Gold has traded between $1,238 and $1,247 so far today…as of 5:30 am Pacific, bullion is up $1 an ounce at $1,241 (important updated chart in today’s Morning Musings)…Silver is unchanged at $14.92…Copper has added another penny to $2.18…Crude Oil is off slightly at $34.50 while the U.S. Dollar Index has retreated one-tenth of a point to 98.05…
Inflows continue into Gold-backed exchange-traded funds…holdings in the SPDR Gold Trust hit 788.6 tonnes yesteday, the most since September 2014…
Traders are eagerly awaiting tomorrow’s U.S. non-farm payrolls report for February for important jobs and wage data, numbers that are likely to impact both the greenback and Gold…payrolls are estimated to have risen by 190,000 last month, according to a Reuters poll of economists…a strong reading may revive expectations that the Federal Reserve will press ahead with more rate hikes this year…keep in mind, however, that Gold held near its session highs on Wednesday despite the fact that private payrolls processor ADP said that 214,000 jobs were created in February, well above the expected forecast of 185,000 jobs…
Gold has been in a pennant formation for the last 13 trading sessions and could decide by no later than tomorrow to bust out to the upside…
Oil Update
A drop in U.S. production to levels not seen since late 2014 gave Crude prices a lift yesterday with the highest close since January 5 despite a much more than expected rise in inventories…the EIA reported U.S. Oil production fell last week by about 25,000 barrels per day (bpd) to just over 9 million bpd, down from a peak of 9.6 million bpd in April…more reliable monthly figures from EIA put U.S. Crude production at 9.2 million bpd in December…
The resiliency of North American exploration and production companies has been remarkable, but 2016 will be a year of reckoning for the industry…research from AlixPartners on 130 publicly traded U.S. and Canadian E&P companies suggests that, at current Oil prices, they will have a combined $102 billion operating cash-flow shortage to cover interest expenses and capital budgets…
Aubrey McClendon, the billionaire oilman and the former head of Chesapeake Energy (CHK, NYSE) who was instrumental in launching the U.S. shale energy revolution, died in a car crash in Oklahoma City yesterday morning…it was an apparent suicide as McClendon, who was also the owner of Oklahoma’s NBA franchise, drove his 2013 Chevrolet Tahoe at a high rate of speed, according to police, and slammed into a bridge embankment in northeast Oklahoma City…his death came less than a day after the 56-year old was charged with rigging bids for Oil and Natural Gas leases…
Natural Gas futures dropped to their lowest level in 17 years yesterday with warmer-than-normal weather expected to contribute to a below-average fall in weekly U.S. supplies of the heating fuel…year to date, futures prices have lost more than 28%…what’s shaping up is likely a tremendous buying opportunity at some point during perhaps this 1st half of the year, a situation we’ll be watching closely…analysts at Morgan Stanley expect a strong finish to 2016 for Natural Gas when the market is expected to return to balance…
In today’s Morning Musings…
1. Is Donald Trump good for Gold?…
2. Canadian dollar update…
3. New Carolin Gold (LAD, TSX-V) on verge of breakout…
4. Good sign for the Venture – two “bellwether” juniors are gaining momentum after breaking out above long-term downtrends…
5. Kirkland Lake Gold (KGI, TSX) surges 66% in 3 months…
Plus more…to view the rest of today’s Morning Musings, login with your username and password, or click here to gain full access to this and other exclusive BMR content and features…
I have owned GBB and ABI since 2009ish…. got caught in the downdraft and have waited patiently with medication and a tie off on the ledge I have been standing on for 3 years.
I have been despondent at times… in fact downright ornery!!
I often thought that the venture environment was toast and nothing would EVER come back.
I also said I would never do it again – I lied about that part BUT>
I wish for everyone a positive outcome to their investment/trading decisions and holdings.. would hate to lose any of you.
I think we have turned a corner…. forever hopeful…
Comment by Jeremy — March 3, 2016 @ 6:16 am
Yes, I believe the corner has finally been turned, Jeremy.
LIX halted at 6 am Pacific, news pending. Should be interesting.
Comment by Jon - BMR — March 3, 2016 @ 6:32 am
NXE just halted…more news to follow after their just-released maiden resource estimate a few hours ago…interesting day shaping up…
Comment by Jon - BMR — March 3, 2016 @ 6:37 am
GGI – no halt, no news, no volume. Congrats longs.
