Sportgamma Posted September 30, 2012 Share Posted September 30, 2012 Oddly we actually did use the central bank auction, & also hold some Marel. As at Friday the FX rate was 126 ISK to the $C (around 150 ISK using the central bank auction), & Marel was at 135 ISK - or $C 0.90. OK, so you have to hold for a minimum 5 years - but we don't see any similar quality juniors about at comparable prices - even if the market falls off the fiscal cliff. Iceland is not that far away, the people are very friendly, & x-country skiing under the northern lights is pretty special. Agreed on the Real Estate, but players who haven't failed by now are most likely not going to. We're on the property management side, & one of our partners has deep experience in the business. With Marel the currency is not that much of an issue as the revenue streams are for most parts in foreign. Also the operational leverage mean that minor improvements in efficiency and/margins will have a big impact on the equity value. Where did you ski and who was your guide? Link to comment Share on other sites More sharing options...
SharperDingaan Posted September 30, 2012 Share Posted September 30, 2012 We've only been over once so far & that was in summer. Holed up in Reykjavic to do the DD & sign-offs, then a self drive tour along the South & West Coast. Rather not say who we talked to - as Iceland is a VERY small place! The plan is to return/vacation every 18 months or so, over summer & winter. We x-country ski in Southern Ontario, Algonquin NP, & Quebec. Occasional dog-sledding as well around Thunder Bay & Whitehorse. Link to comment Share on other sites More sharing options...
Sportgamma Posted September 30, 2012 Share Posted September 30, 2012 We've only been over once so far & that was in summer. Holed up in Reykjavic to do the DD & sign-offs, then a self drive tour along the South & West Coast. Rather not say who we talked to - as Iceland is a VERY small place! The plan is to return/vacation every 18 months or so, over summer & winter. We x-country ski in Southern Ontario, Algonquin NP, & Quebec. Occasional dog-sledding as well around Thunder Bay & Whitehorse. I thought that you had gone x-skiing in Iceland, so I was wandering who your ski-guide was as I know a few (and as you say, its a very small place). I'd definitely recommend Jökull Bergmann (he's the only IFMGA Internationally certified mountain guide in Iceland and he is a member of the Association of Canadian Mountain Guides ACMG): http://www.arcticheliskiing.com/en/media/videos http://www.arcticheliskiing.com/en/media/photo-gallery/best-of-arctic-heli-skiing And Arctic Adventures: http://www.adventures.is/ http://www.glacierguides.is/ Well, if/when you're heading over, you're more than welcome to drop me a line if you want to catch a beer/coffee. Link to comment Share on other sites More sharing options...
Packer16 Posted September 30, 2012 Share Posted September 30, 2012 Sportgamma, Do you have recommended local broker who handels US citizens accounts. Thx. Packer Link to comment Share on other sites More sharing options...
LC Posted September 30, 2012 Share Posted September 30, 2012 Sportgamma, Do you have recommended local broker who handels US citizens accounts. Thx. Packer Wouldn't IB be able to give you access to the Icelandic market? Sorry if I am missing something here... Link to comment Share on other sites More sharing options...
alpha231616967560 Posted September 30, 2012 Share Posted September 30, 2012 Electricity provider NRG is also cheap and call on NG prices. Packer I have also been looking at this sector and came away with the idea to start a small position in Exelon, which will also benefit from higher NG prices and has maintained a strong profit stream. It is also yielding 6% presently. Any reason that you like NRG better? Link to comment Share on other sites More sharing options...
Sportgamma Posted September 30, 2012 Share Posted September 30, 2012 Sportgamma, Do you have recommended local broker who handels US citizens accounts. Thx. Packer I'd say HF Verðbréf, they are independent (not one of the big banks), especially if you're considering participating in on of the currency auctions. http://hfv.is/en/cm Link to comment Share on other sites More sharing options...
Sportgamma Posted October 10, 2012 Share Posted October 10, 2012 Bank Nordik http://www.euroland.com/omx_attachments/2012-08/493647-0-is.pdf Market price (DKK) = 69 Book value = 200 http://www.euroland.com/SiteFiles/company/company.asp?GUID=5941796F2BE0B74F95F8EDC073CE5316&Isin=FO0000000088&MarketID=15&CompanyCode=FO-BANK&Customer=1&ShowMyShares=true&menuitem=90&wtlang=English http://en.foroya.fo/Admin/Public/Download.aspx?file=Files%2fFiler%2fRating%2fcreditopinion2001feb.pdf Link to comment Share on other sites More sharing options...
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