Gold has traded between $1,077 and $1,096 so far today…as of 10:00 am Pacific, bullion is down $15 an ounce at $1,078…the $1,080 support really needs to hold on a closing basis this week…Silver is off 33 cents at $13.82…Copper is flat at $1.99…Crude Oil is 70 cents higher at $31.20 while the U.S. Dollar Index has added one-fifth of a point to 99.02…
Indonesia says ISIS was behind an attack by suicide bombers and gunmen in the heart of Jakarta yesterday that brought the Islamist terrorist group’s violence to the world’s most populous Muslim country for the first time…just 7 people were killed despite multiple blasts and a gunfight, and 5 of them were the attackers themselves (1 of the 2 innocent civilians killed was a Canadian), but the brazenness of their siege suggested a new brand of militancy by ISIS…
Emerging market Gold demand appears to be strong around the $1,080 level and should help set a price floor going forward, according to analysts at HSBC…the bank says the value of Gold as a “portfolio diversifier remains intact” amid recent financial market uncertainty. “This should generate enough buying to support prices,” HSBC says. The bank then continues, “Prices may also be bolstered by EM demand. We detect resurgent physical demand when the Gold market treads around $1,080.”
If some Federal Reserve officials are having second thoughts about the extent of further interest rate hikes this year, due to low Oil prices and global economic weakness, Gold stands to benefit, according to Commerzbank. “The U.S. Federal Reserve presidents in Boston and Chicago, (Eric) Rosengren and (Charles) Evans, expressed concern about global economic growth yesterday, saying that the turmoil on China’s equity markets, the weak Oil prices and other factors could significantly slow economic growth,” Commerzbank stated. “Consequently, both are skeptical about any further Fed rate hike.” Additionally, former U.S. Secretary of the Treasury Lawrence Summers expressed reservations about Fed interest rate increases, Commerzbank adds. “If such opinions prevail in the U.S. Fed’s decision-making body and the Fed does indeed decide not to raise interest rates by as much – we expect three rate hikes this year – this would have a positive impact on the Gold price, in our opinion.”
This morning, St. Louis Fed President James Bullard – a voting member of the central bank’s policymaking committee – said in a speech that the recent movement in Oil prices has been “very substantial” and that U.S. inflation expectations are “falling”…there’s no question that Fed officials have been caught off guard by the intensity of the Oil price decline – how is that possible given all the forecasting tools they have?…this puts into question several Fed assumptions including the possibility of further interest rate hikes this year…
In today’s Morning Musings…
1. A profitable Venture company – Biorem (BRM, TSX-V) – benefiting from the low Canadian dollar with other factors in its favor as well…
2. Lion One Metals’ (LIO, TSX-V) high-grade, low cap-ex Gold project in the South Pacific Ring of Fire…
3. Updated chart for the Dow – the key support level it must hold…
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…
Conference Call Highlights for T.NHC-
Summary:
1. The CEO said the company will be announcing a repurchase of shares in the near future. The buyback has been approved by the Board of Directors, but the legal details are being worked out.
2. The CEO said results for the full year in 2015 will be strong. The CFO echoed that, and said results will be +/- 5% of the guidance provided for 2015.
3. Nobilis will issue a prerelease of Q4 2015 results on January 20. Official earnings for 2015 will be released in March.
4. A number of attractive M&A deals are in active discussion, and the company expects to close at least some of them in Q1 2016. At the current stock price, the company will not dilute shareholders but will finance the acquisitions with cash on hand and debt available from banks.
5. There are no more changes in senior management planned.
The tone of the call was very positive. The CFO directly addressed the issues involved in restating prior earnings reports, and the CEO and CFO gave straight answers to the questions asked by analysts.
Read more at stockhouse.com/companies/bullboard/bullboard/t.nhc/nobilis-health-corp#58b5Gegvywrbwf3v.99
Comment by robinandthe7hoods — January 14, 2016 @ 11:47 am
GGI – CMON, release some news. and make it good!
