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1. Gold has traded between $1,195 and $1,208 so far today…as of 7:00 am Pacific, bullion has rebounded $9 an ounce to $1,205…Gold and the broader commodity sector is getting a lift from a softening U.S. dollar after a slightly weaker than expected U.S. private sector employment report from ADP for the month of August…traders and investors now await tomorrow’s key non-farm payrolls report from the Labor Department…meanwhile, fresh and more severe cases of TAD (Trump Anxiety Disorder) have broken out among elites in Washington and their friends in the mainstream media, just as mid-term elections draw closer while nomination hearings begin for a conservative Supreme Court Justice, which may also help to restrain the U.S. dollar…Silver has added 8 cents to $14.24…Copper is up 4 cents at $2.70, Nickel has added 6 cents to $5.66 while Zinc is 2 pennies higher at $1.12…Cobalt is steady at $29.26…Crude Oil is relatively unchanged at $68.81 while the U.S. Dollar Index has declined one-tenth of a point to 95.01…holdings of Gold by global ETFs and similar products fell by 40 tonnes during August, the World Gold Council reported today…holdings now stand at 2,353 tonnes after 3 straight months of declines…the drop was also coupled with weaker Gold prices and assets under management fell by 3%…for the year to date, ETF holdings are now down by 18.5 tonnes…
2. NAFTA negotiations between the U.S. and Canada, which resumed yesterday, are being watched closely by investors…on that note, Canadian Prime Minister Trudeau commented during a radio interview in Edmonton yesterday, “One of the things that is clear is that we have red lines that Canadians simply will not accept (like, perhaps, Pipeline Fiascos, regulatory gridlock, carbon taxes, gender-obsession, never-ending deficits and an under-performing economy?)...”We need to keep the Chapter 19 dispute resolution because that ensures that the rules are actually followed and we know we have a President who doesn’t always follow the rules as they’re laid out”…rather ironic Trudeau would criticize others for “not following the rules” when a Federal court, albeit micromanaging from the left, just dealt a crushing blow to the Trans Mountain Pipeline precisely because Team Trudeau didn’t “follow the rules” on consultation…Statistics Canada’s latest numbers show that the net divestment from the energy and mining sector in this country over the last 5 quarters is a staggering $8.6 billion…that’s a massive red line, and it’s one that Canadian investors should be furious about…
3. Kinder Morgan (KML, TSX) has hinted at a potential offloading of its remaining Canadian assets following the sale of the Trans Mountain Pipeline expansion to the feds…speaking at an energy conference yesterday, Kinder Morgan CEO Steve Kean said that while its Canadian affiliate has “attractive assets” and “no debt on the balance sheet,” the company’s primary objective was to use those projects to support the Trans Mountain expansion…“It’s a set of midstream assets in what we think is an attractive seller’s market for those assets,” he said. “We are going to explore that over the coming months”...the real message is, they’re fed up with Canada…meanwhile, the company is planning to return about $1.2 billion (Canadian) or $910 million (U.S.) to shareholders from its sale of Trans Mountain to the federal government…
4. The Dow is up 87 points through the first 30 minutes of trading…in Toronto, the TSX is 57 points higher while the Venture has dipped 3 points to 710…a modest pullback immediately after Labor Day, followed by the resumption of an uptrend the following week, is nothing new for the Venture – same trading behaviour last year at this time, so astute investors are doing some bargain hunting…Osisko Gold Royalties (OR, TSX) is acquiring an additional 1.75% NSR royalty from Barkerville Gold (BGM, TSX-V) on the Cariboo Property for the aggregate purchase price of $20 million…BGM has dipped to a strong long-term support area in the mid-to-upper-30’s…
5. Marathon Gold (MOZ, TSX) has intersected a wide, continuous interval of Gold mineralization at open-pit depths within the northeast end of the main mineralized corridor of the its Marathon deposit…drill hole MA-18–303 was successful in intersecting high-grade Gold intervals within en echelon stacked QTP veining, including 6.6 g/t Au over 5 m, 6.3 g/t Au over 6 m and 4.9 g/t Au over 6 m within a broader 149-m zone grading 1.54 g/t…this was part of the current continuing infill drilling program at the Marathon deposit designed to upgrade Inferred to the Measured and Indicated category…“The intersection of such a wide thick interval of mineralization with good Gold grades in the pit shell is very encouraging in upgrading the Marathon resource,” said Phillip Walford, President & CEO of Marathon Gold…“The infill program is going very well to upgrade the resources in advance of the Prefeasibility Study. We are also drilling to reduce the strip ratios of the current resource pits and seeking new pit resources at Victory Southwest to build on the economic model from the very positive PEA released May 17, 2018“…
6. Charlotte’s Web (CWEB, CSE), which opened at $9.70 when it started trading on the CSE last Thursday, has raised another $5.6 million from the completion of a non-brokered financing at $7 per share…the company, which now has 93 million shares outstanding, was created to indirectly acquire and hold all of the capital stock in CWB Holdings Inc., a market leader in the production and distribution of innovative hemp-based cannabidiol (CBD) wellness products…CWB products are made from high-quality and proprietary strains of whole-plant hemp extracts containing a full spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other minor but valuable hemp compounds…industrial hemp products have been demonstrated to have no psychoactive effects…CWB’s current product categories include tinctures (liquid product), capsules and topical products…CWEB is off 11 cents at $11.45 as of 7:00 am Pacific…
7. Bitcoin prices continued to get slammed today following a report that Goldman Sachs was dropping its plans for opening a trading desk for cryptocurrencies…the world’s largest digital currency has plunged sharply this week, touching a low this morning of $6,279…the price of other cryptocurrencies such as Ether, XRP and Bitcoin Cash also tanked on industry tracking site CoinMarketCap…digital currencies often move in lockstep with Bitcoin, which accounts for more than half of the digital currency market…prices began slipping yesterday following a Business Insider report stating that Goldman Sachs was pulling plans to launch cryptocurrency trading due to continued regulatory uncertainty…another bit of recent bearish news for cryptocurrencies came late last month when the U.S. Securities and Exchange Commission once again rejected proposals for a Bitcoin ETF as it continued to voice concern over fraud and possible manipulation in Bitcoin markets…in bids to attract institutional investors, multiple groups have attempted to obtain SEC approval for cryptocurrency-focused exchange-traded funds…according to data from CoinMarketCap, the cumulative market cap for all cryptocurrencies expressed in U.S. dollars has plunged approximately 70% since the beginning of 2018…
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AIS under pressure this morning. Do you see this as a buying opportunity, as it is at a 52 week low. Any thoughts on the permitting process that is now overdue?
