Gold has traded between $1,074 and $1,090 so far today…as of 8:45 am Pacific, bullion is down $6 an ounce at $1,080…Silver is off 6 cents at $14.29…Copper has declined 6 pennies to $2.19…Crude Oil is off by more than $1 a barrel at $41.84 while the U.S. Dollar Index is relatively unchanged at 98.77…
A decline in Gold prices back in mid-summer sparked increased investment that sent global Gold demand to 1,121 tonnes in the 3rd quarter, a rise of 8% from the same period a year ago, according to figures released today by the World Gold Council…
Bar and coin purchases were higher, as well as jewelry consumption, said the WGC’s quarterly report on Gold demand trends…meanwhile, central bank demand was at its 2nd-highest level on record…
“If you look at the consumer/long-term investor base, the dip in the price that Gold experienced early in the quarter actually supported the market,” said Juan Carlos Artigas, director of investment research for the WGC…Gold hit its lowest price ($1,072) in nearly 5 years on July 20…
However, against this backdrop, global investment demand rose 27% during the 3rd quarter to 229.7 tonnes, the WGC said…bar and coin purchases were up by a third from the year-ago quarter, coming in at 295.7 tonnes, with Western markets, in particular, showing a surge…this far exceeded withdrawals from Gold exchange-traded funds, which posted outflows of 65.9 tonnes…central banks collectively were net buyers for the 19th consecutive quarter, with purchases by official sector reaching 175 tonnes, almost matching the record high of 179.5 tonnes in the third quarter of 2014, the WGC reported…
Aggressive Gold ETF Selling In November
ETF holdings of Gold have declined by 877,000 ounces so far this month, according to UBS. “Gold ETFs posted net inflows in the previous 3 months, but gains have been more than offset by aggressive liquidations in the early days of the current month,” UBS says.
ETF selling so far in November of 877,000 ounces takes the year-to-date net outflow to 2.7 million…however, despite the recent pick-up in Gold ETF sell pressure, volumes are still subdued compared to the 4.4 million ounce liquidation during the same period in 2014, UBS says. “It will be important to monitor this flow diligently, especially as we get closer to the FOMC’s final meeting for the year.”
In today’s Morning Musings…
1. Chart updates on Crude Oil and Copper…
2. Sunridge Gold (SGC, TSX-V) picks up over the last several sessions following a major asset sale…
3. The drill result of the day – deep hole returns more than 11 ounces per ton over true width of 7.5 m…
4. Solid new opportunity at a key breakout point…
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…
Go Ggi!
Comment by Tony T — November 12, 2015 @ 9:29 am
Great day for both GGI and DBV. It’s normal to have to push through walls of stock on the way up. Looks great for the Sheslay District.
Comment by weatheritout — November 12, 2015 @ 9:31 am
Keep doing your research on the Sheslay John and Jon……dig up what you can. Enjoying all the updates, great work.
Comment by weatheritout — November 12, 2015 @ 9:36 am
Finally the main Sheslay players are getting some attention…..just wait until great drill results come out especially if its from both!
Comment by DDD4 — November 12, 2015 @ 10:17 am
Another B.C. area stock which I think has a good chance in 2016 is SKE.v charleybarley
Comment by charleybarley — November 12, 2015 @ 10:28 am
Jon , that is very good news in your Sheslay District Update that Chad Day will not block DBV from drilling and it is being reflected by the move up in the share price to .135 . You can bet your bottom dollar that Farshad will mobilizing the drilling crew at present and getting those core samples from holes # 24 and 25 to the lab. DBV has lost a lot of valuable time and money dealing with that jack azz and will more than likely never recoupe anything to cover any financial losses incurred. Rumour has it that the cores from # 24 and 25 were so impressive it prompted Chad to act in a knee jerk reaction which has completely backfired . Drill Farshad drill ! If DBV can punch another 4 holes before Christmas break it will put DBV miles ahead of GGI . How about a stand alone gold deposit in Area A at the Hat if they run holes #24 ,25 to 1000 meters and samples are hot enough ?
Comment by Les — November 12, 2015 @ 10:52 am
That’s what you call volume…Good call guys…always nice prior to assays
Comment by weatheritout — November 12, 2015 @ 10:54 am
Looks like price of gold is trying to set a bottom before wave 5!
