Check for an additional post later today and be sure to frequent our comments section throughout the day for updates and helpful information. BMR Morning Market Musings returns tomorrow.
1. Happy Independence Day to our American readers!…U.S. equity markets are closed, which means light volumes today in Canada, but Gold has traded between $1,221 and $1,227 so far today after yesterday’s plunge below a support level in the mid-$1,230’s…as of 7:00 am Pacific, bullion is up $5 an ounce at $1,225 while Silver is off 4 cents at $16.07…base metals have retreated slightly after strength last week…meanwhile, Cobalt is hovering around another new post-2008 high of $27 a pound…the U.S. Dollar Index has edged up one-tenth of a point to 96.26…
2. Oil prices are up for the 9th straight trading session, 7 cents higher at $47.14…that’s the longest winning streak since 2012…Crude took a pounding through most of June but sentiment began to shift recently when U.S. data showed a dip in American output and a slight fall in drilling for new production…combined with OPEC’s jaw-boning to prop prices back up, a possible slowdown in global supply growth and seasonally firming demand, Q3 should prove to be much better for Oil prices than Q2…
3. Commercial production has officially started at Pretium Resources‘ (PVG, TSX) Brucejack mine in the Eskay Heart of Gold Camp…under the credit agreement among Pretium and its lenders, the commercial production date is defined as the first day of the calendar month immediately following the first calendar month during which the process plant processes ore at an average rate of 60% of one-12th of yearly nameplate capacity (985,500 tonnes per year or 2,700 tonnes per day)…during the month of June, the process plant at Brucejack processed 70,805 tonnes of ore (87.4% cent of one-12th of yearly nameplate capacity) for an average of 2,360 tonnes per day…higher-grade ore is now being introduced to the process plant as work continues on optimizing recoveries in the gravity and flotation circuits…
4. The Venture has retreated 4 points to 763 as of 7:00 am Pacific in light trading…the TSX, meanwhile, is off 34 points while U.S. markets of course are closed after a buoyant session yesterday to begin the 2nd half of the year…financials led the way as the Dow notched another record high…later this week, the Federal Reserve will release the minutes from its June meeting while the Labor Department will release its monthly jobs report on Friday…
5. Orca Gold (ORG, TSX-V) is scheduled to close a $15 million non-brokered private placement tomorrow through the issuance of 37.5 million units at a price of 40 cents per unit. “With the recent discovery of a new water source near our Block 14 Project, we are now conducting an extensive drill program to expand the overall resource base of the project towards the completion of a feasibility study and a construction decision,” stated CEO Richard Clark. “We look forward to delivering a steady flow of news from this program over the coming months. The government of Sudan has been extremely supportive of our efforts in developing a modern commercial Gold mine in the country. Over the past few years, we have witnessed Sudan’s growing success in cultivating a positive relationship with its Gulf neighbours and the U.S. and expect to soon see more of our international peers join us in uncovering the prolific Gold endowment of this mineral-rich country.”
6. Hong Kong billionaire Li Ka-shing, bullish on Uranium, has more than doubled down on his investment in NexGen Energy (NXE, TSX)…NexGen jumped 23 cents Friday and is up again in early trading today after announcing $110 million (U.S.) in financing from CEF Holdings, 50% owned by Li’s CK Hutchinson Holdings…that follows a previous deal for $60 million (U.S.) a year ago…
7. Canadian Zeolite (CNZ, TSX-V) was one of last week’s top performers on the Venture, jumping 40% to close Friday at 84 cents…news flow has picked up since late May while the stock’s 50-day moving average (SMA) recently reversed to the upside after being in decline since February…
The most popular recent BMR articles/videos…
Nickel Mountain, Western China And The Eskay Camp Shocker
The Most Important Venture Development Since The New Bull Market Began
Deveron had news this morning….
Comment by Gregh — July 4, 2017 @ 8:03 am
Deveron Enters Partnership with Leading Agriculture Service Provider
TORONTO, ONTARIO–(Marketwired – July 4, 2017) – Deveron UAS Corp. (CSE:DVR)(CSE:DVR.CN)(CNSX:DVR) (“Deveron” or the “Company”), is pleased to announce that it will be flying more farm acres with drones in collaboration with FS PARTNERS (“FSP”), a division of GROWMARK, Inc. FSP is a leading agronomy service provider in Ontario with six hubs that span across the province. FSP will now offer Deveron’s on-demand drone data service to its customers across Ontario.
“We continue to see growth in the demand for drone data with the most progressive leaders in agriculture,” commented Deveron’s President & CEO, David MacMillan. “This is yet another important relationship for us as it increases our market penetration in Ontario, where there are over 7 million acres of farmland. It also highlights the value of Deveron’s business model, which is that farming companies don’t want to own drones – they want to focus on making decisions from data that help their customers grow crops more efficiently. We continue to focus on building relationships with North America’s leading farming companies that provide services to a target market of 400 million acres of farms.”