Comment by 02charoc — January 14, 2016 @ 11:55 am
How much better can a CC get and still this market punishes you.They are looking at 5 acquisitions for 2016 with at least one coming in Q1.
Look at the TSXV.The biggest volume stocks all lose money.99% of them anyway.There are no winners.Iran is set to start adding 700,000 b/d to the oil glut.The Loonie is pinpointed to hit $0.59 this year.The lowest ever.Mining is in terrible shape.Something has to give.
I think I’ll keep my NHC shares as they are trading on the NYSE,The business is situated in the US.and all profits come in US dollars.
At some stage the shorts will cover,and this craziness will disappear.The analysts have a $10-12 price target,so I’ll just ride this little mishap out.You can’t keep a good man down.
Comment by robinandthe7hoods — January 14, 2016 @ 11:58 am
From another board on T.NHC-
A possible reason for today’s downturn…
‘This is just a guess, but option expiration is tomorrow and the open interest for the $2.50 calls is around 700. Quite possible that someone wants those to expire worthless.
Could also be that some traders who bought on the last dip are taking profits’
What is the US price at right now?….$2.49.
We’ll see Monday if there’s a big turnaround in the stock if this was the reason.
Comment by robinandthe7hoods — January 14, 2016 @ 12:15 pm
Earlier in the day the CDNX hit a low of 490 and then endied the day at 495.37 producing a hammer candle which is a good indication a bottom for the index.
Comment by Les — January 14, 2016 @ 1:07 pm
check this out.. Jay Taylor provides 10x share price target on high-growth technology scenario on DynaCert inc DYA.V
Comment by kelly — January 14, 2016 @ 1:08 pm
Thx Robin.. the tone of the comments on SH were mostly positive regarding the CC.. some said a buyback was a sign that not all is good… not sure how that would be… but…
this market is just garbage… the investor tone is depressing (including myself), and there is no end in sight
with the gold market broken perhaps beyond repair, you would think that a stock in healthcare for old geezers (like me:)) would be in some favor… nope not a chance
sorry I bought into it… the only reason things go down.. I have that talent!!
Comment by Jeremy — January 14, 2016 @ 1:34 pm
If good news, NOT till next week! (if at all) Remember pre-Christmas script.
Comment by Barry_R — January 14, 2016 @ 1:48 pm
OOO – That is a lot of gold at a very good depth, and it only moved up .02.- I don’t think we are even expecting GGI to come in with that high of numbers. That is a lot of gold – huge.
Comment by dave — January 14, 2016 @ 2:12 pm
GGI should check this out for the future…
Actlabs is now offering 1 week regular turnaround
for Gold Analysis in Ontario and Manitoba.
24 Hour and 48 Hour Rush Services are available.
Actlabs has 6 full laboratories across Ontario where analysis can be done locally. These facilities include: Dryden, Thunder Bay, Geraldton, Timmins, Sudbury, and Ancaster.
Program sign-up is required to take advantage of this fast turnaround service. Please contact Ryan Mackie, Regional Manager of Northern Ontario for details,
E-mail:[email protected]
Comment by robinandthe7hoods — January 14, 2016 @ 2:34 pm
Robin – I’m sure there is more detail that we don’t know about this 1 weeks turnaround time. What does regular turnaround mean? How accurate? How reliable? Quantity? Has the lab been doing more to verify something.
Comment by George — January 14, 2016 @ 4:01 pm
Interesting Robin. I’m willing to bet that any company wanting prompt results can get it done at any number of labs but a speedy turnaround on assays don’t seem to factor into ggi’s gameplan.
Comment by Treb — January 14, 2016 @ 4:48 pm
Otis has been working that property since 2008. For whatever reason the market doesn’t seem overly excited about it. Definitely not a new discovery. They do look like they could be gaining some traction though. Very hard to predict the markets with any certainty
Comment by weatheritout — January 14, 2016 @ 5:07 pm
Equitas Resources Corp. (TSXv: EQT EQTRF)
(FSE: T6UN) is pleased to announce that its entered into a letter of agreement to acquire 100% of the privately-held Alto Vista Gold , This would put EQT in a small scale cash-flow position with a bountiful of opportunity in Brazil as well as the the weather permits on the Garland,
Comment by bob — January 15, 2016 @ 2:43 am
News is finally out on V.EQT.
