Check back later this morning for today’s BMR Morning Market Musings.
1. Gold has traded between $1,247 and $1,254 so far today, touching a 4-week low…nearest key support is in the $1,230’s and investors should prepare for a test of that level…as of 7:00 am Pacific, Gold is down $6 an ounce at $1,247…Silver, after suffering its biggest weekly decline in 6 weeks, is off 13 cents at $16.56…U.S. inflation is a bit low but should rebound alongside wages as the labor market continues to improve, New York Fed President William Dudley (voting member of the FOMC) said this morning, reinforcing the message from the Fed that a recent patch of weak data is unlikely to derail plans to hike interest rates at least once more this year…
2. Economic optimism in the United States is surging, according to the latest CNBC All-America Economic Survey, with several key components hitting all-time highs…the CNBC survey finds that 30% of the public are optimistic about the economy now and for the future, the first time the percentage has been that high for back-to-back quarters during the survey’s 10-year history…
3. PyroGenesis Canada (PYR, TSX-V) announced this morning that it has signed its 3rd contract for a sample order of Titanium powder (Ti-6A1–4V) with a large manufacturer of 3D printers (all 3 orders are from different clients)…in addition, PYR has also successfully produced and delivered its first powder order…the 3rd order was placed during the ramp-up phase of the company’s powder production system…last week, PyroGenesis announced that it has created a new division under the name of PyroGenesis Additive, dedicated solely to the company’s additive manufacturing business line and the first step in a previously announced strategic spinoff…PyroGenesis is the inventor of plasma atomization and is using this process to produce very small, uniform, fully dense and spherical metal powders that flow like water and which are highly sought after in the additive manufacturing industry…PYR is up 3 cents at 92 cents as of 7:00 am Pacific…
4. The Venture snapped a 7-session losing skid Friday after RSI(2) conditions on the daily chart touched their most extreme oversold levels since the bottom of the bear market in January 2016…as of 7:00 am Pacific, the Venture is up 2 points at 778…Bonterra Resources (BTR, TSX-V) has increased its recently announced bought deal financing to $20 million from $13 million through a combination of flow-through shares at 84 cents ($15 million) and hard dollar shares at 50 cents ($5 million)…Cornerstone Capital (CGP, TSX-V) was halted pre-market, pending news…the company has been reporting strong drilling results for its Cascabel Copper-Gold porphyry joint venture project in northern Ecuador…iCo Therapeutics (ICO, TSX-V), coming off a high volume session Friday, is up another half penny to 5.5 cents in early trading with the potential for a near-term breakout above a symmetrical triangle and Fib. resistance at 6 cents…the broader markets have started the week strongly with the TSX up 107 points while the Dow has added 84 points as of 7:00 am Pacific…
5. EnGold Mines (EGM, TSX-V) was halted pre-open, pending news…the company’s most recent update on drilling at its Lac La Hache Property was June 5 when it reported that after a brief spell of poor weather, drilling had resumed north of the discovery area with 2 drills stepping out from holes G17–11 and G17–13…hole #11, located 50 m north of the original discovery hole, returned 11 m grading 1.16% Cu, 0.12 g/t Au and 6.2 g/t Ag…hole #13, 50 m east of hole #11, cut 18.25 m @ 1.2% Cu, 0.14 g/t Ag and 5.3 g/t Ag….
6. Nevada-licensed marijuana producer Friday Night (TGIF, CSE) made its public trading debut Friday on the Canadian Securities Exchange (CSE), finishing its first day at 32.5 cents for a market value of $44.2 million…Vancouver-headquartered Friday Night is the first pure-U.S. play publicly listed in Canada that is directly growing the plant in the U.S. for both medical and recreational use…American weed firms are forbidden to list on public stock exchanges in their home country because the drug is considered a Schedule I narcotic at the federal level…in the new Canada, however, everything’s ok as long as it feels good…TGIF’s robust market debut suggests there is significant investor interest in firms with U.S. state licences to cultivate pot…Friday Night’s move will likely be followed by a number of U.S. marijuana producers that have approached the CSE about potential listings as they eye the huge amounts of capital their Canadian peers have raised…the CSE believes that as long as an issuer complies with laws in the state in which it operates and adequately discloses the legal risks it faces, the company meets the exchange’s listing standards…TGIF is up a penny-and-a-half at 34 cents as of 7:00 am Pacific…
7. Critical Elements (CRE, TSX-V) hit another new all-time high of $1.08 during the first the first 30 minutes of trading this morning…the company is advancing its promising Rose Lithium-Tantum Project in northern Quebec, and a final feasibility study is due soon according to company’s latest news release last Thursday…
The most popular recent BMR articles…
Mr. P. Peter Pascali reports
PYROGENESIS ANNOUNCES SUCCESSFUL DELIVERY OF FIRST ORDER OF TITANIUM AND INCONEL POWDERS PLUS RECEIPT OF THIRD POWDER ORDER DURING RAMP-UP PHASE
Not only has PyroGenesis Canada Inc. signed its third contract for a sample order of titanium powder (Ti-6Al-4V) from a large manufacturer of 3-D printers, the name and origin of which will not be disclosed for competitive reasons, it has also, further to its press release dated April 25, 2017, successfully produced and delivered its first powder order. Of particular note is that this third order was also placed during the ramp-up phase of the Company’s powder production system (the “System”), during which time the Company had no expectations of any powder sales at all. All three orders were from different clients.
