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NEWS: Amerigo Announces Dates for Release of Q1 2011 Results and Investor Conference Call

Amerigo Resources Ltd. is pleased to announce that the Company will release its first quarter 2011 financial results at market open on Tuesday June 14, 2011 and will hold an investor conference call to discuss the Company’s Q1-2011 results on Wednesday June 15, 2011 at 11:00 am Pacific Daylight Time/2:00 pm Eastern Daylight Time.

To participate in the call, please dial the following number:

1-877-240-9772 (Toll-Free North America)

Please let the operator know you wish to participate in the Amerigo Resources conference call. Media are invited to attend on a listen-only basis.

Following management’s discussion of the quarterly results, the analyst and investment community will be invited to ask questions.

Full release

Dacha Strategic Metals

Som vi har försökt förmedla så är de internationella FOB priserna för terbium och dysprosium sist i en lång kedja från koncentrat, olika typer av karbonat till färdiga produkter som metall, ferrometallversioner och oxider i Kina för att slutligen (del av produktionen) hamna på ett exportpris inkl exportskatter.

Genom att flera av mellanstegen prissätts så kan vi göra goda prognoser vart dessa internationella FOB priser som påverkar Dacha´s NAV i framtiden är på väg. Jättehoppet i NAV häromdagen var således ingen överraskning för de som läser våra funderingar.

Idag rörde sig de inhemska kinesiska priserna för våra metaller upp ytterligare ca 4% i snitt. Det ska ni se som att vi nu bygger för framtida NAV uppdateringar som den tidigt i juli så att vi kan behålla vårt fantastiska track record av stigande NAV varje månad 2011.

Vi hade också en rörelse upp i FOB Ferrodysprosium från det senast av Dacha listade 910 usd till 959 usd. Vi bryr oss inte om att justera NAV uppskattning utan ligger komfortabelt kvar med vår bedömning om fantastiska 91 cent cad vilket vi tror kommer lyfta kursen när det pressreleasas. Kanske visar sig en sån värdeökning neutraliseras av ev nu nyttjade warranter (från våra vänner shortarna om dom hade sådana), vi har snart facit på det under alla omständigheter.

Igår såg vi rubriker om att kinesiska staten lovar fortsätta slå ner på illegala gruvor i södra Kina och idag står det om svår brist på koncentratet som är först i kedjan i “våra metaller”.

Vi jobbar normalt med bolag som har högre risk än vanligt men också högre chans. I Dacha ser vi ett bolag med ovanligt låg risk vid dagens NAV värdering och samtidigt en väldigt spännande risk reward situation. Vi tycker den kompletterar våra aktiva gruvbolag otroligt väl och hoppas våra läsare a) tog till sig bolaget när vi förde fram det på 37 – 46 cent genom olika kanaler samt b) förstår att bolaget faktiskt har en ännu större rabatt idag pga börsens tröghet. Det är kort sagt inte på något sätt försent att lägga skambud och fånga bolaget på en svag dag, eller ta en första post till dagskurs och sen lägga en andra på skambud och vänta.

Det är våra tankar men inse att ALLT aktieägande är riskkapital och det är viktigt att var och en gör sin egen analys och bara gör köp av aktier där man förstår risk och möjligheter och är beredd att leva med att även den bästa verksamhet kan få problem som är svåra att förutse.

OECD: America Risks a Crisis Unless it Raises Interest Rates

By Richard Blackden, May 25

America runs the risk of a crisis unless it raises interest rates and lays out a plan to cut its deficit by the end of the year, a leading economic think-tank has warned.


Although Ben Bernanke, the Fed chairman, has said a third shot of QE is unlikely, he has also signalled he is in no hurry to raise the target for the federal funds rate ? the economy’s key lending rate.

Interest rates should be lifted to 1pc by the end of the year from their current band of between 0pc and 0.25pc, according to the latest semi-annual outlook from the Organisation for Economic Co-operation and Development (OECD).

Doing so would avoid the Federal Reserve having to raise rates more quickly later to counter inflation, according to the think-tank’s economists.

The twin policy prescription comes as the US central bank prepares to end its second, $600bn (£369bn) of quantitative easing (QE) next month. Although Ben Bernanke, the Fed chairman, has said a third shot of QE is unlikely, he has also signalled he is in no hurry to raise the target for the federal funds rate – the economy’s key lending rate.

The latest set of forecasts from the OECD have the world’s largest economy growing 2.6pc this year – stronger than its last prediction in November but considerably weaker than the Fed’s own expectations.

And while the Paris-based group predicts the US unemployment rate will decline to 7.5pc by the end of next year from its current level of 9pc, that remains far above the level before the crisis.

The OECD, meanwhile, was blunt in its criticism of politicians in Washington DC for their failure to deliver a plan to reduce America’s budget deficit, which is forecast to reach 9.8pc of gross domestic product this year, according to the Congressional Budget Office.

