Visit the BMR comments section throughout the day for updates and helpful information!
1. Gold has traded between $1,185 and $1,193 so far today…as of 7:00 am Pacific, bullion is off $6 an ounce at $1,189…Silver has retreated 18 cents to $14.56…Copper and Zinc are relatively unchanged at $2.71 and $1.11, respectively, while Nickel has slipped 10 cents to $6.01…Cobalt remains steady at $29.26…Crude Oil has eased off 37 cents to $67.49…renewed U.S.-China trade concerns are weighing on the commodity sector today…the U.S. Dollar Index, meanwhile, has jumped one-fifth of a point to 95.35…will Jackson Hole turn out to be just a big yawn?…central bankers and economists from around the world will gather in the mountain resort of Jackson Hole, Wyoming, beginning tomorrow for the Federal Reserve Bank of Kansas City’s annual economic symposium…the theme of this year’s conference, “Changing Market Structure and Implications for Monetary Policy,” highlights the challenges to the economy stemming from monopoly power and corporate consolidation, including slower wage growth and capital investment…the conference is also set to cover issues such as the potential for technology to reshape how retailers set prices and the trade-offs between stability and competition in the banking sector…the main event will be a speech by Fed Chairman Jerome Powell tomorrow morning…Stephen Poloz, the governor of the Bank of Canada, is set to participate in a panel discussion Saturday afternoon…
2. The Dow is down slightly, just 18 points, through the first 30 minutes of trading…in Toronto, the TSX is 24 points lower…the year-over-year growth rate in the earnings-per-share estimate for the S&P/TSX Composite Index over the next 4 quarters is running at 19.1%…this is not far off the 22.5% growth rate for the S&P 500 and 23.8% for the NASDAQ…the biggest gainers are materials and energy…the Venture, unchanged at 699 in early trading, has reeled off 5 straight winning sessions and buy pressure (CMF) has jumped to its best levels since January on the daily chart…also technically significant is that the Index has finally pushed above its EMA(8) and EMA(20) exponential moving averages with both EMA’s also now reversing to the upside…Marc Enright-Morin has resigned as President, CEO and Director of A.I.S. Resources (AIS, TSX-V), months later than he should have after a series of corporate and exploration missteps…Chief Operating Officer Phil Thomas has taken over as the new President & CEO…
3. Great Bear Resources (GBR, TSX-V), with only 24 million shares outstanding, soared 46 cents or 64% yesterday to $1.18 after reporting impressive drill results from 2 holes at the Hinge zone of its Dixie Project in the prolific Red Lake district…drill hole DHZ-003 returned 16.35 m of 26.9 g/t Au, including separate sub-intervals of 5.05 m @ 51.4 g/t and 1 m @ 112.6 g/t…drill hole DHZ-004, completed 15 m vertically below DHZ-003, intersected even higher-grade Gold mineralization, returning 7 m of 44.5 g/t, including 2 m @ 143.2 g/t which includes 1 m @ 224 g/t…the newly reported intercepts from the Hinge zone are shallow, occurring above 110 m vertical depth, and are open in all directions…as announced May 23, Great Bear closed a financing and received funds from warrant exercises totalling $2.1 million – the company is fully financed to drill the remaining 5,000 m of the current 10,000-m drill program which commenced in March…CEO Chris Taylor commented, “We recently recognized the potential for a transformative discovery at Great Bear’s Dixie project when we noted structurally controlled high-grade Gold within quartz veins flanked by red-brown hydrothermal biotite alteration. These features, combined with increased grades and zone thicknesses at fold hinges, are key characteristics of high-grade Gold deposits currently in production in Red Lake. The missing piece at Dixie was whether we would also see Gold enrichment at fold hinges at our project. We tested the fold hinge concept at shallow depths of approximately 100 vertical metres and successfully generated the high-grade Gold results”…
4. In the Eskay Camp, Aben Resources (ABN, TSX-V) reported this morning that it has intersected mineralization 1.5 km south of the North Boundary Zone in a newly discovered area called the South Boundary Zone…Aben has now completed 4,850 m of drilling in 16 holes at Forrest Kerr this summer…the majority of drilling has taken place at the North Boundary area where high-grade precious and base metal mineralization was discovered in 2017 drill holes as well as in the first reported drill hole of 2018…the ongoing drill program has been expanded and will continue well into the fall…of the 16 holes, 3 holes (1,150 m) have been completed on the southwest side of the valley at the South Boundary target, located 1.5 km south of the strong Gold and Copper mineralization intersected at the North Boundary zone…drilling in the south targeted a prominent soil geochemical anomaly (Au, Cu) that continues for over 2 km…these 3 holes represent the first-ever drill holes collared at this target and have intersected numerous broad horizons of quartz-sulphide veins containing abundant pyrite and copper (chalcopyrite) mineralization…the mineralized veins are hosted within a package of Hazelton Group volcanic rock that displays moderate to strong silica-sericite alteration with a variable chlorite and potassic alteration component…
