8:00 am Pacific
Gold continues to hold above strong support at $1,350…the yellow metal has traded between $1,356 and $1,366 so far today…as of 8 am Pacific, Gold is off $2 an ounce at $1,360…Silver is down 18 cents at $28.30 while the U.S. Dollar Index is up one-quarter of a point to 79.34…Morgan Stanley has upgraded its 2011 Gold price estimates by 6.5% to $1,400 an ounce and its 2012 estimates by 6.4% to $1,330 an ounce…the broker also lifted its long-term price estimate by 21% to $905 an ounce in constant-dollar terms… “Identified and implied investment has increasingly become the main driver of demand in the gold market,” Morgan Stanley stated…it added that investment demand as a percentage of total demand increased to 31% in 2010, up from 9% in 2002…”We expect this percentage to rise further, to 43.5% in 2012, reflecting the continued growth in physically backed exchange-traded funds and physical bar hoarding”…ahead of his visit to Washington this week, Chinese President Hu Jintao has called the current U.S. dollar-dominated system a “product of the past” and has highlighted moves to turn the yuan into a global currency…a suite of data from Beijing is due Thursday including December inflation and fourth quarter economic growth which may provide clues on how much additional monetary tightening may be required in China over the coming months…the CDNX is steady so far this morning at 2270…Cadillac Mining (CQX, TSX-V) has added a major new project to its portfolio…the company has essentially tied up an entire former mining camp, securing all the known hard-rock Gold occurrences of the historic Goldstrike District in southern Utah…mining last took place there between 1988 and 1996 when 210,000 ounces of Gold and nearly 200,000 ounces of silver were recovered from 6,858,000 short tons of ore taken from 12 near-surface deposits extending over a roughly four-mile long trend…Cadillac President and CEO Victor Erickson stated, “Cadillac’s re-consolidation of the Goldstrike District presents an extraordinary opportunity…by applying recent advances in the understanding of Great Basin deposit models to a camp that was last mined at a time of much lower and declining Gold prices, we are confident that the potential for discovery of economic surface and deep-seated gold mineralization is high”…CQX, which also holds strategic properties along the Cadillac Trend in northwestern Quebec, is currently up two pennies at 38 cents…we’ll have more by tomorrow on Cadillac’s interesting acquisition…Gold Bullion Development (GBB, TSX-V) is off three pennies at 75 cents…the stock continues to trade in an area of strong technical support and staged a nice rebound Friday after dropping as low as 71 cents…GoldQuest Mining (GQC, TSX-V) is up half a penny at 37 cents…GoldQuest’s strength recently has been particularly impressive considering the company recently accelerated the warrant expiry date from a private placement last April…the new expiry date is next Monday, January 24…if all warrants are exercised, GoldQuest will add an additional $2 million to its treasury…the company continues to drill its very promising La Escandalosa Project (formerly Las Tres Palmas) in the Dominican Republic…Seafield Resources (SFF, TSX-V), which is expected to come out with more results in the near future from its Quinchia Project in Colombia, is off a penny at 55 cents…Currie Rose Resources (CUI, TSX-V) has stabilized after last week’s drop and is currently down half a penny at 18 cents…markets are generally quiet this morning, looking for direction…
Hi,
Do you know which BMR companies will be presenting at the Vancouver gold show next week?
I think this would be a great opportunity for exposure.
Comment by Rex D — January 17, 2011 @ 9:37 am
I am starting to wonder what is going on with GBB . It’s very quiet. To quiet.
Comment by Andre — January 17, 2011 @ 10:26 am
I noticed that in Sidon’s last news release it mentioned that management was onsite when the drilling concluded. Does this pose any significance, or do you think it was just a coincidence. Is it possible that management would be called onsite under certain circumstances?
Thanks,
Bill
Comment by Bill Hurley — January 17, 2011 @ 10:26 am
Hi there u hard working folks, see ur doing ur best again in the New Year. Question: Back in Nov. 2010 u had EVR.V in ur mix, I haven’t heard any news on that particular stk on ur board lately. Have u removed it? Is it still, in ur view a promising Jr. Miner?
