Energy / Resources
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Hangover ahead for Miners?
Roger Montgomery
January 30, 2013
Recently a 5.5kg gold nugget was discovered prospecting around an old mine in Ballarat. Sometimes lightning strikes twice but more often trying to repeat past successes is like a dog returning to its vomit.
Spare a brief thought for the hapless long-term investor in businesses with sustainable competitive advantages. Sadly, these are not the businesses the stock market has been enamored with over the past six months.
continue…by Roger Montgomery Posted in Energy / Resources, Insightful Insights.
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Codan – a golden opportunity
Russell Muldoon
January 25, 2013
On 18 January, it was reported here that a 5.5 kg gold nugget (worth up to $300,000) was found in Ballarat with the help of a Minelab GPX-5000 metal detector. Minelab is a world class brand owned and managed by Codan Limited (ASX: CDA), a company that we hold in our investment funds.
continue…by Russell Muldoon Posted in Energy / Resources, Market Valuation.
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Heads in the Sand on LNG Economics?
Tim Kelley
December 12, 2012
One of the issues attracting media and analyst commentary recently is the potential impact of American shale gas exports to the economics of Australia’s large LNG projects.
The theme of many of the comments is that there is no cause for alarm, at least for the time being. Some of the reasons advanced include: the reluctance of US policymakers to permit exports; the time taken to ramp up supply if the US does export; and the fact that LNG contracts tend to be linked to oil, rather than gas prices.
by Tim Kelley Posted in Energy / Resources, Insightful Insights, Value.able.
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MEDIA
What are David Bucklands insights on Resources companies?
Roger Montgomery
December 4, 2012
Do CSL (CSL), Lynas (LYC), Kingsrose (KRM), Sundance Resources (SDL), Perseus (PRU), Jumbo Interactive (JIN), Sandfire (SFR), Seek, (SEK), Fortescue (FMG), BHP (BHP), Ausdrill (ASL), Metcash (MTS), Panaust (PNA), Webjet (WEB), BSA (BSA), SP Ausnet (SPN) or Northern Star (NST) achieve the coveted A1 grade? Watch this edition of Sky Business’ Your Money Your Call 4 December 2012 program now to find out, and also learn David’s insights into resources companies.
Watch here.
by Roger Montgomery Posted in Energy / Resources, TV Appearances.
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Mining hits the growth cliff
David Buckland
November 30, 2012
On Wednesday the Australian Bureau of Resources and Energy Economics said 51 mineral projects, 18 gas and petroleum projects and 18 infrastructure projects worth $268 billion had been approved. Of the 87 projects, 11 mega projects worth more than $5 billion each, account for an aggregate $200 billion or 75 per cent of the total committed project value. For some months now we have been warning investors of a growth cliff and note the slowing in the number of projects that have progressed from potential to committed. For example, in the six months to April 2012, 21 projects worth $45 billion were approved. However, in the six months to October 2012, 10 projects worth $13 billion were approved.
by David Buckland Posted in Companies, Energy / Resources.
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Unearthing informed Mining Services research
Russell Muldoon
November 26, 2012
Although it has taken a while for our alert earlier this year to flow through, project delays, cancellations and profit downgrades are mounting as the mining services sector confronts its post-capex-boom. To name a few: Macmahon is shedding staff and cutting pay rates, Emeco’s hiring rates have collapsed with an industry wide surplus of idle heavy machinery, Diploma Group is no longer proceeding to build a 244 man camp near Tom Price for Rio Tinto, ALS is reporting no growth, Ausdrill severed its earnings guidance and Orica wrote down the value of its equipment finance division, Minova, by $367m.
by Russell Muldoon Posted in Energy / Resources, Insightful Insights.
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MEDIA
Resource service firms are struggling
Roger Montgomery
November 24, 2012
Roger highlights the risks to Resource Service firms revenue streams due to their status as contractors in this Australian article published November 24th 2012. Read here.
by Roger Montgomery Posted in Energy / Resources, In the Press.
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WHITEPAPERS
Miclyn Express Offshore Limited
Roger Montgomery
November 23, 2012
As you know at Montgomery Investment Management we have held a very cautious view on iron ore for almost a year, noting the apparent over-investment in supply and reliance on Chinese demand. However, we have a more positive outlook in other areas.
Energy is one area where we feel that the supply and demand outlook is more favourable, and we have turned our minds to which companies might benefit from this.
As we have written about elsewhere, one such company is Miclyn Express Offshore Limited (ASX:MIO).
by Roger Montgomery Posted in Energy / Resources, Whitepapers.
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MEDIA
Why someone has to pull the HFT “Kill Switch”
Roger Montgomery
November 20, 2012
In typically comprehensive style Roger provides his insights on Dark pools, high frequency trading, foreign investment, reserve currency and Nathan Tinkler in this interview with Ticky Fullerton on ABC1’s The Business broadcast 20 November 2012. Watch here.
by Roger Montgomery Posted in Energy / Resources, Intrinsic Value, TV Appearances.
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Unconventional oil and gas – Transforming the US Energy Outlook
David Buckland
November 15, 2012
Earlier this week The International Energy Agency released its World Energy Outlook. While total US oil and gas production is expected to increase 35 per cent from 17 million barrels of oil equivalent per day (mboe/d) in 2010 to 23 mboe/d in 2020, the transformation is explained by the expected 6 mboe/d surge in unconventional oil and gas production over this decade. Together with the widening of the Panama Canal by 2014, which will allow LNG Supertankers to travel to Asia from the Gulf of Mexico, the US could potentially turn into a cheap exporter of gas, in competition with Australia.
continue…by David Buckland Posted in Energy / Resources, Insightful Insights, Value.able.
