Gold has traded between $1,050 and $1,070 so far today, touching a new 5-year low…as of 11:00 am Pacific, bullion is down $14 an ounce at $1,055…Silver is off 14 cents at $14.02…Copper is down 3 pennies at $2.08…Crude Oil has tumbled $1.65 a barrel to $40.20 while the U.S. Dollar Index has added one-fifth of a point to 100.03…
U.S. companies created 217,000 new private-sector jobs last month, handily beating expectations (the strongest report since June), according to numbers released by payrolls processor ADP this morning…today’s report, however, underlined how the manufacturing sector is struggling (only 6,000 new jobs)…the services sector enjoyed the biggest gains, adding 204,000 jobs…the Labor Department will provide November’s non-farm payrolls report on Friday…
Federal Reserve Bank of Atlanta President Dennis Lockhart said today that with the economy growing and inflation depressed due to “temporary” factors, the case to raise rates later this month is looking solid…while officials still have 2 weeks to collect data ahead of their next gathering, “absent information that drastically changes the economic picture and outlook, I feel the case for liftoff is compelling,” Lockhart said…this “is a much anticipated meeting, and there is a chance it will be historic in character. The economy doesn’t require emergency treatment anymore.”
Lockhart added that a rate rise right now would be “a vote of confidence” in the economic outlook that should encourage consumers and businesses to spend, invest and hire…he said that after rates start going up, the path is likely to be “rather gradual”, which means subsequent increases in borrowing costs are likely to be slow and small in nature…
A rise in U.S. inventories for the 10th straight week added to global Oil glut concerns today, and investors discounted the possibility of OPEC cutting output at this week’s meeting…the U.S. Energy Information Administration reported stockpiles increased by about 1.2 million barrels in the week through November 27, bringing total American storage to 489.4 million barrels, near a modern day high…
In today’s Morning Musings…
1. How the TSX Gold Index is gearing up for a powerful rally…
2. How to plant some seeds now to cash in on an emerging drone company opportunity…
3. A look at the two Venture volume leaders today, Graphene 3D Lab (GGG, TSX-V) and Ashburton Ventures (ABR, TSX-V)…
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…
LTE.C that is all.
Comment by BigRig — December 2, 2015 @ 1:10 pm
Wonder why Regoci decided not to reveal the location of hole # 5 yet? The other holes were placed on the magnetics map after they posted drill core pics. I am thinking we possibly get one more update before assay results from holes 1 to 3. Maybe the location and description of hole # 5. Hole 6 must be well on it’s way now.
Comment by Dan1 — December 2, 2015 @ 2:00 pm
Jon, thanks for your report last night. Did some DD on Greencastle and I really like what I see, very low risk play at these prices, don’t see much downside here, I am in.
DDD4 – I thought your post yesterday #15 was bang on. People tend to caught up in the excitement and forget how difficult it is to find an economic deposit. I have looked at many supposedly great looking cores at PDAC (I’ll admit I am no geologist) that didn’t turn out. I am hopeful with GGI and still hold 1/3 of my original position but the assays will tell the tale. The money is almost always made in the buying, getting in before too much of the easy money has been made.
Comment by Danny — December 2, 2015 @ 3:54 pm
New core photo on GGI site? Hole 5 197.2m is on the website. The 292.7m photo (mafic volcanic) that was posted a few days ago is therefore probably from hole 4.
The last two photos are breccias that contain quartz veins.
Getting to the end of the week so hopefully a NR will be out very soon.
Comment by Tom UK — December 2, 2015 @ 5:16 pm
Jon- would Deveron still hold the rockstone property or did they put that to the side for now.
Comment by kelly — December 2, 2015 @ 6:38 pm
Deveron will be focusing exclusively on this new venture, Kelly, which applies the latest in technology to provide cost-effective solutions for the farming sector to boost crop yields. High margins in this, and there is no reason they should not be cash flow positive almost immediately. They’ll have very good penetration initially into the Ontario farming community, and broaden out from there. From a market and a business perspective, this will be a big winner IMHO with low capital costs, high margins, and a story that is also visually very powerful with the drone component. This should be more obvious as additional news rolls out. Greencastle between 6-8 cents is a no-brainer way to play this right now.
Comment by Jon - BMR — December 2, 2015 @ 7:11 pm
Tom last 4 pics are from hole 5.
Comment by Martin — December 2, 2015 @ 7:31 pm
Jon
Any comments on the latest core pics on GGI website?
