Check back later this morning for today’s Mornings Musings.
1. Crude Oil prices have added to yesterday’s explosive gains following the announcement of OPEC’s first production cut since 2008…WTI is up $1.32 a barrel to $50.76 as of 7:00 am Pacific…over the past year, a bullish inverted head-and-shoulders bottom has formed in Crude, suggesting prices are headed significantly higher in the months ahead…
2. Gold suffered its biggest monthly drop in 3 years in November…it fell by more than 8% last month, hurt by a surge in the dollar and Treasury yields, and by expectations that the Fed will hike interest rates for only the 2nd time in a decade December 14…ETF outflows since the U.S. election have totaled approximately 5 million ounces, mainly from U.S.-listed products in a rotation away from safe-haven instruments toward pro-growth assets…after finding its bottom, perhaps just prior to the Fed meeting, Gold could charge back vigorously, however, once investors start focusing on the likelihood of rising U.S. deficits and debt in addition to the possibility of a more inflationary environment in 2017…
3. Canopy Growth (CGC, TSX) is acquiring Mettrum Health (MT, TSX-V), creating a world-leading diversified cannabis company with 6 licensed facilities and a licensed production footprint of approximately 665,000 square feet, with significant acreage for expansion…MT is up $2.03 to $7.95 while CGC has climbed 47 cents to $12.27 as of 7:00 am Pacific…the deal is an all-share transaction valued at $430 million, and that has given other companies in the sector a boost this morning…
4. Nemaska Lithium (NMX, TSX) this morning has announced a 29% increase in Indicated resources and a 58% jump in Inferred resources at its Whabouchi Lithum mine in northern Quebec…Guy Bourassa, NMX President and CEO, stated, “The new resource will increase the open pit design enabling us to mine for a longer period using low cost open pit mining methods, which should reduce our cost of concentrate. This is very important when one considers that it takes approximately 7.5 tonnes of concentrate to produce one tonne of lithium carbonate equivalent. While our updated Feasibility study, which we are targeting to release in January 2017, will further define those numbers, I am nonetheless very pleased with the results of this new resource and the positive impact it should have on our project economics”…
5. Investors should note that Probe Metals (PRB, TSX-V) has significantly expanded its footprint in the Val d’Or region, particularly immediately around its Val d’Or East Project and the past producing Beliveau mine where a major drill program was launched in August (no results yet)…this morning, the company announced it has acquired the Bonnefond North Property from QMX Gold (QMX, TSX-V) which extends Probe’s land package immediately to the south of Val d’Or East and along strike of the Beliveau mine…in addition, Probe has recently staked claims around Val d’Or East that, together with the Bonnefond North acquisition, almost doubles the size of this project to 150 sq. km…
6. One of the top-performing juniors in November was Garibaldi Resources (GGI, TSX-V) with a 48% gain thanks to confirmation of British Columbia’s first magmatic Ni-Cu rich system with PGE’s, Cobalt and Gold in the heart of the Golden Triangle, 11 miles southwest of Eskay Creek and 20 miles west of Pretium’s (PVG, TSX) high-grade Brucejack Gold mine…the deposit features high tenors and has not been delimited in any direction including at depth…a private Chinese company has become a GGI shareholder, and two renowned Nickel specialists have just joined the GGI team including the author of a book on Voisey’s Bay who’s also a periodic guest on BNN…despite November’s surge, GGI’s $8.2 million market cap gives the stock considerable upside given valuations of neighbors Colorado Resources ($15 million), Eskay Mining ($25 million) and Tudor Gold ($34 million) with GGI also diversified with year-round projects elsewhere in B.C. and Mexico…more near-term developments expected regarding the E&L and GGI’s other holdings…
7. Callinex Mines (CNX, TSX-V) is up a nickel to 65 cents in early trading, just 4 pennies below its recent multi-year high…a second drill rig recently arrived at the company’s Pine Bay Project near Flin Flon and is currently drilling the first follow-up hole to test the downplunge extent of its new VMS discovery as part of a 10,000-m campaign…
Doubleview TSX.V: DBV – GER: A1W038 – OTCBB: DBLVF
President’s letter to shareholders/friends and introducing twitter account @dbvdoubleview
Hello,
I want to take this opportunity to advise you of recent activities at our Hat Project alkalic gold-copper porphyry discovery in Northwest British Columbia.
