Gold has traded between $1,157 and $1,166 so far today…as of 10:50 am Pacific, bullion is off $1 an ounce at $1,158…Silver is 12 cents higher at $15.50…Copper is off 3 pennies at $2.50…Crude Oil is 28 cents lower at $52.50 while the U.S. Dollar Index has fallen one-third of a point to 96.03…
“Bullion has been trading in lockstep with the euro despite the yellow metal’s appeal as a safe-haven asset,” stated a research note from HSBC metals analyst Jim Steel. “Consequently, a rally in the euro vs. U.S. dollar under the ‘no Grexit’ scenario may provide support for Gold, in our view.”
Copper is on track for a 3.5% weekly fall but has managed to bounce off a critical long-term uptrend support line…commodities have been under pressure this week as concerns about the health of China’s economy have intensified…
Crude Oil Update
Worries about oversupply and slowing demand offset support from a rebound in Chinese stock prices and hopes of a breakthrough in the Greek debt crisis…the International Energy Agency (IEA) said today that Oil prices are set to come under further pressure from easing global demand and an expanding glut of crude, while a re-balancing of the Oil markets may last well into next year…
Critical technical support for WTIC is $52…
Canadian Dollar Updated Chart
The situation with Crude Oil and commodities in general continues to put pressure on the Canadian dollar which has now hit key support, as we anticipated it would, at the 78.5 cent level…
Where to from here?…
The Canadian dollar likely still has further to go on the downside (the 70-cent area seems very possible) given its current technical posture in addition to fundamental factors…any further slump in Crude Oil, which could easily occur, would be a major factor influencing fresh weakness in the loonie…
What’s interesting about this chart is not only the loonie’s critical support around 78.5 cents, but how Gold (in U.S. dollars) has significantly outperformed the currency over the last few years, particularly since the beginning of 2014…in Canadian dollar terms, Gold continues to do very well (over $1,400 CDN) and that’s clearly bullish for Canadian Gold producers…lower Oil prices from here would also be positive for these producers…
Claude Resources Inc. (CRJ, TSX) Update
Speaking of Canadian Gold producers, a quality one worthy of our readers’ due diligence, as we’ve mentioned before, is Claude Resources (CRJ, TSX) which earlier this week reported record-breaking 1st half production of 41,686 ounces from its operations in northeastern Saskatchewan…this has resulted in the company increasing its Gold production guidance to 68,000 to 72,000 ounces in 2015 from its original guidance of 60,000 to 65,000 ounces…over the last 4 quarters, the company has produced 74,584 ounces of Gold…the strong production performance and grades are a result of increased contribution from the higher-grade Santoy Gap deposit and from the implementation of the Alimak mining method at the Seabee mine…Q2 financial results will be reported in mid-August…
CRJ reported 1st quarter net profit of $5.1-million, or 3 cents per share, a $10.2 million improvement from the same period last year…this was due to improvements in Gold production, sales volumes, ore grades and operational efficiencies…
Technically, CRJ continues to hug an uptrend support line..a bullish “W” has also formed in the RSI(14) which has been trending higher since mid-2013…recently temporarily overbought conditions in the RSI(14), which emerged during the stock’s move to Fib. resistance at 80 cents, have been cleansed…
CRJ is off 2 pennies at 67 cents as of 10:50 am Pacific…
Today’s Markets
Asia
China’s Shanghai Composite jumped another 170 points overnight to close at 3879 following a flurry of fresh regulatory support from Beijing…Japan’s Nikkei average was off slightly…
Europe
European markets were up sharply again today after investors took heart from a rebound in China and reforms proposed by Greece to its creditors…Greece is asking for 53.5 billion euros as part of a new bailout package…the Greek parliament will vote on the measures today…euro zone finance ministers will have their say tomorrow…for now, at least, it appears the likelihood of a Grexit has diminished significantly…
North America
The Dow has surged 184 points as of 10:50 am Pacific…Apple Inc. (AAPL, NYSE and NASDAQ) has jumped nearly 3%, reversing yesterday’s 2% drop that took the stock close to its rising 200-day moving average (SMA)…China has provided over half of Apple’s recent growth in revenue according to a report from UBS yesterday…according to Factset, the country makes up 16.2% of Apple’s total revenue…the success of the iPhone 6 has been driven largely in part by China…
