State Of The Junior Gold Mining Sector ? April 2013 | Gold Silver ...

The junior gold and silver mining sector is going through an extremely tough period. Investors are facing an equally tough challenge in their investment decisions. There is a reason why resource investing is known for having the highest volatility of all sectors.

Where are we in the bear cycle? Is the bottom in or could it get worse? In trying to answer those questions, we rely on the latest data from Casey Research plus a very interesting discussion between precious metals expert David Morgan and talented mining builder Amir Adnani.

The sector in general is beaten up, but especially the junior miners. The following data show the evolution over the past year in bullion vs senior & junior miners (courtesy Casey Research). The junior gold and silver miners are down year-on-year with an amazing 30%, making them the worst performers in and outside the precious metals sector.

As counterintuitive as it seems, it is only in times like these where seeds are being planted for once-in-a-decade future profits. This is how David Morgan looks at the sector:

It is an individual choice to hold only physical or a combination with mining shares. There is more opportunity to build wealth in the mining sector than in physical bullion. There is an incredible opportunity in the junior mining sector right now.

Strategically chosen stocks are the underlying condition. Well managed, well thought through and well financed junior companies are in the position to acquire bullion in the ground, either through economically viable properties or through acquisitions. David Morgan rightfully says that it is not the case for many of the junior miners. He also refers to trusted analysts who point out that half of the companies in the TSX-V could not exist in 2 years.

It is really a separation period of those companies that have good management, projects and assets vs companies that are hoping for that. This separation process will probably continue for a while like that.

The following chart by Casey Research illustrates David Morgan his point. It shows the number of new IPO?s on the TSX-V vs the stocks that are withdrawn. The number of withdrawals from the exchange is for the first time higher than new IPO?s. It indicates that the process of cleaning is raging at full speed.

Additionally, Rick Rule, a very respected resource investor who became a billionaire in the sector, said that only an absolute minority will be among the winners (source). That minority is already bottoming.

We are going back to 1991, a period in time that was characterized by frequent delisting of junior companies. That movement will likely start in the first quarter of 2013. The best 5 to 15% of the juniors and explorers have probably already bottomed although the bottoming process may take an additional period of 6 to 12 months. Occasionally, however, we will witness pretty dramatic escalations, comparable to the best-in-class juniors in 2012.

When Rick Rule refers to ?pretty dramatic,? he really talks about tenbaggers. That is the potential out there for investors willing to spend enough time picking truly the best junior miners.

Meantime, miners need to spend more on exploration as the discoveries are decreasing year-on-year. It has become very tough to find economically viable properties. The number of gold deposits that are 3 mio ounces or more have become much smaller than some years ago. Mining costs are rising as well.

The latter point was also detailed by Casey Research in the following quote and graph:

This tells us in simple terms that the average exploration-stage company, after deducting their liabilities, has very little cash to continue funding their operations. After they pay off all their liabilities, they have only 0.2 cents per share to spend on drilling, for example. By these numbers, a company with, say, 50 million shares outstanding would have only US$100,000 left after its total liabilities are deducted from cash.

A testimonial comes from Amir Adnani, President of junior gold miner Brazil Resources (BRI:TSX.V and BRIZF:OTCQX) and part of the most talented mining builders in Casey?s Next Ten. In his interview with David Morgan, he says that nowadays only long terms trends matter. The time has gone in which excellent news moved a stock. His company is building competitive advantage via acquisitions, asset creation, capital structure, and people. Brazil Resources did more acquisitions in the last 2 years than the years before, given these tough market conditions. No wonder that since the IPO in May 2011, the company?s share price has almost doubled while the rest of the junior sector has been beaten down between 30 and 50%.

David Morgan adds to it that investors on the outlook for tomorrow?s winners should pick out junior miners that are strong in ALL areas of their business. Those companies are scarce.

In closing, it is fair to quote Rick Rule who was spot on to point to the big fallacy of investors:

If you are not doing the work to segregate the wheat from the chaff then get out of the sector. People wanted to be in the sector in 2010 at the market top, and they don?t want to be in the sector 3 years later with the prices 70% off. It is like someone walked in the street and ignored every store that a ?for sale? sign and went to the only store that had the ?full price, no discounts ever? sign. Now is the time to time to buy as we are in a bear market. We sell high in a bull market; we buy low in a bear market.

Disclosure: David Morgan discloses he owns shares of the two companies of Amir Adnani.