Comment by George — March 3, 2016 @ 6:44 am
I feel sick! I coulda made a ton of money… the stock I sold to buy GGI went up big…
I’m still making a handsome profit ’cause I didn’t sell all of it, but now I am extremely hesitant about averaging down on GGI. My GGI and DBV averages are 0.15, the Sheslay has been an endless black hole money pit to me… Chad Day the POS single handedly destroyed my willingness to invest more in PGX/DBV/GGI… Should I just sit on cash and wait for interesting opportunities other than GGI…
Comment by ConcernedCitizen — March 3, 2016 @ 6:44 am
GGI – still nothing from the metallurgical results and no indication that they are drilling Rambo target. I thought Regoci was going to change his style. I am beginning to believe GGI needs someone else at the helm.
Comment by Dan1 — March 3, 2016 @ 6:50 am
CC, I feel the same pain. Next week is PDAC, hopefully we get news from both Dbv and Ggi.
Comment by Sameer — March 3, 2016 @ 7:41 am
Another good day for the CDNX with a gap up at the open . Money is moving into some small caps , sure would be nice if some would move into DBV, if only they would give us a news update .
Comment by Lester — March 3, 2016 @ 7:53 am
GGI – aggressively bought it, been holding it for half a year now…? We could have thrown a dart at a stock and have done better than we have done on GGI. 6 days left until I take my loss.
Comment by George — March 3, 2016 @ 8:05 am
Yes, let’s see what PDAC brings for both GGI and DBV…been a bit of a financial black hole for me too CC!!! I’ve noticed that DBV has had a fair amount of volume this week – although the price as dropped it’s still holding it’s own….perhaps news IS actually on it’s way.
Comment by ChetBaker — March 3, 2016 @ 8:33 am
ChetBaker , I sure hope we hear something from DBV, it’s lack of news is showing in the share price . There is such a clamp down I’m not even hearing any rumours.
Comment by Lester — March 3, 2016 @ 9:07 am
GGI – I am hearing that they might put out a news release after close tonight about possibly thinking about drilling.
Comment by George — March 3, 2016 @ 9:32 am
Yes Lester, who knows what’s to come with all this. Farshad picked up 50,000 shares @ .07 a few days ago…not a lot of shares but still nice to see. News coming perhaps or maybe he was just trying to prop the share price up during its recent decline.
Comment by ChetBaker — March 3, 2016 @ 9:35 am
ChetBaker,I saw that , it would need a lot more than 50,000 shares to prop this baby up but good to see he is buying . After doing some digging I just got a few rumours and they are good and I’m not saying that because I want the stock to go up a few pennies as I’m not a short term trader. Things are starting to happen ,Lordy it’s taking long enough. Farshad goes to PDAC every year and he won’t be going empty handed this time.
Comment by Lester — March 3, 2016 @ 10:23 am
I feel everyones pain reading these posts. Especially to my bud, Jeremy. Ecuador is cheap Jeremy, you can re-cap your loses in just 2 years living there.
There are many stocks that have done well. more importantly, there are many stocks that are going to do well coming up. I took a lad (no pun intended) under my wings and he is taking his losses and moving on to stocks with great potential and delivering green right now. Money is flowing into gold now, uranium is still hot in that NXE region. Many stocks are getting ready to make moves up. There are many that I can list here. But only you can make a decision to take the loss and shift your money around. I feel for all of ya.
Comment by dave — March 3, 2016 @ 10:24 am
Les, can u give us some insight to some of these rumors? I heard we can expect a few news releases this month and they will be good. That’s all I heard.
Comment by Sameer — March 3, 2016 @ 10:51 am
DBV is having a nice little run today…nice to see us recover a bit.
Comment by ChetBaker — March 3, 2016 @ 11:29 am
DBV up 28% on 400k shares…last trade .09 – anyone hearing anything?
Comment by ChetBaker — March 3, 2016 @ 11:31 am
Jon – you mentioned BFF a few ago. Look at the level 2 on this one. .20 and .21 were resistance, only resistance in front of it now is .26 with a 1 conf number. This thing is getting ready for a parabolic run.
Comment by dave — March 3, 2016 @ 11:43 am
I agree Dave. I guess in the end we can only blame ourselves. I shouldn’t have listened to BMR and bought GGI, and then bought more GGI and then held GGI, and then continued to hold GGI. I have less than a week left before I sell GGI and move onto something else at current prices 50% loss assuming I can get out at these prices. Terrible. I think I will sell it and short KGI.
Comment by George — March 3, 2016 @ 11:49 am
U are right, Dave.
Comment by Jon - BMR — March 3, 2016 @ 11:58 am
Chetbaker – DBV, that is strictly a TA move today with a hammer candlestick at a double bottom. I guess the question you have to wait and see is will it last. Looking at the chart, it has to get above .10 to break out above the down slope. Sometimes a move up continues, sometimes it last a day. We may know tomorrow.
