Check back later today for separate postings. BMR Morning Market Musings returns Friday following Roundup in Vancouver.
1. Gold is under pressure this morning as U.S. equities surge and following a prediction by the World Bank that bullion will lead a decline in the precious metals complex this year with a loss of 8%…the institution is calling for an average 2017 Gold price of $1,150…bullish contrarian indicator!…it seems investors are forgetting the horrendously inaccurate Gold forecast issued by the World Bank in the middle of 2015. “Downside risks to the forecast are stronger economic growth and faster-than-expected increases in U.S. interest rates. Upside risks include geopolitical tensions, stronger demand in China and India, delayed rates hikes, and mine supply shortfall,” the World Bank said in its report…
2. For what it’s worth, the World Bank is more bullish on the base metals sector this year…it expects prices increasing 11% in 2017 due to growing demand and tighter supplies…
3. U.S. equities rose to all-time highs this morning after a series of executive orders from President Trump increased bullish sentiment on Wall Street…the Dow broke the 20,000 level for the first time shortly after the open and is up 120 points at 20,033 as of 7:00 am Pacific…Boeing and Caterpillar have contributed most of the most gains…in Toronto, the TSX has added 36 points while the Venture has slipped 5 points to 802 as of 7:00 am Pacific with Gold and Oil both weak this morning…
4. Marathon Gold (MOZ, TSX) has made continued success at intersecting wide intervals of strong Gold grades in the first 2 drill holes of its 2017 drilling campaign at the Marathon deposit in the Valentine Lake Gold Camp…best intercepts include 3.4 g/t Au (uncut) over 50 m in MA-17–159 (88 m to 138 m), another 50 m grading 2.6 g/t Au deeper in the hole (161 m to 211 m) followed by 13 m @ 7.5 g/t Au between 258 m and 271 m…drill hole MA-17–158 returned 1.5 g/t Au over 73 m including 6.4 g/t Au over 7 m and 3.5 g/t Au over 6 m in MA-17–158…MOZ is up 2 pennies at 78 cents as of 7:00 am Pacific…
5. Atlantic Gold (AGB, TSX-V) has hit near-surface high-grade Gold, including 13 m @ 21.8 g/t Au (includes 1 m @ 263 g/t Au), in several of the first 8 holes drilled 300 m south of its Fifteen Mile Stream deposit in Nova Scotia…AGB features Canada’s only open-pit Gold project which is permitted, financed and in construction…AGB is off a penny at 96 cents as of 7:00 am Pacific…
6. Calibre Mining (CXB, TSX-V) has commenced its first 2 drilling programs of 2017 on the Borosi concession, northeast Nicaragua…the first drill program is at the Eastern Borosi Project, which is being funded by Calibre’s partner IAMGOLD (IMG, TSX), and the 2nd program is on the 100% Calibre owned Monte Carmelo Gold Skarn Project…
7. Canadian Zeolite (CNZ, TSX-V) is up slightly in early trading after announcing that it has reached an MOU with a California-based grower and distributor of avocados and citrus products…under the terms of the MOU, CNZ will supply the grower with Zeolite, as well as specifically developed Zeoponics and Zeolitic substrates, to be used as growing media to nhance the overall health of the plants while also significantly reducing the amount of water consumption…
world bank prediction really means buy gold and hold, they want what you have! suckers born every minute!
Comment by Greg — January 25, 2017 @ 8:01 am
On his campaign trail trump said we were in a big fat bubble and the Dow was less than 18k, now one week into office and it’s over 20k. This is getting ridiculous and the small time retail investors will get caught holding the bag. Trump needs to pop this bubble already before it gets even bigger and the media blames it all on him.
Comment by Sameer — January 25, 2017 @ 9:37 am
SCG – WOW. I followed that stock in 2015 and into last year when it was in the 40’s and 50′. The ones who took a chance at .03 all this month. WOW
Comment by dave — January 25, 2017 @ 10:05 am
i totally agree with you Sameer, this is going to get really ugly… cant wait to see greed get what they deserve!
Comment by Greg — January 25, 2017 @ 11:16 am
Jon, you didn’t bite yet on the Makela interview question. Do you have a timeline on when the interview wiki take place?
Comment by Dan1 — January 25, 2017 @ 1:19 pm
Another huge volume day for CLE, someone is accumulating big time.
Comment by Danny — January 25, 2017 @ 1:37 pm
COR is still looking good. One of my pics last year from Peru
Comment by dave — January 25, 2017 @ 1:42 pm
PDN.V … uranium.. some debt issues but broke out today.. also ROI.v… I am doing some market research for them and in my first 2 weeks the market is bigger than I thought it could be… and I already knew it was bigger than what they have already..
just sayin!!
Comment by Jeremy — January 25, 2017 @ 2:33 pm
Eskay Mining (ESK, TSX-V) halted, pre-market. There’s no question they have an incredible land package in the Heart of Gold Camp, not only contiguous to Eskay Creek but a 5 km stretch of Eskay rocks and all the right ingredients for another Eskay Creek discovery. My hope has been that they can find a partner to drill this monster as an aggressive program at SIB would be huge for the company and the district.
Comment by Jon - BMR — January 26, 2017 @ 5:47 am
Can’t recall when I’ve seen the jobless claims higher than estimates, yet the dollar is surging.??? Now the heck with 20 k Dow, analysts are already talking 25 k Dow,, REALLY!!!!s
Comment by Laddy — January 26, 2017 @ 6:09 am
Laddy I wouldn’t be surprised anymore, and will trump care about this bubble before it’s too late? He probably doesn’t care right now bc it’s making him look good and he’s taking credit for it.
Comment by Sameer — January 26, 2017 @ 7:05 am
Yeah your probably right sameer, wondering where I guy can buy those try before you buy pot stocks.
Comment by Laddy — January 26, 2017 @ 8:27 am