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By: The_Gold_Report
The past year was a very tough one for the junior gold mining sector. In this interview with The Gold Report, Brien Lundin, CEO of Jefferson Financial, says that the past year has, in fact, put many gold mining companies on the bargain basement shelf. He shares some advice on end-of-year portfolio repositions and talks about some of his favorite stocks that he believes are poised for a rebound in 2013.
The Gold Report: Brien, in late October you and your company Jefferson Financial hosted the New Orleans Investment Conference. What were some of the commodity-related themes consistently making the rounds there?
Brien Lundin: The buzz was that the underlying fundamentals for precious metals would remain bullish regardless of who won the election. But if President Obama were re-elected, then all of the factors favoring gold and silver would become dramatically more bullish.
TGR: You wrote about that in the November edition of Gold Newsletter. Here's a quote from that edition of your newsletter: "The bottom line is that President Obama's re-election means that you need to buy gold and silver, and things that will retain their value as the dollar loses its value." Why were things different on Nov. 7 than they were the day before?
BL: Even before the election, the economic and fiscal situation for the United States was pretty dire. In my view the only hope of recovery and reform, without a major ongoing crisis and very significant inflation, would be if the Paul Ryan plan were to be put into effect immediately.
Instead, we now have the same administration that took the emergency one-year spending levels enacted to keep the economy from crashing during the 2008 credit crisis, and has now made those massive spending levels the new baseline going forward. The difference is that the Obama administration is now unrestrained by the prospect of another election, so the trajectory of government spending is actually being steepened.
TGR: In another passage of the same edition of Gold Newsletter you wrote: "The coming inflation will be similar to what we've experienced in recent years. Huge pools of loose money will continue to flow into commodities and financial assets." What makes you certain that we won't see another round of risk-off sentiment if things go as badly as you suggest they will?
BL: The risk-off episodes that seized the investment markets over the past few years are in reaction to potential fiscal crises in the U.S. and Europe. This headline risk sent investors running to the safety of cash, specifically to the U.S. dollar. This seems counterintuitive, but investors are looking for short-term safety.
When the perceived risk is one of long-term currency debasement, then gold is the preferred safe haven. My whole bull market thesis for gold is based on a developing consensus that neither Europe nor the U.S. is going to face collapse anytime soon. Rather each will be kept afloat on a sea of new money printing by both the Federal Reserve and the European Central Bank. In such an environment, gold and silver are going to absolutely take off.
TGR: Do you think that lack of practicality of gold hampers its status as a safe haven?
BL: Not today. Gold is very liquid. A lot of speculators use the exchange-traded funds (ETFs), which I recommend for trading the metals. But I don't recommend ETFs for core holdings.
In fact, one of the things that is keeping the market buoyed currently is the tremendous retail investor demand for the metals. That comes in the form of skyrocketing physical sales of coins and bullion, and in the ETFs. Metals holdings of the ETFs are at record levels. Coin demand is at near record levels. Yet we see the price moribund due to the whims of speculative demand.
TGR: It's interesting that you're pro ETFs, because most gold bulls aren't. Is this a new tack for you?
BL: Not really. You know a lot of the hard-core goldbugs are somewhat doubtful of whether the EFT gold is actually there. I recognize those concerns, so I don't recommend ETFs for core physical metals holdings, just for trading.
TGR: When should equities enter the mix for a retail investor?
BL: Simply put, right now. The junior resource stocks have been absolutely decimated over the past year. There are bargains galore right now if you have cash to buy them.
TGR: Are these bargains mostly market related or is this part of tax-loss selling season?
BL: I don't really distinguish between the two. We've had a lousy year for the equities. When we have had risk-on environments, they have not lasted long enough to where it filtered down to the highly speculative junior resource equities.
We also have an unusual situation this year where we have not only tax-loss selling but also tax-gain selling as investors take profits to avoid higher capital gains taxes next year. When you combine that with the junior stock market that has been depressed all year, some incredible bargains emerge. I'm pinpointing a number of them in Gold Newsletter right now.
TGR: Let's talk about some of the equities that you follow. You said in a recent edition of your newsletter that Almaden Minerals Ltd. (AMM:TSX; AAU:NYSE) has "opted to forego" the prospect-generator model in an effort to develop the promising Ixtaca gold-silver deposit in Mexico that's part of the Tuligtic project. Is that your opinion?
BL: Yes. I have never been a big believer in the prospect-generator business model as an absolute. It should be a business model, not a religion. So when a junior explorer comes across a prospect that is particularly exciting and can provide rapid value advancement with relatively little risk, then I think the company should explore that project fully.
Almaden was the poster child for the prospector-generator model for years. But Morgan and Dwayne Poliquin had the vision and the foresight to see that Ixtaca could be different. Their decision has paid off in spades. Almaden right now is one of my top recommendations and I think that deposit is going to get much bigger than the company's current market cap is indicating.
TGR: Almaden has about $36 million (M) to continue to develop Ixtaca. Do you think that it will sell that project, dividend the money out to shareholders, and then continue on its way? Or do you think it will sell the whole company? Or would it do something similar to what Virginia Mines Inc. (VGQ:TSX) did when it took all the other projects out of that company, put them in a new company, and sold that company to Goldcorp Inc. (G:TSX; GG:NYSE)?
BL: Typically in a case where a company has a number of earlier-stage projects, and it has one major project for which it is primarily being valued, then management will sell the company. Usually you'll see a spin off of those other projects into a new vehicle so that shareholders can keep the benefit of that other property portfolio that really isn't adding value to the transaction. That's a process to fund that new company as well.
TGR: You?ve also written that Brigus Gold Corp. (BRD:NYSE.MKT; BRD:TSX) looked "undervalued" in early November after Brigus bought back much of its gold royalty stream from Sandstorm Gold Ltd. (SSL:TSX.V). Tell us about that deal and the market's reaction to it.
BL: There are a few keys to Brigus Gold and the opportunity it presents. First, the company ran into operational problems when it was trying to ramp up production at its Black Fox Mine, prompting a decline in the share price.