Thanks
Comment by Greg — December 2, 2015 @ 9:03 pm
The high-temperature alteration, and the obvious presence of hematite (abundant we know in hole 3 near-surface given the dark red core descriptions and photos) is very significant, Greg. The hematite reflects oxidation (from magnetite); hot oxidized fluids are suitable for the formation of strong gold mineralization and deposits.
Comment by Jon - BMR — December 2, 2015 @ 9:30 pm
Thanks Jon
hope you and family are doing ok, sense in your posts that something may be going on?
Comment by GREGH — December 2, 2015 @ 9:51 pm
Everything is awesome, Greg, thank u, appreciate your concern…we’re just extremely busy on the research side at the moment as there are a number of things evolving, simultaneously, so it’s frustrating that we’re not able to put out all that we want to at this particular moment until more DD is completed…we’re going to see a different overall market here shortly and that’s exciting – all the more reason to prepare diligently for that now. We’re also trying to squeeze in a Sheslay site visit before Christmas, so u can imagine the workload and organizational requirements we’re facing. Grizzly Central is a game-changer.
Comment by Jon - BMR — December 2, 2015 @ 10:04 pm
Ok Jon
Glad to hear all is well
Sounds like a lot is going in a short period of time can’t wait to hear more about your Shesley trip!
Comment by Greg — December 2, 2015 @ 10:46 pm
Thanks Martin, I wish I kept a log of what photos were posted on what dates. Assay results are the important thing but I do like the fact that GGI are posting photos as progress with drilling is made. Hole 6 must be well underway by now.
The first 5 holes are more or less in a straightish line and given that holes 4 and 5 are 1.5km apart, will they now step out to the North and South of the West – East strike line?
Comment by Tom UK — December 3, 2015 @ 1:30 am
With jobs data due out Friday, may see an update from regoci but not results, to unpredictable, we need the U.S. Buck to fall flat on its face…
Comment by Tombc — December 3, 2015 @ 5:24 am
1 month ago that the first two holes were sent to the lab, it is certain that the results are known, probably not good enough for a news.
Comment by Guy Delisle — December 3, 2015 @ 6:21 am
Which company are u referring to, Guy? Certainly can’t be GGI as Regoci confirmed to us again yesterday nothing has been received yet from the lab. Given the look of the core, and the descriptions, one should assume the lab is doing a large mineral sweep, and high-grade re-checks are also possible. Core would have initially gone to a prep lab up north, prior to the assay lab in Vancouver. Labs are not quick these days, they are very short-staffed – just ask EQT.
Comment by Jon - BMR — December 3, 2015 @ 6:46 am
GGI – when I spoke to them on Nov 6 , the 1st shipment to the lab was still enroute. this is a Heli site. stuff doesnt just hop a ride to the lab next day. They expected a week in transit etc, before it hit the lab. not sure where they split the core, cause we are looking at whole sections, which aren’t prepped for the lab yet. My notes also say, they hoped for results end of the mth. Just 3 days into Dec. I’d like results, but I’m not thinking the worst, yet. The comment about a Major sniffing around may be the way to get the next financing done and in the bag without going to the mkt, which could also be a reason for a delay, make them commit based on visuals? Lots of ideas about why we are still waiting for results. time will tell.
Comment by david — December 3, 2015 @ 6:52 am
About GGI Jon !
Comment by Guy Delisle — December 3, 2015 @ 6:52 am
It would appear everyone is now waiting for ggi results. Buying has dried up.
Comment by Tony T — December 3, 2015 @ 6:56 am
Jon – do you have confirmation that WRR has started their drill program on their excellent Nevada property? Are you planning on doing a update on WRR?
Comment by Jeff — December 3, 2015 @ 6:57 am
No I don’t Jeff—–been too busy to track them down. They did state Dec. 1, but again…their timing hasn’t exactly been spot-on.
Comment by Jon - BMR — December 3, 2015 @ 7:07 am
Gang, I am so sorry, I was tied up this morning. I told ya yesterday I was going to bring you one. It broke out of the pennant flag formation. I could not put it out to you as I was busy at 9:30.
Comment by dave — December 3, 2015 @ 7:08 am
Oh, it was YFI
Comment by dave — December 3, 2015 @ 7:09 am
YFI breaking out on big volume….
Comment by DDD4 — December 3, 2015 @ 7:11 am
GGI – Jon, Regoci said they would drill deeper later …correct? I believe the magnetite is in the “roof” of this system and when we peel it back (via deeper drilling) that’s where the goodies are hiding in my opinion. This is based on what I believe are similar systems elsewhere but I recognize we are only a few holes in. Any thoughts as to if they have or will try to get beneath this layer (however thick it is)? I think we see some good numbers but I am bank on better numbers deeper here.
