October 13, 2018
October 12, 2018
7 @ 7:00
Visit the BMR comments section throughout the day for updates and helpful information…
1. Gold has traded between $1,215 and $1,224 so far today following its biggest 1-day move in 2 years…as of 7:00 am Pacific, the yellow metal has retreated $5 an ounce at $1,219 with U.S. equity markets bouncing back after 2 days of sharp losses…bullion has traded within a horizontal channel between $1,220 and $1,180 for the past 2 months, and a confirmed breakout above that channel is looking increasingly likely during the 2nd half of October…Silver is up 8 cents at $14.64…Copper is has climbed 5 cents to $2.85…Nickel and Zinc are up slightly at $5.76 and $1.21, respectively, while Cobalt has firmed to $26.31 a pound…Crude Oil is steady around $71 a barrel while the U.S. Dollar Index has rebounded one-fifth of a point to 95.22…
2. BMR has learned that two Barkerville Gold (BGM, TSX-V) employees have staked a nearly 200-km-long belt of claims in the interior of British Columbia from Clinton to Princeton, covering Spences Bridge geology prospective for Gold…this is believed to be the largest single claim block staked by one entity in B.C. exploration history, a total of 189,000 hectares – nearly 2,000 sq. km – acquired for a total cost of $331,000…the question is, who’s really behind this?…interestingly, the claims were staked over a 12-hour period September 29 and 30, just a couple of days prior to a news release issued by Westhaven Ventures (WHN, TSX-V) whose Chairman and largest shareholder is Gren Thomas…on October 2, WHN released partial results from a recently completed drill campaign at its 155 sq. km Shovelnose Gold Property, located within the Spences Bridge belt, approximately 30 km south of Merritt…initial results from 10 holes (3,721 m) of drilling featured the highest-grade Gold assays to date at the property including 1.65 m grading 175 g/t Au and 249 g/t Ag, visible Gold in 5 drill holes including 6 separate areas in hole SN18–14, and a 20-m quartz vein in SN18–15…the strike length of the South zone was extended an additional 300 m southeast for a total of 700 m…
3. Why do Canadians put up with this?…Western Canada Select slumped below $20 (U.S.) a barrel yesterday, continuing a brutal streak of declines for the country’s main grade of Crude…the drop has come as rising production from Canada’s oil sands overwhelms the nation’s pipeline capacity, and as refinery capacity in the U.S. dwindles amid planned maintenance…WCS has now declined for 10 of the past 13 trading days, sending its discount to West Texas Intermediate Crude to a whopping $52 a barrel, the widest on record in Bloomberg data stretching back to 2008…much of the blame for all of this falls on Canada’s “climate change” crusaders, globalists who certainly aren’t putting Canada first as they carry out a naive agenda to “save the planet”…they have a great friend, of course, in Justin Trudeau whose National Energy Program 2.0 (an even bigger disaster than his father’s original NEP) has seriously damaged the country’s Oil and gas sector…a pipeline, even one that it currently owns, will never get built under this government, while the anti-Oil Liberals continue to abuse ordinary taxpayers with carbon taxes and other “green” schemes…
4. J.P. Morgan Chase (JPM, NYSE) CEO Jamie Dimon raised concerns today that rising interest rates and geopolitical flareups could derail U.S. economic growth…“The economy is still very strong, and that’s across wages, job creation, capital expenditure, consumer credit; it’s pretty broad-based and it’s not going to be diminished immediately,” Dimon said in a media conference call following his bank’s earnings report…“I was pointing out the probabilities that I thought were higher that rates would go up. I still believe that. I do think you’re going to see higher rates. If rates go up because you have inflation, that is not a plus. That is a bad thing. So far, we still have a strong economy in spite of these increasing overseas geopolitical issues bursting all over the place”…Dimon rattled off a list that included the Trump administration’s trade dispute with China, Brexit, the unwinding of bond-purchasing programs by central banks around the world, as well as flareups across Europe, the Middle East and Latin America including in Italy and Turkey…all sounds good for Gold…
5. Ford’s (F, NYSE) sales in China dropped 43% in September from the same month a year earlier, a sign that sales are slowing in the world’s largest car market…this is the 3rd straight month of declining auto sales in China…the second-largest U.S. automaker has been hit by the ongoing trade dispute between the U.S. and China, despite the fact that Ford sells cars in China through partnerships with local firms…Ford shares are bouncing off a 52-week low, down nearly 30% since the beginning of the year…
