Mining Hot List: JAG, PFNO, AEMC, SRGE
Jaguar Mining Inc (USA) (NYSE:JAG), ParaFin Corporation (PINK:PFNO), ARCHER ENTMT MDA CMNS (PINK:AEMC), Southridge Enterprises Inc. (PINK:SRGE)
Jaguar Mining Inc (USA) (NYSE:JAG)
In the last quarter Jag sold 23,307 ounces of gold at an average realized price of $1,648 per ounce in the quarter, $38m not bad at all.
The problem here, the realization of our early warning last year is toxic financing, Jaguar arranged a US$30-million standby credit facility with a group called Renvest Mercantile Bancorp Inc. It carries an 11% interest rate, but also includes significant fees that are incurred upon closing and upon each drawdown. There is also a standby fee for undrawn balances.
Tha means an the effective interest rate for Jaguar is nearly 16%, and interest and upfront payments in the first year amount to $5.3-million.
The good news is if they pay it back it is not dilutive.
Let’s hope the company can make enough to break free of such deals and move forward.
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ParaFin Corporation (PINK:PFNO)
ParaFin Corporation (PINK:PFNO) Jumps around 50% at a time, buy it at 0003 and hang on it has lots of room to go, look for a break of 0006 then this could go as high as 005 mid term.
ARCHER ENTMT MDA CMNS (PINK:AEMC)
AEMC the Indonesian Coal deal, started to see a little volume, slow and steady, last time this went from sub penny to 90c, waiting to see that again.
Southridge Enterprises Inc. (PINK:SRGE)
SRGE is headed to 2c mid term
The Company reported net income of $311,611 on revenues of $942,314 for the period ending May 31, 2012. The results for the quarter represented the achievement of a significant milestone for the Company in its initiation of mineral production at the Cinco Minas facility in Jalisco, Mexico.
Southridge Minerals currently holds a portfolio of mineral properties located in several world-class mining regions of Mexico. The properties include the past producing and flagship property Cinco Minas, along with the Gran Cabrera, Los Compadres, La Esperanza and La Canita.
Heffernan Capital Management
Business Development Director – Private Client Group,
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.
He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
Chinese Society of Economists
American Economic Society
Best Hedge Funds 2013
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