Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information!
1. Gold has traded between $1,193 and $1,203 so far today…as of 7:00 am Pacific, bullion is off $1 an ounce as investors digest another strong U.S. jobs report…speculative net short positions in Gold remain at extreme levels, despite some recent covering, while Silver now has the highest non-commercial net short position in its history…Silver’s 16% slump this year, almost double the loss for Gold, has taken it to the cheapest level versus the yellow metal since 2008 with the Gold-Silver ratio now at an extreme 84.3…a strong dollar and rising U.S. interest rates, and worries over industrial demand because of trade disputes and emerging-market turmoil, have contributed to pressure on Silver…base metals are relatively unchanged with Copper, Nickel and Zinc at $2.96, $5.60 and $1.10, respectively, while Cobalt is steady at $29.26…Crude Oil has pulled back 37 cents to $67.21 while the U.S. Dollar Index has retreated one-tenth of a point to 94.92…this morning’s job report, the last before the Fed meeting September 25-26, has cemented expectations for a rate increase later this month while reinforcing projections for a December increase as well…meanwhile, just when you thought this first week of September couldn’t get any stranger, comes this headline on CNBC: “Tesla stock tanks more than 9% after top executives resign and Elon Musk smokes weed on video”…
2. The Philippines, the world’s 2nd largest producer of Nickel ore, is now limiting the land that miners can develop at any one time as a series of new rules to protect the environment take effect…the new curbs, backed by President Duterte, target 29 of 48 mines operating in the country…Nickel ore output in the Philippines fell 10% in the first half of 2018 from a year earlier to 9.43 million dry metric tonnes, according to government data…11 of the Nickel mines had zero output during the period because their operations were suspended or they were under maintenance status…
3. Long-awaited U.S. wage growth posted its biggest increase of the economic recovery in August while payroll gains beat expectations and the unemployment rate held near a generational low of 3.9%, according to a Bureau of Labor Statistics report this morning…average hourly earnings rose 2.9% for the month on an annualized basis, while non-farm payrolls grew by 201,000…over the last 3 months, employers have added an average of 185,000 workers to payrolls per month, slightly outpacing 2017’s average monthly growth of 182,000…economists surveyed by Reuters had been expecting August earnings to rise 2.7%, payrolls to increase by 191,000 and the jobless level to decline one-tenth of a point to 3.8%…the wage growth was the highest since April 2009…
4. The Trump economy is booming at the same time as the Trudeau economy is floundering…the explanation for that is simple – the policy differences between the 2 countries have never been more stark…Canada lost 51,600 net jobs last month in a decrease that drove up the unemployment rate to 6% from 5.8% in July…average hourly wage growth, which is closely watched by the Bank of Canada, continued its gradual slide last month to 2.9% after expanding 3.2% in July and 3.6% in June…
5. The Dow is off slightly (49 points) through the first 30 minutes of trading…the NASDAQ is track for its worst 4-day start to September since 2008…in Toronto, the TSX has fallen 74 points….the Venture, which climbed as high as 729 in early trading yesterday, is off another 4 points at 714 as of 7:00 am Pacific…a strong support band exists between 710 and 720, and the shortened trading week is shaping up to end better than how it started…Organigram Holdings (OGI, TSX-V) has hit another new record high in early trading, up 50 cents at $7.25…yesterday, Organigram started trading on the OTCQX Best Market under the ticker symbol OGRMF…
6. Aphria (APH, TSX) has offloaded the last of its holdings which violate U.S. federal laws in a creative deal that satisfies regulators while keeping the option to get the stake back…the Leamington, Ont., marijuana grower said yesterday that it has sold its remaining 64 million shares in Florida-based, CSE-listed Liberty Health Sciences to a group of investors, including Aaron Serruya, a Liberty director…it added that the move means Aphria now complies with the TMX’s policy which prohibits issuers listed on its stock markets from breaching U.S. federal drug law…Cannabis is legal in some form in states including Florida…the stock sale marks the end of a year-long legal tussle that saw start-up Aphria defy and publicly oppose the policy imposed last October by the TSX…for Aphria, the move could pave the way for a U.S. stock listing and set it up to do business with bigger players, such as a big Canadian bank…through Liberty’s U.S. expansion, Aphria can line up U.S. assets it would like to own if cannabis becomes legal federally…
7. The Vancouver Sun reported yesterday that lawyer Paul Doroshenko has added to his extensive collection of alcohol-detection devices by acquiring a Drager DrugTest 5000, after the Trudeau government gave the go-ahead for the pot-testing device…in a piece written by the Sun’s Gordon McIntyre, Doroshenko’s firm, Acumen Law Corp., has had the operating manual for the German device for a year and acquired a model 6 weeks ago to test its reliability…essentially, the law firm believes the test is unreliable and that results are highly unlikely to lead to convictions in a Canadian court… “It took me 4 minutes to collect enough saliva,” he said, describing the swab supplied as being tampon-like…“Then the test itself takes 10 or 12 minutes”…“This is not minimally intrusive and it is not quick, it is a long and arbitrary detention on the basis of a suspicion”…
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That will be the day a cop tries to stick a tampon in my mouth!!! What a waste of money once again.
Comment by Laddy — September 7, 2018 @ 8:34 am
Nothing could be better for BLO than Team Trudeau dropping the ball right off the bat on marijuana testing (just like this incompetent bunch dropped the ball on Trans Mountain)…
Silly traders who dumped BLO down to nearly $1 just over a month ago on news the Feds have approved this other marijuana testing device (while BLO continues with development of the Cannabix Breathalyzer) should have had the opposite reaction!!!
