1. Gold has traded between $1,331 and $1,339 so far today…as of 7:00 am Pacific, bullion is unchanged at $1,333 an ounce…Silver is also flat, trading at $16.97…Copper has slid 5 cents to $3.14…Nickel has added 4 pennies to $5.80 while Zinc remains strong at $1.57…Cobalt, meanwhile, is at $36.29 a pound, up from early last week but down just slightly from Friday’s new decade high of $36.51…Crude Oil has jumped 80 cents to $64.37…the robust global economic outlook (the IMF revised its growth forecasts upward yesterday) and seasonally colder weather has led to firmer Oil demand growth, facilitating the continuation of a fall in Crude inventories toward OPEC’s recent 5-year average target…BNP Paribas has hiked its 2018 Oil price forecasts by $10 a barrel and expects WTI to average $60 and Brent $65…the U.S. Dollar Index has fallen one-fifth of a point to 90.18…
2. Cannabix Technologies (BLO, CSE), at the leading edge of marijuana breathalyzer technology, announced this morning that it has completed development of the Beta 3.0 prototype for its FAIMS-based Cannabix Marijuana Breathalyzer for law enforcement and the workplace…significantly, the device is designed to operate both independently or coupled in tandem directly to a conventional Quadrupole Mass Spectrometer (MS) device used in forensic labs…MS is considered the Gold standard in toxicology in the analysis of drugs, poisons, and metabolites due to its superior specificity and sensitivity…BLO is up 16 cents at $2.84 through the first 30 minutes of trading…
3. The Dow, which hit another new record high yesterday, has eased off 48 points as of 7:00 am Pacific…during yesterday’s session, Senate Democrats came to their senses and the chamber voted for a temporary arrangement (a bill that later also passed the House and was then signed by President Trump) to end a 3-day government “shutdown” and keep the U.S. government “open” until at least February 8…in Toronto, the TSX has retreated 51 points in early trading while the Venture is up 2 points at 900…Millennial Lithium (ML, TSX-V) is up another 14 cents at $4.48 as takeover rumors persist following the recent buyout of another Lithium player in Argentina, Lithium X (LIX, TSX-V)…China’s hunger for Lithium continues unabated…Osisko Mining (OSK, TSX) has released multiple high-grade drill results from its Lynx 4 discovery zone at Windfall Lake including 415 g/t Au over 5.9 m and 19.9 g/t Au over 8.8 m in OSK-W-17–1166-W1415…new results appear to demonstrate that Lynx 4 is developing a high-grade core similar to the Lynx 1 discovery zone…Pretium Resources (PVG, TSX) produced 70,281 ounces of Gold during Q4 at its Brucejack mine in the Eskay Camp…management expects steady state Gold production by mid-to-late 2018 as the ramp-up of mining into areas of higher-definition drilling continues…150,000 to 200,000 ounces is the estimated production range for the 1st half of the year, but that’s lower than what the market was hoping for and the stock has dropped in early trading…
4. ML Gold (MLG, TSX-V), still fighting key resistance at 28 cents, reported this morning that it has intersected 3 long intervals with visible Copper sulphide in the 2nd, 3rd and 4th drill holes at its continuing program at the Stars Project near the Huckleberry mine in central British Columbia…significantly, drill hole #4, collared 150 m southeast from drill hole #1, and toward the east, has intersected a 300 m interval starting at 25.2 m with visible chalcopyrite as veins and disseminations including massive chalcopyrite mineralization…all mineralization encountered to date begins at or close to surface, hidden by a thin layer of glacial till averaging 20–25 m…Adrian Smith, President of ML Gold commented, “We are extremely pleased with first 4 holes of the program. Hole four is the most impressive hole to date and there is no indication we have drilled within the best zone of this porphyry system yet.”
5. Skeena Resources (SKE, TSX-V) continues to release encouraging results demonstrating high-grade continuity from underground drilling at the past producing Snip mine in the northwest corner of the Eskay Camp…targeting a less densely drilled portion of the Upper Twin Zone, 2017 underground drill hole UG17–062 intersected two intervals grading 91.6 g/t Au over 3.8 m and 8.7 g/t Au over 5 m, supporting the up-dip grade and geological continuity of the Upper Twin…inclusive of historical drilling, this portion of the Upper Twin has now been traced along its dip extent for 370 m and remains open for expansion…in the footwall of the Upper Twin, drilling has also confirmed and is expanding upon the extensional veining systems that are geologically equivalent to the historically mined 130 and 150 areas…drill hole UG17–044 cut 12.6 g/t Au over 4.7 m and the geological continuity is verified by UG17–054 and UG17–055 which graded 30.4 g/t Au over 1.5 m and 23.3 g/t Au over 1.5 m, respectively…assays are still pending for 12 of the 62 underground drill holes completed in 2017…a Phase 2 underground drill program is expected to commence next month with surface drilling planned for the summer…
6. After giving some confusing signals last summer that mining sector investors found disturbing, the rogue Minister of Energy and Mines for the Dominican Republic has finally expressed his support for GoldQuest Mining’s (GQC, TSX-V) Romero Project…Minister Isa Conde has completed his review of GoldQuest’s exploitation permit application for Romero and has approved that application, sending it to the President of the DR for ratification…exploitation permits in the Dominican Republic are for 75 years, with a tax stability agreement that freezes the tax treatment for the project for a minimum of 25 years protected under the current mining law…Bill Fisher, GoldQuest CEO, stated, “We have reached agreement with the ministry as to the details of sharing the project’s benefits in a win-win formula under the existing law, where the project’s net present value and internal rate of return remain aligned with previous guidance. The company is well funded with over $20 million in treasury, and, once we receive the formal exploitation license, we will rapidly advance towards a production decision at Romero, with the first items being the full feasibility study, outlining project financing and the environmental impact study, coupled with an accelerated exploration program.”
