Pinetree Capital

[phideaux]

Thanks 'Boss.

I'll just add that for most stocks, the RSI can rise to the 80-85 area before being considered "overbought" and at a higher risk for a correction. So potentially there is still a long way to go on the upside.

[SAGI]

Makes sense strawboss. However I have not been looking at the weekly chart but the daily charts. So perhaps a shorter term view. I hope I am wrong.

SAGI

[mike88]

This stock is a winner, kinda like SLW for different metals. I like their exposure to various exploration companies. thanks strawboss, sagi for the tech analysis and charts.

[SAGI]

Do we take profits now or do we hold on and buy back some more???
SAGI

[anywoundedduck]

Do we take profits now or do we hold on and buy back some more???
SAGI

Just bought a couple more thousand. I will be adding to this everytime it dips.

[dosman]

Jeez, t hat dip was one of the most obvious buys ive ever seen in my life. nice one duck. I'm sure as heck not selling

[phideaux]

Hmmm, maybe the market doesn't like this guy??

TORONTO, Canada (December 6, 2010) Pinetree Capital Ltd. (TSX: PNP), is pleased to announce the appointment of Marshall Auerback as company corporate spokesperson. Mr Auerback is a member of Pinetree’s Board of Directors and has some 28 years of global experience in the financial markets, in Hong Kong, Tokyo, New York and Toronto. He will play a key role in the formulation and articulation of Pinetree's investment strategy. Currently, Mr Auerback is a Senior Fellow at the Roosevelt Institute, a research associate for the Levy Institute and a fellow for the Economists for Peace and Security. He has served as an advisor to a number of fund management organizations, such as PIMCO, the world’s largest bond fund management group, RAB Capital, and David W. Tice & Associates. Mr. Auerback graduated magna cum laude from Queen’s University in 1981 and received a law degree from Corpus Christi College, Oxford University, in 1983.

http://pinetreecapital.com/investors...content_id=371

[dosman]

probably. it would be an odd time for profit taking

[SAGI]

I have to buy a long time on this one to break even. Some guys have been sitting on this since it hit 40 cents.
SAGI

[StateofJefferson]

Pinetree with all its diversification looks like a long term hold to me. That good information plus $3.00 gets you a cup of coffee at Starbucks!

[phideaux]

Well, nice recovery anyway, to close unchanged. Better than a poke in the eye.

[SAGI]

Absolutely a good thing shows the shorts do not have it. Longs are in control. I got a lot riding on this one. I do not mind it going into consolidation it will keep the shorts away as long as it remains steady and does not drop below 3.00 and moves up.
SAGI

[SAGI]

Anyone selling today????
SAGI

[SAGI]

I think it will be time to buy soon.
SAGI

[dosman]

I will probably buy more at 3

[phideaux]

PNP just bought a million shares of Knick Exploration.

Who are they, the scouts for the basketball team?

[Strawboss]

Pinetree does private placements seemingly several times a week with the typical deal structure including them receiving 500k-2 mil+ shares and a similar amount of warrants. I get emails from them all the time about their investing money in companies I have never heard of.

[Strawboss]

$3 should be solid monthly support - with the caveat being that word "monthly". An intra-month dip below $3 is definitely possible.

I will probably buy more at 3

[phideaux]

Pinetree does private placements seemingly several times a week with the typical deal structure including them receiving 500k-2 mil+ shares and a similar amount of warrants. I get emails from them all the time about their investing money in companies I have never heard of.

Yup, that's why we "pay" Pinetree, to find these tiny unknown speculations that we hope at least 1 out of 4 of them hits it big.

[SAGI]

Pinetree does private placements seemingly several times a week with the typical deal structure including them receiving 500k-2 mil+ shares and a similar amount of warrants. I get emails from them all the time about their investing money in companies I have never heard of.

Strawboss,
Do you ever get any emails telling you when they have sold anything and for how much? I mean they are showing profits and state that they have sold shares but on their website I can't see where this information is disclosed. Can you?
SAGI

[Strawboss]

No, they dont release that information.

Strawboss,
Do you ever get any emails telling you when they have sold anything and for how much? I mean they are showing profits and state that they have sold shares but on their website I can't see where this information is disclosed. Can you?
SAGI

[SAGI]

No, they dont release that information.

