Gold has traded between $1,176 and $1,188 so far today…as of 7:00 am Pacific, bullion is off $6 an ounce at $1,180…Silver has fallen 30 cents to $15.87…Copper has added 3 pennies to $2.59…Crude Oil has slipped 60 cents to $59.78 while the U.S. Dollar Index has surged more than a full point to 95.47…
Last week, Gold buyers were once again overwhelmed by short sellers as Gold speculative net length dropped for the 4th consecutive week, according to the latest data from the Commodity Futures Trade Commission…
“You’ve got a patient who’s dying of cancer and we basically just fluffed his pillow,” commented one analyst this morning on the situation with Greece where there are signs of progress as negotiations continue…this morning, the ECB raised the limit on emergency funding to Greece for a 3rd consecutive day after reviewing a proposal from Greek leaders…this arrangement offers nearly 8 billion euros in fiscal concessions in order to close a funding gap…most of that would come from tax increases on the wealthy and businesses, rather than from spending cuts…
Today’s Equity Markets
Asia
A wild ride overnight for China’s Shanghai Composite…early in the session, the index shaved off as much as 214 points to hit its lowest level since May 29 following release of the flash HSBC/Markit Purchasing Managers’ Index for June…the flash PMI rose to 49.6, slightly exceeding most analysts’ expectations, but it still remained in contraction territory…the Shanghai recovered and finished the day up 97 points or 2.2% at 4572…
Below is an interesting 15-year weekly chart comparing the Shanghai with the price of Gold…since mid-2009, the two have generally had an inverse relationship as opposed to a close correlation during the previous 3-and-a-half years (why, exactly, who knows)…
Gold bulls can take some comfort in the fact that despite the massive move in Chinese equities since late 2014, which has drawn some interest away from precious metals, and the surge in the U.S. dollar from last summer to the spring of this year, bullion has managed to hold its ground near $1,200 an ounce…
CRB Index Updated Chart
There’s a strong correlation between the CRB Index and the Venture, and there’s also compelling technical evidence that the CRB hit an important bottom early this year at 206 given extreme oversold RSI(14) conditions that emerged on this 10-year monthly chart…in addition, the -DI indicator appears to have peaked, has formed a bearish “M” and is now moving lower…
Note the large gap between the CRB’s current level (223) and its long-term downtrend line…a rally to the top of that trend line over the next 12 months is certainly a very good possibility…given historical patterns and its current technical posture in this “Big Picture” chart, the CRB’s upside potential through the balance of this year appears to outweigh its downside risk…market tops and bottoms only occur when there is overwhelming bullishness or bearishness, and we’ve seen extreme levels of bearishness with regard to commodities during the first half of 2015…
Europe
European markets are generally up strongly in late trading overseas as hopes rise that the Greek crisis will sort itself out…
“I think there is a tremendous misunderstanding of the Greek situation in the financial market and people are pretending or acting that it is much more important than it is,” commented Jeffrey Christian, director for CPM Group, a New York-based commodities research firm. “At some point it will be resolved and it will be resolved in a mutually dissatisfactory way, that is the way debt restructuring talks work out,” he explained.
Flash data released this morning morning showed that the composite PMI for the euro zone in June rose to 54.1, up from 53.6 in May – a 49-month high for the index by Markit that surveys activity in the region’s services and manufacturing industries…
North America
The Dow has added 53 points after the first 30 minutes of trading today…a gauge of U.S. business investment spending plans rebounded in May, offering a tentative sign of stabilization in the manufacturing sector after activity weakened sharply early this year…
In Toronto, the TSX has jumped 112 points while the Venture is off 1 point at 681 as of 7:00 am Pacific…
Security Devices International Inc. (SDZ, TSX-V)
An interesting non-resource play worthy of our readers’ due diligence – Security Devices International (SDZ, TSX-V) which closed a $2.5 million (U.S.) financing yesterday…SDZ is a defense technology company specializing in the development, manufacturing and sale of innovative, next generation less-lethal ammunition serving the corrections, law enforcement and military sectors…
President and CEO Gregory Sullivan stated in a news release yesterday, “The significance of this financing, being to a sole investment entity, demonstrates their belief in SDI‘s products and validates our business model as we move forward with continued market penetration. This financing will assist SDI in moving into the next stage of our growth and expansion phase. We look to increase our global customer base, giving military, law enforcement and correctional service agencies worldwide the ability to seek alternatives to violent encounters.”
