Lake Shore Gold - transaction

• Transaction: bought 200 at 3.94 CAD
• Transaction: bought 200 at 3.64 CAD
• Transaction: bought 200 at 3.49 CAD
• Sprott thesis price: 3.23 CAD
• Private placement prices: 4.43 and 5.94

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2009) – Lake Shore Gold Corp. (TSX:LSG) ("Lake Shore Gold," "the Company" or "LSG") today announced an agreement with Hochschild Mining Holdings Ltd. ("Hochschild"), a wholly owned subsidiary of Hochschild Mining plc (LSE:HOC), to raise $85.0 million through a private placement transaction for 19.2 million shares at a price of $4.43 per share. In addition, the Company announced a non-brokered structured flow-through financing co-led by Wellington West Capital Markets Inc. and Canaccord Capital Corporation for the issuance of 2.7 million shares at an average price of $5.94 per share for net proceeds of $15.0 million.

DLC intraday trading

• Look at 2, 5, 10, 15 minutes excess return
• Use ER filters: 30 min, 1 hour, 2 hours, 1 day, 3 days, 5 days
• Bet on reversion but only on the "right" side (only Buy cheaper DLC).
• Plot returns (TW-style) of the pairs trade - 2, 5, 10, 15, 30 minutes.

Sergey's super div trade

Mispriced options due to wrong estimate of the ex-div date:

Once every X years board meeting date shifts due to weekend and market forgets about that. Options are priced as if market is not sure whether ex-div will be Friday (expiration) or Monday. If you go on Google Finance and look at dividend history carefully you can figure out what the date will be, price options correctly and capture the dividend for free.

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PEORIA, Ill., Oct. 14 /PRNewswire-FirstCall/ -- The Board of Directors of Caterpillar Inc. (NYSE: CAT) today declared a quarterly cash dividend of forty-two ($0.42) cents per share of common stock, payable November 20, 2009, to stockholders of record at the close of business October 26, 2009.

"Team Caterpillar's remarkable performance and rapid response to the global economic downturn over the last year has been a fundamental factor in our ability to maintain an attractive dividend," said Caterpillar Chairman and Chief Executive Officer Jim Owens. "Our financial strength during this recession enables Caterpillar to continue a long tradition of rewarding stockholders. In fact, over the last 10 years, our total stockholder return (stock appreciation plus dividends) is more than 200 percent."

The $0.42 dividend maintains the dividend rate from the previous quarter. Including the announcement today, Caterpillar has paid a cash dividend every year since the company was formed in 1925 and its cash dividend has nearly tripled since 1998.

Sprott thesis (August 2009):

Gold...the Ultimate Triple-A Asset

CGA Mining Limited (TSX: CGA, ASX: CGX): CGA is focused on their Masbate open-pit mine in the Philippines. The company has already defined over 7 million ounces with plenty of exploration potential remaining. After acquiring the project in March 2007, CGA moved quickly to put it into production with the first gold pour taking place in May 2009. The current plan is to produce around 200,000 ounces per year, but an increased production rate can be achieved through an expansion of the processing plant.

Lake Shore Gold Corp. (TSX: LSG): Lake Shore is an emerging producer based in the prolific Timmins mining camp of northern Ontario and Quebec. The company is run by an experienced management team and is ramping up production to 200,000 ounces per year by 2011 from two 100%-owned mines. Lake Shore also has great exploration potential at their Thunder Creek joint venture with West Timmins Mining, where the partners have reported multiple high grade intercepts, including 83.4 meters of 12.75 g/t.

La Mancha Resources (TSX: LMA): La Mancha was created in 2006 from the fusion of the gold assets of AREVA with exploration properties of La Mancha Resources Inc. We are expecting La Mancha’s attributable production in Australia and Africa to increase to 150,000 ounces in 2011. The greatest exploration potential for La Mancha lies at the Hassai property in Sudan, where drilling is beginning to outline what could become a major gold-copper VMS deposit.

Medusa Mining Limited (ASX: MML, AIM: MML): Like CGA, Medusa is based in the Philippines and is operating the high grade Co-O mine. The mine is on track to increase production to 100,000 ounces per annum with very low cash costs of US$200/ounce. Medusa is aggressively drilling on the property and has recently announced a doubling of reserves.

Norseman Gold Plc (ASX: NGX, AIM: NGL): Norseman operates Australia’s longest continually operated gold mine called the Norseman Gold Project. After undergoing operational restructuring in late 2008, the company has been successful at reducing costs and increasing production. Norseman has been producing gold at a rate of around 80,000 ounces per annum, but the company’s goal is to increase production to over 100,000 ounces by filling capacity at their underutilized mill.

Price, Jul-31-09 2011 Earnings Est, 2011 P/E

CGA Mining Ltd. $1.46 $0.34 4.3 x

Lake Shore Gold Corp. $3.24 $0.35 9.3 x

La Mancha Resources $0.93 $0.22 4.2 x

Medusa Mining Ltd. A$2.69 A$0.57 4.7 x

Norseman Gold Plc A$0.70 A$0.23 3.0 x

Gold Juniors ETF: Market Vectors Junior Gold Miners (GDXJ) y Van Eck Global.