Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,315 and $1,325 so far today after almost touching the top of key support at $1,300 yesterday…as of 7:00 am Pacific, bullion has added $6 an ounce to $1,323…Silver is up slightly at $16.48…Copper is off a penny at $3.11…Nickel is down 4 cents at $6.07 while Zinc is also off slightly at $1.54…Cobalt is up 11 cents to $36.85…Crude Oil has slipped 37 cents to $60.62 while the U.S. Dollar Index has backed off sharply from an overnight high near 91 and is now unchanged for the day at 90.24…newly-appointed Fed Chairman Jerome Powell spoke again yesterday to the Senate Committee on Banking about monetary policy and the state of the U.S. economy…he said there were currently no “decisive” signs of wage inflation…
2. Canopy Growth (WEED, TSX) CEO Bruce Linton told a meeting of the Economic Club of Canada in Toronto yesterday that the company is considering listing on the NASDAQ…no timeline for the potential listing was given, but Linton suggested that plans were already underway. “We prepared to list in October and we pulled it back, because trying to do the deal with Constellation was already 11 months of complexity,” said Linton, referring to the $245-million investment in Canopy made by U.S. alcohol company Constellation Brands. “The step will be list – and get ready for the drum roll – there will be a $75-million U.S. placement-ish. And it’s just because the economic model works for the people who took you public and give you coverage to get a listing out there. I think Nasdaq is doing a great job because they’re not allowing people to list who break (U.S.) federal laws, and so I think it’s a place we should list in due course, because we like to follow all the rules.” Linton’s comments come after competitor Cronos Group (MJN, TSX-V; CRON, NASDAQ) became the first Canadian cannabis company to list on the NASDAQ earlier this week…American investors have embraced Cronos with the stock trading 25 million shares in its first 3 sessions through yesterday…
3. Mainstream media are hyperventilating again (“Trump Chaos Goes Global”, proclaims CNN) after President Trump told a gathering of U.S. industry executives yesterday that he would impose tariffs of 25% on steel and 10% on aluminum, without providing specifics…this President is a businessman, not a politician, something the media and others are struggling to adjust to, so he has different ways of negotiating and presenting policy options on wide-ranging issues…he said the official announcement and full details on steel and aluminum tariffs will come next week, so markets reacted yesterday (and again this morning) to a lot of unknowns and media hysteria. “Our Steel and Aluminum industries (and many others) have been decimated by decades of unfair trade and bad policy with countries from around the world,” Trump said on Twitter yesterday morning (he’s correct about that, but only in terms of certain countries with China being the chief culprit as far as steel is concerned). “We must not let our country, companies and workers be taken advantage of any longer. We want free, fair and SMART TRADE!” Canadian and Brazilian steel comprise 16.7% and 13.2 % of U.S. steel imports (followed by South Korea, Mexico, Russia, Turkey, Japan, Germany, Taiwan and China)…the top 4 exporters of aluminum to the U.S. are Canada, Russia, United Arab Emirates and China…Trump has options and would be wise to choose a more targeted approach rather than an across-the-board tariff structure that could easily morph into the equivalent of a job-killing tax hike and create unnecessary rifts with key allies…one thing’s for sure – there are factions within the White House on opposite sides of this issue, from Gary Cohn (Trump’s top economic adviser who doesn’t support tariffs) to trade hawk Peter Navarro whose role in the White House has been elevated after the recent departure of Rob Porter who became a target of the #MeToo movement…
4. The Globe and Mail reports in its Saturday, March 3, edition that a survey by the Human Resources Professional Association found that 71 per cent of HR professionals believe their workplaces are not prepared to deal with the coming legalization of recreational weed, including issues related to impairment, usage on the premises and safety. The Globe’s guest columnist Joel Kranc writes that criminalization will no longer be an appropriate objection. Currently, it is not okay for employees to show up to work drunk and the same is true of them showing up high. Aird & Berlis lawyer Lorenzo Lisi says that legalization does not undermine an employer’s ability to make rules or policies that prohibit use on company property. The issue, Mr. Lisi adds, is whether impairment can be demonstrated in the same ways as someone who is under the influence of alcohol. This remains a serious debate for employers as drug impairment can be more difficult to ascertain and tests have not reached the levels of accuracy that occur with alcohol testing. Mr. Lisi says employers’ policies going forward have to be consistent in their approach to alcohol and drugs on company property.
