Gold is looking to post its fifth straight weekly gain…as of 5:40 am Pacific, the yellow metal is down $8 an ounce at $1,750…it pulled back about $10 an ounce immediately after the U.S. employment numbers were announced at 5:30 am Pacific…Silver has backed off 39 cents at $33.97…Copper is up 2 pennies at $3.82…Crude Oil is 21 cents lower at 96.15 while the U.S. Dollar Index is off slightly at 78.86…
U.S. employment growth was unexpectedly strong in January with 243,000 new jobs created, lowering the unemployment rate to 8.3%…
U.S. stock index futures point to a very strong open this morning…
European share prices edged up this morning to hit a new six-month high, helped by encouraging macroeconomic data in the euro zone and the UK…the euro zone’s private sector economy snapped a four-month decline in January and expanded, albeit very weakly, according to a business survey that hinted the euro zone may avoid recession…Markit’s Eurozone Composite Purchasing Managers Index (PMI) rose in January to 50.4 from 48.3 in December, unchanged from a preliminary reading and above the 50 mark that denotes growth for the first time since August…
The TSX Venture Exchange jumped another 23 points yesterday to close at 1661, just 14 points below a level where it retreated from last November after a powerful run that started in early October…much has changed over the past month and 1675 will be taken out as the Venture is now in a bull cycle with 2000 our next major target in the coming months…any dips along the way – minor pullbacks of less than 10% for example – must be viewed as buying opportunities in a market such as this…the Venture is about to post its 7th straight weekly advance…it’s interesting to note that last November, the Venture’s 1,000-day moving average (SMA) provided resistance at 1675 – the Index recently broke through that still-declining SMA (it will reverse to the upside later this year, ending a decline that started in late 2008) and is now taking aim at the 500-day SMA which is flat at 1800…
This morning, John examines three situations that are looking very bullish (Adventure Gold, Cap-Ex Ventures and Arian Silver) and updates another (Canada Rare Earths) that we have been watching closely over the past couple of months…
We have written much about Adventure Gold over the last year-and-a-half and it remains one of our favorite plays in northwest Quebec…it’s blessed with strong management, a smart geological team, excellent properties and a very valuable major investor/strategic partner in Windermere Capital out of Montreal…AGE’s flagship property is Pascalis-Colombiere near Val-d’Or, a former producer immediately adjacent to Richmont’s (RIC, TSX) Beaufor Mine…we’ve speculated before about the possibility of Richmont making a move down the road to acquire Pascalis-Colombiere, or perhaps even all of Adventure Gold, as such a step would appear to be a strategic fit for Richmont…AGE closed at 46.5 cents yesterday on its strongest volume in over two months and the stock has finally broken above a downsloping resistance line as John points out in the chart below…the outlook for Adventure Gold in 2012 is very bullish…
Note:Ā John, Jon and Terry do not hold currently hold positions in AGE.
Cap-Ex Ventures (CEV, TSX-V) continues to work on a major iron ore discovery near Schefferville, Quebec, and the involvement of Forbes & Manhattan Inc. in this company gives Cap-Ex all the resources it needs to succeed in a major way…the chart looks solid as John shows below…
Note: John, Jon and Terry do not currently hold positions in CEV.
Arian Silver (AGQ, TSX-V) has done well since we pointed it out to our readers last month when it was trading in the mid-to-upper 20’s…AGQ is a small Silver producer in Mexico with an excellent opportunity to significantly expand resources and mill capacity at its flagship San Jose Project…AGQ closed yesterday at 38 cents…as BMR readers know, we’re extremely bullish on Silver and a company like AGQ provides investors with great leverage to a rising Silver price…
Note: John holds a position in AGQ (Jon and Terry do not)…
Canada Rare Earths (CJC, TSX-V) got ahead of itself on speculation last December and has dropped back into the mid-to-upper 30’s where it’s at a much more attractive level for patient investors…drill results from its Goeland Project in Quebec are expected this month…we like the project’s long-term potential but we’re not prepared to bet the farm on upcoming assay results just because the visuals were encouraging…John updates the CJC chart below…
Note: John, Jon and Terry do not hold positions in CJC.
BMR – Note: John, Jon and Terry do not currently hold positions in CEV.
Bert – What a surprise, i felt sure that Jon mentioned sometime earlier
that he held a position in CEV. Am i mistaken or did you sell out ?
Comment by Bert — February 3, 2012 @ 5:55 am
Dec. 22/2011 — Note: Jon holds a position in Cap-Ex Ventures (John and Terry do not).
Comment by Bert — February 3, 2012 @ 6:05 am
I agree Bert, some strange trading by the guys. So often your charts are giving a buy signal but the stock has already moved up considerably. Why not buy when they are fundamentally cheap with newsflow to come, whatever the chart says.
Comment by Mark — February 3, 2012 @ 6:56 am
John – If you have time and if the chart looks interesting to you, would you be able to take a look at Levon Resources (LVN,TSX-V)? I was surprised by the downturn after the recent breakout but it looks as if it may have bottomed? Thanks.