Comment by DDD4 — November 12, 2015 @ 10:57 am
Les- I think DBV will be returning to the site next week!
Comment by DDD4 — November 12, 2015 @ 10:59 am
DDD4 , that’s what I’m hearing too , and this put DBV miles ahead of anymore else.
Comment by Les — November 12, 2015 @ 11:15 am
Nice to see both GGI and DBV moving up together! Both high volume, bids are strong and both up similar percentages! Imagine when both of them are putting out great results….lol. SVMC in 2016? Plan on it happening imo….
Comment by DDD4 — November 12, 2015 @ 11:17 am
Guess I should proof read before I hit the submit button. Sorry about the bloopers.
Comment by Les — November 12, 2015 @ 11:18 am
Hello EQT are you there…LOL?
Comment by Jamie — November 12, 2015 @ 12:35 pm
Looks like DBV will be closing above that down slopping line on good volume not seen in quite some time . Way to go Sheslay.
Comment by Les — November 12, 2015 @ 12:48 pm
Jon, and that’s why we love anon, let them chase,, nice volume today lets hope it continues as it should, kaketsa will blow once again, real soon….
Comment by Tombc — November 12, 2015 @ 1:20 pm
Apparently everyone else knows about some DBV news but the general Joe public shareholders…big volume on no news…thought we’d hear something by now.
Comment by Steve A. — November 12, 2015 @ 1:44 pm
EQT… hmmmm….. air is out of their tires Jamie… I’ll see whats up on stockhouse..
Comment by Jeremy — November 12, 2015 @ 2:05 pm
Steve A, BMR let the cat out of the bag in both of today’s reports . DBV will be going drilling now that Chad has backed off his stance about drilling the Hat.
Comment by Les — November 12, 2015 @ 3:23 pm
Hi Dave. Are you hearing anything from your EQT contacts? Thanks
Comment by Jamie — November 12, 2015 @ 3:56 pm
EQT is doing just fine, just patiently waiting for assay results and trying to ignore all the BS.
Comment by murf — November 12, 2015 @ 4:20 pm
Murf let’s hope we get lucky with the early targets that are in for assay!
Comment by Jamie — November 12, 2015 @ 6:06 pm
Jon can you have a look at CGC is this the BUY zone here and nice move in GGI thanks for that one average 11.5 in 238000 .
Comment by 123car — November 12, 2015 @ 6:31 pm
Fan Camp (fnc.v) news;
Fancamp’s Magpie process tests recover 98.5%, 99% TiO2
Mr. Peter Smith reports
“SUCCESSFUL TEST FOR FANCAMP’S MAGPIE PROCESS”… Read on Stock Watch…
Comment by Tony T — November 12, 2015 @ 6:45 pm
From the PR;…”Remarkably, and unexpected, were outcomes of the slag testing, which resulted in an almost pure TiO2 product grading 99 per cent TiO2. This latter result can be considered something of a game changer in the licensing process model being followed by the company, knowing the availability of large amounts of slags that are being dumped as waste by many smelting operations throughout the world. In addition, serious interest in this process has been expressed by other TiO2 producers and miners in North America and abroad, emphasizing the rightness of the company’s approach. The company is also looking into the possibility of federal government grants with respect to further development of the process which under current criteria can be considered green. The time frame involved in these processes at present can be measured in months. “….
Comment by Tony T — November 12, 2015 @ 6:47 pm
@123car….I suggest you let CGC find its bottom first before you think of buying.
Comment by John - BMR — November 12, 2015 @ 7:25 pm
Jon or Guy do you have any update on WRR starting to drill its Nevada property? This has gone of for months with little activity.
Comment by Hugh — November 12, 2015 @ 11:56 pm
EQT- If you go to the map that accompanied the Sept. 23rd Update
you will see targets C,J, Q are in an E-W line. These 3 targets
are 3 of the 1st 4 drilled. Either the geophys must have been strong
or they hit something interesting…..Just interesting that 3/4 of the
1st targets are in alignment.
Comment by Bob — November 13, 2015 @ 3:24 am
I wonder if we will get some more photos from Grizzly soon? Hole 4 must be well under way by now. Heavy day of trading for GGI yesterday with a good movement upwards.
