Check back later for Daniel’s Den and visit the comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,326 and $1,338 so far today…as of 7:00 am Pacific, bullion is unchanged at $1,339 an ounce…over the past 2 decades, September has proven to be Gold’s best month of the year with gains 70% of the time and an average return of 2.6%…Silver is up slightly at $17.93 with key resistance around $18.10…Copper is off slightly at $3.11 while Nickel has slipped 5 cents to $5.41…Cobalt prices continue to trade just shy of $28 a pound…Crude Oil is 39 cents higher at $49.04 while the U.S. Dollar Index is relatively flat around 92.20…holdings of Gold by global exchange-traded funds rose by 31.4 tonnes during August, according to the World Gold Council in a new monthly report issued today…for the year to date, global Gold-backed ETFs have added 143.5 tonnes, equivalent to $5.3 billion, the Gold Council said…European funds have the most inflows so far this year at 131 tonnes, accounting for nearly 79% of all inflows worldwide…North America inflows are 22 tonnes while Asian ETFs posted outflows of 10 tonnes…
2. The loonie has added more than a full cent to 81.95 as the Bank of Canada this morning has hiked its key interest rate by one-quarter of a point to 1.0%, the 2nd time this year the central bank has moved the benchmark higher…the bank cited Canada’s stronger-than-expected economic performance for the hike, warranting a removal of some of the “considerable” stimulus that has been in place for an extended period…at the same time, however, the bank cited concern about continued excess capacity, subdued wage and price pressures, risks associated with geopolitical events and the rising Canadian dollar, along with worries about the impact of higher interest rates on indebted households…
3. The introduction of a federal carbon tax could “shrink” Canada’s GDP by as much as $3 billion in 2018 and lead to a slight depreciation of the Canadian dollar, a new report says…in a study released yesterday, the Conference Board of Canada said the tax could cause a broad slowdown in economic activity as “higher energy prices ripple throughout the economy”…prices for natural gas, gasoline, electricity and other goods will rise, collectively raising costs of goods and services…we can thank climate change fanaticism, Canada’s new religion, for that…meanwhile, almost half (47%) of Canadian employees say they’d be hard-pressed to meet their financial obligations if their paycheques were delayed by even a week, according to a new survey today from the Canadian Payroll Association (CPA)…
4. The Venture is up 2 points to 781 through the first 30 minutes of trading…Garibaldi Resources (GGI, TSX-V) has hit another new decade high of $1.16 with the second hole in progress at Nickel Mountain, 11 miles southwest of Eskay Creek…southern neighbor Metallis Resources (MTS, TSX-V), with only 23 million shares outstanding and in the midst of its own drill program and regional exploration, is up a penny at 47 cents…initial assay results from continuing drilling at the KSP Project are expected soon from Colorado Resources (CXO, TSX-V) which is seeing upward pressure as well this morning…results from the first 5 holes drilled this year into the Iron Cap deposit at Seabridge Gold’s (SEA, TSX) KSM Project could warrant significant changes to the project’s mine plan which could substantially improve the overall economics, the company reported this morning…4 of the 5 holes have long intercepts with Gold grades above 1 g/t…elsewhere in B.C., Barkerville Gold (BGM, TSX-V) has drilled 53.26 g/t Au over 11.55 m in the Shaft zone in ongoing Phase 2 Island Mountain drilling at its flagship Cariboo Gold Project…the high-grade result from infill drilling was at a vertical depth of 400 m below surface and helps further define wide corridors of sandstone-hosted high tenor veining open for expansion in all directions in the Shaft zone…a jump in Silver prices is helping Maya Gold & Silver (MYA, TSX-V) which is producing and exploring in Morocco…the TSX is off 8 points while the Dow has recovered 66 points after yesterday’s slide prompted by nervousness surrounding North Korea…
5. Critical Elements (CRE, TSX-V) is up slightly in early trading after releasing positive Feasibility Study results on the Rose Lithium-Tantalum Project in James Bay, Quebec…highlights include after-tax NPV of $726 million (at 8% discount rate) and after-tax IRR of 34.9% based on price assumptions of $1,500 (U.S.) per tonne technical grade Lithium concentrate, $750 (U.S.) per tonne chemical grade Lithium concentrate, and $130 (U.S.) per kg Tantalum pentoxide…estimated initial capital cost is $341.2 million before working capital…anticipated construction time to start of production is 21 months…expected life of mine of 17 years…
6. First Cobalt (FCC, TSX-V) announced this morning that it has filed an independent National Instrument 43–101 technical report on its Greater Cobalt Project located near Cobalt, Ontario…the project area covers 43 sq. km in the neighbouring historic towns of Silver Centre and Cobalt…the report describes the geological setting of the Camp and provides a detailed history of past production, noting that 3 historic mines within the Greater Cobalt Project (the Keeley, Frontier and Bellellen mines) produced an aggregate of 3.3 million pounds of Cobalt and 19.2 million ounces of Silver…by assuming the Woods Vein accounted for 70% of Cobalt production from Keeley-Frontier, the technical report concludes that the average feed grade was about 0.8% Co and possibly higher due to unreported Cobalt content in Silver concentrates…Trent Mell, President & CEO, commented: “The technical report supports our position that the Cobalt Camp has the potential to host new Cobalt discoveries amenable to bulk mining. A 7,000-m drill program at Keeley-Frontier and the surrounding region commenced August 8 and we look forward to announcing the first assay results in the near future.”
