Gold has hovered between $1,452 and $1,464 so far today…as of 7:50 am Pacific, the yellow metal is unchanged at $1,459…Silver is just 4 pennies lower at $39.47 while the U.S. Dollar Index is essentially unchanged at 75.60…the sharp jump in Silver prices during 2010 was the result of big increases in both investment and industrial-fabrication demand, according to the World Silver Survey 2011 released by the Silver Institute today…global Silver investment rose by 40% last year to 279.3 million troy ounces, said the report, for which data was compiled by the consultancy GFMS…this resulted in a net flow into Silver of $5.6 billion, almost double the amount from 2009…meanwhile, total fabrication demand rose 12.8% to a 10-year high of 878.8 million ounces in 2010, led by industrial uses…one of our favorite Silver plays continues to be Great Panther Silver (GPR, TSX) which has been under some selling pressure lately despite the big jump in Silver prices…it’s up slightly this morning to $3.88 with a financing expected to close next week…GPR has excellent technical support around $3.50, in the vicinity of its 50-day SMA, but that kind of a bargain is probably wishful thinking…Wildcat Silver (WS, TSX-V), which we’ve mentioned here recently, continues to perform well with impressive drill results from its flagship Hermosa Project in Arizona…WS got as high as $2.70 in early trading but has since pulled back to $2.52 for a loss of 10 cents…we suggest investors also perform due diligence on Levon Resources (LVN, TSX-V) which is up 8 pennies this morning at $2.05…the number of investors with a bearish outlook plunged by more than a third in one week according to a widely followed investor survey released yesterday, the largest amount of bears to throw in the towel in this poll since 2003…Middle East turmoil, debt problems in many parts of the world, a disaster in Japan and even a potential end to the Federal Reserve’s quantitative easing program has failed to keep the market down…bears collapsed to just 15.7 percent of those surveyed from a 23.1% part of the pie just one week ago, according to the weekly survey of financial newsletter writers by research firm Investors Intelligence…that 32 percent drop is the biggest in a single week since a 37 percent switchover in 2003, according to Bespoke Investment Group’s analysis of the Investors’ Intelligence data…bullish investors now make up 57% of the total pie in this week’s survey but that can also be a danger sign, not necessarily for the near-term but for later this year…at the October, 2007, top, the bull reading was 62%…U.S. jobless claims fell slightly more than expected last week as the American labor market continues to firm…the European Central Bank has raised interest rates by 25 basis points to 1.25%, announcing its first hike since July, 2008, to counter firming inflation pressures in the 17-country euro zone…The ECB is concerned that firm oil prices, near two-and-a-half year highs, could boost inflation expectations and financial markets are pricing in two further quarter-point rises in interest rates this year to follow today’s move…the rate decision came less than 24 hours after Portugal announced it was seeking European Union support for its debt woes, a decision long expected by financial markets…The Bank of England, meanwhile, has held interest rates at a record-low 0.5% despite a surge in inflation…most economists view Britain’s economic recovery as too fragile to withstand higher rates at the moment…Global food prices came off record highs in March, falling for the first time in eight months following unrest in the Arab world and Japan’s earthquake, but new increases are in sight as demand grows and supplies tighten, according to the UN Food and Agriculture Organization…the CDNX is up another 15 points at 2378…Adventure Gold (AGE, TSX-V) released good results from two more holes this morning from its recently completed Phase 1 drill program at the Pascalis Colombiere Gold Property near Val d’Or…hole #17 intersected four separate zones of mineralization at depths ranging from 6 metres to 187 metres (5.7 g/t Au over 4.3 metres, 4.6 g/t Au over 5.7 metres, 12.9 g/t Au over 8 metres, and 5 g/t Au over 6.1 metres)…hole #16 intersected 5.5 g/t Au over 5.9 metres…results from five more holes are pending…follow-up drilling will commence once all assays have been received and reviewed…a 43-101 resource calculation is planned for later