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The Deep, Inner Meaning Of Bank of America's (BAC) TARP Repayment

Fri, 04 Dec 2009 14:19:07 GMT

As expected, Bank of America (BAC) will repurchase its $45 billion TARP preferreds, funded in part by an additional $18.8 billion in "common stock equivalents", $4.0 billion in asset sales, and $1.7 billion in restricted stock issued to employees in lieu of cash bonuses.[More...]

Forget Yesterday, It's All About Jobs

Fri, 04 Dec 2009 13:21:30 GMT

Good morning. Stocks tanked in the last half-hour on Thursday and while the major news outlets attributed the decline to either profit taking or some trepidation in front of this morning's big Jobs report, we'd like to offer a little more substantial reason for the 85 point dive on an otherwise subdued day of trading.[More...]

Fed Balance Sheet Declines By $15 Billion After Improbable Reduction In MBS, Excess Reserves, Monetary Base Hit Record

Fri, 04 Dec 2009 04:14:41 GMT

The Federal Reserve's balance sheet declined by $15 billion to $2,183 billion from the prior week, after the Fed presumably offloaded $2.7 billion in MBS: this is the first time since QE started that MBS holdings have declined. If anyone can tell us just who the idiots are who bought MBS from the Fed (and at what price), and who the even greater idiots are who are supposed to believe this, please send us an email.[More...]

China Will Continue To Drive The Global Economic Recovery In 2010

Thu, 03 Dec 2009 14:38:07 GMT

China isn’t just leading the global economic recovery – it’s lapping the field.[More...]

Interesting Stat: How Much Private Sector GDP Is From Construction And Real Estate?

Thu, 03 Dec 2009 13:15:56 GMT

Back in June, we discussed commercial real estate at length following attendance at a large real estate conference in NYC. Our tone was cautious and one question we wondered about was the percentage of GDP that real estate represents. We actually came across the answer back in August and meant to share then, but didn't get to it. Since the question/topic remains highly relevant to considering the potential negative economic drag from depressed real estate activity, we're sharing now -- the following table is from an 8/28/09 NYTs article, "Construction That Fueled Growth in the Sun Belt Slows":[More...]

Credit Market Overview: Dec 3, 2009

Thu, 03 Dec 2009 12:59:02 GMT

The credit crunch crisis of confidence which we appear to be crawling out of even though the debt and equity markets catapulted themselves higher earlier this year could be similarly argued to be a crisis that started in the credit markets which crunched confidence around the world as it could a collapse in confidence in the value of the securities investors held which corrupted the credit markets causing them to cease funding.[More...]

Grab Some Northern Exposure With EWC

Wed, 02 Dec 2009 21:39:42 GMT

Emerging markets are captivating investors again, but tidy profits aren’t always far away. Placing your bets on well-established global markets can also prove rewarding. That's why we're looking at Canada.[More...]

Unemployment Struggling To Turn A Corner As Job Losses Mount In November

Wed, 02 Dec 2009 21:20:20 GMT

U.S. job losses in the private sector slowed in November but still exceeded economists’ projections, a report by payroll-processing firm Automatic Data Processing (Nasdaq: ADP) indicated yesterday (Wednesday).[More...]

Why Barrick Closed Their Gold Hedge

Wed, 02 Dec 2009 19:15:14 GMT

It sure looks like gold is going to close above $1,200 an ounce today in New York. And large open market purchases from central banks in China, India and Russia are only helping the price surge more. (Just one year ago, some of these same central banks were actually selling gold in an attempt to fill an annual 10,000-ton supply gap.)[More...]

How To Profit From The 'Next' Dubai

Wed, 02 Dec 2009 13:51:42 GMT

The Dubai World default is a matter of only $60 billion – mere peanuts when compared to other elements of the global financial crisis. It’s thus of concern only to those silly enough to invest in real estate there (and the European banks foolish enough to finance it.) For the rest of us, it is a useful reminder that sudden collapses don’t really come out of nowhere – they can be foreseen, and smart investors can plan for them.[More...]

Caledonia Mining 2009 Second Quarter and Half Year Results and Management Conference Call

Tue, 11 Aug 2009 14:59:00 GMT

Caledonia Mining Corporation ("Caledonia") (TSX: CAL)(OTCBB: CALVF)(AIM: CMCL) announces its second quarter and half year 2009 operating and financial results.
The financial results below are reported in Canadian dollars.
(C$ 000's) Q2 2009 Q2 2008 1H 2009 1H 2008 ------------------------------------------------------------------------- Sales from continuing operations 2,364 2,883 2,364 5,387 Operating costs 1,483 1,357 2,571 2,616 Gross Income/(loss) from continuing operations 881 1,526 (207) 2,771 ------------------------------------------------------------------------- Income/(Loss) after tax before discontinued operations (162) (261) (962) 530 Net Income/(loss) for the period after discontinued operations (199) (285) (1,039) 436 Net Income/(loss) per share before discontinued operations, basic and fully diluted ($0.0003) ($0.0005) ($0.002) $0.001 -------------------------------------------------------------------------

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Mitsubishi Corporation Withdraws from Proposed Participation in the Rooipoort and Mapochsgronde Platinum Projects in South Africa

Wed, 01 Jul 2009 12:56:00 GMT

- Caledonia Mining Corporation announces that Mitsubishi Corporation has indicated it does not wish to extend the Agreement relating to a proposed participation by Mitsubishi in the Rooipoort and Mapochsgronde platinum exploration projects in South Africa. Accordingly, the Agreement terminated June 30, 2009 and Mitsubishi will not provide the envisaged exploration funding for the Projects. The Rooipoort and Mapochsgronde properties will continue to remain 100% owned by Caledonia.[More...]

Caledonia Mining Corporation: Blanket Mine Commences Production and Export of Gold

Wed, 06 May 2009 15:46:00 GMT

Caledonia Mining Corporation ("Caledonia") (TSX: CAL)(OTCBB: CALVF)(AIM: CMCL) announces the production and export of approximately 766 ounces of fine gold from the Blanket Gold Mine ("Blanket") in Zimbabwe, following resumption of production in early April 2009.
As advised in the press release dated April 3, 2009, Blanket received the necessary licenses from the Ministry of Finance and the Reserve Bank of Zimbabwe which, under the new Monetary Policy in Zimbabwe, entitle Blanket to export and market its gold bullion to a refiner of its choice at world prices.
Mining activities resumed on April 7, 2009 and milling commenced a day later, after Blanket secured working capital facilities and took delivery of the necessary consumables and spares.

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Caledonia Mining Announces the Imminent Resumption of Gold Mining at the Blanket Gold Mine in Zimbabwe

Fri, 03 Apr 2009 11:56:00 GMT

TORONTO, ONTARIO -- -- 04/03/09 -- Caledonia Mining Corporation is pleased to announce the imminent resumption of gold mining operations at the Blanket Gold Mine in Zimbabwe.[More...]

Caledonia Mining Announces Its Fourth Quarter and 2008 Annual Results

Wed, 01 Apr 2009 23:53:00 GMT

- Caledonia Mining Corporation is pleased to announce its fourth quarter and 2008 annual operating and financial results.[More...]

Caledonia Mining Announces Its Fourth Quarter and 2008 Annual Results

Wed, 01 Apr 2009 23:52:00 GMT

TORONTO, ONTARIO -- -- 04/01/09 -- Caledonia Mining Corporation is pleased to announce its fourth quarter and 2008 annual operating and financial results.[More...]