Mexico Refineries showing some signs of life as production numbers rise
February 27, 2019
Crude oil processing, fuel production showing increases
Mexico’s six petroleum refineries are showing new signs of life: fuel production and crude processing capacity are up and unscheduled stoppages have been reduced to zero.
State oil sector reports seen by the newspaper El Universal show that production of regular and premium gasoline in the third week of February was 86.7% higher than in the first week of January.
Diesel and aviation fuel production also increased, by 98.3% and 68.7% respectively in the same period.
The month-over-month figures are not quite as impressive but positive nonetheless.
Daily gasoline production this month has averaged 192,000 barrels per day (bpd) compared to 128,000 bpd last month – a 50% increase – and 153,000 bpd in December. Diesel production was up 32% to 131,000 bpd in February compared to 99,000 bpd last month.
While the signs are promising, the National Refining System (SNR) is still a long way from getting back to production levels seen a decade ago when they reached their highest point in 29 years.
During the last two weeks of this month, automotive fuel production has averaged 213,000 bpd – just 42.3% of the average daily production of 504,100 bpd in January 2009.
With regard to crude oil processing, the six oil refineries achieved an average capacity of 484,000 bpd during January but this month, the figure has increased by 15.7% to 560,000 bpd.
Looking at figures for the first week of last month and the third week of February, the increase is even more impressive.
Crude processing has increased from 309,500 bpd to 664,00 bpd in the period, a 114% surge. However, the figure represents less than 40% of the refineries’ combined processing capacity if they were operating at an optimal level.
Another good result for the oil sector is that there hasn’t been a single work stoppage at refineries this month compared to 40 in January and 48 in December.
According to the oil sector reports, Mexico’s oil production and processing problems were, as of the end of the third quarter last year, primarily linked to “operational problems” at the refineries in Ciudad Madero, Tamaulipas, and Minatitlán, Veracruz.
At the time both facilities were only operating at a minimal capacity.
To improve production and processing capacity across the SNR, an oil sector report said, it was “essential to continue general maintenance and preventative programs” at all refineries.
Petroleum production has been declining in Mexico for years.
Earlier this month, President López Obrador announced a 107-billion-peso (US $5.5-billion) rescue plan for Pemex aimed at reducing the state oil company’s financial burden and strengthening its capacity to invest in exploration and production.
He has pledged to reduce Mexico’s dependency on petroleum imports and part of his rescue plan for the sector includes the construction of a new refinery in Tabasco.
But while the president is optimistic, financial institutions rejected the government’s plan, describing it as insufficient and disappointing, while Fitch Ratings warned that it doesn’t insulate the state oil company against future cuts to its credit rating, which it currently rates at just one notch above junk.
Source: El Universal (sp)
February 2, 2019
Justin’s note: Today, we hand the reins to Casey Research’s in-house commodities expert, David Forest, who says commodities are primed for an explosive bull run.
In fact, as you’ll see, this could be their biggest rally in 50 years… and now is the time to take advantage.
Read on to get all the details, including a “one-click” way to get exposure today.
By David Forest, editor, International Speculator
It’s the most important chart in the resource space today…
And it’s telling us that commodities are primed for their biggest rally of the last 50 years.
Why is this the best setup for commodities in half a century?
• Take a look below…
The chart I’m referring to tracks the S&P GSCI – which tracks prices for 24 commonly traded commodities – relative to the S&P 500. We’ve labeled a few important events on it…
When the blue line on the chart is rising, commodities are getting more expensive relative to the S&P 500 – a good proxy for the U.S. stock market. When the line is falling, commodities are getting cheaper relative to stocks.
As you can see, when commodities are at historic lows relative to stocks [green circles on the chart], it’s been a great time to buy.
For instance, two entry points for investors in the past were in 1971 – after we went off the gold standard – and in 1999, at the peak of the dot-com bubble. Between 1971 and 1974, the S&P GSCI rocketed 371% higher. And from 1999 to 2008, it shot up 454%.
• The opposite is true, too…
History shows you don’t want to be loading up on commodities when they’re expensive relative to stocks.
For instance, the S&P GSCI was at an extreme high relative to stocks [red circles on the chart] in 1990, at the peak of the Gulf Crisis, when Saddam Hussein’s army was rolling into neighboring Kuwait. That was a terrible time to be a commodities buyer. The S&P GSCI plunged 70% from the end of September 1990 to December 1998.
Another peak for commodities relative to stocks was in 2008, at the start of the global financial crisis. And again, that was a terrible time to buy commodities. From July 2008 to February 2009, the S&P GSCI experienced a 65% peak-to-trough fall.
