From Rouyn-Noranda, Quebec
Good day from frigid Rouyn-Noranda as we begin an eastern tour that will also take us to PDAC in Toronto…Gold has traded between $1,204 and $1,220 so far this morning on this final trading day of February…as of 8:45 am Pacific, bullion is up $8 an ounce at $1,217…Silver is 8 cents higher at $16.61…Copper is flat at $2.67…Crude Oil is up 92 cents at $49.09 while the U.S. Dollar Index is down slightly at 95.15…
Chinese and other Asian markets reopened earlier this week, following the week-long Lunar New Year break, and that has clearly brought some support into the Gold market as evident again today…trading volumes on the Shanghai Gold Exchange have been picking up and premiums have also been pushing higher…however, analysts at UBS noted that although demand is positive, it is “nothing exceptional”…
Recent data regarding China’s Gold imports from Hong Kong, 1 indicator of Chinese demand for the precious metal (though somewhat less reliable than it used to be), showed that shipments climbed to 71.8 metric tons in January from 58.8 tons in December…
Today’s Equity Markets
Asia
China’s Shanghai Composite and Japan’s Nikkei average each finished 12 points higher overnight…for the Nikkei, another new 15-year high…
Europe
European markets finished modestly higher today ahead of next week’s start of the ECB’s QE program…details of the scheme will be discussed at its planned meeting next week…
North America
The Dow is down 20 points as of 8:45 am Pacific…the TSX has gained 86 points, thanks to strength in Gold and Oil, while the Venture is 2 points higher at 703…key resistance at 707…
TSX Updated Chart
Interesting 6-year monthly chart for the TSX…the big “W” formation in the RSI(14) is a very bullish sign, and the next measured Fib. resistance is around 15800…new highs appear to be in the works for the TSX, and that also has to be considered bullish for the Venture…
North Arrow Minerals (NAR, TSX-V) Update
As recently as a week ago, we highlighted the fundamental and technical reasons behind a very bullish scenario for North Arrow Minerals (NAR, TSX-V) which has a dynamic team capable of pulling off another world class diamond discovery…
North Arrow was halted yesterday morning and released news later in the day regarding initial results from processing of its Qilalugaq Project bulk sample (1,500 tonnes)…importantly, the proportion of rare yellow diamonds increases, both by stone count and carat weight, as the diamonds move into the larger size classifications…this is what they were hoping for…
Initial diamond recovery data from approximately 46% of the sample have been compiled, and include 5,366 diamonds greater than plus-one DTC (about one mm) weighing 189.97 carats from 609 dry tonnes of kimberlite…this is looking good and the market is responding favorably this morning with NAR up 14 cents at 82 cents as of 8:45 am Pacific…
Technically, there were 3 key reasons for the bullish call on NAR:
1. The breakout above the downtrend line
2. The breakout above the horizontal channel and Fib. resistance at 55 cents
3. The reversal to the upside last month in the 50-day moving average (SMA)
Other important positive factors include the RSI(14) uptrend and the bullishness in the ADX indicator…
Given the technicals and the prospects for both the Qilalugaq Project and the Pikoo Project (a 3,000 m drill program started there earlier this month), NAR is poised for a potentially huge success in 2015…
Rouyn-Noranda’s Rich Mining History
What built Rouyn-Noranda, which rests on the edge of Lake Osisko and has a current population of just above 40,000, was the rich Horne Copper and Gold Mine, 1 of Canada’s greatest orebodies…it was discovered by mining legend Edmund Horne in 1920 (Noranda was born shortly thereafter)…
Horne persevered – he got disappointing initial assay results from his visits in 1914 and 1917 – and his theory that the deposits of northeastern Ontario extended into Abitibi was proven correct…the rest, as they say, is history…the Horne mine was the highest Gold grade VMS deposit of its size in the world…in its 50-year history from 1927 to 1976, it produced 11.6 million ounces of Gold and 2.5 billion pounds of Copper…
Today, the old Horne mine is being reborn…Falco Resources’ (FPC, TSX-V) Horne Project area in Rouyn-Noranda (acquired in 2012) encompasses the former producing Horne and Quemont mines, as well as the Horne 5 deposit which sits immediately below sits immediately below the former producing Horne Mine…earlier this month, Falco commenced an inaugural drill program (16,000 meters, nearly $4 million budget) on the Horne 5 Gold-Silver-Copper-Zinc deposit…the program is intended to confirm historical drill data, upgrade the size and confidence level of the current mineral resource estimate (2.8 million inferred ounces of AuEq grading 3.4 g/t) and provide material for metallurgical testing…drilling, which will consist of 9 holes and 9 wedge holes, is expected to be completed by September…
