturer you’d know the name of. Many large companies have unsustainable pension plans, and I watch certain bellwethers like them or an agency like USPS. As I understand it, in 2006 (?), USPS was required to up their pension contributions beyond what would be considered a fully-funded level in private industry. This is part of their complaint about the $5.5 billion payment they won’t be able to make. The reason I don’t buy it, however, is most private pension plans have a very low bar to be considered fully-funded. When we see an institution like USPS getting close to bankruptcy, you have to wonder how close to insolvent the nation is. Of course, as Roger says, things will go on. We’ll probably have a cash-for-junk mail program to keep them going…undoubtedly funded by the masses.
…meant to say, “And as Roger and ‘hugo chavez’ said…..and yes it is being pegged to 1.20 EU, but for some it still might be ‘begged’ to 1.20.
Big Al, Thanks for taking the time to interact with so many of us. As I said to another listener of the Weekend Report, I find it really heartening to participate on this unique website where people with varying viewpoints can exchange their views with candor and civility. And I think you deserve much of the credit for this; your decency comes clearly through in the way you handle this space, and I think you appeal to the better side of people’s natures. BTW, I really appreciate your having Peter Grandich on as a frequent guest not only because he’s so well-spoken and informed, but also because he brings an explicit moral dimension to his commentary. Thanks again!
Good Morning Big E,
Peter is a really good person. I am fortunate to have him as both a friend and colleague.
This website is really great for me personally because it is so educational. I really believe in the concept of strength in numbers. This site proves that concept is so true in that we all learn and become better people because of each other.
Best,
Big Al
German supreme court rules for letting the govt do bailouts by law. On th 29th the german congress sez no and markets go into an uproar globally. The USA postal retirement plan will be covered somehow and the mail will go through. They might cancel saturday service an old discussion. The Swiss imposed CAPITAL CONTROLS SAYING 120.00 IS THE MAX. EXPECT THIS KIND OF DOLLAR ACTION IN THE USA. The mortgage loan reduction thing I believe is just rumor. If they do it the bond markets could tank very quickly but you never know on these things. It seems all goes more wild with each trading day. I did not like the gold correction this morning but it could be just a trading abberation. Watching and expecting hard gold buying pressures this week or next – Traderrog
Trader Rog, I think the correction had to do with a few things. One was a gold flash crash last night or this AM. I believe these flash crashes are programmed to force weak hands or limit orders to get executed immediately. This happens on Option expirations or on margin hikes too.
Flash crashes are really handy because if the exchange allows some of the trades to get executed and not nullified(like 20% and up trades are OK the rest are null) you just got a stock or gold paper for 20% less.
The HFT computers are flash crashing stocks 20% everyday and scooping up a 10-15% instant profit as everyone with a limit order drops their holdings and they pick it up in a minute or less.
I think Cocoa is right, although I’d go still further to say that many institutions seem to think of their gold holdings as a piggy bank, and not an investment. i.e. it’s like the new form of T-bill to them. When they see a buy op or have to shore up capital, such as with the Swiss Franc losing 8% in 1 day, they raid their gold.
The German supreme court ruling is strange…the court said previous loans/bailouts were not unconstitutional by being approved with German parliament debate, but that future ones should involve the (smaller and representative) parliamentary council. What does that mean? If there’s something that should be done differently in the future, then obviously something was done wrong in the past. It sounds like someone got to them (the supreme court members). It’s also interesting that Germany has the “super Congress-like” parliamentary council that can decide to make billions of dollars of loans to junk-rated countries, without any further input from the full parliament or the general populace.
I never gave a whole lot of creedance to ‘One Worlders” as Rog puts it, as I dont’ think humans are smart enough to pull-off such elaborate and total conspiracies. But whether by plan or by accident, these super-parliaments and super-Congresses are scary, because they now have a precedent for existence, and would be very effective in carrying out drastic policy with a “legal foundation” in a given country’s law. Al, where do you keep the barf bags?
HI John,
Couple of comments.
First of all I firmly believe that gold is the new “t-bill”.
Secondly, I agree that I am not sure that humans are smart enough to pull off some type of one world order deal. I know that my buddy, Trader Rog, disagrees as probably does Jay Taylor. But, I agree with you. You live in the house of your dreams and their is always a nicer one up on the hill. You think you are the smartest baby in the nursery and someone comes along and surprises you!
That’s human nature.
Best,
Big Al
Absolutely. I’ve often wondered about the blow back or ‘game theory’ reactions from the best-laid plans. I used to hang out with the Mensa crowd years ago when growing up (I wasn’t in Mensa…I guess they just liked me because I laughed at their jokes…). One thing I learned is that a group of very intelligent people have a universal weakness: They become arrogant. Though in fairness to the guys at Trader Tracks, that doesn’t mean there aren’t some arrogant, so-called leaders out there who may not be willing to try a one-world order…Hitler did it.
Just wanted to say I am very glad to have been a listener to this show for the last couple of years. Rog and Al, you have saved my bacon on a few occasions and have turned me onto a few interesting companies. It probably would be nice to go over some of the companies that you have interviewed or brought up in the past. I think some of the ones I’m am thinking about are:
-Klondex(I think you mentioned these guys)
-Exeter(You do reinterview the staff here-glad I am an OWNER!)
-Clifton Star(I really like Harry, but what the hell is going on over there!)
-Barkerville Gold(seems like on the verge of a breakout year in news and expanded resources lately.)
Hi Cocoa,
Regarding Clifton, I have no idea but I have a call into Harry. I will definitely stay on top of this one.
Regarding Barkerville, I have never owned it or followed it. I met the president a number of years ago and can’t comment on either he or his company.
Regarding Exeter, yep I am an owner and I really like the company.
Klondex, it has been a long, long time since I followed this company.
Thanks much for listening and please keep your comments coming this way.
Big Al
Hi Cocoa,
From another listener:
Hi Al,
I am a loyal listener to your daily report. I would like to know about Clifton Star Resources as you have highlighted this company several times in the past. I believe you also know the CEO Harry Miller personally. This stock has stopped trading as of late July, and there is no news from the company. Their website has been removed, and is under construction. What does all that mean? I look for your opinion on this company.
Thanks.
Julia Sze
My response to Julia,
Hi Julia,
I am trying to track this down right now. I have a call into Harry and I will definitely get back with you.
Best,
Al Korelin
And, Julia’s response back to me:
Hi Al,
I appreciate your prompt reply. I look forward to your update.
Thanks.
Julia
AL / ROGER:
Have you ever heard of Xtierra — if so, what are your opinions of this company? As I have said in the past, I am not a pro by any stretch of the imagination and thus your views are greatly appreciated — from what I can see though, it sounds good.
If I am reading the info correctly, they have 100 million ounces silver (N1 43-101) and feasibility is nearing completion in Q4.
Would you be able to look into this for your listeners? If not, I understand that you are very busy.
Either way, thanks a bunch!!!