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November 22, 2016

7 @ 7:00

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Check back later this morning for today’s Morning Musings.

1. Doubleview Capital (DBV, TSX-V) is seeing something it likes a lot at the Hat Property where drilling recommenced early this month…230 core samples from drill hole H-26 (comparable to the number of samples submitted for H-23 which returned the best results yet at the property) have already been delivered to the lab for analysis, and even without assays DBV confirms that the Lisle Zone Gold-Copper porphyry deposit has been expanded as per a news release within the last 30 minutes…core photos show an abundance of chalcopyrite (including massive) and pyrite mineralization…2 holes have been completed in this fresh round of drilling while a 3rd hole is in progress…DBV remains on the cusp of a breakout above a long-term downtrend line…the stock is unchanged at 8.5 cents as of 7:00 am Pacific

2. Volume surge in Copper producer Atico Mining (ATY, TSX-V) this morning which is up 2 pennies at 83 cents on more than 800,000 shares as of 7:00 am PacificATY has reported the discovery of an outcrop of massive sulfide breccia approximately 4.5 km northwest of the El Roble mine in Colombia…El Roble has strong exploration upside and is also producing profitably, churning out 4.5 million pounds of Copper, 2,813 ounces of Gold and 8,893 ounces of Silver in Q3…that’s a 39% increase in Copper over the same period last year…

3. Odds of an OPEC production cut are looking more favorable with WTIC touching a 3-week high yesterday and holding steady this morning….the Saudis are leading an effort to cut the cartel’s production to between 32.5 million and 33 million barrels per day compared to its recent record output of around 33.8 million bdp…the OPEC meeting is a week from tomorrow (Nov. 30)…

4. Zinc prices hit a fresh multi-year high this morning of just over $1.18 a pound…a Zinc stock with momentum early this week is Canada Zinc Metals (CZX, TSX-V) which hit a new 52-week high of 48 cents yesterday…Teck and partner Korea Zinc Co. Ltd. started a drill program at the Pie-Yuen-Cirque East properties, optioned from Canada Zinc, in September, while CZX went to China last month to meet with one of that country’s largest Copper smelting companies (state-owned) which holds a 32% equity interest in Canada Zinc

5. While U.S. equity markets are at new all-time highs this morning, the Venture is off 8 points at 740 in early trading with Gold off slightly and the cannabis sector under pressure due to more profit-taking…there was also a report this morning that Veterans Affairs Canada is set to “reduce substantially” the amount of medical marijuana for which retired soldiers can seek reimbursement…on the TSX, Canopy Growth (CGC, TSX) fell as low as $9 (its rising 20-day moving average) during the first half hour of trading…CGC has not fallen below its 20-day SMA since its big run started in late July…

6. IDM Mining (IDM, TSX-V) has drilled 13.2 m true width @ 15.2 g/t Au and 49.9 g/t Ag in an AV Zone infill and metallurgical hole at Red Mountain…in addition, the company has discovered a new zone approximately 50 m to the west in the hangingwall from the JW zone in hole U161210 with 8 m true width at 6.4 g/t Au and 7.4 g/t Ag…the stock is up half a penny at 14.5 cents as of 7:00 am Pacific

7. Updated charts on WTIC, Cannabix Technologies (BLO, CSE) and Canadian Zeolite (CNZ, TSX-V) in today’s Morning MusingsBLO and CNZ are pushing toward support in early trading…

9 Comments

  1. Jon/John… this weed pullback is to reset the momentum yes?? or is it more than that?? cant Dave be right now can we?????

    Comment by Jeremy — November 22, 2016 @ 7:18 am

  2. This sector has a lot of long-term staying power, Jeremy, so I’m interpreting the pullback as just that…a healthy reset from what became temporarily very overbought conditions a week ago with all those circuit breaker halts…CGC and APH have both corrected down to their 20-day SMA’s…

    Comment by Jon - BMR — November 22, 2016 @ 7:25 am

  3. PMA – under heavy pressure. should we sell out or hold tight Dave?

    Comment by omega — November 22, 2016 @ 8:44 am

  4. Good question Omega. They sign the deal with south energy in December, they are off to the races. they don’t, it goes no where. Place your bets.

    Comment by dave — November 22, 2016 @ 10:56 am

  5. DBV. what you guys think of their latest drilling round ?

    Comment by Georgio — November 22, 2016 @ 12:00 pm

  6. Some of the pressure on pot stocks could be due to Jeff Sessions potential appointment.

    http://www.independent.co.uk/news/world/americas/jeff-sessions-attorney-general-marijuana-justice-department-anti-drug-laws-a7425511.html

    Comment by Mmurphy — November 22, 2016 @ 12:22 pm

  7. I commented on Sessions over the weekend

    Comment by dave — November 22, 2016 @ 1:15 pm

  8. where at Dave? I didn’t see it, nor do I see anything now? maybe i just missed it.

    Comment by Mmurphy — November 22, 2016 @ 1:45 pm

  9. Jon – thx mate… the momentum was so strong… but it is a real business… just too bad the trigger couldn’t be pulled for a quick 50K profit:) facK!!!!

    Comment by Jeremy — November 22, 2016 @ 2:02 pm

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