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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...]

TSX Venture Exchange Daily Bulletins

Tue, 23 Jun 2009 21:49:00 GMT

VANCOUVER, June 23 /CNW/ -
Upon revocation of the Cease Trade Order, the Company's shares will remain suspended until the Company meets TSX Venture Exchange requirements.
Members are prohibited from trading in the securities of the company during the period of the suspension or until further notice.

[More...]

Cardero Provides Update on Purchase Agreement for Pampa de Pongo Iron Ore Project, Peru

Tue, 18 Aug 2009 20:48:00 GMT

VANCOUVER, BRITISH COLUMBIA -- -- 08/18/09 -- Cardero Resource Corp. is pleased to provide a progress report on the Pampa de Pongo sale agreement with Zibo Hongda Mining Co. Ltd., a subsidiary of Nanjinzhao Group Co. Ltd. Hongda has provided the Company full assurances it intends to complete the purchase of Pampa de Pongo and is diligently working to satisfy the conditions necessary to secure the bank guarantee for the remainder of the purchase price. Hongda is also continuing its aggressive engineering drill program at the site, which is expected to last through September 2009.[More...]

CORRECTION FROM SOURCE: Cardero Receives Initial Mineral Resource Estimate for Pampa El Toro Iron Sands Deposit, SW Peru

Tue, 21 Jul 2009 15:05:00 GMT

VANCOUVER, BRITISH COLUMBIA -- -- 07/21/09 -- The following corrects and replaces the release disseminated today at 9:28 AM ET. In the second paragraph, '6 metres' has been changed to '60 metres'.[More...]

Cardero Receives Initial Mineral Resource Estimate for Pampa El Toro Iron Sands Deposit, SW Peru

Tue, 21 Jul 2009 13:23:00 GMT

VANCOUVER, BRITISH COLUMBIA -- -- 07/21/09 -- Cardero Resource Corp. is pleased to announce that it has received an initial mineral resource estimate for the Pampa El Toro Iron Sands deposit in south-western Peru from SRK Consulting Inc. . Indicated and inferred resources have been defined over an approximate area of 1,595 hectares , and only to a nominal depth of 30 metres from surface, as follows:[More...]

Cardero Grants Incentive Stock Options

Thu, 09 Apr 2009 21:13:00 GMT

- Cardero Resource Corp. - announces that, pursuant to its 2002 Incentive Stock Option Plan, it has granted incentive stock options to a consultant allowing it to purchase up to an aggregate of 225,000 common shares in the capital stock of the Company. The options are exercisable at a price of CAD 1.39 for a period of two years ending April 9, 2011.[More...]

Cardero Grants Incentive Stock Options

Thu, 09 Apr 2009 21:12:00 GMT

VANCOUVER, BRITISH COLUMBIA -- -- 04/09/09 -- Cardero Resource Corp. - announces that, pursuant to its 2002 Incentive Stock Option Plan, it has granted incentive stock options to a consultant allowing it to purchase up to an aggregate of 225,000 common shares in the capital stock of the Company. The options are exercisable at a price of CAD 1.39 for a period of two years ending April 9, 2011.[More...]

Cardero Grants Nanjinzhao Extension to Pampa de Pongo Purchase Agreement

Wed, 18 Mar 2009 13:26:00 GMT

- Cardero Resource Corp. announces that following recent discussions with Nanjinzhao Group Co. Ltd., the Company has granted a request for a limited extension to the USD 10 million deposit payment due March 17th, 2009.[More...]

Cardero Grants Nanjinzhao Extension to Pampa de Pongo Purchase Agreement

Wed, 18 Mar 2009 13:25:00 GMT

VANCOUVER, BRITISH COLUMBIA -- -- 03/18/09 -- Cardero Resource Corp. announces that following recent discussions with Nanjinzhao Group Co. Ltd., the Company has granted a request for a limited extension to the USD 10 million deposit payment due March 17th, 2009.[More...]

Cardero Successfully Produces Bench-Scale Pig Iron From Pampa El Toro Iron Concentrate

Wed, 18 Feb 2009 12:57:00 GMT

- Cardero Resource Corp. is pleased to provide an update on the Pampa El Toro iron sands project, located in the Marcona district, Peru. The Company has now completed its Phase I briquetting work and is currently undertaking the Phase II bench-scale pig iron production program.[More...]

Cardero Successfully Produces Bench-Scale Pig Iron From Pampa El Toro Iron Concentrate

Wed, 18 Feb 2009 12:56:00 GMT

VANCOUVER, BRITISH COLUMBIA -- -- 02/18/09 -- Cardero Resource Corp. is pleased to provide an update on the Pampa El Toro iron sands project, located in the Marcona district, Peru. The Company has now completed its Phase I briquetting work and is currently undertaking the Phase II bench-scale pig iron production program.[More...]

Cardero Resource Corp Announces that Nanjinzhao Makes Early USD 2 Million Payment

Wed, 11 Feb 2009 12:57:00 GMT

- Cardero Resource Corp. - is pleased to provide an update on the sale of Pampa de Pongo iron ore deposit to Nanjinzhao for USD 200 million. Nanjinzhao will commence engineering assessment work immediately and have made an early payment of USD 2 million in consideration of Cardero's cooperation. This work will allow the Nanjinzhao's permitting application to be submitted more quickly. The due dates for the remaining payments of USD 10 million and USD 188 million remain unchanged.[More...]