Steve Rongits, Agronomy and Energy Risk Manager at FSP stated, “Our new partnership with Deveron allows for greater efficiency in our operations, and greater coverage by air. This will allow for even more precision agronomy opportunities across our service area, allowing more local growers to optimize their efforts in real time in the field. Collecting this additional data layer will help provide insight in managing their individual operations.”
About FS PARTNERS:
FS PARTNERS, a retail division of GROWMARK, Inc., provides agronomy, energy and grain marketing products and services along with its partners Great Lakes Grain and FS UPI Energy. FS PARTNERS proudly uses the 4-R Nutrient Stewardship model (Right Source, Right Rate, Right Time, Right Place) to assist our local growers in optimizing their yields.
About Deveron UAS:
Deveron is a nationally compliant, Transport Canada licensed, UAV operator providing enterprise drone data services to agriculture. Deveron’s data helps farmers increase yields and reduce costs using sophisticated Unmanned Aerial Systems (“UAS” or “drones”), sensors, software and analytics. Deveron’s drone data service network allows enterprise level customers to obtain on-demand, actionable data without exposure to technology and capital risks. The Company is focused on building a standardized constellation of drones and sensors to provide data in North America.
For more information and to join our community, please visit http://www.deveronuas.com
This news release includes certain “forward-looking statements” within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management’s current views with respect to possible future events and conditions and, by their nature, are based on management’s beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the “Risk Factors” section of our annual and interim Management’s Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at http://www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward looking statements.
David MacMillan
President & CEO
Deveron UAS Corp.
416-367-4571 ext. 221
[email protected]
Comment by Charles — July 4, 2017 @ 8:28 am
This is not directly regarding Deveron, but an interesting article on how widespread precision ag is becoming.
https://uk.finance.yahoo.com/news/israeli-agriculture-know-often-first-093100557.html
Comment by Charles — July 4, 2017 @ 9:01 am
CPO starting to firm up, getting through that knee-jerk selling from the free-trading PP. Some nice assay results could really ignite this play considering its low market cap vs. other players in the district. Drilling started over a month ago at the Smith and they carried out a very systematic exploration program for targeting vein structures.
Comment by Jon - BMR — July 4, 2017 @ 9:07 am
CPO – Jon, there are 4 million Flow Through Units at 0.12 expiring July 9th – are they finding their way to market early? We have had some nice volume over the last week or so.
Foz
Comment by Foz1971 — July 4, 2017 @ 9:20 am
When will GGI break their silence on the detailed VTEM and the PP?
Comment by Dan1 — July 4, 2017 @ 9:20 am
Good to see BCK recover from that .21 low. The PP hopefully is done soon. Jon, you mentioned end of June, have you heard anything.
Comment by dave — July 4, 2017 @ 9:39 am
That’s possible, Fox1971. In any event, paper is being soaked up and given all that has gone on in the district recently, and the possibilities we know that exist on the exploration side in the region, $5.5 million for a market cap is obviously very attractive to those who are accumulating today.
Comment by Jon - BMR — July 4, 2017 @ 10:05 am
CPO – You’re right -very low market cap, recent mergers mean fewer players to choose from, cobalt spot continuing to hit new highs, lots of catalysts – most importantly they are drilling and I am expecting very good grades that validate and better muck samples
Comment by Foz1971 — July 4, 2017 @ 10:42 am
DBV hires market maker, hopefully this will help.
Comment by Sameer — July 4, 2017 @ 12:27 pm
World “leaders” have kicked the can down the road on this one long enough — time to remove Kim Jong Un and the North Korean threat…
NORTH KOREAN FIRST: Rogue Nation Successfully Test-Launched ICBM, U.S. Officials Confirm
North Korea successfully test-launched an intercontinental ballistic missile for the first time on Tuesday, U.S. officials confirmed to Fox News.
The ballistic missile flew longer than any North Korean missile test conducted by the rogue regime to date, U.S. Pacific Command said — meaning Kim Jong Un’s dictatorship may now possess the ability to strike Alaska.
North Korea launched previously a missile on Mother’s Day that flew for 30 minutes and reached an altitude 1,000 miles higher than the international space station. But Tuesday’s missile flew for 37 minutes and reached a height of 1,500 miles, leading missile experts to conclude it could have reached a target 4,000 miles away, putting Alaska in its cross-hairs.
Comment by Jon - BMR — July 4, 2017 @ 2:49 pm
Jon, if the money has been in for a while now, why is GGI holding off on announcing the closing of the PP?
Comment by Dan1 — July 4, 2017 @ 7:00 pm
I speculated with regard to “goings on” and potential strategies in a recent subscriber report, Dan1. I wouldn’t waste time pondering that. We’ll hear from them soon.
Comment by Jon - BMR — July 4, 2017 @ 7:57 pm