Today on Stockhouse
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Get the facts on gold investing including eight exclusive feature stories in the Stockhouse North American Gold Report.
Thom Calandra writes about playing the country game and the staking of resource-rich nations.
Top Bullboards post: “Unfortunately, the problem with this one is that they have the good but the project is not only not robust it may not be viable still! I noticed recently they raised the IRR to 22 for 17% still extremely low. That said there are 2 other problems. 1. The last I looked the feasibility was based on a Canadian Dollar worth almost 10% than the US hmm there goes the profit. 2. They are using a 3 year trailing average nickel still from the original feasibility which puts it over 11 bucks now if you look at the historical values for nickel that is still a robust number. There are very profitable nickel mines with 9 dollar nickel. And nickel is a very abundant metal making up a large portion of the each in fact it is the most abundant! Actually the other big costs for these things is diesel fuel as I recall I think they are still working off of 80 dollar oil been a long time since I read this thing but oil is still well over 100! With this in mind at very minimum they have to expand the resource to a minimum of a 15 year mine life with an IRR of 25% based on 115 oil and a dollar at par! Lots of work to do before this can be financed! Just my feel! They need someone with deep pockets to take them out!” From Curvature on the Victory Nickel (TSX: T.NI, Stock Forum) board.
Top Bullboard:Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts.
Top blog: littleguy123 presents Part II of his article on the “Big Three” ratings agencies in the Outside the Market blog.
For news about small stocks that made big moves in Thursday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"The market's had a few good days recently, so we're going to see a lot of give and take," said Art Hogan, managing director of Lazard Capital Markets, in an interview with CNN Money. "I'm worried about how much anticipation is baked into the market that Bernanke will do a repeat of last year."
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Tiffany & Co. (NYSE: TIF) |
Q2 |
$0.70 vs. $0.55 |
|
| Selected expected Canadian earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Royal Bank of Canada (TSX: T.RY) |
Q3 |
$1.10 vs. $0.87 |
|
Today In The Markets
Reduced expectations from Fed chief's speech help push stock markets lower
|
| DJIA |
11,149.82 |
-170.89 |
 |
|
| NASDAQ |
2,419.63 |
-48.06 |
|
|
| S&P500 |
1,159.27 |
-18.33 |
|
|
| S&P/TSX |
12,284.31 |
-59.50 |
|
|
| S&P/TSX Venture |
1,739.48 |
-3.90 |
 |
|
(The Canadian Press) TORONTO-NEW YORK - North American stock markets closed lower as investors appeared to decide that U.S. Federal Reserve chairman Ben Bernanke won't announce new stimulus measures in a key speech on Friday.
The S&P/TSX composite index fell 59.5 points to 12,284.31 with the gold sector limiting losses as bullion prices closed slightly higher after two days of steep losses.
The TSX Venture Exchange added 3.89 points to 1,739.48.
The Dow Jones industrial average dropped 170.89 points to 11,149.82.
The Nasdaq composite index lost 48.06 points to 2,419.63 while the S&P 500 index was down 18.33 points to 1,159.27.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Krispy Kreme Doughnuts, Inc. (NYSE: KKD, Stock Forum) reported financial results for the second quarter of fiscal 2012, ended July 31, 2011. Revenues in the quarter rose 11.4% to $98 million from $97.9 million. Net income was $8.8 million or 12 cents a share, compared to $2.2 million or 3 cents in the second quarter last year. Net income for the second quarter of fiscal 2012 includes a gain on the sale of the company's equity interest in its Mexican franchisee of $4.7 million after tax ($0.06 per share diluted)
New Guinea Gold Corp. (TSX: V.NGG, Stock Forum) announces that as a result of a review by the British Columbia Securities Commission, the company is issuing the following news release to clarify its disclosure. The company's MD&A from December 2011 and website cite the Sinivit indicated and inferred resources reported in the company's January 30, 2006 technical report as 713,000 tonnes grading 5.6 g/t gold and 340,000 tonnes at 3.2 g/t gold, respectively. It is herein clarified that this was the mineral resource inventory prior to the initiation of mining in 2007.