Gold has traded between $1,104 and $1,112 so far today…as of 10:30 am Pacific, bullion is down $3 an ounce at $1,105…Silver is off 9 cents at $14.98…Copper has fallen a nickel to $2.28…Crude Oil is 50 cents lower at $45.93 while the U.S. Dollar Index is up slightly at 97.98 with the October jobs report coming tomorrow…
The consensus forecast for October payrolls is 184,000 compared with 142,000 a month earlier, according to a Bloomberg survey…the unemployment rate is projected to hold at 5%…
Holdings in exchange-traded products backed by Gold shrank 3.4 metric tons to 1,536.26 tons on Monday, the lowest since October 13…
Prime Minister Narendra Modi today called on Indians to put thousands of tonnes of Gold stacked away in households and temples into productive use, launching three programs aimed at cutting massive imports of the metal…the government hopes the Gold monetization scheme will prompt families to deposit the metal in banks for interest while the sovereign Gold bond programme will cut physical demand, though some experts reckon public response will be limited…India’s obsession with Gold is rivaled only by China, with the metal used widely in wedding gifts to brides, religious donations and as an investment…the country has amassed about 20,000 tonnes of Gold worth over $800 billion in family lockers and temples…
In today’s Morning Musings…
1. Exclusive audio interview plus how Kaketsa may have “boiled up” something special at Grizzly Central…
2. Updates on Doubleview Capital (DBV, TSX-V) and Discovery Ventures (DVN, TSX-V)…
3. Richmont Mines (RIC, TSX) reports another stellar quarter…
Plus more…to view the rest of today’s Morning Musings, login with your username and password, or click here to gain full access to this and other exclusive BMR content and features…
65 Comments
Interesting interview,Jon!Mr. Regoci states that he expects a couple of barnburner results from the next holes for DBV,as they have figured out the system.GGI holes will also come in big apparently,as they have been using an XRF Analyzer and know what they have.
If DBV can get back to working,we could be seeing that back to back to back PR situation I’ve been talking about which would propel both companies shares going into the new year.
TLK – “Drilling Extends Porphyry Mineralization at Kiska’s Kliyul Project” Read more at StockHouse website… Nov. 4, 2015
what does everyone think about this news?
02charoc, Teck delivered some very interesting results yesterday from their summer drilling at Kliyul (they optioned this from KSK), which is a project we’ve been following closely for some time now. There is much more to this story developing.
EQT – we either have a leak that slipped out or they are playing games with those bids again. Good size bids just showed up.
GGI – wow wow wow is all I have to say right now. DBV. Same thing when they get drilling again.
Jon
thanks for the interview, love it when Regoci says people have no idea of what is happening here and the scale of this area,….. at some point they will and that is going to be fun to sit back and watch, maybe just maybe I might finally have a winner here in GGI and DBV.
Thanks Jon
Jon being a BMR Gold member do not have access to the interview on GGI or do I have to up grade to the Pro .
Randy, as a Gold subscriber, you have access to all BMR online content with the exception of the Sunday Sizzler Report (Pro only). So please make sure you are logged in to read the full Morning Musings report.
There’s a big reason why BMR and it’s readers are shareholders of Sheslay plays…..this is why the SVMC will be stood up in 2016….lol.
Now when DBV resumes drilling both of the main players will help create some excitement for the region!
I’m biased because I am really overweight with GGI in my portfolio and something I do not normally do. But I have to be honest that I agree with the above comments that people are not yet realizing what is happening here. I really feel that after listening to Regoci and the confidence he has you have to enjoy it. It really doesn’t matter what the market does short term….if gold crashes down to $1000 before it finally bottoms out….this is a discovery play. And it is on a massive scale. When DBV starts drilling again and we start putting out assays .14 will be a thing of the past. It’s not very often that all the ducks line up for a company and when it does you have to go overweight…..because they are so darn hard to find! Alright enough of the blurb, congrats to all that have taken positions in either GGI or DBV, I think the next few months are going to be exciting.
