Gold has powered higher this morning on a weak U.S. jobs report…as of 8:45 am Pacific, the yellow metal is up $49 an ounce at $1,875…Silver is up $1.51 to $43.01, Copper is off 3 pennies at $4.12, Crude Oil has declined $2.60 a barrel to $86.33 while the U.S. Dollar Index is up slightly at 74.65…the U.S. economy created no jobs and the unemployment rate held at a stubbornly high 9.1% in August, fueling concerns that the country is heading for another recession…most economists had been expecting the report to show a net of 75,000 jobs created, still an unusually low number in a recovery phase…in a way it’s surprising there was not a net loss of jobs for the month…payrolls have actually declined the last four times the stock market has dropped by 10% in the four weeks preceding the release of the non-farm jobs report, a trend that dates back to 1997…going back to the 1960’s, the unemployment report has shown a loss of jobs 9 times out of 13 when the monthly report has been preceded by a significant 4-week market drop…today’s weak jobs report puts pressure on the Fed to act later this month (sure thing now we believe which is driving Gold higher) while the market’s focus will also be on a jobs-focused speech to Congress by President Obama next Thursday…unfortunately, Obama has never demonstrated a real understanding or appreciation of wealth creation or the proper kind of fiscal and regulatory environment a government needs to create in order to allow the private sector to do what it does best – generate jobs and wealth…whether he can morph into a Ronald Reagan within a week is highly questionable…the Obama Presidency is quickly turning into a disaster…the August report from the University of Michigan/Reuters Consumer Sentiment Survey captured what is wrong in America right now…asked for examples of recent news that explained most people’s pessimistic view of the U.S. economy, 25% provided spontaneous negative responses about government, a record in the 50-year history of the survey, exceeding the last record which occurred in 2010 when the health care act was passed…when asked to rate the Administration’s economic policies, 57% gave the Administration a negative rating, a record high, exceeding the worst ratings given to any past President…only 5% had a positive view of Administration policies…
The Dow is showing triple-digit losses today but the TSX and CDNX are faring better, thanks in part to the sharp rise in Gold prices…the CDNX is flat at 1811 while the TSX Gold Index is up 12 points to 434 as of 8:45 am Pacific…it’s closing in on an all-time high…we’ve stated this before – investors really need to have exposure to the producers right now in addition to the best quality juniors with strong cash positions and advanced projects…two of our favorites among the producers continue to surge higher…Richmont Mines (RIC, TSX) is currently up 7 cents to $10.84 (it got as high as $11.35 this morning) while New Gold Inc. (NGD, TSX) has gained 11 cents to $13.24…for leverage, we suggest investors take a look at the Kinross “D” warrants (K.WT.D, TSX) which are trading around $3.20 this morning…Kinross‘ production profile is looking very strong…we envision a wave of mergers, takeovers and property acquisitions in the months ahead in this industry and that is positive for the most successful and aggressive exploration companies…Gold Canyon Resources (GCU, TSX-V) is just one of those…it appears their Springpole Project 100 kilometres northeast of the Red Lake Mining Camp holds at least five million ounces of Gold – that’s the view of Fraser Mackenzie’s mining analyst…GCU came out with fresh results the other day that included 286 metres grading 1.03 g/t Au, confirming the northeast dip of the Portage Zone…we haven’t updated the GCU chart for a while now, so below is John’s analysis with GCU up another 8 pennies this morning to $3.14…
We’re expecting a big month for Visible Gold Mines (VGD, TSX-V) which has been as high as 37.5 cents today on the CDNX…it’s currently off half a penny at 36 cents…we’ve never seen VGD trade as many shares on the Frankfurt Exchange as it did today – volume was nearly 150,000 on Frankfurt as it gained a penny…VGD’s average daily volume on Frankfurt is about 20,000 shares…if European investors are starting to step in on this play, watch out…developments with Richmont’s Wasamac deposit (7.28 g/t Au over 31.4 metres of true width in the Main Zone as announced Tuesday by RIC) are not only bullish for VGD, which is the most active company in the area, but they also convince us that Cadillac Mining’s (CQX, TSX-V) strategic claims adjoining part of the northern boundary of the deposit are going to come into play sooner rather than later…Cadillac is poised to win as the principal structure hosting the Wasamac deposit dips northerly toward their 100% owned 7 strategic Wasa claims…very limited exploration on those claims has yielded encouraging results and there appears to be two separate geological environments – Gold and VMS…Cadillac’s best strategy in our view is to joint-venture the property with a company that can dedicate considerable resources to it…at 14.5 cents, CQX’s market cap is only $3.7 million…they are short on cash at the moment but CQX has a highly attractive share structure and a great property at Wasa that they can leverage to their advantage…we’re expecting news soon out of Adventure Gold (AGE, TSX-V) regarding both its Pascalis-Colombiere Gold Property and the Dubuisson venture with Agnico-Eagle (AEM, TSX)…we’re particularly bullish on Pascalis as results have been impressive so far and a 43-101 resource estimate is in progress…on the Yukon front, Kaminak Gold is up another 3 pennies to $4.40…Golden Predator (GPD, TSX) is trading just above its rising 50 and 100-day moving averages at $1.14 (up 2 cents)…Pacific Ridge Exploration (PEX, TSX-V) is trading at a strong support area as well, 48 cents…it’s an extremely quiet news day of course, due to the upcoming long weekend, but we expect a flurry of company news releases next week and a tsunami of exploration results through the balance of September which potentially could give some real spark to the CDNX – especially with Gold acting as it is…
BER is jumping again… in the twenties now …. my sixth sense works… the huge sell lot may be gone in seconds….
