roll on the 26th of august

Back from a break and as there’s not much happening just thought this was interesting if no one saw it.

The Western Australian Chamber of Minerals and Energy (CME) has called on miners to stop the ongoing decline of mineral and petroleum exploration in the state, after recording a decline for a third consecutive quarter. “While the decline over three quarters in exploration expenditure is likely due to the weak commodity price and high-cost environment, every effort should be made to arrest this decline,” said CME acting CEO Nicole Roocke. During the quarter ended March, total mineral and petroleum exploration declined by 22% to A$1.14-billion compared with the previous quarter, after falling 4% in the December quarter. This is the third consecutive quarter mineral exploration has declined. Compared with the corresponding quarter a year ago, mineral exploration is now 14% lower. CME has been calling for incentives similar to the Canadian flow-through share scheme, such as a minerals exploration tax credit, to boost the sector. “To establish a future pipeline of projects we rely upon increasing the current level of exploration activity here in Western Australia,” said Roocke. “Notwithstanding the transition under way in many major projects from construction to operational phase the future pipeline of projects relies upon increasing the current level of exploration activity here in Western Australia.” She noted that policies such as the Western Australian government’s Exploration Incentive Scheme were welcomed by the resources sector and would deliver a significant return to the people of Western Australia. “As we move closer to a federal election, CME looks forward to a serious policy discussion across all major political parties about how to reduce the costs of doing business and strengthen the Australian resources sector’s international competitiveness,” Roocke added.

Though investors are seeing some value in some current stocks with increased prices, still equity for these companies remains tight. Equity makes BLY’s rigs turn pipe.

Having a look at that graph made me laugh when I watched this online http://www.youtube.com/watch?v=cDpPlrHgquM