Gold has traded between support at $1,080 and $1,094 so far today…as of 9:30 am Pacific, bullion is up $4 an ounce at $1,091…Silver has jumped 41 cents to $14.108…Copper is flat at $1.98…Crude Oil is up 6 cents at $30.50 while the U.S. Dollar Index is relatively unchanged at 99.09…
The World Gold Council’s Gold reserve data for November is out, showing that global central banks continued their buying spree…one UK-based research firm expects that pattern to continue, particularily from China. “Buying of Gold by global central banks accelerated in November, with China and Russia once again particularly active,” noted Simona Gambarini, commodities economist for Capital Economics. “We expect further official purchases to be one of several factors supporting the price of Gold in the next few years.”
According to the WGC’s data, 55 tonnes of Gold were added to central banks’ reserves in November, up almost 90% from the prior month. “China and Russia were once again the biggest buyers with 21 tonnes and 22 tonnes added to their respective reserves,” Gambarini said, adding that the People’s Bank of China released data last week that showed 19 tonnes were added in December as well…Gambarini suggested that central banks from developing economies will be the main source of demand from the official sector moving forward. “Indeed, the amount of Gold held by the PBOC still only accounts for around 1.7% of its total reserves,” she said. “This is very low by the standards of other central banks, suggesting that there will be more buying to come.”
Global Corporate Credit Ratings Deteriorate
Pressure on global corporate credit ratings is at the worst level since the financial crisis, Standard & Poor’s has warned…in a report yesterday, the ratings agency said that 17% of debt-issuing companies were on “negative credit watch” at the end of 2015, meaning they had a 50% chance of being downgraded within the next 3 months…this outnumbered the number of companies on “positive credit watch” by a ratio of 3-to-1…negative outlooks on global companies currently exceed positive ones by the worst margin – 11% – since 2008-09, S&P said…
TMX Reaches Out – Sort of
Have any of our readers seen this email (below) from the TMX (Venture Exchange?)…apparently it was sent out to companies, but we’re not sure how many individual investors are actually aware of these important Town Hall meetings regarding the Venture…if the TMX is trying to understand what changes need to be made to improve investor confidence in this market, it seems to us that reaching out to individual investors is critical…companies are their clients but individual investors make the market…if you’re in Montreal, Calgary or Vancouver, we encourage you to attend the upcoming TMX meeting in your city and make your voice heard…
INVITATION
Town Halls: Revitalizing TSX Venture Exchange
Please join us at an upcoming town hall meeting where TSX Venture Exchange will share plans, and will be seeking your input, on how to revitalize Canada’s public venture market.
The TSXV team is committed to making a positive, tangible impact in three important areas:
- Reducing clients’ administrative and compliance costs, in a meaningful way, without compromising investor confidence.
- Expanding the base of investors financing companies and generally enhance liquidity.
- Diversifying and growing the stock list to increase the attractiveness of the marketplace overall.
We will discuss these commitments further in the town hall meetings. We hope you can join us.
Calgary – Tuesday, Jan. 12, 2016 – The Westin Calgary, 3:00 pm
Montreal – Friday, Jan. 15, 2016 – Bourse de Montreal, 10:00 am
Toronto – Wednesday, Jan. 20, 2016 – TMX Gallery, 1:30 pm
Vancouver – Thursday, Jan. 28, 2016 – UBC Robson Square, 2:00 pm
Click on the TMX link below to register (no charge for event):
https://event-wizard.com/TSXVTownHalls2016land/0/welcome/
In today’s Morning Musings…
1. How Claude Resources (CRJ, TSX-V) is well-positioned for continued operational and market success…
2. Walker River Resources (WRR, TSX-V) Update…
3. Fresh chart for Nemaska Lithium (NMX, TSX-V) – amazing relationship with its 50-day moving average (SMA)…
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…
Looks like the CDNX is headed for the lows again . Even if the exchange can restructure itself it will take an overall market sentiment change whereby small cap exploration companies again become in favour. The exchange needs a catalyst that will most likely come from the mining exploration sector as oils are not to that point yet. IMO
Comment by Les — January 13, 2016 @ 11:16 am
WRR- Just spoke with Michel David the selling of yesterday has no relation to results probably results in 2-3 weeks !
Comment by Guy Delisle — January 13, 2016 @ 11:23 am
Next part of the run set to begin in T.NHC.
Comment by robinandthe7hoods — January 13, 2016 @ 11:23 am
Just my opinion,boys,but tomorrow the margin calls begin on T.NHC.The conference call will be the big driver tomorrow.We could see a parabolic move.