Comment by Andrew — February 3, 2012 @ 8:17 am
Hi Andrew, did you get your shares at 19.5, 20 two days ago š
Comment by Martin — February 3, 2012 @ 8:39 am
Bonjour Martin – Yes, the day RBC flushed I picked up my shares!:)
Comment by Andrew — February 3, 2012 @ 8:46 am
Good, i am not a patient investor as you are, i always pick the ask š
Comment by Martin — February 3, 2012 @ 8:53 am
Haha, I’m from England so I learned “look after the pennies and the pounds will take care of themselves” š
Comment by Andrew — February 3, 2012 @ 9:14 am
Andrew – Iām from England
Bert – Remember i called you Prince Andrew
Comment by Bert — February 3, 2012 @ 9:20 am
Drat – missed that RBC flush at .19 š
Comment by Andrew — February 3, 2012 @ 10:43 am
Funny – I have a brother Charles too!
Comment by Andrew — February 3, 2012 @ 10:44 am
Andrew
Another flush & a bit of a bounce back, could indicate whomever,
may have completed the selling of their cheap shares, as part of
the deal with B——–. R !
Comment by Bert — February 3, 2012 @ 10:50 am
Wow, Armistice 3,079,350 shares traded,
Comment by Martin — February 3, 2012 @ 11:07 am
How many FD shares does az have, someone know?
Comment by Martin — February 3, 2012 @ 11:09 am
2.2m Canaccord cross, Martin
Comment by Andrew — February 3, 2012 @ 11:12 am
Ok, otherwise it make no sence!
Comment by Martin — February 3, 2012 @ 11:19 am
AZ is on Canaccord’s top 22 speculative stocks for 2012
Comment by Andrew — February 3, 2012 @ 11:29 am
I was looking at it last night, huge potential!
Comment by Martin — February 3, 2012 @ 11:34 am
Martin
If u are looking for the o/s AZ shares, it’s 183 million.
Comment by Bert — February 3, 2012 @ 11:34 am
Not positive, but I think Mineralfields/Joe Dwek are out of AZ now, otherwise I wouldn’t touch it. š Ed and John would know?
Comment by Andrew — February 3, 2012 @ 11:37 am
Thanks Bert,
Comment by Martin — February 3, 2012 @ 11:52 am
Again This week RBW will have a record weekly volume!
Comment by Martin — February 3, 2012 @ 11:56 am
We just need some news flow, Martin. Maybe financing will close early next week.
Comment by Andrew — February 3, 2012 @ 12:03 pm
In the last nr, they says it will be close thuesday or before Andrew,
Comment by Martin — February 3, 2012 @ 12:07 pm
SGC
Up .04 to .066, on a day when gold is down over $30.00, shows
that Sunridge is shining more than Gold… Bodes well for
next week.
Comment by Bert — February 3, 2012 @ 12:08 pm
One stock to watch imho, is OLV wich is a diamond play, Pierre Lassonde is hugely involve. If one of their kimberlite prove to be ecomomicly viable Mr. Lassonde say it is a 100 bagers!
From KWN
Comment by Martin — February 3, 2012 @ 12:12 pm
Martin – If one of their kimberlite prove to be ecomomicly viable Mr. Lassonde say it is a 100 bagers!
Bert – It’s all about IF… If you lived next door to me, you would be my
neighbour.. (joking)
Comment by Bert — February 3, 2012 @ 12:16 pm
lol, if you get the chance listen to the interview he gave on King World New Bert, worth it.
Comment by Martin — February 3, 2012 @ 12:19 pm
OLV – chart looks interesting, Martin – I think that’s an ascending triangle? I’ll look into it over the weekend, I could do with a 100 bagger! š
Comment by Andrew — February 3, 2012 @ 12:28 pm
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/12/24_Pierre_Lassonde.html
Comment by Martin — February 3, 2012 @ 12:32 pm
News out on VGN on a friday evening… Options granted at 0.12.
Comment by Bert — February 3, 2012 @ 1:42 pm
Isign(ISD) up 60% since BMR mentioned it a while back. Brovo Zulu.
I purchased Encanto Potash (EPO) yesterday @ 0.27. It was up 17% on quadruple volume.
Comment by Alexandre — February 3, 2012 @ 9:23 pm
iSign has done very well recently and patient investors could do extremely well with it. The Facebook IPO is certainly helping – the social media space is hot. We’ll have an updated chart on iSign by Monday morning.
Comment by Jon - BMR — February 4, 2012 @ 12:39 pm
Tony typically grants options before a move begins, so watch VGN closely.
Comment by Jon - BMR — February 4, 2012 @ 12:41 pm
Martin,
thanks for the link to the interview, Pierre seems very high on the success of OLV, definately one to keep an eye on.
thanks greg
Comment by GREG H — February 5, 2012 @ 5:08 pm