5. The Dow has lost 1,100 points the last 3 sessions and is off another 302 points through the first 30 minutes today as volatility continues… in Toronto, the TSX has fallen 59 points as of 7:00 am Pacific while the Venture has retreated 4 points to 825…Cornerstone Metals (CCC, TSX-V), which on Wednesday released strong initial drill results from its Vanadium Project in Nevada, is getting some additional backing…the company has announced a private placement to raise up to $1.5 million at 30 cents per unit (each unit will include a 2-year half warrant at 45 cents)…Mawson Resources (MAW, TSX) was halted pre-market this morning and then released first drill results from its 2018 program (3 rigs in action around the clock) at its Rajapalot Gold Project in Finland, highlighted by an impressive 31.7 m @ 8.4 g/t Au from 244.1 m, including 10.9 m at 21 g/t Au…Michael Hudson, President and CEO, declared: “This is a great start to our winter campaign, delivering the best hole drilled at Rajapalot to date. The grade x thickness interval in drill hole PAL00093 puts Rajapalot in a league with some the best exploration projects discovered globally over the past 6 months”…Goldcorp (G, TSX) recently invested $8.1 million in MAW at 45 cents per unit…more results this morning from The World’s Biggest Drill Program (800,000 m)…Osisko Mining (OSK, TSX), trading at its lowest price since early 2017, has cut 265 g/t Au over 2.4 m, 191 g/t Au over 2.6 m, 198 g/t Au over 2.3 m, and 116 g/t Au over 2.1 m in 4 separate holes at Windfall Lake in Quebec (true widths estimated at 65% to 80%)…Cobalt 27 (KBLT, TSX-V) is raising another $130 million, issuing 11.4 million shares at $11.40 to a group of “strategic investors”…net proceeds will be used, in part, to finance the acquisition of Cobalt-related streams and royalties. “At a time when we see the acceleration of the adoption of the electric vehicle and tremendous opportunity to capitalize on the structural changes underway in the energy and automobile industries, the proceeds of this private placement will strengthen Cobalt 27’s balance sheet and liquidity, and better positions us to execute the many opportunities currently available to the company,” stated Anthony Milewski, Chairman of Cobalt 27…InMed Pharmaceuticals (IN, CSE) has firmed up nicely on news that it has received conditional approval to list on the TSX…Eric Adams, President & CEO, stated: “Graduating to the TSX is a significant accomplishment for InMed. This milestone furthers our corporate goal of securing a leadership position in this high-growth sector. InMed is one of only a few pure-play cannabinoid biopharmaceutical companies to be trading on one of the world’s senior stock exchanges”…another strong week for Pascal Biosciences (PAS, TSX-V), though it’s off 3 pennies at 53 cents in early trading…on February 21 Pascal announced that it has discovered certain cannabinoids that enhance the immunogenicity of tumour cells, rendering them more susceptible to recognition by the immune system…
6.
Atlantic Gold Corp. has declared commercial production at the Moose River Consolidated (MRC) gold mine, Nova Scotia, Canada. The effective date of commercial production is March 1, 2018.
The Company has been ramping up production since late 2017 and has been working through the normal bottle necks in the processing facility since commissioning. In January, the Company experienced 3 days of power outage due to Atlantic storms which resulted in 5 days of production losses. In addition, January had the equivalent of a +100 year event in terms of precipitation which resulted in challenges in the materials handling part of the circuit with daily extreme variations in temperatures. We are working with our EPC contractor to make repairs and adjustments to the crushing circuit to better accommodate the conditions.
