fredag 5 juli 2013

3 råd för att bli miljonär

 Följ tre enkla regler och du blir miljonär.

Per H Börjesson som skrivit ett par böcker om privatekonomi drog stor publik i Almedalen. Många ville ha konkret vägledning hur man blir miljonär genom klokt sparande.
Här är hans tre råd:
  1. Spara 10 procent direkt när du får lön. Vänta inte på bättre tider.
  2. Köp en bostad i ett bra läge och amortera på dina lån.
  3. Köp aktier eller aktiefonder, gärna indexfonder, och behåll dem.
– Alla kan bli miljonärer på sikt bara man följer dessa regler, säger Per H Börjesson.

torsdag 4 juli 2013

Will Indian Silver Imports Reach a Record in 2013?

Will Indian Silver Imports Reach a Record in 2013?



Like most commodities, silver has had a tough time these past few months, having fallen from close to $30 in mid-April to its current price of $19.32. However, good news for the white metal has recently arisen in the form of Indian silver import figures. 

In a note published last Friday, Eric Sprott and David Franklin state that after importing just 1,900 metric tons (MT) of silver in 2012, India has brought in 2,400 MT of the precious metal in just the first five months of this year. That is significant given the fact that India’s record for silver imports, recorded in 2008, is 5,048 MT, as per SilverSeek.com.

Why the surge in imports?

In terms of precious metals, India’s claim to fame has long been its status as the world’s biggest gold consumer. It’s gained that title largely because people in the country have limited access to banks, and, according to Sprott and Franklin, “owning precious metals is synonymous with savings and security.”

However, at present, taxes and import restrictions are making it difficult for buyers to get their hands on the yellow metal. Seeking Alpha contributor Dante Caruso elaborates on those measures in a recent article, commenting that in May, the Indian government raised the gold import duty to 8 percent from 6 percent as part of its “drastic measures to redirect [gold] investment back into the economy.” Further, lending against gold, including gold jewelry and gold ETFs, has been restricted, while Reliance Capital and the All India Gems & Jewellery Trade Federation are attempting to curb sales of gold and gold-related products.

As a result “it would appear that the Indian gold trade has moved offshore” to get away from those factors, while ”the majority of Indian investors” — excluding larger investors — are gravitating toward silver, Sprott and Franklin state.

The implications

Unsurprisingly, these circumstances have investors wondering whether this year will see India break its 2008 record for silver imports.

More importantly, many are considering how the market will be affected if India breaks, or even approaches, that record. Shedding some light on that topic, Caruso states in his article that due to both silver’s cheapness relative to gold and the fact that Indians spend so much more money on gold than on silver — respectively $7.2 billion and $665 million in May — “[v]ery little redirection of gold investment into silver is required to have a major impact.”

Put more bluntly, that means that if even a small number of gold investors decide to buy silver instead, the silver market could easily be overwhelmed, with prices rising “very quickly” as supply diminishes.

With that in mind, it looks as though, like Sprott and Franklin state, silver will be the true winner in India’s “war on gold.”

re-post on Emerging Silver Producers in Mexico

Emerging Silver Producers in Mexico

Silver mining in Mexico is on the rise, and many hopefuls are flocking to the country to try their luck. Here’s a look at five such companies. 

Canada’s Aurcana (TSXV:AUN) owns 99.9 percent of the La Negra silver-copper-lead-zinc mine, which is located in Queretaro State, Mexico. As of 2009, La Negra was milling 1,000 metric tons (MT) per day, a number that jumped to 2,500 MT per day in 2012. This year, Aurcana expects to reach 3,000 MT per day. While exploration is ongoing at La Negra, a report from August 2012 identified 115 million ounces of measured and indicated silver underground. This news changed the mine’s life to at least 30 years.

Avino Silver & Gold Mines (TSXV:ASM), also based in Canada, has 99.28-percent ownership of the Avino mine in the heart of the Sierra Madre Gold-Silver Belt. The mine was discovered in the 1500s and has been in operation, on and off, ever since. The mine has been owned by Avino since 1974, though production shut down in 2001 as a result of low silver prices and the closure of a key smelter. Avino has since reopened the mine. The San Gonzalo zone achieved full-time production in October 2012, while the company is exploring new zones in the area that were discovered in 2011.

