Check back later today for additional post(s) and visit the BMR comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,306 and $1,310 so far today as a 2-day Fed meeting begins…as of 7:00 am Pacific, bullion is up $3 an ounce at $1,310…Silver has added 4 cents to $17.20…Copper is flat at $2.94…Nickel has fallen 10 cents to $4.96…Cobalt prices have hit a new decade high of $28.35…Crude Oil has gained 25 cents to $50.16 while the U.S. Dollar Index is off one-tenth of a point at 91.83…fund managers once again pushed their net bullish positioning in Gold to a multi-month high, although a recent pullback in prices likely means the next round of data from the Commodity Futures Commission will show that traders have exited from some of those positions…the rise in the net-long for the most recent report was the 9th straight weekly increase…Silver specs, however, still have plenty of room to grow their long exposure, thus Silver could outperform Gold over the near to short-term…
2. TD Securities on Gold: “It is likely that markets will force the yellow metal below $1,300, toward $1,290/oz in the days ahead or after the FOMC. It is also likely that, given the hope of fiscal stimulus and Fed communication stressing the possibility of more hikes, investors will be convinced to continue to take profits and lighten their heavy long exposure. In order for Gold to rally and break out toward $1,400/oz, there will need to be more certainty that the U.S. central bank will not attempt to follow the dot-plot blueprint it mapped out earlier in the year. While we do think this is possible, it is too early to tell now.”
3. Oil prices have hit a fresh 5-month high, buoyed by signals from Iraq’s Oil minister that the country could be open to extending OPEC’s production cut agreement through next year…Iraqi Oil minister Jabar al-Luaibi said today that Iraq and other members of OPEC are considering options that include a proposal for the cartel’s output cut deal to run through 2018 instead of expiring as planned in March…OPEC and non-OPEC participants are to meet in Vienna on Friday to review compliance with the deal, though investors and analysts widely expect that any decision on further cuts won’t come until OPEC’s official annual meeting in November…
4. The Dow has hit another record high, up 15 points at 22,346 as of 7:00 am Pacific as President Trump delivers his first speech to the UN General Assembly…the TSX has gained 44 points while the Venture has added 1 point to 778…Vendetta Mining (VTT, TSX-V) has discovered a new high-grade Lead/Zinc zone in an area that had no previous drilling at its Pegmont Project in Australia, highlighted by hole PVRD092 which intersected 6.2 m of 13% Lead + Zinc in the area (now called the Bridge Zone) between the Burke Hinge Zone (BHZ) and Zone 2…VTT is up a penny at 28 cents as of 7:00 am Pacific, just slightly below resistance at a gently declining 50-day moving average (SMA)…
5. Cryptocurrency miner Hive Blockchain Technologies (HIVE, TSX-V) made its Venture trading debut yesterday and is up 14 cents at $1.10 as of 7:00 am Pacific…this follows the completion of a $16.5-million equity financing, as announced on September 7, and the closing of the acquisition from Genesis Mining Ltd. of a state-of-the-art GPU-based blockchain data centre in Reykjanes, Iceland, and formation of a strategic partnership with Genesis as announced last Friday…the board of directors of HIVE have also appointed Frank Holmes as the company’s non-executive chairman…Holmes is the founder and CEO of U.S. Global Investors, an award winning asset management firm specializing in Gold and emerging markets…
