From Terrace, British Columbia
Gold has traded between $1,313 and $1,324 so far this morning…as of 6:00 am Pacific, bullion is up $4 an ounce at $1,319…Silver has retreated a nickel to $19.32…Crude Oil is off 13 cents a barrel at $45.62 after the U.S. Energy Department reported a 9th consecutive weekly drawdown of Crude stocks yesterday, although an overall build in Oil inventories capped price gains…Copper has added a penny to $2.25 while the U.S. Dollar Index is down one-quarter of a point at 96.86…
This is a slightly abbreviated edition of Morning Musings as BMR travels to northwest British Columbia’s Heart of Gold Camp for a site visit organized by Colorado Resources (CXO, TSX-V) which has already completed 37 holes (5,000 m) in its first month of drilling at the KSP Property…Morning Musings returns Monday when we’ll begin our coverage of the visit…Daniel will have articles tomorrow and Saturday on a Gold company in Quebec and another in Brazil (no regular Week In Review or Sunday Sizzler due to the Heart of Gold Camp visit, but keep checking for possible short updates from the camp near KSP in the event conditions allow us to do so over the weekend)…
The highly respected Amir Adnani, CEO of Uranium Energy Corp. (UEC, NYSE) and the founder of Gold company Brazil Resources (BRI, TSX-V) which is one of the best performers on the BMR Top Opportunities List, does NOT believe Gold is in a bull market like many investors do, though he says it’s coming. “I don’t think this is a bull market at all, I think this is a market that is recovering,” he told Kitco News at Freedom Fest in Las Vegas…our charts tell a much different story, but keep in mind that even a year after Gold hit an all-time high in September 2011, most investors felt the metal was still in a bull market when in fact it had entered a bear phase that would wipe 40% off its value…
The ECB has left its benchmark refinancing rate at 0% and its interest rate on deposit facility remained at minus 0.40%…the bank was widely expected to preserve its zero interest rate policy today, but the market is anticipating further monetary policy stimulus further down the line from global central banks…ECB President Mario Draghi is currently conducting a news conference (as of 6:00 am Pacific)…
The headline index for a survey of manufacturers in the Philadelphia area weakened in July, according to a report released this morning…the index for current general activity in the Philadelphia Fed’s manufacturing business outlook survey fell to minus 2.9 from a positive 4.7 in June, the regional bank said…
In today’s Morning Musings…
1. Updated Venture chart – don’t despair over yesterday’s 14-point drop!…
2. Crude Oil – potential lucrative trading opportunity on the horizon…
3. Part 2 of our exclusive interview with Colorado Resources‘ President & CEO Adam Travis…
4. Updates on TKK, OOO and LIX…
Plus more…click here to read the rest of this article, and all BMR exclusive content, by taking advantage of our July Special, or login with your username and password.
ALSO…click here for a free BMR eAlert in the coming days on a 9-cent junior ($2.3 million market cap) that’s set to SOAR on higher Silver prices.
This post is not to discount the hot golden triangle right now, but i would be focusing on accumulating mining companies in Peru.
Comment by dave — July 21, 2016 @ 9:39 am
Dave can you give us some examples thanks
Comment by brian — July 21, 2016 @ 10:23 am
Dave, any companies in mind? Both Camino Minerals COR and Montan Mining MNY have made announcements past couple days acquiring properties. Interested in MNY as they seem further advanced with a past producing mine and mill. Definite interest picking up in Peru
Comment by Roger — July 21, 2016 @ 11:18 am
peru – name a couple pls. as usual , they were in vogue and then out and maybe willing to bend again for new exploration
Comment by david — July 21, 2016 @ 11:25 am
Dave, hopefully that means another thumbs up to EQT.
Comment by Jamie — July 21, 2016 @ 11:44 am
Some of you know that I am currently in Lima Peru. My fiance is involved in government work specifictly directly under Humala. I helped with the campaign with the new president getting elected. Obama arrives in Lima next Tuesday to swear in the new elect Kuczynski. He will turn Peru around and put it in the forefront of South america. He is mining friendly and will change the situation here as part of his first order of business. Apparently, many brokerage houses in Canada are aware of his background. Look at the volume on some stocks I give here since he won the election on June 28. Many of these stocks are not very liquid. I was lucky to get a little of COR end of June.
Some that I have uncovered besides MNY are : Cor, ALT, CQR, RYO, and CSV. Pinetree owns a lot of CSV so be careful.
Jamie, Kyler is very familiar with MNY. A lot of anon buying EQT today. Be watching for acquisitions south of Lima along the coastline to the western edge of the Andies. I can’t make this a book. Do some DD. MNY should se .10 soon. Cheers
Comment by dave — July 21, 2016 @ 3:45 pm
As for the golden triangle, I found the news with TUD today very interesting. I spoke with a person with AMK today. He was in a hurry because his ride was taking him up to the property there. Hmmmmmmm, could they possibly have hit something big at the 1,000 meter mark and saw it was open at depth. Hmmmm. Maybe watch for stronger volume on TUD, TUO, AMK.
