Check the BMR comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,267 and $1,277 so far today, under mild pressure following further de-escalation of the North Korean crisis while some stronger-than-expected U.S. economic data was also released…as of 7:00 am Pacific, bullion is down $12 an ounce at $1,270…Silver has retreated 45 cents to $16.61…Copper is off slightly at $2.88…Nickel has lost 2 pennies to $4.71…Crude Oil is 51 cents lower at $47.08 while the U.S. Dollar Index has rallied one-quarter of a point to 93.74…
2. President Trump’s tough talk against North Korea seems to have had its desired effect on both China and North Korea – Kim Jong Un has blinked first, pulling back on his threat to attack a U.S. territory and hours after China took its toughest steps against Pyongyang to support U.S. sanctions…North Korean state media said today that Kim Jong Un had made a decision not to fire on Guam after visiting a military command post and examining a plan presented to him by his senior officers…but it warned that he could change his mind “if the Yankees persist in their extremely dangerous reckless actions”…meanwhile, Iran, another part of the original “Axis of Evil”, issued a direct threat to the West today…President Hassan Rouhani claims his country is capable of revitalizing its nuclear program within hours and quickly bringing it to even more advanced levels than when Iran reached a deal with world powers that limited its ability to produce nuclear weapons…
3. U.S. consumers continue to flex their muscles – retail sales recorded their biggest increase in 7 months in July as consumers boosted purchases of motor vehicles as well as discretionary spending, suggesting the economy continued to gain momentum early in the 3rd quarter…sales rose 0.6% in July, Commerce Department data showed this morning, following an upwardly revised advance of 0.3% in June…economists were expecting to see a 0.4% rise in the headline number…meanwhile, the Empire State manufacturing survey released this morning by the New York Federal Reserve showed business sentiment surged much higher than expected in New York in August…in addition, sentiment in the manufacturing sector is at its highest point in almost 3 years…other economic data just released shows homebuilder sentiment soaring on strong sales…
4. Equity markets are quiet in early trading…the Dow is up 27 points at 22,020 through the first 30 minutes of trading…in Toronto, the TSX backed off 24 points while the Venture is steady at 764…Clean Commodities (CLE, TSX-V) has jumped a penny to 7.5 cents on news that the company has started a maiden exploration program at its Juliet Lithium Project contiguous to Critical Elements‘ (CRE, TSX-V) Rose Project in northern Quebec…Cornerstone Metals (CCC, TSX-V) is one of the top volume leaders again, adding half a penny to 9 cents as of 7:00 am Pacific…last Friday, the company announced it has entered into an LOI to acquire one of he largest primary Vanadium deposits in the United States…after some recent weakness, Jaxon Minerals (JAX, TSX-V) is rebounding this morning on news that it has appointed Dr. Yingting (Tony) Guo to its board of directors….Dr. Guo is a member of the technical committee of the Zijin Midas Exploration Fund, a strategic investor in Jaxon and a subsidiary of Hong Kong-listed Zijin Mining Group, the fund’s manager and major investor…
5. Tinka Resources (TK, TSX-V) is up slightly after releasing more drill results this morning from its 100%-owned Ayawilca Zinc Project in central Peru…they included 36.25 m at 5.2 % Zinc from 273.25 m depth, including 5.5 m at 12.5% Zinc from 304 m depth at West Ayawilca where the Zinc zone has been extended by approximately 150 m to the northeast…meanwhile, South Ayawilca – a primary target for additional discoveries – remains open over a strike distance of at least 700 m toward the southeast…Tinka expects to release an updated resource estimate during the final quarter of 2017…approximately 12,000 m have been drilled in 35 holes completed during the campaign so far, with further step-out holes planned for the remainder of 2017…Dolly Varden Silver (DV, TSX-V) is adding to yesterday’s strong performance with a 3-cent gain to 72 cents in early trading…the company is considering more than doubling the size of its drill program at the Dolly Varden Property south of Stewart after a new high-grade zone was intersected as announced yesterday…