Formerly a subsidiary of NSGold (TSXV:NSX), NSX Silver (TSXV:NSYis currently actively mining the Dios Padre mine, located in the Eastern Sierra Madre mountain range about midway between Hermosillo and Chihuahua in East-Central Sonora. NSX believes that the Dios Padre property’s exploration potential is excellent, particularly in the breccia body. The property has been mined since the 17th century and hosts high-grade silver mineralization. Pilot tests have already demonstrated that the property responds well to conventional milling and flotation, yielding a concentrate with 87-percent recovery of silver.

Gold and silver producer Silvermex Resources (TSX:SLX)‘s primary asset is La Guitarra, a property located in the Temascaltepec mining district of Central Mexico. The property, along with the company, was absorbed by First Majestic Silver (TSX:FR,NYSE:AG) in July 2012. The mine covers 98,135 acres and has been mined since the 15th century. Recently, the company completed an expansion program, increasing its silver production capacity by 40 percent, to 500 MT per day. Further planning is currently underway to increase production to as much as 1,000 MT per day. The mine consists of two underground operation centers and a flotation mill.

Vancouver-based Kootenay Silver (TSXV:KTN) is currently exploring its Promontorio mine in Sonora, Mexico; the company recently discovered that the mine contains 92 million silver equivalent (AuEq) ounces. The mine is made up of approximately 197,684 acres and contains an estimated 44.5 million MT grading an average of 64.32 g/t AuEq. Exploration of the area indicates that as many as 92 million ounces of AuEq could be available, with an additional 24 million ounces categorized as “inferred.” The company is approaching a milestone of 1 million ounces of AuEq mined.

Silver companies in Mexico

Silver companies in Mexico

The history of silver mining in Mexico stretches back almost 500 years, when the great silver-gold vein system of the Veta Madre at Guanajuato was discovered in 1550. That area is now known as the Silver Belt, and it stretches from Guanajuato and Zacatecas in the Mesa Central, Chihuahua in the Mesa del Norte and San Luis Potosi to the East. Today, this is the home to silver mining companies from around the world.

"Geologically, there is no better place on earth for silver," said geologist Peter Megaw to The Northern Miner.

Megaw, president of International Development and Exploration and confounder of MAG Silver (MAG-T, MVG-X), has worked in Mexico for nearly 40 years. Last year Mexico produced over 162 million ounces of silver, making it the global leader in silver production.

Though Mexico has long since been a major player on the silver mining scene, the country was not receptive to foreign investors for a large part of the twentieth century. From 1961 to 1991, the Mexican mining law stipulated that mineral assets must be at least 50 percent owned by Mexican companies. In the 1990s, when the law changed to allow 100 percent foreign investment, international companies quickly flocked to reinvest in the country's silver mines, resulting in many new silver sources being uncovered.



Companies to watch in 2013
Fresnillo PLC (FRES:LN) is a United Kingdom-based company which made its debut on the London Stock Exchange in 2008. The group maintains the largest land area of concessions for precious metals exploration and mining in Mexico. In 2012, Fresnillo produced 36.9 million ounces of silver, and the first quarter of 2013 has produced 10.1 million ounces already, putting it up 2.6 percent over the first quarter of 2012.


First Majestic Silver Corporation (TSX:FR, NYSE:AG) currently owns and operates mines in Mexico, with its headquarters in British Columbia, Canada. The corporation anticipates the production of over 11 million ounces of silver in 2013 through their five mines, La Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada Silver Mine, the Del Toro Silver Mine and the La Guitarra Silver Mine.

Endeavour Silver Corporation (NYSE: EXK, TSX: EDR) has seen eight consecutive years of growth since its startup in 2004. The company is mid-tier, focusing on expansion programs at its three operating mines in Mexico, the Guanaceví Mines operation in Durango State and the Bolañitos (formerly called Guanajuato Mines) and El Cubo mines operations in Guanajuato State. A total silver production of more than 5 million ounces is expected in 2013 after a 2012 yield of 4.5 million ounces.

What to keep in mind when investing in silver
Silver, in general, is considered a safe investment. Its worth is not generally going to be greatly affected by political turmoil or economic crisis. However, it should be noted that silver serves as a currency as well as an industrial metal. This gives it behavior similar to that of a currency and may act as an inflation hedge during falling dollar prices.

Silver exploration companies in Mexico


Silver Exploration Companies in Mexico

By - Exclusive to Silver Investing News

As silver mining becomes more widespread and successful in Mexico, many companies are in the process of exploring promising properties.