Comment by Tom UK — November 13, 2015 @ 3:59 am
Hugh I spoke with Michel to days ago and we have news next week !
Comment by Guy Delisle — November 13, 2015 @ 5:15 am
EQT- That’s right Bob targets C Q I and J are the upper targets, if you add in the lower targets H and G
and draw a line to connect all then you have the Southern Response Trend, a multi-km east-west area of conductivity,
magnetic and structural features straddling a large east-west offset of the Archean-Proterozoic suture.
They believe this extends to the west which is why they then staked that additional large area.
They made the decision not to report visuals so we await assay results.
Comment by murf — November 13, 2015 @ 5:48 am
EQT- Here’s a map of the project area so you can see the SRT Southern Response Trend.
http://equitasresources.com/images/press-releases/nr_images/Anomaly-MAP-September-23.jpg
Comment by murf — November 13, 2015 @ 6:01 am
KSK – I wonder if we will see any more news relating to drilling results soon.
Comment by George — November 13, 2015 @ 6:28 am
Deveron resource dvr.v still halted today must be some big news
Comment by kelly — November 13, 2015 @ 6:32 am
Yes, Kelly, we’ve been mentioning this one (DVR) off an on for the last several months…great share structure…I suspect we’re going to see something very interesting emerge here…
Comment by Jon - BMR — November 13, 2015 @ 6:50 am
I sold some on my spouse’s GGI near the open…..I don’t think it will hold it gains……like I said yesterday when I sold my shares I don’t like how it trades as there seems to be way too many weak hands. Only thing that will change this is good drill results which will make people believers and make them hold.
Comment by DDD4 — November 13, 2015 @ 7:16 am
EQT waking up? Hopefully……assays out any day now so speculation might be in play soon……this could be halted and open multiples higher if they found Voisey grades or ones that point to a potential Voisey! Like I said, this is a lottery ticket play and one that people should have some exposure to it just in case….
Comment by DDD4 — November 13, 2015 @ 7:19 am
EQT- Murf, nice to see that their attention has been
drawn to a specific area. They must be getting some
encouraging signatures at least.
Comment by Bob — November 13, 2015 @ 7:20 am
DVR – w/ 65% held by Greencastle, its gonna be hard to get any w/o running it up. only 69 trades in 90 days ! watching
Comment by david — November 13, 2015 @ 7:26 am
My instincts tell me, David, that it’s a non-mining deal being put into Deveron, we’ll see…given the share structure, a perfect vehicle for an exciting new project…the stock first came on the board in an IPO at 25 cents in late 2012…very tightly held and any loose stock from that IPO has really been cleaned up in recent months…
Comment by Jon - BMR — November 13, 2015 @ 7:57 am
Hey gang, Checking in a bit. Nice run up on GGI yesterday. PE and PHM both with double bottoms in the chart. EQT – I have this vision. It gets halted next week, opens at .15 and runs to .23. Lets see if I am correct.
Comment by dave — November 13, 2015 @ 8:17 am
Dae- EQT looking healthier today….last day of the week with drill results out any day…possibly next week.
Comment by DDD4 — November 13, 2015 @ 8:27 am
DDD4 – you might possibly be right.
Comment by dave — November 13, 2015 @ 8:33 am
EQT – the bids at .10 and .105, if they don’t go away by 3:30, I believe its for a reason.
Comment by dave — November 13, 2015 @ 8:38 am
Dave, most of the selling is coming through broker #1 Anon. You think some could be insider selling??
Your thoughts!!
Comment by Jeff — November 13, 2015 @ 8:57 am
EQT Why did Vale pass on the property?
Comment by ConcernedCitizen — November 13, 2015 @ 9:04 am
EQT It’s a secondhand property area play? High risk high reward I suppose.
Comment by ConcernedCitizen — November 13, 2015 @ 9:08 am
There is a reason why mother INCO passed on the property.
Comment by tony t — November 13, 2015 @ 9:10 am
Jeff – Not totally sure, but I would doubt it. Insiders hold most of the warrants and some don’t become free trading till next week. It would be nice to have excellent assays to drive the stock as these warrants become free trading. This is what we are hoping for anyway.
Concerned citizen – we have been over why Vale passed a dozen times since july.