Comment by dave — March 3, 2016 @ 12:02 pm
BFF – this could be a parabolic move Jon, only 30k to .28 and the bids are stacked six figures.
Comment by dave — March 3, 2016 @ 12:03 pm
George – a short on KGI may work good. I just looked at it. I will try to give a heads up when it loses steam and is going to correct.
Comment by dave — March 3, 2016 @ 12:06 pm
WOW – BFF – 321k on bid now at .20, say bye bye tomorrow, lift off
Comment by dave — March 3, 2016 @ 12:16 pm
ABR Wall @.02 almost gone 20 million on the bid
Comment by bcguy — March 3, 2016 @ 12:30 pm
Some people must know something on DBV. I wonder how many of those that bought at .065 and .07 are on the ask today. I have the same rumours Chet and Sameer.. May even have some news just before PDAC which starts Sunday.
Comment by Lester — March 3, 2016 @ 12:41 pm
Jon – BFF, now only 40k to .35, buckle up
Comment by dave — March 3, 2016 @ 12:52 pm
REX and CLZ enjoyed a Modeste increase and interest today. Either drilling has resumed or pending assays are close to results.
Comment by Dan1 — March 3, 2016 @ 2:05 pm
DBV traded 462,000 shares today up 28% most likely some savvy buyers yesterday took some profits today ; but it’s got a long way to go just to get to it’s old high of .40 . This year the main theme wil be to expand on those 25 holes which have gotten better mineralization with each round of holes drilled. Chad Day and delays have taken their toll on the DBV share price but so have others including GGI . Drill Farshad drill.
Comment by Lester — March 3, 2016 @ 2:38 pm
Dave, thanks for the input…I’ll be completely honest with you, I have no idea what “a TA move today with a hammer candlestick at a double bottom” means!!!! Haha….new(er) investor here…not that savvy. Thanks, I’m sure most here understood what you meant!! I on the other hand, will be on Investopedia trying to decipher it.
Comment by ChetBaker — March 3, 2016 @ 2:57 pm
DBV – I have heard that Farshad will not resume drilling until he clears this issue with DAY which includes filing the paperwork again and all that. It sounds like it will be a while before they resume.
Comment by dave — March 3, 2016 @ 4:29 pm
DBV News
Doubleview to seek narrower Tahltan injunction
2016-03-03 18:53 ET – News Release
Mr. Farshad Shirvani reports
DOUBLEVIEW PROVIDES CLARIFICATION OF RECENT SUPREME COURT RULING
Doubleview Capital Corp. is providing details of the recent Supreme Court of British Columbia decision regarding its application to obtain a pretrial injunction to stop Day et al. (the defendants) from interfering with Doubleview’s Hat project drill program. As well, Doubleview is, as permitted by the court, filing a renewed notice of application. Doubleview’s litigation is the result of actions in July, 2015, by defendants that caused suspension of drilling on the Hat property.
Doubleview established a strong arguable case for inducement of breach of contract and conspiracy by the defendants (Chad Norman Day et al.), and that their element of unlawful conduct could knowingly result in injury to Doubleview. The court granted Doubleview leave to reapply for a narrower-based injunction that is reflective of the inducement of breach of contract and conspiracy claims, but dismissed the broader injunction application against the defendants.
The court also sought clarification on the matter of whether or not recommendations for further archaeological studies, from Baseline Archaeological Services, applied to Doubleview’s current drilling program. Doubleview’s new application for a narrower injunction includes an affidavit from Baseline’s archaeologist that confirms that the recommendations do not apply to the current permitted area of Doubleview’s drilling program where archaeological potential is judged to be low.
Doubleview feels strongly that its current application meets the court’s requirements. The court’s denial of a pretrial injunction, contrary to information given in a recent Tahltan central government news release, does not dismiss Doubleview’s continuing litigation to obtain a permanent injunction and damages. The court acknowledged that the defendants “… could be expected to know that injury to Doubleview was likely to result.” Litigation is proceeding.
The Supreme Court of British Columbia’s reasons for judgment can be viewed on the court’s website.
Comment by Lester — March 3, 2016 @ 4:29 pm
I have a feeling that Chad Day is gonna blockade GGI soon if the court rules in DBV’s favour. Whoever said BC is a mining friendly area sure was telling tall tales.
Now how long will it take to obtain this injunction and will the court do the right thing or let itself get bullied by the Tahltans?
Comment by ConcernedCitizen — March 3, 2016 @ 5:10 pm
Jon
What are you hearing on this latest news re: DBV and any news on GGI ant the metallurgical testing or Rambo drilling?