this year…AGE is currently off 2 pennies at 70 cents…it’s chart is a picture of beauty so this is a stock to watch closely…at BMR, we’ve had some success identifying significant discoveries at early stages and we’re quite intrigued by what we see developing at White Tiger Mining’s (WTC, TSX-V) Marshall Lake Property in northern Ontario…Marshall Lake is an advanced-stage copper, Gold and Silver project that several majors have worked on over the years…on Tuesday, as we reported here, the company announced visuals from hole #21 (“longest and most continuous mineralized drill intersection that has been completed on the Marshall Lake property to date”) which suggest this hole has the potential to be stellar…on speculation alone, trading in this stock could get quite interesting over the next week or two (rush assays from ALS Chemex)…WTC is currently up 6 cents at 57 cents after climbing as high as 61 cents this morning (it hit 67 cents Tuesday)…what we find very encouraging from a technical perspective is that the stock has closed above its Tuesday opening price of 48 cents (it gapped up from 35 cents) for two consecutive days…WTC has only 15 million shares outstanding…the heavy volume Tuesday and Wednesday has likely moved stock from weak hands into strong hands as WTC, up until now, has had little liquidity in its nearly 4-year existence…the President and CEO is Ron Coombes (Doug Mason is the Chairman)…both are industry veterans with successful track records…Gold Bullion Development is up half a penny at 44 cents…John is working on an updated chart for GBB…Currie Rose Resources (CUI, TSX-V) is looking much healthier from a technical standpoint as the company gears up for the start of its 2011 exploration program in Tanzania…CUI closed yesterday at 17.5 cents and is unchanged so far this morning on very light volume…
Hello John
Do you have an update on CQX?? I noticed that RIC is doing quite well. I understand that CQX property is next door to RIC.
Thank You
Comment by John — April 7, 2011 @ 7:00 am
Look forward to see the gbb chart, thank you Jon for precision on the drilling in the east..1000m east of hole 98 is not even on the drill map yet , so you were right about the fact that they’re not drilling aukeko yet …If i get this right they are probably drilling hole 11-254 in progress then the short term holes around there are in the way going east to around hole 98 or aukeko ( hole 11 -25, 11-1q,11-1r,..) they probably have trails in the woods leading to one another, those drill are on tracks so they can manage.
Comment by steve — April 7, 2011 @ 7:44 am
where can i find a chart on WTC ?, google finance doesnt show anything simply says private.
Comment by Gabriel — April 7, 2011 @ 8:28 am
I normally use Stockwatch, of course u can also try Stockhouse…
Comment by Jon - BMR — April 7, 2011 @ 8:31 am
John will be working on a CQX updated chart soon…….they are tied on to Richmont’s Wasamac deposit (the structure dips northward onto Cadillac’s claims)…..we’ll have more on Cadillac probably tomorrow…..
Comment by Jon - BMR — April 7, 2011 @ 8:33 am
For those who are interested about Seafield Ressources (SFF-TSX-V), go to Small Cap Power to watch a interview with M.Roodenburg, CEO…
Comment by Sylvain — April 7, 2011 @ 8:50 am
Hi Bullmarketrun!
What are your opinion regarding Abcourt in the near future? (Coming months…)
Best regards
Marc
Comment by Marc — April 7, 2011 @ 9:43 am
Thank you BMR !
Was a bit late in reading your blog today, but when i read your paragraph on WTC, decided to
try a quick trade. Bought at 0.61, immediately placed a sell order for 0.67 & the rest is
history. In 10 minutes we went from an empty table to food on the table (joking).
R !
Bert
Comment by Bert — April 7, 2011 @ 9:58 am
Anyone know what is going on with GBB? not that I’m complaining
Comment by George — April 7, 2011 @ 9:59 am
Gabriel there is also at Big Charts site…
They have recently improve there advance chart
Comment by Martin — April 7, 2011 @ 10:55 am
It’s hard not to love Abcourt given the fundamentals regarding their two major properties…patience required, but there’s no doubting the potential with this one……possible takeover candidate down the road…
Comment by Jon - BMR — April 7, 2011 @ 11:01 am
GBB… 50 cents …. still very cheap… it will move back to 70 cents level…. The players have come back now… but watch out for the high fluctuations… patience is the golden rule to success in this stock.
