Visit the BMR comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,345 and $1,355 so far today…as of 7:00 am Pacific, bullion is down $1 an ounce at $1,348 after 4 straight winning sessions…Silver, which has pushed through key resistance in the $16.80’s, is up another 14 cents at $17.31…Silver is finally waking up after being the worst performing precious metal over the past 6 months, little changed versus a rise of 4.5% for Gold and nearly 8% for Palladium…Nickel has eased off 4 cents to $6.85 after its best move since 2008 yesterday…Copper is off 3 cents at $3.13 while Zinc is up a penny at $1.45…Cobalt remains unchanged at $41.50…Crude Oil has jumped another 42 cents to $68.89 while the U.S. Dollar Index is relatively flat at 89.60…the yield on the 10-year Treasury note has climbed above 2.9%, a key level it’s failed to stay above multiple times this year, as new data point to a strengthening U.S. economy…
2. Wake up, Canadians, Kinder Morgan has just dropped another bombshell in the wake of the Three Stooges Pipeline Summit…unimpressed the B.C. government is pushing ahead with its latest court case, trying to throw another wrench in the works, Kinder Morgan CEO Steve Kean has stated the following on an earnings call: “It’s become clear this particular investment may be untenable for a private company to undertake.” That’s a damning indictment of the new British Columbia government, not to mention Justin Trudeau’s failed National Energy Program…thanks to the Green Monster, the hideous Oil-hating, tax-and-spend NDP-Green coalition that’s even ignoring public opinion polls, British Columbia is now viewed as a pariah by international Oil and gas investors…that can only be negative for the entire B.C. economy, but try explaining that to a “snowflake” in Metro Vancouver where pipeline hostility is concentrated…meanwhile, support for the Kinder Morgan pipeline expansion continues to grow among British Columbians, though that doesn’t quite fit with the narrative of the mostly left-wing Vancouver media…the new poll, commissioned by the respected Angus Reid Institute, found 54% of those asked in B.C. are in favor of the project while 38% are opposed…this compares to 48% in favor in February vs. 40% opposed…nationally, the pipeline has even more support (except in Quebec of course)…
3. Talk that Saudi Arabia has its sights on $80 to $100 (U.S.) a barrel Oil again and of more U.S. sanctions on Russia ignited a rally in commodities and resource stocks yesterday…significantly, the CRB is now threatening to break out above a stiff resistance band that has restrained the Index since the beginning of 2016, despite the big run-up in resource stocks and certain commodities that year…meanwhile, Crude Oil prices do appear to be headed higher…OPEC and its partners next meet formally on June 22 but a ministerial monitoring panel will gather in Jeddah, Saudi Arabia, tomorrow and is expected to make noises about the broader supply and demand in the Oil market…
4. Speaking of Saudi Arabia, it opened its first movie theater in 35 years yesterday with Marvel’s “Black Panther” the first movie shown publicly in the kingdom in decades…the superhero blockbuster was shown at a new cinema theater built by U.S.-based AMC Entertainment in the King Abdullah Financial District in Riyadh…AMC received the first license to operate movie theaters in Saudi Arabia 2 weeks ago…it plans to open up to 40 cinemas in 15 cities in the kingdom over the next 5 years…this all comes as part of social reforms being promoted by Crown Prince Mohammed Bin Salman as he attempts to transform the country’s economy and society (significantly higher Oil prices over the next year or two will aid the Crown Prince in that effort)…
5. Gold bugs are smiling: Global debt has hit its highest levels ever and governments should take actions to reduce their indebtedness while the going is still good, says the International Monetary Fund…total debt levels globally came in at a record $164 trillion in 2016, amounting to 225% of the world economy’s GDP, according to the IMF’s April Fiscal Monitor…that level of debt is 12 percentage points steeper than the last historic high seen in 2009 immediately after the global financial crisis…those findings, taken together with the business cycle upswing, mean that governments should build buffers and cut public debt levels to face “challenges that will unavoidably come in the future,” Vitor Gaspar, director of the fiscal affairs department at the IMF, told CNBC…
6. The Dow off 72 points through the first 30 minutes of trading…U.S. home prices just took their biggest jump in 4 years…according to Thomson Reuters I/B/E/S, 79% of the S&P 500 companies that had reported through yesterday morning surpassed earnings expectations…meanwhile, 83% of those companies topped sales estimates…in Toronto, the TSX is down 8 points while the Venture is flat at 802…Pascal Biosciences (PAS, TSX-V) is up a penny-and-a-half at 50 cents after retreating to strong support after the stock nearly doubled on heavy accumulation between April 4 and April 9…much more to come from Pascal following the company’s game-changing news February 21 followed by a quickly completed $5 million financing at 40 cents…First Cobalt (FCC, TSX-V) announced this morning that it has initiated a study of the First Cobalt refinery located in the Northern Ontario Cobalt Camp Cobalt…the study is intended to help the company estimate the capital requirements for a future restart and expansion of the refinery…First Cobalt is 100% owner of the facility which is the only fully permitted Cobalt refinery in North America capable of producing battery materials…
