Check back later this morning for today’s BMR Morning Market Musings.
1. Gold dipped as low as support at $1,180 this morning before bouncing higher…bullion is off $2 an ounce at $1,186 as of 7:00 am Pacific and is headed for its first weekly loss of 2017…the yellow metal got only a minor boost after disappointing 4th quarter U.S. GDP was released…the Dollar Index is flat at 100.49…
2. U.S. economic growth slowed more than expected in the 4th quarter as a plunge in shipments of soybeans weighed on exports, but steady consumer spending and rising business investment suggested the economy would continue to expand…GDP increased at a 1.9% annual rate, the Commerce Department reported this morning in its first estimate of 4th quarter growth…that was a sharp deceleration from the 3.5% clip logged in Q3…as a result, the economy grew only 1.6% in 2016, the weakest pace since 2011 and Democrats blame the Russians for losing Congress and the White House…
3. Significantly, the Venture has shrugged off the drop in Gold this week and has a good chance to close above 800 on a weekly basis for the first time since late September…the Index is up 2 points at 803 through the first 30 minutes of trading…the Dow and TSX are both relatively flat…
4. Golden Predator Mining (GPY, TSV-V) has hit a new multi-year high in early trading with the stock up 3.5 cents at $1.245 as of 7:00 am Pacific…GPY reported multiple high-grade intercepts last week from 2016 drilling at its 3 Aces Project in southeastern Yukon where it begins a new 20,000-m drill program next month…
5. K92 Mining (KNT, TSX-V) released the latest results this morning from its continuing grade-control drilling program at its high-grade Kainantu Gold mine in Papau New Guinea, and they included 8.2 m @ 33 g/t Au…K92 is currently ramping up Kainantu toward commercial production…approximately 80% of the holes completed to date have recorded multiple high-grade intersections indicating the presence of parallel to sub-parallel high-grade veins…KNT is up 4 cents at $1.01 as of 7:00 am Pacific…
6. It has been a strong week for Clean Commodities (CLE, TSX-V) which holds a large Uranium land package in the Athabasca Basin adjacent to NexGen Energy’s (NXE, TSX) world class Arrow deposit…CLE is steady at 9 cents in early trading but has climbed nearly 30% this week on much higher than usual volume…we’ll update a very encouraging CLE chart in today’s Morning Musings…
7. The runway Venture winner this week has been software company Alphinat (NPA, TSX-V) which is up another 4.5 cents in early trading to 18 cents after starting the week at just 4 cents…a few days ago the company, which has only 50 million shares outstanding, reported a profit of $260,000 for the quarter ended November 30…
CLE looking good with the large bids.
CAD on the move.
RLV may be of interest to keep an eye on as it corrects some.
Comment by dave — January 27, 2017 @ 8:10 am
Any news from the conference? Seems pretty quiet
Comment by weatheritout — January 27, 2017 @ 8:31 am
Looks like GGI is slowly breaking to the downside of that triangle. Hope something can push her to the upside…she sure is a pig to get moving consistently up
Comment by weatheritout — January 27, 2017 @ 8:36 am
Would love to see it drop a penny or two, weatheritout…not sure that’ll happen but all it takes is one impatient trader…
Comment by Jon - BMR — January 27, 2017 @ 10:51 am
Not me Jon….I have had more than enough time to build a substantial position in GGI. Would like to see it gain some substantial and sustained traction. They always seem to have good stories…just have trouble executing
Comment by weatheritout — January 27, 2017 @ 11:10 am
Jon did you happen to run into farshad at the Vancouver conference/roundup?
Comment by Sameer — January 27, 2017 @ 11:27 am
I am NOT getting “Morning Musing” lately, only 7@7
What is happening????….BM
Comment by brigm — January 27, 2017 @ 11:35 am
GGI – ya, would prefer to see the ‘pig’ go up a few pennies LOL.
Comment by david — January 27, 2017 @ 11:57 am
We pre-empted Morning Musings Tuesday through Thursday for Roundup in Vancouver, brigm….
Comment by Jon - BMR — January 27, 2017 @ 12:00 pm
GGI – rumored news on Monday keeps the 10 days NR cycle in place. Waiting for IROC ok. which way will it take us?
Comment by david — January 27, 2017 @ 12:21 pm
GGI
I’m pretty sure everyone on this board has loaded up with as much GGI as we need, I too want to see it do nothing but go up, hopefully it can overcome all of the negativity out there with a big splash with the camp, and with Makela and Goldie leading the way…
Comment by greg — January 27, 2017 @ 1:27 pm
greg, I am with you, I only want it to go in one direction, we have had plenty of time to load up!
Comment by Danny — January 27, 2017 @ 3:33 pm
I heard the Vancouver Conference was busy(?). Anybody go this year???
Comment by STEVEN1 — January 27, 2017 @ 9:22 pm
Venture had a great close today! and, this is monthend!!! So, look out Feb/March!
Comment by STEVEN1 — January 27, 2017 @ 9:22 pm