Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.
1. Gold is trying to rebound after its worst week of the year…as of 7:00 am Pacific, bullion is up $5 an ounce at $1,333…today’s trading range has been between $1,330 and $1,342…a lower dollar and a return of interest from major consumer China, where a week-long holiday ended last week, has given Gold a slight lift but resistance is strong around $1,350…hedge funds and money managers raised their net long positions in COMEX Gold contracts in the week to February 20…Silver is up 9 cents at $16.59…a key focus for precious metals investors this week will be tomorrow’s Congressional testimony by the new chair of the Federal Reserve, Jerome Powell, as he makes his first public appearance since his appointment…base metals are firm…Copper has added 2 pennies to $3.21…Nickel is up 6 cents at $6.26 after climbing as high as $6.33, while Zinc has gained a penny to $1.62…Cobalt is unchanged at a decade high of $37.19…Crude Oil has steadied around its highest prices in 3 weeks, supported by comments from Saudi Arabia that it would continue to curb shipments in line with the OPEC-led effort to cut global supplies…a surprise drop in U.S. Crude stockpiles last week and halted production at a Libyan Oil field led to Crude’s biggest 2-week gain since November…WTI is off 25 cents at $63.30 as of 7:00 am Pacific while the U.S. Dollar Index has recovered from its morning lows and is now back to almost even for the day at 89.91…
2. Ivanhoe Mines (IVN, TSX) reports a 50% increase in Indicated resources at a 3% cut-off grade at its world class Kakula discovery in the DRC…the Kamoa-Kakula Project is a joint venture between Ivanhoe Mines, China’s Zijin Mining and the government of the Democratic Republic of Congo…the updated Kakula resource estimate, prepared under the direction of independent consultant Amec Foster Wheeler, covers a mineralized strike length of 13.3 km and boosts the total tonnage of Kakula’s Indicated resources to 174 million tonnes at a grade of 5.62% Copper…this compares to the May 2017 estimate of 116 million tonnes at 6.09% Copper…estimated Inferred resources now total an additional 9 million tonnes at a grade of 3.66% Copper. “Kakula is the most remarkable mineral discovery we have seen during our 35-plus years in the exploration industry. The new, independently-verified resource estimate now places Kamoa-Kakula ahead of Indonesia’s renowned Grasberg deposit as the world’s 4th-largest Copper discovery on the planet in terms of contained Copper. And it still is growing,” stated Robert Friedland…
3. The NASDAQ will list its first cannabis shares tomorrow, marking a key milestone for an industry that has been rejected by the Trump administration…Cronos Group (MJN, TSX-V) will be the first marijuana company on a major U.S. exchange, under the ticker symbol “CRON“, right alongside NASDAQ stocks such as Apple, Microsoft and Starbucks…Cronos will also retain its Venture listing…this could help expand the so-called Green Rush…American investors who were previously uncomfortable or restricted from putting funds abroad or into over-the-counter stocks now have a mainstream option that has passed muster with the Securities and Exchange Commission…Mike Gorenstein, Cronos Group CEO, stated: “This up listing to NASDAQ is a major corporate milestone and reflects the significant progress we have made in strengthening our corporate governance and expanding our global footprint. We believe this will increase long term shareholder value by improving awareness, liquidity, and appeal to institutional investors”…MJN is up 83 cents on the Venture at $9.73 as of 7:00 am Pacific…
4. The Dow, which has climbed in 9 out of the last 11 sessions, is up another 197 points as of 7:00 am Pacific…it has recovered more than half of its losses from the late January/early February correction…in Toronto, the TSX is 42 points higher while the Venture has jumped 7 points in early trading to key immediate resistance at 833…Pretium Resources (PVG, TSX) reported this morning that it’s continuing the ramp-up at its high-grade Brucejack Gold mine in the Eskay Camp, and the mine remains on track to reach steady-state production mid-to-late 2018…additionally, an exploration drill program has been initiated underground to test for a porphyry source and evaluate the potential extension of the Valley of the Kings deposit to the east…recent choppy market conditions have made it more difficult for cannabis firms to price stock sales and size up potential acquisitions…nearly all of the 3 dozen public cannabis stocks tracked by investment firm Echelon Wealth have tumbled over the month ended February 22, plunging by an average of 24%…an IPO led by Canaccord Genuity Group for The Green Organic Dutchman Holdings aims to list on the TSX in March…it operates a small production facility near Hamilton and holds one of 90 licenses in this country – and one of 48 in Ontario – that have been issued by Health Canada to cultivate pot plants for medical use…
5. Gold Standard Ventures (GSV, TSX) has released plans this morning for a $25.8 million (U.S.) program at its Railroad Project in Nevada…this will include an estimated 74,800 m of RC drilling and core drilling in 381 holes…infill and development work at Dark Star and Pinion is expected to account for approximately 40,800 m of drilling in 296 holes while exploration is expected to add another 34,000 m of drilling in 85 holes…Jonathan Awde, CEO and Director of Gold Standard, commented: “This year’s program is designed to add maximum value to the Railroad Project for our shareholders. We expect to achieve significant resource growth while also reducing risk and establishing the outstanding economic potential of the oxide Gold deposits we have discovered and developed. We also expect to make further new discoveries, as we have each of the last 5 years.”