5. Otis Gold (OOO, TSX-V) has received approval for a significantly enlarged exploration program at its 100%-owned Kilgore Project in Clark county, Idaho…the U.S. Forest Service issued a Decision Notice authorizing a 5-year exploration plan which provides significant flexibility to drill on up to 140 drill sites throughout the Kilgore Project, including step-out and infill drilling at the existing Kilgore deposit and exploration drilling at emerging targets including Gold Ridge, Prospect Ridge and Dog Bone Ridge…Otis President and CEO Craig Lindsay stated, “The approval of our new plan of operation is a major milestone in the development of the Kilgore Project. Prior to this new permit, we were operating under significant constraints which allowed very limited step-out drilling away from the existing deposit, and no drilling at exploration targets. The majority of the Kilgore Project has had limited historic drilling outside of the current deposit area, so this new authorization is a very positive development for Otis”…
6. Discovery Metals (DSV, TSX-V), an emerging base metal play in Mexico with a strong cash position, has channel sampled more exceptionally high-grade Zinc (plus Silver and Copper) underground at its San Jose mine, 1 of 3 historic mines comprising its flagship Puerto Rico Project in northern Coahuila state…values from 15 of the best channel samples ranged in grade from 1,554 g/t ZnEq to 2,819 g/t ZnEq over widths as much as 1.3 m…President & CEO Taj Singh commented, “Puerto Rico is really coming into focus, with two of the three historic mines now completely mapped and sampled. These new results from San Jose continue to highlight the very strong and consistent grades at the project. The sampling program of the third historic mine, the Puerto Rico mine, has just wrapped up and we are awaiting assay results. The focus will now shift to drill-planning and prioritizing targets for drilling in the 2nd half of 2018. We are also finalizing plans for an airborne magnetic survey at the project which will aid in drill-targeting and will also help to identify high-potential regional targets surrounding the historic mine area”…
7. Chemesis International (CSI, CSE) has entered into a definitive agreement to acquire 80% of Natural Ventures, a seed to sale, medical cannabis company based in Caguas, Puerto Rico..the agreement has been submitted to the Puerto Rico Medical Cannabis Board for approval as per required by its regulatory framework…Chemesis says Natural Ventures represents a “significant opportunity” that will accelerate CSI’s plans to become a leader in both medical and recreational cannabis cultivation and manufacturing…Natural Ventures has been operational since early 2017 and is now expanding to meet its growing patient demand…the company is licensed to cultivate 100,000 sq. ft. of cannabis and has 35,000 sq. ft. of manufacturing floor space for high quality cannabis products…it is currently producing solvent and CO2 based extraction for its Oil-based products, and it also is producing edibles and other cannabis products…
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Any thoughts on GGM’s trenching results? Looks like a miss to this novice.
Comment by mike — August 23, 2018 @ 9:43 am
Great Bear Resources halted at 11:54 a.m. PT
2018-08-23 14:57 ET – Halt Trading
Great Bear Resources Ltd. has been halted at 11:54 a.m. PT on Aug. 23, 2018, at the request of the company, pending news.
© 2018 Canjex Publishing Ltd. All rights reserved
Comment by John - BMR — August 23, 2018 @ 12:32 pm
A.I.S. Resources appoints Thomas as president, CEO
2018-08-23 10:01 ET – News Release
Mr. Martyn Element reports
A.I.S. RESOURCES APPOINTS PHILLIP THOMAS COO AS NEW PRESIDENT AND CEO
A.I.S. Resources Ltd. has appointed Phillip Thomas (currently the chief operating officer of the company) as the new president and chief executive officer of the company.
Mr. Thomas has functioned as the company’s chief operating officer and director of exploration since Oct. 31, 2016. He has been a key driver in the acquisition and exploration of the company’s lithium properties in Argentina.
