Gold has traded between $1,075 and $1,088 so far today…as of 10:30 am Pacific, bullion is down $5 an ounce at $1,077…Silver is off 13 cents at $14.15…Copper has slid another 2 pennies to $2.08…Crude Oil is up slightly at $40.76 while the U.S. Dollar Index has jumped more than half a point to 99.61…
Another Islamist terrorist attack this morning, exactly 1 week after the deadly attacks in Paris…gunmen, shouting “Allahu Akbar”, stormed a hotel in Mali’s capital today, killing at least 10 people and taking more than 170 hostage…they apparently freed those who were able to recite verses from the Koran, as security forces gained entry to the hotel…the attackers are still inside…the West African nation has been battling Islamist extremists for several years…
A top Federal Reserve official hinted yesterday that “some major central banks” could move away from near-zero interest rate policy “in the relatively near future. We have done everything we can to avoid surprising the markets and governments when we move,” said Fed Vice Chairman Stanley Fischer at a conference sponsored by the San Francisco Fed…Fischer noted that the question lingers of whether Asia and emerging markets are prepared for policy tightening by global central banks…emerging market central bankers have told the Fed to “just do it”, he added…
The likelihood of higher rates by year-end is 68%, up from 50% at the end of October, futures data show…
The Gold market has stabilized and appears to have pretty much factored in tightening by the Federal Reserve as early as next month, meaning much of the bearish news is now “baked in the cake”…prices tumbled by more than 10% over the last month to a new multi-year low this week before bargain-hunters stepped up to the plate…since any Fed tightening is likely to be very gradual, the best thing to happen to Gold might be to get the speculation of this initial rate hike out of the way…
Global holdings in exchange-traded products backed by Gold dropped to 1,504.54 metric tons yesterday, the lowest level since March 2009 according to data compiled by Bloomberg…
Agnico Eagle Mines (AEM, TSX) is emerging as the winner among major producers in the race to shield profit from slumping Gold prices, according to a Bloomberg News report…since Gold began a more than 40% plunge from its 2011 peak, the miner’s gross margins have narrowed by just 1.9% thanks to expansions and a strengthening U.S. dollar…for every dollar of Gold Agnico Eagle sold last quarter, 49 U.S. cents was gross profit, little changed from 4 years ago when Gold touched U.S. $1,900…that’s the best performance among 15 major producers tracked by Bloomberg, whose margins compressed by an average 64%…
In today’s Morning Musings…
1. Prospects for an important new northwest B.C. discovery grow at Grizzly Central…
2. A busy time at Pretium Resources‘ (PVG, TSX) Brucejack Project, and an updated PVG chart…
3. Updated TSX chart shows promise going into year-end…
4. Lucky LUC…
Plus more…to view the rest of today’s Morning Musings, login with your username and password, or click here to gain full access to this and other exclusive BMR content and features…
lucara announced it had found two more large diamonds one measuring 813 carats-the sixth largest ever recovered -and another measuring 374 carats in the same vein
Comment by kelly — November 20, 2015 @ 10:55 am
Dave – re CXV and PHM… there is no stock ownership between them right?? Dalsin saw CXV as a new venture.. TSX says market cap is 68 mil.. convalo website says 32 mil… is it just that the convalo site isnt updated?? they havent even put the latest acquisition on the site either…
interesting biz model.. and addictions are huge… 25 mil in the bank which equal to market cap or so… seems that something is off… or am I just weird:)??
whats your take?
Comment by Jeremy — November 20, 2015 @ 11:40 am
Jeremy, ha, no you not weird. No stock ownership between them. CXV just always rides PHM coat tails for some reason. I think they have not updated their website, I would go by TSX. remember, they are near the resistance in chart, or at least PHM is, cxv a little more to go maybe .34 – I would hold off on any buying and wait to see if they correct or blast through these resistance levels.
Comment by dave — November 20, 2015 @ 12:54 pm
Oh, GGI has support at .14 – Lets see if she holds there into next week. If not, .12 to .125 is absolute bottom, then she should walk another leg up.