6. Trading in Wolfden Resources (WLF, TSX-V) resumed this morning following a nearly 2-week halt after the company announced an agreement to acquire a 100% interest in the Pickett Mountain Zinc-Lead-Copper-Silver deposit in northern Maine…Wolfden management considers Pickett to be one of the highest-grade undeveloped VMS deposits in North America…Getty Mines Ltd. made the original discovery in 1979 using a combination of soil surveys, ground surveys and diamond drilling, but Pickett has not been explored in nearly 3 decades…new legislation introduced in 2013 and enacted this year has made the state more mining friendly…interest in the geology and potential for VMS projects like Pickett Mountain has revived with Zinc and Copper price appreciation and the opening up of Maine’s mine permitting regime under specific prescribed limitations…Wolfden has also agreed to the terms of a proposed royalty and equity-based financing with a subsidiary of Altius Minerals (ALS, TSX) to finance the acquisition…historical intercepts at Pickett include 18.7% Zn, 10.3% Pb, 1.63% Cu and 6.7 ounces per ton Ag over 7.7 m, and 14.6% Zn, 6.5% Pb, 2.7% Cu and 3.8 opt Au, also over 7.7 m (horizontal widths)… the deposit has been traced over a strike length of close to 900 m and appears to be open at depth…Wolfden plans to begin drilling in the near future with a mineral resource estimate planned for 2018…WLF is the Venture’s most active stock in early trading, up 10 cents at 28.5 cents…
7. A drill has been mobilized for Serengeti Resources’ (SIR, TSX-V) maiden exploration drilling at its UDS Property in north-central British Columbia…drilling will include testing a very strong IP geophysical anomaly associated with a robust Copper-Zinc-Gold soil geochemical response and favorable altered volcanic host rocks…UDS is 7 km northeast of the past producing Kemess South open pit mine, now owned by Aurico Metals (AMI, TSX-V)…Serengeti views the target at UDS as having the size and intensity to host a significant sulphide system at relatively shallow depth…3 holes totaling approximately 1200 m are currently planned as an initial test and the program could be expanded…SIR has been in a fresh uptrend since late June and is unchanged at 23 cents through the first 30 minutes of trading…
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Why has everything gone so eerily quiet the last couple of days. Is everyone holding their breath pending the next NR from GGI.
Comment by pole — September 19, 2017 @ 7:55 am
Should we be taking any profits on GGI.v on the $1.50 fib resistance again or ahead of the results? I know you called for profit taking in ABN at .49c which was perfect and GTT at 2.65.
Comment by large — September 19, 2017 @ 10:05 am
Wow 1.74 rumours are lighting up now the GGI boards. I think I will add more instead of taking profits 😉
Comment by large — September 19, 2017 @ 11:37 am
New high on GGI. Prelude to a PR (a great one)?
Comment by Marshall — September 19, 2017 @ 11:38 am
GGI…I have not sold a share, and for now I do not intend to.
Comment by John - BMR — September 19, 2017 @ 11:54 am
Ggm makes a 52 week low this morning at 4.5 cents. What do you make of this? What is going to get the market to see what you guys see in this company?
Comment by Mike — September 19, 2017 @ 12:01 pm
Me either Jon and I have no plans to sell till the buyout.
Comment by Murf — September 19, 2017 @ 12:06 pm
That’s what I like to hear John. I’m hanging on tightly to mine also. I have a feeling something “BIG” is on the way.
Comment by pole — September 19, 2017 @ 12:24 pm
If that’s the case John, then you must believe this is going much much higher. Then it only means one thing…………..
Comment by Dan1 — September 19, 2017 @ 1:13 pm
Guys and gals.. I am by no means a guru but I am experienced.. this is now a momentum play.. once drill results are released it may become a reverse one.. but it will become a value play once some of the PEA’s etc are created…
85 mill shares outstanding tells me that 4-5 bucks is a good target..
but all of this needs confirmation from Jon:)
Comment by Jeremy — September 19, 2017 @ 1:22 pm
John.. that’s tremendous conviction not having sold a single share. I have certainly taken some profit but I assume there are people out there (like yourself) that have better information than myself. That’s the reality.
Comment by Danny — September 19, 2017 @ 3:54 pm
Big spike on the GGI today. Potentially the shorts feeling the pressure and came into cover? If they aren’t feeling the heat yet, looks like they will be shortly!
Comment by maxwell — September 19, 2017 @ 5:32 pm
Danny…I have the same information that you have.
I have said many times each person has to have his/her own trading plan…we all think differently. Never copy another trader’s plan.
You must think it out for your situation and act accordingly.
