Gold has traded between $1,062 and $1,080 so far today…as of 9:45 am Pacific, bullion is up $4 an ounce at $1,075…Silver has slipped 21 cents to $13.89…Copper, bucking the trend in metals today, has jumped a nickel to $2.13…Crude Oil is under pressure again, down more than $1 a barrel to $35.63 as supply concerns continue to dominate, while the U.S. Dollar Index has fallen more than one-third of a point to 97.52…breach of support at 98 on a closing basis today could be significant from a technical perspective…
A gauge of U.S. consumer spending rose solidly in November as the Christmas shopping season got off to a fairly brisk start, suggesting enough momentum in the economy for the Federal Reserve to raise interest rates next week for the first time in nearly a decade…the Commerce Department reported this morning that retail sales excluding automobiles, gasoline, building materials and food services increased 0.6% (vs. a consensus estimate of 0.4%) after an unrevised 0.2% gain in October…these so-called core retail sales correspond most closely with the consumer spending component of GDP…
Meanwhile, the Labor Department said today that its producer price index advanced a more-than-expected 0.3% after falling 0.4% in October…on a “bigger picture” annual basis, though, deflationary pressures remain…in the 12 months through November, the PPI declined 1.1% after sliding 1.6% in October…November marked the 10th straight 12-month decrease in the index, though that’s better than China’s performance…
Crude Oil Update
Crude Oil prices hit fresh multi-year lows this morning as the International Energy Agency (IEA) warned global oversupply could worsen during 2016…prices have tumbled this month after OPEC failed to impose a ceiling on output…OPEC producers pumped more Oil in November than in any month since late 2008, some 31.7 million barrels per day as the Saudis in particular push for market share…
“Consumption is likely to have peaked in the 3rd quarter and demand growth is expected to slow to a still-healthy 1.2 million bpd in 2016, as support from sharply falling Oil prices begins to fade,” the IEA said in its monthly report…
In today’s Morning Musings…
1. Pending U.S. Dollar Index breakdown as “Fed Day” approaches?…
2. The “Kaketsa Corridor” and the “Rodadero Ring of Fire”…
3. Developments on the ground match well with bullish updated chart for Walker River Resources (WRR, TSX-V)…
4. Oops…another CEO in China goes “missing”…
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…
WRR-Jon do you talk with Michel David recently ?
Comment by Guy Delisle — December 11, 2015 @ 10:33 am
No, I haven’t spoken with Michel recently, Guy. Have you?
Comment by Jon - BMR — December 11, 2015 @ 10:40 am
from what ive been hearing and reading,we should be cheering janet yellen on to raise rates,the us buck will go down,and in turn gold should go up.GGI-hope will get some results befour christmas?..but take a minute on this one,searched hi and low,and dont see a company that has not one, but two assay results pending,nor do i see a company drilling on not one, but two propertys,should draw more attention in the days ahead,wont be long now,be patient….
Comment by tombc — December 11, 2015 @ 10:49 am
Michel takes his messages and recall from Nevada, yes I talk with him last week !
Comment by Guy Delisle — December 11, 2015 @ 10:52 am
Guy/Jon…I’ve left Michale 2 voicemails this past week without a callback. He must be camped out on the property watching the drills turn!!
Comment by Jeff — December 11, 2015 @ 10:54 am
WRR- Yes Michel is on the property since November 30 !
Comment by Guy Delisle — December 11, 2015 @ 11:19 am
CRS and EXX….probably will see some volatility next week.
Comment by John - BMR — December 11, 2015 @ 11:24 am
John – you will see some major volatility from CRS, and EQT,ELT next week. It’s going to be a pick your poison kind of week.
Comment by dave — December 11, 2015 @ 11:31 am
Oh, I am not saying its going to happen, but it would not surprise me to see one of the 3 mentioned above halted post market close.
Comment by dave — December 11, 2015 @ 11:44 am
V.CDB is holding steady and there may be a push higher towards the market close.
In the meantime, Helio Resource Corp (V.HRC) last @.025. Only 355K shares (currently) available up to the .06 level. In Tanzania and Namibia but I believe they may come back from these levels of the past few years. (I own shares).
Comment by Andrew — December 11, 2015 @ 11:51 am
The time to buy CDB was at .11 a week or so ago. Kinda chasing it now.
Comment by dave — December 11, 2015 @ 12:26 pm
Jon, why do you think Regoci did not commented on hole 5 like he did with previous hole?
Have a nice week-end!
Comment by Martin — December 11, 2015 @ 4:47 pm
One possibility, Martin, is that he could be “saving” that one as a surprise. This news was a little different, focusing more on the broad picture, and was less technical in nature. A deliberate strategy on Regoci’s part, I suspect. If you look at the last core photo, specifically from hole 5, it does look encouraging.
My interpretation, and that of several geos we’ve spoken to, is that there are 2 systems at Grizzly Central, and that we’ll see something new in the district here.
Comment by Jon - BMR — December 11, 2015 @ 11:24 pm
Jon, I’m guessing that GGI will drill 2 more holes before Christmas and then shut down until January. This will use up the FT funding. My next guess is that they will do a financing after results of the first 5 holes are announced. Did Regoci mention anything regarding drilling campaign and financing?
Comment by Tom UK — December 12, 2015 @ 2:56 am
I know you said he was tight lipped. but did he give anything away on La Patilla? Have they started production?
Comment by Tom UK — December 12, 2015 @ 3:58 am
Agreed Dave on V.CDB at this point. I don’t chase any stock and for Cordoba, I already have my limit. (Fortunately, at much lower levels).
Comment by Andrew — December 12, 2015 @ 4:54 am
when Regoci speaks of the market needing to make a big find do u think he is giving us a hint that we may not have to look very far?
Comment by Ivan — December 12, 2015 @ 7:30 am
The problem with things you hear is believing them, even from CEO’s and that goes for Kyler too. I think that I have heard it all in my 25 years of being around this. I have only known one guy to be right in that time and he is now in jail. Even friends be-friend people in this business. It’s a game for sure, but its played with real money. I have heard so many CEO’s say our stock is going to a dollar and they are no where to be found today. Even BMR has come across them as we know. The vulture exchange is just waiting to take your money. This is why I trade off of charts and TA and I don’t play long term, at least on the venture.
there are not a lot of companies doing much of anything right now and BMR has uncovered some. We don’t know what Regoci saw with his xrf analyzer, but we sure do need a major discovery. Lets hope it was accurate and the assays come back a whopper. We need what we are seeing in those cores to deliver something spectacular.
Comment by dave — December 12, 2015 @ 10:07 am
Dave – are you aware of a blackout on EQT as I don’t any insiders buying or selling.
Your thoughts?
Comment by Jeff — December 12, 2015 @ 10:58 am
Those are good points I would agree with, Dave – all the more reason it’s critical to look at track records, and understand – in the case of exploration companies – the geological environment a company’s project(s) is in. Are they drilling into a big unknown, or are they in the midst of a proven regional/local area that gives the investor a reasonable chance at something spectacular? And today’s effective CEO in the junior resource sector must be able to communicate powerfully and deliver on the ground at the same time. Some are good at one or the other. Only a select bunch can excel at both.
Comment by Jon - BMR — December 12, 2015 @ 11:02 am
Jeff – Yes, I am aware of the blackout. If you call, you will be diverted to someone at Zitmu.
Comment by dave — December 12, 2015 @ 2:55 pm