• If past is prologue, that means commodities are primed for another explosive bull run…
Today, the ratio of the S&P GSCI to the S&P 500 is 0.91. The average ratio going back to 1970 is 3.9.
In other words, the commodities sector is currently 77% below its average price relationship with stocks over the past half-century. And it’s lower, on a relative basis, than it was ahead of the big commodities rallies in the early 1970s and the early 2000s.
There are lots of other considerations when it comes to buying natural resources.
But if you filter out the noise… and just buy when commodities are historically cheap relative to stocks… you’ll do very well indeed.
An easy, “one-click” way to get exposure today is to buy the Invesco DB Commodity Index Tracking Fund (DBC).
It gives you exposure to the 14 most heavily traded commodities.
You only need to invest a little bit of money to take advantage of this historic setup.
Editor, International Speculator
PRETIVM INITIATES INQUIRY INTO TRADING OF ITS SHARES
Today I saw this press release from Pretium Resources
VANCOUVER, British Columbia, Jan. 10, 2019 (GLOBE NEWSWIRE) — Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) reports that it has retained independent legal counsel to initiate an investigation of unusual trading activity in its shares.
Pretivm is a low-cost intermediate gold producer with the high-grade underground Brucejack Mine in northern British Columbia
For further information contact:
Joseph Ovsenek Troy Shultz
President & CEO Manager, Investor Relations & Corporate Communications
Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(SEDAR filings: Pretium Resources Inc.)
So, what is really going on?
This is not rocket science. Insiders (officers and directors) have been selling shares in PVG from May 17, 2018 through December 24, 2018.
8 insiders, all sellers in the open market have reported to authorities and via my subscription to INKResearch.com, I see it all.
Perhaps PVG does not need an attorney to investigate trading activity, just ask their own officers and directors why ‘they’ are selling.
Total shares valued at C$9,178,605 have been sold from May 17 – Dec 24, 2018.
Ovsenek J.J. – President & CEO
Smith, D. – Director
Paspalas, G.N. – Lead Director
McNaughton, K.C. – VP & Chief Exploration Officer
Vip, T. – Executive, VP & CFO
Romero, M.A. – Executive VP and Corporate Affairs & Sustainability
Quartermain, R.A. – Executive Chairman
Board, W. – VP, Geology & Chief Geologist
From my personal experience, when 1 or 2 insiders are selling, I don’t get too alarmed. But, when you have 8 insiders selling as in this situation, well, to me, something is going on (news) that has not yet been reported by the company. (Only time will tell)
I have never personally owned shares in PVG and do not have a short position, but I keep my eyes are hundreds of companies and the insider activity. I saw this selling going on a couple of months ago and thought about an article at that time. But with today’s press release I just had to do something.
Interesting to me that the press release above, stated for additional information contact,
Joseph Ovsenek, President & CEO.
Mr. Ovsenek is one of the insiders selling a total of 160,175 shares.
I have always enjoyed following the insider trading activity on all of my personal positions and other high profile companies, like PVG.
Many times, insider buying can alert us to great opportunities and in this situation, insider selling at a minimum, must be a big caution flag, if not, an out right sell signal.
I am sure this article will get a lot of views and responses, but folks, it is what it is and I am only the messenger.
If you would like to know more about my services, visit the links above.
January 3, 2019 @ 3:52 pm MARK SKOUSEN. Named one of the “Top 20 Living Economists,” Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books. “Fiat money and fiduciary credit are the pillar and post of our age of inflation.” — Hans F. Sennholz “The establishment of central banking removes the checks of bank credit expansion and puts the inflationary engine into operation.” — Murray N. Rothbard When the Federal Reserve was created in December 1913, it had two purposes: (1) To defend the gold standard and the dollar against inflation, and (2) To be a lender of last resort during a banking crisis. It turned out that in the first 30 years of the Fed, it kept its promise more with the #1 goal than the #2 goal. During the economic collapse of 1929-32, the Fed failed miserably to be a lender of … Continue reading
Note from Dudley Pierce Baker
I have maintained a subscription to INKResearch.com for many years allowing me to track insider trading in Canada and the U.S. markets. This is a general market comment from INK and I thought worthy of sharing with you.
MORNING INK REPORT :: CP CEO sold stock after lauding share buyback program
January 3, 2019
Yesterday, we highlighted insider selling at Canadian National Railway (Cloudy; CNR) and said that it did not give us any comfort regarding the potential for railway stocks to avoid getting hit by economic slowdown fears. Today, we visit Canadian Pacific Railway where CEO activity gives us the outright chills about the outlook for the stock.
