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1. Gold hit a new 7-year high overnight and is trying to hold most of those gains, up $20 an ounce at $1,572 as of 7:00 am Pacific…tensions in the Middle East are running high after the killing of terrorist and top Iranian general Qasem Soleimani by the United States late last week…the U.S. detected a heightened state of alert by Iran’s missile forces as President Trump warned the U.S. would strike back, “perhaps in a disproportionate manner,” if Iran attacked any American person or target…meanwhile, Iraq’s parliament yesterday recommended all foreign troops be ordered out of the country after the U.S. killing of Soleimani and an Iraqi militia leader (another terrorist) in a drone strike on a convoy at Baghdad airport…Silver has jumped 26 cents to $18.28 as it tries to gain traction above $18…base metals are flat with Copper, Nickel and Zinc trading at $2.78, $6.20 and $1.05, respectively…Palladium has hit the $2,000 level again…Crude Oil has added 42 cents a barrel to $63.47 while the U.S. Dollar Index is down one-tenth of a point at 96.71…the Labor Department releases the December jobs report on Friday…in November, the U.S. economy added a whopping 266,000 jobs and the unemployment rate slipped to 3.5%, matching September as the lowest level since 1969…economists surveyed by the WSJ forecast non-farm payrolls grew by 150,000 in December with the jobless rate holding steady at 3.5%…
2. CNBC used hedge fund analytics tool Kensho to analyze financial markets after 20 crisis events in the Middle East over the last 3 decades, including the attacks on Oil facilities in Saudi Arabia last September…the analysis found that Crude prices see a positive change more than 80% of the time in the month following major events…Gold and stocks followed as the next most successful asset classes…looking at a 3-month horizon, stocks and Oil rallied further while safe haven assets gave up their gains…Treasurys and the dollar post negative returns over this time frame, on average, while Gold prices are actually flat…
3. Wallbridge Mining (WM, TSX) has cut 32.2 g/t Au over 9.7 m in drill hole FA-19–094 from the Lower Tabasco zone at its 100%-owned Fenelon Property…this hole, together with previously reported intersections of 22.7 g/t Au over 48.01 m (in hole FA-19–086 located 100 m up-dip), 20.9 g/t Au over 8.54 m (in hole FA-19–52 located 110 m up-dip to the southeast) as well as visually strong mineralization with assays pending in FA-19–103, have defined a high-grade core of the lower Tabasco Zone…in addition, the first 2 deep holes on the Lower Tabasco Zone both intersected the zone, confirming its continuation to a vertical depth of 850 m…the 2 holes are 240 m apart along strike, and over 200 m below intersections in holes #92 and #96…hole FA-19–099, the visual description of which was reported in Wallbridge news release December 3, returned 5.06 g/t Au over 15.15 m…hole FA-19–104 returned a 26-m core length intersection with visible Gold and sulfide mineralization (assays pending)…“These latest results confirm the presence of a high-grade core to the Lower Tabasco Zone, which is currently defined by three holes 80 to 100 m apart, all with grades of greater than 20 grams per tonne Gold“, stated Marz Kord, President & CEO of Wallbridge…“In addition, our first 2 deep holes have greatly expanded the known limits of the Lower Tabasco Zone. A major focus of our fully funded 2020 drill program of 100,000 to 120,000 m will be to complete the infill drilling necessary to bring the Lower Tabasco Zone to resource stage by early 2021“…WM is up a penny at 91 cents as of 7:00 am Pacific…
4. Ascot Resources (AOT, TSX-V) has released further high-grade results from drill holes completed at its Silver Coin deposit, part of its Premier Gold Project near Stewart south of the Eskay Camp…highlights of 30 holes included 6.69 m grading 30.8 g/t, 3.20 m @ 29 g/t, and 4.59 m @ 12.2 g/t…Silver Coin is located approximately 5 km north of the Premier mill and 800 m south of the Big Missouri deposit…in 1991, the Premier mill processed 102,500 tonnes of Silver Coin ore at a grade of 8.88 g/t Au…Ascot acquired Silver Coin in 2018 and is currently preparing a mine plan using side hill access…Derek White, President and CEO, stated, “This concludes results from our 2019 drill campaign at Premier. This last set of holes produced some outstanding results for the company with thick high-grade intercepts. Overall at Silver Coin we reported 34 individual intercepts over 10 g/t Gold, including one exceptional 273 g/t Gold interval. The new intercepts underpin a better understanding and predictability of the geological model and provides Ascot a stronger base to work from for the development of the forthcoming updated resource statement and feasibility study”…Ascot will be holding a Webinar this Wednesday at 1:00 pm Pacific…Ascot, which has advanced sharply since the beginning of December, is up 2 cents at 95 cents through the first 30 minutes of trading with the stock testing resistance at the top end of a downtrend line on its long-term chart…