Comment by Theodore — April 7, 2011 @ 11:18 am
GBB’s 20-day has reversed to the upside….as we pointed out earlier this week, that was imminent and a bullish technical development….
money coming back into the junior golds – look at the trading leaders on the Venture today….this could be quite a ride…..John is working on a new GBB chart….
Comment by Jon - BMR — April 7, 2011 @ 11:26 am
White Tiger Mining – WTC Update!!
After getting as high as 81 cents, trading has been halted on this security. Will be interesting to see what happens next!!! 🙂
Comment by Raj — April 7, 2011 @ 11:26 am
GBB was added to Casey’s International Speculator’s portfolio today. Pretty good write up too. All the usual stuff and they looked at every junior operating in Quebec and only picked GBB. Explains the big volume and should generate plenty of interest.
Comment by Patrick — April 7, 2011 @ 1:58 pm
Should be extremely interesting! (Re: WTC)
Comment by Jon - BMR — April 7, 2011 @ 2:00 pm
Hello all-
On GBB website new corporate update, dated april 7th.
Comment by Bob — April 7, 2011 @ 2:23 pm
Yes, GBB should get a rise, like alot have been predicting! Maybe the correction is over now and Casey does seem to pull some weight? I couldnt help but notice that Casey also picked Osisko before! Now Brent Cook never liked GBB or Osisko! Pitty those that got cold feet and sold a little too early….ouch?
Comment by alec — April 7, 2011 @ 4:13 pm
Nice to see a powerful move today on very strong volume. We’ll have an updated chart in the AM.
Comment by Jon - BMR — April 7, 2011 @ 6:01 pm
From the Casey report on GBB, just shows you how good the info we are getting from BMR is for FREE, BMR knows their stuff and we are extemely blessed to have these guys giving us their knowledge for FREE
If all we had to go on were this conceptual estimate, we’d guess that the official 43-101-compliant resource estimate due out this summer would probably end up being smaller. The mineralization is concentrated in a number of parallel structures, and we’re not sure how much of it would fall within one pit, nor how internal waste between the zones might push the average grade down. But with the drilling already having doubled the strike length – and with a neighboring company having found gold at surface on strike in both directions from the main mineralized area at Granada, the odds look exceptionally high that GBB will be able to report a respectable new multi-million-ounce deposit to the market in a few months.
If this happens, GBB shares could easily double or triple on the news. If the neighbors do drill into more gold on strike, that will have big implications for GBB. (And we’ll want to have a look at the neighbors, Adventure Gold, V.AGE, as well.)
Comment by GREG H — April 7, 2011 @ 10:57 pm
Looks like GBB is meeting some resistance at .54 (50 day SMA). Good volume so we could possibly break through.
Comment by George — April 8, 2011 @ 7:51 am
News Just Released for Visible Gold
‘NI-43-101 INFERRED RESOURCE OF 163,800 OUNCES OUTLINED AT VISIBLE GOLD MINES’ STADACONA-EAST GOLD PROPERTY’
Comment by PaulN — April 8, 2011 @ 7:59 am
Above, GREG H. quotes Casey as saying ‘a neighboring company having found gold at surface’- anybody know which company he’s referring to here?Thanks.
Comment by dave — April 8, 2011 @ 8:02 am
Nice news from VGD……in addition to Stadacona, notice they’re now drilling near the Vantex Moriss Zone Discovery to be followed by drilling adjacent to Richmont’s Wasamac deposit….these guys are getting very aggressive….results from Silidor drilling coming soon…….plus of course they’re acquiring a 50% interest in Agnico-Eagle’s Joutel Property…….textbook technical buy signal with a reversal now in the 50-day SMA….
Comment by Jon - BMR — April 8, 2011 @ 8:09 am
dave
I am pretty sure he is referring to adventure gold, they are mentioned in the casey report, i will try to find it later when i have more time and post it here for you.
thx greg
Comment by GREG — April 8, 2011 @ 11:11 am