6. Columbus Gold (CGT, TSX) reported this morning that drill hole MO-17–295 has confirmed the potential to increase the size of the multi-million ounce Montagne d’Or Gold deposit at depth…drill hole MO-17–295 returned 0.92 g/t Au over 41.2 m, including 1.92 g/t Au over 17.7 m, and was intersected 175 m vertically below the deepest hole previously drilled in the principal upper felsic zone, the secondary lower favourable zone, and the footwall zone…meanwhile, drill hole MO-17–304 confirms the potential to increase the strike length potential of the deposit…MO-17–304 returned 0.56 g/t Au over 58.1 m, including 2.32 g/t Au over 9.0 m, 400 m to the west of the Montagne d’Or deposit…CGT is off slightly at 64 cents, a penny above its rising 500-day moving average, on light volume…
7. Aphria Inc. (APH, TSX) announced this morning that it has invested $11.5 million in HydRx Farms Ltd. (Scientus Pharma) by way of a senior, secured convertible debenture…the debenture has a 2-year term, bears interest at the rate of 8%, paid semi-annually, is convertible into the common shares of Scientus Pharma at the rate of $2.75 a share, and is secured by a first charge on all of its current and future assets…Scientus Pharma is a vertically integrated biopharmaceutical company focused on the development of drugs that target the endocannabinoid receptors throughout the body for the treatment of diseases of the brain, organs, connective tissues, etc….essentially, Scientus Pharma is raising the bar of cannabinoid products from medical grade to pharmaceutical grade…APH is up 2 pennies at $5.99 as of 7:00 am Pacific…
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Hi Jon. Was reading the fact sheet on the BCK site, and it says the goal for 2017 is to calculate a resource estimate at Blende. If the company is able to move its historical resource to indicated. I can’t imagine a company with an indicated resource of 1.3B lbs of Zn, 1.2B lbs of Pb and 35.3M oz of Ag having a minuscule market cap of $4 million…. Thoughts?
Comment by maxwell — August 15, 2017 @ 7:40 am
MTS is knocking on the door of a new 52 week high: .43
Comment by Marshall — August 15, 2017 @ 8:00 am
Regoci knows just how to curb enthusiasm. Everyone was looking for exciting news about drilling or other results but we get news of additional dilution (albeit small). That news never even made it to US channels.
Comment by Marshall — August 15, 2017 @ 10:19 am
GGI
Maybe there are some more big time names that want in on this so another PP coming or they are adding to the one from yesterday and they are not releasing any news until that PP is done to keep the share price down for the bug name player..? just a thought..
Comment by Gregh — August 15, 2017 @ 10:52 am
GGI. PP’s over the last couple months will add 9MM + wts to the total. todays PP is likely going to be bigger as well. hopefully though, the use a guillotine to cut off the addons so this doesn’t linger.
Comment by david — August 15, 2017 @ 11:19 am
As expected……….
Garibaldi Resources revises private placement
2017-08-15 15:59 ET – News Release
Mr. Steve Regoci reports
PRIVATE PLACEMENT UPDATE
Further to its news release of Aug. 14, 2017, Garibaldi Resources Corp. has revised its private placement as follows.
Garibaldi will issue up to 2,032,000 units at 46 cents per unit to raise gross proceeds of up to $934,720. Each unit consists of one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant is exercisable into one common share at a price of 60 cents for a period of two years. The company may pay a 7-per-cent finder’s fee in cash on a portion of the proceeds.
The proceeds will be used for the company’s exploration programs as well as general working capital purposes.
About Garibaldi Resources Corp.
Garibaldi Resources is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.
Comment by diesel — August 15, 2017 @ 1:10 pm
Revised PP up to 2,032,000 units. This is getting ridiculous. Why are they dragging this out? At this rate drilling won’t start until next Aug.
Comment by Dan1 — August 15, 2017 @ 1:26 pm
Maybe another CEO would have had several holes in E&L by now. I remember Jon, you saying Regoci said that drilling would be sooner than most people realize. I think he needs to be reminded of all his comments and even News releases as they are very misleading
Comment by Dan1 — August 15, 2017 @ 1:34 pm
Maybe another CEO would have had several holes in E&L by now. I remember Jon, you saying Regoci said that drilling would be sooner than most people realize. I think he needs to be reminded of all his comments and even News releases as they are very misleading
Comment by Dan1 — August 15, 2017 @ 1:35 pm
Ggi – pp revised, oversubscribed, 2,032,000 units at 0.46
More money for drilling
Comment by Foz1971 — August 15, 2017 @ 2:41 pm
Garibaldi Resources revises private placement
2017-08-15 15:59 ET – News Release
Mr. Steve Regoci reports
PRIVATE PLACEMENT UPDATE
Further to its news release of Aug. 14, 2017, Garibaldi Resources Corp. has revised its private placement as follows.
