Friday, September 23, 2011

Bought more PHYS

Bought PHYS at $14.33.

Bought more PSLV

Yesterday, I bought more PSLV @ $17.30. Today, i bought more at $15.25. My cost basis is now $17.45.

Ugh, buying in the course of a falling market is always gut-wrenching.

Thursday, September 22, 2011

Bought, yes, even more SCPZF

Bought more SCPZF at $4.54. My cost basis is now $4.96.

Bought PHYS, bought SLW calls

Bought PHYS @ $15.03. My cost basis for that position is now $15.13.
Bought SLW 2013 $25 calls @ $15.49.

Monday, September 19, 2011

Bought yet more SCPZF

While I was writing the post below, my buy order for SCPZF at $4.76 triggered. My cost basis is now $5.10.

What is SCPZF?

SCPZF is the pink sheet listing for Sprott Resources. It trades on the Toronto exchange as SCP.

Sprott Resources is one of the commodity-oriented companies created by Canadian resource investor Eric Sprott. Sprott is chairman and also receives a management fee through Sprott Consulting Limited Partnership. It's set up like a hedge fund; SCLP receives 2% of the NAV, plus an additional percentage if profits are over a certain level. Kenneth Bambrough is the CEO

SCP owns, in whole or in part, several resource-oriented businesses in Canada:

Waseca Energy (oil)
Orion Oil and Gas (oil and natural gas)
One Earth Oil & Gas (oil and natural gas)
Westfire Energy (oil and natural gas)

Stonegate Agricom (fertilizer)
One Earth Farms (crops and cattle).

73,971 ounces gold bullion, worth about $136.8 M at $1850/oz. Or, about 25% of market cap at the current share price of $4.80

The "One Earth" businesses are organized in partnership with several Canadian First Nations. This improves economic development and employment in the One Earth areas and this stable, long-term relationship with land owners allows One Earth to benefit from economies of scale which enhances the company's long-term profitability.

EDIT to add: SCP doesn't pay dividends, but they have a habit of making stock buybacks. The most recent was announced August 30, for 8% of shares outstanding.

Friday, September 2, 2011

Bought more SCPZF

Bought yet more SCPZF at $4.99. My net buy price is now $5.19.