Source: http://goldsilverworlds.com/gold-silver-stocks-news/state-of-the-junior-gold-miners-april-2013/

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Budget coming soon, San Bernardino says in bankruptcy court - San ...

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Special Section: San Bernardino

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RIVERSIDE -- Nearly a year after filing for an emergency bankruptcy instead of passing a budget on time, the city will present a fiscal plan Monday that restarts payments to the country's largest pension fund - payments it's controversially skipped since August - its bankruptcy attorney said in court Tuesday.

The California Public Employee Retirement System tried to sue to make the city continue those payments, but earlier cuts now leave available money for CalPERS, said Paul Glassman of Stradling Yocca Carlson & Rauth.

"It's expected the budget will show the city is able to meet cashflow for its operations and also to resume payments to CalPERS," Glassman said. "The approval of the budget is not necessarily the final action... We will continue to work on the budget to improve cashflow by making additional cuts and adding to revenue from the time the budget is approved. "

The plan is for the City Council to study the budget at Monday's meeting, then approve it May 6, he said.

The city's pendency plan - the skeleton budget on which it's been operating - deferred an estimated $34.9 million in obligations, including CalPERS payments, but "assumes resumption of payments in (fiscal year) 2013-14. "

Exactly what resumption of payments means and how much will be

paid back remain to be decided, Mayor Pat Morris said outside the courtroom afterward.

Hiring the financial staff necessary for that budget and making substantial progress on discovery - negotiations over what evidence will be provided to the city's creditors - addressed two of the concerns CalPERS has repeatedly raised, Glassman said.

Other than that and the setting of another hearing for May 7, little has changed since they appeared in U.S. Bankruptcy Court last week, said CalPERS attorney Michael Lubic.

"Generally, I would say I do agree with what Mr. Glassman said," Lubic said. "The progress has been painfully slow - those seem to be the words that people are using these days. "

The delays are understandable, especially because there's been such progress toward cashflow information that CalPERS trusts, Lubic said.

"As you know, in bankruptcy, it's very hard to negotiate until you have information that you know is accurate," he said. "CalPERS continues to believe the city has not devoted adequate resources to their Finance Department. "

Between contract employees and fulltime staff, the city now has 14 people in its Finance Department with plans to hire three more, Glassman said.

"We will ultimately be at full staff, which is 17 people," he said.

That's eight below what CalPERS says a city San Bernardino's size should have - even one not dealing with bankruptcy - and it's small enough that extensive discovery requests weigh down resources, Glassman said.

Discussions about discovery, or what documents and interviews with officials the court will require the city to provide to creditors, took most of the time at Tuesday's hearing.

Three unions seeking to sue the city want to depose city officials to make the case that the city didn't properly negotiate before imposing contracts that lowered take-home pay.

That would include talks with Jason Simpson, who was the city's finance director for the early part of its bankruptcy, said David Goodrich, a lawyer for the firefighters union.

"We are looking for something that would contradict what the city says," Goodrich said, saying Simpson likely has information that current employees the city has agreed to make available likely wouldn't. "... We're not going on a fishing expedition. We just want to hit the key players. Just like the city, the union doesn't have unlimited resources. "

Bankruptcy Judge Meredith Jury said nothing would stop the unions from talking to Simpson on her own, but she warned them not to look for information too far afield from the central issues.

"I am trying to send the message that I don't want you flailing around on things that aren't going to affect the court's opinion on the matter," she said.

The delays are to be expected because the city filed bankruptcy so suddenly - unlike Stockton, it filed under an "emergency" section that didn't require negotiating with creditors first - Morris said outside the courtroom.

But they're costly, at a time when there's little money to spare.

"It's expensive stuff," Morris said. "These people we contract with and use are highly compensated professionals. "

Source: http://www.sbsun.com/news/ci_22987928/budget-coming-soon-san-bernardino-says-bankruptcy-court

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Surf's up: Turbulence tells sea urchins to settle down

Apr. 9, 2013 ? Tumbling in the waves as they hit a rocky shore tells purple sea urchin larvae it's time to settle down and look for a spot to grow into an adult, researchers at the University of California, Davis, Bodega Marine Laboratory have found. The work is published April 8 in the journal Proceedings of the National Academy of Sciences.

"How these animals find their way to the right habitat is a fascinating problem," said Brian Gaylord, professor of evolution and ecology at UC Davis and a researcher at the Bodega Marine Lab. "The turbulence response allows them to tell that they're in the right neighborhood."

