Check back later today for Daniel’s visit and visit the BMR comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,314 and $1,321 so far today as it begins its quest for a 5th straight weekly gain…as of 7:00 am Pacific, bullion is off $1 an ounce at $1,318…Silver has pulled back 11 cents to $17.05…Copper and Nickel are steady to slightly higher at $3.22 and $5.71, respectively…Crude Oil is up 6 pennies at $61.50 while the U.S. Dollar Index is flat at 91.97…the Perth Mint’s sales of Gold and Silver products rose in December from a month ago, the mint said in a blog post on its website this morning…sales of Gold coins and minted bars rose 13% to 27,009 ounces in December from 23,901 ounces in November…Silver sales during December, meanwhile, surged a whopping 61% to 874,437 ounces…the Perth Mint refines more than 90% of newly mined Gold in Australia, the world’s second-largest Gold producer after China…
2. Hedge funds continued to pile into Gold and Silver in the week ending January 2, according to the latest trade data from the Commodity Futures Trading Commission. “Market participants are increasingly unconvinced that Trump’s tax reform will be inflationary, implying that still-muted inflation will not entice the Fed to raise rates in accordance with their dot-plots, thereby keeping the cost of holding non-yielding precious metals low,” said Bart Melek, head of commodity strategy at TD Securities…over the last 3 weeks, hedge funds have nearly doubled their net-long positions in Gold…
3. The gap between the prices fetched for Western Canadian Select and West Texas Intermediate Crude has hit a 4-year high of almost $27 (U.S.) – the direct result of a shortage of spare pipeline capacity in Canada where getting pot to market is more of a sense of urgency for politicians than getting Oil to market…Ralph Klein is rolling over in his grave…the pipeline bottleneck combined with increasing Canadian production is forcing more producers to rely on an expensive rail option which ironically also carries more environmental risks…
4. Canadian heavy Crude prices are depressed but WTIC is closing in on 3-year highs on a slight decline in the number of U.S. rigs drilling for new production and sustained OPEC output cuts…U.S. rigs declined by 5 to 742 in the week to January 5, according to data from Oil services firm Baker Hughes…despite this, U.S. production is expected to bust through 10 million barrels per day very soon, largely thanks to increasing output from shale drillers…only Russia and Saudi Arabia produce more Oil…
5. The broader equity markets are off slightly in early trading on profit taking after a robust start to the New Year last week…by March of this year, the climb from the depths of the financial crisis market low is set to reach 9 years…the overall S&P 500 gain is now 306%, not including dividends…that’s better than any other climb except the 1987–2000 glory run which was a stunning 582%, suggesting the current bull cycle still has plenty of upside potential based on an unusual combination of faster growth and ample liquidity…last week’s 2.6% S&P 500 gain in 4 days would have made it the best week of 2017, a sign of expanding risk-taking appetites and more eagerness among buyers…that sentiment is very much reflected in trading on the speculative Venture Exchange which has confirmed a key breakout above 2-year resistance at 850…
6. The Venture gapped up at the open to 908 and has built on those gains through the first 30 minutes of trading…as of 7:00 am Pacific, the Index is up 16 points at 912 with marijuana stocks leading the way…AnalytixInsight (ALY, TSX-V) has touched a multi-year high of 78 cents…the company posted its first operating profit in the 3rd quarter of 2017 (ending September 30) along with record revenues of $1.7 million, a 6-fold increase compared with the same period a year earlier…Probe Metals (PRB, TSX-V) has drilled 83.1 m grading 3 g/t Au starting from 7 m at its Val d’Or East Project in northwest Quebec…the company completed over 80,000 m of drilling last year and has launched a new 85,000-m program…a fresh resource update is expected later this quarter…Coeur Mining (CDE, NYSE) posted record Silver-equivalent production in the 4th quarter and full-year 2017, the company announced this morning…Q4 output hit a record of 11.7 million Silver-equivalent ounces which was a quarter-on-quarter gain of 23% and year-on-year gain of 17%…full-year 2017 Silver-equivalent production was the highest in the Coeur Mining’s history at 39.4 million ounces, up 9% from 2016…
7. Datametrex AI (DM, TSX-V) has pushed higher on news that it has entered into a binding LOI to acquire all of the outstanding shares of Shoptalk Analytics Group Inc., a Toronto-based data collection company focused on independent pharmacies in the United States…the proposed consideration for the transaction is an aggregate amount of $4 million (CDN) payable by a combination of cash and common shares, mostly based on Shoptalk achieving certain milestones. “The collection of POS (Point-of-Sale) and other data from independent pharmacies is an integral part of the U.S. healthcare technology market,” stated Andrew Ryu, Datametrex Chairman and CEO. “The U.S. pharmaceutical sector was valued around $446 billion in 2016. U.S. healthcare standards such as HIPAA (Healthcare Insurance Portability and Accountability Act) and HL7 (Health Level Seven International) are more prevalent than ever, and Shoptalk Analytic’s data collection platform will integrate with these standards and protocols providing vital information between healthcare providers. Datametrex sees the value of the data in this sector and how the DataTap, Nexalogy AI and Shoptalk will become a major business intelligence technology solution for the U.S. and international pharmacy market.”