In Toronto, the TSX is up 96 points while the Venture has added 4 points to 641 as of 10:50 am Pacific…
Doubleview Capital Corp. (DBV, TSX-V) Update
An eventful week, to say the least, for Doubleview Capital (DBV, TSX-V) which had to endure an illegal Tahltan blockade at the Hat Property in the Sheslay district – a Tahltan blockade against not only DBV, but Tahltan as well given that Tahltan Drilling was doing the work on holes H-24 and H-25…3 of the 4 men working the rig were Tahltan, BMR has confirmed…interestingly, as DBV reported Wednesday, the blockade started while hole H-25 was in a zone of Gold-Copper porphyry mineralization at a depth of 270 meters in the A-2 area, a whopping 1 km step-out northwest of the Lisle Discovery Zone…we’ll have more on the potential geological significance of that by Monday…
Meanwhile, we were able to reach DBV President and CEO Farshad Shirvani last night at the Hat Property and he offered these comments:
“We clearly stated our position in our news that was issued yesterday. My only commitment to Chad Day was that we would send him a notice prior to the resumption of drilling, so that he is not surprised. I also reminded him that I sent him a letter a few weeks ago stating our intentions to commence this new drill program and he never objected to that,” Shirvani stated.
“We have a multi-year drill permit for an area where exploration has been conducted without a single incident like this in more than half a century. We are excited more than ever by what we see at the Hat Property. Our aim is to resume drilling as quickly as possible and prove up a world-class deposit for our shareholders. The outpouring of support we’ve received from many shareholders and others is greatly appreciated,” he concluded.
Doubleview President and CEO Farshad Shirvani with his “Golden Hat”.
Over the weekend, after conducting additional research and interviews the past couple of days, we’ll have much more on the Tahltan Tantrum at the Hat Property/Sheslay district…
DBV 2-Year Weekly Chart
Technically, DBV has shown exceptional support during this volatile week, suggesting that paper has been moving from weak hands into strong hands the last couple of days…recently, there has been a “Golden Cross” – the 50-day SMA has moved above the 200-day SMA, typically a bullish sign…
Note how the 11-cent Fib. level has held which is also at the bottom of a horizontal trading channel the stock has been in for an extended period…the 500-day SMA at 15 cents (not shown on this chart) continues to rise…
BitGold Inc. (XAU, TSX-V) Update
Our last BitGold (XAU, TSX-V) chart July 3 showed how extreme overbought conditions had emerged in the RSI(2) with XAU trading as high as $6.72 the previous day…that was a warning sign, as John indicated, and since then RSI(2) has slipped to just 35%…
There’s important Fib. resistance at $5.84, a key area to watch…XAU is off 4 pennies at $5.81 as of 10:50 am Pacific…
Natcore Technology Inc. (NXT, TSX-V)
Big move yesterday in Natcore Technology (NXT, TSX-V) which interestingly announced yesterday that it has developed a new solar cell structure that will simplify the production process, significantly lower costs and speed the path toward ultra-high efficiency cells…this new cell structure, according to the company, has the potential to completely eliminate high-cost Silver from mass-manufactured silicon solar cells, an achievement that has been a long-time goal of solar science…
Technically, this 3-year weekly chart shows how NXT yesterday hit the top of a downtrend line…what would be significant would be a confirmed breakout above the Fib. 50% resistance level and that downtrend line…worth watching closely…as always, perform your own due diligence…
NXT is unchanged at 75 cents as of 10:50 am Pacific…
Note: John and Jon both hold share positions in DBV.
Facebook Post from President Chad Day:
The Tahltan Nation issued no permits for these exploration activities and will remain united and determined to protect this area. The company was well-aware of the sensitivity of Sheslay and chose to ignore our numerous requests to cease activities over the summer. I hope other exploration companies take notice and are more respectful towards the Tahltan Nation in the future. We are not opposed to all exploration activities and developments, but we will make sure certain areas, such as Sheslay, remain protected for our future generations.