On October 17th, Canadian Pacific Railway (CP) announced its intention to launch a share repurchase program. In the accompanying press release, CEO Keith Creel said, “With the new share repurchase program, we are renewing our commitment to return cash to shareholders in a disciplined, opportunistic manner”. The TSX accepted the company’s notice for the buyback program two days later. In the following month, Mr. Creel sold $16.5 million in company shares after exercising options.
Generally, we have a hard time with the idea that it is in the best interest of shareholders to use cash to buyback shares when the stock is soaring near all-time highs and debt lingers on the balance sheet. When such buybacks are accompanied by insider selling, we view it as a negative sign. When one of those insiders selling is also a board member, it is a bigger negative. This is the type of behavior and attitudes we tend to see in frothy and toppy environments. Sometimes those tops take a long time to form. In this case, we will stick our necks out and suggest the top for CP stock is probably in for a long time.
Canadian Pacific Railway (CP)
|Buys (000’s)||Sells (000’s)|
|SEDI Market Volume (Last 10 Days)||2,000||0|
|Quoted Market Value||$34,649,478,339|
|Holdings % of QMV||0.04%|
On November 8th, Canadian Pacific Railways (CP) CEO Keith Creel exercised 60,000 Options at an exercise price of $115.78 and sold the same number of Common Shares in the public market at an average price of $275.23. The CEO currently holds 88 Common Shares on a direct holdings basis, and 2,322 Common Shares on an indirect holdings basis.
Also on November 8th, the company repurchased 40,000 Common Shares at $275.01. Since October 19th, Canadian Pacific Railway has reported repurchasing 1,222,200 Common Shares at an average price of $268.12.
The stock currently holds a cloudy INK Edge outlook on the equally weighted V.I.P. criteria of valuations, insider commitment and price momentum which places it in the bottom 30% of all stocks ranked. INK outlook categories are designed to identify groups of stocks that have the potential to out- or under-perform the market. However, any individual stock could surprise on the up or downside. As such, outlook categories are not meant to be stock-specific recommendations.
INSIDER FILING TRENDS (SEDI DATA)
|Number of TSX Companies with Sell/Buy Filings|
|Number of Venture Companies with Marker Trades|
|Last Trading Day’s TSX Most Active (January 2, 2019)|
|ProMetic Life Sciences||PLI||6,808||Buying|
|Last Trading Day’s Venture Most Active (January 2, 2019)|
|Auxly Cannabis Group||XLY||2,948||N/A|
|HIVE Blockchain Tech||HIVE||1,733||N/A|
|Last Trading Day’s TSX Price Gainers (January 2, 2019)|
|Issuer Name||Symbol||D/D Gain||Insiders|
|Fairfax Financial Holding||FFH||$3.06||Buying|
|Bausch Health Companies||BHC||$2.22||Selling|
|Last Trading Day’s Venture Price Gainers (January 2, 2019)|
|Issuer Name||Symbol||D/D Gain||Insiders|
|Cobalt 27 Capital||KBLT||$0.50||Buying|
|Galaxy Digital Holdings||GLXY||$0.40||Buying|
|Emerald Health Therapeuti||EMH||$0.27||N/A|
|Last Trading Day’s TSX Price Losers (January 2, 2019)|
|Issuer Name||Symbol||D/D Loss||Insiders|
|Boyd Group Income Fund||BYD.UN||3.05||Selling|
|Restaurant Brands Intl LP||QSP.UN||2.23||N/A|
|Restaurant Brands Intl||QSR||1.56||Buying|
|Last Trading Day’s Venture Price Losers (January 2, 2019)|
|Issuer Name||Symbol||D/D Loss||Insiders|
|Pacific Booker Minerals||BKM||0.10||Selling|
|Eastwood Bio-Medical Ca||EBM||0.10||N/A|
|Last Trading Day’s TSX Percentage Gainers (January 2, 2019)|
|Issuer Name||Symbol||D/D %Gain||Insiders|
|First Mining Gold||FF||42.86%||Buying|
|ProMetic Life Sciences||PLI||37.25%||Buying|
|Faircourt Split Trust||FCS.UN||21.53%||N/A|
|Last Trading Day’s Venture Percentage Gainers (January 2, 2019)|
|Issuer Name||Symbol||D/D %Gain||Insiders|
|Volcanic Gold Mines||VG||50.00%||Buying|
|Galaxy Digital Holdings||GLXY||40.00%||Buying|
|Pure Energy Minerals||PE||33.33%||N/A|
|Last Trading Day’s TSX Percentage Losers (January 2, 2019)|
|Issuer Name||Symbol||D/D %Loss||Insiders|
|Brompton Oil Split||OSP||-10.46%||Buying|
|Scandium Int’l Mining||SCY||-9.52%||N/A|
|Last Trading Day’s Venture Percentage Losers (January 2, 2019)|
|Issuer Name||Symbol||D/D %Loss||Insiders|
|True North Gems||TGX||-60.00%||N/A|
|Strategic Oil & Gas||SOG||-25.00%||N/A|
|High Mountain Capital||BUZD.P||-23.53%||N/A|
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Hello Resource Investors,
At Junior Mining News, we are striving to become your first stop to receive and view the current news on your favorite companies.