7. Gold Standard Ventures (GSV, TSX) has intersected 237.8 m grading 2.96 g/t Au, including 93 m @ 5.06 g/t, in DS17-37 (infill hole) at its Railroad Project in Nevada…those are the thickest and highest-grade intercepts drilled to date at the Dark Star deposit, confirming once again the potential of this laterally continuous zone of near-surface oxide mineralization…Jonathan Awde, Gold Standard CEO, commented: “This drilling is designed to convert current Inferred resources to Measured and Indicated resources in support of a future prefeasibility study. Nonetheless, we also look at these holes as a second wave of exploration drilling as we discover structural features that appear to drive exceptional grades and thicknesses in certain locations. Some of these results are well in excess of what was predicted in the current resource model and the data could help us find other such occurrences. We are especially encouraged by the additions we are making to the depth dimension of the Dark Star deposit which we had not expected.” GSV has been gradually gaining momentum after hitting an important low of $1.61 late last year, just above its rising 1,000-day moving average (SMA)…
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Comment by Bernie — January 23, 2018 @ 8:27 am
PVG taking it on the chin and more today…
Comment by flyinthruu — January 23, 2018 @ 8:51 am
Jon, hoping for an update from the BMR team on your round up visit. My interest is in GGI, WHM and IMR on the resource side. Thanks
Comment by Dan1 — January 23, 2018 @ 8:55 am
Is there a chance we can get an update for AIS?
Comment by Raffi14 — January 23, 2018 @ 10:46 am
Hi Jon, Any thoughts on DM? it broke down below its 50-EMA touched the 100-EMA today and trying to push back above 50 day, obv resistance. Do you like its trend?
Comment by maxwell — January 23, 2018 @ 11:40 am
Hi Jon, Any thoughts on DM? it broke down below its 50-EMA touched the 100-EMA today and trying to push back above 50 day, obv resistance. Do you like its trend?
Comment by maxwell — January 23, 2018 @ 11:44 am
Hi Jon, Daniel,
any comment on BCK (BLIND CREEK RESOURCES). Wow, glad I hold on my shares since 1 year. Could you elaborate, have you heard anything else tha the recent news release a few days ago?
Thanks,
Richard
Comment by rgiroux — January 23, 2018 @ 2:15 pm
I’d like to hear more about IMR and AIS as well (if there’s anything new you’re aware of). From what I understand, there were rumours of a JV on IMR.. AIS meanwhile looks back-alley sketchy with Martin Element pretty much day-trading the thing.
Comment by Matt — January 23, 2018 @ 2:33 pm
Martyn* 🙂
Comment by Matt — January 23, 2018 @ 2:34 pm
Hi Jon, hoping for a update from your team on GGI, CSR, and the cannabis sector, ie, Harvest One, Invictus MD. Also what are you thoughts on Rockshield Capital Corp I have holdings in all these.
Thanks in advance,
Ed
Comment by Ejdsr1957 — January 23, 2018 @ 3:29 pm
My Buddy called it and I didn’t listen …… in fact I did the opposite …. instead of lightening up a bit on the GGI over $3.20 , I bought instead at $3.15 figuring we would hear a bit of a blurb from Management and instead ( once again ) nada nada !!! Sell off follows and of course MTS also becomes very attractive under $1.10 … AIS also looking very skiddish, but for those who bot in months ago, still a 5 bagger …… one day …. one day !!! Farmer Tom
Comment by farmer — January 23, 2018 @ 3:48 pm
Anybody know the reason for the big move in BCK (Blind Creek) today. They announced a spin off a few days ago. Jon, any rumours floating around BCK or finally just a recognition of the value here. Very happy to see this.
Comment by Danny — January 23, 2018 @ 4:09 pm
Sweet grades and lcrazy long intercepts for Gsv from near surface to oxidized core down at 235 m. Newmont must be salivating.
Comment by Donald — January 24, 2018 @ 12:42 am
I would also like to hear an update on IMR
Comment by Simon — January 24, 2018 @ 6:55 am
FArmer.. backtested the 100 day thats all…
Comment by Jeremy — January 24, 2018 @ 6:56 am
Hey Jon, any thoughts as to why market isn’t responding to the proposed CSR name change?
Comment by Shaun — January 24, 2018 @ 7:15 am
CSR name change requires board vote in Feb.
Comment by donald — January 24, 2018 @ 9:12 am
Thanks Donald. I thought a “proposed” name change might capture more attention – but can understand market wants it official.
Comment by Shaun — January 24, 2018 @ 9:51 am
The name change for CSR is a good thing but likely already built into the share price. Stocks don’t generally move on news that everyone knows is already coming.
Comment by Danny — January 24, 2018 @ 4:10 pm