Falco has performed very well so far this year, up more than 50% for a market cap in excess of $60 million…it was trading briefly for less than 30 cents when Gold touched $1,130 in early November…
Gold Bullion Development Corp. (GBB, TSX-V)
We viewed Gold Bullion Development (GBB, TSX-V) as a tremendous speculative opportunity in late 2009 when it was trading just above a nickel, and then a discovery in early 2010 propelled the stock to an all-time high in the mid-90’s by later in the year…the junior resource bear market that started in 2011 did some serious damage to GBB’s share price which fell as low as 2.5 cents last year…interestingly, though, the company has battled through the hard times in the industry and has been able to advance Granada on many fronts, making it in our view the most undervalued opportunity on the prolific Cadillac Trend given the near-term open-pit production scenario and the total ounces in the ground…
Granada, just 5 km south of Rouyn-Noranda, has measured and indicated resources of nearly 1 million ounces @ >2 g/t Au…add in the inferred resources, plus the excellent potential to build major additional tonnage within the LONG Bars Zone going east, west and north, and it’s easy to understand why GBB has to be considered a potential takeover target…rumors are beginning to circulate regarding GBB, especially with the uptick in M&A activity in the sector over the last few months…Gold Bullion has a current market cap of just $13.9 million…
For the first time since 2011 we are returning to the Granada Gold Property for a close-up look as the project is now on the verge of production, just 5 years after the initial major discovery…25 of 26 permits have been received, and the high-grade Stage 1 production scenario (Stage 1 is 3 years) features robust economics as per the Preliminary Feasibility Study released last year…
GBB President and CEO Frank Basa at the Granada Gold Property (yes, frigid right now and plenty of snow but work is in progress).
BMR Interviews Frank Basa
“We’ve done it before and we’re going to do it again,” GBB President and CEO Frank Basa told us in reference to a renewed focus on building shareholder value given the advanced stage of the Granada Project and Gold Bullion’s current market cap of only $13.9 million…
Below is the first short excerpt (approximately 2 minutes) of our interview with Basa as he talks about the advantages of the Granada Project…
Audio Clip – Click On Arrow
[audio:https://bullmarketrun.com/wp-content/uploads/2015/02/GBB-Frank-Basa-Feb-27.mp3|titles=GBB Frank Basa Feb 27]GBB Updated Chart
This long-term monthly chart shows the GBB roller coaster ride that started in 2006…as always, the best time to jump on board is just before the climb up as in early 2006, late 2009, and again now in our view following the breakout above the long-term downtrend line and the recent “throwback” to that level which is typical at the beginning stages of a new primary uptrend…
Sell pressure is in decline and volume has increased over the last 2 months…GBB is currently in a horizontal channel, so another test of the top of that channel appears likely…a massive breakout would be triggered on a move above 8 cents…
Walker River Resources (WRR, TSX-V) Update
A few months ago Walker River Resources (WRR, TSX-V) acquired some strategic claims in northern Quebec, but it’s their Nevada asset that has us really excited about this opportunity going into March and over the longer term…
Walker has permits in hand and is gearing up to drill its Lapon Canyon Gold Property in Nevada where high-grade mineralization is being targeted in crosscutting shear structures…past underground activities on the property demonstrate its excellent potential to host high-grade vein-type mineralization…quite simply, Walker has some bulls-eye targets to go after in a system that has never been properly tested…this is a prime area for a discovery and we’ll outline why very shortly…a lot of geological thought has gone into this project…
Record volume and the recent breakout above the long-term downtrend line are two clear and typically highly accurate signals from a technical standpoint that something quite special (a “BLO“-type event) could be in the works here…below is an updated 2-year weekly chart…
WRR is unchanged at 4 cents as of 8:45 am Pacific…
Cannabix Technologies Inc. (BLO, CSE, BLOZF, OTC) Update
Quick technical update from John on Cannabix Technologies (BLO, CSE) which continues to consolidate in the low 50’s on the CSE…significantly, what has been developing is a bullish pennant as you can see on this U.S. chart below (this is based on the OTC listing and of course in U.S. dollars as Stockcharts.com does not yet include CSE listed companies)…
BLO is off 2 pennies at 52 cents on the CSE as of 8:45 am Pacific…
Note: John, Terry and Jon hold share positions in GBB. John and Jon also hold share positions in BLO and WRR.
I’m freezing in Atlanta, I can’t imagine what your feeling in Canada at GBB site. Basa doesn’t even have a hat, scarf, or gloves on. Is he a looney tune or what.
