Gold has traded between $1,111 and $1,128 so far today…as of 9:30 am Pacific, bullion is down $12 an ounce at $1,116…the metal closed August at $1,134, so this is shaping up to be an unusual September as this is typically Gold’s strongest month of the year…Silver is off 13 cents at $14.50…Copper has rallied to $2.35 as it pushes off key support…Crude Oil is flat at $45.31 while the U.S. Dollar Index has added one-third of a point to 96.29…
Despite today’s advances, U.S. and global equities are headed for their worst quarterly showing since 2011, with investors rattled by China’s economic slowdown, uncertainty over Federal Reserve policy and growing pessimism about corporate earnings…
HSBC says it expects a recovery in the euro against the U.S. dollar, which in turn should support the bank’s “moderately positive longer-term Gold view”…
Chinese purchases of Gold for its reserves continue, although the decline in the country’s overall foreign-exchange reserves could limit future buying, according to Commerzbank…the People’s Bank of China reported that it upped its Gold holdings in August by 520,000 ounces to 54.45 million, or an increase of 16.2 tonnes…while slightly less than July’s figure of 19 tonnes, it’s still a greater pace of accumulation for China than the 604 tonnes added between 2009 and 2015 as announced in June. “Monthly reporting of Gold purchases should contribute to greater transparency and make it easier to track the actions of the Chinese central bank,” Commerzbank says. “Given the size of Chinese currency reserves and the extent of its domestic Gold production, even higher Gold purchases might have been assumed. That said, the decrease in currency reserves may have put the brakes on buying interest of late – in August, currency reserves declined to a 2-year low of $3.56 trillion.”
Meanwhile, investors have withdrawn a record amount of Gold from the Shanghai Gold Exchange this year, adding to signs that demand in China is recovering after a stock market rout and a shock devaluation of the yuan…withdrawals jumped 37% to 1,891.9 metric tons through September 18 from 1,380.9 tons a year earlier, according to data on the bourse website…trading increased 150% in the first 8 months, said Liu Liang, a spokesman for the exchange, the world’s largest spot bullion market…
In Today’s Morning Musings…
Updates on Equitas Resources (EQT, TSX-V), Pure Energy (PE, TSX-V) and Sernova Corp. (SVA, TSX-V), a look at long-term charts for the Dow and TSX for clues regarding what may unfold in Q4, and, believe it or not, statistics showing Chinese consumers are upbeat (fortunately, only a small percentage of them have exposure to that country’s volatile stock market)…
Russia Strikes In Syria
U.S. President Barack Obama’s biggest foreign policy blunder may cause him endless headaches through the balance of his Presidency…Russian President Vladimir Putin, who also aggressively keeps building up his country’s Gold reserves, inserted his country directly into Syria’s civil war today as Russian forces launched their first airstrikes against targets in the Middle Eastern nation…Russia has built up forces on the ground in Syria in an effort to support Syrian President Bashar al-Assad…the strikes mark the start of a new phase of the conflict, and who knows how this may unfold…unfortunately, Obama has allowed a very dangerous Putin to fill a vacuum of leadership on the international stage…
Oil Update
U.S. Crude Oil stockpiles rose 4.6 million barrels in the week to Sept. 25, the American Petroleum Institute (API) reported this morning, well above a modest increase of 102,000 barrels that analysts polled by Reuters had forecast…official weekly inventory figures from the U.S. government’s Energy Information Administration (EIA) are due later today…
Moody’s Investors Service says it expects more U.S. Oil companies to default on risky corporate debt over the next few months as banks tighten lending standards and as contracts that locked-in higher Crude prices for future production start to expire…Oil producers in the 2nd quarter accounted for 7 of the nation’s 15 high-yield debt defaults, a 3-year quarterly high…the credit ratings agency said its Oil and gas liquidity stress index – a measure of corporate financial weakness in that sector – rose to 10.4% in June, nearly a 3-fold jump from a year ago…
Debut burden is a concern for many companies in this sector…according to Bloomberg, interest payments are eating up more than 10% of revenue for 27 of the 62 drillers in the Bloomberg Intelligence North America Independent Exploration and Production Index, up from a dozen a year ago…the Oil and gas boom in the U.S. was made possible by the extensive credit afforded to drillers…not only has financing come from company shareholders and traditional banks, but hundreds of billions of dollars have also come from junk-bond investors looking for high returns…
Oil and gas companies accounted for one-third of the 36 corporate-debt defaults worldwide this year, and missed interest payments are the leading cause of default, according to an S&P report…globally, it’s believed that several trillion dollars in Oil industry debt is outstanding….
