(Point or Two, taken from Your last Posting T.M.) Now for THR,THR is just One of Many Specie Class of Resource Stocks that has Declined in Price during the Last Six Months or so and I have found this is all Linked to the Sub Prime Problems in the U.S.A.which has Undermined Investment Confidence.
The following Posting from BLR indicates that a solution could be close at hand and this could see some Confidence return to the Markets and no doubt this will assist THR:-
Quote/ Code: BLR - BLACK RANGE MINERALS LIMITED (Google BLR) Post: 2342459 Reply to: #2342377 from grant64 Views: 86 Posted: 30/11/07 23:45 Sentiment: ST Buy Disclosure: Stock Held From: 210.10.xxx.xxx New Post Post Reply Thread View Back << Previous Post Next Post >>
Hello Grant64,
As per my previous recent Postings the Subprime Situation has given most of the Specie Stocks the Shivers, however the following Quote from www.bloomberg.com indicates that the situation could soon Improve for holders of BLR,WHE,etc.
Quote:- / Paulson, Banks in Talks to Stem Surge in Foreclosures (Update1)
By Alison Vekshin and Craig Torres Enlarge Image/Details
Nov. 30 (Bloomberg) -- U.S. Treasury Secretary Henry Paulson is negotiating an agreement with banks to stem a surge in foreclosures by fixing interest rates on loans to subprime borrowers, according to people familiar with a meeting he led yesterday.
Paulson, who will address a housing conference on Dec. 3, presided over a one-hour gathering at the Treasury Department in Washington with federal regulators, bankers and lobbyists. Citigroup Inc., Wells Fargo & Co. and Washington Mutual Inc. executives attended, said a person present, who spoke on condition of anonymity.
The Bush administration cut its forecast for economic growth yesterday, reflecting a deepening housing recession that's roiled financial markets since August. The Commerce Department reported the same day that the median price of a new house fell 13 percent in October from a year earlier, while fewer homes were sold than economists anticipated.
``One of the roles of Treasury is to say `come on, let's get together and see what we can do,''' said Wayne Abernathy, executive director of financial-institutions policy at the American Bankers Association in Washington and a former Treasury assistant secretary. ``You're likely to come up with something that will work both in the marketplace and honor the sanctity of the contracts involved.''
Bair, Dugan, Reich
Paulson was joined yesterday by Federal Deposit Insurance Corp. Chairman Sheila Bair, Comptroller of the Currency John Dugan and Office of Thrift Supervision Director John Reich. Also represented was the American Securitization Forum, which lobbies for investors, traders, underwriters, accounting firms, ratings companies and other institutions involved in the creation and sale of mortgage-backed securities.
Bair has proposed letting borrowers with adjustable-rate subprime mortgages, who are living in their homes and unable to afford resets, get extensions on the starter rate for at least five years. They could also be offered 30-year fixed-rate loans. Reich prefers a three-year freeze.
Subprime loans, given to people with poor or incomplete credit histories, typically offer a low introductory rate for the first two or three years. The rate then resets for the duration of the mortgage, usually 30 years. About 100,000 subprime loans will reset to higher rates each month over the next two years, according to UBS AG.
`Transparent Process'
``There needs to be agreement and commitment to modify the loans, and there needs to be a transparent process whereby we can monitor the agreement,'' Bair said in an interview in Washington this month.
Jennifer Zuccarelli, a Treasury spokeswoman in Washington, declined to discuss the meeting in detail. ``We are encouraged progress is being made,'' she said.
Delinquencies on subprime mortgages, which account for less than 15 percent of the $11.5 trillion U.S. home mortgage market, climbed after what Fed officials labeled ``lax'' lending standards spread the past two years. Homeowners were behind on 17 percent of adjustable-rate subprime loans in June, compared with 4.2 percent for prime mortgages of the same type, Mortgage Bankers Association data show.(Continues)/End Quote
No responsibility taken for any Loses in association with this Posting.
Regards,
moly
THR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
(20min delay)