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1. GoldĀ hasĀ traded between $1,304 and $1,314 so far today…as of 7:00 am Pacific, the yellow metal has rebounded from its lows of the morning and is off just $1 an ounce at $1,312…not surprising that bargain hunters stepped in as bullion approached strong technical and psychological support at $1,300 which could be tested more vigorously…Silver has backed off 14 cents to $15.43 but should also snap back quickly based on a continuing favorable overall technical pattern…base metals remain firm…Nickel has jumped 13 cents to $6.00, Copper is up 3 pennies to $2.98 while Zinc has added 1 cent to $1.28…Zinc mines have been ramping up but smelters have not been able to keep pace, so shortages of refined metal have persisted…“Most if not all Western smelters are probably working flat out, but in China, with the environmental scrutiny clampdown, capacity is being cut and new capacity has been delayed,” stated Robin Bhar, head of metals research at Societe Generale in London…“The deficit in the refined market is being met by the drawdown in stocks, so that’s lending a lot of support to the Zinc price”…Cobalt continues to rebound, up another 45 cents to $15.42...Crude Oil is 29 cents higher at $57.51Ā while the U.S. Dollar Index is off slightly at 96.16…
2.Ā Not only do central banks want more Gold but some of them want to hold it in their own vaults…according to international reports, Romania is the latest nation that wants its bullion back…the country’s Social Democrat Party (PSD) leader Liviu Dragnea and PSD senator Serban Nicolae have proposed legislation that requires the National Bank of Romania (BNR) to hold most of its Gold reserves domestically…a description of the bill posted on the Senateās website said, “The National Bank of Romania can deposit Gold from the established reserve abroad exclusively for the purpose of obtaining income through trading and other specific operations. The Gold deposited by the National Bank of Romania abroad cannot exceed 5% of the total Gold reserve”…while the central bank does keep some Gold in its vaults in Bucharest, the majority of Gold is held in the United Kingdom with the Bank of England…
3. This morning’s strong early moves on Wall Street come a day after the major indexes posted solid monthly gains in February, pushing the S&P 500 to its best start to a year since 1991…the S&P 500 is already up more than 11% for 2019, along with the Dow…the NASDAQ, meanwhile, has climbed 13.5%…this could mean further gains for investors as the year goes on…data compiled by LPL Financial show that, in 25 of 27 occasions since 1950, the S&P 500 has posted gains in the final 10 months after rising in January and February…those are compelling numbers…decreasing trade tensions between China and the U.S., combined with declining fears of tighter monetary policy from the Federal Reserve, have helped propel stocks higher to kick off 2019…
4. U.S. GDP annualized growth in Q4: 2.6%…Canadian GDP annualized growth in Q4: 0.4%…the Trump economy continues to severely outperform the Trudeau economy, but by now that should come as no shock to anyone…Canada’s economy practically came to a halt in the final 3 months of 2018, growing just 0.1% – the weakest quarterly growth since the middle of 2016 – for annualized GDP of onlyĀ 0.4% vs. 2.6% in the United States…how long will Canadians put up with mediocrity, economic under-performance and poor fiscal management by career politicians?…Statistics Canada said the late-2018 slowdown was mostly due to a 2.7% contraction, on a quarter-over-quarter basis, in investment spending (wonder why what happened?)…overall exports saw a slight decline and household spending slowed for a 2nd straight quarter…here’s another astonishing statistic after Trudeau’s legalization of marijuana which he erroneously claimed would kill the black market – household spending on marijuana, at an annual rate, totalled $5.9 billion in the 4th quarter – with illegal pot accounting for $4.7 billion of the total and legal weed representing only $1.2 billion…meanwhile, StatsCan is under fire for releasing GDP data nearly 30 minutes early through a tweet…