6. Australia’s Newcrest Mining announced this morning that it’s investing $250 million (U.S.) at $5.50 (CDN) per share to buy a 27.1% stake in Lundin Gold (LUG, TSX) to help develop Lundin’s rich Fruta del Norte mine in Ecuador…in addition, Newcrest has also signed a joint venture with Lundin to earn up to a 50% direct interest in 8 Ecuadoran exploration concessions by spending up to $20 million over 5 years…LUG is up 19 cents at $5.00 through the first 30 minutes of trading…
7. Results this morning from several Marathon Gold (MOZ, TSX) shallow drill holes, showing high-grade Gold intervals at depths between 40 and 130 meters, cover a 170-m strike length and demonstrate the presence of the quartz-tourmaline-pyrite-Gold mineralizing system beneath the 3.5-km-long bog and overburden covered zone between the Marathon and Sprite deposits…a 15,000-m winter drilling campaign continues with 2 drill rigs operating along the 3.5 km of bog and overburden covered ground between the Marathon and Sprite deposits, and the 3rd drill continuing with step-out holes along strike to the NE and SW of the Marathon deposit…a maiden PEA for Marathon is expected by the end of May…trading in the low 90’s, MOZ is now the closest it has been to its rising 500-day moving average (SMA) since its big move began in early 2016…
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Comment by flyinthruu — February 26, 2018 @ 7:51 am
message from AIS
Marc Enright-Morin
09:25 (1 hour ago)
to me
Hi Robert,
The stock drop is due to the 20 cent financing coming free trading. We have not got drills on the property yet due to weather conditions. As soon as they are better we will have the drillers mobilize onto Chiron.
I can be reached 778.892.5455.
Regards,
Marc
On Feb 22, 2018, at 8:42 AM, wrote:
Name:
E-Mail:
Message: what happing with share price , have you started drilling yet
all good , have a good day
bob
Marc Enright-Morin, CEO
AIS Resources Limited
Suite 2300 – 1177 West Hastings Street
Vancouver BC Canada V6E 2K3
C: 778.892.5455
T: 604.687.6820
[email protected]
[email protected]
http://www.aisresources.com
Comment by robtr31 — February 26, 2018 @ 10:32 am
mmm,and here I thought the games with ggi may be over,but they carry on ..mmm.not for much longer I would think…..
Comment by Laddy — February 26, 2018 @ 11:02 am
Thoughts on DM news? Market seems to like it…
Datametrex AI Limited Announces Proposed Private Placement and Public Listing of Ronin
TORONTO, Feb. 26, 2018 (GLOBE NEWSWIRE) — Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV:DM) (FSE:D4G) is pleased to announce a non-brokered arm’s length private placement of up to approximately $4 million (the “Offering”) in Ronin Blockchain Corp. (“Ronin”) through the issuance of up to 9 million units (each a “Unit”) at price of $0.45 per Unit. In addition, Management of the Company along with its board of directors has implemented a strategy to complete a public listing transaction (the “Listing”) of Ronin on a North America stock exchange in 2018.
Public Listing
Management of the Company has determined that in light of the capital which Ronin requires to grow and scale its operations, Ronin requires independent sources of capital. Based on the projected capital requirements, management and the board of directors of the Company ultimately decided that a public listing would enable the shareholders to continue to share in the growth of Ronin with outside investors, while still retaining a majority equity interest in Ronin subsequent to the completion of the Listing. The Listing and financing will be subject to regulatory approvals.
“We believe that this process is the most accretive way for Datametrex shareholders to benefit from the significant market opportunity for Ronin in the cryptocurrency mining sector,” says Andrew Ryu, Chairman and CEO of the Company.
The Offering
With respect to the Offering, based on a pre-money valuation of approximately $36 million CDN, each Unit consists of one common share in the capital of Ronin and one common share purchase warrant, with each warrant exercisable into one common share at a price of $0.60 for a period of 24 months after closing of the Offering (the “Warrant Expiry Date”). The Company has the option to accelerate the expiry of the Warrants under certain circumstances in the event that the shares of Ronin become listed on a Canadian stock exchange. The Company has the option to increase the size of the Offering at any time up to 48 hours before the closing of the Offering to $5 million. The proceeds from the Offering will be utilized by Ronin to fund its working capital and ongoing business development including the business venture with Gosun Group.