Technically, SDZ has been under strong accumulation since last summer and has been following an uptrend line since the beginning of the year…a push through the 50-cent level would be bullish…a close below the uptrend line would be bearish…strong support (Fib. and the rising 200-day SMA) in the mid-30‘s…
Tribute Pharmaceuticals Canada Inc. (TRX, TSX-V) Update
John’s last chart update on Tribute Pharmaceuticals (TRX, TSX-V) was June 4 when it was trading around $1.30 after a powerful breakout from a pennant formation and a bullish “W” in the RSI(14) which is now well into overbought territory at 86%…
TRX climbed as high as $2.28 yesterday on total volume (all exchanges) of more than 2 million shares…it has risen for 9 straight sessions and overshot Fib. resistance at $2.09…be careful here…this is not a time to chase TRX but to lock in profits if you jumped in around John’s breakout point…
TRX is off 14 cents at $2.08 as of 7:00 am Pacific…
New Gold Inc. (NGD, TSX) Update
Massive short position in New Gold (NGD, TSX) which continues to traverse in a downsloping channel with Fib. support at $3.35 followed by chart support at $2.50…at some point this will likely recover strongly, but a “capitulation” moment has not occurred here yet…
NGD is off 3 cents at $3.63 as of 7:00 am Pacific…
Integra Gold (ICG, TSX-V) Introduces The Gold Rush Challenge
$1 Million Up For Grabs
Integra Gold (ICG, TSX-V) has taken a page out of Goldcorp’s (G, TSX) playbook from 15 years ago and has introduced “The Gold Rush Challenge” which will award a total of $1 million CDN (in various categories) for individuals who come up with the highest probability locations (voted by the company and the competition’s board of advisers) for a major new Gold discovery at the company’s past producing Sigma/Lamaque mines in northwest Quebec, immediately adjacent to its Lamaque South Project…Integra has already made significant headway in raising the award money through sponsorships and plans to announce the winners next March in Toronto at PDAC…
Integra is in the process of verifying and digitizing additional information for Sigma/Lamaque which it expects to release to contestants in September via a special web site…Integra says that to its knowledge, no mining company has ever released such a large amount of proprietary information to the public before…as highlighted in a news release last week, the company believes there is a wealth of potential Gold exploration targets that are expected to be generated as a result of this unprecedented digital database that spans more than 75 years of history…
Online prospectors will need to analyze and interpret the data to come up with a plan on where they think Integra has the best chance of making a major discovery…further details on what specific types of submissions the company is looking for will be announced prior to the database being made public in September…
In October last year, Integra completed the acquisition of the Sigma/Lamaque mine and mill complex and in doing so became the owner of 6 terabytes of historical mining and exploration data in a digital format…the company has spent the last 6 months compiling this information which, once completed, will be released to the public in one consolidated database…the data dates back to 1933 and includes over 30,000 historic drill holes, more than 50,000 Gold assays, hundreds of km of mined underground workings, other mining statistics and photos…
Integra’s “Gold Rush Challenge” is inspired by the famous “Goldcorp Challenge”…in 2000, Goldcorp’s then-chief executive Rob McEwen released all the company’s geological data for the Red Lake Gold mine online, and invited the public to provide advice on drilling targets…ultimately, the advice helped Goldcorp make some key discoveries at Red Lake, which is still thriving today…the prize money paid out was slightly more than $500,000, a bargain compared to what Goldcorp got…
Meanwhile, earlier this month, Abitibi Royalties (RZZ, TSX) launched an online platform called the “Abitibi Royalties Search”…the web site invites cash-poor junior mining companies to submit data on their projects…if Abitibi likes what it sees, it will cover the cost of the claim fees and taxes on the project, which may be unaffordable for the struggling miners…in return, Abitibi receives a permanent royalty…
Turning Visible Gold Into Invisible Gold
Visible Gold Mines‘ (VGD, TSX-V) President and CEO Martin Dallaire has provided a glowing example of why investors have lost so much faith in the junior resource market…below is a sentence from the company’s news release yesterday which tried to explain how 20 drill holes failed to come up with a single economic intersection from the area of the much-hyped highly mineralized Gold boulders discovered along provincial road 67 (VGD‘s Extension 67 Property) in northern Quebec…
“As Visible Gold Mines cannot guarantee the origin of some of the boulders collected on the 167 property and in order to avoid any potential contamination of samples collected to date, caused by the significant work done during the construction of the new 167 provincial road or caused by any other source, the prospecting team will focus on prospection and exploration of outcrops and boulders located farther away from areas which may have been contaminated. Visible Gold Mines believes that the outcrop sampling method will provide more accuracy on the origin of the samples, which is not the case with boulders that can come from different sources, even sources external to the property.”