No permits they say??? Who is telling the truth???
Comment by Concerned Citizen — July 10, 2015 @ 2:51 pm
Hogwash, Concerned Citizen, but thanks for pointing this out. The B.C. Ministry of Energy & Mines issues exploration and drilling permits, and that process must include First Nations consultation or the NOW (“Notice of Work”) will not be granted. Of course the Tahltan Nation doesn’t issue permits. In the case of DBV, GGI and PGX, the Tahltan never opposed the issuing of the government’s permits for these companies.
In the case of Doubleview, they are working under multi-year permit MX-1-872 issued by the Ministry. DBV reported earlier this year they had received an amended permit, and this passed through a division of the Tahltan. No opposition.
But here’s another critical point that shows how offside the Tahltan are on this issue. When they claim they don’t support exploration/mining activities in this area (in reality, this is not the case – they do, but only if there’s “enough in it” for them), they have already totally contradicted themselves because Tahltan Drilling Services has drilled every hole completed by Doubleview so far, beginning in the spring of 2013 to now.
Up until the Tahltan AGM last weekend, the TNDC (the business arm of the Tahltan Nation) owned a majority interest in Tahltan Drilling Services. So Chad Day, elected President of TCC in July 2014, allowed his Tahltan majority-controlled drilling company to carry out drilling at the Hat through the balance of 2014 and into 2015, including key hole H-23. In addition, over the last 2 years, other Tahltan-related exploration services companies have carried out work in the district. How could Chad allow that if he and all of his people are so opposed to exploration in the district, as he claims?
Everything changed with Chad after hole 23 at the Hat. Because of the greatly increased perception of value of the project, and as a means of leverage against the provincial government over a broader land management deal the two sides are discussing, and that Chad wants in place before he’s up for re-election next year, he has decided to use the Hat Project and the Sheslay district as a bargaining chip. In his mind, his actions will also give him leverage against Doubleview (perhaps even greater leverage, he could be thinking, if his blockade circus and media show knocks down DBV’s share value). This is all about money, politics and power. I repeat, a huge stamp of value for the Hat Project and the district as a whole.
The Tahltan are not on record as ever being against exploration in the Sheslay district. Exploration in this district goes back decades. The Tahltan actually helped build the Golden Bear Mine access road in the late 1980’s, and handled the maintenance contract for that access road. This access road stretches 160 or so km, through a good portion of the Sheslay district, and includes a bridge over the sensitive Sheslay River to connect with the past-producing Golden Bear high-grade gold mine just to the east.
Those are the facts, everyone. And there are even more facts that are coming out. So who is telling the truth? Judge for yourself.
p.s. It’s no coincidence, we believe, that in the midst of all this craziness, that a key 10-year Tahltan employee (Project Manager for THREAT, a division of the Tahltan Central Government), resigned effective June 30. Some elders in Telegraph Creek are also reported to be embarrassed by the blockade antics. Chad’s credibility is starting to take a hit. He has miscalculated, but 28 year-olds fresh out school who are over-confident after a little taste of success, and lacking real-world experience, often stumble when they least expect to.
Comment by Jon - BMR — July 10, 2015 @ 4:20 pm
Thank you Jon. Love you guys at BMR! Please keep up your continuous stream of quality journalism, many shareholders and onlookers are learning so much reading this site. Appreciate your comments as much as your articles. Thanks again.
Comment by Concerned Citizen — July 10, 2015 @ 4:43 pm
On the TAhltan Facebook page Chad Day says we stayed all night and prayed and danced and didn’t leave until the company promised to stop all drilling for the rest of the summer?
So it sounds like there is not currently a blockade at the drill site , wonder what Farshad is going to do next.