Can you figure out why they don't considering that they are a PLC. I find that a bit wierd!

SAGI

[phideaux]

This is not a direct comparison, but mutual funds in the U.S. and Canada don't announce what they buy, let alone what they sell.

[phideaux]

Nice 25 cent pop (7%) so far today.

Keep it going.....

[Strawboss]

They dont announce everything they buy either - only those transactions that are required by law to be reported. The reasons are obvious - why publicize your strategy and enable your enemies/competitors to gain a competitive advantage?

Can you figure out why they don't considering that they are a PLC. I find that a bit wierd!

SAGI

[donkey]

Has anyone noted the insider buys of 200k shares from 3.62-3.72 a week ago?

[phideaux]

Has anyone noted the insider buys of 200k shares from 3.62-3.72 a week ago?

Where are you finding the insider transactions?

[chinmusic]

Go to SEDI filings...it is part of the Canadian SEC(?) requirements that all principals file sales and purchases.

With a company like PNP it is a good way to see what is happening. Trying to value this stock by its holdings is next to impossible due to the volume of financings and private placements they take part in.

Another problem with establishing valuation is very little of their seed money goes to anyone with NI-43-101 reserves. They are all still in the SWAG stage of exploration. A bit of a crap shoot.

I suppose we are entrusting Sheldon and the boys with limiting the downside risk inherent in exploration and mine startup.

[Strawboss]

You are right in terms of trying to value this stock - there is just no good way to do it - unless you just use the earnings. But, when you consider the underlying fundamentals that are driving gold/silver/rare earths/uranium/fiat currencies, etc... you realize that these micro explorers really do have a lot of potential value that cant be reflected in the earnings. So, the next logical step is to try to figure out what multiple of earnings is appropriate.

I believe it would be an error to think of Pinetree in the same way you would a single micro explorer. In other words - thinking that its a crapshoot. The reason is the diversification. Yes, it is a certainty that some of their investments are going nowhere. That number might even be 50-75% of their total investments (no way to know until it is all over) that never generate positive cashflow.

But, the 25-50% that do will likely shoot the moon. And that doesnt even take into account the fact that even the pigs are going to fly when gold fever gets going in full bloom.

As much as I hate the analogy - Pinetree is very, very similar to a block of subprime mortgages that have been blocked together. Sure - some of them are going to go bad - but the yields are good enough to overcome the losses and by blocking them together - you reduce the risk in the aggregate.

Go to SEDI filings...it is part of the Canadian SEC(?) requirements that all principals file sales and purchases.

With a company like PNP it is a good way to see what is happening. Trying to value this stock by its holdings is next to impossible due to the volume of financings and private placements they take part in.

Another problem with establishing valuation is very little of their seed money goes to anyone with NI-43-101 reserves. They are all still in the SWAG stage of exploration. A bit of a crap shoot.

I suppose we are entrusting Sheldon and the boys with limiting the downside risk inherent in exploration and mine startup.

[phideaux]

My 7 cents (2 cents after taxes and inflation) is that the best we can do as investors is to compare Pinetree's NAV to the stock price and see if it is a bargain.

I believe they only report the NAV at the end of each quarter, at 09/30/10 it was $3.04. http://www.pinetreecapital.com/investors/financials/

No doubt the NAV is substantially higher now as many juniors, minis and micros have appreciated significantly over the last 2 months.

As James Dines put it, the stocks in Pinetree's portfolio that go to zero are just part of the cost of doing business.

[donkey]

https://spreadsheets.google.com/ccc?...thkey=CMy11aUO

There is a link to the insider purchases. I broke it down by month starting in August.
Since mid August Mr. Inwentash has picked up about 4.5 million shares.

In December alone, from Dec 1 to Dec 9, he's picked up 643,000 shares at an average price of 3.55.

[donkey]

I have a question, too. Going back to 2006 and forward on the insider reports on 2007-06-27 it shows him possessing 8.3 million shares.

Some were sold into the private market (2007-08, 2.1 million) but the majority were taken from under his name by:

47 - Acquisition or Disposition by Gift (2007-08-21/27/28) - 0.4 million @ 4.5$
11 - Acquisition or Disposition Carried out Privately (2008-11-19) - 3.1 million shares @ .4$
90 - Change in the Nature of Ownership (2007-08-07) - 2 million shares @ 9.15$ and (2007-08-23) .4 million @ 4.23$

The acquisition/disposition carried out privately is easily understandable except for the low price associated (1/10th of trading price at the time). However I can't find an explanation about what a change in nature of ownership or disposition by gift might entail. Is he passing them to a relative? What do gifts and change in ownership mean, typically? That he is just selling the shares under a different name?

