Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,346 and $1,358 so far today…as of 7:00 am Pacific, bullion is down $1 an ounce at $1,346…continued weakness in the greenback and doubts that the Federal Reserve will raise interest rates a third time in 2017 amid sluggish inflation pushed Gold to a new 52-week high overnight with the yellow metal on track for its 3rd straight weekly gain…Silver has slipped 5 cents to $18.05 as it grapples with resistance at $18.10, but charts indicate it has a high probability of overcoming that wall relatively soon…base metals have eased off this morning with Copper down 7 cents to $3.05 while Nickel has corrected 19 cents to $5.28… Crude Oil is 15 cents lower at $48.94 while the U.S. Dollar Index has fallen another one-third of a point to 91.07…
2. Bloomberg Intelligence’s Mike McGlone, who was calling for Gold to bust through $1,300 an ounce in early August – over a week before the metal actually did – is now calling for $1,400 Gold. “Unless the dollar suddenly shifts to sustained strength and the CBOE Volatility Index (VIX) plunges, Gold should have few options but to continue higher,” the commodities strategist noted in a report yesterday. “Gold appears on a mission to convert the $1,300 handle to $1,400.”
3. North Korea reportedly moved an ICBM toward its west coast earlier this week, according to the South Korean paper Asia Business Daily…the rocket was moved in the overnight hours, apparently to avoid detection…if the test is conducted, it would be the 14th one since February…North Korea has fired 21 missiles this year and last Sunday’s nuclear test was the 6th one in its history…the rogue nation’s version of America’s Independence Day is tomorrow, so expect some fireworks from Kim Jong-un…
4. As Hurricane Irma takes direct aim at Florida, the most powerful earthquake in a century has struck Mexico’s southern coast…meanwhile, GoldQuest Mining (GQC, TSX-V) reported this morning that Irma has had minimal impact on its operations in the Dominican Republic…GoldQuest’s operational area in the San Juan province experienced heavy rains but not the severe high winds which impacted northern parts of the DR and other islands in the Caribbean…as a prudent precaution, the company paused field activities yesterday and anticipates returning to its programs including drilling at the Cachimbo discovery tomorrow…
5. Hurricanes Harvey and Irma actually will lead to increased economic activity over the long run, New York Fed President William Dudley told CNBC in an interview this morning…speaking just as Irma is about to start battering Florida as a Category 4 storm, Dudley said the initial impact in both human and economic costs will be harmful…but in the long run, economies tend to snap back from such major events. “Those effects tend to be pretty transitory,” Dudley stated. “The long-run effect of these disasters unfortunately is it actually lifts economic activity because you have to rebuild all the things that have been damaged by the storms.”
6. The Venture is off slightly at 774 through the first 30 minutes of trading as it continues to grapple with resistance in the 770’s…another strong week for Garibaldi Resources (GGI, TSX-V) which is on track for its 10th consecutive million share trading day…the stock has traded at least a million shares in 24 out of the last 29 sessions thanks to a growing realization of an important new Nickel-Copper-rich sulphide discovery, the only such system in the entire Golden Triangle…helicopter reconnaissance in the area is showing increased activity along the Nickel Mountain-Kirkham (Metallis) Property border…Granada Gold (GGM, TSX-V), unchanged at 4.5 cents, has hit extreme oversold conditions…the TSX is off 22 points while the Dow has slipped 29 points as of 7:00 am Pacific…
7. Tweed Farms, a wholly owned subsidiary of Canopy Growth (WEED, TSX) and operator of the largest known licensed cannabis production facility in the world, has finalized the purchase of a parcel of land adjacent to its current facility in Niagara-on-the-Lake, Ontario, including an operational 458,000-sq. foot greenhouse…in addition to the newly acquired asset, construction has commenced on an additional 212,000 sq. feet of state-of-the-art greenhouse to be located on the current Tweed Farms property, to be completed by April, 2018…all told, Tweed Farms will soon be home to over 1 million sq. feet of greenhouse space under glass, plus post-harvest facilities…WEED has jumped 36 cents to $9.37 after 30 minutes of trading…
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
MTS hit a new high today…I bought a few more this morning at 51c…..looks good.
Comment by John - BMR — September 8, 2017 @ 8:28 am
MTS also added some on the way up here. I wonder if they could do a GGI style run and head for a buck. I suppose if they found GGI like rocks on their land they would..
Comment by large — September 8, 2017 @ 8:49 am
Did MTS just find something of note? 62 cents and climbing.
Comment by Marshall — September 8, 2017 @ 9:20 am
MTS . in case anyone missed it last year when Jon said MTS had great shr structure, it hasn’t changed. 25MM FD. a mkt cap of $25MM in this area is peanuts based on the 2 drill plays MTS has underway and then add in the comments over the past couple days over activity at the border. ye ow
Comment by david — September 8, 2017 @ 10:19 am
Is MTS lifting up GGI or vice versa?
New highs on both.
Comment by Marshall — September 8, 2017 @ 10:24 am
MTS, up 60% today, whats up???
Comment by diesel — September 8, 2017 @ 10:33 am
Diesel, perhaps some people just discovered they’re active at Kirkham and hold ground contiguous to Nickel Mountain…tight share structure as David pointed out…
Comment by Jon - BMR — September 8, 2017 @ 10:37 am
Jon, I guess thats possible, took everyone long enough.