Notwithstanding this, the Company continues to target its full year guidance as stated on January 19, 2018; however Q1 2018 production is expected to be at, or below pro-rata the annualized production rate, as commercial production is only commencing from March 1 st 2018.
7. METALLIC MINERALS AND GROUP TEN METALS ANNOUNCE FORMATION OF THE METALLIC GROUP OF COMPANIES
Metallic Minerals Corp. and Group Ten Metals Inc. have formed the Metallic Group of Companies, a collaboration of two leading precious and base metals exploration companies with a portfolio of highly prospective assets in North America. By leveraging the combined decades of experience of its founders in mineral exploration, finance, capital markets, permitting and community relations, the Metallic Group sees an opportunity to maximize shareholder value for member companies. The Metallic Group also benefits by sharing resources for cost efficiency and providing access to specialized technical expertise and experienced corporate governance and management teams.
The Metallic Group currently comprises two member companies: Metallic Minerals Corp., focused on high-grade silver, gold, lead and zinc in Canada’s Yukon Territory; and Group Ten Metals Inc., focused on platinum group metals, gold, nickel, copper and cobalt in the Western USA and Canada. A copper-focused explorer is expected to be launched later in 2018.
Shared approaches to business for Metallic Group companies include:
- Exploration projects in politically stable districts with the potential to produce top-tier mining assets;
- Highly experienced management teams and boards with track records of exploration and project development success; and
- A core commitment to environmental stewardship and community engagement.
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“recent departure of Rob Porter who became a target of the #MeToo movement…” Maybe you didn’t mean that to sound like you support guys like Rob Porter (wife beater), but that sure sounds like you do? I don’t mean to get all political here, but guys, let’s focus on the meat and potatoes of the markets, not the rest of the BS going on in the Trump circus. Keep the facts coming, not the editorialism please? Other than that, thanks for the info.
Comment by Terry — March 2, 2018 @ 9:16 am
HI do you guys hold any PAS shares?
Comment by Shawn — March 2, 2018 @ 10:11 am
I do, Shawn…PAS is looking quite interesting.
Comment by Jon - BMR — March 2, 2018 @ 10:21 am
Any thoughts on ART.V (Arht Media)? Lots of talk about it on ceo.ca this morning.
It caught my eye because of the people on the advisory board — Paul Anka, Larry King, Jason Bateman, Kevin O’Leary, Brian Mulroney, Carlos Slim. But also 29M float and high insider ownership. The tech is quite interesting (realistic human holograms). Still doing DD on it.
Comment by adrobyshev — March 2, 2018 @ 10:41 am
Terry … agree with your comments. Like any government, the Trump government has it’s share of warts. Political commentary is fine as long as it relates to how it will affect the economy/investing. This forum should not be a soapbox for anyone’s political views.
Comment by Danny — March 2, 2018 @ 10:46 am
Terry
so I guess that you are guilty until proven innocent now? I never agree with any man putting his hands on a woman in any way that could harm her period. But I do believe in due process. The BS you mention in the Trump circus, would that be the circus with the lowest unemployment rate in 30-40 yrs, is that the tax break circus that is putting more money in the average American’s pocket? Is that the circus that is trying to make the United States of America the greatest Country in the world again. Trump is no choir boy for sure, but he does care about the US and doing what the Gov’t is supposed to do, protect our borders and enforce the laws that the citizens of the US voted for, unlike the Liberals that could care less about the country itself, all they care about is being in power and that has never been more evident than it is now. BMR keep the editorials coming, if we don’t like them we can always not read them or just not re new our subscriptions. Terry is just like the kids at the colleges today, if they don’t like your opinion they want to silence you, sorry Terry it doesn’t work that way in the U.S. We still have freedom of speech!
Comment by gregh — March 2, 2018 @ 10:52 am
I’m sorry, Terry, I hadn’t seen that Rob Porter was tried and convicted of anything.
Comment by Twaver — March 2, 2018 @ 12:01 pm
If tariffs are coming for any commodity it’s news I want to know about–keep it coming BMR.
