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November 7, 2016

7 @ 7:00

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Check back later this morning for today’s Morning Musings.

1. Gold has given up two-thirds of its gains from last week after the FBI announced yesterday, immediately ahead of tomorrow’s elections, that the agency has reviewed all of the Hillary Clinton emails recently discovered in an unrelated case and that James Comey’s conclusion in July not to prosecute Clinton after the agency’s original investigation into her use of a private email server still stands…

2. Gold prices have posted strong weekly gains of 2.9%, 1.08% and 1.47% during each of the past 3 U.S. election weeks (2012, 2008 and 2004), respectively…

3. The main equity averages are buoyant today after last week’s slide as they price in a Clinton victory tomorrow, though fivethirtyeight’s models still give Donald Trump a 35% chance of winning the presidency…the S&P 500, attempting its longest losing skid in 36 years, is up 32 points at 2118 as of 7:00 am Pacific…the TSX is 115 points higher after 30 minutes of trading but the Venture is off 1 point at 761 on the dip in Gold

4. Drill result of the day goes to Kirkland Lake Gold (KLG, TSX) –  651.8 g/t Au (93.6 g/t cut) over 3.8 m, including 2,846.1 g/t Au over 0.5 m, in hole 532921 from underground exploration drilling confirming the easterly strike extension of the South Mine Complex (SMC) at the Macassa Mine Complex in Kirkland Lake…the stock has shrug off the news due to lower Gold prices with KLG down 35 cents at $8.93 as of 7:00 am Pacific

5. Crude Oil prices, after falling nearly 10% last week, have bounced higher this morning on a commitment from OPEC to stick to a deal to cut output…many analysts, however, are still expressing doubts regarding the feasibility of the group’s plan…WTIC is up 43cents at $44.50 as of 7:00 am Pacific

6. Orex Minerals (REX, TSX-V) and Canasil Resources (CLZ, TSX-V) have commenced a new round of diamond drilling at the Sandra Escobar Silver discovery in northern Durango State, Mexico…this Phase program will utilize 2 drill rigs and consist of approximately 4,000 m in 10 to 15 drill holes…Orex has an option to earn up to a 65% interest in the project from Canasil

7. Cannabix Technologies (BLO, CSE) is bouncing back from an 8-cent drop Thursday and Friday with a gain of a nickel to 58 cents through the first 30 minutes of trading (+300,000 shares)…updated BLO chart in today’s Morning Musingsvoters in 5 U.S. states – Arizona, California, Massachusetts, Maine and Nevada – will decide tomorrow whether to legalize the recreational use of cannabis…

11 Comments

  1. positive news on cnz

    Comment by dave — November 7, 2016 @ 7:23 am

  2. Looks really good, dave, and the CNZ chart is one of the strongest at the moment on the Venture. Another example also of the many wide applications of Zeolite.

    Comment by Jon - BMR — November 7, 2016 @ 7:54 am

  3. 3 d signatures inc. is running. V.DXD cancer tech. looks like a fantastic winner.

    Comment by charleybarley — November 7, 2016 @ 7:55 am

  4. nice to see copper continuing in the upwards direction.

    Comment by Mmurphy — November 7, 2016 @ 8:17 am

  5. Indeed, Mmurphy, Dr. Copper seems to be saying something positive…we’ll check out the chart on Copper tomorrow…

    Comment by Jon - BMR — November 7, 2016 @ 8:46 am

  6. I requested a chart on SIC with stockcharts, we now have a chart

    Comment by dave — November 7, 2016 @ 9:12 am

  7. Thanks, Dave, that’s helpful.

    Comment by Jon - BMR — November 7, 2016 @ 10:01 am

  8. I did as well Dave… it was added today. Multiple requests usually gets some action.

    Comment by John - BMR — November 7, 2016 @ 10:17 am

  9. WOW nickel, up 32 cents today!!

    Comment by tony t — November 7, 2016 @ 12:22 pm

  10. Indeed, tony t, above $5 for first time all year…6% move today to lead the metals…

    Comment by Jon - BMR — November 7, 2016 @ 12:42 pm

  11. Thanks Jon, look forward that chart.

    Comment by Mmurphy — November 7, 2016 @ 1:16 pm

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