Mr. Thomas has degrees in geology and business marketing. He is also a certified mineral valuer. He specializes in lithium brine projects and has deep experience in finance and capital raising, as well as management of mining companies, having established a number of significant exploration projects in Mexico, the United States, Chile, Argentina, Arizona and Australia. From 2003 to 2008, he was chief executive officer of Admiralty Resources. Mr. Thomas explored the Rincon salar in Argentina and put it into production. He is a member of the Australian Institute of Geoscientists and a certified mineral valuer with the Australasian Institute of Mineral Valuers and Appraisers.
Mr. Thomas commented, “I am excited to take on the role of CEO as we continue to grow A.I.S.’s portfolio of lithium assets in Argentina.”
In conjunction with this appointment, Marc Enright-Morin has resigned as president, chief executive officer and a director of the company. The company wishes to thank Mr. Enright-Morin for his service and wishes him the best in his future endeavours.
Comment by John - BMR — August 23, 2018 @ 12:43 pm
Did you have anything to do with that Jon? You said you were going to make it clear you weren’t happy with Marc’s performance – LOL
Comment by Dan1 — August 23, 2018 @ 12:50 pm
Suffice to say, we made our position unequivocally clear to AIS, Dan1.
Comment by Jon - BMR — August 23, 2018 @ 3:30 pm
“Make AIS Great Again.”
Comment by flyinthruu — August 23, 2018 @ 3:42 pm
Jon, what do you make of the email blast ggi sent out a couple of hours ago “GGI Ramps Up In The Eskay Camp?” Do you think they are giving a little tease of what’s to come? Maybe creating some buzz prior to releasing some news.
Comment by Donnelly7 — August 23, 2018 @ 5:01 pm
Jon do you think DVR has what it takes to be a big player in the drone market?
Comment by Ed — August 23, 2018 @ 5:44 pm
Yes and no, Ed…Dave MacMillan understands the drone industry like no one else on Bay Street, but the Deveron team has shown to be really weak on the market side of the equation…building a business in this case also means building a market – they have failed miserably with regard to the market, can’t generate excitement for what they’re doing…
Comment by Jon - BMR — August 23, 2018 @ 6:00 pm
Torino Power Solutions Provides Update On Upcoming Power Line Monitoring Sensor at New England Utility
VANCOUVER, British Columbia, Aug. 24 — Torino Power Solutions Inc. (CSE: TPS) (Frankfurt: A143TE) (the “Company” or “Torino”) is pleased to report that it plans to install its Power Line Monitoring (PLM) sensor technology in mid-September for one of the largest utility companies in the northeastern United States.
The installation of the Torino PLM will be on a problem distribution line in a major city centre in Connecticut. The utility, based in New England, controls several regulated subsidiaries offering retail electricity and natural gas service to more than three million customers. The PLM is being installed on a pilot basis with terms for purchase after an evaluation period is successfully completed.
Rav Mlait, CEO of Torino, commented, “We have made a considerable investment in understanding how to accurately and precisely measure temperature of a conductor during dynamic events. Many of our competitors fail to tell their clients that the installation of any sensing device on a conductor significantly changes the temperature of the conductor at that location. This is problematic if you are using the temperature sensor for closed loop dynamic rating or even in open loop operator decisions to increase the current through a heavily loaded conductor that is reaching its thermal limit. This is why there is so much conservatism in the line rating calculations (CIGRE).
“Torino has made significant changes to our product that minimizes the temperature impact of the physical installation on the conductor,” Mlait continued. “We are now building an extensive calibration and characterization database of all electrical grid conductors. This investment is being done as part of goal of being the leading supplier of accurate and precise temperature sensors for the growing mandatory market requirements of closed loop dynamic line rating.”
Torino’s patented microwave cavity sensor technology delivers real-time temperature measurements of overhead powerlines that allow for increased transmission capacity, improved grid resiliency, lower energy costs and bottleneck elimination. Torino sensors can be deployed quickly and begin transmitting real-time data to the utility almost immediately. Torino is focused on servicing utilities that are seeking new innovative sensor technology to improve grid performance and reduce cost for their customers.
Please visit http://www.torinopower.com for more information.
We seek Safe Harbor.
On behalf of the Board of Directors
“Rav Mlait”
CEO and Director
Torino Power Solutions Inc.
