Check back later today for Danniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.
1. Gold has traded between $1,286 and $1,292 so far today…as of 7:00 am Pacific, the yellow metal is off $2 an ounce at $1,288…Silver has slid 5 cents to $16.36…Nickel has been the big winner of the week, up another 7 cents at $6.68 as the rising impact of the electric vehicle market continues to boost sentiment…the Nickel chart is exceptionally bullish…Copper is down a penny at $3.09…Zinc is flat at $1.38 while Cobalt is unchanged at $41.28…on the Oil front, WTIC is up slightly at $71.52 while the U.S. Dollar Index has retreated one-tenth of a point to 93.46…Gold discounts in India widened to the highest level in nearly 2 months this week due to sluggish demand amid high local rates, while buying in other major Asian centers ticked up as global prices slid to 2018 lows…in top consumer China, demand for physical Gold has improved in recent days with premiums of $8 to $9 per ounce being charged over the benchmark price, versus $6 to $8 last week…
2. WTIC is headed for its 3rd straight weekly gain with prices steadying above $71 a barrel…strong demand, looming sanctions on Iran, plummeting Venezuelan production (isn’t socialism great!) and Nigerian disruptions are all contributing to a robust market…Brent Crude, the international benchmark, is up for the 6th straight week and broke through $80 yesterday for the first time since November 2014…British bank Barclays says it expects average prices of $70 per barrel for Brent this year and $65 a barrel for 2019, up from estimates of $63 and $60 previously, but they are likely on the low side given Crude’s overall technical posture and improving fundamentals…
3. Garibaldi Resources (GGI, TSX-V) has expanded to a 40-person Camp at Nickel Mountain as the company prepares to commence drilling in the next 7 days…state-of-the-art geophysics is being carried out by 2 companies including industry leader Lamontagne for precise drill hole locations within the HC-1 conductor south of 2017 Discovery Hole EL-17–14…that was the last hole of the 2017 program and it returned a whopping 8.3% Nickel and 4.2% Copper, plus 0.19% Cobalt, 6.4 g/t combined Platinum-Palladium, 1.1 g/t Gold and 11.1 g/t Ag over 16.7 m (approximate true width) within a broader 40.4-m mineralized zone highlighted by 3.9% Nickel and 2.3% Copper starting at a depth of just 100 m…18 kilometers of heavy gauge, insulated Copper wire is being used as part of a hybrid ground-air/deep penetrating HeliSam survey over a broad area in all directions surrounding the Discovery zone, the first time such technology has been used in the prolific Eskay Camp…meanwhile, preliminary results from a VTEM survey completed during Q1 have extended the Nickel Mountain trend of conductors by 3.5 km to the northeast of “Anomaly A” which is approximately 6 km northeast of the discovery zone…the Nickel Corridor in the heart of the producing Eskay Camp is now more than 10 km long and reaches onto Metallis Resources‘ (MTS, TSX-V) Kirkham Property contiguous to the southern border of GGI’s Nickel Mountain…Nickel grades in massive sulphides at Nickel Mountain are among the highest ever recorded in global magmatic Nickel sulphide deposits, according to Nickel sulphide specialist Dr. Peter Lightfoot who has published the only comprehensive textbook on the Sudbury Nickel Camp…in the Eskay Camp, grade and tonnage have typically come together…
4. The Dow has edged up slightly as the U.S. and China continue with a 2nd round of trade talks…as of 7:00 am Pacific, the Dow is 7 points higher…in Toronto, the TSX is relatively unchanged at 16,141 but appears set to post its first weekly close above 16,000 since January…the Venture is up 4 points at 785…Canadian volumes are light entering a long holiday weekend…Cornerstone Metals (CCC, TSX-V), which has had impressive results from its Carlin Vanadium Project in Nevada, has pushed quite a bit higher since yesterday on no news with the stock up another 3 pennies at 60 cents as of 7:00 am Pacific…keep in mind that the trading symbol for National Access Cannabis on the Venture has changed from NAC to META…there is no change in the company’s name and no consolidation of capital…
5. Hundreds of technology firms raising money in the fevered market for cryptocurrencies are using deceptive or even fraudulent tactics to lure investors, according to a report from the Wall Street Journal…in a review of documents produced for 1,450 digital coin offerings, the WSJ found 271 with red flags that include plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams…meanwhile, British Columbia’s securities regulator has joined its Ontario counterpart in issuing a warning about investing in cryptocurrencies amid worries about scams in the market…the B.C. Securities Commission has noticed an increase in the number of cryptocurrency offerings involving an initial coin or token offering, in which companies try to raise capital by issuing newly invented coins or tokens…it says B.C. residents should exercise extreme caution when deciding whether or not to invest in an ICO or ITO as some companies follow through on their business plan or idea and others do not…
6. How Canadians are being abused at the gas pumps by their tax-and-spend governments: “On average, 33% of the price at the pump is gas taxes,” says Canadian Taxpayers Federation (CTF) federal director Aaron Wudrick. “If the federal government proceeds with its ill-advised carbon tax (increase), things will only get worse. In fact, if existing taxes on gasoline were simply labelled as ‘carbon taxes,’ they would already be at an average of $192 per tonne. Gas prices across most of the country are going through the roof. Canadians need relief, and eliminating the federal excise tax is an immediate way to help ease that burden.” The report from the CTF shows that taxes make up most of the price difference from province to province…Manitoba and Saskatchewan have the lowest gas prices because they have the lowest gas taxes, while Vancouver has the highest prices because it’s subject to some of the highest gas taxes…meanwhile, the B.C. government’s illegal and unconstitutional obstruction of the Kinder Morgan pipeline expansion will only make matters worse…when the Green Monster grabbed the reigns of power in that province last year, it promised to make life more “affordable” for British Columbians…that, of course is socialism’s Great Lie…destruction of wealth makes life less affordable…
7. Asia is is now home to more billionaires than North America, according to the latest study from the ultra high net worth research firm Wealth-X… the region’s billionaire population shot up by almost a third last year (29.2%) to 784 individuals, Wealth-X’s Billionaire Census 2018 found…North America, meanwhile, experienced more modest gains of 11.2%, taking the number of billionaires who reside there to 727…this marks the first time Asia’s billionaire population has exceeded that of North America…of course the U.S. remains the country with the great number of billionaires – 680 individuals – but the increase in Asia marks a broader shift in regional wealth trends…Asia is now home to 28.5% of the world’s 2,754 billionaires, slipping in just behind Europe which leads with 29.8%…North America now ranks as the world’s 3rd most populous continent for billionaires…well behind in 4th, 5th and 6th spots, respectively, are the Middle East, Latin America and the Caribbean…
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Think we start chipping away at mid/high 80s on GTT next week Jon?
Comment by flyinthruu — May 18, 2018 @ 10:38 am
I believe so, flyinthru…wouldn’t be surprised to see some news from GTT by sometime next week as they’ll be closing in on drilling as well…
Comment by Jon - BMR — May 18, 2018 @ 12:36 pm
Very strange no shares trading on MOON today. I show zero volume.
Comment by fooser — May 18, 2018 @ 12:44 pm