Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information!
1. Gold has traded between $1,303 and $1,312 so far today as investors focus on a new 2-day Fed meeting that begins this morning…as of 7:00 am Pacific, bullion is up $6 an ounce at $1,309…the Fed tomorrow is expected to lower its interest rate forecasts, or “dot plots”, to show little or no further tightening in 2019…with global economic growth appearing to slow, most market participants anticipate the U.S. central bank to adopt a cautious tone…how much of this dovishness is already “baked” into the market we’ll see as the week unfolds…SPDR Gold holdings posted their biggest daily gain yesterday since January 18th…Palladium has hit a new all-time high, crossing the $1,600 an ounce mark for the first time as news that Russia is planning to ban exports of precious metals scrap fuelled concerns over an already supply-constrained market…Palladium also continues to get help from China, the world’s biggest auto market, which continues to enforce stimulus measures to boost its tiring economy…Silver has added 7 cents to $15.39…Copper is up a penny at $2.94…Chilean miner Antofagasta expects a deficit of between 100,000 and 300,000 tonnes in the global Copper market in 2019, CEO Iván Arriagada said today…Nickel is 6 cents higher at $5.93 while Zinc has gained 1 cent to $1.29…Crude Oil hit a new 2019 high this morning, currently up 18 cents at $59.27…the U.S. Dollar Index has retreated one-tenth of a point to 96.40…lawyers for British Columbia’s anti-Oil socialist government argued in court yesterday that B.C. should have the authority to limit Oil shipments on federally regulated export pipelines within the province, such as the Trans Mountain expansion project, which of course would effectively give the province a “veto” over federally authorized, interprovincial infrastructure projects…such a scenario should be viewed by any reasonable judge as contrary to the Canadian constitution…meanwhile, the embattled Liberal federal government rolls out a new budget today which will be far from balanced as Prime Minister Trudeau promised voters in the last election…the 2018 budget actually mentioned the word “gender” more than 150 times but not once mentioned the word “pipeline”…that defined Trudeau’s real priorities as the most far-left PM in Canadian history…not surprisingly, Canada’s economy in Q4 grew at a paltry annualized rate of just 0.4% vs. a much more robust 2.6% in the United States…as Kevin O’Leary has pointed out repeatedly, Canada is just a very poorly managed country these days…
2. U.S. economic growth is set to slow significantly this year and next, according to respondents to the CNBC Fed Survey for March, and weaker global growth and tariffs are seen as the major culprits…the average forecast for GDP growth this year is just 2.3%, down from 2.4% expected in the January survey and a further slowing from the actual 3.1% year-over-year pace for the 4th quarter of 2018…economic growth is seen stepping down below 2% in 2020, according to the survey…the outlook for slower growth has prompted the 43 survey respondents to lower their expectations for Fed rate hikes this year and next – barely forecasting 1 hike and some even seeing rate cuts on the horizon…asked about the biggest threats to the U.S. expansion, slowing global growth and protectionist trade policies ranked No. 1 and No. 2, respectively…however, the concerns about trade policy come from a group where 51% approve of President Trump’s handling of the economy and only 32% disapprove…a weak outlook for growth abroad knocked just under half a percentage point off GDP forecasts this year, according to respondents, who include economists, fund managers and strategists…tariffs, both those put in place by the Trump administration and retaliatory tariffs from other countries, are estimated to cut one-fifth of a percentage point from growth…how does the Fed process all these crosscurrents? – with fewer rate hikes and a bigger balance sheet, according to respondents…60% still see a rate hike this year, but that’s down from 78% in the January survey…notably, 14% forecast a rate cut, rising to 35% in 2020…
3. Exploration spending in the prolific Eskay region this summer is expected to hit a new all-time high…1 junior that was not involved in the district last year, Crystal Lake Mining (CLM, TSX-V), has just raised $4 million for its Newmont Lake Project, starting 15 km northwest of Nickel Mountain, which features an historic Gold resource and multiple high-grade opportunities along the McLymont Fault, in addition to a new grassroots drilling discovery at Burgundy Ridge announced 10 days ago that includes high-grade Copper plus Gold, Silver, Cobalt and Zinc in a potential large-scale porphyry system west of the McLymont Fault…meanwhile, Tudor Gold (TUD, TSX-V) has just completed a $3 million private placement with Eric Sprott taking half of that amount in his first investment in the company…Tudor owns 60% of the Treaty Creek Project which borders Seabridge Gold’s (SEA, TSX) KSM Property to the southwest and Pretium Resources‘ (PGX, TSX) Brucejack mine property to the southeast…Garibaldi Resources (GGI, TSX-V), Crystal Lake, Metallis Resources (MTS, TSX-V), Aben Resources (ABN, TSX-V), Etruscus Resources (ETR, CSE) and Tudor Gold top BMR’s list of best opportunities among juniors in the district this summer…
4. The Dow is up 86 points through the first 30 minutes of trading…in Toronto, the TSX has lost 15 points while the Venture has jumped another 3 points to 636, a new yearly high…Harvest Cannabis (HVT, TSX-V) continues to run, slightly surpassing its 2018 high of $1.10 in early trading…Corvus Gold (KOR, TSX) has drilled its best hole yet at Mother Lode in Nevada, a 126-m intercept grading 1.85 g/t Au that outlines a major new and expanding center of the deposit north of the existing resource…resource expansion drilling at Mother Lode is ongoing with 15,000 m planned during the current phase…ML-19–104 had thick intervals of underground-type grades in the 4–6 g/t Gold range with the bottom of the hole averaging almost 5 g/t Au…this hole, along with previously reported ML-18–093 (116 m @ 1.8 g/t Au) and ML-18–087 (114 m 1.4 g/t Au) are defining a large new deposit north of the currently defined resource…First Vanadium (FVAN, TSX-V), formerly Cornerstone Metals, has more than doubled the size of its Carlin Vanadium Property from 1,331 acres to 3,177 acres…the new claims provide the company with a larger working area around the Carlin Vanadium deposit…Vanadium is growing in importance for key industrial manufacturing sectors, most notably steel and renewable energy…