Those production hiccups have been solved and production is now growing. Yet the company's shares are on sale. In addition, there is the exploration drilling the company is doing on its Grey Fox property near the Black Fox Mine. In particular it is getting tremendous results from a high-grade zone called the 147 Zone. Those results are normally enough to absolutely catapult the value of a junior explorer. But the results are getting lost in the shuffle because Brigus is a production story. In fact, this Grey Fox property will become the company's next mine.
TGR: Another company you follow is Comstock Metals Ltd. (CSL:TSX.V). You see more promise in the recent drill results from the company's QV project in the Yukon than the market does. Give us your thoughts on that.
BL: Comstock is a case where expectations were really high before the first drill results came in. The results were actually quite good, but not quite up to the elevated expectations. So the share price sold off, which was unwarranted.
The first results showed the potential for a nice sized deposit at the VG Zone. Importantly, the company also outlined a number of other drill targets from soil sampling and trenching. The real key for Comstock will come with next year's exploration program. The company's geologists plan to mount a comprehensive attack on all those highly prospective targets.
I think Comstock is a longer-term story. It's not going to be built on a few drill holes or even a couple of rounds of drilling. It's a project that has a number of very exciting targets. It's a cross between the Underworld Resources story, which had the Golden Saddle deposit just about 10 or 11 kilometers to the south, and the Kaminak Gold Corp. (KAM:TSX.V) story not far away. Kaminak had a number of anomalies that it had to drill off and is only now starting to connect those anomalies with mineralization.
There's a lot of potential in Comstock. I see some very exciting analogs in the area and the mineralization that it has seen so far is very, very similar to that at the Golden Saddle discovery by Underworld. That discovery was a big winner for Gold Newsletter readers, when Kinross Gold Corp. (K:TSX; KGC:NYSE) took over Underworld at a big premium.
TGR: One hole cut 89.9 meters of 2.34 grams per tonne gold. Could this be a bulk tonnage starter?
BL: That wasn't a very deep intersection, so it could be bulk tonnage. People tend to feel that the grades in the Yukon have to be very high even for a bulk-tonnage or an open-pit deposit for the economics to work. But this whole area is becoming ripe with new discoveries and infrastructure will follow, and, at some point, it's also going to be ripe for consolidation. So I think that the current grades are very close to what a company would need to make a deposit work in the Yukon.
TGR: What did you make of the recent friendly merger between Keegan Resources Inc. (KGN:TSX; KGN:NYSE.MKT) and PMI Gold Corp. (PMV:TSX.V; PVM:ASX; PN3N:FSE)?
BL: It was a great deal for both companies. Everyone's been waiting for one of the majors to come in and scoop up one or both of these juniors and consolidate the projects in this area of Ghana. But those takeovers never happened. So these two management teams essentially decided to do it on their own.
In the near term, this isn't a big share-price catalyst. But considering that the combined companies can now fully find the development of the more advanced Obotan project of PMI and get into production, the financing risk is removed essentially for both projects.
Obotan should get into full production by 2015 at around 200,000 ounces (oz)/year. By 2017, Keegan's Esaase project will get added to the mix and bring production up to around 385,000 ounces annually. The bottom line is that we now have either a must-have acquisition by a major or the emergence of a new midlevel producer with the potential to continue consolidating the region.
TGR: Do you see this as an investible theme? Companies with nearby development-stage projects that are suffering from markets that aren't all that flush with cash getting together?
BL: In this case, both of these companies are fairly well funded. I see them as being potential aggressors in a new round of merger and acquisition activity. These companies also have additional exploration potential. Keegan just made a new, very important property acquisition. It was a property swap with the Ghana government that it's been working on for years and where the company sees the potential for some sizable extensions to the Esaase mineralization. So the story could get bigger on every front.
TGR: You recently added some companies to the rather lengthy list of ones that you cover. One of them is Precipitate Gold Corp. (PRG:TSX.V), which is seeking gold in the Dominican Republic. Does it concern you that it has only $1.8M in exploration capital?
BL: Not really. That amount is actually a decent treasury compared to the peer group. There are hundreds of companies in the junior resource sector now that only have a few $100,000 in the treasury. The company, though, will have to raise more money to advance its projects in the Dominican Republic.
There is potential for further dilution, but the share structure is fairly tight. There's only about 24?25M shares outstanding, no warrants overhanging the stock, and the company is well-held by a strong group of financiers. Bottom line is I don't think they'll have any problems raising additional funds if needed.
TGR: Another company that's exploring the Dominican Republic is GoldQuest Mining Corp. (GQC:TSX.V). It recently had some less than ideal drill results and the market reacted negatively to those. Was Precipitate affected adversely by association?
BL: Absolutely. GoldQuest was another case where the expectations were raised really high. The first few drill holes from GoldQuest were just phenomenal and it would have been very difficult to continue that. GoldQuest really hit the honey holes right at the beginning.
But now the hype has definitely died down from the whole Dominican Republic play and Precipitate did suffer from that. The hype over the Dominican Republic helped obscure Precipitate's outstanding property portfolio in the Yukon and British Columbia, where it has about 19 highly prospective properties that were acquired for really valid geological reasons. That's the side of the company where I expect the next really important exploration news will come from.
TGR: What are some other companies that you follow that could see a rebound in 2013?
BL: The list is starting to grow a bit long. But there are really some remarkable bargains right now as the year draws to a close. Investors should concentrate on companies with either proven resources and/or the likelihood of big news on the near-term horizon.
Some of the prime examples that I would throw into this category are Cayden Resources Inc. (CYD:TSX.V), International Tower Hill Mines Ltd. (ITH:TSX; THM:NYSE.MKT), Gold Standard Ventures Corp. (GSV:TSX.V; GDVXF:OTCQX), Kaminak Gold, and Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX; LY1:FSE).
TGR: Let's start with Cayden. That's a story that's largely unfamiliar to our readers, with the La Magnetita target in Mexico.
BL: What's important about Cayden is that there are a few aspects to the story. There's the property position that it has at the Morelos Sur gold project. It actually partially surrounds and transects the largest producing gold mine in Mexico, Los Filos, which is owned by Goldcorp.
