Visit the BMR comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,324 and $1,332 so far today…as of 7:00 am Pacific, bullion is up $2 an ounce at $1,325…reality is setting in that the U.S. government is now facing the prospect of trillion dollar annual deficits as far as the eye can see, and that should lend further support to bullion at $1,300…Silver is relatively unchanged at $16.54…Copper and Nickel are both pushing higher on the heels of President Trump’s $1.5 trillion infrastructure plan revealed yesterday…Copper is up 8 cents at $3.15 while Nickel has surged 14 cents to $6.03…Zinc is up 3 pennies at $1.59 while Cobalt continues to trade at a decade high of $36.97…Crude Oil has slipped 69 cents a barrel to $58.60 while the U.S. Dollar Index has plunged nearly half a point to 89.69…
2. U.S. government debt yields slipped this morning as investors prepare for key inflation reports…the Labor Department is set to release its monthly Consumer Price Index (CPI) data tomorrow…that report, along with the Producer Price Index (PPI) on Thursday, will be scrutinized by both traders and Federal Reserve officials for any signs of price movement in the economy…
3. The recent stock market correction and jump in volatility will not impact the economy’s overall strong prospects, Cleveland Federal Reserve President Loretta Mester emphasized this morning at a Chamber of Commerce event in Dayton, Ohio…she warned against any overreaction to the turbulence in financial markets, and added that inflation should pick up this year but not at a rate that requires a faster Fed reaction. “I expect the economy will work through this episode of market turbulence and I have not changed my outlook. In my view, the underlying fundamentals supporting the economy are very sound,” Mester stated…
4. Talk is cheap, but Canadian Natural Resources Minister Jim Carr says Ottawa will not entertain any attempts by British Columbia to stall or stop the expansion of Kinder Morgan’s Trans Mountain pipeline. “If that is the goal of any province, we will take the necessary action to ensure that federally approved resource projects proceed,” Carr stated…it’s a fair question to ask, why only now are the feds supposedly talking common sense to the B.C. government when the Green Monster made it clear months ago, upon stealing the reigns of power in the province, that it will “employ every tool available…to stop the expansion of the Kinder Morgan pipeline” (exact wording of the signed power-sharing agreement between the NDP and the Green Party)…the federal government has a great sense of urgency when it comes to legalizing marijuana and getting pot to market, but that same sense of urgency has not been applied to getting landlocked Canadian Oil to overseas markets…all of Canada is getting hurt as a result…Alberta Premier Rachel Notley says the feds have just “days” to make progress on this file or Alberta will take additional action beyond last week’s ban on B.C. wine imports (how effective that ban will actually be is questionable, but at least it got the feds’ attention)…international investors are watching closely to see if the federal government has the guts and wisdom to enforce its powers and overcome the multitude of far left green globalist activists who are leading a “War on Oil” in this country…
5. U.S. stocks have pulled back modestly in early trading after posting their best 2-day advance since the last unnecessary panic which was Brexit…the Dow has retreated 139 points as of 7:00 am Pacific…in Toronto, the TSX has slipped 67 points while the Venture is off 1 point at 823…Probe Metals (PRB, TSX-V) continues to deliver strong results from its Val d’Or East Project in northwest Quebec, setting the stage for a significantly higher valuation once Gold stocks in general finally start to gain traction…results from an additional 24 drill holes totaling over 12,000 m at Val d’Or East show expansion of all 4 Gold zones…an updated resource estimate, incorporating new drill results from the 2016 and 2017 programs, is expected shortly…mineralization at the New Beliveau deposit has been delineated over an expanded area of more than 1 km by 500 m and to a depth of over 900 m…
6. An updated mineral resource estimate for Seabridge Gold’s (SEA, TSX) Iron Cap deposit in the Eskay Camp has increased both its size and grade including a tripling of Inferred resources to 1.3 billion tonnes @ 0.48 g/t Au, 0.30% Cu and 2.9 g/t Ag (20 million ounces of Gold and 8.6 million pounds of Copper)…Indicated resources are up nearly 7% in tonnage (though down in Gold grade) to 347 million tonnes @ 0.43 g/t Au, 0.23% Cu and 4.2 g/t Ag (in total, more than 14 million net ounces of Gold have been added to overall resources)…Iron Cap is one of 4 large Gold/Copper porphyry deposits within Seabridge’s 100%-owned KSM Project…the updated resource estimate incorporates all previous drilling plus 10,400 m of diamond core drilling completed in 11 holes drilled in 2017, all of which returned wide zones of significant grade…Seabridge Chairman and CEO Rudi Fronk stated, “All our objectives at Iron Cap were more than accomplished last year. A larger, richer Iron Cap deposit is expected to take a more prominent place in our mine planning. We believe Iron Cap has the potential to make a strong contribution to improving project economics thanks to its higher grade and its favorable capital and operating costs due to its location close to planned infrastructure. Although we think that a $16 NSR is the right cutoff in the current environment, we are pleased to see that substantial tonnages at much higher grades are also possible if required in the future. Furthermore, we think that the size and grade of this deposit can continue to grow with further drilling.”
