Dear PGM CAPITAL Blog readers, In March 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme, which he started in early 1990, which defrauded thousands of investors of billions of dollars. On June 29, 2009, he was sentenced to 150 years in prison, the maximum allowed. The main reason why Madoff managed to[…]
Dear PGM-CAPITAL blog readers, Today, November 1st 2011, after the bell, Terra Nitrogen Company, L.P. (NYSE: TNH) a mayor producer and distributer of nitrogen fertilizer, reported its Q3-2011, financial results. Highlights: The company reported net earnings of US$128.4 million on net sales of US$203.3 million for the three months ended September 30, 2011. This compares to[…]
Dear PGM CAPITAL Blog readers, On Thursday, October 27 2011, after the bell Canadian Oil Sand Ltd (TSX: COS), (ISIN CA13643E1051), reported its Q3-2011 financial results. Highlights: Cash flow from operations increased 123% to CAD 512 million (CAD 1.06 per Share) in the third quarter of 2011 from the prior year period. Year-to-date, cash flow[…]
Dear PGM CAPITAL Blog readers, On Friday , October 28 2011, after the bell, Southern Copper Corporation (NYSE: SCCO) reported its Q3-2011 financial results. Highlights: Third quarter 2011 sales were US$1,745.9 million, 38.8% higher than the US$1,257.9 million in the Q3-2010. Nine month 2011 sales were US$5,149.4 million, 41.1% higher than the $3,650.5 million in the first nine[…]
Dear PGM CAPITAL Blog readers, On Thursday, October 27 2011, after the bell, Brazilian Steel Maker, Companhia Siderúrgica Nacional (CSN), (BM&FBOVESPA: CSNA3) (NYSE: SID) reported its Q3-2011 financial results as follows: Highlights: Net revenue totaled R$12.4 billion in 9M11, 12% up on the same period last year and a new Company record. In 3Q11, net revenue[…]
Dear PGM CAPITAL Blog readers, Since May of this year, Europe, the Euro-zone and the European Debt crisis are the headline of almost every news media on the planet. Currently the head of state of the 27 European Nations are meeting in Brussels, their 21st meeting in 14 month, on the issue of the Greece[…]
Dear PGM CAPITAL Blog readers, Today, October 26 2011, CNOOC Ltd, (NYSE: CEO, SEHK: 0883), reported its Q3-2011 financial results. Highlights: The total unaudited oil and gas sales revenues of the Company reached approximately RMB46.26 billion for the third quarter of 2011, representing a significant increase of 23.7% year over year. During the period, the Company made[…]
Dear PGM CAPITAL Blog readers, On Sunday October 9th 2011, China Petrochemical Corp., (NYSE: SNP) the nation’s biggest refiner, agreed to buy Daylight Energy Ltd. (TSX: DAY) for C$2.2 billion (US$2.1 billion) in cash, gaining Canadian oil and shale-gas reserves in its largest acquisition this year. Highlights of the deal: The deal for Calgary, Alberta-based Daylight is for C$10.08 per[…]
Dear PGM-Capital Blog readers, After a very bad and dramatic Q3-2011, the selling has continued on the first day of the fourth quarter. Most investors are asking themselves what is going on in the markets, do we have it all wrong, shall we sell everything and go into cash? Or will history prove that this[…]
Dear PGM Capital Blog readers, Since July 22nd of this year we have seen the major global markets based on fear of a default of Greece in a tailspin. As can be seen in below charts, in the first instance Investors run to precious metals like gold, sending the price of Gold to an all time high of US$ 1,920.00 an oz, but[…]