Check back later today for Daniel’s Den and visit the comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,301 and $1,306 so far today, shrugging off a 3-year high in the Empire State Manufacturing Survey…as of 7:00 am Pacific, bullion is steady at $1,303…Silver is also unchanged at $17.41…both metals are hovering around 3-week highs after strong moves Friday…Copper and Nickel continue to surge, aided by additional encouraging economic data out of China over the weekend…Copper has jumped 12 cents to $3.22 while Nickel is up 9 cents to $5.37…Crude Oil has added to last week’s gains as Iraqi forces have moved into the Oil-rich city of Kirkuk, taking territory from the Kurdish Regional Government…the U.S. Dollar Index is up modestly at 93.22…
2. Nothing like a flare-up in the Middle East to give to Oil a good kick to the upside…Iraq launched an operation in the multi-ethnic Kiruk region yesterday as the crisis between Baghdad and the Kurdish Regional Government (KRG) escalated…tensions have been building since the KRG voted for independence in a September 25 referendum…today, Iraqi Kurdistan stopped operations at the Bai Hasan and Avana Oil fields, setting up an imminent production loss of around 350,000 barrels per day according to Reuters…until recently, Iraqi forces and Kurdish fighters had cooperated against ISIS but as the threat posed by the terror group recedes, the disparate forces that came together to fight it are turning on each other…
3. The Dow is up 63 points as of 7:00 am Pacific for a promising start to a new trading week…the TSX has gained 36 points while the Venture, on the cusp of an important breakout, is up a point at 798…Garibaldi Resources (GGI, TSX-V), which gapped up and zoomed as high as $4.20 intra-day Friday on a bullish exploration update from Nickel Mountain, has eased off for the first time in 3 sessions, down 15 cents at $3.42 through the first 30 minutes of trading…remarkably, GGI has hit on each of its first 12 drill holes at Nickel Mountain (broad sections of disseminated to blebby net-textured sulphides) with initial assays pending…the high tenor of the sulphide (4.8% to 8% Ni and 2.1% to 10.9% Cu) has been confirmed by XRF analysis…abundant pentlandite in the drill core has striking textural features which further supports the potential for exceptional grades and easy processing…drilling of this first-ever Nickel-Copper-rich sulphide discovery in northwest British Columbia continues with 2 rigs as geologists vector in toward a massive sulphide core…HIVE Blockchain Technologies (HIVE, TSX-V) is on the move again this morning after surging $1 last week…Datametrex IA (DM, TSX-V) is also one of the Venture’s early volume leaders, up half a penny at 13 cents, while Calyx Bio-Venture (CYX, TSX-V) continues to firm…Cornerstone Metals (CCC, TSX-V), an emerging Vanadium play, has hit a new high of 27 cents…
4. GT Gold (GTT, TSX-V), restrained technically by a now declining 20-day SMA since late September, is under pressure in early trading after releasing more drill results from its Saddle South Gold discovery near Iskut…the strike length at Saddle South has increased to 1,000 m while Saddle North has returned some encouraging intercepts, enhancing the high-grade epithermal potential and suggesting discovery potential for a large-scale Copper-Gold porphyry…however, GTT has retreated 41 cents to $1.44 through the first 30 minutes of trading…
5. MGX Minerals (XMG, CSE) and engineering partner PurLucid Treatment Solutions have reported an advancement in Magnesium extraction…the pre-treatment removed all of the 76,000 milligrams per litre of Magnesium, reducing the post-treatment concentration to non-detect levels (less than 1 mg/L) from Lithium brine bulk samples shipped from a U.S. site currently under evaluation. Jared Lazerson, MGX CEO, stated: “Magnesium in brine, often referred to as hardness in water, has traditionally been one of the major issues in processing of Lithium concentrate. The Lithium Magnesium ratio was traditionally one of the primary factors in consideration of the viability of Lithium brine projects. One of the major factors in development of South American brine sources was the relatively low Magnesium content. Alternatively, high Magnesium content brine sources have been slow to develop such as those in the United States, China and the Middle East for this reason. Removal of very high levels of Magnesium opens up a large number of global Lithium brine sources for consideration that were previously considered too high in Magnesium. This represents a triumph of technology over perceived resource quality, in particular, that the Magnesium has been extracted in a common form of widely used industrial mineral compound.”
6. Good news for Blind Creek Resources (BCK, TSX-V) – the company has received an amended permit from the provincial government that authorizes Blind Creek to conduct exploration, underground mining and on-site milling activities at its 100%-owned historic Engineer Gold mine property near Atlin…the company is awaiting exploration results from a recently completed geological mapping, sampling and MMI soil survey targeting additional narrow-vein high-grade and shear-hosted bulk tonnage Gold mineralization south of the Engineer and on the southern Wann claims…in addition, an updated NI-43–101 technical report on the Engineer Gold mine property will be released in the near-term…results will provide additional basis for a significant exploration and test-mining/milling program in 2018…BCK also owns a significant Zinc-Lead-Silver deposit in the Yukon where some work was carried out over the summer…
7. An Australian Cobalt company backed by Robert Friedland is eyeing a listing on the TSX...Clean TeQ Holdings, co-chaired by Friedland who owns a 16.5% interest as the company’s biggest shareholder, has a current market valuation of more than $700 million…Cobalt has been one of the star performers in the metals markets this year because of a combination of strong demand and tightening supply…Clean Teq is looking to follow the success of Cobalt 27 Capital (KBLT, TSX-V), a pure play on physical Cobalt, that raised $200 million CDN earlier this year in an offering on the Venture…
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