7. Datametrex AI’s (DM, TSX-V) wholly owned subsidiary, Ronin Blockchain Corp., has started mining a combination of alternative coins including Zcash, Zcoin, Monero and Ethereum at both its Quebec and China locations…Ronin looks to maximize its 150-megawatt capacity in China and is also in discussions with a number of industry strategic partners that see the value in this large footprint. “The China jurisdiction along with the support from our partner GoSun has tremendous advantages and economies of scale. This footprint is one of the largest in the cryptocurrency-mining sector today and should give Ronin key advantages,” stated Michael Frank, Ronin CEO…DM has been under strong accumulation this week with the latest chart showings signs of a new uptrend forming…
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CYP… having a good day today, unique source of lithium in Nevada
Comment by bob — April 19, 2018 @ 10:58 am
Oh yawn,, another slooow painstaking decent day for ggi,o well guess we just have to wait for the es pp to close, shouldn’t take long.
Comment by Laddy — April 19, 2018 @ 11:10 am
No exclamations on CLM or PAS from anyone ?? These 2 had a pretty darn good day today, and yet no discussions. Looks like everyone is waiting for GGI to get excited about !!
Comment by farmer — April 19, 2018 @ 8:46 pm
Expecting news in the morning for Ggi, little birdie told me!
Comment by Gregory — April 19, 2018 @ 9:20 pm
Very good day for both, farmer, and more to come IMHO…
Comment by Jon - BMR — April 19, 2018 @ 10:10 pm
Waiting for that AIS news…zoicks…
Comment by flyinthruu — April 20, 2018 @ 2:51 am
A.I.S Prepares For Drilling
A.I.S. Resources Limited (TSX-V – AIS) (OTCQB: AISSF) (the “Company” or “AIS”) is pleased to announce it has engaged Hidrotec SRL of Salta, Argentina to complete up to eight diamond drill holes for a total of 2,300 meters across all four tenements at its Chiron project in the Pocitos Salar.
Hidrotec has mobilized a drill rig onto the site, as well as some of the necessary equipment to begin the construction of the drill pads and drilling to start on April 24, 2018.
– AIS plans to drill eight holes, to various depths between 300 and 400 meters.
– Chiron appears to be the preferred area in the salar for brine saturated sequences, based on geophysics data interpretation.
– This upcoming drill campaign will enable the Company to outline an initial maiden resource at Chiron after a pump test has been completed.
Phil Thomas, Chief Operating Officer and exploration director of A.I.S., stated: “We are very excited at the prospect of drilling these sequences as the geophysics showed very low resistivities from 20 metres to more than 200 metres below the surface. Adjacent concession holders are also preparing to drill and this will provide the basis for a sound geological model.
“We are also looking forward to using a new geophysics technique using magnetic resonance of hydrogen to determine porosity and permeability to calculate the reservoir and specific brine yield values. This technique is tried and tested in oil but this is the first time it will be used commercially in brines with high salt content. This will save us nearly 4 months of brine yield testing using traditional methods.”
Historical Work
The Pocitos salar basin was previously drill tested, with 12 shallow holes in 1979, by the Direccion General de Fabricaciones Militares (DGFM). The most significant result from this historical work program includes a shallow drill hole, which averaged 417 parts per million (ppm) lithium and 15,300 ppm potassium. The above historical results cannot be verified by the company, and are not NI-43-101 compliant.
Qualified Person
Phillip Thomas, BSc Geol, MBusM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI-43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Mr. Thomas is not independent of the Company as he is an officer and shareholder.
About A.I.S. Resources
A.I.S. Resources Ltd. is a TSX-V listed investment issuer, was established in 1967 and is managed by experienced, highly qualified professionals, who have a long track record of success in lithium exploration, production and capital markets. Through their extensive business and scientific networks, they identify and develop early-stage projects worldwide, that have strong potential for growth with the objective of providing significant returns for shareholders. The Company’s current activities are focused exclusively on the exploration and development of lithium brine projects in northern Argentina.