Equitas Resources Corp. Enters Agreement to Acquire Alta Floresta Gold Ltd.
VANCOUVER, Jan.15, 2016 /CNW/ – Equitas Resources Corp. (TSXv: EQT) (FSE: T6UN) (US: EQTRF) (“Equitas” or the “Company”) is pleased to announce that it has entered into a binding letter agreement dated effective January 6, 2016 to acquire (the “Transaction”) all of the issued and outstanding securities of Alta Floresta Gold Ltd. (“Alta Floresta Gold”).
Read the rest of the news release here:
newswire.ca/news-releases/equitas-resources-corp-enters-agreement-to-acquire-alta-floresta-gold-ltd-565393921.html
Comment by Andrew — January 15, 2016 @ 2:46 am
Otis shot up from 0.15 in 2008 to 0.80 in 2009. Stellar results but why are we comparing a 7 year old discovery to a possible new discovery (GGI)?
Comment by ConcernedCitizen — January 15, 2016 @ 3:02 am
Equitas Resources Corp. Enters Agreement to Acquire Alta Flo
January 15, 2016 – 3:02 AM EST
Equitas Resources Corp. Enters Agreement to Acquire Alta Floresta Gold Ltd.
Equitas Resources Corp. Enters Agreement to Acquire Alta Floresta Gold Ltd.
Canada NewsWire
VANCOUVER, Jan.15, 2016
VANCOUVER, Jan.15, 2016 /CNW/ – Equitas Resources Corp. (TSXv: EQT) (FSE: T6UN) (US: EQTRF) (“Equitas” or the “Company”) is pleased to announce that it has entered into a binding letter agreement dated effective January 6, 2016 to acquire (the “Transaction”) all of the issued and outstanding securities of Alta Floresta Gold Ltd. (“Alta Floresta Gold”).
Alta Floresta Gold is a private British Columbia company which holds approximately 60% of Alta Floresta Gold Minerao Ltd. (“Alta Floresta Minerao”). Alta Floresta Minerao holds six gold properties, and four production licences, over 184,410 hectares of land in the Mato Grosso, and Para states of the Federative Republic of Brazil. Licence areas are highly prospective, with previous artisanal mining activity. Alta Floresta Minerao is focused on expanding the production activities and defining additional gold resources at its Cajueiro Project (the “Cajueiro Project”).
“In Alta Floresta Gold, we have identified an excellent opportunity that will allow us to leverage its current small scale, low cost, gold production into a much larger operation in the near future.” stated Kyler Hardy, President and Director of Equitas. “By incorporating the highly skilled senior management team of Alta Floresta Gold into Equitas, we gain an experienced South American operating team that will advance the Cajueiro Project. Following closing of the transaction, Equitas will be a stronger company with quality gold and nickel assets as well as cash flow. This transaction is in line with our corporate strategy to acquire exceptional property holdings in highly prospective and proven districts. Equitas will also continue an aggressive exploration program on its highly prospective Garland nickel property in the Voisey’s Bay district in Labrador, Canada.”
“We are very pleased to finalise this letter agreement with Equitas, commented Chris Harris, Executive Chairman & Director of Alta Floresta Gold. “This transaction underlines the core value of the Alta Floresta portfolio and especially of our fast-track gold development target at Cajueiro which is already in production. With the depth of our combined management team, we stand poised to create strong value for shareholders as well as to bring employment and business to Brazil. We intend to build on our in-house portfolio development pipeline, by acquiring selected value accretive neighbouring gold resources in Brazil to build a strong, cash flow generating gold junior with attractive growth prospects.”