Cheers
Foz
Comment by Foz1971 — December 3, 2015 @ 7:14 am
Deeper drilling will certainly be necessary, Foz1971, especially if there is evidence of “uplifting” caused by Kaketsa…this could expose different ages of rocks at shallower levels at Grizzly Central…these systems in the district likely have very deep roots…
Comment by Jon - BMR — December 3, 2015 @ 7:29 am
I sold my shares this morning on GGI. Going to wait for assays and will get back in if they’re good.
Comment by Tony T — December 3, 2015 @ 7:43 am
Jon, yes I believe so. Thanks very much.
Comment by Foz1971 — December 3, 2015 @ 7:55 am
Just a general comment about the Venture, Tony…selling anything in the first week of December is typically a losing strategy…this is the time to be scooping up bargains, and there are many of them…you begin by looking at the leaders of the past few months, and where the next strength is likely going to be in the market…when you do sell, it’s best to sell near resistance, not at support…
Comment by Jon - BMR — December 3, 2015 @ 8:15 am
Jon- maybe Tony sold to take advantage of a bigger bargain. Regardless, based on the fairly reliable rumour I heard it was probably a smart move on his behalf to wait for a confirmation of the results. This market is very difficult and unless it’s a glory hole this market allows an easy opportunity to buy on great results without having to pay a huge premium after the news like the good old days.
Comment by DDD4 — December 3, 2015 @ 9:08 am
Interesting, DDD4, did you apply your own advice to EQT or DBV or are you still holding those, with results pending from both? We appreciate every reader’s input here, but your obsession with GGI/DBV comparisons seems rather bizarre.
Comment by Jon - BMR — December 3, 2015 @ 9:18 am
Didn’t have to wait till Friday to top up at 0.145, thanks for that info Jon, that is very very interesting. I think we’ll see an update Friday morn from regoci.
Comment by Tombc — December 3, 2015 @ 9:20 am
GGI If results of holes 1&2 take over a month then hole 4&5 results in january?
And when can we expect DBV results of holes 23,24,25? In spring/summer 2016?
Comment by ConcernedCitizen — December 3, 2015 @ 9:20 am
Markets are very difficult to time. I feel confident holding GGI well past initial assays. Regoci has proven himself over time and will be a great performer….either with assays or a market turn around. Stick with companies that have good management and viable projects and you can weather any downturns.
Comment by weatheritout — December 3, 2015 @ 9:23 am
Oh, and can I also say the U.S. Buck is going to have quite the scab on its nose!!!
Comment by Tombc — December 3, 2015 @ 9:24 am
I no longer own EQT. As for DBV, still holding all as my DD is very solid…..no caution required…
Look forward to seeing GGI results for the first few holes…..if the rumour is wrong I might become a shareholder again.
Comment by DDD4 — December 3, 2015 @ 9:27 am
I sold because I tripled my money, buying has dried up and my scotia technical alerts were telling me to sell. I hope assays are great cause I’ll jump back in but for now I’ll just sit on my cash and wait for results.
Comment by Tony T — December 3, 2015 @ 9:30 am
Fill us in on the rumour you are hearing DDD4 and who your source is ( obviously not name but why they would be considered listening too). We are all here to help each other so we should share info freely. Whenever someone talks of a vague rumour I’m always leary.
Comment by weatheritout — December 3, 2015 @ 9:39 am
Jon- my comparison of dbv and ggi bizarre? I haven’t compared them in a while. I have no association or allegiance to any one stock. I do my DD and put my money were I feel I will make the most money while minimizing risk. I criticize and voice my opinion on both….good or bad. I have been a shareholder of ggi on a few occasions and have made money with it……bought at .06 lows.
I am simply passing on that people take caution with ggi and nowtget caught up in the over excitement of it…..most importantly that people not hold more than they can afford due to the credible rumour I recenlty heard. If I didn’t think it was credible I would have posted anything about it. Like I posted yesterday I hope it’s wrong and people make good money on it.
Comment by DDD4 — December 3, 2015 @ 9:43 am
And that being said…..I don’t want to get into an argument, genuinely asking what rumor your hearing. It has been a long time since a company has rushed assays to a lab. In any case that I have seen this it has had a favorable outcome. Can anyone give an circumstance when a company rushed assays and they came back duds?
Comment by weatheritout — December 3, 2015 @ 9:47 am
DDD4, you mentioned in a previous post about DBV needing to get their act together – have you heard something or is this just your take on whats happening? I am a DBV long and very much interested in what your thoughts are on DBVs current situation. I hope we get some results sooner than mid 2016 as some have suggested.