Comment by dave — November 20, 2015 @ 12:58 pm
Hey man… had phm at 44 and sold there.. nervous… fk eh!!:) so I did see that CXV goes in some sort of tandem.. I also figured that it might have some room to go to 40 so got some at 31… 2nd tranche if needed would be back at 23ish I guess.. with the momentum of PHM one wonders…
is this all on the back of the BNN crap??? man this is nuts!!!!
Comment by Jeremy — November 20, 2015 @ 1:42 pm
Hey man… had phm at 44 and sold there.. nervous… fk eh!!:) so I did see that CXV goes in some sort of tandem.. I also figured that it might have some room to go to 40 so got some at 31… 2nd tranche if needed would be back at 23ish I guess.. with the momentum of PHM one wonders…
is this all on the back of the BNN crap??? man this is nuts!!!!
but they both are real companies which is good…
Comment by Jeremy — November 20, 2015 @ 1:42 pm
sorry for the duplicate!!:)
Comment by Jeremy — November 20, 2015 @ 1:43 pm
Yes they are real and producing revenue. .31 was the last heavy resistance on CXV. Monday is key and not intra day. You know the old saying, Never sell a stock on Monday.
PHM, WHY did you sell at .44, did you not see my post earlier this week?
Comment by dave — November 20, 2015 @ 2:01 pm
Jon, any guess on when assays will be released by GGI? I agree with previous comments that the markets wants assay results, cores are nice to look at and indicate that something is there but this is not a good market for juniors and only good assay results will take GGI higher. Here’s hoping but just in case I have taken all my initial capital back, never get too greedy.
Comment by Danny — November 20, 2015 @ 3:49 pm
Hi Jon, did that interview with Regoci happen today?
Comment by Dan1 — November 20, 2015 @ 4:58 pm
EQT- Korelin wk-end report, KH interview today……..
Comment by Bob — November 21, 2015 @ 4:14 am
EQT- Korelin Report, new interview with Kyler Hardy
Comment by murf — November 21, 2015 @ 6:06 am
EQT: kereport.com/2015/11/21/32236/
Comment by murf — November 21, 2015 @ 6:07 am
the latest interview with Kyler Hardy at The Korelin Economics Report website the weekend show nov 21 segment 2 -says assays in 10 days
Comment by kelly — November 21, 2015 @ 7:02 am
EQT – Kyler’s Quote from Korelin interview “You know Cory, it depends on if a discovery is made (Chuckle), I’d love to theorize (Chuckle)that we have something fantastic, but honestly we won’t know until the assays come back”
Comment by Dan1 — November 21, 2015 @ 9:32 am
That Korelin interview was interesting. Other than defending the game plan and the integrity of the players involved Sean Kingsley has been very tight lipped, but this interview is the most positive I’ve heard from inside the company in quite some time. Just my opinion of course but there seems to be more conviction in Hardy’s tone as he discusses the potential of a positive outcome and what we might expect from the company going forward compared to what their plan B is if assays don’t point to further exploration at Garland. With Dan Lee on site and an XRF Analyzer on site they have a very, very good idea what came out of those holes.
Thoughts anyone?
Comment by Treb — November 21, 2015 @ 9:35 am
Would touch phm. Lots of overhang and mad investors who got shagged by management. Management is quite shady. Cxr would be the better and less risky option if you can stomach their leverage. I would hold these long term. As dave said, best to trade these using TA
Comment by seamus — November 21, 2015 @ 10:16 am
Wouldn’t touch phm I meant
Comment by seamus — November 21, 2015 @ 10:17 am
I agree Treb, Kyler’s tone was very upbeat. I think they re on to something significant. They wouldn’t send assays and have petrographic analysis done if there wasn’t something of interest. Not much longer now.