Southern Silver Exploration Corp. (TSXV:SSV)
Based in Vancouver, Canada, this junior exploration company is currently working on multiple projects throughout North America, including two in Mexico. Southern Silver’s flagship exploration property is the Cerro Las Minitas silver-lead-zinc property located in Durango State, Mexico. It covers over 57.9 square miles, much of which is in Northern Mexico’s Faja de Plata, or Belt of Silver. According to the company’s website, this area has historic production and resources of over 3 billion ounces of silver.

Southern Silver is also in the process of exploring its Minas de Ameca project in Jalisco State. This property contains silver, gold and copper deposits within its 50.6-square-mile area.


Arian Silver Corporation (TSXV:AGQ)
The silver exploration, development and production company focuses primarily on the silver belt in Mexico, specifically Zacatecas State. Its mission is to explore properties with prior exploration and production history in order to best reduce risks and capital costs.

Currently, Arian Silver’s main exploration project is its 100-percent-owned Calicanto Group, which encompasses 7 adjacent properties in Zacatecas. It does not have a current reserve estimate, but during previous production in 1955, a small section of the mines had monthly production of 1,500 to 3,400 dry tons, with an average of 110 grams per ton of silver. The property has since been expanded through exploration.


Aura Silver Resources (TSXV:AUU)
Aura Silver’s concentration is silver and gold in North America. Its major Taviche Project is located in Oaxaca, Mexico, within the San Jose Mining District.

This exploration project is made up of the Taviche East and Alma Delia concessions, according to the company’s website. Within these, research on the Higo Blanco prospect has determined an inferred silver resource of 865,000 metric tons at a grade of 119 grams per ton, amounting to 3.3 million ounces of contained silver.


Kootenay Silver (TSXV:KTN)
The Vancouver-based exploration and mining company is focused heavily on the exploration of its 100-percent-owned flagship Promontorio Silver Project located in Sonora, Mexico. Kootenay Silver’s most recent resource estimate found this property holds an estimated 92,035,000 ounces of silver equivalent, plus an additional 24,326,000 ounces inferred. Promontorio is also estimated to contain sizeable gold deposits.

Currently, the Promontorio property is such a priority that Kootenay is not in the process of exploring any other areas.


NSX Silver (TSXV:NSY)
Also headquartered in Canada, NSX Silver is a mineral exploration company focused on the exploration and development of silver in Mexico. Its primary asset is the Dios Padre project located in the Eastern Sierra Madre Mountain range between Hermosillo and Chihuahua.

The Dios Padre’s past production reached 16 million ounces of silver, according to the company website, and its current exploration potential is considered to be excellent. NSX Silver has plans to produce a resource estimation for the project in the near future.

Nordea sätter köp på Nokia

Analyser

02 JULI 2013
Köp / 32,0 kr

Nokia - helt enkelt för lockande för att avstå

Nokia aviserade igår att banken kommer köpa ut Siemens från NSN, vilka fortfarande kan sikta mot en börsintroducering. Eftersom att transaktionen på 1,7 miljarder Euro står för mer än 50 procent av rabatten i Nordeas värderinguppskattning tar banken en exceptionellt positiv stans till aktien.

Nordea antar att efter Q3, då minoritetsintressen försvinner, kommer att ge betydligt högre estimat. Banken upprepar köp och höjer riktkursen till 3,50 Euro (3,25).

I Nordeas rapport från den 12 juni om NSN, värderade man Siemens ”halva” av NSN till minst 4 miljarder Euro eller 1 Euro per Nokia-aktie. Affären på 1,7 miljarder Euro verkar nästan för bra för att vara sann men den kommer sannolikt att förklaras genom ”trötthet” i Siemens efter mer än sex år som passerat för joint venture och givet att avyttringar av IPO skulle ta ytterligare tre år. Därmed berättigar NSN åtminstone två tredjedelar av Nokias nuvarande aktiekurs med potential att fortsätta uppåt på egna meriter.

Även om förvärvet kommer pressa Nokias balansräkning, anser Nordea att verksamheten klart är gångbar även utan kassaflödet från NSN (1,5 miljarder Euro, av vilka 800 miljoner Euro kan lösgöras) exkluderar potential i nya mått för att lösgöra runt 500 miljoner Euro i kapital genom att sälja fabriker, så som Helsingin Sanomat skrev igår, så väl som positiva kassautsikter för Nokia och NSN under 2013. I samtliga fall, känner Nordea att Nokia kommer få det enklare att adressera skuldmarknader med förstärkt kassaflöde än genom att ha pengar på banken.