WRR – high grade discovery is right. This area of Nevada in Lyons County has produced (private miners and Kinross of coarse) much more than anything in the Carlin Trend. 54 oz./au ton just to WRR east. Looking forward to the breakout on this cause its coming.
Comment by dave — February 27, 2015 @ 9:15 am
NAR – I do expect it to correct down to around the .75 level, possibly fill that gap maybe. Again, the time to be in this one is before that evaluation comes out end of April or so.
Comment by dave — February 27, 2015 @ 9:24 am
Any thoughts why DBV didn’t wait to anounce the remaining 200m of H23 before the PP? You’d think if the results were good it would have helped with raising funds faster…or am I missing something?
Comment by Steve A. — February 27, 2015 @ 9:44 am
Dave – I’m freezing in Atlanta
Bert – There you go, i bet if stocks were flying today, Dave would
not be freezing. Anyway, no wonder some of us, are leery of
everything associated with the stock market. I can go on & on
but i will bring forward 2 stocks mentioned on this site, RBW
remember a darling of the big pockets from the Calgary Flames
& where did it get us, a roll back, left some folks with nothing.
Then there’s PGX, it was stated that they had the winning team,
it traded at around 0.50 for ever so long, today 0.11 & there’s
more…. What is there to feel good about ? I don’t have to
talk to folks to realize how they feel, all i have to do is go
back in time, remember the good folks, who posted often, all of
a sudden they have gone quiet, why ???
Comment by Bert — February 27, 2015 @ 9:47 am
ggi – 1pm eastern time. – ask building – bids shrinking – ughhhhhh.
Comment by dave — February 27, 2015 @ 9:59 am
If GGI pending assays are spectacular then I will predict a good close today in anticipation. Results on Monday.
Comment by Dan — February 27, 2015 @ 10:03 am
Steve, simple – DBV doesn’t have them yet, but they’re strong enough to complete their financing with or without them.
Comment by Jon - BMR — February 27, 2015 @ 10:03 am
Hi Bert- I think that I remember one time you mentioned that you live in Nova Scotia. If so, whats it like up there. I here its very pretty and a nice way of living.
Also, there are many stocks that have made tremendous runs this year already. BLO, NPH, JNX, PEA, ZNN, NAR, VGD, ALV, etc. I have been in all these stocks and more than once (sold and bought back), although I missed NPH last run up. There are stocks that are moving, but you have to search for them. I have posted most of these (some non-bmr picks) although maybe not to Jon’s liking. If your post #4 refers to me posting a lot on WRR, its because of the obviuos of which will happen soon. I would rather spend my time now commenting on the changing fundementals and TA rather than saying later that “I have been pounding my fist on the table back when”. Have a nice day.
Comment by dave — February 27, 2015 @ 10:21 am
correction – I was not in BLO.
Comment by dave — February 27, 2015 @ 10:22 am
keep an eye on ARY and NX. I own both. These are to trade for a quick profit, not hold long term.
Comment by dave — February 27, 2015 @ 10:38 am
jon
are you visiting any other Cadillac Trend companies or just GBB
Comment by ChartTrader — February 27, 2015 @ 10:42 am
Dan
More than likely the results will be Monday, but the NR did
state the week of March 2nd.
Comment by Bert — February 27, 2015 @ 10:43 am
I’m very curious to hear the rest of the interview with Mr. Basa…. 🙂
Comment by M. — February 27, 2015 @ 10:49 am
BAA looks to be breaking out on news
Comment by dave — February 27, 2015 @ 10:56 am
Jon, bids are building big on WRR.
Comment by dave — February 27, 2015 @ 11:06 am
I picked up 25,000 WRR shares today with a bid in for more.
Comment by Dan — February 27, 2015 @ 11:24 am
WRR with only 33 million shares out she could move fast!
Comment by Dan — February 27, 2015 @ 11:27 am
Dave – BAA looks to be breaking out on news
Bert – A sheep farm i imagine.
I live in Newfoundland, thank God we are surrounded by water.
I have also made money buying & selling, but as for complaining,
that could be my nature, especially since we are led to believe
something, which seldom happens. One positive thing though,
i help in keeping the post count up. I’m on the verge of making
$175.00 right now, i’m next up on the ask.. Squirrel for dinner
tomorrow…
Comment by Bert — February 27, 2015 @ 11:31 am
Can you tell us how the “rumor”, you’ve heard, sounds like?
// With Love from Sweden
Comment by Christopher — February 27, 2015 @ 11:36 am
When are they going to let GGI run?
Comment by Dan — February 27, 2015 @ 11:43 am
Christopher – Can you tell us how the “rumor”, you’ve heard, sounds like?