The origin of those boulders – yes, that’s a good question…
VGD President and CEO at PDAC – where exactly did these highly mineralized boulders come from?
In about a year, VGD‘s stock price went from a low of 1.5 cents to a high of 26.5 cents on “rusty” boulders which even drew in Rob McEwen and Ned Goodman as major new investors of VGD…
We wonder how excited they are today…
Note: John, Terry and Jon do not hold share positions in SDZ, TRX, NGD, ICG or VGD.
do you think the GGI selloff is about over?
Comment by STEVEN1 — June 23, 2015 @ 6:25 am
Looking forward to watching the upcoming BMR interview with Dr. Razique. I received an email subscription from DBV with a link to BMR’s recent “challenge” from Jon. Farshad stated in the link that he “always loves a challenge”. Like BMR stated, less talk, more action…I have total faith in Farshad, hopefully he has the winning combination to unlock the potential at the (Golden) Hat. Lots of investors have been waiting patiently now – time to show us the goods. Good luck to all.
Comment by Steve A. — June 23, 2015 @ 6:27 am
Interview at noon, Steve. Would love to hear from any readers in terms of questions for Dr. Razique re: the Hat specifically but the district in general as well. We have a host of our own but reader/investor input is always appreciated.
Comment by Jon - BMR — June 23, 2015 @ 6:45 am
Jon ask what he thinks of the C anomaly is still the strongest anomaly has never been drilled under 225 meters
Comment by guy delisle — June 23, 2015 @ 7:04 am
I have a question for Steve Regoci. When is GGI going to stop promising news flow? I don’t care how many FT shares there were. It is plain wrong to hold news if there is any, especially with the share price dropping like it is.
Comment by Dan — June 23, 2015 @ 7:08 am
GGI-I can’t help but think there must something negative to cause the sp erosion. Maybe talks are not going so well with the natives?
Comment by Dan — June 23, 2015 @ 7:18 am
JON, yes you have 3 stories that are doing well, but 3 is not a lot. I am in agreement in your explanation on GGI and it is nice to hear you say that they have to show their cards. As you know, I trade more off TA than I do fundementals. I anxiously await something from them . I think it would be difficult to see a 10 bagger unless it were over the coarse of a year, but hey who knows. Those crystal balls with the Genie in them don’t exist. I patiently watch GGI for an entry IF the news is good.
Comment by dave — June 23, 2015 @ 7:22 am
Dan, to this point it has everything to do with fund selling, completely unrelated to fundamentals.
Comment by Jon - BMR — June 23, 2015 @ 7:36 am
Jon – please ask about Area E as I believe is has a higher surface gold content , correct me if I’m wrong. Thanks.
Comment by Les — June 23, 2015 @ 7:51 am
Due to the fact that no news has been forthcoming on GGI, how can we be sure that is true Jon. Maybe drill results in Mexico have come up blank and the ore shipped to the mine has been processed and found to be uneconomical to process. We just don’t know what is happening, so the market will not support the SP. If this is allowed to continue then maybe it won’t bounce up as expected when good news is released. Regoci will have lost the confidence of investors who have been kept in the dark.
Comment by Tom UK — June 23, 2015 @ 7:59 am
GGI. I would like to argue that fundamentals have changed. First off, no one is investing in gold and silver like they use too. Secondly, management has sat on the grisly for years with minimal work performed, why the rush now to start? Third, I doubt they are holding a royal straight flush in their hands while a fund sells the $&@- out of their company. If anything, they should have been defending the share price but have been unable to because they have nothing to report. Lastly, I wouldn’t underestimate the potential negative effects of native involvement. I am sure a lot of people were scared off by that. I’m sure someone can highlight some positives but it seems like the market is focusing on the negative, which are huge issues to overcome.
Comment by Seamus — June 23, 2015 @ 8:07 am
Please press GGI to get to work on the Grizzly this summer. All the shareholders are waiting!
Comment by James — June 23, 2015 @ 8:10 am
When you see Regico ask him if we are still in a period of accelerated news flow and how we can tell.