6. Aphria (APH, TSX) announced this morning that it earned nearly $21.2 million in its latest quarter ending August 31, up from $15 million during the same period last year…Aphria’s profit amounted to 9 cents per diluted share compared with a profit of 10 cents per diluted share in the same quarter last year when it had fewer shares outstanding…revenue for the quarter totalled $13.3 million, up from $6.1 million…Aphria says its Canadian-based production capacity is on schedule to reach 255,000 kgs per annum while the company has also signed supply agreements with every province in Canada and the Yukon Territory, ensuring access to Aphria products for 99.8% of the Canadian population…shares of Aphria shot higher earlier this week after a report that U.S. tobacco giant Altria Group was in talks with the licensed cannabis producer to acquire an equity stake in the company…
7. The Dow has rebounded 335 points as of 7:00 am Pacific as worries over rising rates subside, at least temporarily, and tech shares recover from steep losses earlier this week…a slew of better-than-expected bank earnings also helped boost the market this morning…in Toronto, the TSX has climbed 130 points while the Venture is 6 points higher at 697…Canada Cobalt (CCW, TSX-V) has jumped 4 cents to 58 cents as a major new technical breakout unfolds in the world’s #1 performing Cobalt stock in 2018…fresh results from the Castle mine and property are expected shortly…as drilling and pilot plant work continue at Castle, CCW is the first junior in North America during this “battery arms race” to produce a Cobalt sulphate product from its own mineralized material, thanks to its revolutionary Re-2OX process…GT Gold (GTT, TSX-V) has pulled back slightly in early trading after doubling in value since Tuesday following news of another world class drill hole (#93) at the company’s Gold-rich porphyry discovery at Saddle North in the Red Chris district…this is the most significant grassroots Gold-Copper porphyry discovery in many years in British Columbia…weather remains unusually mild in the Eskay Camp where Garibaldi Resources (GGI, TSX-V) continues to aggressively drill at Nickel Mountain, including immediately adjacent to and beneath the receding icefield…geologists are following the trail of fresh massive sulphides exposed in outcrop, thanks to melting ice, in an area north of the Discovery zone and northeast of the Northwest zone…Next Green Wave Holdings (NGW, CSE) is up 2 pennies at 71 cents on its 3rd day of trading on the CSE…Rusoro Mining (RML, TSX-V) is up on news that it has agreed on the terms of a settlement proposal with the government of Venezuela…what are the odds, though, of Rusoro collecting even a nickel of the $1.28 billion (U.S.) it is owed by that corrupt and crumbling regime?…“We are very pleased that we have agreed on terms of a settlement with Venezuela,” commented Vladimir Agapov, chairman of Rusoro…“We look forward to the execution of the settlement agreement and towards our continued relationship with Venezuela in assessing two of Rusoro’s former Gold projects regarding a potential partnership to restart production of the Choco 10 and San Rafael-El Placer mines”…okay, sure, Vladimir…
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October 11, 2018
October 10, 2018
October 9, 2018
7 @ 7:00
Visit the BMR comments section throughout the day for updates and helpful information!
1. Gold has traded between $1,182 and $1,192 so far today after yesterday’s selling pressure…as of 7:00 am Pacific, the yellow metal is down $2 an ounce at $1,185…Silver is off a nickel at $14.30…Copper is flat at $2.80…Nickel has added 4 cents to $5.70…Zinc is 2 cents higher at $1.21 while Cobalt is steady at $25.17…Crude Oil has gained 22 cents to $74.51…the Oil market mood remains strongly bullish, with fears growing that U.S. demands for an Iran Oil embargo could cause a significant supply shortfall…Iran’s exports during the first week of October were 1.1 million bpd, down from 2.5 million bpd in April…the U.S. Dollar Index has climbed one-quarter of a point to 95.91 as it attempts to overcome resistance around 95.50…the benchmark 10-year Treasury yield has fallen slightly after hitting a new 7-year high earlier in the session…
2. China must take strong stimulus measures to support growth, with the country in a “critical” period of stabilizing its economy, according to a commentary in the Global Times, a state-backed Chinese tabloid…in an English-language commentary, the Global Times wrote that China may not be able to overcome these pressures by simply continuing to fine-tune its economic policy…“In 2008, the Chinese government announced a 4 trillion yuan ($578 billion) stimulus package to fight the impact of the global financial crisis. Now, the Chinese economy is under even tougher pressure amid escalating trade friction. Beijing must draw up strong stimulus policies to inject new momentum into the real economy”…the views in the newspaper, which is run by the ruling Communist Party’s official People’s Daily, do not necessarily reflect Chinese government policy…