[phideaux]

Good questions, Donk.

All that I know is that Pinetree is one of only 3 stocks in my portfolio that is up today.

[dosman]

Good lordy. What's the opposite of a dog? Whatever that is, that's what pinetree is

[donkey]

Another question, sorry. I've been poking around Pinetree all day deciding whether to buy more, sell, or what to think.

http://www.pinetreecapital.com/inves...content_id=325

----------excerpt-----------

ORONTO, Ontario – Pinetree Capital Ltd. (TSX: PNP), a Canadian investment company, announces its intention to make a normal course issuer bid (the “Bid”), through the facilities of the Toronto Stock Exchange (the “TSX”) and on other published markets, to purchase up to 5,000,000 of its common shares....

The Bid will commence on September 1, 2010 and end on August 31, 2011. Purchases of common shares under the Bid will be made at market prices and otherwise in accordance with the rules of the TSX. All common shares purchased under the Bid will be cancelled.

Pinetree believes that recent trading prices of its shares are not, and prices from time to time throughout the duration of the Bid may not be, fully reflective of the company’s underlying value. Depending upon future price movements and other factors, the purchase of its shares under the Bid may represent an attractive investment for the company and a desirable use of funds to contribute to enhancing shareholder value.

Pinetree has not purchased any of its common shares during the previous twelve months.
------------------------------------

The question I have is whether or not the company can buy back shares through the name of the CEO. Is that why there has been 4.5 million insider shares bought since September? Obviously, if the shares being bought under Mr. Inwentash's name are part of the buy back, then there will be less share price support when the goal share # is met. Otherwise, if this is not the case, then Mr. Inwentash is putting a lot of money into this thing. I'd like to know how to find this out if anyone can offer input.

[phideaux]

The question I have is whether or not the company can buy back shares through the name of the CEO. Is that why there has been 4.5 million insider shares bought since September?

Your questions would be good to send to their Investor Relations person, but I'm pretty sure the answer is no. Shares bought buy the company would have to be paid for by the company, and I'm pretty sure they would have to be reported as bought by the company.

I highly doubt that the company has bought almost all of the share-back shares in just the first three months of the Purchase Agreement (through August 2011). Companies usually spread it out so as to not influence the share price too much.

[Strawboss]

Most mining related companies sell shares - Pinetree buys em back. Things that make you go hmmmmm....

[donkey]

The reason it crossed my mind is because his name shows wherever Pinetree's does.

see Mesa Uranium (msa), Knick Exploration (knx), Excalibur Resources (xbr), Western Potash (wpx)

I understand he would have to declare as an insider due to Pinetree's position, and that explains why his Name mirrors everywhere Pinetree shows up. I guess what is confusing is when it shows him buying shares and Pinetree not, or Pinetree buying on the open market, etc. I'll fire off an e-mail to IR this weekend. Probably an irrelevant question but I don't know how the behind the scene stuff works and what is made public is quite vague.

[phideaux]

Good volume today too, almost twice average.

[Strawboss]

Good work mule.

I will expect a report on Monday.

The reason it crossed my mind is because his name shows wherever Pinetree's does.

see Mesa Uranium (msa), Knick Exploration (knx), Excalibur Resources (xbr), Western Potash (wpx)

I understand he would have to declare as an insider due to Pinetree's position, and that explains why his Name mirrors everywhere Pinetree shows up. I guess what is confusing is when it shows him buying shares and Pinetree not, or Pinetree buying on the open market, etc. I'll fire off an e-mail to IR this weekend. Probably an irrelevant question but I don't know how the behind the scene stuff works and what is made public is quite vague.

[chinmusic]

I am in agreement with you Straw regarding the diversification of PNP. My statement about a crapshoot was in regards to the explorers they are financing, many of which will become extremely well plotted holes in the ground in the middle of nowhere. Pinetree provides us an opportunity to widely diversify among a slew of juniors. Most will lead to nothing but a few have explosive potential, particularly in this economic environment.

