Check back later this morning for today’s Morning Musings.
1. Gold pricesĀ are holding steady just above $1,300 an ounce after a ho-hum U.S. jobs report this morning that showed a slightly lower-than-expected headline number of 161,000 while the unemployment rate remained unchanged at 4.9%…wages were a bright spot as they increased at an annualized rate of 2.8%…
2. The S&P 500 has declined for 8 straight sessions and today will try to snap its longest losing skid since October 2008…what’s on the horizon? – updated charts for the S&P 500, Dow and TSX in today’s Morning Musings…
3. Doubleview Capital (DBV, TSX-V) announced this morning that it has commenced a 2,000-m drill program at the Hat Project in the Sheslay district to further test the Gold-Copper porphyry deposit laterally and at depth…in recent weeks a Doubleview crew, using a small portable drill, has completed a series of very shallow holes in areas south and northeast of the Lisle Zone that confirm the presence of sulphide mineralization…those shallow exploration holes were for the purpose of obtaining additional geological information in areas of very limited outcrop and will assist in better placement of future diamond drill holes…DBV is up half a penny at 8.5 cents as of 7:00 am Pacific…
4. Keep an eye on Salazar Resources (SRL, TSX-V) – its promising El Domo VMS project in Ecuador, with significant Indicated and Inferred resources including 6 million Indicated tonnes of 2.3% Cu, 3% Zn, 3 g/t Au and 56 g/t Ag, is finally getting drilled again as SRL has started a 40-hole program…drilling will attempt to expand the El Domo deposit and locate new discoveries around its margins and regionally…
5. Cameo Resources (CRU, TSX-V) is the runaway Venture volume leader in early trading, up 2 cents at 5.5 cents as of 7:00 am Pacific after announcing it’s exploring multiple acquisition opportunities in the medical marijuana and cannabidiol industry…
6. Crude Oil prices are on course for their 6th straight day of losses, dragged lower by a surge in U.S. Crude inventories and doubts over the ability of producers to coordinate output cuts…meanwhile, Reuters has just reported that Saudi Arabia has threatened to raise Oil output sharply to bring prices down if Iran refuses to limit its production…
7. Election update –Ā FiveThirtyEight hasĀ again slightly boosted Donald Trump’s chances of winning the Electoral College to 33.5%, andĀ the Republican hasĀ “many paths to victory” if he’s within at leastĀ 2 percentage points of Hillary Clinton in the popular vote…FiveThirtyEight shows Clinton’s lead over TrumpĀ has narrowed to 3.1 percentage points…
BEX results are out… disappointing is an understatement…
Comment by Jeremy — November 4, 2016 @ 6:58 am
Why would you say that, Jeremy?
Comment by Jon - BMR — November 4, 2016 @ 7:14 am
Yes, BEX is so so on the results, hence, Shawn Ryan left all the land south of marathon where BEX is located and went to the northeast where als is located. Like I said, next spring gets interesting. If anything, a good speculation run and thats where the easy money is made.
Comment by dave — November 4, 2016 @ 7:14 am
JOn.. narrow widths at depth.. grade not bad on some.. but I would say that this area would be uneconomical to be considered for anything..
thats a laymans take.. whats yours Jon??
Comment by Jeremy — November 4, 2016 @ 7:25 am
Some of these grades and widths are even better than those included in the PEA that gave a pre-tax IRR of 29%, Jeremy…I wouldn’t interpret the slight pullback as a negative on the results…more a reflection of the current market and of course the tendency of traders/investors to sell immediately into any drill result news, no matter what it is…
Comment by Jon - BMR — November 4, 2016 @ 7:53 am
well I did sell half.. limit exposure.. numbers just seem ‘boring’ and again am just a simple layman:)
Comment by Jeremy — November 4, 2016 @ 8:07 am
Never hurts to lock in some profits, Jeremy, and lower your average price.
Comment by Jon - BMR — November 4, 2016 @ 8:24 am
broke even mate:) oh well .. BTW cuz.v have you covered this in past musings?? I had a call from some guy and said that on the 16th there is a 3 for 1` forward split… hmmmmm
Comment by Jeremy — November 4, 2016 @ 8:51 am