5. Justin Trudeau isĀ no friend of the resource sector inĀ Canada – in fact, our besieged Prime Minister is the enemy of the resource sector in this country as demonstrated by his words, actions and inaction over the last 3.5 years (getting pot to market during that time has been a much higher priority for Trudeau than pushing Oil or other resources to market)…Bill C-69, which Trudeau is urging the Liberal Senate to ratify, is only the the latest example…Canadian Association of Petroleum Producers (CAPP) President and CEO Tim McMillan calls Bill C-69 “an existential threat to the resource sector in Canada…almost every province has serious concerns and are referencing many of the same things”…meanwhile, as far as theĀ “rule of law” is concerned, it meant nothing to Trudeau when on June 17, 2014, the then leader of the 3rd place federal Liberal Party vowed to kill the Northern Gateway pipeline if he became Prime Minister – and indeed he did kill it shortly after he won the 2015 election – even though the project had already been approved by the National Energy Board’s joint review panel in December 2013 and had just been passed in the House of Commons…not only had Calgary-based Enbridge jumped through literally hundreds of planning and regulatory hoops starting in 2002Ā – including meeting all 209 extra conditions placed upon it by the NEB – and spent more than $500 million with the projectās other proponents, Trudeau had no regard for a semi-judicial and extremely rigorous process that set Canada apart as a country that did not resort to arbitrary measures and political whim when it came to determining the viability of large infrastructure projects…is it any surprise, then, that he ignored the “rule of law” with regard to SNC-LavalinĀ (SNC, TSX) in an effort to protect jobs in his home province of Quebec?…
6. The Dow, gunning for a 10-week winning streak, is up 162 points through the first 30 minutes of trading…in Toronto, the TSX has gained 101 pointsĀ while the Venture has added 1 point to 625 as it continues to attempt to conquer key resistance in the low 620’s…Canopy Growth (WEED, TSX; CGC, NYSE) and NEEKA Healthcare Canada have scheduled a news conference for tomorrow to unveil a transformative clinical research initiative in partnership with the NHL Alumni Association…the news conference will featureĀ Glenn Healy, Executive Director with the NHLAA, Dr. Amin Kassam from NEEKA Healthcare Canada, and fromĀ Canopy Growth Dr. Mark Ware, Chief Medical Officer, and Hilary Black, Chief Advocacy Officer…additional former NHL players will also be in attendance…American Pacific Mining (USGD, CSE), which jumped 60% in February, has closed an over-subscribed private placement for $1.46 million at 10 cents per unit…the company is advancing a promising high-grade Gold project (Tuscarora) in Nevada that delivered impressive results in USGD’s initial round of drilling last year…fresh channel sample results released this morning byĀ iMetal Resources (IMR, TSX-V) from Zone 1 South at Gowganda West featureĀ Gold values as high as 16.6 g/t, underscoring the point that the ongoing maiden drill program is likely intersecting high-grade Gold…the green carbonate that was channel sampled, and features quartz veining and finely disseminated pyrite, looks very similar to what is found in drill core, according to long-time district geologist Dave Gamble…drilling has also intersected red jasper conglomerates similar to those found at Kirkland Lake…IMR is unchanged at 14.5 cents as of 7:00 am Pacific while Gowganda neighbor Canada Cobalt (CCW, TSX-V) is up 2 pennies at 50 cents…we’ll be hearing more from both companies during PDAC which starts Sunday…
7.Ā Sherritt International’s (S, TSX) refinery in Fort Saskatchewan, Alberta, has reached 3 billion pounds of finished Nickel production since its operations first began in 1954...“As one of Canada’s oldest mining companies, we are proud of this important milestone,” stated President and CEO David Pathe…”It serves as a testament to the refinery’s dependability over the past 65 years, and the ability of our employees to adapt to changes in the industry and introduce innovations that have enabled Sherritt to maintain our leadership position as a producer of low cost, high quality Nickel”…the Fort Saskatchewan refinery was constructed in 1954 and initially processed feed from Sherritt’s Lynn Lake mine in Manitoba…today, the Fort Saskatchewan refinery processes mixed sulphides produced through the Moa Joint Venture, which was created in 1994 and in which Sherritt maintains a 50% partnership interest, to produce Class 1Ā Nickel in briquette and powder forms…Class 1 Nickel is the purest form of Nickel and is particularly suited for applications, such as electric vehicle batteries, that require high purity levels…
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I must admit this isnāt the senario I envisioned for ggi heading into pdac, letās hope Regoci has some sort of rabbit that heāll pull out of a hat, or should I say hole, maybe later today or first thing next week,this should in reality be going up, Standing patiently.
Comment by Laddy — March 1, 2019 @ 8:43 am
Could not agree with you more Laddy. I sure hope Steve knows what he is doing.
