THE PIGS MID DAY EXPRESS

Largest 1 Day Advance
Company	Symbol	Latest Price	Change
			Net	%
Mahalo Energy	CBM.H-X	0.010	0.010	100.000
ISG Capital	SUS-X	0.090	0.040	70.000
Imaflex Inc	IFX.A-X	0.270	0.090	50.000
Intensity Company Inc.	ITT-X	0.090	0.030	50.000
Metamedia Capital Corp.	MME-X	0.020	0.010	50.000
Bearclaw Capital Corp	BRL-X	0.080	0.030	45.450
Swift Resources	SWR-X	0.170	0.050	41.670
Unity Energy Corp.	UTY-X	0.180	0.050	38.460
Bri-Chem Corp.	BRY-X	1.500	0.400	36.360
Madison Minerals Inc.	MMR-X	0.100	0.030	33.330
Royce Resources	ROY.H-X	0.060	0.020	33.330
U.S. Silver Corp.	USA.WT-X	0.160	0.040	33.330
Supreme Resources	SPR-X	0.090	0.020	30.770
Odin Mining & Exploration	ODN-X	0.070	0.020	30.000
Gee-Ten Ventures Inc	GTV-X	0.200	0.050	29.030
Golden Dawn Minerals	GOM-X	0.050	0.010	28.570
Gold Standard Ventures	GV-X	0.900	0.190	26.760
Spitfire Energy	SEL-X	0.570	0.120	26.670
Emgold Mining	EMR-X	0.150	0.030	25.000
Section Rouge Media Inc	SRO-X	0.030	0.010	25.000

Most Active
Company	Symbol	Volume	Latest Price	Change
				Net	%
Western Energy Services	WRG-X	10,414,000	0.230	0.010	2.220
Lucara Diamond	LUC-X	9,042,661	0.850	-0.050	-5.560
Spider Resources	SPQ-X	8,522,700	0.170	0.010	3.130
Northern Star Mining	NSM-X	7,815,070	0.080	-0.080	-48.390
NWest Energy	NWN-X	6,271,500	0.040	-0.010	-22.220
KWG Resources Inc.	KWG-X	3,461,000	0.120	0.000	0.000
Black Marlin Energy Holdings	BLM-X	2,903,366	0.390	0.000	0.000
Fire River Gold	FAU-X	2,440,108	0.600	0.030	5.260
Golden Hope Mines Ltd	GNH-X	2,286,635	0.550	0.050	10.000
Newcastle Minerals	NCM-X	1,521,600	0.110	-0.010	-8.330
Maya Gold & Silver	MYA-X	1,396,100	0.250	0.020	8.700
Petroamerica Oil	PTA-X	1,386,240	0.360	-0.040	-8.860
Terrane Metals	TRX-X	1,310,148	1.070	-0.010	-0.930
Blue Note Mining	BNT-X	1,295,234	0.080	0.010	6.670
Mahalo Energy	CBM.H-X	1,280,000	0.010	0.010	100.000
Playfair Mining	PLY-X	1,267,350	0.080	0.000	0.000
Excel Gold Mining	EGM-X	1,248,890	0.090	0.010	6.250
Golden Dawn Minerals	GOM-X	1,195,500	0.050	0.010	28.570
AltaCanada Energy	ANG-X	1,119,500	0.070	0.000	0.000
Avion Gold	AVR-X	1,042,896	0.550	0.000	0.000

APM-X (at $0.07) has risen by more than 20.00% since the previous close.

2:20 PM 18/06/2010
Some data delayed up to 20 minutes

APM-X
Your % value: 20.00%
Prev Close: $0.06
Net Change: 0.02
% Change:  27.27%
Last Price: $0.07