Comment by Steve A. — December 3, 2015 @ 9:49 am
Weatheritout…..let me ponder about posting publically a bit of the rumour without compromising the source.
I think just about every junior is anxious of getting the first holes from a new promising property in a rushed manner. They need ii asap to help confirm their theories and also help plan future drilling. I never have read much into results being rushed especially on the first holes on a new property.
Comment by DDD4 — December 3, 2015 @ 9:56 am
Steve A- from what I’m hearing there is some planning happening in the background but I will only provide an update once I know it is highly probable that it will be put into action. A lot of talk/planning for a while and little put into action imo.
Comment by DDD4 — December 3, 2015 @ 10:01 am
Jon – to your post # 16 on EQT. It is not taking this long due to the labs. There is another scenario involved thats holding it up.
Lot of arguing going on here, but as I said before, I don’t like holding any stock right before assays come. This has proven to be dangerous.
Comment by dave — December 3, 2015 @ 10:01 am
You can’t blame a man for booking a profit. If your lucky enough to realize a profit in a venture stock, generally u should take it. There will be bargains in Dec for sure but a losing trade for years now has been to invest in the exploration companies. What I am reading/sensing on this board is a group of people that are getting emotionally attached to ggi. Everyday it’s ggi. Same amount of promotion/interest was present when Johnston front rbw was walking around with that rock. What worries me about the she’s lay in particular now is the fact that collectively there has been over to holes drilled and all the companies are selling for pennies. To add salt to the wound, precious metals could be years away from doing anything. Just my two cents. Post if u wish. I always value two sides to a debate. That’s the market.
Comment by seamus — December 3, 2015 @ 10:05 am
Can anyone babe some companies that have rushed assays recently?
Comment by weatheritout — December 3, 2015 @ 10:06 am
Mmmmmm babe…. Meant name lol
Comment by weatheritout — December 3, 2015 @ 10:07 am
I totally agree…you have to hear both sides to be objective. DDD4 should state what rumor he is hearing….not just saying rumor…sounds like a stockhouse post. On stockhouse everyone is hearing rumors but no one backs it up. I want all info I can get to make a valid decision.
Comment by weatheritout — December 3, 2015 @ 10:11 am
DDD4 – did you hear the rumour on GGI from Stockhouse? It isnt very productive to tell us there is a “rumour” without giving us more information. It would be better to just not mention anything about any rumours.
Comment by George — December 3, 2015 @ 10:15 am
Dave – Are you saying that EQT and the labs are arguing about the findings? Is this a guess or…?
Comment by George — December 3, 2015 @ 10:17 am
Dave- re:EQT, are you just speculating regarding another
scenario? I ask this as we know the kitchen is air tight
with EQT, no aromas to give us any hint as to what is cooking??
Also with the lack of exploration per se, when you submit samples
now you are at the front of the line, they have reduced staff, but they
are looking for work.
Comment by Bob — December 3, 2015 @ 10:19 am
Stockhouse rumours are insane and the multiple aliases and bashing make it the worst place….there are some honest credible posters there once you figure them out.
Both side of debate is vital to our collective success as we are all here for one specific reason. My main concern is the over cheering on GGI based on an interview and pictures which is leading to possibly unrealistic expecations. People here are not qualified geologists and are not qualified to interpret the pictures and geology but many are trying to do it.
I would have let this go further but with what I heard it felt is was time for a reality check and a word of caution going foward to ensure expectations are realistic…….once results back up the expecations then let the cheerleaders happen but honestly its not time for it yet…
Comment by DDD4 — December 3, 2015 @ 10:29 am
weatheritout – there numerous examples of rushed assays since 2007. I believe VGD did rush just this year if I am correct. My memory can’t bring back all the rest.
EQT – labs are not fighting over results. No further.
Comment by dave — December 3, 2015 @ 10:38 am
So your main concern is the enthusiasm for GGI and not the rumor you heard. Based on this information I will continue to hold GGI. We all need out reasons to hold a particular stock…My basis for holding GGI is a possible discovery in the making. I’ll wait it out.
Comment by weatheritout — December 3, 2015 @ 10:38 am
Thanks Dave for the example of DBV. Seems like they were more just systematically sending core in….I’ll do dine research and see what other companies I can find. Believe me…I do want to hear pro’s and con’s of any company I invest in…helps with decision making. In the end..it’s only ourselves that have gains or losses. Have a good one all….hopefully assays next week so we can get a better picture
Comment by weatheritout — December 3, 2015 @ 10:50 am
My o my, enuff with the rumour crap, want a good rumour, get on on to the bmr e mail list…..