Comment by pole — March 1, 2019 @ 11:06 am
Yes pole, I have confidence that Steve does know what heās doing, the manipulation and shorting is getting a bit on the maddening side,the one thing that keeps banging me on the head is what Everett said to Jon,that this will be a mine. Lightfoot also knows what heās talking about.. I got an email from ggi today stating their attendance at the core shack.. wondering if the core will be new besides whatās on their photo gallery now, hope so. Lots more holes to come and the drilling season is just right around the corner. Hangin in there!!
Comment by Laddy — March 1, 2019 @ 1:48 pm
Frank strikes again on a Friday afternoon, going into PDAC…Part 2 next week?…
Canada Cobalt Launches Castle Mine Tailings Initiative
Canada NewsWire
COQUITLAM, BC, March 1, 2019
COQUITLAM, BC, March 1, 2019 /CNW/ – Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”), a technology leader in the Northern Ontario Cobalt-Silver Camp, is pleased to announce that the Company has added another catalyst to its first half 2019 strategy ā a unique and environmentally friendly program with a plan to develop cost-effective near-term recovery of silver and gold mineralization from an historic tailings area approximately 300 meters from the #3 Shaft at the Castle mine.
The Company considers the tailings very prospective for high-grade silver and other metals, including gold and cobalt, based on historical records and just-received results from SGS Lakefield which has produced a gravity concentrate from the tailings grading 389 g/t silver, 0.63 g/t gold and 0.20% cobalt.
The tailings program will initially target silver and gold and will be optimized through the Re-2OX process to recover other metals including cobalt, nickel and copper. It will also be used as a template by the Company for similar potential initiatives in Gowganda and elsewhere in the broader region where innovative approaches to decades-old tailings issues can deliver important environmental solutions as well as potential business growth opportunities.
Highlights:
– Canada Cobalt has acquired gravity separation spiral concentrators, made by Mineral Technologies of Australia, for test work which is being undertaken to complete a flow sheet for a pilot plant that can treat a minimum of 600 tonnes of tailings per day;
– Mineral Technologies’ spiral concentrators are designed to be highly efficient and easy to install, featuring minimal maintenance requirements and high recoveries;
– The stamp mill coarse tailings from early 20th century mining at Castle will be processed underground at the Castle mine near the #3 Shaft in a wide-open area on the first level;
– The stopes on the first level will be fully cleaned out and back-filled (cemented) with the tailings waste from the high-grade concentrate created underground.
Frank J. Basa, Canada Cobalt President and CEO, commented. “The tailings ‘problem’ in Northeast Ontario’s historic silver-cobalt mining district is really a tailings ‘opportunity’, and our intention is to capture that opportunity for Canada Cobalt shareholders.
“We’ve been a leader on multiple fronts in this district. We look forward to working closely with our First Nation partners and the Ministry of Mines to implement a tailings program at Castle that can be a model for similar initiatives in the Gowganda Camp and elsewhere throughout the region from the town of Cobalt to Silver Centre,” Basa concluded.
The above program is part of an amendment to the Company’s advanced exploration permit with the Ontario Ministry of Northern Development and Mines.
Canada Cobalt Presents At PDAC
Canada Cobalt President and CEO Frank J. Basa is scheduled to make a presentation to investors as part of the Corporate Presentation Forum at PDAC 2019 in Toronto.
The presentation will be in the Energy Metals and Specialty Products session on Monday, March 4, starting at 11:15 am EST in Room 803 in the South Building of the Metro Toronto Convention Centre.
Mr. Basa’s presentation will focus on Canada Cobalt’s aggressive plans and potential catalysts for 2019 including:
– Today’s announcement of an innovative tailings project;
– Phase 2 underground drilling to follow up on recently announced Phase 1 results that included multiple high-grade shallow cobalt and silver intercepts (refer to Feb. 19, 2019, news release);
– The technological lead that the Company has achieved with its environmentally green Re-2OX hydrometallurgical process for recovery of cobalt, base metals and precious metals;
– Exciting Castle East discovery opportunities – gold, silver and cobalt;
– Favorable share structure and plans to continue to keep share dilution to a minimum, further distinguishing Canada Cobalt from its peers in the Northern Ontario Cobalt-Silver district.
Mr. Basa will be available for questions after the presentation and also will meet with investors during PDAC at Booth 2738 in the Investors Exchange exhibit area on the 800 level in the South Building.
