Check back later this morning for today’s BMR Morning Market Musings.
1. Gold has traded between $1,278 and $1,289 so far today…as of 7:00 am Pacific, bullion is down $8 an ounce at $1,281 after touching a 9-week high Friday…Silver has retreated 9 cents to $17.01…Copper is flat at $2.89…Nickel is off 6 cents at $4.75…Crude Oil has added 15 cents to $48.89…U.S. drilling rig data published by Baker Hughes on Friday showed explorers modestly increased Oil drilling capacity, by 3 rigs to 768, for the 2nd time in 3 weeks…meanwhile, the U.S. Dollar Index has gained one-fifth of a point to 93.32…tensions over North Korea eased slightly over the weekend, and this morning China said it has banned key North Korean imports…however, tomorrow’s Liberation Day celebration in North Korea could ratchet up the rhetoric again…
2. Following Friday’s weaker-than-expected inflation reading for July, analysts at Commerzbank say that economic data is starting to take its toll on interest rate expectations..they added that the weak Consumer Price Index is taking attention away from solid growth in the labor market. “As a result, rate hike expectations according to the Fed Fund Futures have dropped to their lowest level since November, which should likewise benefit Gold,” they said…
3. Bitcoin hit a fresh record high above $4,250 today, continuing the rally from the weekend thanks to strong Japanese demand…in the last week alone, Bitcoin has added over $15 billion in market capitalization…year-to-date, it’s up over 320%…a Bitcoin upgrade, Japanese buying, institutional interest and safe haven purchases are 4 key factors behind the robust move in the cryptocurrency…
4. Equity markets have pushed strongly higher today with a cooling down in tensions over North Korea…the Dow is up 132 points through the first 30 minutes of trading after losing ground last week…in Toronto, the TSX has shot up 123 points while the Venture is 4 points higher at 767…updated Venture charts in today’s Morning Musings…more dollars flowing into the Eskay Heart of Gold Camp…Walter Storm’s Tudor Gold (TUD, TSX-V) is raising $2.25 million through a combination of flow-through and non-flow-through…Tudor is carrying out an aggressive drill program at its Treaty Creek JV Property…
5. Dolly Varden Silver (DV, TSX-V) has discovered a new zone of high-grade Silver 200 m north and 200 m deeper than the northern edge of the Torbrit deposit at its 100%-owned Dolly Varden Property south of Stewart…hole DV17–058, which intersected 16.1 m (13.2 m true width) grading 269 g/t Ag, has all the mineralogical signatures of the Dolly Varden-Torbrit Horizon (DVTH), but is located in host rocks of the footwall of the Moose-Lamb Fault, whereas the Torbrit deposit is hosted in the hanging wall…in addition, 300 m further north, hole DV17–057 also hit the DVTH which greatly expands the mineral potential of this sector of the property…the new discovery may represent a deeper offset, or parallel deposit, to Torbrit…the company says it’s 2017 exploration program is proceeding ahead of schedule and on budget…it’s now considering more than doubling the originally planned 5,000 m of drilling to about 12,000 m…DV is unchanged at 60 cents as of 7:00 am Pacific…
6. Cornerstone Capital (CCC, TSX-V) is off a penny at 6 cents after climbing as high as 12.5 cents Friday (Venture volume leader) on the news that it has entered into a non-binding Letter of Intent (LOI) with Americas Gold Exploration Inc. (AGEI), a private Nevada corporation, to acquire a 100% interest in its underlying option agreement on the Carlin Vanadium Project in Nevada…Carlin has one of the largest known primary Vanadium deposits in the United States…the latest utility-scale battery storage technology to emerge on the commercial market is the Vanadium redox flow battery…
7. Canopy Growth (WEED, TSX) this morning reported a net loss in the 1st quarter of fiscal 2018 of $4.4 million or 3 cents per basic and diluted share, compared to a net loss of $3.9 million or 4 cents per basic and diluted share in the 1st quarter of fiscal 2017…Q1 2018 revenue was $15.9 million, a 127% increase over the 3-month period ended June 30, 2016, and an 8% increase over Q4 2017 revenues of $14.7 million. “Our focus in the first half of calendar 2017 has been preparing our business to lead the legal recreational market that is set to open in Canada in 2018, while continuing to be the clear leader in the ongoing medical market,” said Bruce Linton, Chairman & CEO. “Believing business to consumer e-commerce sales will form the backbone of the Canadian cannabis market in 2018 and beyond, we have taken deliberate steps this year to stress our platform and in some cases break it, all as part of a warm up exercise.”
The most popular recent BMR articles/videos…
Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember
How To Bring A Junior Resource Market To Life!
Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies
The Most Important Venture Development Since The New Bull Market Began
Hi Jon,
Decade DEC and Teuton TUO are steadily rising, up $.01 and $.015 today. Awaiting drill results any day which could drive both stocks MUCH higher!
Look at chart patterns and you will see.
Comment by Bishkek — August 14, 2017 @ 8:51 am