7. Cornerstone Metals (CCC, TSX-V) has completed its due diligence on the Carlin Vanadium Project and is proceeding to the definitive agreement stage…the company announced just under a month ago that it had entered into a non-binding LOI with Americas Gold Exploration Inc., a private Nevada corporation, to acquire a 100% interest in its underlying option agreement on the Carlin Project which features one of the largest known primary Vanadium deposits in the United States…SRK Consulting Inc. reported an NI-43–101 Inferred mineral resource in a 2010 technical report, outlining Inferred resources of 28 million tons (289 million pounds V205) at a weighted average grade of 0.515% Vanadium-pentoxide (V2O5) using a cut-off-grade of 0.30% V205…CCC is trading at 8 cents for a market cap of only $1.8 million…
The Nickel Mountain “Magma Highway”
Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember
How To Bring A Junior Resource Market To Life!
Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies
The Most Important Venture Development Since The New Bull Market Began
GGM is currently trading at .045! Do you have any insights into the weakness of this stock’s share price? Thanks in advance. The big shark at .05 is scaring the little fish.
Comment by mike — September 6, 2017 @ 8:49 am
Looks like fund selling to me on GGM, Mike, and contrarians will interpret that positively. The big shark at .05 is scaring the little fish.
Comment by Jon - BMR — September 6, 2017 @ 8:56 am
Well I hope you are right about that, I have begun to worry that I’ve missed something with this company, that others are seeing, as I continue to wait for fair valuation of the assets.
Comment by mike — September 6, 2017 @ 12:18 pm
Great day for Eskay Camp plays despite a modest pullback in Venture…Daniel’s Den highlights some other situations shortly.
Comment by Jon - BMR — September 6, 2017 @ 12:29 pm
Well how many are still holding their GGI shares? Curious to see how many have completely sold out of their positions. I’ve sold 270000 shares and will hold the remaining 250000 shares to see how this all plays out. It continues to amaze me with its strength.
Comment by Weatheritout80 — September 6, 2017 @ 2:25 pm
well most of us are not as well off… and it makes a lot of sense to 50% sell… but…. when Noront hit, I send the intercepts to my Geo friend.. and he immediately asked which company it was… the stock went to 7 bucks based on Eagles Nest alone.
it is only because of the liberal gov and FN BS that has caused the company to be a possible has been.. need all the things that a mine needs..
GGI does not have any of those problems.. and if the tenors are accurate, the assays can easily move the stock to 4 bucks if not more over 6 months..
so my measly 90K shares will give me a better life:) I am hanging on for dear life!!
Comment by Jeremy — September 6, 2017 @ 3:48 pm
I have not sold a share of GGI.
Comment by John - BMR — September 6, 2017 @ 4:21 pm
Awesome John… love your confidence!!!
Comment by Weatheritout80 — September 6, 2017 @ 4:23 pm
Wow John!. Now that’s confidence. You should have posted that earlier before I unloaded 20% of my shares, just for peace of mind, but still have lots to make me rich if they hit big!
Comment by Dan1 — September 6, 2017 @ 4:29 pm
Weatheritout80…I’ve sold 40,000 shares in the last 2 days.. with 220,000 remaining, and most likely going to hold on to the rest… and feeling a heck of a lot better doing so.. Been sitting on those shares for 2 years..gotta take some profit !!!!Also , almost totally liquidated ABN yesterday.. less 40K shares.. and GGM.. dumped it all.. for a break even. Cheers!!
Comment by GregJ. — September 6, 2017 @ 4:43 pm
As per post 6., me neither.
Thought I was crazy but after Jon’s post, I am ecstatic. This is his baby, and he knows way more than I ever will.
Thanks Jon!