Comment by Theodore — September 2, 2011 @ 8:00 am
is BMR still feeling that the price of gold will test support at 1621 in the next 2 months?
Comment by marc — September 2, 2011 @ 8:01 am
Marc
As we have seen recently Gold is very volatile which means it can move to O/B and O/S very quickly. If Gold breaks below the top of the sloping channel there is a strong technical possibility it may go down to support. We have to wait to see how this plays out.
Comment by John - BMR — September 2, 2011 @ 8:09 am
GDX breaking out. Up 29% on 3.4 ml shares so far. Somebody likes whats happening here. Looks like we are heading into a major bull run with a bunch of these exciting and volatile shares. CUI should be next imho.
Comment by Patrick — September 2, 2011 @ 8:31 am
GDX is very active. 5.5M shares so far. Can some one or BMR up date?
Comment by Eric Benson — September 2, 2011 @ 10:02 am
yes theo,
your 6th sense worked on BER today…………..maybe you can give GBB bump up eh?
Comment by alec — September 2, 2011 @ 10:26 am
Alec, I am working on GBB…. my sixth sense, it will go to the 40s…. very very soon…. . I will have my further update on BER and my other favorites later tonight….. stay tuned
Comment by Theodore — September 2, 2011 @ 11:37 am
Theodore, how old are you? Because you sound like a child when you talk about a sixth sense. We come here for Jon and John’s opinion. You know, people with actual informative things to say? Nobody here even remotely gives a crap about whatever worthless insights you may have or whatever short-term trades you make. So pack your bag and never come back.
Comment by Tim — September 2, 2011 @ 12:52 pm
GBB will climb back to mid 40s very soon and my sixth sense is coming back to this one… My buy low / sell high concept of this one is now 36 cents / 45 cents. Currently closed at 37.5 cents is close to buy price…. BER, another fantastic play today with high 24.5 cents just 0.5 cent below my sell high price. Anyways, I sold all today in the 20s…. not bad. My next buy low/ sell high price of this one is now 18.5 cents / 29 cents… Hopefully, I can put back to my portfolio soon… GA , a small trading volume today… someone bought 1000 shares before end of day pumping up 1 cent… this one my sell high price 7 cents. TYP closed at 93 cents, up 3 cents and it is close to my sell high price 95 cents. NAR – no trading as my buy low price is 15 cents and I am still waiting for it… no rush. MTU closed at 42.5 cents and my buy low price is 39 cents…. waiting for the chance… SD … did not go to 2 cents … will not consider for the moment but the news should be coming anytime. CQX closed at 14.5 cents in light trading .. VGD closed at 35.5 cents and I will scoop some at 34 cents…. if no chance, it will go to 40 cents soon. BER will remain a star in September…. only started two days with 40% price up… this one has lots of potential to go further…. scoop it when the chances come…. it will not stay at this price long as the next wave will come…. a bigger one.
Comment by Theodore — September 2, 2011 @ 6:02 pm
Well-done Theodore, I think your six sense works very well. You should join BMR team.
Comment by Eric Benson — September 3, 2011 @ 8:27 am
BMR
I don’t think VGD is going to be unnoticed too much longer, CEO is going on the Jay Taylor show Tuesday Sept 6 2011 at 4:30 eastern, CEO sure seems very confident in the email I recieved this morning announcing the show.
Comment by GREG H — September 3, 2011 @ 11:04 am
GREG H
As i was reading your post, my email indicator sounded & there was the CEO of VGD.
