Check back later today for additional posts including Daniel’s Den, and visit the comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,243 and $1,249 so far today ahead of a Fed statement at 11:00 am Pacific to conclude its 2-day meeting…as of 7:00 am Pacific, bullion is down $2 an ounce at $1,247…Silver is relatively unchanged at $16.43…Copper, strong again today, is leading the base metal group with a gain of 5 cents to $2.86 while Nickel is off slightly around $4.50…Crude Oil is higher for the 3rd straight session, up 32 cents a barrel to $48.21, while the U.S. Dollar Index is flat at 94.09…
2. Oil prices advanced again today after an industry group predicted that official data later in the day will show that U.S. inventories fell sharply last week…the American Petroleum Institute yesterday estimated that U.S. supplies dropped by 10.2 million barrels in the week ended July 21 – quadruple the drop projected in a Wall Street Journal survey for the official data from the Energy Information Administration that will be released within the hour (API’s forecasts often vary significantly from the official data)…
3. Copper prices rose to their highest level in more than 2 years (since May 15) this morning on optimism that accelerating growth in Asia and Europe will stoke demand for the industrial metal…a catalyst may have been the International Monetary Fund’s revised 2017 outlook for China, the world’s largest Copper consumer, while the IMF is also projecting better than expected growth for Europe and Japan…meanwhile, Germany’s Ifo business survey yesterday showed confidence soaring to record highs in July, while U.S. consumer confidence levels have jumped to almost 16 year-highs…many investors look to Copper as a barometer for the global economy’s health as the metal is a key component in manufacturing and construction…later this week we’ll take a look at the correlation between Copper and the Venture…
4. The broader markets are robust again this morning on strong corporate earnings reports…the Dow has soared 111 points as of 7:00 am Pacific while the TSX has climbed 83 points…the Venture is still trying to gain steam but is flashing some positive signals…the Index is up 3 points at 767 through the first 30 minutes of trading…GT Gold (GTT, TSX-V), yesterday’s big mover, pushed as high as high as $1.09 (7 cents shy of nearest Fib. resistance) before some profit taking set in and the stock pulled back to 84 cents, 9 cents above new technical support…Colorado Resources (CXO, TSX-V), currently drilling at KSP in the Eskay Heart of Gold Camp, holds prospective ground contiguous to GT Gold’s Tatogga Property…Gold-Copper mineralization at CXO’s Castle Property property is open, and potentially strengthening to the east, over a distance of 4.4 km to the property boundary toward the Saddle zone discovery…
5. Next up on the discovery front in northwest B.C. is Garibaldi Resources (GGI, TSX-V) where drilling begins shortly at Nickel Mountain, 11 miles southwest of Eskay Creek, which is the Golden Triangle’s only Nickel-Copper-rich magmatic massive sulphide system – open in all directions for expansion…Critical Elements (CRE, TSX-V) is trading at a new all-time high of $1.28…Constantine Metals (CEM, TSX-V) hit a new 52-week high of 19.5 cents yesterday on increased volume…drilling at the company’s flagship Palmer VMS Project in Alaska began over a month ago…Enforcer Gold (VEIN, TSX-V), in the midst of a drill program at its Montalembert Gold Project in northern Quebec, reported a high-grade channel sampling result this morning of 3,310 g/t Au over 1 m…a second channel was collected about 20 m to the north and returned 1.93 g/t Au over 1 m…the results come from the No. 2 shear zone to the north of the historical exposure limit…high-grade pockets of mineralization have been confirmed along the 189 m length of the vein that is currently exposed…diamond drilling will soon test this structure…
6. Aben Resources (ABN, TSX-V) announced this morning that it’s commencing a 2,100-m drill program in early August at its Forrest Kerr Project in the Eskay Heart of Gold Camp…crews have completed soil geochemical sampling, ground-truthed historic data and evaluated mineralization potential on a property-wide basis…focus for drill targets was placed on those areas containing historic high-grade precious- and base-metal occurrences…Aben currently owns certain mineral tenures outright and has agreements in place with various third parties whereby it has the exclusive right to a 100% interest in the 230 sq. km area…
7. Dolly Varden Silver (DV, TSX-V) is holding steady after releasing results this morning from the first 4 holes of a 5,000-m drill program at its Dolly Varden Project near Stewart…the best result was 15 m (12.72 m true thickness) in the Lower zone grading 172.4 g/t Ag, 0.69% Pb and 0.81% Zn for a Silver equivalent of 244.4 g/t…DV will need more eye-popping numbers to create a stir in the market, but that’s certainly possible with this property…two-thirds of the drilling is allocated to resource validation and expansion while one-third is allocated to reconnaissance drilling on targets beyond the current NI-43–101 resource areas…there are over 50 exploration targets on the property…geological mapping plus geophysical and geochemical surveys are also underway for both the main Dolly Varden Ag-Pb-Zn Project, as well as the adjacent Big Bulk Cu-Au Project…
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Jon – any updates from anyone re BLO??? starting to leak badly!!!
Comment by Jeremy — July 26, 2017 @ 7:44 am
Jon do you still hold DBV? Rumor that drilling will start in August? Have you heard anything?