5. Amex Exploration (AMX, TSX-V) has mobilized a third drill rig to its 100%-owned Perron Property near Rouyn-Noranda as part of its continuing fully financed 100,000-m drill program…the third drill will be used to test regional exploration targets along strike to the east and west of the current 3.2-km-long corridor of known Gold mineralization (Gratien Gold zone to Eastern Gold zone)…approximately 20,000 m of drilling will be dedicated to testing unexplored or under-explored structures within the Beaupre rhyolite block, which hosts the Eastern Gold zone, the Gratien Gold zone, the Central polymetallic zone and the Grey Cat zone…the Beaupre block, a highly prospective package that is known to host Gold at the Perron Property, was the subject of a detailed drone magnetic survey flown late last year….Amex expects to announce the interpretation of the drone survey and new drill targets shortly…CEO Victor Cantore stated, “The third drill will be testing areas that have never seen or have seen only very limited drilling in a package of rocks that yielded exceptional Gold results for Amex in 2019. Two additional drills are currently on site and will continue to explore and define the Eastern Gold zone, Grey Cat zone and Gratien zone. Approximately 60,000 of our ongoing 100,000-m program has yet to be drilled. With the completion of our two recent financings of approximately $13 million, the company is very well capitalized for an aggressive exploration program”…AMX is off 2 pennies at $1.57 as of 7:00 am Pacific…
6. The Dow has fallen another 131 points in early trading today with concerns focussed on the Middle East…the TSX, helped by rising Gold and Oil prices, is unchanged while the Venture has added 1 point to 589 after its 8-session winning streak was snapped Friday…Canada Cobalt (CCW, TSX-V) is up a penny at 67 cents…drilling resumes today from surface at CCW’s high-grade Silver discovery in Northern Ontario’s Gowganda Camp, 30 km south of Alamos Gold’s (AGI, TSX, NYSE) Young Davidson Gold mine and 75 southwest of Kirkland Lake…more assays are pending from CCW’s first 4 wedge holes, including the first hole that cut a spectacular 1,476 oz/ton (>50,000 g/t) over 0.60 m within 1.5 m grading 605 oz/ton (assays pending for the remainder of a strongly mineralized 4.65-m intercept)…the massive native Silver vein shoot has been discovered at depth immediately adjacent to 3 past producing high-grade Silver mines…meanwhile, the Archean rocks above and below the Nipissing diabase (gabbro) hosting the Silver are prospective for high-grade Gold…some quality non-resource issues are picking up steam to begin the first full trading week of 2020…Score Media & Gaming (SCR, TSX-V) is up 3 cents to 84 cents as it closes in on a new 52-week high…Antibe Therapeutics (ATE, TSX-V) has added a penny to 46 cents while Bee Vectoring Technologies (BEE, TSX-V) is threatening to break out above mid-40’s resistance, unchanged at 46 cents…
7. Newmont Goldcorp (NGT, TSX; NEM, NYSE), the world’s biggest Gold-mining company, says it’s focused on returning capital to shareholders as a new decade begins…the company this morning announced a plan to increase its dividend by 79% to $1 per share…the increased dividend would become effective upon approval and declaration of the first-quarter dividend in April…“We are pleased to announce a planned increase to our annualized dividend by 79% to one dollar per share and will continue demonstrating our disciplined approach to capital allocation and the confidence we have in our business to deliver substantial future cash flows and returns for shareholders,” stated Tom Palmer, President and CEO…“Our first-quarter dividend will offer investors a highly competitive dividend yield and enhanced returns from owning shares of the world’s leading Gold company”…
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Hi BMR team,
How will the warrants that are in the money be effecting the share price of CCW. The volume is looking great but seems there are allot of warrants at .55cents in the money now.