That mine has to expand, and in fact, it's already encroaching on the surface onto Cayden's property position. That means there's going to have to be some kind of a financial accommodation done there and it could be significant for the company.
In addition, Cayden has the land between the two producing pits on Goldcorp's mine and Cayden has drilled that. It has shown that there is mineralization trending from between those two pits at depth on its property. So Cayden has proven mineralization and an obvious natural buyer for whatever it can prove up.
Then you have the La Magnetita target. The key to that is that every mine and discovery in the Guerrero Gold Belt has been identified through geophysical means. Importantly, La Magnetita is the largest geophysical anomaly in the belt. To date Cayden has gotten some outstanding sampling and trenching results, and is now drilling, so I'm very excited about that potential.
TGR: International Tower Hill is a story that took off a few years ago and seems to have stumbled more recently. What's happening with the company now?
BL: Its Livengood gold project is a case of a really large project with lower grades. The project is still economical, but you have to get the majors out there ready to buy up such a project. That will likely happen, but only when we have a sense of normalcy in the market that we haven't had in the last 18 to 24 months.
TGR: How about Kaminak? We talked a little bit about the Yukon with Comstock and Kaminak's right there too in the White Gold District.
BL: Yes, it is connecting all of these various anomalies on its property and building up a resource that, in its recently released maiden resource estimate, is already totaling over 3.2 million ounces of inferred resource.
Kaminak has come off a good bit and could be a prime takeover candidate. It's being derisked with every drill hole. The company has had incredible success so far and it has just completed one of the most aggressive drill programs to be seen in the junior resource world in many years.
At the current price levels, it's hard to get hurt in Kaminak.
TGR: Gold Standard Ventures, which owns the Railroad gold project in north central Nevada, is a made-in-America story. What's the next catalyst for Gold Standard?
BL: This was a slow motion discovery. When the company first came public, I didn't recommend it in my newsletter because I thought it was too expensive.
The company's first results weren't spectacular by any means, but they were technical successes?not market successes. However, once you understood the story and talked to the geologists, you understood that the company was vectoring in on something that could be big. We were able to get our readers in on the stock before the big run up, which was just wonderful timing, after it had declined a bit after it first came public.
The geologists kept vectoring in on the mineralization while proving up the geological concept, until they eventually found the higher-grade mineralization. At this point, it is still trying to fully understand the mineralization and get a much better handle on it. I think what you'll see is that Gold Standard will be able to advance the resource to a much greater degree over the coming months. This is another example of those very hot stories that have come back a good bit, yet have a proven discovery, and the company will just keep drilling to prove up a resource.
TGR: What's happening with Lion One?
BL: Lion One is progressing with permitting and development of its Tuvatu gold project in Fiji, a project with upside potential that I don't believe is being valued by the market at all. Over $30M was spent on this project by Emperor Mines Ltd. in the late 1990s, including over 85,000m of drilling and 1,600m of underground infrastructure.
All Lion One has to do is dust off and update an existing feasibility study, and get the necessary permits to get into production. It is doing that right now, and will use proceeds from Tuvatu to fund exploration of the multimillion-ounce potential of the project.
Management, including legendary financier Walter Berukoff, owns about 40% of the company, so it has solid support going forward. It's a great buy at these levels.
TGR: It's the end of the year and some retail investors are wondering what to do with their portfolios and if they should make some changes. Is there a process that you go through at the end of the year?
BL: The end of the calendar year is a natural time to clean up a portfolio and rationalize things. But it is also the time of the year that you typically have tax-loss selling that creates a dampening effect on the markets and sometimes creates some pretty attractive bargains. This year, as I said, we've had some screaming bargains created.
I think what investors need to do, and we're doing it with our Gold Newsletter portfolio as well, is to look at the number of companies that you can adequately follow. If you're able to find some really attractive opportunities in this kind of an environment, you need to start switching into these faster horses in exchange for some of the slower horses in your stable. Just turn over the portfolio a bit, rearrange it and get prepared for the future.
It's especially important if you can find companies that are better positioned going forward than the ones you have in your portfolio and you can realize some tax losses going forward. There's no reason to play the psychological games of holding on to a loser just so you can get back what you paid for the stock. Be ready to break emotional ties, sell a company and put the money on a better bet going forward.
TGR: We'd be remiss if we didn't ask a gold bull like yourself to tell us what you think the coming year has in store for gold. Please give us your thoughts on that.
BL: It's going to be a very good year for precious metals and mining stock investors. Once we get through these end of year trading games and that fiscal cliff fiasco, the markets should settle down into an environment where everyone recognizes that massive money printing will continue for years to come. This is the fundamental story that's going to drive metals prices higher and in this environment the equities will begin to benefit once again.
There's also a very powerful technical picture developing. Both gold and silver are tracing out a cup-and-handle formation similar to the ones they formed during the 2008 credit crisis and the subsequent recovery from that crisis. After that, the metals rocketed higher out of those cup-and-handle bottoming formations. I fully expect a similar performance this time around, which would be a pretty exceptionally profitable situation for gold bulls.
TGR: Thanks, Brien, for your insights.
With a career spanning three decades, Brien Lundin serves as president and CEO of Jefferson Financial, a highly regarded publisher of market analyses and producer of investment-oriented events. Under the Jefferson Financial umbrella, Lundin edits and publishes Gold Newsletter, a cornerstone of precious metals advisories since 1971. He also hosts the New Orleans Investment Conference, the oldest and most respected investment event of its kind.
Want to read more Gold Report interviews like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent interviews with industry analysts and commentators, visit our Interviews page.
DISCLOSURE:
1) Brian Sylvester of The Gold Report conducted this interview. He personally and/or his family own shares of the following companies mentioned in this interview: None.
2) The following companies mentioned in the interview are sponsors of The Gold Report: Almaden Minerals Ltd., Goldcorp Inc., Brigus Gold Corp., Precipitate Gold Corp., International Tower Hill Mines Ltd., Gold Standard Ventures Corp. and Lion One Metals Ltd. Streetwise Reports does not accept stock in exchange for services. Interviews are edited for clarity.