“We’re getting some interesting numbers with our XRF……but we will wait for the assays….were really excited what we are seeing there” …… that’s enough for me
Weatheritout….nicely said. I’m extremely over weight in DBV for obvious reasons. Discoveries are rare and don’t happen often so when you’re sure that you have one it’s important to position yourself to fully take advantage of it! It’s decisions like this that end up being life changing when right!
Maybe I should sell my lottery ticket EQT for GGI soon!
Jon, nice teaser interview with Regoci. Thanks. When will the full interview be available?
EQT– I think people in the know are very excited about this. Even the head of IR said everything remains tight lipped until there is evidence behind it. Most have forgotten about this but think about the NRs. My view is that samples being sent to a lab (some for petrographic analysis)is huge.
The SP drop I think can be attributed to nervous retail, a large institutional shorter and a recent NR that did not mention massive sulphides. However, when you examine the data closer a lot of these events amount to little.
I admit to being perplexed, even nervous at the SP drop. However, part of the reason we do due diligence is to make sure we aren’t the people that leave a play that warrants staying in as it could likely be a HomeRun play.
GGI; Golden cross is about to happen on the daily. Looking good. I spoke to the geo’s at work and it was difficult for them to confirm if indeed those new core pics contained bornite.
McIlroy- agree with your points re: EQT. When a co.
states they will be air tight with info, it creates
a temporary news vacuum, and the negative implications
you state above. This could turn on a dime.
XRF Analyzers – Gold Concentrate – Can be determined in any solid sample with results very close to fire assay, in a fraction of the time (seconds, not hours)
I am trying to find core on the net that would look like those cocked up magntite last two pics, can’t find any, Jon have you seen such core from other bc project. What cu grade can they deliver (those in particular) 1,2,3% copper?
Sylvain, the more critical question is what Au grade could this core deliver…there are some interesting theories floating around, given last week’s geological descriptions and the core photos, not the least of which is the real potential for a high-grade (multi-gram) Gold system in association with a Copper-Gold porphyry system. Geologists we’ve spoken to are in agreement that this area GGI is drilling is intimately connected with the Kaketsa pluton. This is a very fertile and large pluton that has come to surface, and it has indeed been the “heat engine” for Grizzly Central (there are other plutons, not visible, in the district that have impacted other areas, so this is a very juiced-up district with a deep and extensive magma chamber). As far as what the dark core photos are showing, magnetite is certainly key along with what appears to be high temperature biotite (important), and the pyrite. (Dark) andesite (volcanic) rock of the Stuhini group. Kaketsa has cooked up something really intriguing and quite possibly hugely significant here. With the Kaketsa dynamic, and an obvious high temperature system with plenty of fluid throughput, anything is possible. In part, that’s why the Association for Mineral Exploration British Columbia calls this the #1 greenfield district in the entire province. For its discovery and mineral wealth potential, the Sheslay Corridor carries major importance for the junior resource sector which is why we have focused on it so much.
Randy – I have noticed that when I log in to BMR to read everything, close the page and then come back a little or a lot later, it still shows me as logged in even though the system has booted me out. You need to log out and then log back in again to see all the content. Hope this helps.
All you guys ever talk about is ggi and dbv. These are all destined to follow the path of the last hyped up stocks WRR and gbb. Closer to 0
Thanks gents all good now – Randy
Anyone have an opinion as to when we get the first results from GGI’s assays?
Mcllory – I don’t think people in the know on EQT are excited, I KNOW they are excited. You and BOB both have good points and yes EQT can turn on a dime. Their assays are probably less than 2 weeks away. I don’t know for sure, but probably before GGI assays. When you have a stock so oversold as EQT, thats when the 30% to 50% bounces in a day or two occur.
Great looking core on GGI too. With a little luck, both sides of Canada may light up in the coming weeks.
EQT – by the way .09 is very strong support on it. It is also just slightly below the 200 sma. This is where strong bounces occur. This is where retail investors don’t sit back think about the situation. This is the time to buy, not sell. EQT has given no reason in way of bad NR to justify it to continue to fall below .09 – I talked with 2 people today who have been on this since the beginning of February and they bought today. I will remain with my .07’s and watch for that volume kick off cause the bounce will be in progress.