Comment by Dan1 — November 21, 2015 @ 10:18 am
GGI – result are on our doorstep, lest see what these pyrite magnetite core can deliver,
From some Golden Bear mine report;
Mineralization in the Bear and Grizzly zones occurs in structurally controlled dilatency
zones developed along the Ophir Break. Gold values are most strongly associated with
extremely fine, dark grey to black sulphides, primarily pyrite. In the carbonates this
occurs as disseminations in silicious breccia matrix, or as fine coatings on crackle
surfaces (a very commonly observed texture).In the volcanics these fine sulphides occur
in dark grey, fine to medium grained tuffs and in fault gouge. Both rock types can host
economic gold grades. This pyrite mineralization is distinct from that in the
carbonatized volcanics, which is medium to coarse grained, brassy in colour, and
generally carries only geochemically anomalous gold values.
Comment by Sylvain — November 21, 2015 @ 10:59 am
Dan1, you will love what Regoci has to say. We have much to sort through and a lot on our plate, but we’ll have something very important to post by tomorrow.
Bottom line, the significance of hole 4 is huge, and that is going to be more obvious shortly. The same mineralized structure encountered under massive quartz in hole 3 (for more than 200 m) was also hit as another thick unit (dark mafic pyrite/magnetite, iron-rich) in hole 4, collared 600 m to the west-southwest, right to the bottom of the hole. Same thing in hole 1, 800 m to NW. Keep in mind they have an XRF on site. It would be reasonable to believe that all 3 of those holes, in that particular unit, ended in mineralization. What’s all in that unit, and on the other side of that unit at deeper levels, will be fascinating to find out. Camp is fully winterized and the drill program continues. GGI has a discovery on its hands – the questions are exact type(s), grade, and volume potential. The widely-spaced holes, and what they’re seeing in them, are already demonstrating the strong possibility of a system having a lot of volume to it. I personally believe that one of the surprises here is going to be on the Gold side.
Comment by Jon - BMR — November 21, 2015 @ 11:01 am
“And on the other side of that unit at deeper levels”? on the other side of the island? “at deeper level”
Can you explain Jon.
Comment by Martin — November 21, 2015 @ 11:14 am
The grade Jon! tell us about the grade :-),
Comment by Martin — November 21, 2015 @ 11:18 am
1/4 to 1 once?
Comment by Martin — November 21, 2015 @ 11:20 am
Where is hole 5 located? 500M east of GC-1501?
Comment by Martin — November 21, 2015 @ 11:24 am
The dark, mafic pyrite/magnetite unit contains the discovery, Martin – I don’t believe there can be any doubt about it given all the evidence to date including regional comparative data (we also know the high-grade gold at the Golden Bear mine to the west was most strongly associated with the pyrite, but there’s also a lot of interesting iron-enrichment data from the Hat and Star). The question also is, what might be on the other side of that unit once you’ve drilled through it? And of course how deep does it go? They haven’t drilled through it yet, even at more than 300 meters (and nothing looks better to the market if holes end in mineralization). Those answers will come with deeper drilling. At this stage of the game, it’s critical to test as many of these signatures as possible over a broad area, especially if you know you’re into good-looking core and you have an XRF that’s telling you something.
Comment by Jon - BMR — November 21, 2015 @ 11:32 am
Dave – got nervous thats all.. was going to be away for the day and it was hovering lower… then the BNN shite hit the fan an hour later… and boom there I am…
but I think I am going to migrate to CXV… P&F chart looks great with a 2 buck target.. more leverage and CXV outperformed PHM as well over the last year except for the last month…
Had my eye on PHM for a bit… so was using my own ‘TA’ as such…
sure wish I would have waited that ONE hour:)
Comment by Jeremy — November 21, 2015 @ 11:46 am
EQT: Another quote by Kyler Hardy from the Korelin Report:
“They’ll be pleasantly surprised with what we’re working on over the next little bit”.
Comment by murf — November 21, 2015 @ 12:04 pm
I’m hearing from my Vancouver source you know, the hot dog vendor on Georgia street that EQT assay results will be out late this coming week!!
