Check back later this morning for today’s BMR Morning Market Musings.
1. Gold has traded in a narrow range of $1,253 to $1,259 to begin the new week…as of 7:00 am Pacific, bullion is down $1 an ounce at $1,256…Silver, which has reeled off 9 straight winning weeks, has added 2 pennies to $18.34 while the U.S. Dollar Index has lost one-third of a point ahead of tomorrow night’s address to Congress by President Trump…
2. Crude Oil prices are pushing modestly higher this morning, above $54 a barrel…money managers raised their bullish U.S. Crude futures and options positions in the week to February 21 to the highest on record, according to data from the Commodity Futures Trading Commission…
3. The Venture, which had its 8-week winning streak snapped Friday, is up 1 point at 837 as of 7:00 am Pacific…Durango Resources (DGO, TSX-V) is following through on Friday’s huge jump with another gain of 14 cents to 32 cents as interest intensifies in the Windfall-Urban Gold Camp…Durango announced Friday that it received 2 offer on its Trove Property adjoining Osisko Mining (OSK, TSX)…
4. Engold Mines (EGM, TSX-V), which has made a new discovery at its Lac La Hache Property in British Columbia’s Cariboo, is up another 4 cents to 32 cents through the first 30 minutes of trading…drilling, which is ongoing, intersected 27 m of “intensely mineralized” material containing “abundant chalcopyrite, pyrite and magnetite” 1.8 km southeast of the company’s existing Copper-Gold-Silver-magnetite resource defined at the Spout deposit, as announced by EGM last Wednesday…
5. Integra Gold (ICG, TSX-V) released results this morning from an updated PEA for its Lamaque Project in Val d’Or with the PEA including resources from the company’s fall 2016 resource estimate…assuming a Gold price of $1,250 U.S. per ounce, an exchange rate of $1.30 CDN to $1.00 U.S., and a discount rate of 5% , Lamaque’s estimated pre-tax NPV is $602 million CDN while the pre-tax IRR is 55% (after-tax figures are $362.5 million and 43%, respectively)…payback from the start of construction on Lamaque is 3.8 years pre-tax and 4.2 years after-tax…the stock is off a penny at 83 cents as of 7:00 am Pacific…
6. Aldershot Resources (ALZ, TSX) has come to life in the last few sessions with initial results pending from a drill program at the company’s Gowganda Gold Project, optioned from operator Transition Metals (XTM, TSX-V)…ALZ and XTM are following up on the discovery of an Archean-syenite-associated Gold system initially made in 2010/2011 with some high-grade values…ALZ is up a penny at 9 cents in early trading while XTM has added 2 cents to 21 cents…
7. Deveron UAS (DVR, CSE) reported this morning that it completed over 500 commercial drone flights (incident free) in 2016, clearly establishing the company as North America’s leading drone-based data provider to the agricultural industry…Deveron, which started operations in Ontario, is now expanding aggressively into Western Canada and will be able to provide drone data solutions throughout the 2017 grow season to customers in Alberta, Saskatchewan and Manitoba – a potential market of 50 million acres…according to PwC, the commercial drone industry is reported to be $127 billion, with agriculture making up $32.4 billion…DVR is up half a penny at 29.5 cents as of 7:00 am Pacific for a market cap of only $5 million…
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