3) Brien Lundin: I personally and/or my family own shares of the following companies mentioned in this interview: Comstock Metals Ltd., Keegan Resources Inc., Precipitate Gold Corp., Cayden Resources Inc., Kaminak Gold Corp. and Lion One Metals Ltd. I personally and/or my family am paid by the following companies mentioned in this interview: None. I was not paid by Streetwise Reports for participating in this interview.
Streetwise - The Gold Report is Copyright ? 2012 by Streetwise Reports LLC. All rights are reserved. Streetwise Reports LLC hereby grants an unrestricted license to use or disseminate this copyrighted material (i) only in whole (and always including this disclaimer), but (ii) never in part.
The Gold Report does not render general or specific investment advice and does not endorse or recommend the business, products, services or securities of any industry or company mentioned in this report.
From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles on the site, may have a long or short position in securities mentioned and may make purchases and/or sales of those securities in the open market or otherwise.
Streetwise Reports LLC does not guarantee the accuracy or thoroughness of the information reported.
Streetwise Reports LLC receives a fee from companies that are listed on the home page in the In This Issue section. Their sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.
Participating companies provide the logos used in The Gold Report. These logos are trademarks and are the property of the individual companies.
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Bob Hattoy, the late and hilariously funny environmental activist and friend of President Bill Clinton, used to crack us up at friends' gatherings in Washington, D.C., with his quip, "I used to be a legend. Now I'm a cautionary tale."
In 1992 Hattoy became the first openly gay man living with HIV/AIDS to address the Democratic National Convention. "I am a gay man," he told the convention, "and I have AIDS."
Hattoy succumbed to AIDS-related complications on March 4, 2007, at age 56. The New York Times obituary quoted AIDS activist Michael Petrelis as saying, "Bob Hattoy gave people with AIDS and gays in America hope with that [1992] speech."
On Dec. 18, 2012, another gay man who was something of a legend among AIDS activists also became a cautionary tale. Spencer Cox, age 44, died from advanced untreated HIV disease -- also known as AIDS - -after two decades of helping lead the charge against the epidemic that continues to ravage the lives of far too many gay men.
Cox became a leader in the fight against AIDS, joining ACT UP in New York in 1989 and co-founding the Treatment Action Group (TAG) to work with scientists in advancing the development of medical treatments for HIV.
"It's a great loss," said Dr. Anthony S. Fauci, director of the National Institute of Allergy and Infectious Diseases (NIAID). "He was part of a historic group of people."
Mark Harrington, another legendary AIDS activist and the co-founder and executive director of TAG, told The New York Times that Cox had struggled with an addiction to crystal meth -- and had apparently stopped taking his HIV medication. "He saved the lives of millions," said Harrington, "but he couldn't save his own."
In his 1992 speech Bob Hattoy quoted Martin Luther King, Jr., who said, "Our lives begin to end the day we become silent about things that matter."
It's high time for gay America finally to end the silence and speak out boldly about the plague of crystal meth addiction and abuse in our community that contributed to Spencer Cox's death -- and continues to destroy the lives of so many others. I have reported on it and have personally seen it destroy the careers, relationships and sanity of more than a few gay men.
But it's completely backwards to be angry at Cox, or anyone else, for inflicting such harm on themselves. Addiction is brutal, and beating people up for being addicted and harming themselves does nothing but reinforce the reasons that gay men turn to drugs and risk their lives to have unprotected sex with strangers of uncertain HIV status.
If we want to address the destruction of crystal meth and reckless sex in our community, we need to talk honestly about the reasons these things seem so appealing in the first place. Simply put, they offer vulnerable men the chance to anesthetize the pain of being gay and, for those of us living with HIV, the rejection and stigma we experience from other gay men.
Even in 2012 it is damned hard to be a gay man in America. For all the progress we've made toward almost being treated as equal, there continue to be daily challenges -- particularly for those of us who haven't constructed our lives in a way to exclude others who aren't gay. The ghetto might provide a sense of security, but it's not so different from the altered reality provided by drugs. Leave the safety of that segregation, come down from the trip, and reality can bite. Hard.
Being "openly gay" is a whole different experience for those of us who live in smaller towns and cities, surrounded by married heterosexuals and their children, possibly by our own family of origin. It's hard to be constantly reminded that you are "different," as most of us know from our childhoods.
And for anyone who believes the stigma of HIV among gay men is a thing of the past, I have news for you.
Take a look some time, if you don't secretly already, at the profiles on Manhunt, Adam4Adam or Craigslist. The code words "clean" and "DDF" (drug and disease-free) pop up everywhere. They don't need to spell it out to make it clear that these men consider those of us with HIV to be "unclean" and most certainly unworthy of their consideration. Ironically, of course, these men betray their delusional belief that strangers online actually know and will be truthful about their current HIV status in the heat of the sexual chase.
Too many gay men's lives have ended too soon because of the silence in our community about crystal meth addiction and the high-risk sex that tends to go hand in hand with it.
But instead of being angry at men like Spencer Cox for their self-destructive behavior, how about directing our anger where it really belongs: at the shame and stigma that is forced on us from both non-gay people and from other gay men?
In closing his 1992 speech, Bob Hattoy said, "We have hope. Hope gives me the chance of life." If we will commit ourselves to supporting one another's sense of hope, to building up instead of putting down, then just maybe we will see a reduction in the depression, despair, drug abuse and new HIV infections among gay men.
?
Follow John-Manuel Andriote on Twitter: www.twitter.com/JMAndriote
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Source: http://www.huffingtonpost.com/johnmanuel-andriote/spencer-cox-drugs-unsafe-sex_b_2372282.html
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(Reuters) - For months, life for Ann and Kurt Suhs has been a whirlwind of assembling documents, getting fingerprinted and scheduling evaluations of their Atlanta-area home in preparation for welcoming a Russian child into their family for a second time.
Now, the couple - who adopted their son Ben, now 7, from Russia at age 13 months - say they were blindsided by news that Russian President Vladimir Putin signed a law on Friday banning Americans from adopting Russian children effective next Tuesday.