Our Search Feature allows you to search potentially millions of articles, just put in a symbol or company name.
Exciting opportunities are coming our way as the resource sector appears to have bottomed and the possibility of substantially higher prices for all commodities could soon be upon us.
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Happy Holidays from The Team,
AMERICAN MANGANESE ACHIEVES SIGNIFICANT MILESTONE WITH LITHIUM-ION BATTERY RECYCLING PATENT
U.S. PATENT OFFICE ISSUES NOTICE OF PATENT ALLOWANCE December 14, 2018 - Surrey, BC Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or “AMY” or the “Company”), (TSX.V: AMY | OTC US: AMYZF | FSE: 2AM), is pleased to announce that the Company has received the “Notice of Allowance” from the United States Patent and Trade Mark Office for the Company’s lithium-ion battery recycling technology. The “Notice of Allowance” is formal notification indicating that the examination of the invention has been completed by the US Patent and Trademark Office and allowed for issuance as a patent. The Company’s attorney will be completing documentation and submitting fees for formal issuance of the US Patent. AMY CEO Larry W. Reaugh said, “Allowance of this patent is a significant milestone for the Company as the invention is now secured as a key asset that can be exclusively capitalized.” The U.S. Patent examiner deemed AMY’s technology is “novel” and “inventive” as it enables the recycling of valuable cathode metals (namely cobalt, nickel, manganese, aluminum and lithium) while converting these materials back to fresh cathode materials for manufacture of new lithium-ion batteries. “American Manganese recognized early on that significant growth in the electric vehicle market will eventually lead to supply strains in materials used to make lithium-ion batteries,” Mr. Reaugh noted, “and that effective recycling of end of life lithium-ion batteries is a key aspect of achieving a sustainable circular economy.” According to Bloomberg New Energy Finance, forecasts show that electric vehicle sales are “increasing from a record 1.1 million worldwide in 2017, to 11 million in 2025 and then surging to 30 million in 2030” (see: Electric Vehicle Outlook). In a Bloomberg Article dated December 4, 2018, “VW (Volkswagen) plans to launch fully or partly electric versions across its lineup of more than 300 cars, vans, trucks and motorbikes by 2030” (see: VW says the next generation of combustion cars will be its last ). In a Reuters article dated December 11, 2018, “Daimler will buy battery cells worth more than 20 billion euros ($23 billion) by 2030 as it readies mass production of hybrid and electric vehicles” (see: Daimler to buy $23 billion of battery cells for electric car drive ) With extensive experience in mining processes and technologies, American Manganese contracted Kemetco Research to embark on a research program to develop technology with the goal of capitalizing on the potential supply strains of the metals used for manufacturing lithium-ion batteries, while creating an important solution to the circular economy. The Notice of Allowance of the US Patent is a significant milestone in achieving this goal. Key aspects described in the patent application are: * Treatment of several cathode chemistries such as lithium cobalt oxide (LCO), lithium nickel manganese cobalt oxide (NMC) and lithium nickel cobalt aluminum oxide (NCA). * Methods for achieving 100% recoveries of cobalt, nickel, manganese, aluminum for all cathode chemistries tested. * Method for achieving 100% lithium recovery by a novel locked cycle process. AMY’s contractor, Kemetco Research, has been strategically focused on developing AMY’s core technology into a highly efficient recycling process, with plans to file for Continuing Patent Applications on work recently completed that complements the current technology. With the receipt of the Notice of Allowance, AMY is ahead of known competitors in terms of IP protection and positioned to lead the industry in electric vehicle battery recycling. About Kemetco Research Inc. Kemetco Research is a private sector integrated science, technology and innovation company. Their Contract Sciences operation provides laboratory analysis and testing, field work, bench scale studies, pilot plant investigations, consulting services, applied research and development for both industry and government. Their clients range from start-up companies developing new technologies through to large