Canada Cobalt was recently ranked by the TSX among the Top 5 Mining Companies in its 2019 Venture 50 listing of top performers on the Venture Exchange in 2018. The Company regards this ranking as a validation of the strategy it has pursued toward building a vertically integrated mining company.
Cautionary Statement
No resource estimate or economic analysis of the Castle tailings area has been carried out by the Company.
Canada Cobalt will not be basing a production decision at Castle on a feasibility study of mineral reserves demonstrating economic and technical viability, and as a result there is increased uncertainty and there are multiple technical and economic risks of failure associated with such a decision. These risks, among others, include areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts.
Quality Assurance/Quality Control
A 120-kilogram sample from the Castle mine’s historic tailings pond was randomly collected in pails and subsequently transported by courier to SGS Laboratories, an accredited lab in Lakefield, Ontario. Samples were submitted for assay. Aqua regia digestion and atomic absorption finish were used for silver, gold, cobalt, nickel and copper analysis.
Qualified Person
The technical information in this news release was prepared under the supervision of Frank J. Basa, P.Eng., Canada Cobalt’s President and Chief Executive Officer, who is a member of Professional Engineers Ontario and a qualified person in accordance with National Instrument 43-101.
About Canada Cobalt Works Inc.
Canada Cobalt is focused on immediate and longer-term value drivers at its past producing Castle mine and adjoining land package in the historic Northern Ontario Silver-Cobalt district, Canada’s cobalt heartland since the start of the electric vehicle revolution. With underground access at Castle, an innovative tailings program with a plan to recover silver, gold and cobalt, a recently installed pilot plant to produce gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX, Canada Cobalt is strategically positioned to become a vertically integrated North American mining company.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2019/01/c7479.html
Contact:
Frank J. Basa, P.Eng., President and CEO, 1-819-797-4144, or Wayne Cheveldayoff, Corporate Communications, [email protected], 1-416-710-2410
Comment by Jon - BMR — March 1, 2019 @ 2:14 pm
Thanks for that Laddy. I’m confident GGI has the goods. Just hoping that we might of heard some news before PDAC.
Comment by pole — March 1, 2019 @ 2:23 pm
Unrealistic to expect more GGI news ahead of PDAC (beyond Feb. 21 news) when they’re still waiting for data…anyway, they’re in the Core Shack at PDAC and Lightfoot is making a presentation as well…that huge massive sulphide block will draw a lot of attention…
Comment by Jon - BMR — March 1, 2019 @ 2:28 pm
Fascinating CCW news…some key takeaways…
– Not hard to do the math here – minimum 600 tpd, and historic records show the coarse stamp mill tailings are very high in Silver (in the several ounces per tonne), and also contain some Gold and Cobalt, and this is supported by SGS assays which returned a gravity concentrate of 389 g/t Ag, 0.63 g/t Au and 0.20% Cobalt…
– Tailings are just 300 meters from Shaft #3…one of the biggest costs in mining is moving rock…none of that here…looks like a very simple pumping of the tailings down Shaft #3 to CCW’s newly acquired gravity spiral concentrators underground…these are amazing units, you can check them out at Mineral Technologies’ web site…extremely efficient, low maintenance, high recoveries, low cost…tailings waste is put into the stopes (cemented tailings) after the stopes are cleaned out, providing CCW with more material from underground (stopes are mineralized)…
– Spiral concentrators turn material into very high-grade concentrate…from there, you can take it to a smelter and start pouring Silver and Gold bars…the Cobalt will come into play through Re-2OX but the immediate easy opportunity to generate cash flow through the Silver and Gold is huge…
– Should be high margin operation to clean up tailings – at 600 tpd, the potential monthly cash flow would be in the order of $750,000 to $1 million based on a conservative Silver grade of 3 ounces per tonne, plus some Gold…
– Timing on all this is relatively quick, through an amendment to existing permit…
– Here’s the real kicker – a successful tailings program at Castle can be replicated elsewhere in the district…this is also what will bring in privately held Battery Mineral Resources…they have a lower grade (not the coarse stamp mill tailings CCW has) but larger deposit on their ground (43-101 resource) adjoining Castle…plus, opportunities elsewhere in the district as there are an estimated 200 million tonnes of tailings scattered throughout the Northern Ontario Cobalt Camp…
Comment by Jon - BMR — March 1, 2019 @ 2:41 pm
Hi Jon,
Thank you for sharing this CCW news on a Friday afternoon.,this news, combined with the recent one. Both are amazing in that there is appears to be an inexpensive quick pathway to cashflow. The mine is built. The storage for the tailings is built. The test gravity circuit and now the spiral grinder is in hand. There is a massive amount of tailings that can feed the system and clean up the district at the same time.