Fed’s roadside drug testing that’s being rolled out is going to be a DISASTER…law firms are already lining up against it…police forces will be screaming for something that’s effective…and the push and the demand for BLO’s Gold standard of testing devices, one whose results will stand up in the court of law, will drive the stock to new highs…
BLO is like a call option on federal government incompetence…
Comment by Jon - BMR — September 7, 2018 @ 9:37 am
Jon, do you think Mr. Basa kicks off an awareness campaign shortly (like next week?)…
Comment by Dan1 — September 7, 2018 @ 10:31 am
Jon, as another week comes to an end and still no news from GGI,do you feel that next week might be the charm. I definitely do not want a “HALT” but a NR lets say next Friday, a couple of hours before market close to give everyone the weekend to digest the hopefully great news. Just wondering what your thoughts were on this Jon.
Comment by pole — September 7, 2018 @ 10:53 am
pole, I believe they must be getting very close and by the end of next week (mid-Sept.) is what I’m thinking (and hoping)…
Comment by Jon - BMR — September 7, 2018 @ 12:14 pm
Thanks Jon. Lets hope were both right in regards to the timing of the NR.
Comment by pole — September 7, 2018 @ 12:24 pm
On June 8, Mr. Regoci announced that “phase one” of the 2018 exploration campaign was underway, apparently to begin from an already established drill platform. Much speculation about possible explanations for the long delay delay, with “hope” expressed that initial results will be released soon.
A good communicator aware of the excitement his shareholders share with the GGI geological staff could surely have found a way to report the progress of the program even if, for some reason, some form of “tight hole” policy was deemed important by management and the board. Continued silence
in the face of Mr. Trump’s expanding and negative intrusion into global economic prospects appears unwise.
Boz67
My confidence is deteriorating,…perhaps exponentially.
Comment by Boz67 — September 7, 2018 @ 12:39 pm
Nice EOD close for CCW.
Comment by flyinthruu — September 7, 2018 @ 1:04 pm
PAS is starting to firm up as the mj legalization date nears. Buyers are back. Hope to hear some updates from the company before Oct.
Comment by adrobyshev — September 8, 2018 @ 7:27 am
Boz67, it seems you don’t like the “process” or “style” of Regoci, or Trump for that matter…but it’s results that count…Regoci delivered in 2017, despite many who criticized his style before and after the Nickel Mountain discovery, and he’s taking an approach that he believes will deliver in 2018…end of story.
Comment by Jon - BMR — September 8, 2018 @ 12:27 pm
Laddy, I’m sure many people have said the same about blowing into a box. Shouldn’t be an issue if you don’t drive impaired.
Comment by Charles — September 8, 2018 @ 4:26 pm
Jon, the sad reality is, even with the widespread use of devices as accurate as the currently in use Roadside Screening Devices such as Davtech’s Alco-sensor FST, the amount of money thrown to the defense of impaired drivers has long ago tipped the balance dramatically against convictions. I could use a super accurate FST or a much less accurate field sobriety test and it would make little difference when it came time to testify in court. The real determining factor comes down to the individual investigator’s ability to articulate and justify the impaired charge through notes, reports and ultimately testifying.
I run a lot of impaired investigations (in fact, I ran two last night) and I can tell you that the variety of tools I have at my disposal mean a lot less then my own experience, ability as an investigator and training.
There are very few choices that people could make that I have a greater distaste for then impaired driving. Becoming impaired in the first place is a weakness. Driving while impaired is nothing short of active criminal behavior and should hold a much higher punishment. Driving is a privilege, not a right, and I have many times walked onto an accident scene where innocent people are smashed beyond recognition as a result of an impaired driver. Because of those experiences I have an extreme sort of motivation to make sure that every driving investigation I run results in a conviction. It’s infuriating when Crown Council decides not to run trials based off investigator error.
I guess my point is; There is a HUGE need for devices like BLO’s roadside device, but I don’t believe the saliva testers will be as ineffective as people feel.
Feel free to moderate this if it is too much of a rant.
Comment by Charles — September 8, 2018 @ 5:04 pm
Charles, thank you for the “rant.” It’s good to hear the perspective from individuals such as yourself.
Comment by flyinthruu — September 9, 2018 @ 6:01 am
No Charles I don’t, just another cash cow for lawyers, waist of tax payers money for something they already know that is not reliable.
Comment by Laddy — September 9, 2018 @ 2:25 pm
Laddy, I agree with you, defense lawyers are licking their chops and will likely make a killing defending drug impaired drivers. Would the situation be any different if the federal government just approved the Cannabix roadside device instead of the saliva tester? I’m not so sure. I’ve done a little bit of reading on the Drager DrugTest 5000 (probably just enough to be dangerous) and, from my side of the fence, it appears to be a compelling product. As far as being invasive… it’s nothing compared with drawing blood roadside which has actually been on the table as a viable option.
As BLO goes, do I think there is a need and a place for their device? Absolutely. Will their use become wide spread and integral to prosecuting drugged drivers? I don’t know.
I’m not currently invested in BLO because I feel like their device could take a substantial amount of time to find a proven place in law enforcement. …that being said, imagine being in on Tazer International’s ground floor. The potential certainly seems to be there.
To me though, it seems like Cannabix’ technology could have a very unique opportunity in the auto industry… Auto makers are beginning to integrate deeper and deeper failsafes; including things like dashboard camera’s that track the drivers eye attention, helping investigators determine if things like cell phones were being used at the time of a collision.
I think if Cannabix could market their technology as an interlock system that would be really amazing. If they have the patents, that type of thing could be huge for them.
Said all that because I’m very interested to see how this whole thing plays out and how well Cannabix can capitalize on it. I don’t have access to the subscription information but from what I know of BMR their (your) research is next level. I would certainly suggest anyone defering to BMR’s due diligence over mine. Just wanted to share my perspective.
Thanks!
Comment by Charles — September 9, 2018 @ 6:24 pm