Comment by Sameer — July 26, 2017 @ 9:00 am
Very positive for the Venture with these companies all hitting new highs….
Comment by Gregh — July 26, 2017 @ 9:37 am
Hi Sameer, no I don’t, and I’m not sure what the plans are. Farshad needs to find a higher grade zone which is probably there somewhere but the trick is nailing it down.
Comment by Jon - BMR — July 26, 2017 @ 10:02 am
Did something happen with TUD Tudor Gold? 2 weeks ago it bottomed out at $.55 and since then it is steadily
rising to its current .$71 and looks to go higher. Bid is at $.72 and asking $.74.
Comment by Bishkek — July 26, 2017 @ 10:34 am
I like your number 5 above Jon. Next up for discovery is GGI. Ya right. I’m hearing 3 weeks before they start drilling. And you don’t know they have a discovery. about 800k shares for sale above does not think so either.
Comment by dave — July 26, 2017 @ 12:00 pm
According to stockta. new technical support on GTT is not .75, it is .54
Comment by dave — July 26, 2017 @ 12:17 pm
Well, Dave, stockta is out to lunch on GTT, unfortunately…good luck waiting for that number!
Comment by Jon - BMR — July 26, 2017 @ 2:35 pm
Jon, any comments on Dave’s assessment on GGI? Why so late getting to the drilling party?
Comment by Phil — July 26, 2017 @ 2:39 pm
Yes, Phil, a fake news agenda…about as accurate as the TA call on GTT. I love it when those kind of comments are made, and you’ll understand why soon enough.
Comment by Jon - BMR — July 26, 2017 @ 2:40 pm
What’s up with GGI? They put out a NR stating drilling second half of July. Then somebody post on another board saying they called IR and was told drilling not for another 3 weeks. Jon, can you find out for your subscribers the truth? No wonder trust is an issue with Regoci.
Comment by Dan1 — July 26, 2017 @ 5:52 pm
GGI. IF drilling is imminent, why would you not milk it a bit and say, ah, crews are building pads for a start date of ? why drill secretly when you need a mkt push to eat those shrs, that no one seems to know where they come from? someone needs to channel pezim !
Comment by david — July 26, 2017 @ 6:57 pm
And you have to wonder if the person/s putting up the big ask is in the know?
Comment by Dan1 — July 26, 2017 @ 7:06 pm
Jon, you may be shocked if there is a delay in drilling but it wouldn’t shock me or others given Regoci’s history the past year or two.
Comment by Dan1 — July 26, 2017 @ 7:11 pm
Dan1, BMR received a complaint from MarketSmart this afternoon (GGI’s official IR), expressing concern over a comment that was posted on this board (and remains up for the record) from someone who claimed the IR person they spoke to stated that GGI would not be drilling for another 3 weeks. MarketSmart vehemently denies any such remark was made by their IR person.
You can decide whether you wish to believe the poster, or MarketSmart. As for me, I’ve been around these markets long enough to know that too often there have been instances when conversations have been twisted or misrepresented on a board, either accidentally or deliberately.
Now, if you want to believe that GGI won’t be drilling until the last half of August, and if you want to believe that these strong conductors at Nickel Mountain are someone’s crazy imagination, and if you want to believe that all this talk about a major new Nickel-Copper discovery in the works is a bunch of baloney, and you still hold GGI shares, then feel free to blow them out the door at market open tomorrow. I’d be happy to add them to my collection.
And by the way, Dan1, those amateur games being played by CIBC on the offer side – those have been going on for many weeks now. I believe I know who it is, and their knowledge of the E&L is virtually nil. In the market, foolish sellers are just as common as foolish buyers. Don’t fear that offer.
What a world we live in.
Comment by Jon - BMR — July 26, 2017 @ 7:21 pm
Thanks Jon, feel free to delete my last post – you won’t be getting my shares – lol
Comment by Dan1 — July 26, 2017 @ 7:31 pm
Dan1. If someone claims they called the company and spoke to IR or some individual one can never assume that they indeed actually contacted the company. If I read something that disturbs me, I call the company to confirm. I view all comments with an appropriate amount of scepticism and always try to focus on the big picture instead. In this case with GGI for example it isn’t as if they are not going to drill. They are going to drill. Whether sooner or later, the fact they are going to conduct a drilling campaign is what matters. Ignore the short term noise and always look at the big picture.
Comment by John — July 26, 2017 @ 7:36 pm
Just thankful BMR was able to get to the bottom of it and clarify. Kudos Jon!
Comment by Dan1 — July 26, 2017 @ 7:43 pm
GGI. There’s almost a million that you can pick up in the AM likely Jon. Much appreciated!
Comment by david — July 26, 2017 @ 7:46 pm
Yes, well said jon.
Comment by Laddy — July 26, 2017 @ 8:08 pm
Bring it on, David…
Comment by Jon - BMR — July 26, 2017 @ 8:55 pm
Here, Here Jon. Well stated. Enough said.
Comment by Foz1971 — July 27, 2017 @ 5:26 am