JOn.. thanks for moving the comments to the right a TAB:)
Re EQT… no disrespect to Dave whom I hope is in a better place re his daughter – I believe thatEQT played the market for the PP.. thus the long amount of time it took to close and that they ‘wanted’ to keep the SP above 20.. they closed it and boom… lack of support…
If proven wrong I will eat the words.. but have seen it time and time again…but only in hindsight…. most happened in 2010/2011/2012… and really only figured it out in 2014…
this smells of something … just dont know what…
Matt- unfortunately it sounds like you will miss out on these 2 great plays due to a lack of proper DD…..
Jon do you feel more confident with GGI as things progress? Obviously you have a better “pulse” on this situation than most of us
Absolutely, weatheritout. Evidence continues to pile up. The potential here extends all the way to a discovery that could dramatically impact the district as a whole, and even the broader junior resource market. My read on the situation is that GGI is dealing with not just the known district copper-gold porphyry model and environment, but something not yet seen through drilling within these companies’ property boundaries. Only the assays can answer what that may be.
Patricia, The EQT team are world class guys. I don’t think they are out to embarrass themselves.
EQT- The only thing I smell is the shorts getting burnt,
there is no way they want to be short when those assays come out and they
are getting desperate and posting crap on every site they can find.
Why are they worried, diamond fields $178 a share pre split.
The assays will do the talking.
Having seen how GBB has turned out with their multi million ounce gold deposit I can see where Matt is coming from.
Are there large intersections of this magnetite, Jon? how deep was the first 2 holes?
Martin, what we know about the first 2 holes is what GGI stated – they intersected “abundant” pyrite, finely disseminated chalcopyrite, and magnetite, in a “robust” system. We don’t know yet precisely how deep they’ve drilled to date, though one core photo (which hole?) features magnetite with intense alteration at 250 m. Probably meant to be representative of what they’ve encountered, consistent with the geological statement. Nice intersections here—-the key will be grade, and the type(s) of mineralization. There are obvious signs of district-style copper-gold porphyry mineralization, but in addition to that there are signs of something different (the dark and even funky-looking core with intense alteration, for example) which would be an exclusive product of Kaketsa from a high temperature environment. A most wonderful scenario would be an unusual Gold “kick”, perhaps a high-grade system in andesite on top of a porphyry? – the clues are there for that.
Thank you Jon 😉
Actually Matt, your are correct. Most penny stocks do get closer to zero, but it’s what happens between now and close to zero that makes you money. GGI has been to five cents three times in the last seven years, followed by a ten bagger, then a six bagger, and who knows this time as they are sitting on something big. Dbv may get there yet but I bet it goes up first. Back up the truck!
36. Magnetite content is a very useful indicator of grade. Cornerstone (CGP) last year pulled 50m @1.67% Cu and 3.90 g/t Au associated with a high magnetite content of 7-8%. Not the same kind of system as GGI and as Jon just pointed out …. something special cooked up here possibly. But I am encouraged by the core at 250m with magnetite and intense alteration.
Gold crashing and USD rocketing up on payroll data…..rate hike in December??
The Venture is pretty much shrugging off the Gold drop, DDD4…a rate hike in December might actually be a good thing for bullion…would finally remove the speculation of a rate hike which has been driving the dollar higher…in Canadian dollars, Gold has hardly budged today…keep that in mind…
EQT- Seems as though its being boxed in at these prices…..when the price seems weak a bunch of bids appear and when the price wants to move up a bunch of sell orders appear.
The company did a lot of talking and promotion before going to drill with the “dream team.” If they come out empty handed management will look like fools. KH is young and smart and I don’t think he wants to ruin his career in this industry just yet. I think they know the odds of success are in their favour. If successful KH and team will be the junior of the year imo for their confidence and delivering on their words…….very rare in this industry!