Comment by Greg — July 10, 2015 @ 4:43 pm
Greg, we specifically asked Farshad and Dr. Razique last night about Chad’s Facebook claims, and Farshad’s remarks to us were posted in Morning Musings today. They (Farshad/Dr. Razique) have a different version of events. First off, when Chad refers to “we”, this obviously did not include Farshad or Dr. Razique. They weren’t dancing and praying with Chad and his group of militants. Chad, perhaps, had probably drank too much of his own Kool-Aid to fully remember all that was said. Why didn’t he get something in writing from Farshad? Because he couldn’t. Dr. Razique told us that Chad went home “very disappointed.” Farshad stood his ground and says (backed up by Razique) that he would notify the Tahltan when DBV was going to resume drilling. They are positioned to resume drilling at a moment’s notice. But Farshad is weighing all of his options and, as reported by DBV, is in discussions with its legal counsel over the best way to proceed. This was an illegal blockade. Farshad is a bulldog. That unique determination of his is what has gotten the Hat to this level from a grassroots project just 2 years ago. An amazing Canadian exploration story, especially in the current market environment.
Given the incredible inconsistencies in Chad’s public remarks to date, why is there any reason to believe what he claimed last night on his Facebook page?
Comment by Jon - BMR — July 10, 2015 @ 5:00 pm
Jon
I don’t believe a word Chad Day says but unfortunately a lot of his people that read Facebook do and the record needs to be set straight and the truth needs to be out there
For all to read it sounds like a lot of his people just take his word no matter what …
Very sad he needs to be punished for all the lies he is posting…
Comment by Greg — July 10, 2015 @ 5:16 pm
Don’t worry, Greg, let him continue to play his game for just a little while longer…remember that book we read as kids, The Tortoise and the Hare?…
Comment by Jon - BMR — July 10, 2015 @ 5:23 pm
Sounds like he just needs to get clearance from his legal team, drilling will in all likelyhood resume shortly, day is young and sees an opportunity to never work a day for the rest of his life, unlike myself buying a lotto ticket for tonite. I just wonder how his own people that he is forcing to sit at home by not working the drills are takeing this, maybe a revolt amongst his own people are in order?
Comment by Tombc — July 10, 2015 @ 5:35 pm
Jon, thanks for all your hard work keeping us informed. In the end the truth wins out (most of the time anyway). I think a little national attention might be a good thing. You cannot buy the kind of publicity that may come from this. We may just have to be a little patient for this to play out.
Comment by Danny — July 10, 2015 @ 5:55 pm
my people own 30 percent of dbv. what we want is to go to b.c. mining minister and tell those indians that they have no claim of this property get off our property and bring in a real drill crew and they then can deal with the b. c. goverment they have no claim to property..that is why they are doing this it is nothing but a land act which they do not have…
Comment by tony roma — July 10, 2015 @ 6:42 pm
Jon
Remember it well
I just have never been very good at being the tortoise! Lol
Comment by Greg — July 10, 2015 @ 7:00 pm
what a week….1st the Greece, 2nd the Chinese, and then DBV…..chinese seems to rebound nicely….Greek: Latest: Greek lawmakers back PM Tsipras’ reform plan
Prime Minister Alexis Tsipras has won backing from the Greek parliament for the tough reform proposals he submitted to the country’s creditors, clearing a key hurdle ahead of a meeting of all European Union leaders on Sunday. The proposal – which includes cutting pensions and raising taxes – has also got early support from EU and International Monetary Fund officials, ahead of a meeting on Saturday of euro zone finance ministers.
Comment by STEVEN1 — July 10, 2015 @ 8:55 pm
can we get next week to move ‘forward’ after all this nonsense everywhere this week!
Comment by STEVEN1 — July 10, 2015 @ 8:56 pm
in response to Tony Roma.. I have always wondered why the first nations get so much consideration even when they are illegally performing acts that the RCMP should be protecting the rights of those that are being illegally acted on..
your actions with the minister would be welcome.. I fear that no one in our lifetime will meet the first nations head on.. tippy toe seems to be the actions that all seem to take..
so go for it mate.. there needs to be a first time and by removing the FN drill team shows that there are real consequences to the actions of their leadership. 10 to 1 the minister will balk!