More Warnings From The IMF
The International Monetary Fund has warned that emerging economies and bond markets need to prepare for an increase in corporate failures if and when the Federal Reserve and other central banks in advanced economies begin raising rates…the IMF, which has urged the Fed to wait until next year to raise rates for the first time in almost a decade, and others have expressed concern about the surge in dollar-denominated debt in emerging economies and the potential impact that a sudden increase in rates would have…the issue is likely to be among the most discussed when the world’s central bankers and finance ministers convene for next week’s annual meetings of the IMF and World Bank in Lima, Peru…
Driven by the cheap cost of money, over the past decade the corporate debt of non-financial companies across major emerging market economies more than quadrupled from $4 trillion in 2004 to more than $18 trillion in 2014…
Meanwhile, a prolonged period of low commodity prices is on the horizon, according to IMF head Christine Lagarde who was addressing the Council of the Americas today. “The prospect of rising interest rates in the United States and China’s slowdown are contributing to uncertainty and higher market volatility. There has been a sharp deceleration in the growth of global trade. And the rapid drop in commodity prices is posing problems for resource-based economies,” Legarde stated…
Today’s Equity Markets
Asia
Despite government data showing industrial production fell 0.5% on-month in August, Japan’s Nikkei led Asian markets higher overnight, gaining 2.7% to finish the session at 17388…on a quarterly basis, the index tumbled 14.1%…
Technically, the Nikkei has found support just above its early 2015 low as you can see in this 4-year weekly chart…RSI(14) has hit a level not seen since the spring of 2012…after not being able to hang on to the 18000 level, the next really critical support for the Nikkei is 16000…a drop below that level could create some panic…
China’s Shanghai Composite index nudged up modestly overnight, adding 15 points to close at 3053…for the quarter the Shanghai was down a whopping 34.1%…most investors stayed on the sidelines today ahead of the week-long National Holiday which begins tomorrow…
Chinese consumers were feeling relatively upbeat in September, despite their economy seemingly under intractable pressure…the Westpac MNI China Consumer Sentiment indicator was 118.2 in September, the 4th consecutive monthly increase and the highest level since May 2014…the reading was 116.5 in August…the rise may seem surprising given the slew of negative headlines about the Chinese economy lately, and in particular the recent plunge in Chinese stock markets…but as the MNI/Westpac statement noted, only 11% of their respondents said they actually invested in the market, meaning “the majority of consumers barely batted an eyelid” during the rout…
China’s PMI’s will be released tomorrow and should shed light on the state of the country’s all-important manufacturing sector…
Europe
European markets rebounded sharply today, up more than 2%…
Shares in London-listed miner Glencore gained more than 10% again after the company said it had taken “proactive steps” to withstand the commodity market conditions and said the firm remains “operationally and financially robust”…Frank Holmes, CEO and Chief Investment Officer at U.S. Global Investors, told CNBC, “Glencore is like Lehman Bros. – they have the most sophisticated trading desk when it comes to metals, Coal, Copper, Iron Ore. They’re not just a company processing ore from the ground. If it was to unravel, that could have a global impact.” Holmes warned that Glencore could drag the entire market down since it relies so much on leverage to generate high rates of return, and its heavy counterparty exposure has led to fears that it could begin to topple the markets if it fails…despite Glencore’s reassurances, credit-default swaps keep rising, signaling the company has a 53% chance of default in 5 years, according to data from S&P Capital IQ…
North America
The Dow is closing off a rough quarter on a positive note, adding 129 points as of 9:30 am Pacific…
Private-sector payrolls in September rose at a solid pace that matched expectations, according to an employment survey released today…private payrolls in the U.S. increased by 200,000, according to payroll processor ADP and forecasting firm Moody’s Analytics…meanwhile, the Chicago PMI showed surprising weakness in September, with the gauge dropping below 50…it fell to 48.7, compared with expectations of 53.0 and down sharply from 54.4 reported a month earlier…
