Author Topic: ALS.TO - Altius Minerals  (Read 1766379 times)

Liberty

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Re: ALS.TO - Altius Minerals
« Reply #180 on: May 06, 2011, 07:07:56 AM »
I just increased my ALS position by 50%. This drop is a nice opportunity.

I probably timed it terribly because that's what I do, and it might drop by 20% soon, but oh well, still a bargain.
« Last Edit: May 06, 2011, 07:37:56 AM by Liberty »
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cwericb

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Re: ALS.TO - Altius Minerals
« Reply #181 on: May 06, 2011, 07:35:20 AM »
Yup, bought some more today as well with mixed feelings.

Paid $14.79 a couple of weeks ago.Paid $11.93 today. That`s a 20% drop. Since there seems to be an unwritten rule that whatever I buy takes an immediate drop, I hereby apologize to the other shareholders on this board for whatever damage my purchase does to them today.
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Liberty

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Re: ALS.TO - Altius Minerals
« Reply #182 on: May 06, 2011, 11:40:41 AM »
cwericb, since what I buy drops and what you buy drops, maybe those two put together will mean that it'll skyrocket? Who knows how that stuff works   ;)
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cwericb

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Re: ALS.TO - Altius Minerals
« Reply #183 on: May 06, 2011, 12:26:02 PM »
Haha, its like some kind of friggin rule isn't it? Buy and the price takes a dive.
Well at least we're up a bit today so far. But it does get sort of discouraging at times. Alderon has been having a decent day as well. I don't know if commodities are leveling off or just taking a breather before they continue to drop. The only thing that gives me confidence is that the population of Asia is not going to disappear and now that they have had a taste of the good life, they are only going to want more of everything. Also I think I read today that this drop in commodities has not had much of an impact on iron ore.
Politicians and diapers must be changed often, and for the same reason. - Mark Twain

Liberty

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Re: ALS.TO - Altius Minerals
« Reply #184 on: May 06, 2011, 12:34:00 PM »
I just learned something about iron ore pricing, via Wikipedia:

Quote
Iron ore market
Over the last 40 years, iron ore prices have been decided in closed-door negotiations between the small handful of miners and steelmakers which dominate both spot and contract markets. Traditionally, the first deal reached between these two groups sets a benchmark to be followed by the rest of the industry.[2]
This benchmark system has however in recent years begun to break down, with participants along both demand and supply chains calling for a shift to short term pricing. Given that most other commodities already have a mature market-based pricing system, it is natural for iron ore to follow suit. Although exchange-cleared iron ore swap contracts have developed over the past few years, to-date no exchange has established a proper futures market for the largely seaborne $88 billion a year iron ore trade.[6] To answer increasing market demands for more transparent pricing, the pan-Asian multi-product commodity and currency derivatives exchange for global trade Singapore Mercantile Exchange (SMX) is planning to launch soon an iron ore futures contract, subject to regulatory approval from the Monetary Authority of Singapore, based on the Metal Bulletin Iron Ore Index (MBIOI) which utilizes daily price data from a broad spectrum of industry participants and independent Chinese steel consultancy and data provider Shanghai Steelhome's widespread contact base of steel producers and iron ore traders across China.[7]
This move follows a switch to index-based quarterly pricing by the world's three largest iron ore miners - Vale, Rio Tinto and BHP Billiton - in early 2010, breaking a 40-year tradition of benchmark annual pricing.[8]
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biaggio

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Re: ALS.TO - Altius Minerals
« Reply #185 on: May 06, 2011, 06:38:19 PM »
My impression is that commodity sell off mostly involved the more speculatively priced metals (mostly silver) and energy with financial buyers reassessing their appetite for risk.

In general I am in the Jeremy Granthem + Jimmy Rogers camp in regards to commodities.

By the was ALS.TO will not drop until I increase my holding (then it should drop another 20%). I was tempted today but did not pull the trigger.

cwericb

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Re: ALS.TO - Altius Minerals
« Reply #186 on: May 06, 2011, 07:45:54 PM »
Glad to know I am not the only one who precipitates a drop in everything I buy. I also took a plunge in RIM the other day - just to keep my streak going.
 
As for silver, this is somewhat of a replay of the Hunt brothers trying to control the market back in the 70's where there was just no justification for such a quick run up in price. But in the long run I can't see any reason why commodities are not going to be increasingly in demand in the future. When a major portion of the world's population has not been allowed to participat in the modern age and then over a relatively short period of time gain the ability to acquire all of those perks the western world takes for granted it, has to generate an incredible demand. All of those products that they want require vast amounts of natural resources - and we are talking about billions of new consumers. Once that movement has started, once those populations have have had a taste of modern luxuries it is like broaching a dam. That desire will not be stifled and, while prices may get a bit ahead of themselves at times, I am not convinced that we have a bubble that is about to burst. A correction for sure, and that is healthy and it is corrections help keep bubbles from forming. My 2 cents worth anyway.
Politicians and diapers must be changed often, and for the same reason. - Mark Twain

Liberty

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Re: ALS.TO - Altius Minerals
« Reply #187 on: May 08, 2011, 09:34:59 PM »
Dazel, if I might ask, what is your average cost for ALS and since when have you been buying?

I'm just curious.
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Dazel

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Re: ALS.TO - Altius Minerals
« Reply #188 on: May 09, 2011, 07:37:31 AM »


Mr. B

http://www.consolidatedthompson.com/i/pdf/news/july_20_09.pdf

At the top of the page it's headline is $240m investment...the assumptions are mine as I stated earlier. Very tough to find info on Companies from china.

Dazel.

Dazel

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Re: ALS.TO - Altius Minerals
« Reply #189 on: May 09, 2011, 07:44:09 AM »

Mr.B,

Sorry I did not the other post there!
http://www.cleveland.com/business/index.ssf/2011/01/cliffs_natural_resources_to_bu.html

The deal is to close in "early spring"...I do not know if they waited for the closing to get their cash or sold their shares out in the open market. So if they waited they will get paid soon.


Dazel.