Comment by Jeremy — July 11, 2015 @ 5:28 am
Just checked the TCC FB page and noticed that the 28 year kid had many negative comments removed and of course all the supportive comments were left alone. He even erased their own people’s comments that were negative. …..Mr John P Noble’s (a Tahltan elder) comments were deleted. See comments 36 & 38 from yesterday for Mr John P Nobles comments.
Comment by d4 — July 11, 2015 @ 7:31 am
Jeremy, you bring up an excellent point. We live in a more politically correct country than ever right now, dominated a lot by a media that are afraid to say even the remotest thing negative about First Nations.
It’s almost like they are “untouchable”. They get a free ride among most media, and Chad Day knows who those media are.
I am not “anti” First Nations, but I am also not part of that politically correct, left-wing world that, among many other things, accepts whatever First Nations says as gospel.
My mom, though she was white, was actually a band manager at a native reserve in B.C. As a teenager I spent a lot of time on the reserve, got to know First Nations people and learned much about their challenges, their positives and negatives.
I’ve been on Tahltan territory, meeting Tahltan, and I’ve also been at the Tahltan Iskut band office – that was a couple years ago when we started research on the Sheslay district.
We’ve developed a very good understanding of the Tahltan structure, and I appreciate how they are trying to build a sustainable future. Many Tahltan people are great people.
However, that being said, I can state unequivocally that what’s happening in this particular situation, and the approach Chad Day has taken, is way off-side. There is an agenda here, a major agenda, that is very different than what Chad has portrayed. Many misstatements and inconsistencies beginning with his May 21 letter when this all started. After hole 23 – that’s important.
When I say this is about money, politics and power – believe me, that’s exactly what it is. It’s critical to discern the truth. We all need to stand up behind Farshad here – Doubleview as well of course as Steve and Garibaldi. The potential mineral wealth of this district, and many others in the know are now conviced of this as well, is mind-boggling – beyond what probably many of our readers even imagine right now. The Hat is a far bigger system than what we even thought just 6 months ago. Like Regoci said, it’s a “monster”.
We are going to press this issue hard. As respectfully as possible but very hard.
You say there needs to a “first time”. This is it. We see a very big wrong here, and as non-traditional media we are going to lead the charge.
As a side note, I suggest everyone take a look at the just-released National Post article re: the 25th anniversary of the Oka crisis. Good for the National Post. They’re not in the politically correct crowd. They’re not the CBC, the Toronto Star or the Vancouver Sun.
Stay tuned. This is about to become even more interesting.
In answer to Tony’s good question below, DBV and GGI both have the legal right to drill, the full authority from the province. From our research the last 48 hours, this is now at the highest levels of the British Columbia government. Farshad has options, as DBV stated in their news release. He also has growing financial power – we have spoken to certain investors who are rallying behind him in a major way. Whether it’s through a quickly put together understanding with the Tahltan, a court injunction, or the B.C. government interjecting, DBV can get the drill turning again very soon, and GGI is really close to being ready. Does Chad want to escalate this to an Oka crisis? I would hope not. Nobody, including Tahltan, would want that kind of scenario.
Comment by Jon - BMR — July 11, 2015 @ 7:41 am
I see my post on the Tahltan Facebook page was removed
Comment by Greg — July 11, 2015 @ 8:46 am
Anxious to see next step from Farshad !
Comment by Guy Delisle — July 11, 2015 @ 8:47 am
“Stay tuned. This is about to become even more interesting” Jon, will you let us know today what that is?
Comment by Dan — July 11, 2015 @ 8:50 am
d4, my comments on the TCC fb page were removed as well
Comment by Sam — July 11, 2015 @ 8:51 am
I really hope we can show the kid that bullies don’t always win and that its not an acceptable form of negotiation.
The best case scenario (assuming its timely) would be one where Farshad doesn’t give in and one which makes the kid look like an idiot in from of the nation/his people. I hope the cancel the contract for the Tahltan Drilling Services and they bring in a non-first nation drill company! Since the kid approached the situation is a very unprofessional way and made DBV and Farshad look bad, let him have it the hard way but losing out on everything! Its unfortunate that his people will look bad due to his actions as I know there are many that support DBV.