Hopes for an American export boom are wilting under the weight of a strong dollar and a weakening global economy…U.S. exports are on track to decline this year for the first time since the financial crisis, undermining a national push to boost shipments abroad…through July, exports of goods and services were down 3.5% compared with the same period last year…new data released yesterday by the Commerce Department showed that exports of U.S. goods sank a seasonally adjusted 3.2% in August to their lowest level in years…
Updated Dow Chart & “Crash” Possibilities
As you can see in this 35-year monthly Dow chart from John, major sell-offs in this market have only occurred when the Dow has fallen below its 1000-day moving average (SMA) which is currently rising (good sign) and sitting at 15370…in addition, RSI(14) support at 45% has also proven to be critical, and so far that support is holding…
Given the above technical facts, plus historical data, pundits who are predicting a near-term market “crash” don’t have a lot of evidence to back their predictions…historical data show that U.S. stocks are about to enter a seasonally merry time…since 1995, the last 3 months of the year have been notoriously bullish for the stock market with the S&P 500 posting an average gain of 5% – by far the best quarterly return of all 4 quarters…
TSX 6-Year Monthly Chart
The TSX, meanwhile, is already at oversold RSI(14) levels on this monthly chart not seen in more than 6 years…this chart was very accurate in predicting a “toppish” market late last year, given extended overbought RSI(14) conditions…the question now is, do current RSI(14) levels tell us the TSX is likely at an important bottom as was the case in late 2011?…there is a strong band of support on the TSX between the August 24 low and current levels, so that’s important to keep in mind…
The TSX is up 155 points as of 9:30 am Pacific while the Venture is down 2 points at 522…
Equitas Resources (EQT, TSX-V) Update
Equitas Resources (EQT, TSX-V) backed off slightly yesterday and again this morning but on low volume compared to recent weeks, and the CMF continues to show steady buy pressure…this morning’s 17-cent low touched support at the bottom of the pennant formation (part of a broader upsloping channel) which is tightening up considerably, setting up the possibility of a near-term breakout to the upside as occurred following the 13-day consolidation pennant in August…
EQT is off half a penny at 17.5 cents as of 9:30 am Pacific…
Pure Energy Minerals (PE, TSX-V) Update
As John showed in some previous charts, Pure Energy Minerals (PE, TSX) became quite overextended technically mid-month when it surged as high as $1.03…the stock was in need of some immediate consolidation to unwind temporarily overbought RSI(14) conditions, and that is exactly what occurred…
A very strong support band exists between 50 and 55 cents, underpinned by a rising 50-day SMA currently at 49 cents…so that area appears to be the “sweet zone” for fresh accumulation…RSI(10) is at support at 40% while RSI(2) is in oversold territory at only 14%…as foolish as it was for some traders to chase PE above $1, it’s wise now to be looking closely at this support band…
PE is unchanged at 54 cents through the first 3 hours of trading today…
Sernova Corp. (SVA, TSX-V) Update
In early August, we suggested readers take a close look at Sernova Corp. (SVA, TSX-V), a speculative non-resource play in the health sector…SVA is a clinical-stage company developing products for the treatment of chronic diseases using therapeutic cells transplanted into an implanted medical device to replace missing proteins or hormones…recently, the company announced the signing of a licence agreement with the University Health Network (UHN) of Toronto to gain exclusive worldwide rights to certain patent-pending technologies that relate to the development of stem cells into glucose-responsive therapeutic cells for the treatment of patients with insulin-dependent diabetes…
John’s first chart on Sernova August 7 showed a strong Fib. support band between 20 and 23 cents that coincided with rising 200 and 300-day SMA’s, an ideal “entry point”…SVA has made a significant climb since then and is once again threatening to break out from chart resistance at 31 cents…it’s up half a penny at 32 cents as of 9:30 am Pacific…
The company, with about 140 million shares outstanding, has nearly $4 million in working capital and no debt…keep in mind, about 9 million shares from a May financing at 18 cents became free-trading as of the middle of this month…this obviously had something to do with the company’s news September 21:
“Admission to the OTCQB expands Sernova’s presence in the United States, will provide our existing U.S. shareholders with an improved trading platform, and is part of our long-term strategy to introduce the company to a broader range of institutional and retail investors,” stated Dr. Philip Toleikis, President & CEO of Sernova. “This is a timely move given the company’s growing international presence with its expanding corporate and academic collaborations, product development programs, and partnering discussions.”
