Lundin Petroleum (LUP:TSX) released their fiscal 2013 numbers (although production was pre-released on January 21st) which saw them produce an average of 32,700 boe/d in the year and make $975.6 million operating cash flow on $1.2 billion of revenue.  However, EBITDA fell from $1.14 billion in 2012 to $960.9-million this year.  Q4 EBITDA fell below… Continue Reading

We appear to be approaching a unique global currency mess. Yesterday evening’s Turkish rate hike reeked of desperation and triggered a powerful pop in thin futures markets: The rally was short lived as we have seen nothing but a deluge of selling in equity futures this morning. Meanwhile, there is a flight to ‘quality’ in… Continue Reading

Encanto Potash (TSXV:EPO) Chairman Gordon Keep anticipates an off-take agreement between his firm and a consortium of India potash importers will be ratified in the first quarter of 2014. Details of the agreement first surfaced in January 2013 and again in June, 2013 on an Indian government Web site, calling for 1.8 to 2 million… Continue Reading

The results from our gold poll are in and they are somewhat surprising: A vast plurality believed that gold would remain rangebound through the end of the year. Meanwhile, barely 1 in 4 poll respondents believed that there would be a bullish end to 2013 for gold. Given that the majority of CEO.CA readers are… Continue Reading

At an emotional press conference barely two days after he was freed from a Russian jail, Mikhail Khodorkovsky vowed Sunday to do all he can to ensure the release of other political prisoners in Russia. The former oil tycoon spent 10 years in jail on what the West considers trumped-up political charges by President Vladimir… Continue Reading

Running out of financial flexibility, Bruce McLeod’s Mercator Minerals (ML:TSX) has agreed to a merger/takeover by Intergeo which is a subsidiary of ONEXIM Group(controlled by Russian oligarch, Mikhail Prokhorov worth an estimated $13 billion).  The deal will see Mercator’s assets get a much needed injection of capital.  Intergeo’s controlling shareholder Daselina (part of ONEXIM) will provide a… Continue Reading

THE CALANDRA REPORT: Subscribe $91 yearly SAN DIEGO — Inovio Pharmaceuticals (INO in USA), a DNA vaccine developer I sidestepped for four years, is having success with a Middle Eastern virus. INO shares are raging today. Inovio’s J, Joseph Kim, via a persistent biz-dev executive, Bernie Hertel, has been on me, professionally, since 2009. Inovio… Continue Reading

Canadian fertilizer producer Potash Corporation (POT) has been flirting with resistance near $33 for the past couple of months. With an open gap up at $37.49 (from the large July gap down on the Russian potash cartel news), the risk/reward is particularly appealing for longs from current levels: Click to enlarge Risk-averse investors can use… Continue Reading

On the west coast of British Columbia, onshore LNG terminals and pipelines to feed those terminals have become a media and political hot potato, with environmentalists increasing the instability of these projects which can cost $50-$60 billion.  In Colombia, Pacific Rubiales (PRE:TSX) announced this morning that they have executed a heads of agreement for a… Continue Reading

Clive Johnson is a big, fast-talking ex-rugby player and one of Canada’s best gold mining executives. The 56-year-old has built back-to-back multi-billion-dollar gold companies. His latest, B2Gold Corp. (TSX:BTO), is one of the few gold producers to have delivered for investors over the past five years. Johnson’s contrarian instincts have served him well in a… Continue Reading

Developments in the potash cartel saga continues as rumours are confirmed that 21.75%-owner of OAO Uralkali, Russian tycoon, Suleiman Kerimov is trying to sell his stake in the company.  The value of the sale is estimated at around $3.5 billion.  This comes after Uralkali left the Belarusian Potash Co (BPC) cartel followed by the Belarusian’s… Continue Reading

By Mich Massaad, Beating The Index I still remember quite well the oil shock we witnessed in 2008; oil hit a record of $147 per barrel and quickly tumbled back down as the economy collapsed. The way events are moving these days, chances are we are about to witness a larger oil shock thanks to… Continue Reading

The Belarusian/Russian potash conflict continues to deepen after the Belarusian government detained OAO Uralkali CEO Vladislav Baumgertner on Monday.  Russia has officially responded to the actions taken by Belarus by ordering Russian oil companies to cut oil exports to Belarus by one quarter.  Uralkali Chairman, Suleiman Kerimov, has been cited by Belarusian authorities as potentially… Continue Reading

OAO Uralkali CEO Vladislav Baumgertner is being detained in Belarus.  Baumgertner is also the Chairman of the Belarusian Potash Co (a trading venture set up by Russia’s Uralkali and Belaruskali and controlled 40% of global potash exports) and is accused of abusing his position after Uralkali shocked the markets by stating it would be quitting the… Continue Reading

US equity markets are experiencing capital inflows from around the world for three fundamental reasons: 1) A strengthening currency 2) Growth on the margin; and 3) Capacity. These three characteristics make US equities as extraordinary as an honest politician, and are the basis of an extremely compelling case for US Growth and Consumption stocks as… Continue Reading