It would be great to see Farshad also take this to court for defamation of character and for making the company look bad when it wasn’t true! The kid needs to learn a lesson before he continues doing this to others. He won with Imperial Metals but that was a totally different issue.
Comment by D4 — July 11, 2015 @ 8:53 am
d4 my comment on Facebook page were removed as well !
Comment by Guy Delisle — July 11, 2015 @ 9:06 am
Think that it may be hard to find a drill contractor
willing to go in under the circumstances, certainly would
need law enforcement guaranteed by the province, to secure
the drill site. I think, IF THEY CAN, put together an understanding
with the Tahltan, and avoid a drawn out legal scenario, it
would be the most desirable from a time perspective.
Comment by Bob — July 11, 2015 @ 9:28 am
Jon you said something about a # to call, maybe I missed it, there must be a certain person to contact by e- mail at the ministry of mines, to voice our concerns, let’s fill up some mailboxes.
Comment by Tombc — July 11, 2015 @ 9:30 am
TCC FB page put the following….the Red Chris mine provides the Tahltans with plenty of jobs, more and benefits!
“The Red Chris mine has an opportunity to join the Mill Operations team. The successful applicant will be required to work and stay in camp during their shift rotation.
Pls click the link below to apply if you are interested.”
http://tahltan.org/job/mill-operators-flotation/
Here is a comment from one of the elders again….John P Nole which has been very vocale on the issue. His comment will probably be deleted again like his others!
“let shesley Mining go ahead Tahltan people need the jobs right imperial metals they need your lawyer please help so the blockade will come down”
Comment by D4 — July 11, 2015 @ 9:59 am
I keep liking every comment of his against the issue as he is on our side!
Comment by D4 — July 11, 2015 @ 10:00 am
Court cases cost a lot of money , best get any nogoations done out of court even if it appears crude they are what they are . I’m sure Chad Day is taking a lot of heat from his own people as many of them realize the danger of losing this opportunity to develop the Hat.
Comment by Les — July 11, 2015 @ 10:36 am
Another post by John P Noble…..a Tahltan elder…on TCC FB page.
John P Nole
if you let one go like red crest and once you signed a m o u and there is an agreement in place like the one for imperial metals what does it cover agreeing with Bill Bennett is a go ahead for all the land to be mined with bill c51 you will be label terrorist
Comment by d4 — July 11, 2015 @ 11:01 am
Technical report Hat Property :
Exploration work on the Hat mineral tenures is subject to conditions of permits issued by the British Columbia Ministry of Energy and Mines. Simple field work that does not involve extensive tree removal, blasting or road building requires notification of the Ministry. More extensive work, including drilling, trenching, road building, use of heavy equipment and camp construction, is subject to permitting. The permits normally specify the terms of use and may include requirements for defining a Mine Emergency Response Plan, consultation with First Nations, Chance Find archaeological procedures, and maintenance of high standards of environmental stewardship. A reclamation bond may be required.
Comment by Guy Delisle — July 11, 2015 @ 1:43 pm
Excellent point, Guy. They have followed very stringent rules and guidelines, and as reported in late April, they received an amended 5-year exploration and drill permit from the Ministry, and the Tahltan were consulted on this and it passed through their land management division.
Garibaldi received a 5-year exploration and drilling permit during the second half of last year, and Prosper’s expanded permit was awarded in early 2014 as follows:
“This Notice of Work Permit allows Prosper Gold to conduct surface drilling from 200 ground and helicopter supported locations over a five year period. Prosper now has permission to expand the camp at the Star target to 35 people (12 Structures) and establish a temporary fly camp at Pyrrhotite Creek for up to 8 people (6 Structures). Also included in the Notice of Work Permit is permission to conduct mechanical trenching at 50 sites, a 50 line km IP survey, and 5 km of new exploration trail construction to add to the existing network of over 50 km.”