DJD
Comment by DJD1 — September 6, 2017 @ 4:44 pm
I have only sold enough (53,000) to give me free shares of 250,000 which I will hold
Comment by lashbee — September 6, 2017 @ 4:44 pm
Neither have I, I have my plan in place if for some reason it doesn’t work out I will still make some money here. Funny I have never had anyone tell me this before but a Geo that has been following this told me after the last NR that I was going to be filthy rich… And he doesn’t even know how many shares I hold he just knows my very low average, my wife and I had a really good laugh…
Comment by Gregh — September 6, 2017 @ 4:56 pm
Awesome.. lots of people still with good positions
Comment by Weatheritout80 — September 6, 2017 @ 5:01 pm
Sorry,
Was referring to Jon’s post, about not selling.
DJD
Comment by DJD1 — September 6, 2017 @ 5:03 pm
Jeremy. Measly 93K shares!!!lol.. Wife holds 80k and is absolutely estatic! so..Jon, John, and Daniel T. ..she thanks you guys.. sincerely!!!!
Comment by GregJ. — September 6, 2017 @ 5:12 pm
Ok, time to buy back the ones I sold today. LOL
Comment by Dan1 — September 6, 2017 @ 5:16 pm
Hi Jon, I know you said you will provide an update on CSR in due course, i.e. when they will issue an NR. Any idea when this will be? Should be pretty soon no? Also, have you done the math of the free shares beginning trading recently? Maybe NR after free shares are depleted?
Thx, Richard
Comment by rgiroux — September 6, 2017 @ 5:21 pm
Dan1.. too funny. I was thinking the same thing.. buying them back!!!
Comment by GregJ. — September 6, 2017 @ 5:51 pm
It is really good to see our readers are trading with a plan.
I believe the total plan should be in place before you actually buy the stock and don’t copy some other trader’s plan. He will probably execute it differently to you with different results, just formulate your own plan to suit you.
That is why I never say how I trade.
Well done folks…we at BMR are proud of you.
Comment by John - BMR — September 6, 2017 @ 6:14 pm
90K isnt measly in my books.. in comparison to some it is.. when GGI gets to 5 bucks it will help my retirement huge.. it is because of my age and current financial state that determines my moves..
we all have different requirements based on age and needs.. wishing all of us here all the best in our endeavors..
Comment by Jeremy — September 6, 2017 @ 7:35 pm
I, also like John haven’t sold any shares of GGI up to this moment, and have been messing about with penny stocks for a very long time. I must confess that I am becoming quite nervous to the possibility of seeing my paper profits get eroded away. Over these many years I have probably lost more than I have gained, but have always dreamed of making a 10 bagger along the way. If GGI makes it to 1.30 I will have fulfilled that dream. If we achieve this number I will for sure lighten up. Congratulations for a stock great pick to all at BMR.
Comment by simone — September 6, 2017 @ 8:51 pm
I have not sold a single share of GGI.
Comment by jasi — September 6, 2017 @ 8:51 pm
Ive sold 25% of my shares so far, half of that 25% I sold today. If it pulls back I will repurchase what I sold today. If it doesn’t my profits are still healthy and running.
Comment by DBReese — September 6, 2017 @ 9:16 pm
Still holding all my shares and very happy with them.
All the best to everyone. Again thank you to BMR for the coverage.
Comment by Charles — September 7, 2017 @ 4:34 am
Still holding my 549K shares @ 0.15CAD.
Comment by Kalkan — September 7, 2017 @ 5:09 am
A leading question as well as a voting question… how far will GGI go?? is it dangerous to pick a target?
and what would that target be?? remembering Noront went to 7.. and Voseys bay to 20 on assays..
Comment by Jeremy — September 7, 2017 @ 5:25 am
I truly think that 4-5 bucks b4 assays is real, and the to 10 if the assays are as they feel it could be… if they are not then back to a buck.. maybe lower
Comment by Jeremy — September 7, 2017 @ 5:27 am
Seriously, do you GGI sellers really think that this rocket is going to backtrack and wait for you? Not likely.
Jon said to hold on to your precious shares. The man knows.
Comment by Marshall — September 7, 2017 @ 6:02 am
Interesting developments…couple of companies staking land next to GGI E&L…Durango and Spearmint…
Spearmint Acquires the “EL North” Nickel-Copper Prospect in the Eskay Creek Mining Camp Within the Golden Triangle in B.C., Canada.
Vancouver, British Columbia–(Newsfile Corp. – September 7, 2017) – Spearmint Resources Inc. (TSXV: SRJ) (OTCBB: SPMTF) (FSE: A2AHL5) (“SRJ” or the “Company”) wishes to announce that it has acquired a 100 percent interest in the “EL North” Nickel-Copper Prospect in the world renowned Eskay Creek Mining Camp in the Golden Triangle of British Columbia. This prospect borders Garibaldi Resources Corp (GGI.v). Garibaldi announced on September 1, 2017 that they “intersected two long intervals of nickel-copper sulphide mineralization totaling 176 meters and consisting of pyrrhotite-pentlandite-chalcopyrite in the first drill hole…” This new prospect consists of 1,975 contiguous acres.