Sernova stated in that news release that it will be embarking on a “comprehensive investor relations effort, attending institutional conferences and targeted investor meetings in Toronto, Atlanta, Boston and New York.”
So at least they’re trying to get the word out…
Note: John and Jon both hold share positions in EQT. Jon also holds a share position in PE.
If China intends to achieve its 7 percent growth target this year, Beijing will unveil more stimulus measures.
Uwe Parpart, managing director and head of research at Reorient Financial Markets said “I think the market is going to trade sideways through the end of the year, unless China steps on the stimulus pedal once again.”
Stocks in China and Hong Kong rebounded on Wednesday morning, as auto shares surged on government support measures, fanning hopes that Beijing will unveil further steps to prop up other struggling sectors.
Sentiment was aided by a surge in Chinese auto stocks, after Beijing announced it would halve sales tax on small-engine cars. “The tax cut is good news, as it raises hopes that China will unveil similar stimulus in other sectors,” said Alex Wong, director of Ample Finance Group in Hong Kong.
Comment by ConcernedCitizen — September 30, 2015 @ 9:20 am
Today is day 12 of the 15 day pennant breakout. Looking good on EQT.
Comment by dave — September 30, 2015 @ 9:34 am
EQT…..Word from IR is that “It is anticipated that the closing of the first Tranche of the PP will be announced on Monday”.
Comment by John - BMR — September 30, 2015 @ 10:26 am
DBV – .085 and the silence is defining. Someone has to know something about that court hearing .
Comment by Les — September 30, 2015 @ 10:46 am
John- by Monday we will be at the apex, correct? The spring will be very compressed!!
Comment by Bob — September 30, 2015 @ 10:56 am
Tokyo stocks gained amid expectations for more monetary and fiscal stimulus following weakness in recent economic data. Domestic demand is tepid in the world’s third-biggest economy and China’s slowdown has also crimped Japanese exports.
“Japan will be inclined to boost both fiscal and monetary stimulus soon” if the risks of a slowdown in China do not fade in a few months, Mizuho Bank said in a daily note. “The real question is not if more stimulus may be expected, but rather, how much stimulus will be rolled out, and when.”
So Japan, China, ECB are under pressure to roll out massive stimulus packages soon.
Comment by ConcernedCitizen — September 30, 2015 @ 11:33 am
Bob- Between now and Monday we may have to adjust the shape of the Pennant due to trading levels so I would not worry about it being at the apex.
The point to concentrate on is the 15 day period.
By my count today is day 11 so Day 15 will be on Tues. I start the count the day after the peak price level.
If it does not B/O within the 15 days then the probability is the pattern will change but will remain bullish. OK?
Comment by John......BMR — September 30, 2015 @ 11:47 am
Agreed Les…I’m picturing rolling tumbleweeds and crows sitting on dusty equipment at the Hat. Hopefully patience will be rewarded to us longs and this court hearing will happen soon. We desperately need some good news from the courts and give Farshad the go-ahead to “release the hounds”.
Comment by ChetBaker — September 30, 2015 @ 11:58 am
Nice Close GGI. some news at 6pm? Is they want to built some speculation before drilling it’S time now!
Comment by Martin — September 30, 2015 @ 12:57 pm
John- thanks for the explanation…
Comment by Bob — September 30, 2015 @ 1:01 pm
I checked the hearing list for this week, and the DBV case was not on deck. I’ll check next week again and report my findings.
Comment by chris — September 30, 2015 @ 1:17 pm
What about pending results from Mexico? Not holding my breath on those, probably not good enough to release..
Comment by Tombc — September 30, 2015 @ 2:18 pm
Tom, I’m not so sure I’d agree with u on that. The same was said about La Patilla in 2014 when it took a long time for results, and the same about Silver Eagle earlier this year. Results turned out to be excellent. I think the situation u have right now is a company going all out 100% on drilling the Grizzly and confirming a discovery, and Mexico will look after itself shortly at the right time. Massive push on the ground by GGI right now on the Grizzly because it feels to me they’ve got something on the geophysics or geochem side that tells them they’re seeing a major sweet spot to drill into. If that’s the case, they are totally focused on getting it right at Grizzly Central.