Comment by Ivan Borzinsky — June 23, 2015 @ 9:40 am
Guys, I’m long on GGI and haven’t been on the board for a bit. End of the day, it’s a penny …we are rolling the dice on the region. it’s our 6/49..if you think it is anything more you shouldn’t be trading.
Comment by Alex — June 23, 2015 @ 10:14 am
If your in Regoci’s office make sure he is changing the calendar maybe he still thinks it’s April with many more months to go before winter.
Comment by Ivan Borzinsky — June 23, 2015 @ 10:28 am
Alex, are you saying that you are happy not to know what is going on in a company that you have invested in? What do you mean it’s a penny? If you mean penny stock then have a look at the price history, about a year ago it was 30c. We are not trading, we are investing and want to know what is going on with the projects of GGI.
Comment by Tom UK — June 23, 2015 @ 11:09 am
Ask him what his salary is or do you know?
Comment by Seamus — June 23, 2015 @ 11:23 am
Nevermind about the salary, found it. So at $144,000 per year Steve is getting paid, I would ask first if he is truly aligned with shareholders interests and also if that total is excessive. Thanks
Comment by Seamus — June 23, 2015 @ 11:37 am
Like I have been saying for a while now (GGI) a stock does not trade like GGI has been trading if there are majors looking at the property in Mexico…I should have got out back then when my better judgement told me there was something wrong… I think Regoci is just trying to save the cash now so they can pay themselves, I hope I eat these words but all you have to do is look a what is happening with the share price and who is selling…. another RBW it appears to me….
Comment by Greg — June 23, 2015 @ 11:42 am
Jon , another question for Dr.Razeque please. How deep do they intend on drilling these next holes as hole 23 is the deepest so far at about 650 m ? What are the expectations for the depth of the different areas A to E.?
Comment by Les — June 23, 2015 @ 11:58 am
check out IMP.T – wow
Comment by dave — June 23, 2015 @ 12:19 pm
WRR – I should have bought more shares at .02, I only have a small position in that one. Oh well, money is money
Comment by dave — June 23, 2015 @ 12:23 pm
Jon. How did the interview go with Regoci? Anything to share?
Comment by Dan — June 23, 2015 @ 1:28 pm
Farshad is flying up to the property tonight let’s hope the drill is getting set to turn
Comment by anon — June 23, 2015 @ 2:01 pm
Regoci needs to take a page out of Farshad’s book. Get the drill on a chopper and get it to central grizzly. Got a hand it to Farshad. He found the money and drilled in the toughest months of the year, winter. GGI has had money since late 2014 and can’t even get a drill near their property. Unbelievable.
Comment by Dan — June 23, 2015 @ 2:35 pm
Do I sound negative on GGI? That is because I am and just like you last night Jon, am a little irritated at Regoci and his geological team.
Comment by Dan — June 23, 2015 @ 2:42 pm
It’s understandable Dan and I am looking forward to an update from BMR as to what was said in the meeting today. That’s assuming they are at liberty to divulge to us what Regoci said. I’m sure Jon passed on what has been said here by many of us and hopefully GGI will release some news soon and get going at the Grizzly.
Comment by Tom UK — June 23, 2015 @ 3:09 pm
Tom, I certainly hope he divulges information on GGI. That is what we have been waiting for. Jon I hope your news flow is a little faster than GGI’s. LOL.
Comment by Dan — June 23, 2015 @ 3:51 pm
What concerns me at this point is that after reading the Tahltan news “Our people have been clear that mining in the Sheslay will not be tolerated” that activity could slow to a crawl. Now I know a lot of this is just political posturing but it could take a while to play out. That’s what I suspect is happening but I would love to be wrong. I definitely understand the frustration on the board.
Comment by Danny — June 23, 2015 @ 4:08 pm
Dan, I’ll have more to report tomorrow. Our time with Dr. Razique went 2 hours beyond its original slot and afterward, Regoci was tied up again with his Grizzly geo’s. So we were able to speak just briefly but we’ve scheduled to meet tomorrow. I saw action today at the DBV and GGI headquarters, so that was encouraging.
Danny- you have to understand the politics, the money and the power game that is going on right now in the Sheslay district, re: the Tahltan. The stakes are huge and that’s what makes this now more intriguing than ever. There’s definitely urgency, which is positive.
