 Resource Opportunities is a subscriber supported publication dedicated to providing objective commentary on the resource industry.
Lawrence is a geologist, with engineering and business training, and more than 20 years of hands-on experience in the resource industry. After completing his studies at the University of British Columbia in 1975, Mr. Roulston worked as an analyst for the major mining company Cominco Ltd. He also worked in a management role for several years with a mid-sized Calgary oil group. In 1984 he became the vice-president of a group of mineral exploration companies. He was also vice-president of an investment management firm focused on the resource industry. From 1994 to 1997, he was president and CEO of a mineral exploration company. Since then, he has been a resource industry consultant and independent mining analyst. He began writing Resource Opportunities in 1998.
Lawrence conducts frequent property visits as part of his due diligence and has toured mining and exploration projects in many parts of the world. He has also served as an expert witness in litigation regarding mining investments. Lawrence is frequently quoted and interviewed in the media, including national television. He has spoken at mining and investment conferences around the world.
Mr. Roulston's years of hands-on experience and extensive personal contacts in the industry provide unique insights that have generated an impressive track record for Resource Opportunities.
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Aurcana and accelerated warrants:
Question:
I am looking at an entry point for purchasing Aurcana. I noticed that today, the company issued an announcement that the company is accelerating the expiry of the warrants, which means that the warrants have to be exercised by June 23rd. I am not sophisticated in these matters, but my understanding is that when people start exercising their warrants (and presumably cashing out), the price of the stock starts falling. Is this correct? If so, then it would seem advisable to wait until after June 23rd in order to pick up some stock.
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A Tale of Two Markets - October 18, 2006
There is a growing divergence between the physical metal markets and the paper markets for the metals.
The following is extracted from the September 2006-2 Issue
While tens of billions of dollars flits in and out of the commodity markets at the drop of a rumor, the physical markets continue to operate at a steady pace. The volatility occurs in the paper markets, where traders can drive prices up and down while knowing little about the underlying fundamentals of the markets they trade in.
(The paper market refers to the futures contracts and other derivatives that are based on metals. For example, a metal fabricator may enter into a contract to buy copper in the future at a fixed price. This contract gives him the certainty that he needs to set his product selling prices. A copper producer may wish to have price protection on a portion of its future production, for example to satisfy debt obligations, and therefore become a counterparty to a futures contract. The contracts are traded on exchanges, with the prices rising and falling according to expectations with regard to the markets. The price set in the derivatives markets impacts on the spot, or current, price of the metals.)
Rumors of peace suddenly about to break out in the Middle East and the expectation that the U. S. Government will manipulate the dollar ahead of an election are among the latest ideas driving the moods of speculators. The gold price pendulum was already on a downswing after being pushed too high earlier this year by speculators.
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