All this under the watchful eyes of the Tahltan, while their own majority-controlled drilling company was financially benefiting from drilling 2 dozen holes at the Hat – then boom, comes hole H-23 and a reinterpretation of the Hat system by Dr. Razique during the April-May period. On April 21, exactly 1 month before Chad’s first letter, DBV publicly announced, “The company believes that the Hat property may be host to a major, world-class deposit.”
When something of major value becomes apparent, all of a sudden the Tahltan want to change the rules of the game and play hardball with both the government and the companies, especially at this point Doubleview.
The illegal blockade came a week after DBV’s critical July 2 news release and the announcement of a 1 km step-out. Tahltan stops drilling when H-25 is in a zone of copper-gold porphyry mineralization at a depth of 275 meters, 1 km from Lisle Discovery Zone. Think about it!!
The Tahltan have endorsed exploration in the Sheslay district for decades through a series of actions and inactions. This is all about Chad Day playing hardball to position the Tahltan as favorably as possible with the government – putting pressure on them as we have discussed – and for the next “Red Chris” deal. Don’t forget, there were Tahltan protests and blockades at Red Chris as well.
Comment by Jon - BMR — July 11, 2015 @ 1:52 pm
Jon- thanks for the timeline. It really gives away their motives/intention! Its easy to see why they are doing this and going back on their words! They want a piece of the pie early before the big discovery….
Comment by D4 — July 11, 2015 @ 2:12 pm
The timeline says it all, D4. It says it all – the facts.
Comment by Jon - BMR — July 11, 2015 @ 2:15 pm
Jon
Why didn’t Tahltan stop Prosper from drilling last year? Oh that’s right Prosper didn’t put out an NR saying they had made a possible huge discovery … This is so obvious , but it really puts Dbv in a tough spot too as I’m sure the last thing Farshad et al really want is on going bad relationship with Tahltan , hopefully they can get this resolved quickly where both sides will be happy…
Comment by Greg — July 11, 2015 @ 2:39 pm
Greg, you’re right – they made no fuss about drilling at the Star Project. Keep in mind, the geological facts are a little different regarding the Star. What PGX did in their drilling in 2013 and 2014 was essentially confirm an existing deposit that was first drilled some 50 years ago. They moderately expanded the footprint of the Star deposit, but did not drill Star North (1 km away) or test other critical areas. In the case of DBV, this is an entirely new discovery – the first holes ever drilled at the Hat were in 2013 (exploration dated back to the 60’s, at least). Each round of drilling by DBV has produced better results. Now this project which was at the grassroots stage just 2 years ago looks like a monster – far bigger than what has been demonstrated so far at the Star Project. And it further proves that the entire Sheslay district is “pregnant” as the highly respected Dr. Dirk Tempelman-Kluit first said.
Then there’s the Grizzly…GGI has reason to believe it has its own monster. There is a 30-km long mineralized corridor in the Sheslay district that has a very good chance of hosting several world class deposits. This is absolutely massive.
Comment by Jon - BMR — July 11, 2015 @ 2:44 pm
If they give them what they want they will quickly become supports of DBV! As long as their demands aren’t ridiculous, I think DBV could easily settle and get the those drill turning again. If this turns out into a world class deposit they will come knocking again later anyways if they don’t settle now and honestly, if they have what I think they have it won’t make much of a difference to shareholders…..SVMC will still have plenty of members!
Like one of the elders posts on FB said…..Tahltan people need more jobs.
SVMC = Sheslay Valley Millionaires Club
Comment by D4 — July 11, 2015 @ 2:50 pm
Good post on Stockhouse from Geodcan !
