On what's going on with Blue Note Mining

I didn’t have too much time to do my search, but I read that Blue Note Mining had declared bankruptcy. Not that I was very surprised about the news as I knew things were not doing to well at Caribou (New Brunswick). But when I learned about them having discovered some gold near Caribou, I taught things were going to get a bit better… but it didn’t happen…

Its heartbreaking news and I was very sad to learn that Blue Note Mining had been delist from the TSX. BN had been moves into the TSX Venture, which I have no clue what it is about. The delist will be complete on April 1st. Now, I wonder if I should sale the investment or if I can still hold and if I hold – will the money remain? Just sooooo confusing. I didn’t receive any information on this what sort ever – a letter or anything. So I guess the only solution to know exactly what’s going on is… to contact TD Waterhouse! (lol!!!!!)

But what happen in my broker account is…extraordinary…

Blue Note Mining still appears in my account, no problem. But the amount is different. Back a couple of months ago, I had purchased 12 000 stocks of Blue Note Mining – main reason behind the purchase was because the company had a mine in New Brunswick. Which I find cool since I am from New Brunswick myself. It would have been too great if I could only had make some money of the investment. Anyway, in the late days, the current value of my investment had been less than 200$. But now, the amount that show up as current value is 600$ - which is almost the value of the initial investment I made back than; exactly of 689$. Let’s say that with Blue Note Mining, I would only had lost 89$ at the really end.

Now, what I think happen is maybe Blue Note Mining had given some money back to their shareholders. But I wonder where they took the money, since they had declared bankruptcy. I do not plan to sale Blue Note Mining anyway unless I have too. I wouldn’t like to loose that 600$ of mine.

This is a valuable example on why its always better to purchase, stick and hold until the end, just like Derek Foster learn me to do. Because of this I save 29$ (the cost of the transaction that it will cost me to sale the investment) and more than 400$ value on the initial investment. Like WOW. I am just lucky like that sometimes.

I do not wish this of course, but wouldn’t be nice if the same thing could happen with Timminco? The initial value of my purchase use to be of 4 065$ and now, it’s worth 554$! This is worst investment I ever made of my young life as an investor. But I do not wish a bankruptcy for Timminco (TIM), no company deserved to live a bankruptcy. It’s awful for investor, CEO and employees. Because I guess the employees of Blue Note Mining may had been lay-off. And I should be careful on what I write – or say – remember what happen with my morning job? Just too hot.

And, if I continue to look into my portfolio, I just can only laugh at myself about Bank of Nova Scotia. I taught it was a so smart move of mine to purchase BNS at 44.94$... but now each stock only worth 31.60$. Just so hilarious. It’s just show how markets are difficult to follow… even for an expert like myself lol.

TSX forever.

Me and my little shares

As for my investment, my famous Blue Note Mining is getting up up up… well, from 0.05 cents to 0.025 cents….. that’s pretty good. I am willing to take everything. They have discovered some gold near by the Caribou mine and the stock price begin to rise a bit. But it’s true that for the rest, I am not doing so well, but I comfort myself by saying it’s all for a long-time investment and I have still time to recover from my lost since I didn’t sell anything. I was quite shock by reading MorningStar website, as they were saying that October and November had been the worst months for mutual funds, seem like everyone are selling their units. It is so not the time to sell, it’s just contribute to make things worst than ever, as I consider it will be important that all players small or big keep the money were it is invest. And anyway, it’s not fun to sale now and loses money like crazy. By not selling, I believe I keep a chance to see things coming up again like its use to be. I would just like to see everything go back to normal as I was so close to reach my first 50 000$.

I am not getting too desperate as I begin to purchase stocks. And the funniest thing is that I try to buy when I think we reach the lowest, but the lowest is being beat my another lowest and so on…lol That’s what happen to me with Bank of Scotia. I purchase the stocks at 44.82$. I taught it was a good deal…. But now, the stock price is at something like 30$.......... Oh no!

And that’s not it… as for my Sprott Equity fund, I first did a bad move, I invest 5 000$ at the price of 50$... After what, thinking I could do a good deal, I invest another 1 000$ at 35$ the unit price….. And now, in date of today, the units are around 25$ or less…

The lesson I learn…when I think I have reach the bottom, it’s not being reach yet… lol!!!!!