Thanks
Comment by Joshgs — January 6, 2020 @ 7:08 pm
Those 55-cent warrants aren’t even touchable until March, Joshgs, as they were part of the mid-November PP (4 million of them, which isn’t a lot, and that PP was tightly structured among the right investors).
Other than that, just a few 90-cent warrants and the 2.5 million 50-cent warrants from the Sept. 2019 PP which won’t be touched until later I am sure (the other 50-cent warrants from Jan. 2018 PP expire in a few days – fully exercised, no doubt, for some nice extra cash for CCW).
In short, limited warrant overhang and all warrants in tight hands because of how PP’s have been handled, different from most companies.
Also, CCW is in a bonafide discovery situation and literally any hole at this point could be the trigger that sends this stock thru the roof. Warrants will not be an impediment.
Comment by Jon - BMR — January 6, 2020 @ 7:43 pm
Thanks Jon,
Good to know on the warrants as I wasn’t sure if they qualified for the same 4 month hold. I’m greatly looking forward to the next months on all the developments on this play.
Comment by Joshgs — January 6, 2020 @ 9:34 pm
What we saw this morning on CCW, Joshgs, was a warrant cross as I was one of the open market buyers at 68 cents…I’m hearing all the warrants that expire Jan. 12 at 50 cents are being exercised, and any selling related to that is now out of the way (this morning was the last batch)…CCW is fully cashed up and ready to really rock at Castle (and Beaver, by the way)…
Comment by Jon - BMR — January 7, 2020 @ 8:43 am
Hi Jon,
I guess we should expect some news very soon on CCW! But what about GGM? I’m seeing interesting large crosses and trades the last few weeks with them as well!! Could you comment if this is related in anyway with CCW? And if so could we see GGM go for a run here as well? Thx
Comment by Alec — January 7, 2020 @ 11:24 am
Jon, you still buy more of CCW ? If you don’t mind telling us, how many shares do you own? I think subscribers like to know how much you “walk the talk”. 🙂
Comment by Sylvain — January 7, 2020 @ 3:00 pm
Check out tonight’s update, Sylvain!
Comment by Jon - BMR — January 7, 2020 @ 3:05 pm
Beautiful!!! Looking forward to it.
Comment by Sylvain — January 7, 2020 @ 3:16 pm
Gold, Silver soaring: Tens of missiles fired by Iran at two Iraqi bases housing U.S. and coalition soldiers, including 1 base that President Trump visited over the holidays…apparently surface-to-surface ballistic missiles, a major escalation after the U.S. took out terrorist Soleimani…first reports say no U.S. casualties but some Iraqi casualties…
An attack against an American base is an attack against the United States of America – Trump has to respond with force…
Comment by Jon - BMR — January 7, 2020 @ 4:25 pm
Hi Alec,
Re: GGM, I I think there is increased speculation that there will be a buy-out of GGM this year. GGM is now targeting high grade gold, and find it actually. Frank’s is very open about his wish to sell GGM, at a cost of around 60$ to 120$ per oz in the ground, not based on the share price.
Another point that makes this sell most likely is that the same team, more or less, is running the show at CCW. With the increased activity at CCW, I think it makes sense to let GGM go. The increase in gold price will make the GGM assets interesting.
My two cents.
Richard
Comment by rgiroux — January 8, 2020 @ 12:28 am
Thanks Richard. Certainly this would be very interesting.
Comment by Alec — January 8, 2020 @ 6:52 am