multinational corporations with proven processes. Kemetco provides scientific expertise in the fields of Specialty Analytical Chemistry, Chemical Process and Extractive Metallurgy. Because Kemetco carries out research in many different fields, it can offer a broader range of backgrounds and expertise than most laboratories. About American Manganese Inc. American Manganese Inc. is a critical metal company with a patent-pending process for the recovery of metals from lithium-ion batteries such as cobalt, lithium, nickel, manganese, and aluminum. Using a novel combination of reagents and unit operations, AMY can provide 100% extraction of cathode metals at battery grade purity. American Manganese Inc. aims to capitalize on its patent-pending technology and proprietary know-how to become the industry leader in recycling spent electric vehicle lithium-ion batteries (Please see the Company's July 25, 2018 Business Plan for further details). On behalf of Management AMERICAN MANGANESE INC. Larry W. Reaugh President and Chief Executive Officer Information Contacts: Larry W. Reaugh President and Chief Executive Officer Telephone: 778 574 4444 Email: firstname.lastname@example.org www.americanmanganeseinc.com  View the company’s Video https://www.youtube.com/watch?reload=9&v=R48CDcZ72qs&feature=youtu.be [21eed880cefa3cef3989ed384ec66201.jpeg] Check out our financing on the Stockhouse DealRoom https://americanmanganeseinc.com/deal-room [2ee374dba9fa942ff5d63532425c90cc.jpeg] View Larry’s latest Interview with Steve Darling – ProActive Investors American Manganese gets patent allowance, signs MOU with Battery Safety Solutions https://youtu.be/niRI-k1ChIY Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain “forward-looking statements”, which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law. References 1. https://about.bnef.com/electric-vehicle-outlook/ 2. https://www.bloomberg.com/news/articles/2018-12-04/vw-says-the-next-generation-of-combustion-cars-will-be-its-last 3. https://ca.reuters.com/article/technologyNews/idCAKBN1OA0OG-OCATC 4. http://www.kemetco.com/ 5. https://www.amymn.com/ 6. https://americanmanganeseinc.com/wp-content/uploads/2018/07/AMY_Presentation_July_25_2018.pdf 7. https://www.youtube.com/watch?reload=9&v=R48CDcZ72qs&feature=youtu.be 8. https://www.youtube.com/watch?reload=9&v=R48CDcZ72qs&feature=youtu.be 9. https://americanmanganeseinc.com/deal-room 10. https://americanmanganeseinc.com/deal-room 11. https://americanmanganeseinc.com/deal-room 12. https://youtu.be/niRI-k1ChIY 13. https://youtu.be/niRI-k1ChIY 14. https://youtu.be/niRI-k1ChIY 15. https://youtu.be/niRI-k1ChIY 16. https://youtu.be/niRI-k1ChIY 17. https://youtu.be/niRI-k1ChIY 18. https://youtu.be/niRI-k1ChIY 19. https://youtu.be/niRI-k1ChIY
November 7, 2018 By Dudley Pierce Baker Let’s face facts, these precious metals markets have been devastating over the last several years. Some of you receiving this email have been previous subscribers to my services. I understand your frustration but the times are a changing and it is time to be positioned to capitalize on the next big up move in the resource sector. In my personal portfolio which is viewable by my Gold and Lifetime Subscribers you can see all of my positions, whether common shares or stock warrants. I trust this information is valuable to subscribers and while I am not privy to exactly when these markets will turn strongly to the upside, however, I do know a good deal when I see one. And now I am seeing two awesome situations. My current subscribers are aware of these situations. Yes, two great deals with Gold companies … Continue reading
October 15, 2018 There has been quite a bit of chatter about the FANG stocks recently. In fact, the entire Technology Sector has taken a beating over the past 30+ days. Our research team, at Technical Traders Ltd., believes the Technology sector is setting up for a 15%+ price rebound from these recent lows and we want to alert our followers to be prepared for this move. Let’s start by taking a look at a 1 Month S&P Heat Map showing just how distressed certain sectors are in terms of price valuations. The Brighter Red highlighted symbols represent a price decrease of at least -6.7% to well above -10% over the past 30 days. It is pretty easy to see the entire Technology, Technology Services, Financial, and Consumer Goods sectors are all under some pricing pressure. What interests us is we call the “capital shift” that has been taking place over the … Continue reading