Comment by Jon - BMR — September 30, 2015 @ 2:32 pm
Wow. That was good timing on MSD.V yesterday with news out this am! I’m hearing this could mirror a NPH.V tpye run. Hope it’s now officially on everyone’s watch. Almost 4M in volume!
Also took positions in AAO @.045 and ALY.V @.20
AAO should see continued news flow into the fall
ALY the volume got me today. Ha. It’s been on my watch for about 2 months. Today pulled the trigger @.20
Last pp I think was at .32 with .50 warrants. Room to run??!
Jon and John. Would love to hear your thoughts on these 3 plays.
Cheers.
BigRig.
@BigRig_Trader
Comment by BigRig — September 30, 2015 @ 2:39 pm
Thanks Chris , can one get that information on line ? If so could you copy and paste the link for those who want to keep an eye on things.
Comment by Les — September 30, 2015 @ 3:17 pm
Another hint that drilling is imminent, but no announcement. KEY REASONS WHY GGI’S GRIZZLY IS AN IMMEDIATE, POWERFUL DISCOVERY OPPORTUNITY
garibaldiresources.com/i/pdf/GGI-Targeting.pdf
Comment by Dan — September 30, 2015 @ 3:21 pm
Ok I’ll rephrase that, probably not on the top of the priority list at this point, well let’s hope a new quarter is a good one, the v needs it, weather has been ideal so let’s hope their makeing good progress.
Comment by Tombc — September 30, 2015 @ 3:22 pm
China cut the purchase tax on vehicles with engines 1.6 liters or smaller by half to 5 percent effective Oct. 1 through the end of next year. In the first eight months of this year, 68 percent of cars sold in China had engines smaller than 1.6 liters, according to Bank of America-Merrill Lynch.
The intervention suggests the auto industry is “too big to fail,” as it contributes more than 10 percent of China’s gross domestic product, tax income and employment, according to Sanford C. Bernstein & Co.
Credit Suisse Group AG estimated that the tax cut will boost passenger-vehicle sales by about 3 million units a year.
Yale Zhang, the head of Shanghai-based consulting firm Automotive Foresight, said the tax cut could lead to additional sales of about 100,000 vehicles per month for the rest of the year. “I am expecting some 300,000 to 500,000 additional sales for the last three months of the year in total,” he said.
Rampant discounts and other incentives were already in place in the market and there has been a general decline in retail prices of cars in recent months, Zhang said.
“Some are assuming lower sales taxes for new car purchases are not going to help much, but a government move like this is so heavily and widely publicized by Chinese media that it is more effective than deals advertised by companies,” he said.
“The car stimulus policy is expected to trigger car production recovery, which in turn will support demand for copper and steel,” says Helen Lau, analyst at Argonaut Securities. This stimulus policy will result in incremental increase in copper demand by 37,000 tons, 100,0000 tons and 166,000 tons in 2015, 2016 and 2017, respectively if auto sales will increase 2% annually between 2015 to 2017, says Lau.
Pieced this together from a handful of articles.
Comment by ConcernedCitizen — September 30, 2015 @ 3:23 pm
This statement says it all “NEXT IMPORTANT GRASSROOTS DRILLING DISCOVERY”
Confident is at it’s highest!
Comment by Martin — September 30, 2015 @ 4:39 pm
Sometimes there are important messages in the details that are easily skipped over, folks…I just picked up on something perhaps hugely significant – this is the first time, in any information I’ve seen out of GGI or the district companies the past 2+ years, that a specific north-south dimension has been put on the Sheslay mineralized Corridor – it has always been referred to as about 30 km long…GGI is now referring to the Corridor as a “NW-SE trending system that’s at least 30 km long (NW-SE) and up to 20 km wide (N-S)”.
It appears the confidence in Grizzly Central is pushing out the width of this corridor…so a 30 km long NW-SE trending corridor, with 2 known deposits 10 km apart along that corridor, and the width of that corridor stretching up to 20 km…the scale of this is amazing…Grizzly Central must be lighting up like a Christmas tree on an IP or through geochem or something, with indications of this system continuing further to the south, under mostly an overburden cover…something has happened here because we picked up over the weekend from sources in Telegraph Creek that there was a rapid increase in supplies and personnel going through a staging area just east of Telegraph Creek, by helicopter to Grizzly Central (including Tahltan crews and unimpeded by other Tahltan which is important)…
Comment by Jon - BMR — September 30, 2015 @ 5:29 pm
Good work Jon , the bigger the better.
