TSX Venture Exchange, Gold & Overall Markets
Capping a strange week of trading across various markets from Gold to the British pound, the Venture showed strength Friday and stayed in positive territory the entire day despite a more than $20 reversal to the downside in Gold as the metal tumbled as low as $1,241. That was a sign that Gold would probably recover and it did, finishing $17 above its morning low and snapping an 8-session losing skid with a slight gain for the day of $2 an ounce.
For the week, the Venture lost 19 points or 2.4% to finish at 781. Gold fell 4.4% while the TSX Gold Index lost nearly 13%. That kind of outperformance by the Venture should give Gold bugs a lot of comfort as the Venture, a reliable leading indicator, simply would have performed much worse if bullion were about to fall off the cliff.
While the Venture has been in a consolidation phase since its mid-August high of 848, keep in mind that in each and every bull market year going back to 2003, the Index has climbed powerfully from its 3rd quarter close to year-end. Will the anticipated gains in Q4 be spread out over October, November and December, or are we headed toward some sort of remarkable surge during the last half of December after a much anticipated final Fed meeting of the year? Anything is possible, especially during an unpredictable and unconventional U.S. election season.
Today’s Week In Review and A Look Ahead includes the best performers on the BMR Top Opportunities List over the last 3 weeks including Orca Gold (ORG, TSX-V) which enjoyed a surge in volume and price in recent days as Ross Beaty bought 13 million shares in the open market for a 12.4% interest in the company…
Click here to read the rest of today’s Week In Review And A Look Ahead, and learn more about where the Venture is headed in the coming weeks, with a risk-free Pro, Gold or Basic subscription featuring a 100% money-back guarantee, or login with your username and password.
https://blog.smartmoneytrackerpremium.com/2016/10/bull-markets-corrections.html
Comment by STEVEN1 — October 11, 2016 @ 4:41 am
CLEAN COMMODITIES CORP. MOBILIZES EXPLORATION CREWS AT LABRADOR TROUGH PROJECT
An inaugural phase one field exploration program is under way at Clean Commodities Corp.’s Labrador Trough Ni-Cu-PGE (nickel-copper-platinum-group-element) project in Quebec.
“With productive late-season weather conditions continuing at our Labrador Trough Ni-Cu-PGE project we are pleased to have an inaugural exploration program under way with crews already on the ground at the project. The helicopter-supported exploration program consists of multiple field crews focused on sampling and evaluating our large-scale project,” stated Ryan Kalt, chief executive officer of Clean Commodities.
Subject to the results of the field program, the corporation intends to review potential opportunities and financing options to conduct an airborne VTEM (versatile time domain electromagnetic) survey on some or all of the corporation’s Labrador Trough Ni-Cu-PGE project during 2017.
The corporation’s Labrador Trough project is adjacent to and surrounds both the Huckleberry and Sequoi projects being advanced by Northern Shield Resources Inc.
The corporation engaged Dahrouge Geological Consulting Ltd. to perform the current exploration program.
Comment by Jon - BMR — October 11, 2016 @ 5:19 am
” A “sleeper” for the week ahead?…pay attention to Garibaldi Resources (GGI, TSX-V) which has been too quiet for too long…”
Well, we will see if Steve can keep his word from last week , to put out 2 or 3 NRs over the next bit to update about the work and props we do and don’t know about, now that his geos have been to town and gone over the NR’s
Comment by david — October 11, 2016 @ 5:52 am