Volume: 235,500

Roxgold receives TSX-V approval for TJ Ridge deal

2010-06-18 11:27 MT - News Release
Mr. Alan Raven reports
OROCAN RESOURCE CORP. OPTIONS TJ RIDGE PROPERTY
Roxgold Inc., further to its news in Stockwatch on March 9, 2010, has learned that the option agreement with Orocan Resource Corp. wherein Orocan may acquire a 70-per-cent undivided interest in the TJ Ridge mineral property, located in the Skeena mining division of British Columbia, Canada, has been accepted for filing by the TSX Venture Exchange.
Under the terms of the agreement, Orocan may earn an undivided 70-per-cent interest in the property by making payments of $25,000 (received) and issue 100,000 common shares to Roxgold (issued) on TSX-V approval, $25,000 and 100,000 shares on or before the first anniversary of the agreement, 100,000 shares on or before the second anniversary of the agreement, and $100,000 and 100,000 shares on or before the third anniversary of the agreement, and conduct work programs of $150,000 on or before the second anniversary of the agreement, a further $150,000 on or before the third anniversary, a further $440,000 on or before the fourth anniversary, and a further $1-million on or before the fifth anniversary of the agreement. A 2-per-cent net smelter returns royalty has been reserved by the underlying owner of the property.


SOME GOOD READING...... 
 
http://www.firerivergold.com/i/pdf/FAUFactsheet.pdf 

Enigma in the Natural Gas Market 

 

• Renisha Chainani

Published 6/18/2010 

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A sharp move in natural-gas-market contracts has caught traders' attention and sparked talk that at least one market participant may have been caught on the wrong side of a trade.

The March-April 2011 spread, a benchmark relationship because it covers the period from winter to spring, has surged as much as 134% this month and 204% since early May (i.e., since the Gulf oil spill). And we have also seen the spread in the Oct-Nov halved from 45 cents to 19 cents since early May.

NYMEX Natural Gas Prices and Spread

Source: Bloomberg

In a highly unusual move for this time of year, the price of natural gas for delivery March 2011 on Tuesday jumped to 43.3 cents more than the price for delivery in April. The gap, which was just 24.8 cents on last Friday, narrowed slightly to 36.8 cents on Wednesday. Trading volumes in both contracts have spiked.

Gas prices are typically higher in March, the last month of winter, than in April, when spring temperatures limit the demand for natural gas for heating. A trader expecting an unusually cold winter, for example, would bet on a wide spread between March and April gas prices.

The trade is the same bet that brought down Amaranth Advisors LLC, a Greenwich, Conn., hedge fund, in September 2006. Brian Hunter, a Canadian trader at the firm, placed an enormous bet on the spread on the belief that the March contract would be traded at a huge premium over April. But the spread narrowed from $2.5 to 42 cents that fall, costing the firm $6 billion.

This is peculiar behavior, given that supplies are currently building at a comfortable pace, i.e., whatever the knock-on to gas demand from the situation in the Gulf, it will likely not affect this season’ s refills nor next winter’s deliveries. Moreover, natural gas U.S. inventories have risen to their highest level for this time of year in June since at least 1993, when the government began collecting data.

10 Year Seasonal Natural Gas DOE Inventory Storage Data.

 

Source: Bloomberg

This then begs the question: are other factors impacting the price path of these spreads? After all, once these spreads lock into a trend they stay on trend, regardless of the underlying fundamental picture. Until last week, the March-April 2011 price spread was very thinly traded because long-term weather forecasts are unreliable, and traders typically don't start making bets on winter gas prices until later in the year. However, both of these spreads of currently decoupled from their respective trends. We haven’t seen these particular spreads behave in such a manner since an Amaranth morphed a $9 billion hedge fund into a $3 billion fund in August 2006. In September 2006, when Amaranth had to reverse its trades, the March-April spread tumbled to as low as 42 cents per million Btu from as high as $2.5 in August. At the time, the spread measured the difference between March 2007 and April 2007 prices.

The move in the March-April spread probably wasn't caused by a change in weather forecasts or supply predictions, but there can be two reasons:

Case I: A trader trying to exit a sizable bet on the spread after a bad wager on something else forced the trader to meet margin calls.

Case II: Major traders may also be anticipating the U.S. moratorium on offshore drilling in the Gulf of Mexico following the Deepwater Horizon rig explosion will cut gas supplies and alternatively, it may be the result of a single speculator taking a larger-than-normal position contrary to the consensus.

Renisha Chainani is a deputy manager for research at Anagram Capital Ltd. in Ahmedabad, Gujarat, India,and blogs at marketsandyou.blogspot.com.