Like most shoreline animals, purple sea urchins (Strongylocentrotus purpuratus) have a two-stage life cycle. The young are microscopic, look completely different from adults and drift in the upper levels of the ocean for about a month before settling on a rocky shore and transforming into the familiar spiny adult.

"Once they decide to settle, they attach to a rock and undergo body remodeling into a juvenile sea urchin with spines," Gaylord said.

Over short distances, the larvae can respond to chemical traces in the water, especially substances that might be given off from a rock thick with algae or other food for the growing urchins.

But how do the larvae know they are close enough to the right shoreline habitat to start searching for such signals?

On the California coast, rocky headlands -- the urchins' preferred environment -- are interspersed with long stretches of beach that experience lower levels of turbulence. The larvae don't have the resources to swim for miles along a beach looking for a nice slimy rock, but when carried by currents near a wave-swept rocky reef, the high turbulence tells them to begin a finer-scale search, the researchers found.

Gaylord and co-authors Jason Hodin of Stanford University's Hopkins Marine Station and Matthew Ferner of San Francisco State University used a device called a Taylor-Couette cell to see how urchin larvae responded to being churned by shear forces comparable to those in waves breaking on a rocky shore.

The Taylor-Couette cell consists of one rotating cylinder inside another, with a layer of fluid in between. When the cylinders spin relative to each other, they set up shear forces in the fluid. Scientists more typically use the device for studying fluid dynamics, especially the transition where flows becomes chaotic and turbulence appears.

Gaylord and his colleagues took the urchin larvae for a spin through a Taylor-Couette cell then exposed them to potassium, known to act as a chemical signal that triggers larvae to begin settling.

Larvae that had been exposed to turbulence responded to the chemical signal earlier in development than those that had not -- in fact, they responded at a stage at which it had previously been believed larvae could not settle.

Especially telling was that neither turbulence nor the chemical signal alone promoted settling at this earlier developmental stage.

The experiment shows that the shift from living free in the ocean to living on a rock is a two-step process, Gaylord said. In the first step, exposure to turbulence initiates an abrupt transition to a state in which the larvae are "competent to settle." A chemical signal triggers the second step, actual settlement, and the larvae then complete their transformation into juvenile sea urchins.

It's not yet clear how the larvae detect turbulence, Gaylord said. That might happen through receptors that respond to stretching or flexing. The two-step settlement process might occur in other species that settle on shorelines, he said.

The work was supported by the National Science Foundation and the National Oceanic and Atmospheric Administration.

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Story Source:

The above story is reprinted from materials provided by University of California - Davis.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.

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Journal Reference:

1. Brian Gaylord, Jason Hodin, and Matthew C. Ferner. Turbulent shear spurs settlement in larval sea urchins. PNAS, April 9, 2013 DOI: 10.1073/pnas.1220680110

Note: If no author is given, the source is cited instead.

Disclaimer: Views expressed in this article do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_environment/~3/XLs9nz0bffo/130409145123.htm

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Squeeze more out of your calendar ? Business Management Daily ...

To stay productive, organize your time in discrete chunks.

? Book time for nonwork activities. Un??less you explicitly reserve time for these activities, they might get shunted aside as work encroaches on your private life.

? Know what matters most. Identify those professional activities that advance you toward your goals. Then allot more time for whatever produces goal-driven results. Prune regular activities that fall outside your highest-priority goals.

? Before adding something, subtract something else. Take on new assignments that promise a high ROI and cut away another task so you?re not overstretched.

? Force yourself to shift gears. To make sure you stay on schedule, create non-negotiable commitments that require you to stop what you?re doing and move on.

? Adapted from ?3 Ways to Leverage Your Time to Restore Work-Life Balance,? Elizabeth Grace Saunders.

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Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

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North Korea suspends last project with South, Putin cites Chernobyl

By Christine Kim

PAJU, South Korea (Reuters) - North Korea suspended its sole remaining major project with the South on Monday, after weeks of threats against the United States and South Korea, as Russian President Vladimir Putin said any nuclear conflict could make Chernobyl look like a fairy tale.

Reclusive North Korea's decision to all but close the Kaesong industrial park coincided with speculation that it will carry out some sort of provocative action - another nuclear weapons test or missile launch - in what has become one of the most serious crises on the peninsula since the end of the Korean War in 1953.