For further information, contact at [email protected]
Comment by adrobyshev — August 24, 2018 @ 5:35 am
More good news from TPS, adrobyushev…chart looks great…recent signing of an MOU with SICAME was the start of something big with this company, strong upside potential going into September with the likelihood of more developments…
Comment by Jon - BMR — August 24, 2018 @ 6:13 am
TPS keeps proving there sensor In the Utility sector , im sure it wont take long for these to be a necessity with most power lines, and with Sicame being on 5 continents, one would think the skies the limit with TPS , especially with such a tight share structure and i would think financial backing if needed from Sicame…
Comment by Silverhook — August 24, 2018 @ 6:36 am
CCW news out !
Comment by Sylvain — August 24, 2018 @ 6:48 am
Well, here we go…cobalt-nickel arsenides and cobalt arsenides typically contain very high grades of Cobalt and Nickel…
CCW Intersects Cobalt-Enriched Vein Structures, Second Drill Program Starts at Castle
COQUITLAM, BC, Aug. 24, 2018 /CNW/ – Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that ongoing underground drilling has intersected visual cobalt mineralization in most of the 40 drill holes completed to date, covering a distance of 200 meters, while surface drilling of high value targets has commenced approximately 1.5 km east of the Castle mine near Gowganda in the Northern Ontario Cobalt Camp.
Highlights:
– Underground drilling supports Canada Cobalt’s geological model that vein structures untouched by first level mining in the 1980’s are enriched with cobalt-nickel arsenides and cobalt arsenides, two favoured assemblages for the targeted cobalt mineralized system (assay results will be reported as they become available);
– Surface drilling will test multiple targets in a broad potential new discovery area east of the Castle mine and two other significant past producers – Phase 1 drilling will consist of a minimum of 2,000 meters;
– Results from stripping of outcrop, trenching and MMI soil sampling within a large circular Nipissing diabase basin east and east-southeast of the mine are supported by strong induced polarization (IP) conductivity and chargeability anomalies including a 725-meter-long IP anomaly with an associated chargeability halo;
– High-grade cobalt and silver are primary targets of surface drill program, but potential nickel/PGE’s in ultramafic gabbro and high-grade gold potential in Archean volcanics underscore the robust and diverse nature of the Gowganda system.
Jacques Monette, mine supervisor and Canada Cobalt director, commented: “Activity remains intense. In addition to continuing to intersect promising vein structures underground, with the latest drilling occurring near the #3 Shaft where there is an impressive network of veins, the pilot plant is operating smoothly while we’ve also launched a cost-effective program to dewater the second level of the mine. Surface drilling more than a kilometer east of the mine has crews excited about the prospect of a potential new discovery.
“Canada Cobalt has also been approached by various stakeholders in the district and elsewhere with respect to our Re-2OX process that has produced a premium grade cobalt sulphate product sourced from mineralized material from the Castle mine. Our plan, as the battery sector continues to grow, is to leverage Re-2OX to capture the greatest value possible for shareholders,” Monette concluded.
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 on its past producing Castle mine in the Northern Ontario Cobalt Camp, Canada’s most prolific cobalt district. With underground access at Castle, a recently installed pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/August2018/24/c2626.html
Contact:
Frank J. Basa, P.Eng., President and CEO at 1-819-797-4144, or Wayne Cheveldayoff, Corporate Communications, [email protected], 416-710-2410
Comment by Jon - BMR — August 24, 2018 @ 6:52 am
Great NR and I like the potential 1.5km away with not only cobalt and silver, but potential nickel and PGE’s plus gold. One question though, why don’t they have any assay results yet from the underground drilling?
Comment by Dan1 — August 24, 2018 @ 7:00 am
Can’t wait until CCW stock finally can break 80s once and for all.
Comment by flyinthruu — August 24, 2018 @ 7:13 am
Good question Dan1 shouldn’t asssys have been back by now?
Comment by Gregh — August 24, 2018 @ 7:15 am
Unless, they are very high grade and require re-checking
Comment by Dan1 — August 24, 2018 @ 7:19 am
Labs are slow to begin these days, Dan1, but re-checks will clearly be carried out here…for Cobalt, Nickel and Silver…this is also part of the mine where Agnico Eagle literally hit a wide vein carrying many hundreds of ounces of Silver, so grades can be quite astonishing in these underground environments…
Comment by Jon - BMR — August 24, 2018 @ 7:24 am
Good news for Canada Cobalt! Though, I still do not understand the pattern of selling cheap on good news. That’s what happened on all previous good news, including right now. Why so? Anyone can explain?