Comment by Les — September 30, 2015 @ 5:37 pm
GGI. This is hugely significant. I can’t wait for them to drill into this. Jon I think they hit on the first hole.
Points 3 to 6 are very telling.
Comment by Dan — September 30, 2015 @ 5:40 pm
Jon Sept 30, now it is 19-29 !
We also know this: GGI must COMPLETE its initial round of drilling within the next 30-40 days, given their current camp set-up. If they hit, and there’s a darn good chance they will if you just look at the historical drill hole success ratio in the district, they’ll have the opportunity to quickly winterize their camp and drill to their hearts’ content ’til Christmas and through the winter. In the case of Grizzly Central, given some of the boggy areas, it can actually be easier to drill there during the winter.
Comment by Jon – BMR — September 19, 2015 @ 12:44 pm
Comment by Guy Delisle — September 30, 2015 @ 5:59 pm
Yes, they are obviously very close to drilling, Guy, and if their “bar code scanner” (whatever they’re using) over Grizzly Central is as effective as the one over Rodadero, a first-hole discovery hit, or the one over San Miguel that turned into a large, rich ore body, then the Sheslay district could potentially turn this entire market around by itself…the market needs something big, preferably in Canada…
Comment by Jon - BMR — September 30, 2015 @ 6:03 pm
This will be huge Jon, Grizzly central is the center of all activity than took place in the Sheslay. At this point don’t knows if I am to bullish, but this will make Red Chris look like nothigh.
Comment by Martin — September 30, 2015 @ 6:05 pm
Martin, Red Chris is one deposit, in a fairly confined area, with good grades and going down more than 1000 meters…we’re talking not 1, not 2, but probably multiple deposits about 120 km west of Red Chris, along a corridor that’s at least 30 km long and up to 20 km wide (what’s known at this point)…the Hat by itself has the potential to be bigger than Red Chris…we need to know what’s hiding under Grizzly Central…
Comment by Jon - BMR — September 30, 2015 @ 6:10 pm
Bigrig – MSD already looks like the NPH run, I sure as heck would not be buying it after the 2 month run its had, I would sit and wait for it to pull back some, but thats me.
Comment by dave — September 30, 2015 @ 6:37 pm
Jon They have enough of this 25 km2 area of grizzly central to start with, about supply that was evidence of winter supply infra or normal drilling activity?
Comment by Martin — September 30, 2015 @ 6:39 pm
Jon do you think speculation will set in once drilling start of result will be the only key in getting our share price up?
Comment by Martin — September 30, 2015 @ 6:49 pm
EQT – There was a drill core pulled out and ground work (very minimal up to 100 meters) on one of the first targets EQT is at this Summer. INCO drilled a hole. The geo’s report to that logged hole is in the mines records at the Province and also in one of the papers I put on this thread.
The core revealed the identical geology to the Voisey host rock site.
EQT has penetrated much deeper with the VTEM to over 350 meters in some locations and found identical signatures as Voisey Bay. Voisey Bay offshoots, which there are two deeper at 200- 300 meters below the surface.
So understand this, it is the same signatures and geology host rocks and structure. These are FACTS. As well, the couple pods that were not on the surface of Voisey Bay are underneath the surface at about 300 meters. EQT’s VTEM got extremely strong identical signatures 250 – 300 meters underground that are identical to Voisey Bay, where I might point out that Makela and King know about in more detail than anyone on the Planet.
Exploration is not for the faint of heart people, but I have never seen this type of solid DD by a rinky-junior mining exploration company before. Who the heck risks a Million dollar .05 cent private placement to do a VTEM over Moose pasture. I wouldn’t, but these gentlemen are certainly in the know and they have PROVED that already.
EQT has 9 great targets identified in separate areas. Voisey Bay has basically one with a couple offshoots 200-300 meters down.
The old EM stuff only went down 75 meters people. Understand that nickel deposits come in bunches and it is really looking like, based on FACTS that EQT could have the Grand-daddy of the area and Voisey Bay was an off shoot of the Garland.