James Nelson, President of Spearmint stated, “We have witnessed significant market attention in the Golden Triangle and specifically the Eskay Creek Camp since Garibaldi announced intersecting two long intervals of nickel-copper sulphide mineralization last week. We are very pleased to be able to add to our growing stable of properties in the Golden triangle. This now gives Spearmint five separate prospects in the Golden Triangle.”
Spearmint has also just recently acquired a 100-per-cent interest in four separate gold prospects located in the Golden Triangle gold district in British Columbia. These new prospects directly border GT Gold Corp’s (GTT.v) Tatogga Lake prospect.
Spearmint Resources Inc. is a Canadian junior resource exploration company dedicated to the aggressive pursuit of world class mineral deposits. Spearmint’s current projects include two areas of focus on gold in British Columbia; the ‘Golden Triangle Gold Prospects’ comprising of four separate claim blocks totaling 4,095-acres bordering GT Gold Corp (GTT.v), and the ‘Gold Mountain Prospects’ comprising of three separate claim blocks totaling 1,245-acres bordering Barkerville Gold Mines (BGM.v). Spearmint’s 1,975 acre ‘EL North’ Nickel-Copper prospect in the Eskay Creek Camp borders Garibaldi Resources Corp (GGI.v). Spearmint’s ‘Chibougamau Vanadium Prospects’ comprising of five separate claim blocks totaling 9,735-acres borders the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project, Vanadiumcorp Resource Inc. (VRB.v) and Vanadium One Energy Corp. (VONE.v). Spearmint’s portfolio of lithium projects include the ‘Clayton Valley Lithium Prospects’ in Nevada comprising of two claim blocks totaling 800-acres bordering Pure Energy Minerals (PE.v), and three lithium projects in Quebec including the 4,485-acre ‘Pressiac Lithium Prospect’, the 524-acre ‘Whabouchi Lakes Lithium Prospect’, and the 2,636-acre ‘Whabouchi Lakes West Lithium Prospect’.
Spearmint is also currently in the process of creating location maps for our properties as well as updating the website.
If you would like to be added to Spearmint’s news distribution list, please send your email address to [email protected]. This new prospect was acquired via MTonline.
Contact Information
Tel: 1604646-6903
http://www.spearmintresources.ca
“James Nelson”
President
Spearmint Resources Inc.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release
Comment by Foz1971 — September 7, 2017 @ 6:03 am
Well, just couldn’t help myself – picked up more GGI this morning
Comment by Dan1 — September 7, 2017 @ 6:55 am
Marshall – I seriously think that this rocket is going to backtrack. They usually do. How much and if and when is anybody’s guess. Its always prudent to take some off the table to protect yourself and let the rest run. Yes I agree Jon knows, and I am so truly thankful for his and the BMR crews hard work and insights, but his trading strategy can never work for anyone but himself. IMO.
Comment by DBReese — September 7, 2017 @ 7:19 am
Lol , awesome on the GGI.!! Picked up some SRJ..Didn’t do a whole lot of DD.. but their properties are definitely in the right areas. Also , NIC, trading a few shares this am.
Comment by GregJ. — September 7, 2017 @ 7:26 am
SRj – any idea where this is contiguous to GGI? thought it was all locked u. the distance from Anon D to the border w MTS isn’t much and there is no one in between that
Comment by david — September 7, 2017 @ 7:46 am
It’s to the north, David, but irrelevant as far as I’m concerned because Spearmint will never do anything with it…just a closeology play on their part…the really significant ground in the immediate vicinity of Nickel Mountain is held by MTS…and they’re active on the Kirkham…
Comment by Jon - BMR — September 7, 2017 @ 8:19 am
Jon how much tree shaking do you expect before the next NR? At all surprised with today’s trading so far? Thanks.
Comment by TD75 — September 7, 2017 @ 8:29 am
Love the trading in GGI today, TD75…a little bit of healthy profit taking and a significant group of investors (future buying power) who still aren’t taking things seriously enough, but that’s what makes a market…
Comment by Jon - BMR — September 7, 2017 @ 8:39 am
Just refilled on the GGI.I couldn’t help myself either. Also took some VIO this morning though a small position as I know nothing about it except that they own a piece of Aurvista Gold Corp.
Comment by DBReese — September 7, 2017 @ 8:43 am
SRJ – to the north . as in above PSP? if so. geesch. what about the fractional that DGO found?
Comment by david — September 7, 2017 @ 9:03 am
What’s that saying go big or go home…
then there is that other saying… bulls make money, bears make money and pigs get slaughtered, hope I don’t end up in the slaughter house… again.. lol
Comment by Gregh — September 7, 2017 @ 9:22 am