In regards to Inwentash, you will see his name involved with numerous juniors on the TSX. He and Bruno are on the boards of several including at one time Megauranium. Another name you will see a lot of is James Dines in connection to Inwentash and in the past this relationship lead to speculation in regards to sharing of information about coming financings and private placements.

The TSX is known as the Wild West of exchanges for a reason

[anywoundedduck]

Good volume today too, almost twice average.

Because of the many holdings of Pinetree, any one of it holdings could have struck it rich yesterday, causing investors to notice.

Maybe this is partially the reason:
In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 27,585,500 common shares of Slam, or approximately 17.0% of all issued and outstanding common shares as at September 28, 2010, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.

AND

Thursday, December 09, 2010

Slam Exploration drills mineralized zone over significant intervals at Reserve Creek in Ontario

New Brunswick-based Slam Exploration (TSX-V:SXL) said Thursday it has found visible gold in two of the first three diamond drill holes in a 2,000 metre program at its Reserve Creek project in the Fort Hope area of Ontario.

The news has sent Slam's share price up nearly 10% on Thursday to $0.22 as of 11:11am EST.three holes defined a section 15 m east of bonanza hole RS10-16, after which the company decided to drill a similar pattern 15 m west of the hole.

"The company will continue to utilize this effective pattern to potentially expand the bonanza gold zone laterally," the company said in a statement.

This, it added, is expected to advance the deposit to NI 43-101 status, with drilling activities to continue into 2011. To finance the additional drilling, the company said it is building its available cash resources to over $5 million, with a financing due to close next week.

http://www.proactiveinvestors.com/co...rio-10744.html

[phideaux]

Looks like the Big Boys are moving in today. Saw a 50,000 share block trade at C$3.72, a couple of 25,000 blocks also.

Very bullish!


Edit: a block of 1/2 million shares just crossed at C$3.72

WOW!

[dosman]

This is against my usual strategy but I feel so bullish on this stock that I think I'll buy more at the next dip...if I have a chance


let us gogogogogogogogogogo

[donkey]

Reply to my e-mail query:

"The shares being bought are solely those of our CEO and can be held or sold,
at his discretion.
While we re-instated our buy-back, which gives us the ability to buy over
the next 12 month period, we have not yet seen any opportunity to purchase
the stock as the value has risen significantly since we put the plan in
place.
We continue to monitor it, but have different criteria that what would cause
our CEO to purchase. When we purchase as a company they are automatically
cancelled."

On another note, another 160k shares of insider buys posted in the last two days.

[Curtman]

On another note, another 160k shares of insider buys posted in the last two days.

Was this included in his email or just from another source?


You may want to ask or suggest if what he is saying in the first part of the statement if he is suggestion the stock is overbought.
That is what I interpret from, "opportunity to purchase"

[phideaux]

Was this included in his email or just from another source?


You may want to ask or suggest if what he is saying in the first part of the statement if he is suggestion the stock is overbought.
That is what I interpret from, "opportunity to purchase"

I think they're saying that PineTree's stock is no longer the screaming bargain of a lifetime it was 6 months a go or 2 years ago.

PineTree's shares don't need support any longer, and they can probably put that money to productive or beneficial use elsewhere, hypothetically such as a cash dividend. (Not even remotely likely IMHO but that would certainly provide a huge boost to the share price.)

[Strawboss]

Good work Donkey.

[anywoundedduck]

I think they're saying that PineTree's stock is no longer the screaming bargain of a lifetime it was 6 months a go or 2 years ago.

PineTree's shares don't need support any longer, and they can probably put that money to productive or beneficial use elsewhere, hypothetically such as a cash dividend. (Not even remotely likely IMHO but that would certainly provide a huge boost to the share price.)

I agree with your assessment. They were willing to buy back as long as the street was undervaluing thier stock.

On a positive note, it is obvious that they have plenty of cash on hand to take this stock onward and upward.

IMO, they should not announce a dividend until such a time that they can make it a permanent fixture. I can see it happening when the stock hits 20+. Also, I noticed that historically, they have split the stock 2 for 1 twice.

[dosman]

1500 more shares today @ 3.56 ..I got raped on my market order. I didn't see the ticker lag and thought i was getting 3.53. oh well, kind of irrelevant in the long run. I have 4k shares so I'm just gonna sit tight until we get to $100 pps