GLTA!!
Comment by Jeff — November 21, 2015 @ 1:14 pm
He serves delicious hot dogs, Jeff…hope he’s as perfect with his timing prediction on these assays!
Comment by Jon - BMR — November 21, 2015 @ 1:30 pm
assays on EQT will not be out this week. week and a half to 2 weeks away.
Comment by dave — November 21, 2015 @ 2:04 pm
would GGI release assays from 7 additional drill hole from la patilla which are pending before grizzly
Comment by kelly — November 21, 2015 @ 3:26 pm
What happened on BNN with respect to PHM??
Comment by George — November 21, 2015 @ 3:39 pm
Kelly, we’ve just conducted a wide-ranging fresh interview with Regoci (video + audio). His perspective on what’s developing at the Grizzly, in the context of yesterday’s news, is eye-opening to say the least. His assessment will impact the entire district. On the question of Mexico, I specifically got into that with him and I do believe, as he alluded to in recent news, that there will be a major update from Mexico fairly soon. With La Patilla, I think it got caught up in the wheels of Grizzly/Sheslay like it did for a while back in 2014 – there was a delay on La Patilla results then, too, and when the results came they were fantastic. Regoci himself is super-focused right now on the Grizzly, for good reasons, and he’s focusing the market on that, while his team down in Mexico is working away on Rodadero, La Patilla, and other situations. So I guess when he thinks the timing is right, we’ll see some more Mexico magic. Plus there’s the Red Lion situation next to Teck. So there’s much going on – I just think he doesn’t want to confuse the messaging with too much at any one time. He’s on a roll at the Grizzly right now and that’s going to be a company-changer.
Comment by Jon - BMR — November 21, 2015 @ 3:50 pm
Eqt- Link to Korelin Report…… sounds good kereport.com/wp-content/uploads/1121-1-2.mp3
Comment by bigbear — November 21, 2015 @ 6:25 pm
EQT-
As of 11:59pm ET November 20th, 2015
Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction Volume or Value Price
Nov 20/15 Nov 19/15 Goldie, Raymond Direct Ownership Options 50 – Grant of options 250,000 $0.150
Nov 3/15 Oct 30/15 Hardy, Samuel Kyler Indirect Ownership Warrants 11 – Acquisition carried out privately 90,000 $0.125
Nov 3/15 Oct 30/15 Hardy, Samuel Kyler Indirect Ownership Common Shares 11 – Acquisition carried out privately 90,000 $0.125
– See more at: canadianinsider.com/company?menu_tickersearch=eqt#sthash.MdHTkJOj.dpuf
Comment by murf — November 21, 2015 @ 7:29 pm
EQT- Better link to Insider Trading, new Raymond Goldie Options
canadianinsider.com/company?menu_tickersearch=eqt
Comment by murf — November 21, 2015 @ 8:04 pm
If the grizzly turns out to be a company changer, it very well could be a life changer for a lot of GGI investors.
Comment by Dan1 — November 21, 2015 @ 8:05 pm
Jon do you think we have a chance of really getting some exitement in the market the way things are shaping up?
Comment by Martin — November 21, 2015 @ 9:13 pm
I mean we have a chance of hitting even better than most of us exepted when they started drilling.
Comment by Martin — November 21, 2015 @ 9:26 pm
Between GGI and DBV, Martin, the Sheslay district is going to come through for all of us. We will elaborate further on that tomorrow. Sleep well. We’re going to have fun and we’re going to make money.
Comment by Jon - BMR — November 21, 2015 @ 9:43 pm
Hey thanks 🙂
Comment by Martin — November 21, 2015 @ 10:00 pm
Jon, did Regoci give any indication as to when he expects the results to come back from the labs?
What were the grades that were reported from Golden Bear. I assume we are hoping for the same or even better.
Comment by Tom UK — November 22, 2015 @ 5:54 am
Average grade at the golden Bear was I believe around 11g/t.