Think about it Danny…..It does not matter a damn what other traders do…does it.
I don’t mean to preach but this is so important.
Happy trading.
Comment by John - BMR — September 19, 2017 @ 6:35 pm
Anyone catch the $240,000 insider buy today – GGI. Now that’s confidence!. John, I’m with you – not selling a single share, for now.
Comment by Dan1 — September 19, 2017 @ 6:40 pm
I can understand John’s high level of confidence. Reading between the September 1st news release lines… After GGI’s world class geo’s interrupted the data from the downhill probe, the GGI mgmt thought it was best to accelerate the drill program. That’s a big vote of confidence in my books.
Comment by maxwell — September 19, 2017 @ 6:46 pm
John..you are absolutely right, everyone must have their own trading plan. I have learned from experience to not get too greedy. If this goes to 5 or 10 bucks or higher, I won’t kick myself for selling some too early. Discipline is critical.
Comment by Danny — September 19, 2017 @ 6:55 pm
MTS…News
Metallis Resources Inc
Symbol C : MTS
Shares Issued 23,523,617
Close 2017-09-19 C$ 0.70
Recent Sedar Documents
View Original Document
Metallis arranges $1.25-million private placement
Mr. Fiore Aliperti reports
METALLIS ARRANGES $1.25 MILLION FINANCING
Metallis Resources Inc. has arranged a non-brokered private placement to raise gross proceeds of up to $1.25-million. The financing is expected to close shortly.
Private placement details
One million units will be issued at 55 cents while one million flow-through units will be issued at 70 cents. Each unit, non-flow-through and flow-through, will consist of one common share of the company and one-half of one non-transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at a price of 80 cents per share for a period of two years, subject to the following acceleration provision: If the closing price for the common shares of the company as traded on the TSX Venture Exchange is equal to or greater than $1.20 per common share for 10 consecutive days occurring any time after the expiry of the four-month hold period, then the purchaser shall have until 4 p.m. Vancouver, B.C., time of the 30th calendar day after the company’s news release announcement of the occurrence of the threshold period to exercise the share purchase warrants. The share purchase warrants shall expire on the earlier of the last day of the two-year exercise term or the accelerated expiry date. The company shall issue no other notice other than such news release.
Any finders’ fees and/or agents’ fees will be paid in accordance with the policies of the TSX Venture Exchange. The private placement is subject to exchange approval.
Proceeds from the flow-through private placement will be used for further exploration, including drilling at the company’s 100-per-cent-owned Kirkham property situated in the heart of the Golden Triangle’s Eskay camp in northwest British Columbia. Proceeds from the non-flow-through private placement will be used for general working capital purposes.
About the Kirkham Property
The 10,600-hectare Kirkham property, prospective for gold-copper porphyry, high-grade gold and base metal mineralization, is located about 65 kilometres north of Stewart within the prolific Golden Triangle. The northern border of Kirkham is contiguous to Garibaldi Resources’ E&L Nickel Mountain project, approximately 12 kilometres southwest of the Eskay Creek mine. The eastern border is within 15 to 20 kilometres of Seabridge Gold’s KSM deposit and Pretium Resources’ Brucejack mine, which is now in commercial production.
About Metallis Resources Inc.
Metallis Resources is a Vancouver-based company focused on the exploration of precious metals and base metals at its 100-per-cent-owned Kirkham property in northwest British Columbia’s Golden Triangle.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
Comment by John - BMR — September 19, 2017 @ 7:10 pm
Check BMR tonite for updates on GGI, MTS, ORG and Denver Conference…
Comment by Jon - BMR — September 19, 2017 @ 7:14 pm
Hey Jon, your safe and sound! Good to hear from you!
Comment by Dan1 — September 19, 2017 @ 7:16 pm
Thanks, Dan1, haven’t fallen out of a helicopter or into any deep glacier crevasses yet – all’s good!
Comment by Jon - BMR — September 19, 2017 @ 10:34 pm