Comment by nikolau — January 17, 2011 @ 11:33 am
Hi, see u folks are still hard at work doing what u do best. Question: EVR.v was in ur mix back in Nov 2010. Haven’t seen any reports on ur site for a long while on this Jr. Miner. Have u removed it? and if not, is it still in the running of potential upside in the future?
Comment by nikolay — January 17, 2011 @ 11:39 am
Hi Jon,
I was reading your write up on The Week IN Review on Gold Bullion Development and Read >> we can report that interest in the Granada Gold Property is as intense as ever among the geological crowd we spoke to…
Would you have heard in your visit to Rouyn-Noranda area if GENIVAR was also doing Mineral Exploration and Geology for other exploration companies in the Cadillac Trend?
Thank you and I do appreciate the hard work all of you guys at BMR are doing (one of the best sites I have come across when doing my DD on GBB and found a link to your site)
Comment by Charles — January 17, 2011 @ 12:29 pm
Nikolay, we just did a chart on Everton last week……..also, the interview with Andre Audet is still up on the site of course from late November….you will find it if you search through the files. Love the company and its prospects.
Comment by Jon - BMR — January 17, 2011 @ 1:40 pm
Hi Jon,do you still think there will be an update from GBB this week, prior to Vancouver Resource Investment Conference?
Comment by Forb — January 17, 2011 @ 2:17 pm
Hey Jon, a simple yes or no would have sufficed!!!!
Comment by Forb — January 17, 2011 @ 4:27 pm
I stated last week I thought there was a very good chance, given the Resource Show, and I still think that. I also stated I’ve been wrong before on hunches. Anyone’s guess but I think the odds are pretty good.
Comment by Jon - BMR — January 17, 2011 @ 5:16 pm
Thanx a lot Jon.
Comment by Forb — January 17, 2011 @ 5:20 pm
Hi Jon,
I was wondering where I the website I could find your recommded BMR list of stocks to own? If it’s not available on the site is it possible to have it emailed to me?
Thanks,
Rob
Comment by Rob — January 17, 2011 @ 7:33 pm
Rob, they have covered them all in “The Week In Review And A Look Ahead: Part 2 Of 3, and Part 3 Of 3” Look, and you shall find..
Comment by J.C. — January 17, 2011 @ 8:10 pm
GBB?
Show’s over folks!!
Comment by Black Bear — January 17, 2011 @ 8:56 pm
Thank you for your feedback, Black Bear, but I have to jump in and say you’re flat-out wrong on that one – in fact I don’t think the GBB show has even started yet IMHO. The next couple of months I think are going to be very, very interesting.
Comment by Jon - BMR — January 17, 2011 @ 9:24 pm
Hello BMR!
Any comment about ABI:s news? It look good if you ask me! Did the news come after closing?
Comment by Carl — January 18, 2011 @ 1:40 am
Yes, the news came after closing. Excellent news – during our recent trip to Rouyn, we met a number of people (geologists and others in the industry) who commented very favorably on this project. Again, it’s a situation where extensions to a previous mine have been and are being discovered. Very nice grades and widths going west and going east. To the north is Tagami where ABI has discovered even higher grades. New 10,000 metre drill program just underway. Lots of infrastructure on site. We see a strong possibility of ABI being able to put Elder back into production by as early as sometime next year. Great news yesterday from CQX as well—–we’ll be commenting on both ABI and CQX this morning. Cadillac has secured a gold project with huge upside in Utah near the Nevada border.
Comment by Jon - BMR — January 18, 2011 @ 5:07 am
I am interested in the comment by “BLACK BEAR”. Would he care to expand on his thinking?
Comment by MJJP — January 18, 2011 @ 8:52 am
MJJP> Totally waste of time giving any thought about that comment, because there is no weight behind it. Look at any board discussing stocks, you always gonna find these ppl with negative comments about something that is clearly very good. I would say GBB is the safest case among all the juniors on BMR, that is my opinion though, but that doesn’t mean it has the less potential. Medium risk/high reward imo.
Comment by J.C. — January 18, 2011 @ 9:43 am
JC
I am a contrarian by nature and am always wanting to see what I can’t.For me it’s not so much the company and its potential as it is the people involved. Basa brings a lot to the plate in my opinion.
Thanks
Comment by MJJP — January 19, 2011 @ 3:10 am