Quote
Dear Shareholders and Investors:
The success of any company is dependent upon the quality of its people. From our geologists to our investor relations team, I’m convinced we have an “all-star” group that is enabling us to rapidly emerge as a leader in the vibrant Quebec mining and exploration sector. I will be expanding on this point this coming Tuesday, September 6, when I’m interviewed live on Jay Taylor’s show (“Turning Hard Times Into Good Times”) beginning at 4:30 pm eastern time on the Voice of America. Below is a link to this popular show – Jay has many followers and we’re very excited that the Visible Gold Mines story is going to reach a new and wide audience.
Visible Gold Mines (TSX.V: VGD and 3VR on the Frankfurt Exchange) is one of the most active explorat ion companies in northwest Quebec and we look forward to reporting on the progress of our two flagship projects – Lucky Break and Joutel – in the very near future. Richmont Mines continues to deliver excellent results from its growing Wasamac deposit west of Rouyn-Noranda, underlining the importance of this previously under-explored area and the potential for new discoveries. With our Lucky Break Project, which includes the Wasa Creek and Wasa East Properties, we are the most aggressive exploration company in the Wasamac area with a highly prospective land package to explore.
Drilling is starting soon at Joutel where we have partnered with Agnico-Eagle Mines in an effort to reactivate this former mining camp. Five past producing mines (three gold and two copper) are within the immediate vicinity of where our geological team has planned a Phase 1, 7,500-metre drill program.
I wish you an enjoyable and relaxing Labour Day Weekend, and don’t forget to tune in Tuesday afternoon at 4:30 pm eastern as I speak with Jay Taylor.
VOICE OF AMERICA LINK FOR JAY TAYLOR SHOW
Regards,
Martin Dallaire
President and CEO
Visible Gold Mines
p.s. Tuesday, Sept. 6, 4:30 pm eastern – the VGD story with Jay Taylor.
Comment by Bert — September 3, 2011 @ 11:16 am
Greg H
Was just reading your comment when my email sounded & there he was, the Pres/Ceo of VGD.
Quote
Dear Shareholders and Investors:
The success of any company is dependent upon the quality of its people. From our geologists to our investor relations team, I’m convinced we have an “all-star” group that is enabling us to rapidly emerge as a leader in the vibrant Quebec mining and exploration sector. I will be expanding on this point this coming Tuesday, September 6, when I’m interviewed live on Jay Taylor’s show (“Turning Hard Times Into Good Times”) beginning at 4:30 pm eastern time on the Voice of America. Below is a link to this popular show – Jay has many followers and we’re very excited that the Visible Gold Mines story is going to reach a new and wide audience.
Visible Gold Mines (TSX.V: VGD and 3VR on the Frankfurt Exchange) is one of the most active explorat ion companies in northwest Quebec and we look forward to reporting on the progress of our two flagship projects – Lucky Break and Joutel – in the very near future. Richmont Mines continues to deliver excellent results from its growing Wasamac deposit west of Rouyn-Noranda, underlining the importance of this previously under-explored area and the potential for new discoveries. With our Lucky Break Project, which includes the Wasa Creek and Wasa East Properties, we are the most aggressive exploration company in the Wasamac area with a highly prospective land package to explore.
Drilling is starting soon at Joutel where we have partnered with Agnico-Eagle Mines in an effort to reactivate this former mining camp. Five past producing mines (three gold and two copper) are within the immediate vicinity of where our geological team has planned a Phase 1, 7,500-metre drill program.
I wish you an enjoyable and relaxing Labour Day Weekend, and don’t forget to tune in Tuesday afternoon at 4:30 pm eastern as I speak with Jay Taylor.
VOICE OF AMERICA LINK FOR JAY TAYLOR SHOW
voiceamerica.com/show/1501
Regards,
Martin Dallaire
President and CEO
Visible Gold Mines
VisibleGoldMines.com
p.s. Tuesday, Sept. 6, 4:30 pm eastern – the VGD story with Jay Taylor.
Comment by Bert — September 3, 2011 @ 11:47 am
Test
Comment by Bert — September 3, 2011 @ 12:12 pm
Theo,
What do yo think about kok-t?
Martin
Comment by Martin — September 3, 2011 @ 12:22 pm
Forgot to say, Thanks Theodore, best of luck 😉
Comment by Martin — September 3, 2011 @ 12:29 pm
Interesting, I get beaten to an interview again…oh well. What I like is that this is a really aggressive company in every way – they’re drilling like crazy and the CEO is sending out a message to shareholders on a long weekend, and going on Voice of America with a respected analyst. You gotta like it.
