Pinetree Capital, an investment fund with a portfolio worth $794 million, paid its CEO Sheldon Inwentash $34.6 million in 2010.Market Cap today C$ 17m
"This prestigious award is shared by every member of the Probe team," said David Palmer, President and CEO of Probe Mines. "From our technical team that has continued to advance and improve this deposit in the four years since its discovery, to the prospectors who brought us the property, Mike Tremblay and Jack Robert; Brian Atkinson, former OGS Regional Resident Geologist (Timmins); our Board of Directors; management and support teams; consultants and the First Nations and Chapleau communities - none of this would have been possible without them. On behalf of the entire Probe team, I would like to thank the PDAC for this incredible honour. As discoveries become scarcer, Borden exemplifies the importance of grass roots exploration and the potential that still exists within Canada to find high-quality and relevant deposits."
A QE program, then, was no surprise. IN MY MIND SOMETHING ELSE IS IN THE AIR. Here’s my conjecture: At the coming ECB meeting, Mario Draghi announces the specifics of a large QE program and his resignation as he returns to Italy to serve as the Italian president. In his place, ECB Executive Board Member and Bundesbank President Jens Weidmann is named ECB president. The Germans gain control of the ECB, which is a victory for Chancellor Merkel and calms the anti-ECB forces building in Germany. The QEprogram is put in place under German vigilance, which gives it great international credibility.The French will be unhappy but the Dutch, French and Italians have served as ECB president so why not a German, especially as it will be German money providing the ECB‘s capital backstop. The EUROrallies as the steadfastness of Weidmann is appreciated and the Swiss will be able to sell their massive European sovereign bond portfolio to a willing ECB buyer for very nice rates and eventually ease the burden of owning far too many euros. The SNB would cut their enormous losses and be able to calm the anger of its Swiss citizens.THIS IS ONLY CONJECTURE BUT THAT IS WHAT PULLING THE PEG AND GOING TO 1% NEGATIVE RATES WAS TWO MONTHS AGO. Volatility anyone!?!?
“There are a lot of capable people doing very good work,” he said. “And experience shows that in periods when markets are quieter, such as now, project results improve.”An RPA review of failed or troubled projects since 1985 identified 75 projects that failed to meet expectations, and of them: ........
So a focus by the investor on the upside and the downside is what will allow the industry to thrive. As an example, in the TSXV, there are probably 400 or 500 surplus companies in Canada. As my friend Otto Rock says, please don’t feed the animals. Don’t give these guys any more money. Make them go to company heaven. Thank and excuse.Think about it—500 companies at maybe $700,000 a year in general and administrative expenses including listing fees and auditing fees. That’s an enormous amount of money and every dime of it’s wasted. We need to cut this out of the industry so that there are fewer, better, more solvent players.