7. Datametrex AI (DM, TSX-V) is out with more news again this morning after yesterday’s mid-morning announcement…the company says that through its Nexalogy AI subsidiary, it’ll be augmenting its service offering to the Fortune 1,000 to include an artificial intelligence product that focuses on key competitive analysis and stock market awareness, allowing public companies to gather intelligence and also target specific sector campaigns more effectively…yesterday, DM jumped on mid-morning news that it has entered into a definitive agreement (through its Graph Blockchain subsidiary) to develop a large-scale graph database and blockchain solution prototype in partnership with IBM for a Korean conglomerate advancing an electric power and utility project…the solution will assist in analyzing charging stations…the value of the prototype is approximately $400,000…the project will use all of Graph’s unique IP (intellectual property), which DM says provides a compelling way of organizing, analyzing and displaying blockchain transactional data in real time…the graph database technology being developed processes blockchain data up to 1,000 times faster than traditional methods from 7 transactions per second to 7,000 transactions per second…additionally, information can be displayed much faster and more effectively…it is believed to be one of the most effective technologies to store, manage and present blockchain transactions specifically in peer-to-peer networks and has shown unique advantages for this energy-related prototype solution…
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All these stocks are suckin big time, they all lack Good IR except DM which has very good management, just too bad they have over 200,000,000 shares outstanding……..Worst start to a quarter I’ve ever seen….sure hope some of these companies get rolling!
Comment by Gregory — February 13, 2018 @ 12:28 pm
BMR, still thinking we finish February strong per previous NRs?
Comment by BigBid — February 13, 2018 @ 3:10 pm
Nice call on the morning alert. Wasn’t able to follow through because I was tied up in CSR… Ah well, every dog has its day, and I’m sure Castle Silver’s will come soon enough.
Comment by Matt — February 13, 2018 @ 3:13 pm
John, if RSI starts going up with CSR, would that qualify for forming a “W” or is that too liberal?
Comment by BigBid — February 13, 2018 @ 7:33 pm
CYX definitely looking like it may pop any day soon. DM continues to put out News and that has brought attention. FTEC also lagging, so knowing these 3 seemed to be lumped together, I’m expecting to see/hear something fairly soon on the CYX …….. Farmer T
Comment by farmer — February 13, 2018 @ 11:18 pm
Jon: any comments on IMR results? MOON pp closed very quickly!
Comment by MERIDEX — February 14, 2018 @ 5:27 am
Excellent results from IMR, Meridex – far exceeding anything found at surface by Tahoe at the adjoining 4 million ounce Juby deposit; I believe they’re going to be able to pull a lot of data and some important insights together shortly…get ready for a very exciting drill program and the possibility of a new discovery…can’t wait to get up there for a site visit during the 2nd half of the month…
With MOON, yes, the PP has closed quickly – great sign…historic deposit (Zinc-rich VMS) and we know from the Nickel Mountain experience how those can produce some pleasant surprises…10-cent play with huge upside…
Comment by Jon - BMR — February 14, 2018 @ 5:36 am
CYX .20 Bid at pre-open …. could be a good day finally as Cryptos are all up big today … Bitcoin up nearly 8% HIVE should be up with these big jumps in value …. Farmer T
Comment by farmer — February 14, 2018 @ 6:27 am
BMR, companies like Katanga, FCC, ECS really have been going a different direction recently than spot prices of Cobalt…seems like most went down most of the month of January too. The market just sluggish? Any concern for one of our fav plays in CSR?
Comment by Shaun — February 14, 2018 @ 7:47 am
Jon:
Can you provide some colour on the IMR results/news release?
The market reaction seems to be nothing as if it doesn’t care.Is the market.missing something?
THANK YOU
Comment by GoldenFalcons — February 14, 2018 @ 7:47 am
GGI looking very good this morning.
Comment by MURF — February 14, 2018 @ 8:03 am
IMR will be just fine, GoldenFalcons – everything will start sinking in very clearly soon enough…they’re systematically building the case for a new grassroots discovery and we’ll see momentum build during the 2nd half of the month as even more information comes out and drilling draws closer…with a 4 million ounce deposit adjoining the property’s northern boundary, there is some significant metal endowment in this area which makes these high-grade sampling numbers that much more important…the surface sampling is yielding much higher values than those found at surface at the Juby deposit which has to be viewed as very encouraging…furthermore, Gowganda West has hardly ever been explored and no drilling has ever been carried out…that’s due in part to poor historical mapping…I suspect IMR will find many more showings under the thin layer of extensive overburden…where’s there’s smoke, there’s fire – this story has a lot of legs to it…
Comment by Jon - BMR — February 14, 2018 @ 8:09 am
Indeed, MURF…also looks like new highs imminent for CLM with its exciting Nickel play in the Rainy River district…
Comment by Jon - BMR — February 14, 2018 @ 11:26 am
Still expecting big news from CSR soon following after name change?
Comment by Shaun — February 14, 2018 @ 11:48 am
Thanks Jon! Indeed, it looks like CLM closed at its 52 weeks-high today. Any idea about what to expect on short-mid term?
Comment by jeanmichel — February 14, 2018 @ 1:35 pm