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Hi Jon,
Do you have any thoughts on NOB Noble Minerals at $.11? They recently did a pp at $.17. Currently trading at $.11. Huge bids
at 9,9.5 and 10 cents in the hundreds of thousands of shares. They have over 70,000 hectares only 2 miles north of the Kidd
Creek deposit which is running out. Also a short position of over 800,000 shares. Lots of buying and could surge when shorts have to cover.
Thoughts please. Thanks
Rick
Comment by Rick — January 8, 2018 @ 9:33 am
hey Fellas … how come I’m filling my sock with AIS shares , so easily today …. #79 …. fARMER T
Comment by farmer — January 8, 2018 @ 11:29 am
AIS looking good Tom, any lower and I’ll be buying more! Right now I’m trying to accumulate IMR…..
Comment by Gregory — January 8, 2018 @ 11:38 am
New highs for CSR nice buying. See if the big block at .50 gets taken out, if it does game on!
Comment by Gregory — January 8, 2018 @ 12:10 pm
CSR touched $0.49…just waiting for that name change news…
Comment by flyinthruu — January 8, 2018 @ 12:37 pm
” THEY’RE NOT GETTING MY CYX SHARES ” …… somebuddy plz tell them !!!! Farmer T
Comment by farmer — January 8, 2018 @ 1:14 pm
Decent sized ask at 50 cents for CSR. Like to see that get KNOCKED out.
Comment by flyinthruu — January 8, 2018 @ 1:21 pm
Nice volume and price action for fnc today. Although a doji candle formed today on the chart. Tomorrow will be interesting
Comment by Tony t — January 8, 2018 @ 5:03 pm
Hi Jon,
I echo Rick’s comment above regarding Noble Mineral Exploration Inc (CVE:NOB). I’ve been following it for some time now and find the potential for a huge discovery quite compelling. I would welcome BMR’s insight on that security.
Comment by large — January 8, 2018 @ 5:05 pm
TSX Venture Volume showing 203M and up 25pts!!! Jon: Do you see this strength continuing as it looks like alot of people just came back today from holidays? Also, what year does this closely resemble? Do you also think this is the beginning of a multi-year rally for the Venture? We have not participated in the increases until the beginning of 2016 unlike the DOW,etc.?
Comment by MERIDEX — January 8, 2018 @ 7:44 pm
Jon, think some of that wall at 50 for CSR is fake or all true sellers?
Comment by Shaun — January 9, 2018 @ 4:54 am
Whatever it is, Shaun, I don’t suspect it’ll last long…
Comment by Jon - BMR — January 9, 2018 @ 5:17 am
Sounds good to me!
Comment by Shaun — January 9, 2018 @ 5:39 am
Mr. Rick Clark reports
ORCA GOLD INTERCEPTS BROAD MINERALIZATION, INCLUDING 162M AT 2.01 G/T AU AND 82M AT 2.21 G/T AU, AT ITS BLOCK 14 GOLD PROJECT IN THE REPUBLIC OF THE SUDAN
Orca Gold Inc. has released the remaining results from 2017 drilling at its block 14 gold project in the Republic of the Sudan.