On Behalf of the Board of Directors,
Comment by Jon - BMR — April 20, 2018 @ 6:36 am
OK that’s AIS on the move. Now why can’t CCW come out with a similar statement soon. SP is below what it was under the previous name. Management need to up their game as they have lost all momentum..
Comment by Patrick — April 20, 2018 @ 6:46 am
Whoop whoop!
Comment by flyinthruu — April 20, 2018 @ 6:47 am
Besides the drilling, a very important point I see in the news is that AIS is doing something not previously done in Lithium exploration which is a credit to Phil Thomas, one of the world’s leading experts in all aspects of Lithium brine production. “We are also looking forward to using a new geophysics technique using magnetic resonance of hydrogen to determine porosity and permeability to calculate the reservoir and specific brine yield values. This technique is tried and tested in Oil but this is the first time it will be used commercially in brines with high salt content. This will save us nearly 4 months of brine yield testing using traditional methods.”
Comment by Jon - BMR — April 20, 2018 @ 6:57 am
Jon, you think this is enough to get Mr. Market to start liking AIS more or do we need confirmation of a solid meeting for Guayatayoc first?
Comment by BigBid — April 20, 2018 @ 7:35 am
Nice to see FTEC also recovering from the 52 week low of this earlier month. close to 100% since then.
Comment by rgiroux — April 20, 2018 @ 7:36 am
market yawns at the AIS NR… ficklebaiters!!
Comment by Jeremy — April 20, 2018 @ 7:46 am
Just one hour of trading, Jeremy, on a Friday morning…I would say watch how this evolves over the coming week, the AIS market is looking a lot better with a new uptrend clearly having formed…
Comment by Jon - BMR — April 20, 2018 @ 7:50 am
Drilling at Chiron is obviously a positive development and will drive AIS into May, and obviously any positive developments on the Guayatayoc front (which I expect) will contribute significantly to the uptrend…
Comment by BMR — April 20, 2018 @ 7:59 am
Nice call on DM guys. I didn’t jump in but had to say so.
Comment by BigBid — April 20, 2018 @ 8:00 am
I realize your attention for lithium is with AIS currently
but you may also want to do some DD on CYP, and the
resource in Nevada about to be released….
Comment by bob — April 20, 2018 @ 8:04 am
Nice call Jon on the DM.V breakout.
Comment by Bryan — April 20, 2018 @ 8:13 am
We’ve written quite a bit about CYP, Bob, beginning back in 2016 actually…nice move lately but faces Fib. resistance in the low-to-mid-40’s…the better opportunity at the moment would be AIS where a fresh uptrend is just beginning to take hold, vs. a technically overbought scenario such as CYP…
Comment by Jon - BMR — April 20, 2018 @ 8:15 am
CYP doesn’t have chemistry or pilot plant done right?
Comment by BigBid — April 20, 2018 @ 8:22 am
FYI Jon, I think there’s still more PP paper. Seems like a sell berg or something with AIS.
Comment by BigBid — April 20, 2018 @ 8:31 am
Hey JOn… dont you know that we are all impatient:) … we want it now!!
Comment by Jeremy — April 20, 2018 @ 8:50 am
Good Morning BMR, can you update your plans for a sight visit for IMR – or did I miss this report?
Comment by fooser — April 20, 2018 @ 9:09 am
BMR, do you know much about the tech that AIS is going to use on Chiron?
Comment by BigBid — April 20, 2018 @ 9:12 am
This is quite fascinating and we’re looking into it, BigBid…certainly speeds up a few processes…again, this reflects one of AIS’s key advantages which is on the technical side with Thomas and Sorentino…I’ve met Thomas and his knowledge of Lithium brines and everything associated with them including phased chemistry is truly astounding…
Comment by Jon - BMR — April 20, 2018 @ 9:19 am
Hey BMR,
Did you know the Yukon has 3 deep sea ports, the Premier of the Yukon, has spoken with the Alberta Premier, and she has turned him down. Why force this on people of BC. As a resident of Vancouver I am against twinning the pipeline. The pipeline should have gone somewhere North. The government of Canada, and the government of Alberta has let Canadians down, please do not blame this on the government of BC. I renewed my subscription because I believe you guys provide very good value for the service you provide, but it is clear to me, our opinions differ, this is what makes a democracy. We should keep Politics out of making money, because this is why we get into arguements. I have not been commenting because it is obvious to me I do not agree with what you guys are saying, but i love your picks. There is more incompetent people running companies then in government. Cheers! I just drank a bottle of Ontario wine. I get 6 bottles shipped every 3 months. Get it shipped so the gov’t does not fine you. They are leaches, but so are a lot of these people running companies, BmR you guys are one step ahead. Let’s keep it that way! stick to what you guys do best!