3. The International Monetary Fund (IMF) appears to be under-estimating U.S. economic growth and resilience…the IMF today cut its global economic growth forecasts for 2018 and 2019, saying that U.S-China trade tensions are taking a toll and emerging markets were struggling with tighter liquidity and capital outflows…the new forecasts, released on the Indonesian resort island of Bali where the IMF and World Bank annual meetings are getting underway, show that a burst of strong growth, fuelled partly by U.S. tax cuts and rising demand for imports, was starting to wane…in an update to its World Economic Outlook, the IMF is now predicting 3.7% global growth in both 2018 and 2019, down from its July forecast of 3.9% growth…the downgrade reflects a confluence of factors, including the introduction of import tariffs between the United States and China, weaker performances by eurozone countries, Britain and Japan, and rising interest rates that are pressuring some emerging markets with capital outflows, notably Argentina, Brazil, Turkey, South Africa, Indonesia and Mexico…“U.S. growth will decline once parts of its fiscal stimulus go into reverse,” IMF chief economist Maurice Obstfeld said in a statement…“Notwithstanding the present demand momentum, we have downgraded our 2019 U.S. growth forecast owing to the recently enacted tariffs on a wide range of imports from China and China’s retaliation”…
4. The U.S. economy is poised for growth that’s better than the IMF projects, and there’s nothing on the domestic front that could knock it into a recession, according to one of the world’s most closely followed economists…Mohamed El-Erian, chief economic adviser for Allianz, told CNBC this morning that the U.S. economy is “in a good place in terms of growth, the U.S. economy is in a good place in terms of attracting capital”…that stood in some contrast to the IMF, which maintained its prediction of 2.9% growth for the U.S. this year, but reduced its 2019 American growth prediction from 2.7% to 2.5%…El-Erian says the IMF “is too pessimistic” about the world’s largest economy…“We’ve got three drivers of domestic demand all hitting at the same time: government spending – which is going to get stronger, not weaker – household spending, and business investment. That takes the U.S. through the next couple of years at least, so it wouldn’t surprise me if we get 3% growth for this year and next year”…El-Erian said that any disturbances to U.S. economic growth were likely to come from beyond its borders…
5. Kirkland Lake Gold (KL, TSX) has announced record quarterly Gold production of 180,155 ounces for the 3rd quarter of 2018, up 30% from the same period last year…production in Q3 exceeded target levels for the quarter driven by record quarterly production from Fosterville of 90,618 ounces as well as from the company’s Canadian operations, with Macassa, Holt and Taylor collectively producing 89,537 ounces…production for the first 9 months of 2018 totalled 492,484 ounces, with the company completing the 3rd quarter well positioned to achieve the improved full-year 2018 consolidated production guidance of over 635,000 ounces…the company had cash and cash equivalents totalling approximately $275 million (U.S.) at September 30, 2018, and will report Q3 financial results October 30th…on August 1, the company reported Q2 2018 net earnings of $61.5 million (U.S., 29 cents per share), cash flow from operating activities of $120.9 million and free cash flow of $60.7 million…
6. Another high-grade producer continues to pile up cash as it forecasts a strong 4th quarter…Pretium Resources (PVG, TSX) added $48 million (CDN) to its coffers at the end of Q3 (cash position now $190 million) after producing 92,641 ounces of Gold an at average mill feed grade of 12.4 g/t Au (97.4% Gold recovery rate) at the Brucejack mine in the Eskay Camp…the stock has backed off on the news this morning (those numbers were off modestly from Q2) but the company predicts a robust finish to the year with Q4 production as much as 35% higher than Q3…“We added $48 million to our cash on hand during the 3rd quarter, and are focused on sustaining long-term profitability,” said Pretium President & CEO Joseph Ovsenek…“We are on our way to meeting our Gold production guidance of 200,000 to 220,000 ounces of Gold for the second half of 2018“…
7. The Dow is off 32 points through the first 30 minutes of trading…in Toronto, the TSX is 53 points lower while the Venture is down 2 points at 704…A.I.S. Resources (AIS, TSX-V) has received its long-awaited permit from authorities in Jujuy province in Argentina for drilling and other work at Guayatayoc Mina, with the permit for Guayatayoc III to follow soon…drilling to help prove up the Lithium model at Guayatayoc is expected to commence in November…on the CSE, Chemesis International (CSI, CSE) continues to show strength, up 7 cents at $1.92 (just 12 cents off its high)…GT Gold (GTT, TSX-V) is off a penny at 74 cents as of 7:00 am Pacific, but the stock has an excellent chance to break out of its recent trading range to the upside following completion of its financing while fresh drill results are expected shortly from Saddle North and Saddle South…
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Why Are These People Smiling? – Their Stock Has Tanked 80%!
The Template For The Next 10% Stake In Garibaldi Resources
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