Tension has been rising since the United Nations imposed new sanctions against the North in response to its third test of a nuclear weapon in February. Pyongyang has been further angered by weeks of joint military exercises by South Korean and U.S. forces and threatened both countries with nuclear attack.

Putin said conflict on the peninsula could cause greater devastation than the Chernobyl nuclear disaster in 1986.

"I would make no secret about it, we are worried about the escalation on the Korean peninsula, because we are neighbors," he told a joint news conference with German Chancellor Angela Merkel during a visit to a trade fair in Germany.

"And if, God forbid, something happens, Chernobyl which we all know a lot about, may seem like a child's fairy tale. Is there such a threat or not? I think there is... I would urge everyone to calm down... and start to resolve the problems that have piled up for many years there at the negotiating table."

U.N. Secretary-General Ban Ki-moon said North Korea could not go on "confronting" the authority of the Security Council and challenging the international community.

"I sincerely hope that they will fully comply with the relevant Security Council resolutions. This is an urgent and earnest appeal from the international community, including myself."

A senior North Korean official, quoted by the official KCNA news agency, said after a visit to Kaesong that authorities would withdraw North Korean workers and then decide on whether it would continue to operate.

North Koreans attend a rally held to gather their willingness for a victory in a possible war against the United States and South Korea in Nampo, North Korea, April 3, 2013 in this picture released by... more? North Koreans attend a rally held to gather their willingness for a victory in a possible war against the United States and South Korea in Nampo, North Korea, April 3, 2013 in this picture released by the North's official KCNA news agency in Pyongyang on Wednesday. REUTERS/KCNA (NORTH KOREA - Tags: POLITICS MILITARY) ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY. REUTERS IS UNABLE TO INDEPENDENTLY VERIFY THE AUTHENTICITY, CONTENT, LOCATION OR DATE OF THIS IMAGE. THIS PICTURE IS DISTRIBUTED EXACTLY AS RECEIVED BY REUTERS, AS A RVICE TO CLIENTS. NO THIRD PARTY SALES. NOT FOR USE BY REUTERS THIRD PARTY DISTRIBUTORS less? ?

"It will temporarily suspend the operations in the zone and examine the issue of whether it will allow its (continued) existence or close it," KCNA quoted Kim Yang Gon, secretary of the Central Committee of the Workers' Party of Korea, as saying.

KCNA said leaders in South Korea, a major U.S. ally, were "running the whole gamut of intrigues to find a pretext for igniting a war against (North Korea) after reducing the Kaesong Industrial zone to a theatre of confrontation".

Seoul, it said, was trying to "turn the zone into a hotbed of war" against the North.

The North last week barred South Koreans from entering the zone and South Koreans had been leaving the zone gradually in the past week as raw materials and food begin to run out.

Analysts had suggested Pyongyang would continue to allow Kaesong to operate as it accounted for some $2 billion in annual trade, with 50,000 North Koreans working in the zone making household goods for 123 South Korean companies.

It also generates more than $80 million a year in cash in wages - paid to the state rather than to workers.

About 475 South Koreans workers remain in Kaesong. Thirteen factories have stopped operations due to lack of raw materials, according to the South's Unification Ministry.

"North Korea's unilateral decision to push ahead with this measure cannot be justified in any way and North Korea will be held responsible for all the consequences," the ministry said in a statement.

"The Korean government will calmly but firmly handle North Korea's indiscreet action and we will do our best to secure the safety of our people and the protection of our property."

"PREENING, POSTURING"

Bruce Cumings, a historian and author of "North Korea: Another Country", said in a report Pyongyang was behaving to a pattern.

"Nothing is more characteristic of this regime than its preening, posturing, overweening desire for the world to pay it attention, while simultaneously threatening destruction in all directions and assuring through draconian repression that its people know next to nothing about that same world," he wrote.

The zone was the last shared link between the two Koreas as the North cut off three telephone "hot lines" and declared it was tearing up the armistice that ended fighting in the 1950-53 Korean War.

Earlier on Monday, the South's Defence Ministry denied suggestions that a nuclear arms test was imminent in North Korea, saying reported movements around the reclusive country's atomic site were routine, contradicting earlier government comments.

China's Foreign Ministry said it wanted to see nuclear-free peace on the Korean peninsula. Ministry spokesman Hong Lei told a Beijing briefing that China "believes that the only way to realize denuclearization is dialogue among all the parties concerned".