Comment by Mike — September 6, 2018 @ 10:48 am
You guys think AIS is going to be ok? 11 cents is pretty cheap. Past the point of no return?
Comment by Ed — September 6, 2018 @ 11:12 am
The change at the top is going to make a difference, Ed…I would look for a recovery starting very soon…
Comment by Jon - BMR — September 6, 2018 @ 1:03 pm
Jon, BMR anybody… why the Bleep is GTT getting hammered so hard? These are great numbers and it is all new discoveries! I for one will definately feed on the spoils of others! Do you guys have any insights? Is it Shorts???
Comment by Patrick L — September 6, 2018 @ 4:29 pm
Personally why take a chance on AIS when there’s the Golden ( Nickel ) Triangle ready to explode. GGI and the others and then there’s CLM ready to make some BIGG PR’s and then there’s MOON drilling away and CCW !!! I’d look at AIS if there was nothing much else to look at !!
Comment by farmer — September 6, 2018 @ 4:41 pm
First off, Patrick, the GTT halt was just bad strategy, and 2) the news could have been communicated better (Regoci won’t make the same mistakes with GGI).
I think a lot of investors looked at the 40 m of high-grade at a depth just below 500 m and didn’t connect the dots with the porphyry and Saddle North. That kind of high grade at that depth correlates perfectly with a robust and Gold rich porphyry system at Saddle North, the porphyry being the “heat engine” driver of the entire Saddle mineralized system which appears to extend for at least 3.5 km.
In a vertical column porphyry, to 1,000 m or more, which is even just several hundred m wide for example, you could easily have at least 4 million ounces of Gold, plus of course Copper. On this one property you’ve got a separate Gold deposit (open-pit then potentially high-grade resources underground), and adjacent to it what could be a robust Gold-rich porphyry system. Special situation for sure.
Numbers from first hole at Saddle North should come very soon – GTT needs a game changer and Saddle North will be it IMHO. The porphyry brings scale. The grades need to be there but Saddle South provides clues they are, plus the 2 holes drilled at Saddle North last year were highly encouraging.
Comment by Jon - BMR — September 6, 2018 @ 5:54 pm
When do you expect results from the first hole at Saddle North Jon – couple of weeks?
Comment by Dan1 — September 6, 2018 @ 6:02 pm
The fact they seemed to rush this news from Saddle South immediately after Labor Day tells me they could be expecting Saddle North as early as next week, Dan1.
Comment by Jon - BMR — September 6, 2018 @ 6:11 pm
Hi Jon, do you think we could see any 3%-4% grades of cobalt with intercepts 10 meters or bigger for CCW? Sounds like that shaft #3 area is a bononza.
Comment by flyinthruu — September 6, 2018 @ 6:28 pm
Agnico Eagle hit something really special at Castle that the oldtimers had missed by just 20 feet, flyinthru…wide vein that went to depth with huge grades (assays as high as 1,000 ounces per tonne)…paid for a decade of production…a spectacular Cobalt rich vein, why not?…
Comment by Jon - BMR — September 6, 2018 @ 8:05 pm
Blue Moon (MOON.V) rises as zinc inventories fall
https://equity.guru/2018/08/29/blue-moon-moon-v-rises-zinc-inventories-fall/
Comment by robtr31 — September 7, 2018 @ 4:17 am
ALL EYES ARE ON GGI TODAY !!! Will there be a Halt today or will we simply just watch the sp climb steadily right back up to around 2.80 by the Close ?? CCW also might be climbing all day today and hopefully will end the week back around .70 ……… gonna be a good day !!!
Comment by farmer — September 7, 2018 @ 6:01 am
Farmer, based on what? Have I missed some news?
Comment by jeanmichel — September 7, 2018 @ 6:10 am
I sure hope your right farmer on these 2 farmer, I’m upside down right now and doesn’t feel right……good thing for my job!! GL to you and your group
Comment by Gregory — September 7, 2018 @ 6:11 am