The Cajueiro Project
The Cajueiro Project encompasses 44,768 hectares and is located 95 kilometers north of the city of Alta Floresta in the Federative Republic of Brazil. The project straddles the border of the Para and Mato Grosso states in the prolific Juruena Belt of Brazil.
To date, 48 drill holes for a total of 11,292 metres have tested four zones: Marines, Baldo, Matrincha, and Crente. At the Crente zone, the work has outlined an indicated and an inferred resource, while inferred resources were calculated for the Marines, Baldo and Matrincha zones. All of these zones have near surface oxide potential expansion. Exploration over the last five years has identified five further anomalies within the property package that have similar surface expression to the Crente target.
A resource estimate was prepared by Gustavson Associates of Boulder, Colorado in accordance with the definitions in the National Instrument 43-101 (“NI 43-101”) in a report titled “NI 43-101 Technical Report on Resources, Cajueiro Project States of Mato Grosso and Para, Brazil effective March 22, 2013.
An updated NI 43-101 Technical Report is being prepared for Equitas and will be filed on sedar.com within the time periods required under NI 43-101 and will be available on the Company’s website.
The details of the NI 43-101 Technical Report are summarized below:
Table 1. Indicated and Inferred Resources at Crente zone.
Indicated Resources Inferred Resources
Cut off Grade
(g/t) Tonnes
(000s) Gold
(g/t) Contained Oz Au (000s) Cut off Grade
(g/t) Tonnes
(000s) Gold
(g/t) Contained Oz Au (000s)
0.5 4,529 1.2 168.0 0.5 3.025 1.0 100.3
0.3 7,400 0.9 203.0 0.3 5,261 0.8 127.4Table 2. Inferred Resources at Baldo, Matrincha and Marines zones.
Inferred Resources
Zone Cut off Grade
(g/t) Tonnes
(000s) Gold
(g/t) Contained Oz Au
(000s)
Baldo 0.3 1,411 1.3 61.1
Matrincha 0.3 1,565 1.1 52.9
Marines 0.3 1,167 0.7 27.2 Oz Au = Gold-equivalent ounces.
All quantities are rounded to the appropriate number of significant figures; consequently sums may not add up due to rounding. All resources reported above for the Baldo, Matrincha and Marines zones are inferred resources. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves.
Alta Floresta Gold started processing alluvial gold mineralization in the Baldo zone in June 2015 with modest gold production to date.
Equitas Resources intends to embark on a three phase development plan at the Cajueiro Property. First, the Company plans to install a small gravity plant to process the saprolite mineralization at the Baldo zone.
Once permits and the necessary supply agreements are in hand, the second phase of the plan envisions the construction of a carbon-in-leach plant between the Baldo and Crente zones. These two zones are less than 1 km apart. Initial metallurgical test work indicates that in excess of 85% gold recovery can be achieved through gravity separation and cyanide leaching.
The third phase would be to increase production at the Cajueiro Project under a full production licence. The Company expects that this could be funded through operating cash flow.
Everett F. Makela, P. Geo., VP Exploration for Equitas Resources Corp., a Qualified Person as defined by National Instrument 43-101, has approved disclosure of the technical information in this news release.
Read more at stockhouse.com/companies/bullboard/bullboard/v.eqt/equitas-resources-corp#Smr2t7kc7de2O2iE.99
Comment by bob — January 15, 2016 @ 3:19 am
Interesting (major) deal for EQT with a private company (for shares only). Ramped up low cost production in Brazil with the Cajueiro Project (45 sq. km ) featuring indicated resources of 200,000 ounces and inferred resources of more than 250,000 ounces from 4 zones (1 zone currently in modest production). Appears it can be easily scaled up with a cost-effective 3-phase approach. Plenty of exploration upside with this project, plus another 135+ sq. km elsewhere. Puts EQT in a whole new category as company builds as a small producer while actually enhancing its exploration blue sky potential with this, added to Garland. If they handle it well, should be extremely positive for EQT. Great time in the cycle to acquire an asset like this – builds for the future. Would have been an expensive deal a few years ago or a few years from now.