Donald
Comment by donald — March 1, 2019 @ 2:55 pm
Slowly but surely for ccw, sounds good, oh ya I forgot about ggiās big rock. Weāre slowly gettin there folks.
Comment by Laddy — March 1, 2019 @ 3:08 pm
Seems Frank has set things up to drop a high-grade GOLD bomb during PDAC???
If you’re a Battery Mineral shareholder, you’re going to want to do a deal with CCW and very quickly – here’s why…
Battery is sitting on at least $60 million worth of just Silver and Gold (not counting Cobalt!) in tailings (a conservative estimate based on NI-43-101 resource), and they have no way to deal with it…they don’t have the know-how and can’t process those tailings underground like CCW can…easy for CCW to also pump those tailings underground and process them on the first level of Castle with the spiral concentrators (some of those tailings have already shifted onto CCW ground)…
Battery shareholders are anxious to start seeing some things happen with their company from both a listing perspective and a revenue perspective…this is how it all comes together between Battery and CCW…Mines Ministry would love to see the old O’Brien tailings cleaned up on Battery ground…
Comment by Jon - BMR — March 1, 2019 @ 3:16 pm
Moon had a higher volume a little bit cleaned out some , 160k a end of day at .04 cents maybe some thing happening with so little news or information may move nicely when it happens
Comment by robtr31 — March 1, 2019 @ 6:58 pm
Moon in right resource time will tell ? Zinc has added 1 cent to $1.28ā¦Zinc mines have been ramping up but smelters have not been able to keep pace, so shortages of refined metal have persistedā¦āMost if not all Western smelters are probably working flat out, but in China, with the environmental scrutiny clampdown, capacity is being cut and new capacity has been delayed,ā stated Robin Bhar, head of metals research at Societe Generale in Londonā¦āThe deficit in the refined market is being met by the drawdown in stocks, so thatās lending a lot of support to the Zinc priceā
Comment by robtr31 — March 1, 2019 @ 7:02 pm
Great news. I also think it is the first time they officially write in a NR that they will not do a feasibility study to base production at castle mine (not just for the tailing) and this is great. Really fast time to production, silver and cobalt at high grade underground, just mine the veins, donāt care about fancy feasibility study. This company will be a cash cow in the near future.
Maybe people will start catching that soon…!
Comment by rgiroux — March 2, 2019 @ 12:25 am
Great news for CCW. Jon since this is basically a clean up operation on the property with profit, has Frank applied for a grant from the government for the start up costs? The government does like giving money out for environmentally friendly projects.
Comment by Don MacNeil — March 2, 2019 @ 8:08 am
That’s a very interesting and valid point, Don, which we haven’t even brought up yet – the cash cow is not just the easy processing of Castle tailings, to immediately retrieve the Silver and Gold, but the dollars that can flow from provincial and/or federal coffers for not only this but a broader scale green project involving tailings elsewhere in the district…CCW drove value by being the only company in the district with critical underground access…now they will drive value by expanding on that and being the first company to address the tailings opportunity, with a proprietary technology (Re-2OX) that removes the arsenic from the ores and allows for recovery of Cobalt, precious and base metals…
Comment by Jon - BMR — March 2, 2019 @ 8:45 am
Hi Jon,
Nice looking channel samples from IMR, 6-16 g/t would be nice if they hit that with the drills. Hopefully we can get some assays soon from them, would be nice to drop some results for PDAC. Any idea when their VTEM will be available and if the warrant sellers will stop? Thanks
Comment by Vladdy — March 2, 2019 @ 9:36 am
Indeed, the Gold is showing it can run high in both the green carbonate and the red jasper conglomerates, Vladdy, with veining and fine-grained pyrite…imagine if they were to stumble across some VG…VTEM results this month I would imagine…
Comment by Jon - BMR — March 2, 2019 @ 10:09 am