"It's hard to think that it would all stop, that it would all just come to such a screeching halt," Ann Suhs said. "We haven't talked about a Plan B. We hope and we pray."
She and her husband are among some 1,500 U.S. families who are in the process of adopting a child from Russia, according to an estimate from the Alexandria, Virginia-based National Council For Adoption. Some of those families had just started paperwork, while others had already been matched with a child and, in some cases, had the chance to meet the boy or girl.
The Russian measure was passed in retaliation for a U.S. human rights law - approved this month as part of a trade bill and signed by President Barack Obama - that bars entry to Russians accused of involvement in the death in custody of anti-corruption lawyer Sergei Magnitsky and other alleged rights abuses.
Putin has defended the Russian law by saying his country should care for its own children. But critics including child rights advocates say it is an unfair move that uses orphans as pawns in an unrelated dispute.
Ann and Kurt Suhs, who were waiting to be matched with a child, had been frantically checking every morning for news about the Russian proposal moving through the legislative process. They had chosen Russia in part because Kurt Suhs' grandmother grew up there.
On a recent day, "I looked at Kurt and said, 'Do we know what we're going to do if this goes through?'" Ann Suhs said. "We can't put our heads around it to say, 'OK, we give up on this dream.'"
A November agreement between Russia and the United States calls for a one-year transition period in the case of either country banning adoptions, said Lauren Koch, a spokeswoman for the National Council For Adoption.
"All we can hope for now is that President Putin will honor the terms of that agreement and at least, at a very minimum, allow those families who have been matched with a child to bring him/her home," Koch said in an email.
But Russia is withdrawing from that agreement under the law Putin signed, and there was no indication any American adoptions now under way would go through other than six that Russian officials said have been approved by Russian courts.
'ONCE YOU'VE MET THAT CHILD'
Americans have adopted more than 45,000 Russian children since 1999, including 962 last year.
More than 650,000 children are considered orphans in Russia - though some were rejected by their parents or taken from dysfunctional homes. Of those, 110,000 lived in state institutions in 2011, according to government figures.
Many American families are now in limbo.
"Once you've met that child, that's your child, and that child is in your mind, he or she is in your heart, there are pictures on your refrigerator," said Frank Garrott, president of Gladney Center for Adoption, a Fort Worth, Texas-based adoption agency working with about 25 families now in the process of adopting a child from Russia.
In Oakland, California, the news from Russia has Lease Wong holding her little girl especially tightly. She and her husband, Marty, arrived home from Russia about a month ago with their newly adopted daughter, Brianna, who is now 23 months old.
"I think she knows she has a family," said Lease Wong, who owns a toy store. "I have to think of all those other children. They're losing their opportunity for a family."
As Wong spoke, the girl chattered away in the background.
Those are sounds that Kim and Robert Summers are desperate to hear. They traveled to Russia in August to meet the boy who they call Preston - he's known as Stanislav in Russia - then returned to Russia earlier this month to continue the adoption process. They had expected to go back to Russia in January to bring the boy home to New Jersey.
At their home in New Jersey, a stroller for the red-headed 21-month-old sits in the dining room and his crib is already partially assembled.
The Summers' two-year adoption journey followed eight years of infertility struggles, three miscarriages and four unsuccessful attempts at in vitro fertilization. After soul-searching and prayers, they turned to international adoption, and the match with the boy was approved at a December court hearing, they said.
Kim Summers, a chef who has no other children, said she quit her job to become a stay-at-home mother to Preston.
When they left Russia in December, they were so sure they would be back the next month that they left their diaper bag with a family there.
On Friday, Kim Summers expressed shock, outrage and a determination to bring her son home in January as planned.
"I promised this baby I was going to be his mommy," she said. "I'm a mommy on a mission."
(Editing by Paul Thomasch, Will Dunham and Alistair Lyon)
Source: http://news.yahoo.com/shock-heartbreak-u-parents-adopting-russian-kids-091850864.html
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JOHANNESBURG (AP) ? The doctors treating former South African leader Nelson Mandela believe he should remain in Johannesburg for now to be close to medical facilities that can provide care to the 94-year-old, the government said Thursday.
Mandela left a hospital Wednesday evening after nearly three weeks of treatment there, and was brought to his home in the Johannesburg neighborhood of Houghton. The anti-apartheid icon, also known by his clan name, Madiba, has lived over the past year and more in the rural village of Qunu in Eastern Cape province, where he grew up.
"Where Madiba goes, in which period, in which times, is a matter that is entirely dependent on his own wishes. Whatever he wishes, we will do," presidential spokesman Mac Maharaj said in an interview with eNCA, a South African television news channel.
"But right now, the doctors have considered it necessary and good that he should be in Houghton so that he's close to all the facilities where we can give him high care," Maharaj said.
Mandela was admitted Dec. 8 to a hospital in the South African capital of Pretoria, 50 kilometers (30 miles) north of Johannesburg. The ex-president was treated for a lung infection and also had a procedure to remove gallstones.
"He is not yet fully recovered but he sufficiently moved forward so that he can be discharged," Maharaj said. He noted that Mandela had been in good spirits while receiving President Jacob Zuma and other visitors while he was hospitalized.
"Madiba was doing well, but as you know, when you're recovering there are ups and downs, slight ups and downs, and the doctors are looking for a steady progress and that began to be registered over the last few days," the spokesman told eNCA.
Mandela is revered around the world as a symbol of sacrifice and reconciliation, his legacy forged in the fight against apartheid, the system of white minority rule that imprisoned him for 27 years. The Nobel laureate served one five-year term as president after South Africa's first democratic elections in 1994.
Maharaj said Mandela is able to see his family "more easily" now that he is at home, but he appealed to the public to respect the former president's privacy "to allow the best possible conditions for his full recovery."
Source: http://news.yahoo.com/south-africa-mandela-rests-home-084037733.html
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A hug is good for Mom, and good for her daughter.
iStockphoto.comA hug is good for Mom, and good for her daughter.
iStockphoto.comIn the aftermath of Christmas, a parent could be forgiven for thinking that materialism has trumped human kindness.