Comment by dave — July 21, 2016 @ 4:00 pm
Someone has any idea what’s going on with BLO? I’ve never been in this company, but shares are back in the high tens’. I’m not a big TA expert, but seem it broke down 0.20$ support and was quite hammered yesterday to a low of 0.14$. Any comments?
Comment by rgiroux — July 22, 2016 @ 4:46 am
MNY + Kyler Hardy . Might Hardy know Jenna Hardy on the MNY board! lol. thx for the list
IO is also in Peru, they had a deal to buy a property w/ a mill from MNY and backed away from it a couple months later
Comment by david — July 22, 2016 @ 5:23 am
Hi rgiroux, just have a couple minutes to respond as we’re departing for KSP staging area at 7 am. John can chime in with some more TA on BLO, but if you look at past charts you’ll see great support at .15. Yes, there is some technical weakness at the moment and of course some selling from the PP completed earlier. One thing we’ve learned about BLO is that these are the times when it makes sense to accumulate prior to the next run. Every one of these periods has been a buying opp. going back to 2014.
Things are looking exceptionally good up here – I hope to post a bit of material tomorrow sometime. Tremendous pace of drilling by CXO. Some eyes are really going to be opened. That’s all for now…
Comment by Jon - BMR — July 22, 2016 @ 5:48 am
CXO – is the drilling so far in an area of past drilling or is it mixed, some new and some old? if they are into newer areas, when do those results come along? thx
Comment by david — July 22, 2016 @ 6:14 am
Dave : Your list of Peru plays,one being, cqr-Conquest, i follow that because of there RedLake play next door to/surrounded by GoldCorp,and there 50%JV with Detour Gold (cheap spec.at.05), but i don’t or haven’t of yet found anything to do with Peru .We talking the same company ?
Comment by bigbear — July 22, 2016 @ 6:44 am
Big bear – my bad CQR should have not been on the list. Had it on my mind as I was looking at it just before I gave other symbols.
CXO – 500k on offer at .48 ?????????
EQT – just from the chart , looking like next leg up soon. Hint.
COR – nothing showing on offer after .30.
Comment by dave — July 22, 2016 @ 8:02 am
ALT – is about to fly. Also, AUG is the same company that went in with HSR
Comment by dave — July 22, 2016 @ 8:21 am
Dave – shush on COR – I don’t have my full position yet, been accumulating since PDAC. 🙂
Comment by Mmurphy — July 22, 2016 @ 9:03 am
YFI – could start a correction here soon, be careful if anyone is in it.
Comment by dave — July 22, 2016 @ 9:06 am
Can we get a “Doctor” update on GGI. If this is headed for multiples of where they were a month ago it is sure headed in the wrong direction. Why does this CEO put out no news regarding drill results and updates from any of the properties.
Comment by Ed — July 22, 2016 @ 9:31 am
CXO is looking like a last hour plunge here from .46
Comment by dave — July 22, 2016 @ 11:03 am
Dave : Thanks for clarifing the cqr story, but checking into ALT you got my interest, Aug involvement (hsr) , so thanks for the heads up,ill be digging into that one a bit more, if not taking a position to see where it might go , .05 worth the shot on the story. Thanks
Comment by bigbear — July 22, 2016 @ 1:13 pm
Well, there is your PP on EQT, probably to buy a property in Peru that Kyler has his eyes on. Only problem is those shares are getting up there. It looked like it was ready to turn up again. If he gets another property it better be a monster.
Comment by dave — July 22, 2016 @ 2:11 pm
Add Wrr to the list. They have been way to quiet since April drilling
Comment by Matt — July 22, 2016 @ 3:07 pm
Ed – GGI needs more than a doctor, they need an emergency room
Comment by dave — July 22, 2016 @ 4:16 pm
Agreed Dave on GGI, their Aug 14/2015 news release stated they had completed 7 holes at La Patilla. Did they ever announce the results of these holes? Did I miss it? I have lost confidence in this company, at the very least they should let investors know as I assume these results were not good. I am thinking it’s time to move on and apparently judging by the selling other investors have come to the same conclusion.
Comment by Danny — July 22, 2016 @ 6:05 pm
Tkk has huge silver and cobalt leftovers from previous miners + has optioned 50 % of its newly found gold corridor in the new Haultain gold district to Gbb . Gbb has established 2.6 m oz gold resource in Quebec . The TKK grab sample of silver cobalt 2 years ago was rediculous , a mass of silver and cobalt at 1200 g / ton silver , the sleeper silver cobalt gold story of Ontario. Tkk also controls the invaluable mine shafts in the region. Tkk around 25 million shares @9-10 cents so market value of just over $2 million.
Comment by donald — July 23, 2016 @ 4:08 am
Looking at the 10 year chart on the tsx.v, we have formed a nice cup here at the bottom. We may get the little handle correction here until end of August maybe, and then bam, up we go.
Comment by dave — July 23, 2016 @ 7:50 am