Comment by Jon - BMR — June 23, 2015 @ 4:19 pm
Guys, I hate to “rain on your parade” but I’ve been following this forum for several months now. It seems that there’s no stop chatter about GGI, DBV and GBB yet all three are trading at or close to 52 week lows.
This reminds me of RBW and CUI who were also covered non stop when BMR was following them.
As usual there’s a reason why these stocks are trading at these low levels. Remember when things look to good to be true, they usually aren’t.
Just my 2 cents worth as an observer don’t own GGI, DBV nor GBB but have a truckload of WRR!!
Comment by Jeff — June 23, 2015 @ 4:53 pm
Looking forward to your update Jon. Is the urgency met with excitement or fear?
Comment by Dan — June 23, 2015 @ 5:06 pm
Sounds like Regoci is putting off meeting with you Jon…. maybe he’s afraid of what you have to say? As up to this point he has only been reading good things about himself and his company, hopefully he has been reading this board the last few days….
Comment by Greg — June 23, 2015 @ 5:21 pm
Jon
You have said this before to me too: Danny – you have to understand the politics, the money and the power game that is going on right now in the Sheslay district, re: the Tahltan. The stakes are huge and that’s what makes this now more intriguing than ever.
Unfortunately the share price does not reflect that at all, regardless of the FT funds selling, makes no sense at all…
Comment by Greg — June 23, 2015 @ 5:24 pm
Greg, the market doesn’t always make sense. Remember back to BLO. Did it make sense it was sold down to a nickel? Absolutely not, PP stock purchased at a nickel was being dumped into the market and took the stock price down to a nickel, and the investors rode the warrants. Most people thought something was wrong with BLO when it was trading under a dime. We kept insisting otherwise. Four months later the stock ran from .16 to .75 in a matter of days. Now it’s back to .165. Does that make sense? Fund selling and FT selling took Prosper all the way down to 6 cents in late October – the first week of December it runs back to .20. Now it’s in the mid-teens. There are countless examples of things that don’t make a lot of sense in these volatile markets where liquidity for the juniors isn’t what it used to be.
With GGI, there’s one reason and one reason only it’s at .07 – on the one hand, fund selling that has nothing absolutely to do with the company fundamentals, and on the other, FT selling that started in late April when that paper came free trading.
The GGI market has had to absorb a ton of paper recently, and most of that has now been soaked up. So understand that for what it is. Keep in mind as well that for every seller, there’s a buyer on the other end. And while I won’t leave GGI off the hook for anything and will press them hard to ensure they pull through for each of us investors, I do appreciate their strategy of being quiet recently while this paper is getting cleaned up. Why waste bullets to help a fund blow off stock? Does that make sense? You may not realize it, but Regoci is doing a lot of loyal shareholders a big favor and I know one that threw in a bid for 400,000 today.
ALSO…if you don’t think there are big stakes involved in what’s going on now in the Sheslay district, based on just what you’re observing in the market at this moment in time, fine…watch what unfolds very shortly. Money is made when you are ahead of the market, not behind it. I spent 3 hours with Razique this afternoon, what an education that was.
Comment by Jon - BMR — June 23, 2015 @ 6:06 pm
Jon
as you can tell I’m frustrated I would at least think that Regoci could at a minimum put out a letter to the shareholders on their website with some kind of update , specially since the last thing he said was there would be a better news flow, it’s been months
Looking forward to hearing about your meeting with the Doc today too
Thanks
Comment by Greg — June 23, 2015 @ 7:04 pm
Greg, I understand, and it’s never fun to see a stock go down, no matter what the circumstances. I’m sure we’ll hear from them very soon, and I will certainly deliver the message that our readers would like to hear something – quickly.
Comment by Jon - BMR — June 23, 2015 @ 7:16 pm
Joh I may be to late for the interview question but if you are speaking with Dr.Razique I have the following.
The interesting questions for geologist are probably:
What is the type of host rock, alteration and mineralization controlling the Cu-Au grades? How big is the alteration?
Simple questions but great for us to understand of the relationship
Many thanks
Comment by Eddie — June 23, 2015 @ 7:41 pm
Jon- your hard work- interviews- responding to ?’s etc. etc. is much appreciated!! Thank-you!!