Nordea har mestadels förlitat sig på värderingen av ett helhetsscenario för Nokia under den tuffa övergången för divisionen Smart Devices som har återinställt vinster. Fullt ägarskap av NSN innebär en materialpåverkan på vinstmultiplar, som tar tillbaka dem till attraktiva nivåer med ett P/E-tal för 2014 på 12,5, EV/EBIT på 7,2 och EV/EBITDA på 3,7. Nordeas reviderade grundvärdering av bolaget står nu på 4,5 Euro per aktie (ett intervall mellan 3,2 till 5,3 Euro).

Källa: Nordea

måndag 1 juli 2013

Om Kina - en kuliss?

Kina - en kuliss?

 

Det är svårt att förstå och därmed bedöma Kinas ekonomi. Stora kulturella skillnader i agerande och värderingar gör att vi ofta går bet. Samtidigt finns en osäkerhet om huruvida det går att lita på den statistik vi får tillgång till.

Det vi dock vet med säkerhet är att det är ett land med en mycket stor befolkning men där medelklassen utgör bara en del. Å andra sidan ökar nu medelklassen i snabb takt och därmed förhoppningarna om förhöjd levnadsstandard. Denna utveckling skapar såväl möjligheter som risker.

Trots Kinas geografiska storlek finns bara en tidszon i Kina. Ekonomiskt är det, däremot, stora skillnader. Östra Kina, med Peking och Shanghai i spetsen, står inför utmaningen att gå från att vara ett industrisamhälle till att bli en konsumtionsdriven ekonomi, medan västra Kina fortfarande är outvecklat och fattigt.

I mitten av Kina ligger Chongqing och Chengdu, två städer med 29 respektive 14 miljoner invånare, som nu växer i rekordfart. Tillväxten var hela 13 procent 2012. Kina har golv för hur låg tillväxten får vara. I Chongqing är golvet 12 procent i år, vilket kan jämföras med 7,5 procent för Shanghai och riket i genomsnitt.

Samtidigt är inkomsten per person i Chongqing bara drygt hälften av den i Shanghai, medan minimilönen är 35 procent lägre. Å andra sidan är kvadratmeterpriset för ett hus 8 000 yuan i Chongqing, mot 28 000 yuan i Shanghai. Förutsättningarna för hög tillväxt i städer en bit från östkusten är därmed fortsatt goda. Det dröjer innan de slår i tillväxttaket, och viljan är stark till att uppnå samma levnadsstandard som städerna vid östkusten har.

Det regerande kommunistpartiets ambition är också att konsumtionen ska bli en starkare motor i ekonomin. Ett mål är att disponibelinkomsten ska fördubblas från 2010 till 2020. Löneökningar på närmare 10 procent är standard på många håll, vilket i sig ger möjlighet till högre konsumtion. E-handeln ökar i rekordfart, vilket kan vara ett skäl till att konsumtionstalen underskattas. I fjol handlade 210 miljoner personer återkommande på nätet, och antalet växer snabbt.

Befolkningen i Kina är respektingivande 1,3 miljarder människor. Varje år utexamineras 6 miljoner universitetsstudenter. Ska alla individer höja sin levnadsstandard lär det hålla uppe tillväxten ett bra tag till. Löner som stiger så snabbt är, å andra sidan, en utmaning för företagens vinstutveckling, eftersom priserna inte kan höjas i samma takt.

Baksidan av den snabba utvecklingen är miljö och hälsa. Oron för den hälsovådliga miljön är utbredd. Trycket ökar därmed på myndigheterna att göra något. På sikt kan det bli svårt att få internationella företag att flytta till städer där luften är alltför dålig. Det kan också bli svårt att locka välutbildade familjer.

Andra utmaningar är den omfattande korruptionen. Partiet är starkt, och många gynnas av systemet. Det är dock slående hur mycket marknadsekonomin styr även partiets agerande. Stora delar av affärsverksamheten sker genom ledningen i respektive region och stad. Den största utmaningen för partiet blir därmed sannolikt att även på sikt öka levnadsstandarden lagom snabbt så att folket hålls lagom nöjt.

Mycket av det man ser när man reser runt är snyggt och modernt, i flera avseenden betydligt bättre än i Europa. Men det är inte utan att man får känslan av en kuliss – som den vi ser i TV på julafton i Musse Pigg på camping. Frågorna hänger sig kvar: Vad finns bakom kulissen, vad är det vi inte förstår och därmed missar?