Happy Thanksgiving to our American friends!…U.S. markets of course are closed today, and Canadian markets are slower as a result…Gold has traded in a narrow range between $1,070 and $1,075 so far today…as of 9:30 am Pacific, bullion is flat at $1,071…Silver is 12 cents higher at $14.26…Copper is up 4 pennies at $2.11…Crude Oil is off 52 cents at $42.52 while the U.S. Dollar Index has added about one-tenth of a point to 99.83…
Premiums on the Shanghai Gold Exchange, a proxy for demand in top consumer China, were trading at a healthy $5-$6 an ounce today vs. $3-$4 at the beginning of the month – a sign that physical demand in that country is picking up on weaker prices…China’s net Gold imports from main conduit Hong Kong fell in October from a 10-month high reached in the previous month, data showed today…
Analysts at Capital Economics say they expect total imports by China and India to pick up in the coming months as low prices prompt additional buying. “The price of Gold strengthened in October and the Chinese price has been relatively high compared to international markets for the past few months,” they stated. “The higher prices were probably a key factor driving October’s lower import numbers as the Chinese market is particularly price-sensitive. However, buying may well recover soon, as prices have fallen sharply so far in November and we expect demand to rise in the run-up to Chinese New Year (which is in February 2016).”
Meanwhile, 3rd quarter buying in India is likely to fall to the lowest level in 8 years, hurt by poor demand and back-to-back droughts that have slashed earnings for millions of farmers…however, the bigger picture is that India’s imports for January through October are still 138 tonnes higher than the corresponding period last year…Capital Economics expects Chinese demand to rise by 5% next year and Indian buying to increase by 6%…
While stockpiles are high and rising in the United States and many European economies, in China, commercial Crude Oil stocks at the end of October were down 4.4% from the previous month in their biggest drop since at least 2010, the official Xinhua News Agency reported today…
The Globe and Mail reported this morning that Lucara Diamond (LUC, TSX) CEO William Lamb wants more than $60 million for the world’s 2nd-biggest diamond (he’s apparently already turned down an offer for $40 million)…Lucara announced the discovery of the 1,111-carat gem-quality diamond last week…the discovery sent shock waves through the $80-billion diamond industry…the type-IIa stone, just smaller than a tennis ball, is the biggest unearthed since the 3,106-carat Cullinan gem found in South Africa in 1905…
Today’s Equity Markets
Asia
Asian markets were mixed in a quiet trading overnight…
Europe
European equities were up strongly today, hitting 3-month highs, as investors anticipated more stimulus from the European Central Bank (ECB) when it meets next week…
North America
With U.S. markets closed, it’s a quiet day on the Canadian side…the TSX is up 45 points at 13449 as of 9:30 am Pacific…the Venture, meanwhile is up 2 points at 521…Canopy Growth (CGC, TSX-V) is today’s volume leader, gaining 19 cents at $2.64 after climbing as high as $2.75 (updated chart in today’s Morning Musings)…
In today’s Morning Musings…
1. The Venture’s 39-week cycle chart points to a December turnaround as seasonal strength nears…
2. One of the most attractive Gold producers with high-grade and an explosive chart…
3. Venture company raises $18 million as it triples the size of its indicated resource at Sonora Lithium Project…
4. A junior trading for a penny that could soon come back to life as a drill program begins…
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…
A junior trading for a penny (or .015). I would guess that V.TYE (Troymet Exploration) may be the one.
Comment by Andrew — November 26, 2015 @ 10:17 am
Good to see you covering ABR again… What about AIX, with recent news: “Alix Acquires 22,625 Hectares and commences work Adjoining Bacanora’s “Sonora Lithium Project” Located in Sonora, Mexico” and “Alix and Lithium Australia Sign Proposal for Joint Development of Lithium Extraction Technology”?
With the recent roll-back and financing, maybe things will get moving again for AIX?
Richard
Comment by rgiroux — November 26, 2015 @ 10:32 am
I also have heard plenty of interviews in the past with regoci. Even audio sounds very upbeat, very little hum’s and ahh’s to his interview, sounds like to me he’s busting at the gut to tell all, but like us has to wait for the lab, you mention hole 3, kinda hope all the holes are game changing.great work guys…..
Comment by Tombc — November 26, 2015 @ 10:33 am
Dbv down to 12 cents..wtf every single time I pick up more shares it drops lol bad luck I guess
Comment by Sameer — November 26, 2015 @ 12:34 pm
Who buys 19 shares or put 1500 out there at .155 like in ggi for example. I really don’t get it.
Comment by Kalkan — November 26, 2015 @ 1:02 pm
Sameer – I meant to post the other day that support was at .12 on dbv and it was probably going there. Sorry, got caught up posting on all the ones that were moving some.
Don – I really really like CST. I think they are going places.
Comment by dave — November 26, 2015 @ 2:57 pm
Kalkan, looks like 79 house bought 1019 shares at 1:03 pm, topping up? I think the question you should ask is, who the heck would sell 19 shares, really! Anon sold 1500 at the close, must be broke…
Comment by Tombc — November 26, 2015 @ 3:08 pm
DBV – strong support at .12, and then semi strong resistance at .14 and strong resistance at .17
GGI – semi strong support at .15 and .14, then very strong support at .10 and strong resistance at .17
EQT – very strong support at .10 and semi strong resistance at .12 and strong resistance at .14
Comment by dave — November 26, 2015 @ 3:13 pm
GGI – We know the drill hit something fascinating as per Regoci’s comments, drill core pics and updates to date.
