Check back later this morning for Today’s Morning Musings.
1. Gold has pulled back sharply from an overnight high of $1,293 but Copper prices are now up 20% in 3 weeks after topping $2.50 this morning…billionaire investor Stanley Druckenmiller told CNBC this morning that he’s “quite, quite” optimistic” about the U.S. economy under a Donald Trump presidency…”I sold all of my Gold on the night of the election,” the founder and former chairman of Duquesne Capital revealed in a “Squawk Box” interview…he added that he’s betting on growth by shorting bonds globally and he likes stocks that respond to growth…he’s also bullish on the prospects for the dollar, especially against the euro…
2. The Dow is surging again this morning (new all-time high), up another 153 points and as of 7:00 am Pacific, and we have a remarkable new long-term Dow chart to share in today’s Morning Musings…the TSX is up modestly while the Venture continues to hold support, unchanged at 753 through the first 30 minutes of trading…
3. Canadian Zeolite (CNZ, TSX-V) gapped up again this morning on strong volume at the opening bell, touching a new high of 89 cents…it’s up a nickel at 84 cents as of 7:00 am Pacific…
4. Voisey’s Bay 2 potential in the Heart of Gold Camp?…important district development this morning and a game-changer for Garibaldi Resources (GGI, TSX-V) with the company reporting very high Nickel tenor in sulphides at the historic E&L deposit, 10 miles southwest of Eskay Creek, through recent trenching at the top of Nickel Mountain…the E&L has been confirmed as the only Ni-Cu-PGE system in this prolific high-grade district with Gold and Cobalt values as well…a 12-m trench sample returned 1.6% Ni and 1.6% Cu including 8 m of 2.3% Ni, 2.2% Cu, 0.32 g/t Pt, 0.39 g/t Pd and 0.10% Co…significantly, sulphur values averaged 12.8% for the full 12 m and 14.3% over 8 m including 22% in 3 m of massive sulphides…this provides an impressive tenor/grade range of 4% to 8% Ni and 2.1% to 10.9% Cu in 100% sulphide as announced by GGI…tenor would be consistent wherever sulphides have concentrated at the E&L, making the broad “Q” magnetic anomaly with a 600-m long keel a legitimate Voisey’s Bay-type target…the “Q” is 800 m south of the original deposit and at least 400 m below it…the company says further details on the E&L will be released shortly…
5. Parlane Resources (PPP, TSX-V) has come to life this morning after reporting soil sampling results of 35.9 g/t Au and >100 g/t Ag (over-limit) on its newly-acquired claims that have expanded its Bear Bear land package immediately north of and adjacent to New Gold’s (NGD, TSX) Blackwater deposit…PPP is up 3 pennies at 28 cents on volume of nearly 700,000 shares as of 7:00 am Pacific…
6. Spearmint Resources (SRJ, TSX-V) traded 28 million shares yesterday and is active again in early trading today after announcing that management will be actively evaluating additional corporate “growth drivers”…the new areas that will be investigated will potentially include, but will not be limited to, additional mining areas sectors such as base metals, agriculture, edibles, beverages and medical situations…SRJ is off half a penny at 3 cents as of 7:00 am Pacific…
7. Deveron UAS (DVR, CSE), the only Canadian publicly-traded service-based drone company with a focus on the agriculture sector, has secured a new contract with Bonduelle North America, the largest producer of ready-to-use vegetables in the world…”Bonduelle has a unique opportunity to support its growers through investing in leading technology that we ultimately hope will help our growers producer better crop…we look forward to continuing our work with Deveron into the 2017 grow season,” stated Bonduelle’s Jennifer Thompson…
Great news from GGI. I see that the cat is out of the bag re Asian investor possibility, on silicon inv.
Comment by charleybarley — November 10, 2016 @ 8:17 am
The Nickel tenor is world class, Charleybarley…investors have to understand the significance of tenor to a Nickel-Copper-rich magmatic sulphide system…the fact they’ve learned what the tenor is (and Kerr explains this in the report GGI cited), it’ll be consistent wherever sulphides have concentrated at the E&L…keep in mind, this is not a grassroots property…19 historical drill holes and a deposit outlined of 3 million tonnes of .80% Ni and +0.60% Cu, which lends support to the theory regarding the “Q” and the general idea that the oldtimers merely hit the edge of a major massive sulphide system perhaps comparable (without exaggeration) to Voisey’s Bay considering the district and the very unusual and broad “Q” anomaly with the 600-m keel…if those are semi-massive to massive sulphides, the grades will be exceptional (look at the range provided) given what they know now as the tenor…this is a high-grade Ni-Cu-PGE magmatic system, unique in all of B.C. at the moment…cobalt values in the sulphides of 0.10% are excellent as well (the Voisey’s Bay deposit had 0.12% Co)…this is indeed a major development in this camp, and there is likely more big news on the way (soon)…adding to my position as I see GGI looking more favorable than ever now…Nickel and Copper are also both going in the right direction…
Comment by Jon - BMR — November 10, 2016 @ 8:34 am
GGI – forgot that SI was still a thing! but they don’t have a GGI site , heck , they don’t have many mining stocks listed when compared to the big whoop days of 2000
Comment by david — November 10, 2016 @ 9:02 am