Comment by robinandthe7hoods — January 13, 2016 @ 11:38 am
Regarding: TMX Reaches Out – Sort of
Can not stress enough how important it is at this time to have investors voice their ideas, concerns and suggestions. Don’t be afraid to write the TSX and the securities commissions in your area. No doubt the listed companies will be at these meetings bitching about over regulation. Not sure how much paperwork they’re complaining about when 70% of the listed companies on the TSX are dormant. Dormant, but management are still logging their $70K-$150,000/year plus expenses. As the old says goes, “the squeaky wheel gets the grease”, investors need to start making some noise to get the changes that need to be made.
Comment by Dan — January 13, 2016 @ 11:44 am
robin – thx for the heads up.. man oh man do they have revenue and profits.. a real company unlike so many life style crapolas on the V…
Comment by Jeremy — January 13, 2016 @ 1:09 pm
EQT- just finished talking with office. May start trading tomorrow.
It is not an exchange issue- they’ve ok’d. Company has enlarged the board
with some overseas directors as a result of the deal. Awaiting for lawyers
and all directors to sign approvals and all paper work. Then will be announced.
Does sound like Brazil.
Comment by bob — January 13, 2016 @ 3:34 pm
Bob Thanks for the update. If I may ask, what deal? The expected company with the cash flow available now for a deal with EQT?
Cheers.
Comment by Andrew — January 13, 2016 @ 3:40 pm
#6
SeekingAlpha wrote a last ditch effort article today by a hedgefund shorter still refuting the numbers.Tomorrow the Conference Call will further damage their lies.
Huge volume and another spike coming.Q4 will will hit them in the knees with incredible numbers and then their next deal finishes them off.Best buy on the market today.The next week will be something to witness.
Comment by robinandthe7hoods — January 13, 2016 @ 3:49 pm
Andrew- I did not press for specifics, but the indication was that this will be co. transforming,
and with the addition of international directors mentioned, certainly sounds as such………
Comment by bob — January 13, 2016 @ 4:06 pm
Gbb news!
canadianminingjournal.com/news/gold-qmx-signed-custom-milling-deal-for-grenada-mine/
Comment by Matt — January 13, 2016 @ 4:13 pm
Bob – I also called EQT and was told the same. When I asked if the deal involved a Brazilian company there was a looong pause then he said “no comment”. Should start trading tomorrow.
Comment by Jeff — January 13, 2016 @ 4:29 pm
EQT – well, sounds good. Lets see if the train takes off.
Comment by dave — January 13, 2016 @ 5:39 pm
EQT – Halted for a week. Will it be worth the wait?
GGI – Predicting we will hear from them next week. Grizzly assays and possibly an update from Mexico. Drilling since middle of December.
Comment by Dan1 — January 13, 2016 @ 5:53 pm
hey guys and gals… I have this very calm and surreal feeling this day… dont ask me why…. why I’m a hairy guy… I digress:)
seriously a calm and surreal feeling… dont know if it is a turn, or the guillotine coming down knowing that my financial life is over.
but it is what it is…
NHC??? they 50 mil in the bank and 140 mil in revenue for 3 quarters.. wtf?????? and how the fk does a hedge fund shorter have the right or the dignity to diss any company… oh of course for their own greed…
what has this world come too….
and if Hardy pulled something off then I will be the first top publicly apologize …. then he isn’t like all the rest!!
want to be so proved wrong!
Comment by Jeremy — January 13, 2016 @ 7:41 pm
GBB News Maybe the permit is near or why even waste the time to put out this NR?
Jon your thoughts please?
thanks
Comment by Greg — January 13, 2016 @ 9:53 pm
NHC – I hope they continue to push the short seller in a lawsuit. The damage has already done unfortunately and the short seller has probably already covered. This is a great buying opportunity.
Comment by George — January 14, 2016 @ 5:18 am
Greg, I’m not sure one can draw a relation between the two (the news and the permit). The permit will come, it’s not a question of if – just timing. In the meantime of course they have normal business and planning to carry out. It’s good to see they’ve stopped issuing stock (flow-through) over the past year.
Comment by Jon - BMR — January 14, 2016 @ 5:53 am
Jeremy – grab the booze and lets have one. Don’t worry about your financial loss. Hop a plane with me to Ecuador where one lives like a king for a grand a month.
Comment by dave — January 14, 2016 @ 6:18 am
well .. so much for NHC being a winner… like WTF really?????
Comment by Jeremy — January 14, 2016 @ 6:44 am
new low for the venture… that peaceful esy feeling didnt last too long… drinking at 9:30 just isnt good!
Comment by Jeremy — January 14, 2016 @ 6:45 am
NHC – Glad I wasn’t a buyer yesterday. Seems like a good buy at these levels though. Did the CC happen? I haven’t had a chance to investigate what was said.