Already Friday and another week passes with no DBV update – was thinking we’d have heard something by now. I guess we wait some more.
I was wondering the same thing Steve. Hopefully we get a news release in 2015.
CGC and OGI tanking big today.Imo,CRS and EXX will be the beneficiaries come next week.The next big PR to come out on Marketwired Monday or Tuesday,which should be the flow rates,will see the cash flow in bigtime.
SteveA , it’s like watching paint dry.
robin – that is only if rates are good. If not, it crashes.
Core pics this evening?
Better yet, Martin, would be a gap-up on news. Regoci surprised some people earlier this week. Will he do it again Monday or Tuesday?
GGI – news releases might be good. it seems to be a proven that GGI doesn’t yet have mass appeal and releasing pics to the website is not overly stimulating the masses yet. So plan B would be to issue a few more NR’s which might go farther than the 100+ faithful that visit the website possibly. Just thinking outside the box here. Every Walsh needs a Felderhoff, and vice versa and having a legit deposit is a bonus. Might be time for Regocci to find an the other half of his dynamic duo to get some more traction in the mktplace
Maybe this is the beginning of the excellerated news flow regoci referred to some time ago, looking at the markets this morning, all is red, this looks like to me that this is purely a chase on the U.S. $.
1-minute warning for Obama to speak at White House to reject Keystone…CNN of course can’t help but refer to the oil sands as the “tar” sands…
EQT – It appears the selling has stopped here. Maybe a perfect scenerio for a bounce soon.
GGI – I am in at .05 and well protected at that price range no matter what happens. It’s up almost 300% from the .05 level.
Dave, GGI – Thanks Dave. some of us are in GGI at higher levels and not protected if the price falls. So up will be more helpful than down at this point. Cant seem to break 0.14.
The U.S. dollar the source of all our woes in gold speak. Dollar goes up, gold goes down and vice versa. We need a stable currency now more than ever instead of one that is whipsawed based on what comes out of the talking heads at the Fed. Abolish the Fed and let a free market decide what the price of things should be. May news from GGI coincide with a rising price of gold.
Jon – I have always heard that CNN is told what and how to say it. Don’t really care for CNN.
Obama rejects keystone pipeline.
nytimes.com/2015/11/07/us/obama-expected-to-reject-construction-of-keystone-xl-oil-pipeline.html
Obama is clearly taking the clean energy path for the remainder of his term which includes the promotion of the electric car.Think Tesla , think PE.V , wake up people.
Yes, this does create certain trading/investment opportunities for sure, Les…the trend is your friend, as they say…the environmentalists have done a great job bashing Oil but Oil will one day gets its revenge…
Carefull with PE les, 12 million warrants free trading at .24 and .35 I believe. If PE closes below .50 here any day coming up, thats your que, it will trigger the sell off with those warrants.
TRX – http://web.tmxmoney.com/article.php?newsid=80447912&qm_symbol=TRX
TRX performing as expected…should make a run to at least $1.40…
Dave , I don’t hold any PE .
Yes Jon , there is still a world market for Canadian oil but we need a pipeline to the west coast to access those markets . Unfortunately every tree hugger and bunny snuggler is having a hay day blocking all attempts to build pipelines even though it is the safest , most economically way to ship it.
Jon – I agree on TRX. Be interesting if they merge with POZN.
Jon
Yes oil will, it always does, there is no other economical and scalable alternative to the oil that we americans crave and consume to get up and go when we want to. Its just a matter of time before Tesla crashes and burns, it is being help up by the US Govt, it loses money on every car and the cars are crap, they actually catch on fire, according to consumer reports, the stock trades at 100 times projected or forward earnings…. but yet the public loves the stock… crazy
Not sure if it is just my screen but when viewing this site now the Facebook/Twitter Email logos etc on the left of the screen keep blocking the comments I am trying to read. Very annoying so just wondering if anyone else is having this issue and if not how do I move these symbols to the bottom of my screen so it doesn’t interefere with what I am reading. Thanks in advance.