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Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
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Friday, October 10, 2008
Ainsworth Announces Termination of Commitment Agreement With Manitoba Government
Comtex
VANCOUVER, BRITISH COLUMBIA, Oct 10, 2008 (MARKET WIRE via COMTEX) ----Ainsworth Lumber Co. Ltd. ("Ainsworth") (TSX: ANS) announced today that it has terminated a commitment agreement with the Government of Manitoba on a planned engineered wood production facility in an area northeast of Winnipeg, Manitoba. The May 2006 agreement contemplated the issuance of a Forest Management License for 838,000 cubic meters annually of timber on a renewable 20 year basis.
Ainsworth's recent strategic project review indicated that it is highly unlikely that the company would build the facility in the foreseeable future. Ainsworth's original intention was to construct an engineered wood manufacturing plant capable of producing both oriented strand board (OSB) and oriented strand lumber (OSL) products in conjunction with the First Nations Forestry Limited Partnership ("FNFLP").
"Excellent progress was made over the past three years with the Government of Manitoba and FNFLP to develop a framework to deliver on this project's potential," said Robert Allen, Chief Executive Officer. "The decision to terminate the commitment agreement is in no way a reflection of the support provided by the Government and the regional First Nations."
As a result of the termination of this agreement, Ainsworth is no longer required to post a performance bond and the associated $2.5 million will be returned to the company.
Contacts: Ainsworth Lumber Co. Ltd. Bruce Rose (604) 661-3200 Email: bruce.rose@ainsworth.ca Website: www.ainsworth.ca
SOURCE: Ainsworth Lumber Co. Ltd.
mailto:bruce.rose@ainsworth.ca http://www.ainsworth.ca
Copyright 2008 Market Wire, All rights reserved.
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