Thursday, November 16, 2017

Treasures of the Atocha

It is a pleasant September morning in the year of our Lord 1622. A Spanish galleon sits in the port of Havana, along with 27 other ships of the combined fleet, their crews awaiting departure orders.

The Nuestra Señora de Atocha ("Our Lady of Atocha") sits low in the water, weighed down by 964 silver bars, 161 gold bars or disks, 255,000 silver coins, and chests filled with emeralds.

The Atocha is a 20-cannon, 500-ton colossus. It is the rear guard of the fleet and includes a company of soldiers. It's job is to protect the smaller and slower moving vessels from pirates.
The treasure arriving by mule to Panama City was so immense that summer that it took 2 months to record and load the cargo on the Atocha.

After still more delays in Havana, the convoy did not depart for Spain until 4 September 1622, a full six weeks behind schedule and well into hurricane season.
On 6 September, the Atocha was driven by a severe hurricane onto the coral reefs near the Dry Tortugas, about 35 miles (56 kilometers) west of Key West. The vessel quickly sank, drowning everyone on board except for three sailors and two slaves. They were all that remained of the 265 passengers and crew.

The Atocha had sunk in 55 feet of water, making it difficult for divers to retrieve any of the cargo.

A second hurricane in October of that year made attempts at salvage even more difficult by scattering the wreckage of the ship further.
Mr. Mel Fisher formed a company called Treasure Salvors and began searching in earnest for the much talked about Atocha.

His effort over a sixteen-year period from 1970 to 1986 lead to the discovery of the Santa Margarita in 1980 and the Atocha on July 20, 1985, her hull lying in 55 feet of water, exactly as recorded by the first salvagers in 1622.

A gold crucifix with inlaid Colombian emerald jewels went for $119,000.
40 items from his impressive cache went up for auction in New York on August 5, 2015.

A gold bar from the Atocha made $93,750.
The golden spoon was thought to be used by priests during Communion to convert South American natives. $62,000.

A gold chalice from the Margarita was the top selling lot, fetching $413,000.
A collection of shipwrecked 17th and 18th century Spanish treasure discovered off the coast of Florida sold in New York for about $2m.

The haul includes two spectacular gold chains, one called a 'money chain'. Fisher wore it on the 'Tonight Show Starring Johnny Carson' soon after the ship's discovery.
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$75,000
In the Colonial era, the Spanish king placed a 20 percent tariff on gold bullion called the Royal Fifth.

But if the gold was turned into jewelry, the tax was forgiven. Each link of the 'money chain' is of equal size and weight and could be twisted off and used as formal currency.

Also up for auction was a Bezoar Stone, which was believed to remove poisons and toxins from liquids. The pendant, about the size of an egg, is encased in a gold mounting with four arms grasping the stone.
A magnificent emerald jewel from the lost Atocha. It made $ 410,000 in 2013

The Guernsey's sale also offered about 100 silver coins from the Atocha sister ship, the Santa Margarita, ranging from $1,000 and up.

Monday, November 13, 2017

OrganiGram Holding Inc. - OGI.v

OrganiGram Holding Inc. - OGI.v is engaged in the production of marijuana in Canada.

On June 4, 2017 the company released NEWS

First Racking Installed in New Grow Rooms

Installation of the first vertical racks has begun in our new facility. These new grow rooms are 40 per cent larger than our current grow rooms, which allow a higher clearance between the three shelves of plants.





Sunday, November 12, 2017

West High Yield Resources Ltd. - WHY.v - 'Wild West' Venture

After announcing a pact to sell its main assets for US$750 million, the deal has collapsed. The buyer couldn’t come up with US$500,000.

The collapse ends a transaction that sparked a review by regulators following West High Yield’s extraordinary surge on October 5 after it announced the too good to be true deal. The cash deal to sell the magnesium 'deposit' in British Columbia to Gryphon Enterprises LLC would have been worth about 46 times West High Yield’s value the day before the announcement, making it one of the biggest mining asset sales in the world this year.

Frank Marcasco frank@whyresources.com
There were multiple red flags. According to a West High Yield filing, the Toronto office of law firm Baker McKenzie represented Gryphon. Immediately following the announcement, Baker McKenzie’s global head of mining said he was unaware of the transaction. West High Yield said the law firm had been named in error and that Gryphon “has received advice” from somebody else.

The company also warned last week that its prior claim that the assets hold about 3,000 years of magnesium supply “should not be relied upon.” Meanwhile West High Yield continues to claim "the assets have significant value.”

According to promotional media reports a total of $ 10m has been spent on the property over the past decade.
And yet again we have a dodgy company with a ridiculously dated presentation, a red flag due to the critical ongoing disclosure the presentation contains.

Finally the company's Preliminary Economic Assessment (PEA) was from 2013.

Friday, November 10, 2017

Canada Goose Holdings Inc. - GOOS

Canada Goose Holdings Inc. - GOOS.t was founded in a small Toronto warehouse 60 years ago. Canada Goose has grown into a highly coveted global outerwear brand that helps people from all corners of the globe embrace the elements and make their adventures possible.





On November 9, 2017 the company released News
  • Total revenue increased $44.4 million to $172.3 million, representing year-over-year growth of 34.7%
  • Gross margin expanded to 50.5% from 46.4% in the prior year
  • Adjusted EBITDA was $46.4 million, compared to $33.8 million in the prior year, representing year-over-year growth of 37.3%
  • Net income was $37.1 million, or $0.33 per diluted share, and adjusted net income was $32.9 million, or $0.29 per diluted share
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On March 15, 2017 the company released News

Canada Goose Holdings Inc. (“Canada Goose” or the “Company”) today announced the pricing of its initial public offering of 20,000,000 subordinate voting shares, including 13,691,846 subordinate voting shares to be sold by the selling shareholders, at a price to the public of C$17.00 per share. In addition, the underwriters have been granted a 30 day option to purchase up to an additional 3,000,000 subordinate voting shares from the selling shareholders. The Company will use the net proceeds it receives to repay a portion of outstanding indebtedness and will not receive any proceeds from the subordinate voting shares sold by the selling shareholders.