Garibaldi will issue up to 2,032,000 units at 46 cents per unit to raise gross proceeds of up to $934,720. Each unit consists of one common share in the capital of the company and one non-transferable share purchase warrant. Each warrant is exercisable into one common share at a price of 60 cents for a period of two years. The company may pay a 7-per-cent finder’s fee in cash on a portion of the proceeds.
The proceeds will be used for the company’s exploration programs as well as general working capital purposes.
About Garibaldi Resources Corp.
Garibaldi Resources is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
Comment by Foz1971 — August 15, 2017 @ 3:04 pm
From what I understand this is a close, a quick one, on GGI PP, and word is the company filed with Exchange this afternoon. Done deal, now we get on to what we’ve all been waiting for.
BTW, there had to have been a big player in that PP for this to have come up so suddenly and be put to bed so quickly.
BMR working on arrangements for Monday-Tuesday arrival in Heart of Gold Camp – history in the making quite possibly and we’ll cover it like no one else.
The known very high tenor of the sulphide at E&L (4.8% to 8% Ni and 2.1% to 10.9% Cu in 100% sulphide) means eye-popping numbers if conductor below mineralized zones to 122 m represents massive sulphides. Lightfoot will explain in video interview.
Canadian Cordillera turned upside down – gotta love it!
Comment by Jon - BMR — August 15, 2017 @ 5:50 pm
Jon, Do you think the GGI drills will be turning before you arrive at the Heart of Gold camp next week?
Comment by Dan1 — August 15, 2017 @ 6:10 pm
Yes.
Comment by Jon - BMR — August 15, 2017 @ 6:12 pm
Hope you are right both the drill turning and turning the Canadian Cordillera upside down. This market needs a major discovery, especially since I own shares – LOL
Comment by Dan1 — August 15, 2017 @ 6:37 pm
I like the Monday Tuesday arrival – I know exactly what it means 🙂 Thank you BMR
Comment by Johnz — August 15, 2017 @ 6:43 pm
It’s very interesting that Monday Aug 21st is discovery day on the calendar. It’s not a Canadian holiday but wouldn’t it be fitting if an announcement was made on discovery day, that massive sulphides were encountered!
Comment by Dan1 — August 15, 2017 @ 7:04 pm
Jon
can you expound on what you can and cannot do as far as reporting and seeing while you are in the E&L camp so us subscribers do not get our expectations all out of whack?
thanks greg
Comment by Gregh — August 15, 2017 @ 7:17 pm
Interesting point, Dan1…indeed, the 3rd Monday in August is Discovery Day in the Yukon, commemorating the discovery of Gold in the Yukon…
Could be an important Discovery Day in B.C, as well…infamous hole at Eskay Creek in August was also in August along with Noront discovery in 2007…something about the month of August!
Comment by Jon - BMR — August 15, 2017 @ 7:34 pm
Gregh, 8 juniors swinging hard, plus Seabridge and Pretium, so someone appears likely to hit a home run. Will be exciting, to say the least. I’ll expand later on what we’ll be able to do and can’t do, but there’s no place I’d rather be right now than this Camp.
Comment by Jon - BMR — August 15, 2017 @ 8:43 pm
What’s up with the cobalt plays? Aw fully quiet?
Comment by Donald — August 15, 2017 @ 8:50 pm
Jon
Is there anymore room on the bus? Lol
Love to be there, look forward to hearing all about it.. Predicting a GGI Halt next Tuesday!!
Comment by Gregh — August 15, 2017 @ 9:33 pm
Some good news the other day from First Cobalt, Donald, hopefully they are indeed trading within a matter of days…that will help tremendously…we need updates as well from CSR and CPO…I’m confident we’ll hear from them shortly, certainly during this last half of August…
Comment by Jon - BMR — August 16, 2017 @ 4:08 am
GGI
how come no one is talking about the samples taken from Anomaly A. they were sent RUSH as per their NR on July 27, they should be done by now.
Comment by George — August 16, 2017 @ 5:26 am
It’s not just rock sample grades they asked for, George, but petrographics/lithochemistry. Don’t worry about grades from Anomaly A – there will be some very good numbers given the information that was reported. Getting all the data from the labs (more than 1 involved given the lithochemistry analysis) and then reviewing, interpreting and putting out to the market is not an instant process.
Comment by Jon - BMR — August 16, 2017 @ 5:43 am