Take heart. Children can easily become kinder and more helpful. And that behavior makes them more positive, more accepting and more popular.
At least that's how it worked for fourth- and fifth-graders in Vancouver, Canada. Researchers there have been studying empathy and altruism in schoolchildren for decades.
"How do we decrease bullying, increase empathy and caring for others?" says Kimberly Schonert-Reichl, an applied developmental psychologist at the University of British Columbia who helped lead the experiment.
They wanted to see how performing random acts of kindness would influence that. But one measurement thrown into the mix almost as an afterthought ? being liked by peers ? was the quality most improved by helpful acts.
The researchers asked 9- to 11-year-olds in 19 classrooms to either perform three acts of kindness or visit three places each week (the tourists were the control group).
The acts of kindness were simple. The children gave mom a hug when she was stressed out, shared their lunches, or vacuumed the floor.
After four weeks, the researchers tested the kids and compared the results with tests they'd taken before. All the children had more positive emotions, and were slightly happier.
But the children who performed acts of kindness were much more likely to be accepting of their peers, naming more classmates as children they'd like to spend time with.
"I do think we're on to something," Schonert-Reichl tells Shots. The children were at an age when bullying can be more extreme, she says, and children become more self-conscious. So an increase in peer acceptance could benefit in the classroom and in social life. The study was published online in the journal PLOS One.
Being part of the experiment made kindness intentional. The children had to plan their acts of kindness, and remember to do them. Similar experiments in adults have shown that being actively kind increases happiness, and happier people then become more likely to help others.
Parents don't have to have a Ph.D. to encourage these sorts of simple acts of kindness in children ? or in themselves.
"I think of ways to start the New Year, and people making resolutions," says Schonert-Reichl, a former middle school teacher and mother of two boys." Can I do an act of kindness for someone every day?"
Harried parents would feel better, she says, and their children would, too. "They start helping, and they start feeling this is nice." Seeing themselves as the kind of person who helps others could be an identity that then stays with them for the rest of their lives.
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{Above: Chorizo, Lentil & Roasted Tomato Soup from What Katie Ate}
Traveling for the holidays gave me a healthy dose of the wintery weather that we?re lacking in the Bay Area. I took advantage of a particularly snowy afternoon to walk my Christmas cards to the post office as the drifts began to build. On the walk back, as I tried to keep warm, I started dreaming of making some delicious, steamy soup. While I?m thankful to have made it back to California before this latest storm started piling snow up across the midwest and east coast and causing travel headaches, a little part of me would like to be hunkering down right now, and putting a pot of one of these soups on the stove.
If you?re lucky enough (or unlucky enough, as the case may be) to be digging out from the latest blizzard, consider these recipes to keep warm. The Chorizo, Lentil & Roasted Tomato Soup pictured above from What Katie Ate is at the top of my recipes-to-try list. And the Kale & White Bean Soup from Guest Recipes contributor Love & Lemons looks like a perfect lunch. I?m also bookmarking Aran?s?Lobster and Fennel Stew for a future dinner party or special occasion.
{From the top: Beet Greens Soup from Sunday Suppers; Kale & White Bean Soup from Love & Lemons;?Lobster and Fennel Stew from Cannelle et Vanille; Celery Root Soup from David Lebovitz; White Bean + Shitake Soup with Herb Oil from Sunday Suppers}
Source: http://anthologymag.com/blog3/2012/12/27/recipe-roundup-soup/
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I have written in the recent past that I consider myself to be a traveler now; I travel relatively often, I understand the jargon, and I only want to travel more. But lately, I?ve realized that my language is evolving into something more. No, I don?t mean that because I travel I?m learning new vocabulary in foreign languages (though that happens too), but rather the way I talk is starting to change.
Specifically, I have become so used to booking tickets and writing about different destinations that I have begun referencing airlines, airports, and even cities with their IATA code designation.
The IATA, or the?International Air Transport Association?is the major industry trade association of the air travel industry.?IATA currently represents over 240 airlines in more than 120 countries. With about 84% of the world?s air traffic as members of the trade group, IATA designations have become the standard protocol used throughout the world at airports and on airlines. Since they represent almost the entire air travel industry, they have set their own standard of designations and rules so that there is less confusion among the members and customers alike. The IATA helps to set prices, established delay codes, but what I really speak of them for is their assignation of the?3-letter?IATA airport codes?and 2-letter?IATA airline?designation.
Almost every commercial airport has received its IATA code, and likewise, almost every commercial airline has its IATA code. For airports, these are codes such as ?JFK? for New York City?s John F. Kennedy International Airport and ?LHR? for London?s Heathrow Airport. About two years ago, I started labeling airports with these 3-letter IATA designations, rather than calling them ?Kennedy? or ?Heathrow? like I used to. That was the first indication of my budding proficiency in this ?traveler?s language.?
About 6 months ago, when referring to airlines, I began writing and speaking about them (at times) with their 2-digit IATA designation. Previously, I might have called American Airlines as ?AA,? though I never initially meant to refer to it by its IATA code; it was just easier and it made sense, like ?JFK.? However, I quickly continued, calling KLM as ?KL,? then Singapore Airlines as ?SQ.? Now, I recently found myself calling jetBlue as ?B6,? which seems to have nothing to do with its full name.
Though I am quickly becoming proficient in this language of IATA, I still have much more to learn before I?m an expert; frankly, the stuff I?m not familiar with is downright strange, especially if I know it and use it. It seems that they have gone so far as to make 4-letter code designations for the different meal offerings during a flight:
Maybe I?ll stick with what I know so far 
Christian ?Krzysiek??Eilers is a twenty-something who constantly likes to look at the next flight out of JFK. His life goal is to visit every country in the world; as a young adult working full-time while also taking classes, he often settles on visiting the near countries of Central and South America and the Caribbean, knocking these off the list as it is less of a financial strain than Europe or Asia. Caffeine is his vice, and if he doesn?t have a coffee in his hands, then it?s probably a green tea. A native of New York City, when he is not traveling, he can find an abundance of cultural influences right in his own city, enough to keep him satisfied until the next country?s beckon cannot be ignored any longer.