Anyone know why to this day nothing else has been targeted on the land package 28 KM to the North West across the Bay? Yes, INCO and VALE spent years exploring their property and guess what ……? Now the World has the Garland.
I remember reading this many months ago. This is a quote from Urbani on SH.
People easily forget what the fundamentals are during the day to day gyrations of the market. I haven’t seen potential in my 7 years of being in financial markets.
Comment by Kenzie — September 30, 2015 @ 6:57 pm
potential like this***
Comment by Kenzie — September 30, 2015 @ 6:58 pm
We can only assume it’s all for Grizzly Central, Martin…personnel, equipment, supplies – things needed for upcoming drilling plus it appears additional geophysics for target refining or confirming potential new targets, if they’re seeing something out of the ordinary…winter camp preparation is something that would come after drilling starts and if they’re confirming a discovery…
Comment by Jon - BMR — September 30, 2015 @ 7:02 pm
Kenzie, good post…it has been a very busy day…we just got some interesting pictures in from the Voisey’s Bay area (Garland camp)…we’ll attempt to get a couple of these out tomorrow for our readers…
Comment by Jon - BMR — September 30, 2015 @ 7:31 pm
Big Rig I think you meant the group behind MSD as well as NPH and VID is HT Capital Corp. I thought it was the Howard Group to start. I have been following Al Homsi on Twitter and have seen your comments as well there . I like your comments and look forward to reading them.
Comment by Hugh — September 30, 2015 @ 8:34 pm
China’s manufacturing gauge stabilises near 3-year low as stimulus measures gain traction.
The report signals that five central bank interest rate cuts since November and the government unleashing new rounds of infrastructure spending are gaining traction, helping to cushion the world’s second-largest economy. Still, excess capacity and factory-gate deflation are pressuring China’s manufacturers, adding headwinds for the government’s 2015 growth objective of about 7 per cent.
Glencore recovers nearly all of the week’s losses as weak data from China prompts hopes of more stimulus, supporting metals prices.
Traders are now pinning their hopes on sector-specific stimulus from Chinese authorities to shore up its manufacturing, after investors took heart from a rash of measures announced this week targeting the auto sector.
Comment by ConcernedCitizen — October 1, 2015 @ 1:41 am
China is expected to ease policy further in coming months in its biggest stimulus campaign since the global financial crisis.
Despite a stream of stimulus over the last year, including five interest rate cuts since November, there are worries that China’s third-quarter GDP data on Oct 19 will show growth fell below 7 percent for the first time since the global crisis.
Comment by ConcernedCitizen — October 1, 2015 @ 1:55 am
The industry in the euro zone slowed in September but the PMI index (a leading indicator thingy) amounted to 52 points. What does that mean? Glad you asked.
Any number above 50 indicates growth. Moreover, the data indicates that the European industry is kind of unaffected by the slowdown in China.
So in short, no China crash, USA economy super strong, Eurozone growing giving zero effs about China’s cramps. And everyone and their mother was calling the mother of all crashes.
Comment by ConcernedCitizen — October 1, 2015 @ 2:04 am
In the euro zone, where the central bank is six months into a 1.1 trillion euro asset purchase program, inflation dipped below zero again in September, an early estimate showed on Wednesday. Combined with the PMI survey data that showed factory growth weakened slightly last month, with slowing new orders and output, that is likely to prompt the ECB to expand its stimulus program.
Copper: Independent research house Capital Economics forecasts a strong pickup in the price of copper towards the end the year on the back of lower than expected mine supply growth and output disruptions. The house view at Capital Economics is for the price of copper to reach US$6,250 per tonne by end-year, rising to $7,000 by end-2016.
Comment by ConcernedCitizen — October 1, 2015 @ 6:12 am
EQT – looks like the ‘rumoured’ shorts are winning today and wont be part of any push/spike in the future
Comment by david — October 1, 2015 @ 6:31 am
Short Positions for EQT
Symbol Report Date Volume Change Shares Issued % Float
V : EQT 2015-09-15 4,354,400 1,068,000 42,546,035 10.23
V : EQT 2015-08-31 3,286,400 3,208,900 41,823,035 7.86
Comment by MURF — October 1, 2015 @ 7:03 am