HIGHLIGHTS
The addition of 12,449 metres of diamond drilling and 2,500 metres of reverse circulation drilling will form the basis of a new mineral resource estimate
Drilling tested a new geological interpretation in the East Zone (see Figure 2 in News Release), drilling perpendicular to earlier drill sections. These new holes were successful in intersecting good grade and continuity over significant widths, including:
GSDD045: 162 metres @ 2.01 g/t Au;
GSDD041: 131 metres @ 1.73 g/t Au; and
GSDD048: 82 metres @ 2.21 g/t Au
*True widths are between 50%-70% of intercept width
Drilling program will resume by end of January
BLOCK 14 DRILLING
To date, 12,449 metres (34 holes) of diamond drilling and 2,500 metres (12 holes) of reverse circulation drilling have been completed at Galat Sufar South (“GSS”) as part of an ongoing 25,000-metre drilling campaign. The results from this drilling will form the basis for a new mineral resource estimate, as part of the ongoing Feasibility Study. This new estimate is in progress and will be announced in the coming weeks.
Drilling will resume at the end of January with two rigs focused on additional resource development at GSS and Wadi Doum. Drilling at Wadi Doum will also target several high-grade shoots that have been identified at depth (see Company News Release on February 2, 2017).
Results for previously completed drilling from the programme have been announced (see Company News Releases dated October 17, November 21 and December 14, 2017). The table below sets out results for the remaining holes that will form part of the new mineral resource. These latest results continue to confirm mineral resources within the PEA pit designs (Infill) and extend mineralization below the previous resource (Outside Resource) – See Figures in News Release.
Several of the holes above tested a new geological interpretation in the East Zone (see Figure 2 in News Release), drilling perpendicular to earlier drill sections. These new holes were successful in intersecting good grade and continuity over significant widths, including 162m grading 2.01g/t in GSDD045 and 131m grading 1.73g/t in GSDD041. The solid results of these holes will assist with targeting new drilling in early 2018.
Significant results were also obtained in the Main Zone of the deposit including 48m at 2.76g/t in Hole GSDD042 and 50m grading 2.75g/t in GSDD047, which are shown in Figure 3 below and are expected to have a positive impact on the resource estimate.
Rick Clark, CEO and Director of Orca, commented, “The latest holes from Block 14 continue to strongly support an expansion of the resource base. Results are with our consultants and a new resource estimate is expected shortly, which will form the basis of the Feasibility Study on track for completion in early Q2 2018. These new results are particularly significant in that a new geological interpretation was successfully tested. This new interpretation greatly enhances our understanding of and model development at GSS and will form the basis of continued drilling. This interpretation will also direct our regional exploration at Block 14 in 2018.”
About Orca Gold Inc.
Orca Gold Inc. (TSX VENTURE:ORG) is a Canadian resource company focused on exploration opportunities in Africa, where it is currently focused on its 70%-owned Block 14 Gold Project in the Republic of the Sudan. Block 14 is situated on a 2,170 km2 concession. The Company is currently conducting a Definitive Feasibility Study on the project, which is scheduled for completion in early Q2 2018.
The Revised PEA of Block 14 (see News Release dated May 30, 2017), using a gold price of US$ 1,100/oz for mine design and US$ 1,200/oz for economic analysis, showed a project with in-pit mineral resources of 41.0Mt @ 1.46g/t for 1,928 Koz in the Indicated category and 3.4Mt @ 1.56g/t for 173 Koz in the Inferred category, a mill throughput of 3.4 Mtpa, and strong economics with an after-tax NPV7% of US$ 227.7 million and an IRR of 23.1%.
The technical contents of this release have been approved by Hugh Stuart, BSc, MSc, a Qualified Person pursuant to NI 43-101. Mr. Stuart is President of the Company and a Chartered Geologist and Fellow of the Geological Society of London. Samples used for the results described herein are prepared and analyzed by fire assay using a 50 gram charge at the ALS Chemex facility at Rosia Montana in Romania in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted.
Comment by Jon - BMR — January 9, 2018 @ 5:40 am