Source: http://www.dauntlessjaunter.com/2012/12/26/savvy-traveler-knowing-iata-codes/
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Source: http://www.articleswide.com/article/12167-Your_Nostalgic_Refreshment.html
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Read more: "2013 Smart Guide: 10 ideas that will shape the year"
It has been called science's X Factor: six mega-projects vying for two prizes, each worth a cool ?1 billion.
In 2010, the European Commission put out a call for visionary computing initiatives comparable to the moon landing or the mapping of the human genome. Such ultra-ambitious projects would change the way we think about the world and ideally solve some of its problems, too.
Of 21 ideas submitted, six were shortlisted for further development. These include the Human Brain Project - an attempt to simulate the brain using a supercomputer - and a scheme to create a new generation of electronic devices based not on silicon but graphene.
The winners will be announced at the end of January. The prize money, from European countries and private firms as well as the European Union, will be spread over 10 years.
Our money is on FuturICT, a real-life SimCity on a global scale. It will give individuals, companies and governments real-time information about the planet, and run simulations to find the best strategies for dealing with issues such as climate change.
FuturICT was conceived after the 2008 financial crash drove home our lack of understanding about today's hyperconnected world. The civilisation simulator will be an open platform, accepting data on anything from social media and the stock exchange to climate models and political preferences. Stay tuned for the start of something big.
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The Wildlife Conservation Society is reporting that this year has seen significant progress in safeguarding tigers and some of their last havens in Russia, Thailand and India ? three countries where the endangered species still has a solid base from which populations could expand if protections increase. The organization today released this image, taken by an automated camera last year in eastern Siberia.
The Green Blog has much of the background on developments in these three countries.
There?s much more on Dot Earth, of course, including these posts:
Saving Space for Tigers on a Crowding Planet
Can the Asian Boom Save Room for Tigers?
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Not that it would really be much of a worry since many people just do it regardless of the law, but UK residents set to receive any CDs or DVDs this Christmas will be able to do so safe in the knowledge that they can use a computer to back up their content without being?hunted?down by legislation, provided that the disc ripping that occurs is for personal use only.
After?a law amendment passed on Friday (21 December), the UK coalition?government has legally permitted consumers the right to burn content to their hard drives as ?digital copies?, with the law covering copied video content, music, and e-books, so long as it has been taken directly from the source?(as disc-to-file) and not used commercially.
While the rule also allows users to store their copied content onto a cloud storage service (seen in this case as similar to a hard drive, and rejecting rights holders? claims that this could create a form of illegal piracy),?it remains a crime to remove a??technical protection method? (TPM) from all copyrighted content, mainly designed to protect from copying in large quantities.
Government business secretary Vince Cable said of the changes: ?[The new legislation is] not only common sense but good business sense. Bringing the law into line with ordinary people?s reasonable expectations will boost respect for copyright, on which our creative industries rely. We feel we have struck the right balance between improving the way consumers benefit from copyright works they have legitimately paid for, boosting business opportunities and protecting the rights of creators.?
With a report on the matter summarising that the alterations create??a fair balance? between fair use for consumers?and?protecting the revenue streams of rights holders, will this trivial improvement be appreciated as a greater amount of freedom to use a paid-for disc as the user pleases?
Welcome to WorldTVPC Blog dedicated to bringing the latest news from the world of online tv, streaming services and TV hardware. We have news, links and a comprehensive review section. Hope you enjoy and we welcome all constructive comments
Steve Sanger
Related News:
Source: http://www.worldtvpc.com/blog/movie-ripping-becomes-legal-in-uk-for-individuals/
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Where skin care or rather hair care as well is concerned, acne is one of the most common problems you might have to face. Acne breakouts is prevalent not only on the facial skin but also on the body especially the back and the chest as well as the scalp. However, these little bumps are not only the reason for discomfort, irritation and a little pain but also make the skin look ugly and unattractive.
Since looks and appearance is taking an important toll in the lives of people irrespective of gender and age, treating acne and keeping a clear and healthy skin becomes a major responsibility. There can be different types of acne including dry skin acne and oily skin acne. Depending upon the type of acne, you can actually decide on the treatment process of the same. Since it is not a very serious problem you can opt for gradual treatments that are safe and effective rather than harsh chemical based medicines.
Natural and home remedies are not only safe and sound but also simple to follow. Here we are to discuss more about the dry skin acne compared to others. This means you will need to opt for remedies that get you freedom from the breakouts without excessively drying the skin. The stereotype that acne can only occur on oily skin should be broken off and you should know that dry skin is equally prone to the problem.
On the other hand, it is more of a challenge to get rid of acne from dry skin since most of the products for acne are designed in a way as to flush out the excessive oil and dirt from the skin. Home remedies are the best you can do for your precious skin and get back that lost glow. It is also recommended that you use only those natural products that have some amount of hydrating properties. Check this guide with the simplest of treatments for dry skin acne-
One of the best and the simplest of ways to clear away acne from dry skin and also keep the skin hydrated, soft and supple are to drink plenty of water each day. It is highly recommended that you opt for at least 8-10 glasses of water daily if you are looking for satisfying results. However, according to researchers there is no limit to the amount of water that you can consume each day.
The more you drink the more benefits you will see yourself in. this is especially valid for people who have a dry skin. Water can have real wonders on the skin and keep it deeply nourished giving you freedom from flakiness. By reducing the dryness, your treatment needs for the acne will be automatically met.
Water is also known to flush out the toxins from the body that can be one of the major reasons for acne on the skin. So while talking about dry skin acne treatment, there is nothing better and simpler than drinking good amounts of water.
Yet again for those who are suffering from this rare problem of dry skin acne should make sure that they adhere to a good skin cleanser in their daily routine. This product should be such that it is especially designed to meet the needs of dry skin and keep it moisturized.
However, it is always a good idea to opt for bottles that are full of natural ingredients and not chemicals because you are going to use it in the long run. Skin cleansers will ensure that you get freedom from acne and breakouts in a simple way. All you need to do is use it on the skin twice daily in the morning and before going off to sleep.
