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 $1,311 and $1,318 so far today…as of 7:00 am Pacific, bullion is off $2 an ounce at $1,315…SPDR Gold Shares, the world’s largest Gold-backed exchange-traded fund, posted a modest inflow of roughly 15 metric tons during 2017…it’s reasonable to expect more ETF buying in 2018, enough to help Gold reach new multi-year highs…Silver is flat at $17.13…buying Silver on January 5 and holding through February 14 has resulted in a winning trade in 13 of the last 15 years…another factor in Silver’s favor at the moment, from a contrarian perspective, is that COT data has shown a net short position in the metal for the 3rd straight week…Copper and Nickel have retreated slightly to $3.21 and $5.55, respectively…Zinc is steady at $1.52…Crude Oil has jumped 64 cents to $61.01 while the U.S. Dollar Index has recovered one-quarter of a point to 92.12…
2. Gold prices in 2017 made their biggest gains since 2010 but U.S. Mint coin sales were the weakest in a decade…the U.S. Mint confirms that the sales of American Eagle Gold and Silver coins were the lowest since 2007 and American Buffalo coins had their worst year ever…the majority of analysts blamed the results on range-bound Gold prices and excitement surrounding the U.S. equities market…the World Gold Council described the U.S. bar and coin market as lackluster in 2017 with demand only at 7.3 metric tons in the 3rd quarter, down from 17.7 tons during the same period a year earlier…2016 was the 3rd best year for bar and coin demand on record in the United States…
3. Crude Oil is getting a boost from events in Iran where anti-government demonstrators have taken to the streets over the past week to voice anger over the country’s economic woes…21 people have reportedly been killed and 450 people arrested during the protests which have become the most powerful challenge to the hideous, corrupt Iranian regime since mass demonstrations in 2009…the situation has reignited a geopolitical risk premium in global Oil markets amid concerns the civil unrest could result in Crude supply disruptions out of the Islamic Republic…so far, protests in Iran have had no impact on the country’s Oil production or Oil shipments but the situation could change if the U.S. were to impose fresh sanctions or dismantle the very flawed Obama-led international agreement to curb Iran’s nuclear program…that deal proved to be a gift to Iranian leaders who continue to sponsor terrorism and forment trouble in the Middle East…
4. Long lineups to buy marijuana in California and a new ETF sent Canadian pot stocks roaring into the new year yesterday, and that action has continued today…the market for marijuana in California, the world’s 6th largest economy, is expected to reach $3.7 billion (U.S.) this year and more than $5.1 billion in 2019, according to research firm BDS Analytics…7 other states and the District of Columbia have legalized recreational weed, boosting a market that Cowen & Co. predicts will grow to $50 billion by 2026, up from $6 billion in 2016…ETFMG Alternative Harvest, a U.S. ETF that started trading December 26, is attracting strong interest…the ETF is dominated by Canadian stocks, including Canopy Growth (WEED, TSX), MedReleaf (LEAF, TSX) and Cronos Group (MJN, TSX-V)…Canada’s Horizons Medical Marijuana Life Sciences ETF (HMMJ.U, TSX) is up for a 7th straight session, surpassing a market cap of $500 million…
5. The Dow is up 56 points through the first 30 minutes of trading after a 105-point gain to kick off 2018…the TSX has added 31 points while the red-hot Venture, after a confirmed breakout above critical resistance at 850, has surged another 16 points to 888…Cannabix Technologies (BLO, CSE) gapped up to a new all-time high of $3.24 at the open and is holding that level as of 7:00 am Pacific…Naturally Splendid Enterprises (NSP, TSX-V) is drawing fresh interest this morning after announcing that Howe Street veteran Doug Mason has accepted the position of interim CEO…Mason has built a reputation for product innovation during a career in the public markets that spans more than 2 decades..
6. Datametrex AI (DM, TSX-V) and its San Francisco based joint venture partner Bitnine Global Inc. have arranged a non-brokered private placement of up to $2.5 million for Graph Blockchain…the financing is direct into the private company “Graph” so as not to dilute Datametrex AI…Graph has completed the previously announced prototype for a utility company to analyze electric vehicle charging stations and has a contract with Revive Therapeutics (RVV, TSX-V) to develop the blockchain component in Revive’s proprietary patient-focused program…that program is enabled by DM’s artificial intelligence (Nexalogy) dedicated to the medical cannabis industry…
7. Great sign of an accelerating bull market in the metals sector in 2018 – volume is one of the best indicators of all, and exchange operator CME Group reports that average daily volume in metals markets increased 23% to a record 568,000 contracts during 2017…this far exceeded the average daily volume for all CME markets combined (gains in average daily volume for other markets included interest rates, 9%; foreign exchange, 7%; energy, 6%; and agriculture, 2%)…significantly, for just the month of December average metals volume rose 48% year-on-year to 531,000 contracts daily…
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Jon, do you have an opinion on GQC? Management waiting on the Exploitation license. Apparently they are very close. If that happens, do you see a nice bump in the SP?
Comment by Dan1 — January 3, 2018 @ 11:29 am
Chart looks ready to move to me Dan1. When gold gets to $1350, which should be soon, I expect a lot of these quality gold companies to fly. Interesting to see what Jon thinks.