In addition, under the terms of the Offering, each subscriber shall be entitled to a liquidity incentive payment (the “Liquidity Incentive”) equal to 1% per month, subject to a maximum Liquidity Incentive equal, in aggregate, to 12% of the aggregate purchase price paid for the Units by a subscriber in the event that Ronin does not complete the Listing within 120 days from the closing of the Offering (the “Deadline”). In the event that the Liquidity Incentive is payable, it shall be paid by Ronin within 10 business days from the Deadline and thereafter 10 business days following each month in respect of which the Liquidity Incentive remains payable.
In connection with the Offering, the Company may, as compensation to individuals that introduce subscribers to the Company (a “Finder”), and subject to regulatory approval: (i) pay cash commissions; and (ii) issue non-transferable common share purchase warrants (with identical terms as those warrants issued under the Offering) equal to 8% of the aggregate gross proceeds (the “Finder’s Fee”) of a subscription made by a subscriber who is introduced to the Company by such Finder.
The Offering is subject to certain conditions, including (but not limited to) the receipt of approval from the TSX Venture Exchange (if required). The securities issued in connection with this private placement will be subject to a hold period in accordance with applicable securities laws.
https://globenewswire.com/news-release/2018/02/26/1387602/0/en/Datametrex-AI-Limited-Announces-Proposed-Private-Placement-and-Public-Listing-of-Ronin.html
Comment by adrobyshev — February 26, 2018 @ 11:20 am
Jon and Daniel I was just curious if either of these 2 stocks were on your radar and if you would recommend them SNA (star navigation) and BTRU.V (Better U Education Corp.) Thanks
Comment by Ciara — February 26, 2018 @ 11:32 am
Now they say the weather is not good. I don’t like the chain of events happening with AIS. \
Comment by Dan1 — February 26, 2018 @ 12:13 pm
Not unusual to have heavy rains in parts of Argentina in February, Dan1. Typically turns by March.
Comment by Jon - BMR — February 26, 2018 @ 12:33 pm
True Jon. It just may be a while before the SP gets going again with all the crap paper coming. A little cash on hand is always a good plan as you say.
Comment by Dan1 — February 26, 2018 @ 12:38 pm
Oh AIS. Double, triple, what comes after a quadruple-whammy?
Comment by Matt — February 26, 2018 @ 3:16 pm
Hi Jon and BMR team,
I usually don’t ask about stocks that are not mentioned in your posts. But I have been following and a shareholder of IVN for quite a long time. I would appreciate any insight you might be able to share regarding the company. Is it really possible for a company with that kind of quality management, geologists, and assets to be so undervalued simply because of their political situation? A 1% economic copper deposit would warrants multiples higher …nevermind potential 3% cutoff for just Kakula alone with a potential mine life of half a century or longer. Any thoughts or comments about future sp would be greatly appreciated. Thanks for your time.
DC
Comment by Dan — February 26, 2018 @ 4:01 pm
Hoping the GGM/CCW thing isn’t a issue. Totally get concept wise why it shouldn’t. Low volumes throughout the sector it seems.
Comment by BigBid — February 26, 2018 @ 5:15 pm
Fintech Select Enables Selectcoin to Provide Instant Bitcoin purchases
https://ceo.ca/@nasdaq/fintech-select-enables-selectcoin-to-provide-instant
Comment by robtr31 — February 26, 2018 @ 5:39 pm
Nice to see a little strength today in IMR and CCW / GGM , again I believe the move THO had today may have rubbed off on the Cobalt vicinity of Ontario. We know that property had nothing to do with THO’s rise today, and more than Guatemala operations, I would think Month End pressure by the Shorts covering got the sp up for THO. No matter, it will be interesting to see how things ” pan out ” on GGM tomorrow. I’m not selling even once receiving the dividend of CCW Shares. Farmer T
Comment by farmer — February 26, 2018 @ 7:22 pm
CCW news out…
CANADA COBALT ASSAYS 2.47% COBALT FROM SELECTED BULK SAMPLE UNDERGROUND AT CASTLE MINE, ADVANCES PLANS FOR 600-TPD MILL
Canada Cobalt Works Inc. has provide the following update as it accelerates key corporate strategies as a vertically integrated and leading domestic pure play cobalt company focused exclusively on the prolific Northern Ontario Cobalt camp.