Comment by Greg J. — June 23, 2015 @ 8:15 pm
You’re welcome, Greg. Keep the faith…while there are never any guarantees in the exploration biz, the fact is that 23 holes have been drilled at the Hat; each round of drilling is getting better, and a model is in place, the alteration patterns, the controls on mineralization, the geometry are all very well understood now. That increases the odds of the next few holes taking the Hat to a whole new level and really lighting up the entire area, and there are targets with similar signatures across the Grizzly. If these companies play their cards right, and also get a little bit of luck which one always needs, there could be fortunes made on the district this summer. That potential clearly exists. And that’s also why the Tahltan made a pre-emptive strike, right after Hat-23 and just before Hole 24, and before Grizzly Hole 1.
Comment by Jon - BMR — June 23, 2015 @ 8:49 pm
I’m disappointed that you failed to meet Regoci again. We need to know what is going on with all the GGI projects. If this is how Regoci treats shareholders I feel like selling if the SP manages to get back to my average purchase price. A broken promise of accelerated news flow equals an even faster acceleration of a lack of confidence and trust in management.
Comment by Tom UK — June 24, 2015 @ 12:53 am
Tom, you’re disappointed in me? I’m sorry. My day started yesterday at 2:30 am. After completing our morning report, which is a several hour process, we had to conduct a major interview that went into overtime and took 5 hours in total from set-up to finish. I was able to speak with Regoci briefly but because the interview went longer than anticipated, my scheduled meeting with him had to be changed to today as he had to leave his office for an important meeting with one of his geologists.
We appreciate the fact you’re a reader, Tom – we value all of our readers and their input here. We’re working extremely hard, and that interview yesterday was serving you (for free, I might add)…even though you may not appreciate it this morning. Be patient, my friend, because God rewards those who are patient and understanding. In defence of GGI (and DBV), they’ve both had unexpected circumstances to deal with, and that can always have an impact on timing of news. I’m sure we’ll be hearing from both shortly and we’ll all feel a whole lot better. In my heart and in my head, I’m convinced we’re going to get an incredible blessing out of the Sheslay district. Then for GGI, there’s also Mexico.
Comment by Jon - BMR — June 24, 2015 @ 4:44 am
You have misunderstood my meaning Jon, please don’t take the comment personally. I’m anticipating that when you meet Regoci you will be able to report back to us what is happening. At the moment it feels as though you are our only chance of finding out what is going on, so when events take a turn and the meeting does not take place, I am disappointed.
Can you elaborate on the ”unexpected circumstances” that is causing their silence? I know about the Tahltan but how does this affect the possible news flow from Mexico?
Thanks for all your efforts it is appreciated.
Comment by Tom UK — June 24, 2015 @ 4:58 am
I stopped posting on BMR but will make an exception for this one time because this is ridiculous.
People need to stop whining and complaining……trust your DD or move on! I have always said that DD is key. Relying solely on BMR’s DD is lazy and doesn’t constitute as DD imo but its a good start. Everyone here has a phone and intjernet so make the call and let management know your concerns. Its your hard earned money on the line so take initiative and stop relying on others to voice your concerns and issues.
BMR works hard and provides their info free of charge even though they incur many expenses for the website, visits, etc.
I look forward to being proven right about DBV.
Comment by d4 — June 24, 2015 @ 5:30 am
No problem, Tom…it should be obvious to all that the Sheslay “situation” – the “breakout” on the ground, as I would call it, plus the Tahltan dynamics, have consumed extraordinary time and resources for both companies…when I say “breakout” on the ground, I mean there is now a major new understanding of the Hat model and the Grizzly as well…the market is behind the curve on this but it will catch up soon enough…our interview with Razique will shed light on all of this…in the case of GGI, they’ve been dealing of course with 2 other properties in Mexico plus other properties in B.C. besides the Grizzly, in addition to the unexpected developments regarding Sprott plus the flow-through paper of course…so all of those factors, when taken into consideration, explain the lack of news flow IMHO…oddly, GGI’s share price has dropped but things couldn’t look better in terms of their prospects on the ground…the share price drop has been almost entirely a fund-driven event that importantly has nothing to do with the fundamentals of the company…
Comment by Jon - BMR — June 24, 2015 @ 5:32 am
d4 I have sent e-mails to GGI and had no response. I will await BMR’s feedback from the meeting before I pick up the phone – I am UK based so there is an 8 hour time difference. DD is good d4, but the best info is always from the horses mouth, which has been quiet for too long in the case of GGI, IMO. DD is proven to be right or wrong when actual results are reported by the company.
Thanks for the response Jon.