Comment by randd51 — April 21, 2018 @ 1:31 am
Randd51, I respect your views but the reason we’ve been so vocal on this “political” pipeline issue is that it has HUGE consequences for your ability, my ability, and every subscribers’ ability to make money in the markets…this is not just a B.C. issue – it has national consequences and important implications for the resource sector and foreign investment all across the country…in fact, statistics are already showing that foreign investment flows are down considerably in Canada in recent months, and this jives with the discussions we’ve had with multiple “players”…money is leaving Canada in real time…6 months from now the average person on the street will feel the affects of this, if we don’t imminently reverse the situation…
Here’s the problem, Randd51 – after exhaustive environmental reviews, with over 150 conditions attached, this pipeline expansion got ALL THE NECESSARY FEDERAL APPROVALS, plus a big thumbs up from the B.C. government as Christy Clark got her key conditions met including cash for B.C. taxpayers from Kinder Morgan…there was strong First Nations support as well…an election in B.C. occurred (last May), it was extremely close and the NDP saw an opportunity for a power grab and joined forces with the Greens to replace the Liberals with a razor-thin NDP-Green coalition majority consisting almost entirely of Metro Vancouver and Vancouver Island support…then, Kinder Morgan sees its deal turned upside down, as if they were doing business with a third world banana republic…the NDP and Greens come out and say they will use every tool available to stop a project (already approved) which comes under FEDERAL jurisdiction…potentially this could create a constitutional crisis…the B.C. government is even offside with the courts – at least 14 separate court decisions have been handed down related to this project, and Kinder Morgan has won each one of them…
So, how can you say, “Please don’t blame this on the government of B.C.”???? How can you say something like that? There’s also other blame to go around, namely the Feds who have bungled the entire energy file and are showing little leadership at a time when a project (Kinder Morgan) under their jurisdiction is being threatened…
The seriousness of this situation cannot be overstated…a $7.4 billion project has been thrown in limbo, directly by the B.C. government…what’s worse, opinion polls show that a MAJORITY of British Columbia residents support the pipeline expansion!!!!…the NDP and Greens are inherently undemocratic, which is also why they want to change the voting system even after 2 referendums in the province confirmed that voters want to maintain the first-past-the-post system (do you see a pattern here? – these radical NDP-Greens will not adhere to a vote or a ruling or a decision by the majority that they don’t like)…
What this comes down to is very simple: eco extremism, an ideological obsession with climate change and a hatred of Oil by a vocal minority…Andrew Weaver’s views are 100% supported by Greenpeace and match perfectly with those of David Suzuki who wants Canada to become fossil fuel free…meanwhile, John Horgan is willing to sacrifice the long-term economic interests of B.C. and Canada simply to enjoy the reigns of power (for a short time), serving at Wacky Weaver’s pleasure…they’re all intoxicated on their newly-gained power, after so many years in the political wilderness, and they’re all drinking the same climate change, “save the planet” Kool-Aid…meanwhile, the Americans are laughing at all of this because they’re gaining competitive advantage every single day…
A recent bank report shows the Canadian economy is losing $50 million a day because of a lack of pipeline capacity in this country…the Oil and Gas sector is in crisis, and you don’t think that impacts the markets? You don’t think that impacts the Venture and the TSX? The Oil and Gas sector has been a huge wealth generator in this country – when it’s suffering, we all suffer, and there’s less money to flow around in the markets…
B.C.’s reputation as a safe place to invest, and Canada’s reputation as a country that can efficiently get major resource projects completed, is in serious jeopardy…
We will continue to be extremely vocal on this issue because it goes to the core of what we do which is championing the resource sector, a strong economy and healthy markets within which we identify opportunities to make money…this hideous Green Monster now ruling B.C. has got to go…if it takes Alberta shutting off the Oil taps and causing gas prices and grocery prices to spike, I for one am more than happy to endure that short-term pain for the toppling of this horrible regime…I am sure many others are, too…we’ve heard far too much from the vocal minority – those who support the resource sector, support the pipeline expansion, have got to stand up and be counted…this is a war…
The good thing is, I see about a 0% chance of the Green Monster surviving another 6 months…
Comment by Jon - BMR — April 21, 2018 @ 8:17 am
Randd51, I very much look forward to your thoughts when you start paying 2 or 3 dollars a litre for gas and when your GREEN groceries double in price, I’ll be waiting. TURN OFF THE TAPS.
Comment by Laddy — April 22, 2018 @ 8:30 am