Highlights:
– Canada Cobalt has retained a major global engineering firm specializing in the energy and industrial markets to complete necessary earthworks studies and advance the permitting process for the planned installation of a state-of-the-art 600-tonne-per-day gravity flotation cyanidation mill at the Castle site;
– Canada Cobalt will also be submitting plans to the Ontario Ministry of Northern Development & Mines for unlimited dewatering of levels two through 11 of the Castle mine;
– A mini-bulk sample from the first level of the Castle mine has returned 2.47% cobalt – underground sampling program continues and more results are pending as Canada Cobalt also prepares for further rehabilitation of old workings and initial underground drilling on the expansive first level.
Canada Cobalt has three unique advantages in a district increasingly recognized for its cobalt potential:
– Underground access at the 100%-owned Castle mine, the region’s most recent significant silver producer (early 1990’s) with cobalt mineralization bypassed in favor of very high-grade silver on 11 levels covering a total footprint of 727 meters east-west, 455 meters north-south and 258 meters to depth;
– Proprietary Re-2OX process custom designed for the complex metallurgy of the Northern Ontario Cobalt Camp – allows for a battery sector client-specific cobalt formulation;
– Planned new infrastructure highlighted by a 600-tpd mill at the Castle site that would be financed by Granada Gold (TSX.V: GGM) through a debt instrument (against the bar) – Canada Cobalt has a milling agreement with Granada Gold (see Sept. 8, 2017 news release) and will be the operator of the proposed processing facility with the potential to provide custom milling services to companies throughout the Northern Ontario Cobalt Camp.
Frank Basa, President and CEO of Canada Cobalt, commented: “With a strong treasury, only 60 million shares outstanding and a team that has decades of combined experience in the Northern Ontario Cobalt Camp, Canada Cobalt is ideally positioned to seize current and future opportunities in this exciting sector with Cobalt prices at 10-year highs.”
Canada Cobalt Retains Amec Foster Wheeler (Wood)
Amec Foster Wheeler Environment & Infrastructure (Wood) will complete near-term geotechnical and hydrogeological field investigation studies at both the Castle and Granada properties as part of the permitting process for the planned 600-tonne-per-day gravity flotation cyanidation mill at the Canada Cobalt Castle mine site near Gowganda.
Gold mineralization from the Granada deposit near Rouyn-Noranda would be transported to the Castle mine for processing. The mill is being designed to accommodate both the gold mineralization from Granada as well as potential cobalt-silver material from the immediate Castle mine and other properties in the surrounding Northern Ontario Cobalt Camp.
Underground Sampling Returns High-Grade Cobalt
High-grade cobalt values have been returned from a continuing mini-bulk sample at the Castle mine. The first sample, weighing 13.0 kg, assayed 2.47% cobalt, 23.4 g/t silver, 0.68% nickel and 1.83 g/t gold. The second sample, weighing 14.0 kg, assayed 0.91% cobalt, 460 g/t silver and anomalous nickel and gold.
Canada Cobalt cautions that samples are selective and not necessarily representative of mineralization underground at the Castle mine.
More samples are being assayed by SGS Laboratories in Lakefield, Ontario, and results will be released as soon as they are received, verified and interpreted.
Quality Assurance/Quality Control
Samples from the Castle mine were taken from veins exposed in the backs (ceilings) of undeveloped drifts using scaling bars, hammer and chisel over variable lengths up to two meters. Tarps caught all broken pieces which were then collected in a five gallon pail per sample site. Sample pails were subsequently transported by truck to Swastika Laboratories, an accredited lab in Swastika, Ontario, for assay. Aqua regia digestion and atomic absorption finish were used for cobalt, nickel and silver analysis. Gold values were determined by fire assay with atomic absorption finish. The remainder of the sampled material was submitted to SGS Laboratories in Lakefield, Ontario, to use the Re-2OX process to develop samples for evaluation for the Asian battery market.
Qualified Person
The technical information in this news release was prepared under the supervision of Frank J. Basa, P.Eng., Canada Cobalt’s President and Chief Executive Officer, who is a member of Professional Engineers Ontario and a qualified person in accordance with National Instrument 43-101.
About Canada Cobalt Works Inc.
Canada Cobalt is a pure play cobalt company focused exclusively on the Northern Ontario Cobalt Camp, Canada’s most prolific cobalt district. With three 100%-owned past producing mines, a proprietary hydrometallurgical process known as Re-2OX, and plans for a 600-tonne-per-day mill at its flagship Castle Property near Gowganda, Canada Cobalt is well positioned to become a vertically integrated North American leader in cobalt extraction and recovery.
We seek Safe Harbor.
Comment by TD75 — February 27, 2018 @ 4:37 am