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April 11, 2017

7 @ 7:00

Visit our comments section throughout the day and check back later for a possible additional post. BMR Morning Market Musings returns tomorrow.

1. Gold is once again attempting to conquer stiff resistance in the $1,260’s in the immediate vicinity of its 200-day moving average (SMA)…as of 7:00 am Pacific, bullion is up $11 an ounce at $1,265 while Silver has added 17 cents to $18.10…Palladium and Platinum are also both moving while base metals are steady…what continues to be impressive about Gold is how traders have consistently been buying into any dips…the current geopolitical climate is certainly helping to give Gold a “safe-haven” bid…U.S. Secretary of State Rex Tillerson arrives in Moscow today amid tensions over Syria…Tillerson has been mandated by foreign ministers from the G-7 to put pressure on Russia to break ties with Syrian President Bashar Assad…

2. The Venture is trying to make 824 resistance new support on a breakout…through the first 30 minutes of trading, the Index tested 824 but is now 2 points higher at 827 despite some downward pressure on heavy volume in some marijuana plays, triggering circuit breakers and brief trading halts…in Toronto, the TSX is down 22 points while the Dow is off 39 points as of 7:00 am Pacific

3. American Manganese (AMY, TSX-V) is one of the top Venture performers in early trading, up 2.5 cents to 23.5 cents after reporting that Kemetco Research Inc. has successfully extracted Nickel, Manganese, Cobalt and Lithium from an NMC cathode material chemistry using AMY’s proprietary hydrometallurgical process…7 leach tests were conducted with a range of conditions and extractions of 100% for Nickel, Manganese, Cobalt and Lithium were achieved from cathode powders used in Lithium ion batteries…

4. Osisko Mining (OSK, TSX) released more high-grade drill results this morning from its continuing 400,000-m program at its 100%-owned Windfall Lake Gold Project in Urban township, Quebec…new assays are highlighted by 585 g/t Au over 2.8 m (796.2 m to 799 m) in drill hole OSK-W-17743-W4 in the Caribou zone which included 5.45 kilogram/t (5,450 g/t) over 0.30 m containing what the company called “spectacular visible Gold veinlets“…the drill program combines definition drilling above the Red Dog intrusion, expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry Project area…OSK is up a nickel at $5.50 through the first 30 minutes of trading…

5.  The new Yukon Gold rush is intensifying – Barrick Gold (ABX, TSX) is the latest major (and the biggest) to enter the region, joining 3 others, after announcing a deal yesterday with ATAC Resources (ATC, TSX-V) that translates into a potential total investment by Barrick of approximately $63.3 million…this includes a private placement in ATAC of $8.3-million and a 2-stage, $55 million exploration earn-in option to acquire up to 70% of ATC’s Orion Project…Barrick is the 2nd major producer in as many months to announce an investment in the Yukon…Newmont Mining (NEM, NYSE) recently said it would spend $39.5 million to explore and develop Goldstrike Resources’ (GSR, TSX-V) Plateau property…ATC is up 3.5 pennies at 53 cents as of 7:00 am Pacific…keep in mind that Strategic Metals (SMD, TSX-V) holds a large share position in ATAC and SMD also owns a massive land package in the Yukon…

6. The National Post reported today that Gran Colombia Gold (GCM, TSX) has filed a $700 million (U.S.) lawsuit against Colombia under the Colombian- Canadian free trade agreement after the government ordered it to cease operations at the El Burro site in Marmato until it has further consulted with local residents…the Post outlined how the Marmato Project has been plagued by controversy ever since operations began 10 years ago and stated the company has been unable to remove illegal miners from the area – by some reports, illicit mining is a $2.5 billion (U.S.) industry in Colombia…GCM is steady at 9.5 cents as of 7:00 am Pacific

7. Gatekeeper Systems (GSI, TSX-V), a company we’ve been tracking as an ideal trade for the “Trump era”, climbed as high as 34 cents in early trading today…GSI announced yesterday that its non-brokered private placement offering as announced on April 3 and April 6 has been further oversubscribed…GSI now proposes to raise up to a total of $4.3 million at 20 cents per unit…Gatekeeper provides innovative, end-to-end video safety and security solutions for mobile applications, including body cameras, in-car police video systems, school bus video and stop-arm camera video enforcement systems, transit bus video systems, and airborne digital recording systems for military applications…

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14 Comments

  1. Well that was a nice little gift on CSR yesterday…a thanks for whomever felt the need to get out ?

    Comment by weatheritout — April 11, 2017 @ 8:03 am

  2. agree weatheritout, I bought yesterday as well on the dip.

    Comment by Foz1971 — April 11, 2017 @ 8:28 am

  3. Jon, do you happen to know if the weather has been favourable for GGI to do the VTEM at the E&L yet?

    Comment by pole — April 11, 2017 @ 9:10 am

  4. I’m hearing the last half of April is looking very good, pole.

    Comment by Jon - BMR — April 11, 2017 @ 11:12 am

  5. Thanks Jon.Really looking forward to the results of the VTEM.

    Comment by pole — April 11, 2017 @ 11:40 am

  6. I know local weather can vary Jon, but the weather has been good in the area the past few days and still currently good plus extended forecast looks nice.

    Comment by Dan1 — April 11, 2017 @ 12:01 pm

  7. CPO – needs a spark I think to get it moving in the right direction

    Comment by Foz1971 — April 11, 2017 @ 12:33 pm

  8. Jon
    Do you think Regoci will announce when they do the VTEM or just announce the results down the road?
    And if he does wait and announce results how long would that be after they have actually flown the property? Thanks

    Comment by GREGH — April 11, 2017 @ 4:58 pm

  9. There’s no question in my mind he’ll announce it ahead of time, Gregh.

    Comment by Jon - BMR — April 11, 2017 @ 5:14 pm

  10. gold at 1278$

    Comment by STEVEN1 — April 11, 2017 @ 6:09 pm

  11. Battle mountain gets bought out gold standard after crap results, only a matter of time before Cxo finds a big deal coming their way!! Wink wink

    Comment by Greg — April 12, 2017 @ 5:44 am

  12. Shows you how important location is, Greg…very good reason to believe that Lewis represents a continuation of the Phoenix deposit…that’s certainly the theory GSV believes in strongly…they first took a big position in the company a year ago…

    Comment by Jon - BMR — April 12, 2017 @ 6:01 am

  13. CUZ MOVING ‘UP’….GOOD FOR COBALT STOCKS!

    Comment by STEVEN1 — April 12, 2017 @ 7:19 am

  14. Jon
    How long does it take to get results after the VTEM?
    Thanks

    Comment by Greg — April 12, 2017 @ 8:04 am

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