Comment by 02charoc — January 14, 2016 @ 7:04 am
anyone have any explanations for NHC??? like really??? is this market that fkd up that a real company with real earnings and money in the bank takes a pounding for no apparent reason?? or am I missing something???
Comment by Jeremy — January 14, 2016 @ 7:06 am
Jeremy – I’m on my 3rd drink, and I don’t even drink. Nothing is sutaining, not even phm
Comment by dave — January 14, 2016 @ 7:20 am
NHC – 3.89 was very heavy resistance. I would have shouted it out pre-market Jeremy if I wasn’t busy at the time.
Comment by dave — January 14, 2016 @ 7:25 am
I think robinhood may need a drink after today. Lets see where NHC closes today. Too chancy for my blood.
Comment by dave — January 14, 2016 @ 7:30 am
The loonie is in the 60’s. My stockwatch monthly subscription keeps going up and up.
NXE – over 11 million yesterday traded and it closed even. You tell me, whats wrong with this market.
Comment by dave — January 14, 2016 @ 7:33 am
Greg, no real change at GBB. They have previously produced mined deposit ready for milling – that is what the NR refers to. If they can get it milled it may generate some cash, but it has no reference to how the CoA is progressing.
Comment by Tom UK — January 14, 2016 @ 7:49 am
CDNX making new lows with the C$ , where’s the bottom ?
Comment by Les — January 14, 2016 @ 8:09 am
Dave – when do we leave!!!! like really….. Trading is one thing.. and I think that PHM, CXV, and NHC have great biz models, and have cash so in good shape.. not worried about them, but more worried about a market that isnt rational at any level…
can the venture just simply go bust?????
Comment by Jeremy — January 14, 2016 @ 8:45 am
Looking at airfare for Feb. 2. – $640 round trip Atlanta to Quito. Hooked up with a lady from Manta and Guayquil. Both have a place to rent for the month for $300. Lets go bro. A grand plus food $200 for the month and were set. Oh, I forgot about the booz. Cost a little more.
Comment by dave — January 14, 2016 @ 9:12 am
Man does this market ever need a massive discovery. It’s been so long that the market has forgotten what can happen to these stocks when a true discovery happens. We need a junior that goes from cents to tens of dollars over months to wake up investors.
Comment by weatheritout — January 14, 2016 @ 9:15 am
Wow 1,0000 CAD = 0,6962 USD
Losing money just holding a Canadian stock.
Comment by ConcernedCitizen — January 14, 2016 @ 9:26 am
PHM NHC both had insiders with huge sells in the past, that’s a big spook. Also the crap that has gone on w Valeant, also sits in the mkt’s mind I suspect, so when in doubt, head for the door. Crushing a SS sounds sweet, but as we have seen, it doesn’t always happen as fore-hoped. ETQ is an example. As long as no one is falling from a helicopter, maybe one day they will be able to buck the trend. NHC did a PP at $9, so those guys either push for another round of financing at $3.50 or start accumulating shortly,if they haven’t already jettisoned their positions.
Want a stock w a 25% div?? NIF.UN. THey got mkt spooked months ago, but are stockpiling cash for at least the nxt yr or two, courtesy of Glencore. But this type of Div typically says, going out of biz.
Comment by david — January 14, 2016 @ 9:47 am
Jon, your expert opinion as to where the Venture is going to hit bottom?
Thanks
Comment by Jeff — January 14, 2016 @ 9:47 am
PRE – shareholders rejected a good offer and now shares are worthless.
Comment by 02charoc — January 14, 2016 @ 9:49 am
EQT – the press release is with the exchange for final “dotting the i’s and crossing the t’s”. Hopefully it will be released any moment/hour.
Comment by Jeff — January 14, 2016 @ 10:11 am
Now here’s a laugh for ya. I’m losing money in EQT with the loonie dropping and I can’t even stop it cause it’s halted.
Jeff – ain’t no one can give you expert advice. The Venture and loonie have broken all support. No way to guess anymore.
Comment by dave — January 14, 2016 @ 10:19 am
Dave – Can you get a good group rate flight to Ecuador? Count me in buddy, lol!! This shall pass too!!
Comment by Jeff — January 14, 2016 @ 10:34 am
Hey Jeff welcome aboard.. is it OK if I bring my wife:) … who is going to bring the sharp objects… ??? either that or when the money runs out there is a tall building to leap from..
Dave – too funny…. hoping you can entertain those 2 gals with class!! no disrespect meant to any females on the board!!!!
Comment by Jeremy — January 14, 2016 @ 1:18 pm
Speaking of Ecuador, thought this was pretty interesting
mining.com/ecuador-lundin-gold-reach-agreement-to-develop-fruta-del-norte/
Comment by Sameer — January 14, 2016 @ 4:39 pm