Comment by Patrick — January 3, 2018 @ 12:02 pm
Earlier today a fellow Subscriber to BMR asked me which Weed Stock I would recommend at this point, and I certainly didn’t reply with WEED or ACB or APH ….. not even MGW !!! Having taken part in the only Initial PP of a Weed Stock and having seen great results on my Investment, I came out with TGIF …. a very slick Company with all the Bells and Whistles and they are generating revenue …. something a lot of others are not !!! Any comments on my first pick for a Cannabis orientated Stock ??? Ive been adding the past couple of days and have yet to exercise my .30 warrants !! Farmer Tom ….. will CYX continue moving up tomorrow after today’s performance ???
Comment by farmer — January 3, 2018 @ 3:17 pm
Jon
Don’t you think it is just a matter of time before AIS really takes off, seems like it has catching up to do to the likes of
Millennial Lithium Corp. (TSXV:ML) – $3.70
Lithium Exploration & Development
Market Cap: $263 Million
Millennial Lithium is a Canada-based exploration stage company with three properties under development. The Company’s flagship project is the Pastos Grandes Project, which comprises 6,360 hectares in the Salta Province, Argentina. Millennial is currently engaged in financing the project and expects Pastos Grandes to begin production in 2020.
AND
Neo Lithium Corp. (TSXV:NLC) – $2.27
Lithium Exploration & Development
•Market Cap: $265 Million
Neo Lithium is an exploration-stage company advancing its 3Q Lithium Brine Project in Argentina. The Company’s property comprises 35,000 hectares and is located in Latin America’s Lithium Triangle in the province of Catamarca, Argentina. The project has a Pre-Feasibility Study in place, which indicates an after-tax NPV of US$1.2 Billion (discount rate 8%).
Looks to me AIS is going to be a huge winner for your subs in 2018 if they execute according to the CEO as he states in the interviews…He mentions possible production in 2019, ML says they will be in production in 2020 and they are already at 263m cap
Comment by Gregh — January 3, 2018 @ 4:04 pm
Yes, Greg, AIS is on the cusp, poised technically and fundamentally…touched $1.39 today, just a penny below new all-time high…
Comment by Jon - BMR — January 3, 2018 @ 4:12 pm
Hi Jon, are tech companies (or perhaps non-resource sector companies) simply better at keeping investors updated via NRs? Seems like a lot of your fintech picks have a steady news flow while others, like GGI/CSR (amoung others), require a bit more patience. Thanks for the “education” into expectations.
Comment by flyinthruu — January 3, 2018 @ 4:45 pm
It can be a lot easier, flyinthru, to put out a NR if you’re a non-resource company (tech, marijuana, whatever), as exploration companies have NI-43-101 issues to deal with and often a lot of interpretation and “pulling together” of data (including maps) which complicates matters, particularly when significant/detailed results are involved…
Comment by Jon - BMR — January 3, 2018 @ 6:00 pm
Ok, thanks Jon. I just scratch my head when CSR will state more news by end of month and then don’t. Not a huge deal by any means but just trying to better appreciaton what goes on behind the scenes…like with GGI, didn’t know assays for nickel took longer than gold. All these little things add up for the newer folks like me…just helps me appreciate things more. Thanks again!
Comment by flyinthruu — January 3, 2018 @ 6:11 pm
In regards to GGI, I am quite happy to wait as long as needed and let experts do their work. In reality, us shareholders will be much better off because of it – no need to rush.
Comment by flyinthruu — January 3, 2018 @ 6:13 pm
Hey Jon. Any updates on Gen III took a bit of a dip today. Thanks.
Comment by Shawn — January 3, 2018 @ 6:23 pm
Just the nature of the exploration business, flyinthru, especially now with more companies much more busy on multiple fronts, and rapidly evolving developments in different sectors…labs are also very unpredictable of course…in the case of CSR, I’m sure we’ll hear from them very soon and it’s going to be exciting I’m sure with the name change and everything that’s happening in the Cobalt sector and northern Ontario…
Comment by Jon - BMR — January 3, 2018 @ 6:25 pm
You’ve got me excited Jon. I’ve done my extra DD based on what you’ve presented us with and I’m sold….got some friends/family into it as well…along for the ride.
Comment by Shaun — January 3, 2018 @ 6:36 pm
Jon:
How does CSR compare to First Cobalt?
They have been unbelievably active and raised a lot of money.
Thank you.
Comment by GoldenFalcons — January 3, 2018 @ 7:06 pm
Myself I sold out ACB for a great profit at mid 6.00 range… Healthy win but… Now not so happy! Lol, well my next Cannabis Target is MDM Marapharm… up and comer which I forsee in the 10.00 range within six months. Great exposure to USA, Vegas and now California. Any comments by one and all? Lets Talk!!!
Comment by Patrick Lamane — January 3, 2018 @ 8:48 pm
Dear Mr Regoci, please note how Datametrix keeps the news flowing and the share price bouyant. Cheers.
Comment by DavidW — January 4, 2018 @ 4:36 am
Different type of situation IMHO. We know this is an earth-shattering type of discovery that most minds don’t believe is there. They just need to put all of the facts together. News for no real reason would make it seem like a pump and take away from things….IMHO
Comment by Shaun — January 4, 2018 @ 5:22 am
I say that as a shareholder….I can wait…
Comment by Shaun — January 4, 2018 @ 5:22 am