Comment by Jon - BMR — January 15, 2016 @ 4:15 am
Agreed Jon, so far level 2 has not changed since the release, but we are an hour and a half from the open.
Comment by dave — January 15, 2016 @ 5:02 am
CC – Why compare an old discovery to GGI. Well, back then the market was coming out of its worst time in years with the housing bubble behind it and the market tumbled to nothing. Money was flowing into the market left and right and gold was in a better position then. That is not the case today. So GGI will need a blockbuster discovery to get this market turned around. It will have to echo all through Canada and the U.S. Lets see what they come up with.
Comment by dave — January 15, 2016 @ 5:16 am
Interesting day coming up. Gold with a big reversal from yesterday. Dow’s in trouble on a close below 16150 as per John’s chart yesterday as that long-term uptrend line would be violated. Fed is screwed, Gold has the potential to really take off.
Comment by Jon - BMR — January 15, 2016 @ 5:33 am
Interesting indeed Jon, maybe my rant the other day helped, hope so!
Comment by Tombc — January 15, 2016 @ 5:45 am
9 am and level 2 has not changed on EQT. Something tells me the market is not impressed.
Comment by dave — January 15, 2016 @ 5:59 am
Patient, Dave. Few people have even seen this yet, or even digested it for that matter. Give it a few trading days, actually. Gold is going up and EQT has moved into the category of small producer that can become cash flow positive from this very quickly.
Comment by BMR — January 15, 2016 @ 6:15 am
I hear ya BMR. But my patient buttons are broke. Need money for Ecuador.
Comment by dave — January 15, 2016 @ 6:19 am
The timing on this for EQT perhaps couldn’t be better, given what Gold appears to be up to. But keep in mind, there’s also the issue of the free-trading FT stock, and that’s coming into the market now.
Comment by Jon - BMR — January 15, 2016 @ 6:22 am
EQT- Tremendous acquisition.
rockstone-research.com/images/PDF/Equitas9en.pdf
Comment by murf — January 15, 2016 @ 6:25 am
That is what worries me Jon.
Jeremy – grab your ticket. My lady friend has found me an apartment for the month of Feb. $300, in Manta.
Comment by dave — January 15, 2016 @ 6:30 am
Dave – man you must have some high maintenance gals:) LOL.. no disrespect meant .. again..:) you dont drink so why the dough?? thus my comment:)
trying to keep it light!!!! heard of a good friend who lost his job in oil and NG engineering.. no projects=no work… its all starting to filter down..
BTW – tech play .. Route1 Inc.. roi.v … just got an ATO for the US department of the interior.. coould double their subscriber base.. great technology .. McWhirter is a big supporter..
route1.com…
Comment by Jeremy — January 15, 2016 @ 6:32 am
EQT- ugly reaction….
Comment by johnz — January 15, 2016 @ 6:34 am
phm.. nhc.. taking it on the chin… logic and facts dont seem to mattter anymore…
Comment by Jeremy — January 15, 2016 @ 6:39 am
It is a smart acquisition, Murf, and will get reflected as such in the market but that free-trading PP stock needs to be cleaned up.
Comment by Jon - BMR — January 15, 2016 @ 6:41 am
Dave – wish I could mate… wishing you the best time tho… forget this madness that is the markets and Wall Street scum sucking giant squids…
send pix:)
Comment by Jeremy — January 15, 2016 @ 6:42 am
Jeremy – dough is to cover all monies from the trip spent. $600 air, $300 room, $200 food (yes, that is for the whole month), and I have been known to tip the bottle when I travel. as for the ladies, well gotta let your imagination run there. ROI looks good, especially if it breaks .06
Comment by dave — January 15, 2016 @ 6:45 am
ANyone – is NHC’s south sucking share price have anything to do with the general Nazz malaise???