Comment by Dan1 — November 22, 2015 @ 6:44 am
Actually it was 11.5 g/t at the Golden Bear mine.
Comment by Dan1 — November 22, 2015 @ 6:47 am
Tom, they’re pushing the lab as hard as they can for initial results, which is obviously a good sign. Labs aren’t very busy these days but they don’t have the staffing levels they used to, either.
We’ll cover a lot of issues in a special subscriber post later today. As far as the past producing Golden Bear mine is concerned, about 20 miles west of the Grizzly, those grades were about half an ounce per tonne. It was a prolific former producer (open-pit and underground, and the Gold mostly carried in the pyrite), which merely serves as an illustration of how this general region has possibilities that go beyond just Cu-Au porphyry.
(By the way, specifically, from 1989 until 1994, 218,000 ounces of Gold were produced at Golden Bear from 535,277 tonnes of ore (12.66 g/t Au or 0.45 ounces per tonne). An even higher grade resource was outlined down-dip from the Golden Bear in the Grizzly Zone, through about 5,000 m of drilling, by North American Metals in 1995 (153,000 tonnes grading a whopping 23.5 g/t Au). The Golden Bear re-opened as a high-grade seasonal heap leaching operation from 1997 to 2001.)
We’ve done a lot of research over the past couple of weeks based on the core descriptions and core photos from the Grizzly, and we’re close to making a call on what kind of system(s) Kaketsa has cooked up at Grizzly Central. Casual followers, especially, of the Sheslay district are in for a surprise.
Comment by Jon - BMR — November 22, 2015 @ 6:55 am
Hey Jon…why do you think the market is so muted on GGI so far? Do you think they just aren’t seeing the potential or putting the dots together?
Comment by weatheritout — November 22, 2015 @ 7:07 am
Thanks Jon and Dan. This could be quite an unbelievable investment that I have made. Totally life changing if we hit anything like the Golden Bear. I thought that 1% cueq would be a great start with the initial holes but some sections of the holes drilled so far could prove to be even better. ”Very interesting” were Steve’s comment on the XRF analyser – just how interesting?
Hole 5 is being drilled, I’d like to know where 🙂
Comment by Tom UK — November 22, 2015 @ 7:08 am
The market hasn’t been that muted, weatheritout, as GGI has doubled in just 6 weeks. In a better overall market (seasonal factors tell us that’s coming soon), both GGI and DBV would be considerably higher at the moment. Having said that, yes, you’re right – most market participants haven’t put the dots together yet. That’s good, actually, because you want to be positioned before the Johnny-come-lately’s figure it out. And they’ll start figuring it out soon enough.
Comment by Jon - BMR — November 22, 2015 @ 7:19 am
Let’s hope they give us a good ol fashion halt when they announce assays
Comment by weatheritout — November 22, 2015 @ 8:58 am
here here weatheritout!!
Comment by Tony T — November 22, 2015 @ 9:59 am
The first 103M interval could be copper rich as it host chalcopirite, trace of bornite plus malachite that is a copper bearing mineral with as much as 58% copper content. Core at 90 meter is packed with it.
Comment by Martin — November 22, 2015 @ 10:34 am
Martin, we’re working on some articles we’ll be posting beginning later today, but here’s an important quote from Regoci from our interview (the rest we’ll save for the article):
Regoci: “A key point, the really exciting and intriguing picture here, is that on hole 4, a 600-meter step-out to the west-southwest of hole 3, we hit another thick intersection of the same mineralized structure we drilled into for more than 200 m in the previous hole. Three widely-spaced holes, #4, #3 and #1, have now bottomed in this structure over a strike length approaching 1 km. In addition, above that structure we’ve seen extensive quartz veining along with finely disseminated chalcopyrite and impressive alteration. Right off the bat, this tells us that we could be dealing here with a potentially very large new system which may have some unique Kaketsa-produced aspects to it in this prolific district.”
Enough said, I would think.
Comment by Jon - BMR — November 22, 2015 @ 11:17 am