5. Westhaven Ventures (WHN, TSX-V) is off to a flying start in 2019 drilling at its Shovelhose high-grade Gold discovery near Merritt in B.C.’s southern interior…the first hole of this year’s campaign (SN-19–01) has returned 12.7 m grading 39.3 g/t Au and 133.1 g/t Ag from 154.34 m to 167.0 m …assays are pending for SN-19–02 which cut an intercept of rhyolite breccia with sections of banded quartz, ginger, pyrite and visible Gold in veins between approximately 137 m and 177 m…SN-19–03 is currently in progress…based on the geology of the vein zone with a steep dip to the west, the company says true widths are estimated to be about 80% to 90% of reported interval lengths…Gareth Thomas, Westhaven President & CEO, commented, “SN19–01 contains the highest gram-metres (497.66 g-m) intercept to date on Shovelnose. It was drilled at 50-m strike spacing between hole SN18–14 (435.36 g-m) and hole SN 18–15 (413.49 g-m). South zone drilling continues to define the extent and demonstrate the continuity of this Gold-mineralized vein system. Drill intercepts of this grade and thickness strengthen management’s belief that we’re dealing with a large, high-grade Gold system”…WHN jumped 19 cents yesterday following the halt, closing at $1.12 on total volume (all exchanges) of 1.3 million shares…the stock broke above its 50-day SMA which had been resistance since mid-January…
6. Chemesis International (CSI, CSE) announced this morning that it has arranged a partnership with First Medical Cannabis LLC to commence exclusive cultivation of hemp with high yields of cannabidiol…with the anticipation of hemp legalization in Puerto Rico, the company continues to increase its foothold on the island and now has the ability to cultivate high yield CBD derived from hemp on a large scale for distribution on the island and the mainland USA…initially, Chemesis will have access to 1,000 acres for hemp cultivation, and will have the option to expand up to an additional 5,000 acres of prime agricultural estate…in total, the partnership and joint venture with First Medical Cannabis provides CSI with access of up to 6,000 acres of agricultural land in Puerto Rico…Chemesis will leverage its fully compliant facility to manufacture, process, and distribute hemp-derived CBD products…the facility has the ability to off-take all hemp produced by First Medical, and process into finished goods for sale in domestic and international markets, including the continental United States…Puerto Rico has a competitive advantage as the climate, soil, and geographical region allow for a much longer growing season…“Since the last of Puerto Rico’s sugar mills closed in 2000, the island has been in need of an agricultural revolution and the hemp industry promises much needed jobs,” said Chemesis CEO Edgar Montero. “Puerto Rico’s tropical climate makes the island an ideal competitor in the hemp industry, furthermore it will allow the company to harvest up to 3 crops per year compared to 1 in many areas around the world”…CSI is up 4 cents at $2.07 as of 7:00 am Pacific…
7. Tilray (TLRY, NASDAQ) has reported that its cannabis sales more than doubled over the last year…Tilray’s 4th-quarter revenue of $15.5 million lifted 2018 sales to $43.1 million, up 110% from last year…the surge was driven by bulk sales, the first months of the legal adult-use market in Canada and accelerated wholesale exports, according to its latest financial update…analysts had expected Q4 sales of $14.1 million…“Our team made significant progress on our long-term initiatives including increasing production capacity, expanding and strengthening strategic partnerships, and acquiring complementary businesses to accelerate our future growth and leadership position in medical and adult-use cannabis,” Tilray CEO Brendan Kennedy stated…net loss for the quarter was $31 million, or 33 cents per share, compared to $3 million, or 4 cents per share, for the prior-year period…the company also said that the number of kilograms of cannabis and derivative products increased nearly 3-fold to 2,053 from 694 kilograms compared to the 4th quarter of 2017…kilograms sold in 2018 more than doubled to 6,478 from 3,024 in the prior year…Tilray expanded a number of strategic partnerships with global partners in Q4…
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It may be time to check in on Lion One Metals agan. v.lio Their assay lab is about done, they bought a drill company and are expected to announce a drill program shortly.
The big news lately is that Dr Quinton Hennigh has joined the excellent mining team of LION’s. This announcement has triggered a lot of interest in the Tuvatu mine, its surrounding tenements, and the rest of the Navilawa caldera.
My guess is that he sees Lion’s holdings to be potentially equal to or larger than the 14 mill ounces au at Vatakoula, and perhaps be the bigger brother to their twin 40 miles to the northeast.
Comment by carl — March 19, 2019 @ 8:27 am
If anyone needs a laugh, I mean a REALLY GOOD LAUGH, go check out the latest banter on ceo.ca regarding ccw. I don’t know whether to cry or wind my watch. Good Grief. Between the shorters, warrants being exercised, lack of news, tardy drill results, lack of a mass balance data, and a ceo who puts out news releases after Friday closes, the stock will never go back up, so your a sucker if you buy it. Hmm. Actually, If all the above is true and the stock still hasn’t been pummelled back to the twenties, isn’t that a sign of strength and therefor a buy? I dunno. Maybe I’m overthinking it. Whatever. I’m buying.
Comment by DBReese — March 19, 2019 @ 1:30 pm
You nailed it, DBReese, best buy signal u could get…
Comment by Jon - BMR — March 19, 2019 @ 3:47 pm
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1960-tsx-venture/tud/59659-tudor-gold-announces-settlement-of-debt.html
Comment by BCCoastal — March 20, 2019 @ 6:26 am