First Nations are proud people that want to be actively involved in government when it pertains to stewardship of the land. I think they feel left out of important decisions regarding all the land that they claim. I would like them to understand that times have changed and they should come to the table and negotiate a deal for the times. So far the negotiations have been buy-outs and cash payments that resemble extortion and hush money so that progress can take place. A good will gesture on their part would be if they agreed to become part of the taxpayer program that the rest of Canadians accept. They could pay a token amount on all the lands they claim for the benefits they receive from government. The rest of Canadians have to do this for lands they own and it seems reasonable. These monies go towards schools, hospitals, infrastructure and government for administration. If they want to be a part of government they should anti-up. The first thing that would happen when tax time comes is their land claims would get smaller because their is a cost to owning land that the rest of Canadians pay. Of course this would be subject to adjustment just like it is to the rest of us when government can’t meet their financial obligations. If that isn’t acceptable then maybe they should file mining claims so they have first dibs to keep other mining companies out. Of course they would have to expend some money on these claims to keep them active or give them up. The way it is now is laughable because it seems to investors that they are just extorting a piece of the action from the shareholders of these projects. If they become taxpayers they would have a lot more credibility and be able to hold their heads up with pride as contributing Canadians. It is admirable that they want to enforce proper reclamation of these land altering projects and as a part of government they could help to enforce that the reclamation money goes to where it was intended to go. I own shares of some of these juniors in this area and if these projects go I expect a nice return as we expand the new goldrush. The government of BC is investing a lot of money and effort in this area to bolster badly needed tax revenue and I think they will force it to happen irregardless of the land claims issues. They have invested too much money and need the revenue too badly to let this simmer. These are my thoughts and I suspect a lot of others share these sentiments
Comment by Guy Delisle — July 11, 2015 @ 3:11 pm
Well at least now we know the size and value of this for both dbv & ggi, guess we just wait, yet some more!!
Comment by Tombc — July 11, 2015 @ 3:29 pm
great comments guys… and Jon… appreciate your my comment.. this hopefully will be the first time… lost opportunity here wont cut it!! BC and DBV are the ones to cast down the gauntlet!!
You guys have spent an inordinate amount of time researching this debacle and hopefully DBV et al can benefit as well from your perseverance!!
Hope sleep comes:) these are the things that keep peeps up at night!!!! Not Chad Day I bet.. weasel!!
Comment by Jeremy — July 11, 2015 @ 3:31 pm
Thanks, Jeremy, we became convinced back in the spring/early summer of 2013, after a couple of months of behind the scenes exhaustive research, that the Sheslay district would become a national story based on how prolific the region is, and the new discoveries that could be made. And how this could impact northwest B.C. and become a focus of major attention. That time has arrived. Pardon the pun, but as the saying goes, hang on to your Hat.
Comment by Jon - BMR — July 11, 2015 @ 4:21 pm
something a little different…a good Canadian hockey brawl.
Watch on youtube “Gino gone mad – Gino Odjick against the St. Louis Blues”
Comment by Martin — July 11, 2015 @ 5:30 pm
Hey Jon.. hanging on:)
Comment by Jeremy — July 12, 2015 @ 5:56 am
Tom, we’ll be providing that contact info tomorrow. It’s going to be a very interesting week.
Comment by Jon - BMR — July 12, 2015 @ 6:25 am
“It’s going to be a very interesting week”
Jon- Can you fill us in? In your opinion, what do you expect to happen?
When will the video with the lead driller come out?
Thanks
Comment by D4 — July 12, 2015 @ 6:30 am
Hi D4, not trying to be coy – just can’t say too much right this minute. I’m feeling great this Sunday morning. Stay tuned.
Comment by Jon - BMR — July 12, 2015 @ 6:35 am
Jon- we look forward to the updates but hate the wait…lol. We understand that the team is working hard and pursuing many different leads and it takes a lot of time!
How many people are working hard behind the scenes and are part of “the team”?
Can you at least give us a hint (ie a good interesting week for DBV shareholders)?
I have an interesting theory of this that many would never believe but can’t say publically…..lets just say its a win-win situation for both sides!
Comment by D4 — July 12, 2015 @ 6:48 am
D4, your interesting theory could be the same as ours. We are following up important leads and double-checking and triple-checking facts. This is first and foremost about facts, then opinions come in. I’m feeling great this morning. Let’s leave it at that until we post more on all of this as soon as possible, certainly by tomorrow morning if not sooner.
Comment by Jon - BMR — July 12, 2015 @ 7:02 am