Comment by AFchief — March 2, 2018 @ 12:43 pm
I’ve got to agree with Terry. There’s plenty of politics of all flavours on the rest of the internet, but here it dilutes the BMR brand, and distracts the focus from what you guys do so very well.
Comment by Gojira — March 2, 2018 @ 12:57 pm
Terry, I am not sure where you are from but I would gladly have Trump come run Canada and you can take that jack ass of a clown Trudeau. Then after one year we will see who’s country is better off! If Trudeau keeps doing what he is doing Canada is going to be like a third world country. But at least we will be a gender neutral country I guess so that’s all that matters…
Comment by Dwight — March 2, 2018 @ 1:05 pm
gregh… little snowflake getting triggered?
Comment by mike — March 2, 2018 @ 1:17 pm
Cobalt 27 investors may be backing the wrong horse for 11+ dollars per share. Why not pay 40 cents to buy Ccw shares , with existing mine infrastructure with cobalt gold and silver in the minibulk samples?
Comment by Donald — March 2, 2018 @ 1:23 pm
Definitely agree with you Terry. There’s a non-political way for saying how government decisions have a chance of impacting the market and the share prices of the stocks we choose to invest in. I’m not a fan of Trudeau or Trump, but BMR, please leave the “lowest common denominator” language for FOX news.
Comment by Raf — March 2, 2018 @ 1:32 pm
Jon:
Could BMR undertake some type of a priority system for the companies that are mentioned here. I’m focussed on the BMR suggestions solely of which there are many.One can only buy so many and I understand that we should do our own due diligence as well.Any way that BMR can help with a priority list.Kind of the list of companies under .20 which is great!
As always thanks!
Comment by GoldenFalcons — March 2, 2018 @ 1:37 pm
I’m hoping we have a #GGI-lives-matter movement or #CCW-me-too movement starts soon – like, the upward kind of movement. My portfolio account is hungry for more dollars.
Comment by BigBid — March 2, 2018 @ 1:38 pm
Well, BigBid, I’ve been loading up on both GGI/CCW and I am also known to be a very stable genius, so…
Comment by adrobyshev — March 2, 2018 @ 1:46 pm
Donald, exactly. Hopefully CCW promotes/markets this like crazy!
Comment by BigBid — March 2, 2018 @ 1:50 pm
Adrobyshev, you are a genius!
Comment by BigBid — March 2, 2018 @ 2:11 pm
My portfolio needs a blood transfusion…
Comment by Matt — March 2, 2018 @ 2:28 pm
How about we just have a Venture movement, an upward one to the moon…
Comment by gregh — March 2, 2018 @ 2:54 pm
Then IMHO Matt….buy more GGI and be patient…….simple
Comment by John - BMR — March 2, 2018 @ 4:47 pm
I recently moved job locations, so not as much time to keep track of my stocks (which admittedly need more babysitting this year than last). I’ve never been a fan of setting stop-losses either, so heck, I’ve got only myself to blame. To my credit, 50% of my portfolio is rebought shares in GGI, and at an average under 2 bucks to boot.
Comment by Matt — March 2, 2018 @ 7:25 pm
Terry,
Free markets can exist only under the rule of law. Movements like #MeToo make a mockery of the law that the accused have a right to defend themselves from accusations in a court of law and not to be presumed guilty in the court of social media. Reputations, careers and lives are permanently ruined with little opportunity for the accused to remedy the accusation accept to wait years to seek damages and a restoration of innocence in civil court. Too late. The damage is done. So what does this have to do with free markets?
Movements like #MeToo which ignore due process under the law are like a cancer that has the capability to spread and infect all areas of our law dependent democracies under which markets (like the stock market) thrive. #MeToo may not be a direct threat to the stockmarket but it is a threat to the rule of law which govern all our democratic institutions (free markets for example) and as such need to be vigorously examined and debated even on stock chat forums!
Subscriber John
Comment by John — March 2, 2018 @ 8:11 pm
Jon:
MTS released news about Thunder North and South I believe.
