Gold has traded between $1,225 and $1,235 so far today…as of 11:00 am Pacific, the yellow metal is down $7 an ounce at $1,227…Silver has fallen 15 cents to $17.79…Copper is off 3 pennies at $2.65…Nickel is up slightly at $4.99…Crude Oil is flat at $53.24 while the U.S. Dollar Index has rallied one-third of a point to 101.68…
Fed Chair Janet Yellen reinforced expectations on Friday that the central bank would raise interest rates at its meeting next week, but Gold has been fairly resilient and should hold the $1,200 level based on technical factors…the last 2 Fed rate hikes have actually been a catalyst for higher Gold prices, so the current softness should once again prove to be an ideal accumulation opportunity in both the yellow metal and quality Gold stocks – assuming the Fed pulls the trigger March 15…
Rick Rule, CEO of Sprott U.S. Holdings, made these comments in an interview with Kitco’s Daniela Cambone at PDAC: “The U.S. dollar is strong and Gold is strong simultaneously. That’s only happened twice before in my career and in both cases, the dollar ultimately rolled over and Gold went into a sort of sling shot move. Is that going to happen this time? I don’t know but if past is prologue, I think it’s happening for the same reasons, so yes, I’m bullish.”
In Today’s Morning Musings…
1. Cobalt stocks buck the trend, push higher as Venture loses ground to begin “PDAC Week”…
2. Tinka excites investors with 400-m step-out hole that hits 11.6% Zn over 17.9 m…
3. Probe Metals (PRB, TSX-V) delivers richest Gold intercept ever at Val d’Or East…
4. Get the “Enforcer” on your side!…
5. Updated Silver charts – astonishing long-term trend!…
6. Daniel’s Den – when the circus comes to town, sell peanuts!…
Click here to receive, via email, BMR’s “Who’s Who” List of the Greater Cobalt Camp – the top dozen or so companies active in the district.
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Jon, any comments on Granada Gold Mine Inc latest news release/ LOI? Regards, Arjan
Comment by Arjan — March 6, 2017 @ 11:45 am
Very positive, Arjan…going in the right direction. These are never easy things to finalize but GGM obviously has a serious player at the table with a keen interest in the project. The Ontario angle (a mill there) is intriguing.
Comment by Jon - BMR — March 6, 2017 @ 12:24 pm
Big offer on CSR could disappear tomorrow. Or get chewed through. TA looking good on it. I imagine pp almost done
Comment by dave — March 6, 2017 @ 12:34 pm
Seems DRA does the technical advisory and there partner CCP the financial part/ due dilligence. CCP could be involved in financing the project. Seems everthing will worked out by may. Do you know DRA and/or CCP and their track record? What do you make up out of the shares performing this morning for GGM. Regards, Arjan
Comment by Arjan — March 6, 2017 @ 1:03 pm
What’s your opinion about XMG’s announcement today and the technology at all? Thanks
Comment by maikenders — March 6, 2017 @ 3:07 pm
Hi Guys
Just wondering your outlook on GGI from purely a technical standpoint as it seems to be slipping and didn’t react very positively to the recent news. Is there a support level you consider a key support level here. Thanks
Comment by Danny — March 6, 2017 @ 3:25 pm
Looks just fine, Danny, and John will provide an updated chart soon. Perspective – keep in mind that all the stocks in the Camp have been sluggish in general just recently with CXO closing today at 25 cents and others fairly quiet. That is all going to change.
Comment by Jon - BMR — March 6, 2017 @ 3:40 pm
Problem with recent news was investors were expecting the 3D Model. What we got was a detailed description of the geological setting and what GGI geologists believe exists at E&L. The VTEM along with the 3D model will be the catalyst in my opinion.
Comment by Dan1 — March 6, 2017 @ 3:42 pm
Jon
do you think as we get closer to being able to drill in the Heart of gold camp the stocks as a whole will perk up, sort of the quiet before the storm?
Comment by GREGH — March 6, 2017 @ 3:58 pm
Jon, do you know if GGI was able to conduct the VTEM yet? They were waiting for a couple good weather days. GGi really need to catch the attention of investors during the PDAC.
