Canaccord Genuity, the firm with roots in Canada’s venture capital business, has aggressively branched out into new markets in recent years. The strategy appears to be bearing fruit. Under the leadership of Paul Reynolds, 51, and CEO since 2007, Canaccord Genuity has used acquisitions and a shift overseas to transform the once Canada- and mining-centric… Continue Reading
Shares in Lucara Diamond Corp. surged nearly 5% today following positive coverage from Norwegian investment firm Pareto Securities, which has a significant following in the shipping and energy sectors. Shares in the Toronto Stock Exchange listed Lucara, which operates the Karowe diamond mine and Mothae development projects, both in Botswana, Southern Africa, reached $2.48 intraday,… Continue Reading
Ecuador has a terrible reputation as a mining jurisdiction, ever since the government there passed a 70% windfall profits tax on metals mined, highlighted by the fact that major miner Kinross abandoned the Fruta Del Norte gold project there last year, which they paid over $1.2 billion for in 2009. So I have no idea… Continue Reading
Here is Richard Chilton, the billionaire founder of Chilton Investment Company, a hedge fund firm that manages more than $6 billion, discussing the formative years of his career on Wall Street. When Chilton was just a small company its founder believed it was going to be a big firm and planned accordingly. This unwavering faith… Continue Reading
Getting a lot of emails from companies lately requesting your consent to stay on their email list? That’s because Canadian Anti-Spam Legislation is changing on July 1, 2014, at which point sending commercial messages to those who have not consented becomes subject to a fine of up to $10 million in this country. The new… Continue Reading
The junior oil company drilling for a big prize in Albania and partnered with energy super major Royal Dutch Shell, Petromanas Energy, put out a news release this morning claiming encouraging logging-while-drilling results at its Molisht-1 well in Southern Albania. The well is located on blocks 2-3, in which Petromanas holds a 25-per-cent working interest and is… Continue Reading
After being halted for all of yesterday, junior Colombian oil producer Petroamerica Oil Corp, and its current friendly takeover target, Suroco Energy, have come up with a stronger bid for Suroco to trump a hostile bid announced by Vetra Holding the previous day. Petroamerica’s offer is now worth $0.80 per share and provides Suroco shareholders with… Continue Reading
The battle continues for junior Colombian oil producer, Suroco Energy, which produces roughly 2500 bopd currently and has a prospective land position in Colombia’s Putomayo Basin in the south of that country. Privately held producer, Vetra Holding, and its special acquisition subsidiary, Vetra Acquisition, have increased their offer for all of the outstanding shares of Suroco Energy… Continue Reading
The competition to acquire Suroco Energy between Petroamerica Oil and VETRA Holding is heating up this morning, with Suroco re-affirming their support for a deal with Petroamerica and calling out VETRA’s questionable tactics to gain support for their bid. According to today’s Suroco release, Vetra is paying a proxy solicitation fee to Investment Advisors who solicit Suroco… Continue Reading
RAB Capital co-founder and Special Situations Fund manager Phillip Richards was interviewed by JT Long of the Gold Report. RAB became well known natural resources investors during the past decade’s commodities super bull market period (2004-2007). Mr. Philips discusses the gold, silver, nickel, vanadium, zinc and oil and gas companies that he owns, including a shared position, Endeavour Mining.… Continue Reading
Investors seeking a passive way to play the out of favour junior resource sector ought to take a look at Kobex Minerals (TSXV:KXM), a firm with some impressive backers which trades for less than its current cash breakup value. On Friday, Kobex announced intentions for a Change of Business, evolving from a mineral exploration play… Continue Reading
James Kwantes of The Vancouver Sun has a new story out on veteran mining executive Randy Turner and diamond exploration in Canada’s arctic. “Turner said Russian diamond exploration experts helped discover Snap Lake with the help of a wooden panning tray made from Siberian pine. Ridges in the pine separate the lighter material from the… Continue Reading
Retired Vancouver Sun white-collar crime reporter, David Baines, who devoted 25 years and 3887 columns to investment related fraud, received an honorary degree from Simon Fraser University yesterday. His advice to the graduates: honesty is black and white. Here is an excerpt from Mr. Baines’ speech: “Over the years, we were able to publicly expose… Continue Reading
This interview is part of special coverage in advance of Sprott’s Vancouver Natural Resources Symposium, July 22-25, 2014. Register here. Few business leaders are as candid about their strategies to create wealth as Rick Rule, the charismatic chairman of Sprott US Holdings, one of the world’s largest investors in natural resources. I called up the… Continue Reading
A new offer has emerged for Suroco Energy that I feel is unimpressive. Suroco signed a friendly agreement with Petroamerica Oil to merge the two small Colombian oil companies in late April, 2014. That deal was expected to close later this month. Then today, VETRA, a private firm which Suroco is partnered with on the Surioriente Block in Colombia’s… Continue Reading