With Love from Sweden.
Bert – Don’t know who your question is directed at, but the rumor i heard
didn’t sound that clear. I think the person had nasal problems, like
air passing through his nostrils.
Love you too !!!
Comment by Bert — February 27, 2015 @ 11:55 am
WRR looking good today so far. Decent volume. Something could be coming?
Comment by Ed — February 27, 2015 @ 11:58 am
To Bert, its all good. Which stock are you making $175.00 on. – I got in BAA at .22, saw volume off the halt and jumped in. Glad the water is warm.
Comment by dave — February 27, 2015 @ 12:07 pm
GGI – .185 bout history. 3rd day in row with white candle it looks like.
GGI did a triple bottom and so did ARY. Trade the triple bottoms, you usually will go green.
Comment by dave — February 27, 2015 @ 12:09 pm
VGD – forgot to tell you Bert that I also entered this one last week again at .16 – 3rd time trading her. Bert, you can get more than squirrel for dinner.
Dan – Yes, WRR looking good here. I look forward to March.
Comment by dave — February 27, 2015 @ 12:13 pm
Just bought some GGI……now my second holding in the Sheslay Valley.
Comment by d4 — February 27, 2015 @ 12:14 pm
Dave
A stock i mentioned here several times. one which i have traded
in & out several times, that is PRG. If you like Eric Coffin,
you like PRG. I believe in the stock thus i only sell 5k at a
time if & when it moves, but my $175.00 keeps adding up.
Comment by Bert — February 27, 2015 @ 12:16 pm
Just sold BAA at .285. I don’t know the stock and have not done any dd on it. Just traded the momo today. $1,800. That should get me a steak.
Comment by dave — February 27, 2015 @ 12:22 pm
Bert
I do like mr. Coffin. I just looked at PRG. She looks like she wants to move after the .19 – I don’t know if I would be selling it right there.
Comment by dave — February 27, 2015 @ 12:24 pm
By the looks of it, could run Monday, Dan.
Comment by Jon - BMR — February 27, 2015 @ 12:30 pm
WRR – nice bids.
Jon, sorry for posting so much. Bert stirred me up when he said that he never makes any money. Then BAA came out with news and ran. I will go to my corner now and be a good little boy and just watch my holdings.
Comment by dave — February 27, 2015 @ 12:32 pm
Jon, would that be a chart telling you that, or you think the news will make it run?
Comment by Dan — February 27, 2015 @ 12:38 pm
Dan – I mentioned yesterday that WRR just went very bullish intermediate term, that was a suttle hint to get in. Glad your aboard.
Comment by dave — February 27, 2015 @ 12:48 pm
It has momentum, Dan, and I’m optimistic on both counts…and in general, I’m convinced about the bigger picture unfolding here for 2015.
Comment by Jon - BMR — February 27, 2015 @ 12:54 pm
Chart, TA, fundementals, and Geology info that convinces Jon. (and me).
Comment by dave — February 27, 2015 @ 1:07 pm
Dave – Bert stirred me up when he said that he never makes any money.
Bert – Did i state that, that’s unusual, because i am making a bit
all the time. Not too long ago, i stated that in this market, i am
satisfied with a hundred or so dollars, so there you go. As for PRG
i never look back, a profit is a profit. They are not drilling yet,
so the legs are only so strong. I would suggest it’s all talk now.
Comment by Bert — February 27, 2015 @ 1:15 pm
I talked to GGI investor relations–news out Tuesday it appears. Not only Rododero and Grizzly but also Red Lion.
Garibaldi Resources Website -> Projects -> Canada -> Red Lion
Comment by Carl — February 27, 2015 @ 2:07 pm
I don’t want to offend our us friends, but what a kangaroo court going on in Washington, I said a while back it’s going to be like 300 kids on a soccer field with one ball. Prominent Putin opponent just shot dead, wow! What’s next with this guy?? Ggi will start running Monday, good volume and this is just the start.
Comment by Tombc — February 27, 2015 @ 2:42 pm
Dave
I’ve been going to ask, are you the Dave from Alabama, with a banjo
on your knee. Anyway, when you stated you weren’t sure if you would
be selling PRG at 0.19, that was the sign i was waiting for &
immediately placed an order to sell another 5k at 0.20 & got filled…
Made something around $425.00 & have shares left. To celebrate tomorrow,
we have decided to have frogs now instead of squirrels. By the way, it
felt like the good old days for awhile.
Comment by Bert — February 27, 2015 @ 3:14 pm
What a coincidence, one of the most effective opponents of Putin gets gunned down at a strategic time…and Putin of course condemns it.