Comment by Dan1 — March 6, 2017 @ 4:33 pm
Greg, it just takes 1 or 2 triggers to create the spark that lights the fire…last year, if you recall, one of those triggers was the Seabridge buyout of SnipGold which occurred in April…..I predict we’ll see the fire get lighted anytime within the next several weeks…
Comment by Jon - BMR — March 6, 2017 @ 6:32 pm
Dan1, this first week of March has produced brutal weather in B.C. including record snowfalls on the south coast, more tonight with another warning…things will clear across the province, but it hasn’t happened yet…
Comment by Jon - BMR — March 6, 2017 @ 6:36 pm
Jon: are you guys at PDAC? How is the Cobalt rush???
Comment by STEVEN1 — March 6, 2017 @ 6:55 pm
Let’s talk about the real mover out there IMAGINATION PARK – IP and not all this other fluff 36 mill shares outstanding will be a world leader in Virtual Reality & Feature Films this will trade in the dollars $$ think I’m pumping watch and see when they sign major deals with the likes of the MAJOR USA studios buy it now you’ve been warned
Comment by Bernie — March 6, 2017 @ 6:59 pm
Hi Steven1, no, I’m stuck in Vancouver, trying to get caught up from recently being out east…Cobalt plays were among the top performers today on a down day on the Venture, so that’s a sign of continued strength in that group…
Comment by Jon - BMR — March 6, 2017 @ 7:05 pm
DEVERON SIGNS MULTI-YEAR CONTRACT TO PROVIDE DRONE BASED DATA SOLUTIONS
Deveron UAS Corp. has made a multiyear commitment to working with Thompsons Ltd. to provide leading-edge remote sensing data solutions to its growers. The contract is expected to run through 2018.
Thompsons Ltd., a wholly owned subsidiary of U.S.-based Lansing Trade Group LLC and the Andersons Inc., is a major agricultural retailer that has been in business since 1924. Its people and innovation have contributed to its success with a core focus of providing its growers with customized, advanced agronomy solutions.
Drone data are being incorporated into the revolutionary business of precision agriculture, which is a system that places the right product, at the right time, in the right place according to the unique variability on a farm. The focus of Thompsons’ advanced agronomy product is to help growers achieve more profit per acre. Drone data and on-demand imagery are key ingredients in this process that can help drive accurate field scouting, near-real-time crop maps, management zone creation for variable rate input prescriptions and detailed yield maps for growers.
“We are excited to be partnering with Deveron UAS to help us continue to more precisely document the variability that every field has,” commented Jevin Vyn, agronomy solutions specialist at Thompsons Ltd. “Deveron has proven to be a leader in the imagery market, and we believe that through our partnership we will be able to bring our customers new innovations in this space. As well, we will be able to utilize drone data on many of our customers’ acres to help them increase profitability on their farm.”
David MacMillan, president and chief executive officer, Deveron UAS, commented: “Our multiyear deal with a prestigious firm like Thompsons Ltd. is further evidence that Deveron continues to dominate and lead innovation in drone-data-related precision agriculture.”
About Deveron UAS Corp.
Deveron is an enterprise drone data services company focused on agriculture, offering the opportunity to increase yields and reduce costs using sophisticated unmanned aerial systems (UAS or drones), sensors, software and analytics. Deveron’s drone data service network allows enterprise level customers to obtain on-demand, actionable data without exposure to technology and capital risks. The company is focused on building a standardized constellation of drones and sensors to provide data in North America.
We seek Safe Harbor.
Comment by Jon - BMR — March 7, 2017 @ 6:25 am
GGI – stockTA isn’t that keen on .155 GGI , neutral Short+mid term. eek. something needs to happen to pop the SP pessimissim
Comment by david — March 7, 2017 @ 7:24 am
GGI
I’m still trying to fiqure out how GGI goes from being on the verge of breaking thru 20 cents with all the momentum to where it is now with apparently no momentum
Did Coffins remarks cause the decline? Just doesn’t make any sense ….
Comment by Greg — March 7, 2017 @ 8:37 am
Greg, this happens all the time with GGI. So much potential but…
Comment by Dennis — March 8, 2017 @ 9:25 am