EQT – We don’t know if they hit anything.
I predict we see results of both next week. Will one of them rock the market? – or both?
I am really really really eagerly waiting for results!
Comment by Dan1 — November 26, 2015 @ 5:05 pm
Dave, Happy Thanksgiving! Really happy to hear your personal situation was resolved. Enjoy your post, your thoughts on different stocks and TA.
Cheers!
Comment by Dan1 — November 26, 2015 @ 5:11 pm
@Tombc – Ok, I’m from Sweden so I can’t really see who buys or sells. And I’m also 20 minutes behind, quite annoying
Comment by Kalkan — November 26, 2015 @ 9:52 pm
Jon, do you know under what conditions the GGI options/warrants can be forced to be exercised?
Comment by Tom UK — November 27, 2015 @ 6:05 am
A nice drill hole, Tom (lol). And Regoci will deliver it. You can’t “force” options to be exercised and there is no official trigger mechanism on the 30-cent warrants.
Comment by Jon - BMR — November 27, 2015 @ 6:45 am
Well guys…we have been patiently waiting and I have a feeling that next week will be the week for GGI. It’s hard to wait but in this case I think it will be really worth it. Hopefully gold is bottoming here as well and will soon reverse its trend….DBV starting up…and assays. Like the BMR guys say, perfect storm.
Comment by weatheritout — November 27, 2015 @ 6:58 am
19 shares of GGI – could be an estate or from a precursor to GGI, and they just decided to clean out the acct.
GGI options = 2.9MM @.10, 525k@.20, 500K@.30, 1.7MM@.35 and 2.9MM wts at .30 have till june 2016
Comment by david — November 27, 2015 @ 7:07 am
Ah thanks Jon, I seem to remember that Farshad was able to trigger some warrants on the flow through issue when the SP on DBV had been above a certain level for 10 ? consecutive days.
A flow through financing after some drill results would make sense for GGI IMO.
Comment by Tom UK — November 27, 2015 @ 7:09 am
G’morning Jon. What do you think of Pilot Gold (PLG)? Seems to have stabilized around 0.275$, and any good news could breakout the downtrend.
Comment by rgiroux — November 27, 2015 @ 7:17 am
Hi Jon, I wonder why HGU.TO is halted to trade right now !
Comment by Sylvain — November 27, 2015 @ 7:19 am
Looks like some DBV longs are displeased with Farshad. Overpromises, underdelivers? Does that mean no drilling anytime soon on the Hat?
Comment by ConcernedCitizen — November 27, 2015 @ 7:19 am
I got my answer! Forget the comment no.14 Jon and have a nice day!
Comment by Sylvain — November 27, 2015 @ 7:34 am
As we’ve been saying all along, Sylvain, the last week or so, we’re seeing a perfect set-up for a strong rally in both Gold and producers…that makes the HGU a particularly attractive trade IMHO…
Comment by Jon - BMR — November 27, 2015 @ 8:08 am
EXX is on the move….should be a good week next week.
Comment by John - BMR — November 27, 2015 @ 8:53 am
ABR st sarts drilling at Buckingham
Comment by Guy Delisle — November 27, 2015 @ 8:56 am
Didn’t think I’d see ggi at 0.145, today, top up, thank you.
Comment by Tombc — November 27, 2015 @ 9:02 am
Just like last Friday’s gift, Tombc. And get ready for some fireworks next week, starting with our report Monday.
Comment by Jon - BMR — November 27, 2015 @ 9:09 am
Lol, yes Jon, I’m ready.
Comment by Tombc — November 27, 2015 @ 9:22 am
John, EXX move due to CRS flow rates coming Monday. I hear they are good, but then again this is an oil play. I’m anxious to see the rates
Comment by dave — November 27, 2015 @ 9:37 am
EXX has been looking good for a while, Dave, despite its recent pullback.
Comment by Jon - BMR — November 27, 2015 @ 9:50 am
yes, I put small position in after open at .09 – if flow rates are good, .15 easy, if not I don’t lose that much.
Comment by dave — November 27, 2015 @ 10:07 am
Our markets closed at 1 p.m. here. I threw couple grand in it. Saving my money for a new one next week, finishing my DD over weekend. Also, GGI and EQT.
Comment by dave — November 27, 2015 @ 10:10 am
I will give the board a heads up on new one next week. Also, EQT when its time. Waiting on GGI too. Lot going on here into Dec.
Watch CRS Monday, good flow moves both CRS and EXX.
Comment by dave — November 27, 2015 @ 10:17 am
Jon, any word from your sources if we will hear something from farshad next week? Hopefully Dbv has a big week too!
Comment by Sameer — November 27, 2015 @ 10:49 am
I’m starting to feel a bit a doubt on this whole sheslay play , it seems like we’re always perpetuity waiting for next week . Getting just frustrated with all the b.s …… Sorry my vent for the day !! Good luck to all in this ….
Comment by T — November 27, 2015 @ 11:43 am