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.

Hot news

I very happy with my new 200 Pengrowth Energy Trust (PGF.UN) units of this week. With now 500 of those marvelous, I am now in business lol. And now I am a real investor. :)

I work a lot this week at a couple of different things and I actually didn’t quite any of my jobs yet, but at a point, I am getting very mad and frustrated. But never mind for now. The only thing I need at this time is another good year of income. And I feel very happy to have my blog at this time just to get rid of all those stupid jobs frustration. And working during weekend is very annoying. I would prefer to stay home. I just got my place a bit cleaner lol and I have mass of papers. My taxes papers are not all ready yet. I finally set up an appointment with Desjardins for my RRSP.

And thinking of it, I calculate again my upcoming dividend income, and it should make an average of 1 500$ as Pengrowth Energy Trust is at 2.04$ dividend now. Which make an average of 125$ per month. I just find out that UN like PGF.UN pay a monthly dividend lol. What hilarious.

I now have an eye on Pembina – PIF.UN I think it is because the company had announce that the 1.56$ dividend per share will remain until – something like 2013 or 2014. Which mean that Pembina dividend is practically 100% sure for the next 4 years. This is super great. And the company is about to close a 400 millions deal. Hopefully, I will earn enough soon to purchase at least 200 shares – but it might be only in 2 months. Problem being that Pembina is not that cheap, at 14$ and I wouldn’t be surprise if the price just keep rising as good news are coming from everywhere for Pembina.

Pembina is THE mine of gold. And talking about mine of gold, things are getting better for Sprott Canadian Equities, which is up at a bite more than 27$ now. It was about time. But what I really loose money into is Timminco.

So I get in mind to forget those advices I read in the Globe and Mail, Canadian Business and other junk lol, and just continue the way it is. And the way it is is DF way. Again and again and again!!! It’s from the latest Money for Nothing I learn at first from Pembina. Maybe it was from Stop Working and the Lazy. I never before closely look into his portfolio until a couple of months ago.

But one good thing at least I learn from Canadian Business in an edition of their magazine, they classifies Pembina by being one of the best manage company. TD also figure in the list, but I thing they shouldn’t appear there lol.

Anyhow, a lot is going on right now and if things can just keep going, I might be able to build something very nice for the future, before I hit the magic 30.

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.

100 more Timminco stocks

I just purchased an extra 100 stocks in Timminco, at the cost of 16.37$ per stock. I now had left around 800$ in my bank account... I just couldn't help it, I just wanted to purchase more stocks. Forget about paying my student loan.

I didn't calculate my overall income for quite a while now since I still have the problem with the Wireless of my laptop. Anyway, I spot that place where it's free to use the Internet, so I can still blog on my little activities. I just hope Timminco will turn well. If it can still reach that 22$ per share like it's once did, I will had make 600$ from the investment. I continue my search regarding Timminco, and what I learn was very positive and think Timminco stocks will just starting to rise in a not too far future. And not too elaborate too much on what I find, well, it was something like they had the contracts they needed and they just had to wait for the money to come in or something like that and for me it was just a buy buy buy comments... or from what I understood from it. I purchase Timminco knowing, again from what I understand, that Sprott sell part of their shares, and the reverse, Fidelity purchased Timminco... and me too lol. And it's hilarious, knowing I purchase 100 little shares. Well, I don't have that much money and now I am broke for the rest of the month lol.

I just kind of disappointed about my Sprott Asset Management stocks and there is no reasons why I had to loose money with the stocks like I did right now because from what I understand, they make 16 millions in profit for their last quarter, if the number is not correct, I know for sure they make some profits and now, a share that I pay 10$ now work less than 7$. But why? It's just doesn't make any sense.

At one of my job I had, I speak to someone who just pass his course to be a financial advisor or something like that and I ask him, just to chat around, why stocks were doing ups and downs all the time lol And than he explain that it was depending the temper of investors and also the news regarding the company, and so on. Like if everyone would just stop selling during bad things and keep holding like me, well, it could help, but just a bit, as he kept explaining to me, because it's not only the fault of investors. So I would like to say to people out there to stop selling Sprott shares. PLEASE.

Me and my little money

I am loosing money with crazy. My Timminco (TIM) drop from about 5$... Sprott Asset Management (SII) is now around 7$..... And I just don't want to think of the money I lost with my other investments, not to talk about my mutual funds and so on. And I just don't know the reason for all this. But I was kind of aware of the financial situation were in, but it's hurting me anyway. I didn't calculate my total value for quite a while now and I won't do so for a while, I am too scare too see hoe so little I have now.

Anyway, things are not so bad as I get back that morning job at a full part-time status like it was before. But now, I don't know if I can ever reach my 50 000$ by the end of the year. If it happen I am loosing too much because of my current investments, well, I could tell myself that I least, I have try... But the situation is not so bad as I can easily live without the money I had invest and all those were supposed to be for retirement anyway so I guess I will be able to catch up later on, but only if I don't get rid of the investment.

There's some overtime available at my day full-time job and it's the place where I should be right now, but I like do to other things than just working for money sometimes. I am kind in one of those strange mood as the weather isn't really nice and I had been reading one of those book, its call In the country of last things of Paul Auster is this is the kind of things you want to read when your loosing all your money in the stock market lol. I am kind of surprised; I can understand what it's all about. My English reading is improving.

I now have 100 Timminco stocks

I purchase other Timminco stocks this week. This time, I purchased them online, it was very easy to proceed, and it only cost be something like 27$. I purchase those stocks at 23.70$, which I believe was a good price for.

For the rest, the market is not super great at this time. I just can’t wait to make some big bucks from my Sprott Asset Management funds. So far, so good, since I am still working at my 3 jobs and I still making almost 800$ weekly. I am just looking to purchase more and more stocks and my next purchase could be Bank of Nova Scotia, but I will need at least 5 000$.

I don’t know too much on buying stocks, but I think the minimum per transaction is 100 stocks and Scotia stocks being not cheap, I might need at least 5 000$ before I can purchase them. I would like to purchase stocks that provide dividends. I was planning maybe to sell a couple of my non RBC mutual funds to purchase stocks.