Comment by jeanmichel — August 24, 2018 @ 7:39 am
Jon, i think people are confused about the CCW release… are they saying they drilled 200m worth of core or they have drilled within a 200m area so far? Thanks
Comment by TradingAgent — August 24, 2018 @ 9:18 am
TradingAgent, the beginning of the adit to Shaft #3 (first level extends even further beyond that) covers a distance of about 235 meters…so what they’re talking about is drilling that started near the adit entrance and has carried on for 200 meters toward Shaft #3…
As stated earlier, cobalt-nickel arsenides and cobalt arsenides are rich in metals (high arsenic = HIGH GRADES, but the arsenic is a feature of the district and is easily treatable by Re-2OX as demonstrated by CCW’s 22.6% Cobalt sulphate and removal of 99% of the arsenic from the concentrate)…
Investors who don’t understand these simple facts who decided to sell on this GREAT news will be kicking themselves soon enough…I’m taking advantage of this morning’s weakness and adding more, because the news is fantastic and some of that core is going to run exceptionally high in Cobalt, Nickel and Silver…
Furthermore, drilling now to the east…only company producing a Cobalt sulphate product in the district and also moving toward Nickel-Manganese-Cobalt (NMC) formulations…
Comment by Jon - BMR — August 24, 2018 @ 9:26 am
Jon, it’ll definitely be good to see the assays for CCW. The market is most definitely rewarding high-grade hits with good intercepts. We have seen the veins of high-grade cobalt that run through the mine but no core pics yet.
Comment by flyinthruu — August 24, 2018 @ 9:46 am
now down 21% on my CCW purchase. Such a volatile stock.
Comment by broen — August 24, 2018 @ 9:50 am
No word yet on how Frank’s prentation went in SAN Fran. Maybe we get a boost from that next week.
Comment by Dan1 — August 24, 2018 @ 10:10 am
Hi Jon. Any news from this week’s meetings between M. Basa and potential investors? And any idea what’s the point for investors to sell cheap on every Canada Cobalt’s good news, like today? Seems like the stock can’t reach new highs, facing constant resistance even on fantastic news. Thanks!!
Comment by jeanmichel — August 24, 2018 @ 10:16 am
For every seller, jeanmichel, there’s a buyer, so there are some eager buyers at these levels on CCW…the chart is unequivocal in showing where this is headed (convincingly to new highs), so keep in mind the uptrend remains firmly intact and every pullback within this uptrend has proven to be a tremendous buying opportunity…this went from 20 cents to 90 cents in a hurry, so this type of activity is not unusual prior to another big upleg…this is when you make money in the market…it’s much harder to make money when you chase…
Comment by Jon - BMR — August 24, 2018 @ 11:09 am
Thanks Jon. It’s just hard to swallow when we got back where it was 2 months ago, all moving averages pointing south, price falling below support… technically speaking, it’s not looking good. Fundamentally things are awesome, but technicals are all showing the opposite. Is it possible big buyers are just profiting of people putting “stop-loss” orders at those levels?
Comment by jeanmichel — August 24, 2018 @ 12:10 pm
I realize I have said this before but finally Bayhorse Silver is supposed to come out with a 43-101 that promises to be explosive in early September. Most long time holders feel millions of ounces and long mine life (high grades have already been proven). Stock is .10 a share (IMO you guys are the pros so you make the call if you want).
Comment by CARL — August 24, 2018 @ 1:18 pm
I added more CCW stock today…how can I refuse such a gift.
Comment by John - BMR — August 24, 2018 @ 1:27 pm
Interesting day for CCW, technical support held and fundamentals are actually even better after the news despite the 6-cent drop.
Important to understand that today’s trading in CCW was driven by TD. Interestingly, looks like a big TD trader sold a bundle of CCW today to get into CLM. Wow – love CLM, but to flip like that from one into another on an impulse is a strange way to invest in the market.
Comment by Jon - BMR — August 24, 2018 @ 1:44 pm
that could be that Bert guy who is a large investor who was buying up CCW a couple weeks back and was buying CLM today.
Comment by broen — August 24, 2018 @ 1:48 pm
Very odd day. Let’s get a move on with these assays.
Comment by flyinthruu — August 24, 2018 @ 2:19 pm
Refering to you last comment Jon; To what I remember, wasn’t there a big TD buyer back when the stock was trading in the low 0,20s ? It’s possible that buyer thought after making 3x his money and seeing the stock price stable for a while, it was ok to move on something else. And thanks also John for your comment, it meant a lot.
Comment by jeanmichel — August 24, 2018 @ 4:22 pm