North Korean authorities told embassies in Pyongyang they could not guarantee their safety from Wednesday - after saying conflict was inevitable amid the joint U.S.-South Korean military exercises due to last until the end of the month. No diplomats appear to have left the North Korean capital.

U.S. Secretary of State John Kerry visits Seoul this week and the North holds celebrations and possibly military demonstrations next Monday to mark the birth date of its founder, Kim Il-Sung - grandfather of the current leader, 30-year-old Kim Jong-un.

The turmoil has hit South Korean financial markets, long used to upsets over the North. Shares in Seoul dipped to near a four-month low as the rhetoric prompted selling by foreigners after substantial losses on Friday.

Pyongyang has shown no sign of preparing its 1.2 million-strong army for war, indicating the threats are partly intended for domestic purposes to bolster Kim, the third in his family dynasty to rule North Korea.

But it has moved what appears to be a mid-range Musudan missile to its east coast, according to media reports last week.

Japanese public broadcaster NHK showed aerial footage of what it said were ballistic missile interceptors being deployed near Tokyo in response to North Korea's threats and actions.

Japan in the past has deployed ground-based Patriot Advanced Capability-3 (PAC-3) interceptors, as well as Aegis radar-equipped destroyers carrying Standard Missile-3 (SM-3) interceptors in the run-up to North Korean missile launches.

Japanese Chief Cabinet Secretary Yoshihide Suga declined to comment on the reports.

"Unveiling specific actions by the Self-Defence Forces is tantamount to putting down our cards on the table," Suga told a news conference. "I would like to refrain from commenting."

(Additional reporting by Jack Kim and Ju-min Park in Seoul, Terril Yue Jones in Beijing, David Morgan, Aruna Viswanatha and Mark Felsenthal in Washington, Kiyoshi Takenaka in Tokyo and Alexei Anishchuk in Hanover; Writing by Nick Macfie)

Source: http://news.yahoo.com/n-korea-may-preparing-nuclear-test-report-042700809.html

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Space satellite launch set for 2014 | New Europe

An undated simulated image shows a Galileo type satellite circling earth. The contract for the construction of the first four satellites and several bases on earth was signed in Paris, France, 21 December 2004. The European satellite navigation system is supposed to be assisted by 30 satelites. The Thales version to be built for Turkmenistan could be quite similar. |EPA/esa

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Turkmenistan recently announced plans to launch the first national satellite for late 2014. As per contract signed with the Turkmen government, French company Thales Alenia Space would be involved in the development and construction of the spacecraft, Turkmenistan.ru reported. It was reported that recently Thales, known as a developer and supplier of advanced high-tech aeronavigation equipment for the country's airports since 1991, won a tender in this regard. An article in the Neutral Turkmenistan newspaper states that the company is now entitled to create a Turkmen satellite and control system of the satellite from the Earth, launch it into space, ensure round-the-clock assistance in satellite management within 15 years, and to prepare highly qualified specialists for Turkmenistan in this field. As of now, Turkmenistan services Russian satellite "Yamal", owned by JSC "Gazprom Space Systems." Through this satellite, digital national TV broadcasting and many Russian TV channels are broadcasted in Turkmenistan. Turkmen communication satellite will provide TV broadcasts, radio telephone, telegraph and other types of communication between ground stations, placed at a distance of up to 10,000-15,000 kilometers from each other.

The Turkmen communication satellite will provide TV broadcasts, radio telephone, telegraph and other types of communication between ground stations, placed at a distance of up to 10,000-15,000 kilometers from each other.With the emergence of own satellite, several TV broadcasting channels will increase and it will be possible to use the satellite for international backbone TV broadcasts, integrated information exchange, including distance education and telemedicine. In addition, use of spacecraft will establish high-quality telephone service with hard-to-reach areas of the country and at same time removing the need to lay expensive cables. The usage of the satellite will help to monitor oil and gas pipelines (SKADA system). Another advantage of the satellite is its cost-effective step. Geographical position of Turkmenistan will allow the satellite to act as a transit country in channels broadcasting in Europe and Asia in the presence of the satellite, covering a large area.National spacecraft of the country after being launched into a circular equatorial orbit at 35,786 kilometers distant from ground surface, will "hang" stable over one point of the ground surface.

Source: http://www.neurope.eu/article/space-satellite-launch-set-2014

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