Comment by Jon - BMR — February 27, 2015 @ 3:15 pm
Carl – GGI – interesting. I have always heard that it is a violation of the exchange to even announce that news is coming, although many do. Jon, so much for Regotti being tight lipped.
Comment by dave — February 27, 2015 @ 3:28 pm
To Bert – sorry, you are right. I said no money and I should have said little money. My bad. Looks like you might get a nice steak dinner out of GGI.She is my only holding that is seeing red and I too am hoping for a bigger surge.
Comment by dave — February 27, 2015 @ 3:33 pm
Yes Jon it’s sad, I really feel for the people, I’m Ukrainian and this has to stop, both in Russia and Ukraine. This is nothing but a full blown mafia organization and Putin is the boss, he should be hunted down like sadamn was plain and simple.
Comment by Tombc — February 27, 2015 @ 4:46 pm
GGI – as expected given the Anon trades today, another 77,000 shares show up as “insider” sells on TMX daily site. Again, our interpretation is that this is actually paper moving from one fund to another, and this has bullish implications for next week because the pattern is intensifying with the price and volume moving up together (pressure on the buy side). We can only hope we see more of this Monday and next week overall – could be the precursor to the highest trading volumes we’ve seen to date with GGI, and concurrently a further acceleration in price. Confirmed breakout above .17 on the chart; just need good news and this could really motor.
02/27/2015 GGI 0 77,000 0.00 14,245.00 0 6 CAD
Comment by Jon - BMR — February 27, 2015 @ 5:22 pm
Dave -I also keep records & the short term for GGI is 9 bullish 0 bearish,
summary, which includes short, intermediate & long is 14 bullish & 6
bearish. Looking good !
Tombc – I can be considered a news addict & spend most of my time following,
in particular, world news. I have followed the Russia/Ukraine story & may
it be known, that i am on your side.
Dan – Good luck on WRR, i hold 30K, which is not a large position, considering
the price/share, but i am thankful.
Bert – I am glad you took a position in PRG, $425.00 is more than some make, working
6 days at minimum wage.
Comment by Bert — February 27, 2015 @ 5:37 pm
Thanks Dave, glad to be aboard the WRR train. Well, not a train yet but hoping for a nice run soon.
Comment by Dan — February 27, 2015 @ 7:46 pm
Game changer for ROF?
http://research.tdwaterhouse.ca/research/public/Markets/NewsArticle/100-058u0675-1
Media Advisory: Harper Government and Province of Ontario to Announce Investment to Promote Economic Opportunities for Northwestern Ontario First Nation Communities15 hours ago by Marketwire Canada
The Honourable Greg Rickford, Canada’s Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario (FedNor), and the Honourable Michael Gravelle, Ontario’s Minister of Northern Development and Mines, will be at the Prospectors and Developers of Canada (PDAC) convention in Toronto on Sunday, March 1, 2015, to announce government funding to strengthen the economy and create jobs. This announcement will be made in partnership with the First Nations of Webequie, Eabametoong, Neskantaga and Nibinamik.
Ministers Rickford and Gravelle will participate in a photo opportunity and will be available to answer questions from the media following the event.
Please join us:
Date: Sunday, March 1, 2015
Location: Metro Toronto Convention Centre
North Building – Room 104DC
255 Front Street West
Toronto, Ontario
Time: 1:30 p.m.
Media not registered to attend the PDAC convention are asked to report to the media table outside room 104D in the North Building at least 10 minutes prior to the start of the news conference.
FOR FURTHER INFORMATION PLEASE CONTACT: Alexandra Lemieux Press Secretary Office of the Honourable Greg Rickford 613-996-2007 [email protected]
Mike Feenstra Director of Communications Office of the Honourable Michael Gravelle 416-327-0655 [email protected]
Barclay Babcock Communications Officer FedNor 705-690-0957 or 1-877-333-6673 Ext 303
Julia Bennett MNDM Media Desk MNDM 416-314-6275 [email protected]
SOURCE: Government of Canada
Comment by Tony T — February 28, 2015 @ 3:21 am
I wanted to update 2 stocks here with my portfolio interest.
GGI – .18 is now support and with the strongest confluence number. Bullish, neutral, neutral.
WRR – yeah, she went very bullish, very bullish, bullish. Her last resistance is .06 and with a very small confluence number of (4).
I expect GGI to have a good week next week. WRR gets on thier site in Nevada in March. Stay tuned.
Comment by dave — February 28, 2015 @ 6:10 am
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Comment by andrew mohs — January 19, 2016 @ 6:37 am