Thanks
Comment by GREGH — March 3, 2016 @ 6:03 pm
Chad Day is up for election this year so expect the BS to be extreme, who knows what shenanigans he might pull . A good look at the Tahltan newsletter website is worth a look , according to it , the court case was cut and dried and DBV was toast. Is GGI in his vision crosshairs.? Who knows !
Comment by Lester — March 3, 2016 @ 7:12 pm
Gregh, it’s no secret that the relationship between Chad Day and Farshad is not good. In 4 months Chad is up for re-election. He certainly has some opposition. Perhaps Farshad’s thinking is that Chad won’t win re-election. This is a DBV/Farshad-Chad Day battle at the moment that unfortunately continues. It is DBV specific and has nothing to do with GGI. Regoci has managed to develop a strong rapport with Day and the Tahltan Central Government, which is why he was able to drill last year and continues to move forward. I did speak with Regoci today and more updates are imminent he says re: Mexico and B.C. So I suspect we’ll hear any day now that the drill is turning at Rambo. He’s extremely encouraged by what they’ve seen so far with regard to the Ultra 1 Zone metallurgy – that will be very important news for them. Regoci will need to lay out exactly how they see things coming together there and how that deposit could be unique and the material recoverable. The Grizzly focus will be on Grizzly Central as well as Grizzly South where trenching is now being planned to delineate drill targets for what they see is a Gold structure.
Comment by Jon - BMR — March 3, 2016 @ 7:26 pm
“It is DBV specific and has nothing to do with GGI” Maybe, but Chad Day’s craziness IS affecting GGI and PGX. How this guy became the Tahltan leader is a real head scratcher.
Comment by ConcernedCitizen — March 3, 2016 @ 7:59 pm
PGX’s problems were entirely of its own making in 2014, CC, months before Chad Day entered the picture. PGX’s craziness affected PGX. I don’t disagree with your assessment of Chad – the way he handled things last summer was deplorable. We’ll see if he wins re-election. As far as GGI goes, Regoci has skillfully worked out his own relationship with Chad Day and the Tahltan, which is why they’ve been the most active company in the district over the last 7 months and will continue to be.
Comment by Jon - BMR — March 3, 2016 @ 8:30 pm
One has to keep in mind ,why CD did the blockade in the first place . At the time DBV was the company with the most drill holes to show minerization and he wanted a piece of the pie just like he got from Red Chris.
Comment by Lester — March 3, 2016 @ 9:54 pm
Thanks Jon for the update.
Comment by GREGH — March 3, 2016 @ 10:07 pm
George and CC. I feel your pain on ggi. Like you I suspended my own trading rules when I got caught up in the enthusiasm from bmr and didn’t pay attention to my gut. If didn’t feel right and I ignored that warning. My bad. No matter what the story is behind any deal the ONLY thing that matters is PRICE…the rest is just fluff.
Don’t stay in any stock just because it didn’t turn out the way you had hoped. HOPE is a four letter word in this biz abs will get you
Comment by Treb — March 4, 2016 @ 3:08 am
Hmmm…must have brushed the submit comment button by mistake.
Just wanted to say that missed money is better than lost money. BMR has had many other successful calls with stocks that are trending up. Pare your losses and move on. You’ll sleep better at night and you might find yourself in the black in no time if gold continues it’s bullish march upward. Set your stops, with your broker or mentally and stick to them. Good luck.
Comment by Treb — March 4, 2016 @ 3:51 am
GGI – so an imminent news release is pending regarding the drill turning. This news could be a week ago. Then they have a drill. Then they have to hit. Then send results, wait for results, release results. If we find out by august I would be impressed. Maybe I share price bump or some volume so I can sell this thing.
Comment by George — March 4, 2016 @ 4:58 am
Lester, we all know Chad Day was carrying out a power-play in order to gain leverage with the government over negotiations on a new and expanded shared decision making agreement. That’s a fact, and in many ways that backfired with the government on him – it just angered government officials. However, Farshad’s initial mistake which helped spark Day’s action was the switching of drilling companies. Farshad never should have switched from Tahltan drilling. That was a 100% strategic error, and Farshad knows it. Having said all that, the Hat is still protected with the Land Use Plan and he has the drilling permits. I highly doubt Day would attempt to interfere with any new drilling at the Hat at this point. Getting caught up in this legal action, I’m sure his lawyers are all in favor of it but to me it’s a messy process – hasn’t been as easy as was first suggested. The Hat is a terrific property. It’s just screaming to be drilled more.