Despite facing extremely difficult market conditions, the Company was able to secure non-brokered private placement funds so that we could continue our exploration of the Hat Project. Field work commenced in mid-September with camp rehabilitation and improvements and we currently have drillers and our support crew on site.
Building on previous experience with winter operations, we are accomplishing all our objectives in expanding the Lisle Zone and conducting initial exploration of other highly prospective parts of the property. During November we drilled more than 1530 metres while operating with peak efficiency, no down-time and no safety issues. I am proud of that accomplishment and want to shout-out a hearty message of thanks to our personnel, contractors and suppliers, all of whom contributed to this success. Work will continue into December, followed by a winter shutdown to enable everyone to rest and enjoy the holidays.
For the benefit of all, we have posted a number of core photographs on our website: doubleview.ca – core photos. These illustrate the nature of the rocks as well as the characteristic alteration and mineralization of the Lisle Zone. All cores are being sampled and analyzed following industry best practices and further core photographs will be posted. Although we are very pleased with the initial observations of the cores, we recognize that the assay numbers will tell the tale. Analytical results will be released when all data have been received and verified.
This office has received many calls and emails from interested shareholders and analysts: these are appreciated and have provided valuable feedback. The volume of such calls is such that we have not been able to devote as much attention to them as we would like. Understandably, we have heard some concerns about the issuance of shares to fund our work program. Unfortunately this is inevitable in the world of junior resource exploration companies as it is our only means of financing that work, and partly to include strategic investors at this time. We are hopeful that with the recent remarkable strength exhibited by the metal markets, including the increase of the copper price from US$2.08 to US$2.64 per pound today, will result in renewed interest in greenfield projects such as ours and an overall rebirth of the exciting junior company marketplace. We are expanding our financing options by venturing into previously untapped sources and will keep you informed of developments in that regard.
Twitter account: @dbvdoubleview
Our newly established twitter account will help to keep everyone better informed of our progress.
We thank you for your continued support – we’re looking forward to a great finish to the year and an exceptional 2017!
Kind Regards
Farshad Shirvani, President & CEO
For further information please contact:
Doubleview Capital Corp.
Suite 880, 409 Granville Street
Vancouver, BC, V6C 1T2
Farshad Shirvani, President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca
@dbvdoubleview
About Doubleview Capital Corp.
Doubleview Capital Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada and is publicly traded on the TSX-Venture Exchange [TSX-V: DBV], [OTC: DBLVF], [GER: A1W038]. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia, Canada. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the–art exploration methods. Doubleview’s portfolio of strategic properties provides diversification and mitigates investment risk.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview’s control. Such factors include, among other things: risks and uncertainties relating to Doubleview’s ability to implement its exploration program on the Hat Property, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Comment by Foz1971 — December 1, 2016 @ 7:20 am
HIT is looking like it may have bottomed out and is setting up for another run at 10 cents. This quarter may be very good for HIT in terms of sales and revenue giving it a boost as well. I don’t think there is much of s downside here at 6 cents.
Comment by Ed — December 1, 2016 @ 10:45 am
That sure is a wild up and down ride gold and the $ are on, positioning for Friday 5:30am pst..?
Comment by Laddy — December 1, 2016 @ 11:21 am
HIT – after the latest SEDAR filing, with sales not as strong as last year (FWIW) and a wait for iphone7, there may be some waiting till late Dec waiting for a guess or rumour about sales thru Dec before there is enough oomf to get thru the overhead. id be happy to be wrong though
Comment by david — December 1, 2016 @ 11:46 am
VGW.cse moving up nicely since the halt was lifted.
Comment by Mmurphy — December 1, 2016 @ 2:24 pm