“As we previously announced, we did not expect this type of interest before ramp-up was complete, and we would have considered any sample orders (i.e. up to 500kg) made during ramp-up to be very significant as this would further validate our strategic decision to re-enter the market for powder production,” said P. Peter Pascali, President and CEO of PyroGenesis. “The fact that we now have received three sample orders in less than 4 months cannot be considered outlying interest, and underscores, what we believe to be, the market’s confidence in our capabilities and the underlying demand for our product. As we have said before, although these orders are sample orders, what is truly noteworthy is that they have been received during our ramp-up phase, and the fact that these clients have taken the time to sample our powders and allocate the funds to qualifying them internally, all before the ramp-up phase is complete, is extremely significant.”
“The level of interest in our capabilities has taken us all by surprise as we did not expect this much interest so early on in and, of course, we are happy with the results so far,” said Massimo Dattilo, Vice President of PyroGenesis Additive. “Of note in today’s announcement, is that the first order was not only for Ti-6Al-4V but also for Inconel powder. This is indeed a watershed mark for the Company as it underscores the flexibility in the system and our capabilities as a company; and it has all taken place well ahead of our most aggressive expectations.”
As previously announced, PyroGenesis is the inventor of Plasma Atomization. The Company’s System uses Plasma Atomization to make small, uniform, fully dense and spherical metal powders that flow like water, and which are highly sought after in the Additive Manufacturing (“AM”) Industry.
The Company first began producing powders using this technology for the biomedical industry between 2001-2004. In 2015, PyroGenesis invested approximately $2MM in improving both the production rate and particle size distribution, which led to a patent pending.
On March 30, 2017, the Company announced that it had completed the assembly of its first System and that the first powder run exceeded expectations. This System is the first of many PyroGenesis expects to make to address an increasing need for metal powders in the AM industry.1 The ramp-up of the System is expected to be completed over the next few months.
“Our team remains focused and dedicated to our commitments to deliver high quality powders to the Additive Manufacturing Industry, while continuing to innovate and improve our process which is arguably, already, the gold standard for the industry”, said Pierre Carabin, Chief Technology Officer of PyroGenesis. “We are on schedule and extremely happy with the continuous increase we are seeing in our process performance.”
Separately, PyroGenesis is also pleased to announce today that it is implementing an online marketing and awareness program through AGORACOM, wherein the Company will receive significant exposure through millions of content brand insertions on the AGORACOM network and extensive search engine and social media marketing. In addition, exclusive sponsorships of invaluable digital properties such as the AGORACOM home page, AGORACOM TV, and the AGORACOM Twitter account will serve to significantly raise awareness of PyroGenesis’ business among small cap investors. The PyroGenesis discussion forum can be found at https://agoracom.com/ir/PyroGenesisCanada/forums/discussion.
Additionally, AGORACOM has launched “CEO Verified” Discussion Forums, the first ever verification of small cap executive posts on a finance platform. For the first time ever, small cap CEOs and other company officials can use AGORACOM discussion forums as their main social media platform to post comments and interact with both shareholders and the broader investment community in a fully moderated and verified forum. Posts to AGORACOM are shareable on Twitter, Facebook and LinkedIn. There are no log-in requirements for investors to read posts; those wishing to post questions, comments and interact with PyroGenesis officials can quickly log-in using their Facebook or LinkedIn accounts, or create a new user account.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc. is the world leader in the design, development, manufacture and commercialization of advanced plasma processes. PyroGenesis provides engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, additive manufacturing (3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Its core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Its operations are ISO 9001:2008 certified, and have been ISO certified since 1997. PyroGenesis is a publicly-traded Canadian company on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace (Ticker Symbol: PYRNF). For more information, please visit http://www.pyrogenesis.com.
Comment by Jon - BMR — June 19, 2017 @ 7:40 am
PYR Looking strong, lots to like about what they are up to.
Comment by Maxwell — June 19, 2017 @ 9:05 am