Chemicals are one of the major and underlying causes of dry skin and to aggravate the situation further to a non-treatable level. Use of chemical based skin products will only lead to dryness and in turn acne. Not only is it necessary to stay away from chemical based cosmetics and skin products but also any of the items that you are especially using in the treatment of the acne.
A simple way to treat acne is to buy an anti-acne moisturizer and use it on the skin at least twice daily. Not only will it keep you away from the problem but also help in nourishing the skin deeply. Make sure the moisturizer is made up of natural ingredients.
A moisturizer also helps in making a protective sheet on the skin that saves it from extra dirt accumulation. It is suggested that you opt for gel based moisturizer rather than the cream or lotions. The product should not lead to the blockage of the pores which can worsen the acne problem. The only aim should be to keep dryness away.
Also Read
Tips For Caring For Oily Skin With Acne
Natural Skin Treatment For Dry Skin
Guide To Best Acne Body Wash
Dietary Tips To Cure Acne
You should totally stay away from hot water soaks and using the same for washing the face. Hot water is known to flush out the moisturizers from the skin and leaves it completely dry and flaky. This is turn will trigger the problems of acne on the skin and might also irritate it further if you are already suffering. A lukewarm water bath or cold water bath is recommended for the purpose. This should be followed for the facial skin as well.
You can apply a generous layer of good quality honey on the skin for about 15-20 minutes before wiping it off with a clean washcloth.
Honey has natural moisturizers as well as healing properties. It will help in not only clearing the skin of acne but also keep it naturally hydrated and supple. Along with this, honey has loads of other benefits for the skin as well which you can extract through this measure.
Source: http://www.ayushveda.com/dietfitness/simple-ways-to-treat-dry-skin-acne/
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Space spider dies in D.C.: Neffi survived 55 days aboard the International Space Station. But the famous spider died after four days in the Smithsonian's National Museum of Natural History, in Washington, D.C.
A jumping red-backed spider spent 55 days on the International Space Station. But his trip to Washington was less successful.
NASA
EnlargeThe U.S. astronaut corps has lost another member.
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Nefertiti, a spider that traveled 42 million miles through space before returning to Earth in October, died after being sent to the Smithsonian's National Museum of Natural History in Washington, D.C.
The experiment was designed to determine if a spider dependent on gravity for catching its meals would be able to adapt and eat in micro gravity.
RECOMMENDED: Are you scientifically literate? Take the quiz
According to the Boulder Daily Camera , the spider was able to hunt down fruit flies in her sealed space environment on the International Space Station. The spider managed to survive despite a miscalculation on the amount of food needed for the mission.
The Johnson jumping spider (species Phidippus johnsoni). arrived at the Smithsonian's Insect Zoo this past Thursday. By, Monday it had expired.
The Boulder Daily Camera reported:
"Neffi, of a species that typically enjoys a lifespan of about one year, was 10 months old. Monday's passing of the so-called "spidernaut," according to the Smithsonian, was due to natural causes. However, the Smithsonian conceded that no necropsy was performed on the deceased arachnid.
The experiment that made Neffi famous was conceived as part of the NASA-sponsored YouTube Space Lab contest in which two student-proposed studies were selected from thousands submitted worldwide by video. Amr Mohamed, 18, of Egypt, suggested examining whether a spider normally dependent on gravity for catching its meals would be able to adapt, and eat, in a micro-gravity environment."
According to NASA, Mohamed's project was designed to look at whether jumping spiders, like the zebra and red-backed species, can adapt their hunting abilities to microgravity. Jumping spiders do not build webs for catching their food. These particular spiders hunt using their excellent vision to track and stalk prey, jumping and striking with a lethal bite -- similar to cats hunting mice.
?
?"I have always been fascinated by science because with a handful of equations, I can explain the world around me," said Mohamed in his Meet the Winner YouTube video. "The idea of sending an experiment to space is the most exciting thing that I have ever heard in my life."
Eventually, Mohamed's experiment was designed by Colorado University. It demonstrated that a spider was able to hunt down fruit flies in her sealed space environment on the International Space Station just fine -- until her food supply ran out, explained Stefanie Countryman, the projects manager for K-12 Educational Projects at CU's BioServe Space Technologies.
RECOMMENDED: Are you scientifically literate? Take the quiz
___
Copyright 2012 The Associated Press.
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In this photo taken on Friday, Dec. 21, 2012 the Nativity Scene set up in St. Peter's Square at the Vatican that will be unveiled by Pope Benedict XVI Monday, Dec. 24. (AP Photo/Gregorio Borgia)
In this photo taken on Friday, Dec. 21, 2012 the Nativity Scene set up in St. Peter's Square at the Vatican that will be unveiled by Pope Benedict XVI Monday, Dec. 24. (AP Photo/Gregorio Borgia)
In this photo taken on Friday, Dec. 21, 2012 the Nativity Scene set up in St. Peter's Square at the Vatican that will be unveiled by Pope Benedict XVI Monday, Dec. 24. (AP Photo/Gregorio Borgia)
VATICAN CITY (AP) ? Heralded by the blare of trumpets, Pope Benedict XVI is presiding over Christmas Eve Mass in a St. Peter's Basilica packed with tourists, Italians and other faithful.
The ceremony began at 10 p.m. (2100 GMT) Monday night instead of the traditional midnight start time. The schedule was changed at the Vatican years ago to let the pontiff rest before he is to deliver a Christmas Day speech hours later from the basilica's central balcony.
A smiling Benedict, dressed in gold-colored vestments, waved to photo-snapping pilgrims and applauding church-goers as he glided up the center aisle toward the ornate main altar of the cavernous basilica on a wheeled platform guided by white-gloved aides. The platform is employed to save the 85-year-old pontiff's energy.
As a men's choir chanted, Benedict sprinkled incense around the altar, and wished the faithful "peace" in Latin.
A few hours before Mass, Benedict lit a Christmas peace candle and set it upon the windowsill of his studio window overlooking St. Peter's Square.
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