Comment by dave — November 13, 2015 @ 9:11 am
EQT – Oh, the TA is turning positive on it. Its showing .095 to .10 was the true bottom.
Comment by dave — November 13, 2015 @ 9:13 am
ConcernedCitizen- there’s only one reason why a company passes on a property….if I remember correctly they drilled one hole and left. Remember that technology only allowed them to see 75m below back then and now much deeper. They say that its usually never the 1st company that explores the a new property that makes the discovery……its usually the 3 or 4th company to explore it that makes the discovery.
Comment by DDD4 — November 13, 2015 @ 9:15 am
This is part of a discussion that occurred elsewhere back in Sept. … I can’t verify but the comment that Garland was Vale’s number 1 exploration target and subsequent remarks are interesting.
Regards to EQT insiders haven’t sold to make money, they sold to place it all back in the PP’s. SO if the company misses then so do the insiders. They have 9 targets to drill and not only one all throughout 25,000 hectares so they could test different areas of the property to prove or disprove a thesis. I haven’t heard how deep they will drill but their theory is when they utilized VTEM they saw below the historical depths of 70m and the property lit up with 8 of 9 new targets. To most in the industry they would know who Alan King is and if he’s willing to quote ‘likeness’ to Voisey’s itself this garners my full attention. Keep in mind a part of the property was Inco’s #1 exploration target for a reason perhaps a reason that kept quiet when Vale acquired the company and personal… I hear the Brazilians weren’t really interested in the individuals involved, just the production value. The other key fact is that the property lies on the same fault line as the Voisey’s discovery hill and we all know that the VB was created through a magmatic event. I’ve been studying the topographical maps of the two areas and may have found some interesting formations. I have acquired a small position and will wait for the next news after these financing closings to see what the update is. For the most part the team they have are all solid individuals that are top notch in their own seats. Former Principle Geo for Vale in charge of N. American Exploration, Former Chief Geophysicist of Vale Global Operations, Raymond Goldie Senior Market Analyst, Dan Lee who ran the base camp of Archean Resources then studied the Voisey’s for Inco and Vale, Qianjie Wang which is one of Zijin’s main geologists that has vetted the Ivanhoe, Barrick and Pretium $1B investments this year. All of these guys are not recycled placements and usually would never get involved with such a junior and green company unless they also see the opportunity.
Comment by Treb — November 13, 2015 @ 9:47 am
*Inco
Comment by Treb — November 13, 2015 @ 9:49 am
“Induced Polarity (“IP”) ground-EM surveys, and ground reconnaissance sampling.”
All that for one measly drill hole lol.
The overburden thickness could be 20 meters. Labrador plays and lotsa overburden go hand in hand.
DDD4 Hope your EQT lottery ticket pays you a handsome reward.
Comment by ConcernedCitizen — November 13, 2015 @ 9:51 am
Treb- thanks for the repost/refresher of why EQT has a lot of eyes on it….
Comment by DDD4 — November 13, 2015 @ 9:52 am
ConcernedCitizen- if I lose on my lottery ticket I’m not worried as DBV will reward me handsomely…..
You weren’t competing with me for more DBV shares today so it was easier for me to buy more…good times coming soon….
Comment by DDD4 — November 13, 2015 @ 9:55 am
I posted a while back why Kyler did not post core pics. I guess some missed it. The move was a correct move although the share price went down because of it, I have a hunch Kyler is just smiling right about now.
Comment by dave — November 13, 2015 @ 10:17 am
Dave- I think results are not going to be out soon…..maybe in 2-3 weeks as I read that the labs out there are short staffed.
Comment by DDD4 — November 13, 2015 @ 10:43 am
DDD4- The labs are not short-staffed, they have
simply reduced some staff, due to the low volume
of work currently…very little drilling………..
Comment by Bob — November 13, 2015 @ 11:09 am
Bob- yes, they reduced staff due to winter and now with EQT core they are short staffed to meet the demand…..therefore it will take longer to process…..I sold most of my EQT but will get back in prior to results…..I think I have time to make money elsewhere and then get back in. I don’t think it will move much ahead of results especially if the results are only in 2-3 weeks….don’t forget the free trading shares coming on the market next week.
Comment by DDD4 — November 13, 2015 @ 12:06 pm