“A well articulated medium-term strategy aimed at putting general government finances on a sustainable path also needs to be agreed as a matter of urgency,” the OECD said in its report.

It also said that the Bank of England should raise interest rates before the end of the year or risk letting inflation run out of control.

Despite downgrading its growth forecast for the UK for the third time in six months, it said: “Normalisation of interest rates will need to start during 2011 to stave off significant increases in inflation expectations.” Inflation is running at 4.5pc, more than double the Bank’s 2pc target, but has so far showed little sign of becoming embedded in wage settlements.

Source

Crisis Still Stalks Global Recovery, Warns OECD

AFP, May 25

Crisis still stalks the global economy with stagflation lurking and Japan set for recession this year despite moderate overall recovery, the OECD said on Wednesday, warning against complacency.


The OECD warned that ‘downside risks dominate’ the world, including the debt crisis in Europe and the threat of a slowdown in China

The Organisation for Economic Cooperation and Development held its 2011 global growth forecast steady at 4.2pc in its latest semi-annual Economic Outlook report, but warned of negative uncertainty.

“The recovery is gaining strength but takes place at different paces,” Pier Carlo Padoan, the OECD’s chief economist, told reporters, adding there was “no room for complacency”.

Angel Gurria, the OECD’s secretary general, said: “The crisis is not over yet, it has just changed its skin.”

He warned that “downside risks dominate”, including the debt crisis in Europe and the threat of a slowdown in China.

Recovery is uneven, the OECD report said, switching its forecast for Japan to show a recession of 0.9pc owing to the short-term effects of the March earthquake and tsunami. But it sees a strong recovery to 2.2pc growth next year.

In the last forecast in November before the earthquake, the OECD had forecast that the Japanese economy would slow but still show growth of 1.7pc this year and 1.3pc in 2012.

The latest report said: “The earthquake and tsunami hit when Japan’s expansion appeared to be back on track, thanks to buoyant exports and improving labour market.”

The OECD raised its 2011 forecasts for the US to 2.6pc and for the eurozone to 2.0pc.

But dangers off stage include possible increases in oil and other commodities prices, a slow recovery in Japan, a steep slowdown in China, eurozone debt problems, and the unsettled fiscal situation in Japan and the US.

“All this suggests that the global crisis may not be over yet,” warned Padoan in his introduction to the report.

“A concern is that, if downside risks interact, their cumulative impact could weaken the recovery significantly, possibly triggering stagflationary developments in some advanced economies.”

Stagflation is a vicious mix of low economic growth and high inflation.

It can defy conventional policy tools, which tend to improve one while aggravating the other.

The OECD, which groups 34 of the world’s advanced economies, said it expected overall inflation in its members to be 2.3pc this year, up from 1.8pc in 2010, before slowing to 1.7pc in 2012.

It forecast unemployment to fall to 7.9pc this year in OECD countries from 8.3pc in 2010, and then drop to 7.4pc in 2012.

“The global economy is exiting the recession but is not returning to business as usual,” Padoan said.

While forecasting that moderate economic recovery would continue, the OECD urged many of its members to undertake structural reforms to boost growth.

Fiscal consolidation needs to continue in many countries to stabilise debt levels, let alone get them back down below pre-crisis levels, it said.

“The US and Japan, for which such requirements are among the largest, have yet to produce credible medium-term plans while other countries need to bolster medium-term fiscal targets by specifying the measures that will be implemented to achieve them.”

The easy money policies which have underpinned the recovery should be kept in place through 2012, the OECD said, but also warned that interest rates should to start move up to avoid bubbles and dent inflation expectations.

“The need to keep close-to-zero policy rates for risk management reasons has now faded and an early upward adjustment in policy rates to establish a visibly positive level, as in the euro area, is merited in the US and the UK, but not yet in Japan,” the OECD advised.

A rise in interest rates could also temper a rise in commodity prices, it suggested. It said one economic model had shown that a one percentage point drop in three-month US real interest rates added $4 to the price of oil.

The OECD found concerns that speculation had fuelled commodity price inflation to be misplaced.

“Recent commodity price increases have been broad-based, including in particular certain food commodities for which organised futures markets do not exist,” it commented.

The OECD said that although increased oil prices could feed through to other goods, it also noted that rising incomes in emerging countries combined with greater use of biofuels made from food crops had pushed up demand.

Source

KWN Blog: Michael Pento – “You Better Have Your Crash Helmet On”

May 25

As our subscribers know, we always link to and recommend reading/listening to Eric King. The quality of the people he interview is truly great and one of the contributers is Michael Pento. When asked about the Fed’s intentions Pento had this to say:

“I just want to highlight some things that Jim Bullard said (President of the St. Louis Federal Reserve): You have to remember that he was one of the first Fed Presidents to go on record saying that he wanted desperately for the Fed to launch QE2, and now he’s the first one to say that QE3 is off the table, it’s not going to happen.” Read more…

The interview/broadcast can be found and downloaded here.