Any thoughts here?
We haven’t heard much and it’s been quiet.
Is it fair to suggest that there’s going to be a lot of activity with GGI and MTS this spring and summer?
Comment by GoldenFalcons — March 2, 2018 @ 8:50 pm
Selling AIS to buy GGI !! It hurts selling at this ridiculous price but you do what you godda do. GGI has a better chance of getting back losses incurred by buying AIS north of .65 ………. at least I got my son out just over $1.40 and he is very thankful, while I got caught up in the hype !! GGI should be moving northward, unless of course the Shorts decide to ruin the party ……. which I’m sure they will try and do until some new results are posted, and that won’t be for a while, so everyone who holds GGI shares, make sure you put them up for sale everyday. Make them unavailable for trade !!! Farmer T
Comment by farmer — March 3, 2018 @ 12:22 am
All looks good on the MTS front, GoldenFalcons…to date they’ve just scratched the surface of Thunder North and Thunder South and other potential areas of Kirkham for Nickel sulphides – hard to imagine there isn’t something of significance there given the fact they’re in an ideal geologic setting along the western flank of the Eskay Rift…will be a really exciting spring/summer for MTS as the hunt intensifies…
Comment by Jon - BMR — March 3, 2018 @ 5:18 am
Interesting what you say about putting your shares for sale farmer T then the shorts wont be able to use them, I haven’t thought about that. So you can put them for sale at any price like $20 and they’re off limit to the shorters? Does everyone else here do that? It sure looks like there is people that are trying to keep GGI down, everytime it wants to go up it’s sold down. We’re lucky to have Eric with us for sure. But at some point truth will prevail, you can’t keep a good horse down.
Comment by jasi — March 3, 2018 @ 7:05 am
Hey Jon, any thoughts on Balmoral Resources? Their MC seems to be quite low compared to having 238 million pounds of nickel based on their 43-101…thanks.
Comment by BigBid — March 3, 2018 @ 8:06 am
Hi Jon,
Maybe you can help me with this;
I received my CCW shares (in my account) coming from GGM…I understood that each of these shares went with a full warrant and I wonder how to exercice the warrants ?
Thank you in advance
Comment by Sylvain — March 3, 2018 @ 1:43 pm
Yo Jasi …… not $20.00 That would be too high ( unacceptable ) especially by TD !!! I’m with CIBC ( Invester’s Edge ) and while I can enter a Sell at $5.01 my sister who’s with TD can’t do it ….. hmmnnnnn, I wonder why ?? Hmmmmnnnn. Nuff said but anyhow put them in at least $3.51 and remember, make them Day Orders ……. Farmer T
Comment by farmer — March 3, 2018 @ 2:55 pm
Hey BMR crew, have you been following Doubleview Capital, if so have you heard any rumors as to a possible JV in the works?
Comment by Art — March 3, 2018 @ 5:03 pm
Scotia doesn’t seems to have any problem taking my $5, $10 and $20 orders.
Thanks Farmer T
4
Comment by jasi — March 3, 2018 @ 7:04 pm
Yes, since 2014, Art…
Comment by Jon - BMR — March 4, 2018 @ 4:40 am
Thanks Jon, re DBV, guess you have representation at PDAC. Hopefully someone will have a chance to see Frashad and update their situation after the convention. Also assuming you guys will have a chance to see the GGI team. As usual, no doubt your team is all business there. Actually my getting involved with both plays was at a previous PDAC, a great place to get some inside track on things, all the best!!
Comment by Art — March 4, 2018 @ 3:49 pm
Re DBV, I am still a long with them and have faith they can get this stock moving again. What’s your thoughts? Regardless, my knowledge of GGI was a result of buying into DBV, long GGI.
I’m sure it’s bad timing popping questions out there for you at this time, since i’m sure you’re flat out for the duration of PDAC.
Alway a big thanks for trying to please all of us.
Comment by Art — March 4, 2018 @ 4:07 pm