Comment by Tombc — December 3, 2015 @ 10:53 am
GGI has built a Chinese wall around everything, weatheriout, just as they did with Rodadero…that’s the way they operate, so even I haven’t picked up any “juicy” rumors…there are facts to go with which is the information GGI has released, drill core photos which certainly provide some excellent clues, and of course all the publicly released data from the district over the last 2 years and historically…Regoci has also offered some valuable insights through interviews…given the district drill hole success ratio, and the fact there’s a major fertile pluton adjacent to Grizzly Central, this automatically increases the odds of an important discovery…for all concerned with a stake in the district, let’s hope they hit big…this is not a competition between companies, though some (due to jealousy, pride, ego, attention-seeking, whatever) have unfortunately viewed it that way off and on over the last couple of years…the Sheslay district is a brand by itself, like a national chain with independently operated franchises…each company’s success will strengthen the chain…
Comment by Jon - BMR — December 3, 2015 @ 10:55 am
weatheritout – never mentioned DBV, I mentioned VGD. If I remember right they were seeing visible gold in the boulders. They came up empty. Our late friend Bert was heavily invested in VGD. I expressed to him that I was suspicious of its trading action. Bert sensed danger with that comment from me and sold the next day. I believe it was just a couple days later he passed on. I’m sure his wife was able to get the money saved and not lost. Rip Bert, hope all is well above.
Comment by dave — December 3, 2015 @ 11:09 am
Right sorry…Meant VGD…typing on my phone..message gets screwed up some time. I have a good feeling with GGI…maybe it’s just cramping or gas…but it feels like a good feeling. I have been invested in many resource plays…this is one of the few I will hold through assays.
Comment by weatheritout — December 3, 2015 @ 11:13 am
GGI – There are no guarantees. However, they have the benefit of historical data and following DBV, Prosper and others. In addition, they are clearly informed and aware of key signatures…the fertile pluton, hydrodynamics of fluid flow, structural control (look at the zones of fracturing – faults) etc. Key is how active the faults were during the period of high fluid flow….can’t wait to see the assays on this one. Feeling confident. GGI may have built a “Chinese wall” but in my opinion they have painted it (core pics) with a most beautiful mural.
Comment by Foz1971 — December 3, 2015 @ 11:28 am
#60 continued – mentioned previously on this site is the potential size of the deposit here. Too early to tell but that is what the step-out drilling is for and GGI is assessing this. The harder part to show is continuity of grade – this is what will determine and is most important to the economics of Grizzly Central. So we are looking at the amount of “dilation” i.e., vein density and amount of stockwork/brecciation – as mineral grade is correlated. The pictures, albeit small sections for our consumption, are posted on the site for a reason….
Comment by Foz1971 — December 3, 2015 @ 11:45 am
Weatheritout:
I totally agree with you about GGI, it has nothing to do with any cheer leading by anyone it has to do with what has happened/results so far from DBV and Prosper gold, GGI has had the luxury to sit back and watch both of those companies and they have done a lot of ground work based on the knowledge that they have gained. I’m in the camp that says the entire Sheslay is pregnant and about to give birth and I am planning on holding for the long term as I believe GGI has the goods.. I also believe DBV has the goods, but no money at the time to finish what they started, I also own DBV but not near as much as GGI, GGI has the Mexico properties to fall back on and who knows they could sell Mexico and use those funds to drill the heck out of the Grizzly, Regoci knows how to not dilute a company he has a proven track record there and no one not even DDD4 can dispute that. Management does matter especially in these juniors, just ask Rick Rule or Doug Casey, those two have had a little success in investing in juniors over the years…. ok done with my rant..
Comment by Greg — December 3, 2015 @ 12:09 pm
Dave – are you speculating there is another scenario or do you know something? If you are going to tell us there is something else going on can you be more specific or at least tell us if it’s positive or negative in your opinion? Otherwise we are no better or worse off with that info other than more confused. Thanks.
Comment by George — December 3, 2015 @ 1:44 pm
It is speculation only on my part, positive. I cant post it cause everything with significance of mine winds up on SH. What gets me is this is a paid site so it has to be a member who pays money. I can’t afford to jeopardize my relationship with my people up in Canada anymore. All the money I made this year to get my debt paid down is because of them. I still have a ways to go to get where I need to be. Again, it is speculation, it is not a rumor.
Comment by dave — December 3, 2015 @ 5:23 pm