Check back later this morning for today’s BMR Morning Market Musings.
1. Gold has traded between $1,248 and $1,255 so far today…as of 7:00 am Pacific, bullion is up $2 an ounce at $1,249…Silver has added 9 cents to $16.72, base metals are relatively unchanged while Cobalt has hit a new high of $26.76…the U.S. Dollar Index has tumbled one-third of a point to 96.17…
2. Oil prices came under modest renewed pressure this morning after a bearish industry report released ahead of official government data scheduled to come out within the hour…yesterday’s data from the American Petroleum Institute (API) showed that U.S. Crude inventories rose by 851,000 barrels in the week to June 23, compared with analysts’ expectations for a decrease of 2.6 million barrels…meanwhile, gasoline stocks rose by 1.4 million barrels even though the U.S. summer driving season began a few weeks ago…WTIC dipped as low as $43.67 this morning but have since rebounded to $44.21, down just 3 cents for the day as of 7:00 am Pacific…the Wall Street Journal reported this morning that members of OPEC have held informal talks in recent days about how to halt the recent slide in Oil prices which are currently down more than 15% since late May…
3. Ted Miller, a senior manager at Ford Motor Company, has joined Cobalt 27 Capital’s (KBLT, TSX-V) Advisory Board…Miller is Ford’s senior manager of energy storage and materials strategy and research, and his team is responsible for energy storage strategy, research and development for all Ford hybrid, plug-in hybrid and battery electric vehicles…Miller is also Ford’s representative to the U.S. Advanced Battery Consortium Management Committee…meanwhile, First Cobalt (FCC, TSX-V) remains halted in the wake of its 2 northern Ontario Cobalt Camp takeover proposals which puts Castle Silver Resources (CSR, TSX-V) in the front row in terms of, what’s next in this prolific district?…CSR is up a penny at 26 cents, just a few pennies off its multi-year high…
4. The Venture is down 2 points at 768 as of 7:00 am Pacific…the TSX is unchanged while the Dow has shot up 106 points…Aurora Solar Technologies (ACU, TSX-V), a big gainer last week, has bounced back from yesterday’s retreat to 26 cents with news this morning that it has reached an agreement with one of the world’s largest solar panel manufacturers to examine capabilities and applications for the use of the company’s Decima Gemini measurement system and Veritas process visualization system for its bifacial cell technology…
5. Tinka Resources (TK, TSX-V) has intersected more high-grade Zinc at South Ayawilca, including 29.3 m at 10.4 % Zinc, 17 g/t Ag & 278 g/t Indium from 271.4 m depth, confirming the continuity of high-grade Zinc mineralization in 2 separate replacement bodies (mantos) at South Ayawilca over a strike length of at least 300 m…the lower sulphide manto is believed to be continuous over a 1 km strike from South Ayawilca to Central Ayawilca…
6. Klondike Gold (KG, TSX-V) reported this morning that Frank Giustra’s Fiore Financial Corp. purchased another 135,500 shares of the company, boosting Giustra’s direct and indirect holdings to 9,641,664 common shares which represents 14.36% of the outstanding shares of KG…last week, KG announced that visible Gold was identified in each of the first 4 drill holes logged in detail at its promising Lone Star target in the Yukon…13 diamond drill holes have intersected the prospective target horizon adjacent to the newly recognized Bonanza fault…drilling is continuing, averaging 1 complete hole per day…
7. Rockhaven Resources (RK, TSX-V) has commenced a 16,000-m diamond drilling program, geophysical surveys, soil geochemical sampling and metallurgical test work at its 100%-owned and road-accessible Klaza Property in the Dawson Range Gold belt of the southern Yukon…diamond drilling will utilize 2 drills and is aimed at further definition and expansion of near-surface mineral resources through infill and step-out drilling at the Klaza and BRX zones, while exploratory drilling will also be carried out to test numerous geophysical and soil geochemical targets located close to the known resource areas…
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