Comment by Jon - BMR — March 4, 2016 @ 5:21 am
Endeavor Mining takes out True Gold…all-stock transaction valued at 57 cents…that’s the kind of thing that helps add spark to the market.
Comment by Jon - BMR — March 4, 2016 @ 6:01 am
So does anyone have any ideas as to how long this new DBV injunction ruling will take? Are we back to waiting a few more months?
Comment by ChetBaker — March 4, 2016 @ 6:22 am
GGI – yes it has been a disaster, wish I could just sell 400,000 shares in the open market that easily. 5 days before I sell.
Comment by George — March 4, 2016 @ 6:48 am
DBV – got a chq in the mail for $500K – its a start to moving fwd, hopefully!
Comment by david — March 4, 2016 @ 6:51 am
GBB raised $750K at 5 cents w 2yr 10 cent wts. could be a sweet deal if he gets his CA and plans work out as discussed regarding his mining plan
Comment by david — March 4, 2016 @ 7:02 am
Cmon Guys, don’t be so hard on GGI. Look at how many news releases regarding to ground work and drilling they have posted.
Comment by George — March 4, 2016 @ 7:03 am
probably Chet – I heard he will not drill until this court ruling is complete.
Comment by dave — March 4, 2016 @ 7:10 am
Doubleview Capital receives $533,502 in tax refunds
2016-03-04 09:34 ET – News Release
Mr. Farshad Shirvani reports
DOUBLEVIEW RECEIVES $533,502.73 IN REFUNDS
Doubleview Capital Corp. has received $533,502.73 from the British Columbia mining exploration tax credit and GST (goods and services tax) refund programs. The British Columbia mining exploration tax credit program provides benefits to individuals, partnerships and corporations doing British Columbia grassroots mining exploration and is equal to 20 per cent of eligible expenditures (30 per cent for mountain-pine-beetle-affected areas). Eligible expenses are defined as those costs incurred in British Columbia for the purpose of determining the existence, location, extent or quality of a mineral resource in British Columbia.
OK DBV is not broke . Drill Farshad DRILL
FROM STOCKWATCH
Doubleview received $203,108.80 for 2013 and $281,812.57 for 2014 under the British Columbia mining exploration tax credit program. The company’s GST refund was $48,581.73.
Doubleview will apply available funds received to further drilling and other exploration of its Hat project gold-copper porphyry property located in northwestern British Columbia and to general corporate expenses.
We seek Safe Harbor.
© 2016 Canjex Publishing Ltd. All rights reserved.
Comment by Lester — March 4, 2016 @ 7:22 am
Looks like DBV will have lots to talk about at PDAC . As Farshad indicated in that conference call , funds were being made available and at that time was the hold up on processing the cores and getting drilling . Rest assured the new drill equipment is on it’s way or already at Telegraph Creek waiting to be “coppered in ” . Don’t be to surprised to see Tahltan Drilling manning the new equipment as they were not the ones that caused the blockade and weren’t very happy about the Chad Day’s blockade.
Never ever count Farshad Shirvani out. Drill Farshad DRILL.
Comment by Lester — March 4, 2016 @ 7:36 am
Chet Baker , I doubt the court injunction will be an issue as far as proceeding work at the Hat . I’m thinking CD has a big kettle of fish brewing in his coming reelection, he has a lot of unhappy people because of his blockade and I doubt he will be interfering with the field work of GGI PGX or DBV .
Comment by Lester — March 4, 2016 @ 7:50 am
If you are right Dave, then we could be waiting a while longer for DBV’s new application to wind it’s way through the courts…we might not see drills turning for months if that’s the case…
Comment by ChetBaker — March 4, 2016 @ 7:57 am
I agree Lester, I’m wondering about what Dave is saying; that Farshad won’t drill until he obtains the injunction. I’m concerned if that’s the case that it will take months to go through the courts – assuming there isn’t any appeals, etc.
Comment by ChetBaker — March 4, 2016 @ 8:00 am
ChetBaker , DBV has every right and all permits in place and an archeological study done to go drilling . The court injunction is to block CD from further interference and to seek damages. Chad Day is the one out of place but it worked for him at Red Chris why not do it anywhere else .
Comment by Lester — March 4, 2016 @ 9:32 am
Lester I agree regarding DBV. I think this revised injunction if approved will just assure CD stays away and perhaps more importantly it should assist the litigation case. Lets face it this CD scenario caused financial harm to DBV and although to be honest given how the markets and gold sentiment specifically has now turned positive, this delay may end up being a blessing in disguise. At least that’s the way I am choosing to look at it since I can’t change what has happened. I would still not be surprised to hear more news next week during PDAC
Comment by Jamie — March 4, 2016 @ 10:44 am