And what to tell about TIM? And Sprott stocks……….. I just prefer not to talk about it. :)

I believe that when I will have enough of loosing money, I will consult a financial adviser. That’s sit that’s all. But that day might never come as I like purchasing stocks like a rock and I follow the index with a huge interest each day. My only regret is to not be able to make enough money to invest more. This is just so difficult those days to follow the index as t goes up and down and it’s turning me crazy. But I really enjoy. Dividends are really great too to earn.

A smart move of mine was Methanex (MX) even if I didn’t have a clue of what was methanol back than lol. I purchase MX at around 15$ per share. Now they worth 13$ or something. I just don’t want to loose money that much, I want to make some. That’s why I am saying that purchasing Methanex at 15$ was a great move.

I have an eye on HSE, BPO, FTS, ENB just to name a few. But the only concern is where I am going to find the money….. And that’s the reason why my next purchase might be BPO. I would just like to purchase 200 stocks around the price of 6$ and get the high dividend of a it more than 0.70 cents…

At the end, I just can’t wait who things will have turned out for me in about one or 2 years for now. I would very much to reach 100 000$ in asset by the end of my 30 birthday. What’s nice with me is that I can never barely reach my goal, but I prefer to fix myself some funny unreachable goal and make fun of myself than just to go with a little things that I can easily reach.

Running out of time.... and of money

My latest purchase of Methanex Corporation (MX) for 100 stocks was a desperately move to try to make some money as I lost so much. What make me loose a lot are those Sprott Asset Management shares, that I purchase near 10$ and now, its value is not even half of that. Not too much I can do about it. I got also pretty unlucky with the Blue Note Mining stocks, which I purchase at 60 cents, and now, the share only worth 0.015…. And what to say about Timminco… In a way or in another, I don’t regret anything as those where my choices and I completely assumed them.

My only real regret is just not having enough money to invest even more. Time is running too fast and in December, I had to save for my RRSP. I had 7 000$ I need to save – I had until March 2009. I will probably done paying my credit line in December, only if I decide not to purchase new shares until December.

I really like Fortis, and if only I was making 2 000$ more this month, I will definitely purchase some Fortis shares. Fortis is really great, even during rough times, the share didn’t really go under 20$. Now it’s value is 25.98$. If only the share price could false down again, it would be my ultimate buy. And Fortis is based in Newfoundland and as a New Brunswicker, I like the idea to purchase something form the Maritimes. As my Blue Note Mining didn’t turn out really well… The famous Caribou mine is… closing its doors…….. oh lol! It is so funny after all. Mines might not be my stuff after all. I should just gave up on stock and stop trying so hard.

My 3 jobs got well again. I am so desperately in need of money right now. I get upset at some points but I do not show anything about it. At least not openly. At a point, if I was not that dead focus on making money, I thing I could lose control and run out crazy like hell. But that’s my secret, I want to reach 50 000$ one of these days. And writing about my problems is really releasing for me and I especially pay 8$ this evening just to write on my blog. It’s just not the fact on going and writing, it’s the writing and posting, both need to be combine together. The wireless on my laptop still not working.

I am doing ok after all

I am still loosing money like crazy today, my Sprott Asset Management stocks value is still low, even with Blue Note Mining, I lost money. But I didn't loss enough to tell myself I won't invest ever again... I have an eye on Bank of Nova Scotia stocks and I might do my move tomorrow. I am just too excited see how things will turn out by the end of the day. If only I could have a 10 000$ somewhere... but right now I still don't have too much in my bank account.... But anyway, I plan to borrow 5 000$ from my credit line and purchase some stocks... I had been waiting for so long to purchase a bank stocks and this is the good time. I am all getting excited and yeah I can't wait.