Also they need no immediate cash!
Comment by diesel — September 8, 2017 @ 10:43 am
Jon
If Nickel Mountain turns out to be for real, would you think it might be best for GGI to spin off the Mexico properties and maybe the Grizzly?
Comment by Bryan — September 8, 2017 @ 10:56 am
I have to give credit where credit is due, it is easy to be all giddy and have an extra step in your giddy up when the stock prices of the plays you hold are going up, its an entirely different story when for years they did nothing, I had a lot of doubts about GGI and Regoci, I know they haven’t announced that they have hit massives yet, but as Jon keeps pointing out, look at the facts, and the facts are there and are now being proven up as I type. If it wasn’t for Jon putting up with me and holding my hand from time to time I wouldn’t be here today holding GGI, there are times and one just recently where if I was Jon I would have told me to take a hike and gave me my money back for my subscription, which I have no doubt he was probably close to doing. Very soon in my opinion the entire Jr mining stock industry is going to know who BMR is and who Jon,John and Daniel are as well. I’m sure there are already many right now today that do. I’m also sure that many of the so called big name newsletter writers out there will never give BMR the credit they deserve when this is all said and done. I just want to say thanks to Jon and BMR for hanging in there for your subscribers and I apologize for the idiot I have been as well… THANK YOU
Comment by Gregh — September 8, 2017 @ 10:59 am
looks like someone put the brakes on GGI &MTS
Comment by bc guy — September 8, 2017 @ 11:07 am
Very nice post ,GregH..tho.. far,far from an idiot.I’m just happy the wife’s off your back!! Lol Cheers Bud!!
Comment by GregJ. — September 8, 2017 @ 4:27 pm
And, No.. The so called gurus will not give BMR credit.I can think of at least 2( parasites) who might try themselves!!And I won’t mention their names.. but, time will tell.
Comment by GregJ. — September 8, 2017 @ 4:52 pm
GGM…some long awaited good news!
Castle Silver to process minerals from Granada mine
2017-09-08 18:46 ET – News Release
See News Release (C-CSR) Castle Silver Resources Inc
Mr. Frank Basa of Castle Silver reports
CSR SIGNS MOU FOR PROCESSING OF MATERIAL FROM GRANADA GOLD MINE
Castle Silver Resources Inc. has signed a memorandum of understanding (MOU) with Granada Gold Mine for the consideration of the processing of mineralized material from the Granada mine over the next three years just across the border in Northern Ontario.
As part of the MOU, Castle Silver is undertaking a study to install a 600-tonne-per-day gravity flotation plant at one of its two properties where mills have operated in the past. Potential synergies exist in terms of processing Granada material while also advancing Castle Silver’s overall objectives in the burgeoning Northern Ontario cobalt camp as outlined in earlier news releases.
Castle Silver and Granada Gold share common directors and qualified persons.
Qualified person
Claude Duplessis, PEng, of Goldminds Geoservices Inc., a geological, environmental and mining consultant, is an independent qualified person in accordance with National Instrument 43-101, and has reviewed and approved the contents of this news release.
About Castle Silver Resources Inc.
Castle Silver Resources (formerly Takara Resources Inc.) is a TSX Venture Exchange-listed junior natural resource company focusing on the exploration and development of former silver and cobalt mine properties in Northern Ontario, including the Castle Silver mine near Gowganda, and the Beaver and Violet mines near Cobalt.
We seek Safe Harbor.
Comment by Bob — September 8, 2017 @ 4:57 pm
Jon,
Your view on GGM/CSR latest NR? MOU to process GGM material at Castle in Ontario. Have a good weekend…
Arjan
Comment by Arjan — September 8, 2017 @ 5:07 pm
I agree Arjan, any Comments??
Seems like Cobalt Ont has taken a back seat lately….BUT does that mean we should accumulate?
Golden Triangle is at the ForeFront and For good reason.
However if CSR can provide great drill results and proof of concept do they soar above the other contenders, CPO and FCC????????
Comment by diesel — September 9, 2017 @ 5:01 pm
This is a huge week coming up for Cxo Jon and john! Whether it’s to the good or bad will be determined with their first results of the year! They have been drilling for well over 2 months now with other teams on the ground at other projects…big week coming or months!!
Comment by Greg — September 10, 2017 @ 7:09 am
CXO won’t disappoint, Greg. Neither will GGI or MTS. All three are within Eskay Camp geological hot spots that are being aggressively explored and drilled. These three are ramping up, going into overdrive vs. their peers within the district.
Comment by Jon - BMR — September 10, 2017 @ 8:51 am
GGI: that is quite of a chart, most technical indicators are *very* bullish…
http://www.stockta.com/cgi-bin/analysis.pl?symb=GGI.C&cobrand=&mode=stock
Comment by rgiroux — September 10, 2017 @ 8:51 am
Jon, any signs of the 2nd drill rig for GGI yet?
Comment by pole — September 10, 2017 @ 9:28 am
Arjan/diesel…I believe there are very positive developments for
GGM/CSR going on behind the scenes that will renew our long-tested
faith in Frank and co.
Comment by Bob — September 10, 2017 @ 4:10 pm