Comment by Tom UK — June 24, 2015 @ 5:57 am
Jon
Can you explain what un expected developments were with Sprott? Are you talking about them selling a bunch of shares? And why?
Thanks
Comment by Gregh — June 24, 2015 @ 6:07 am
why don’t they just cross the stock out and get it over with this fund…..
Comment by STEVEN1 — June 24, 2015 @ 6:15 am
Greg, Sprott’s holdings in GGI have decreased significantly and that selling has had nothing to with GGI itself – they took the decision, after Eric Sprott’s “retirement” – to overhaul their fund strategies and decided to liquidate holdings across the board on the resource side to diversify into other areas, so this has impacted GGI as well as many other companies just recently. Sprott’s 20% position in GGI is likely now down to about 5% – so the market has had to absorb not only the FT paper, but this additional paper from the Sprott funds. Again, this has nothing to do with GGI specifically, it’s part of a much broader portfolio adjustment to accommodate a new investment direction. Some good companies got hurt like this last year from Pinetree, but bounced back quickly after the selling was completed. Steven, you bring up a good point and I think a significant cross is possible for remaining Sprott holdings. The “flushing out” on this combined with the FT selling, which appears largely complete, is the reason for the unusual share price. But this has created what could be an extraordinary opportunity given how events are unfolding in the Sheslay district, plus the prospects for Mexico.
Comment by Jon - BMR — June 24, 2015 @ 6:21 am
i said the other day about having all their ducks in a row,heres what i meant,mexico it appears they have agreements with the locals in hand,now they need to have the same in bc,its simple,if i were the ceo i wouldnt want issues poping up on me down the road,once these are all in place,ggi will feel confident about releasing a ton of news and results.does this make sence.want to thank jon and the bmr crew for their hard work,this cant be easy,just hang in their folks,to much potential here to let your frustations take over,plus its a positive sign that jon has a meeting with regoci,keep up the great work guys…
Comment by tombc — June 24, 2015 @ 7:00 am
GGI – removed my bid at .05 – If the indian tribe aggreement doesn’t come to pass, DBV and GGI drop like a rock. I will patiently wait to see the developements, sorry can’t spell this morning- ugh
Comment by dave — June 24, 2015 @ 7:48 am
Don’t look now, but the loonie, gold, and silver all started another downtrend. Talks still surfacing that the U.S. can go bankrupt. Its the end of the world.
Comment by dave — June 24, 2015 @ 8:05 am
Dave – my sources say Farshad and the drill crew from the The Tahltan are on site now at the a Hat . Most likely with a verbal agreement as this project is too important for everyone including the First Nations. GGI and DBV news should be forth coming.
Comment by Les — June 24, 2015 @ 8:11 am
Dbv drilling will start today
Comment by anon — June 24, 2015 @ 8:28 am
Mobilization, Anon, but not actual drilling just yet…
Comment by Jon - BMR — June 24, 2015 @ 8:34 am
Dbv drill already there don’t take long to set up and start drilling
Will see news either tomorrow or Monday
Let the action begin
Comment by anon — June 24, 2015 @ 8:38 am
We know the drill is there, we actually reported that a while ago from sources in the area…and reports are they are mobilizing…mobilization to drilling can take several days in this area, been there…with any luck the rods could be spinning on Monday…and yes, let the action begin…
Comment by Jon - BMR — June 24, 2015 @ 8:47 am
Hi Jon, do you anticipate that DBV will do a joint news release; with both H23 results and the announcement of the new drill program? Thanks!
Comment by Steve A. — June 24, 2015 @ 9:09 am
Jon it don’t take 5 days to set up a drill that is already to go
At least DBV is rolling
GGI won’t be drilling till Aug sometime as they are not ready that’s the sad part
Comment by anon — June 24, 2015 @ 9:36 am
GGI not drilling yet does not worry me. My guess is that they have allocated around $1mil in 2015 to drill the Grizzly and see what comes out of the ground. More importantly IMO is what is happening with the rock from La Patilla and the LOI regarding it’s milling. If that is successful and can generate cash, then more drilling can be done at the Grizzly next year with no dilution to current stock. This I feel is where GGI sets itself apart from other junior exploration companies. Whether they drill now or in 2 months time, the results will be the same and GGI will have done what it intended during 2015. My impression is that DBV and GGI will work together on this rather than the relationship they have will Prosper.
Comment by Tom UK — June 24, 2015 @ 9:55 am