And talking about banking account, yesterday, I was quite shock about a conversation I learn at my job. It's my full-time job, and it's in a call center. We are being paid 12$/h. It's very low for all the work, but anyway, for now, still I stick with 2 other part-time job and I had a regular schedule, I stay there. And the job is quite easy after a couple of weeks. Anyway, I heard the conversation of that lady, she's in her fifties and she was talking to someone higher and she was telling about the medications she needs and than in the fact that she was living in poverty. When I heard her saying the world something like "my poverty" I kind of freeze there. "Living in my poverty" is what she said. It was so weird to hear her saying something like that. Like if she wanted that we had her in pity. And I once hear her telling to a customer something like "I work 11 hours a day". Is she looking for a some kind of recognition from the customer or something like it? And anyway, if she work 11 per day, in the end of the 2 weeks for the pay, she will get a 1 000$ paycheck after taxes. After that your telling me you live in poverty?

I never, of course, tell her anything of what I was thinking of her behavior. But I dislike it very much and I just hope someone will listen to her calls and tell her just to stop looking for recognition coming from customers. Myself, I am not the type who's looking for some kind of recognition. Not that I am careless, but a job is a job and for myself, the only thing I am into is money.

And sometime, I told myself that if I would had been very great, I wouldn't be working at low salary jobs and it will be really easy to find a well paying job. I am just like that and I like to be mean to myself. Like just for my portfolio. If I loose everything, I am going to loose anything. But from the start, I build everything for a long time commitment and I am not afraid of the stocks market or about anything else as everything had been plan and at the same kind not being plan - for a long time adventure.

And a bad news, other than the stocks market is that I yesterday ask someone if there was overtime available and I was told I need to ask for my supervisor. Usually they put on the board if there is overtime but these days, nothing. And I know a couple of co-workers who are doing overtime without asking. For myself, I am too scare of that - and what if there's no overtime available? They don't seem to be very concern about it, but I am. One of them told me he wasn't giving a damn about it. I am just curious to ask to be able to do my Sunday, especially after what happen to me last week at my little survey job... Like I show up at work but there was no one to open the place. I don't even know what's going to happen to my pay for that day. Anyway, I am supposed to call tomorrow to find out if there's any work available.

I really had the worst and the most miserable jobs in the whole word but the things is mixing them all together make a huge $$$ after the week. The only thing is I am getting annoying of the weekly routine sometime.

This Saturday, I am getting a hair cut.

Blue Note Mining all the way

It’s seemed like my problem with computer partly resolve, so I quite enjoy my evening. And I am quite all proud of myself and with my Blue Note Mining pick. The share jumping from 0.055 cents to 0.07 cents. Which made a profit of 180$, which is more than what I earn in a near 13 hours of work per day.

For now, I keep the stocks, I won’t sale for 180$, knowing it cost me 29$ to invest in those stocks, and it will probably cost me the same thing to sale them.

I just hope things continue to keep rolling and going……

I really like what I read about Blue Note in the following paragraph. The most interesting for me was this specific part:

“We just need metals prices to improve and this mine will kick off lots of cash," said Michael Judson, Blue Note's President and CEO”

Source: http://www.huliq.com/13/67010/blue-note-reduces-costs-caribou-mine

And when I read “Caribou”, it’s just making me laugh, like hey, I know Restigouche, Caribou and all those tinny little places. That’s back home, even if I am not exactly from there!

Rock on New Brunswick.

About Blue Note Mining

Yesterday was my birthday, I am now 28 years old and I didn't reach my goal yet... But anyway, I quite happy to where I am at this point and I just hope things will just continue to improve for me.

Really lately, I purchase 12 000 stocks of Blue Note Mining, for no specific reasons, just I find accidentally the company by searching for the National Bank symbol (which is Banque Nationale in French - BN). What I find was quite interesting. Blue Note Mining has a mine of zinc near Bathurst in New Brunswick - which pick my interest because I am myself from New Brunswick. The investment cost me a near of 700$ in total, for 12 000 stocks.

And the fact that the cost of each share is super low interest me, and also the fact that earlier this year, the price reaches 65 cents or 60 cents per share... So if, by any chance, the share price can still reach the same 65 or 60 cents, I will be able to make a lot of money as I purchase each share at the price of 0.05 cents... Since I really don't have that money to invest, I find the possibility interesting and well, if I lost money, I won't lost that much, only 700 or 600$... But the share price is pretty stable, it goes around 5 cents to 0.055 cents.... and I don't understand how a share can reach 0.055 cents as 0.005 doesn't mean anything in Canadian money.

I still have a lot to learn I guess... ;)