Comment by Jon - BMR — September 3, 2011 @ 1:24 pm
Martin, KOK it has gone up by 50% recently and in my opinion, another 20% max rise is achievable. Personally, I do not recommend to hold it for long… once it hit 31..32 cents… I will sell it and may not buy back again using my buy low/ sell high principle. Think of buying BER at 18.5 – 19 cents level, I am thinking that you can get better returns. In my opinion, this stock is under value and some people are collecting… it will go to the thirties…. soon but not in one shot, of course. A 30% jump in each interval seems to be the track of this stock for the next 2-3 months… Some people think I ask people to buy and then I sell… I do not have the power to move this stock up… some people can … even they read my comments… this will not change their mind in collecting this stock. Bearing in mind, I do not have any insider information about any of the junior stocks. I read every comments and analysis in this site… I determine my buy/sell principle with my sixth sense…. . SD is one I lost 30% and I do not like their failure in providing the financial statement… .
Comment by Theodore — September 3, 2011 @ 2:16 pm
Jon
I copied & pasted an email i received, regarding VGD’s CEO appearing on the Jay Taylor show. I tried
to post in on the board twice, under comments # 11 & 12 & noticed it only showed up temporarily. I
then forwarded a test message which is there. It appears my comments 11 & 12 were removed, if so,
is there a reason for that please ? R !
Comment by Bert — September 3, 2011 @ 3:48 pm
1, 2, 3, 4, 5.
Comment by Bert — September 3, 2011 @ 3:52 pm
Hi Bert, sorry….the system seems to have a mind of its own sometimes, for some reason it didn’t automatically approve your post – I don’t know why. Our apologies. Fixed.
Comment by BMR — September 3, 2011 @ 4:14 pm
Theo, keep up the good work. Don’t care about what others say because you are making more money than the people who bash you.
Comment by Bruce — September 3, 2011 @ 4:49 pm
BMR
Now i know what it’s like to feel i may have done something wrong. No need to apologize,
all’s well that ends well. Thanks ! R !
Comment by Bert — September 3, 2011 @ 5:30 pm
Hey Bert
fyi
I can see all of your posts, keep posting and keep holding, the day is coming soon that you will be glad you did.
Comment by GREG H — September 3, 2011 @ 8:48 pm
To elaborate a little further on my negative view of VGD last week. I’ve been through the
stock wars, in particular in 2008. At that time, i vowed that if i can prevent it, i will
never ever allow a stock to move below my cost. My average on VGD is 0.32 & after seeing
it going to 0.40, i was very disappointed to see it move back down to a bid of 0.345. My
mental stop was 0.34, at least, i would profit & any profit is better than a loss. When a
stock starts the day off in a negative manner & continues to move down, my first thought
is the upcoming news may not be good enough to move the market & anonymous the seller, could
be aware of that. Foolish thoughts maybe, but a lowly investor like me, don’t have much to
go on except my gut & BMR, who show much optimism but maybe are not in a position to be
specific. Today, i am pleased to state that i feel more optimistic, in particular, knowing
the President/CEO is willing to get out there & tell his story. The daily chart needs
something like that to give it a more positive look.
I notice DVV closed at 0.225 on low volume. My average is 0.18, the price when it was
mentioned to you all. I could go on & on about this stock, but i am not sure how far i
can go on a site belonging to someone else, so i will leave it at that, except to state i
feel it will be a mover…. R !
Comment by Bert — September 4, 2011 @ 3:50 am
Bert, you have to understand that the move to .395 on VGD and then a minor reaction back to support in the mid-30’s was a perfectly normal technical event, and John will illustrate this in a chart he’s working on this weekend for posting tomorrow or Tuesday morning. The chart will give you plenty of joy, I’m sure, for it shows a near-term Fib. level of 51 cents. John has been very accurate with his Fibonacci analysis. Always pay close attention to support and resistance levels, and guide your trading accordingly. VGD is currently trading at support which is why I added to my position on the pullback down to .345. This is why technical analysis is so important. From a fundamental standpoint, I’m convinced VGD will have more good news coming out of Wasa Creek—-when you hit mineralized structures on your very first hole, in a previously unexplored area, what does that tell you? I’ll be shocked if they don’t come up with an even better hole (or holes), and perhaps a dandy one. That first hole gave them a trail of mineralization and important clues to follow. Great scenario.
Comment by Jon - BMR — September 4, 2011 @ 8:12 am