Comment by Jeremy — January 15, 2016 @ 6:46 am
EQT – has to raise $2.5Mm and fork over shrs, how many not disclosed as far as I can read. and then hand over a whack of options to replace the ones the privco had and on best efforts, make sure they own the property 100% (excluding the NSR that comes into play as they dilute down the landowners share position, if I read it right)
Comment by david — January 15, 2016 @ 6:48 am
Dave – have you determined which contact person you are going to take behind the barn and shoot?
Comment by George — January 15, 2016 @ 6:54 am
DAve – nice work if you can get it:) and I have no imagination right now.. very numb!!! 1000 bucks for a month… like wow… will have to keep that in the hopper for retirement trips .. if I ever get there..:)
very cool man.. very cool!
Comment by Jeremy — January 15, 2016 @ 6:56 am
I may be starting to sound like Jon,Jeremy,but patience is needed here.We see the numbers,and they are about to improve Quarter over Quarter by a huge margin and still the overall market is trying to push the stock down.
It can’t last.Next week should begin the turnaround,imo.This is Friday on top of a bad day and a bad week in the markets.Saying that,it takes either nerve or stupidity to hold in this market.
I’ll be shutting off my computer because I don’t want to make any bad decisions on a Friday of all days.
I have nothing but faith in where this company is going,and it won’t be $3.20 for long.
Big Q4 numbers next week.Big 2016 guidance next week I’m expecting and an acquisition any time that will boost the numbers again within two Quarters.
Comment by robinandthe7hoods — January 15, 2016 @ 7:05 am
George – yes I have. And it is the one that I never felt was reliable. Not surprised here. I can share now that he was saying a merger with ELT. My other guy was dead on.
Jeremy – been studying retirement places since 07, you can live in Ecuador for $1,000 a month like a king. Many U.S. and canadians expats there.
Comment by dave — January 15, 2016 @ 7:13 am
EQT – looking at level 2, it looks kinda range bound here today. No big breakout.
Jeremy – pop that next bottle, 1.7 mil shares just showed up on the offer on ROI at .05
Comment by dave — January 15, 2016 @ 7:15 am
robinhood robinhood where are you. Don’t turn off your computer, NHC is .10 higher. But if it drops again, 2.90 is a triple bottom. Very strong TA indicator for breakout.
Comment by dave — January 15, 2016 @ 7:21 am
EQT – not worthy of a halt in my opinion. Only reason for the halt was to stop the trading on speculation leading up to the deal to prevent the share price from wild trading swings.
Comment by Dan1 — January 15, 2016 @ 7:30 am
NHC – that thing is volitile, definitely can make ya pop that bottle.
Comment by dave — January 15, 2016 @ 7:36 am
Yellen and her puppets to chew on this cow patty, Walmart to close 269 stores worldwide, none in Canada and mostly in the US. Get used to the word, backtrack!
Comment by Tombc — January 15, 2016 @ 7:42 am
Robin – understood mate… there is no logical or reasonable explanation for much of what is going on here.. the balance sheet tells all… they are in no way chance of heck of going byebye.. only expanding.. its just my knack of buying and then dropping 25% same day… my talent!!
Dave – thx for that… sounds like a great place too…
Comment by Jeremy — January 15, 2016 @ 7:43 am
Dan1, it wasn’t a question of requesting a halt, I’m sure…such an involved transaction (taking over a private company) almost ensures a stop sign from the Exchange as it falls under the category of a reviewable transaction, and the authorities would want to be satisfied with the language in the NR…there was probably a lot of back-and-forth on this between the company and the regulators, which explains the length of the halt…this isn’t China…the Exchange does NOT let companies play games with trading halts…
On the issue of the free-trading stock (mostly FT), that’s clearly a market challenge for EQT and it’s something we warned about…it needs to be cleaned up, as simple as that, and it’s not going to happen overnight with that number of shares…
This is a company-building move on the part of EQT that has a chance to work out extremely well—especially if Gold prices trend higher…would have preferred a high-grade Gold situation but these grades are workable given other factors…the drop in the value of the Brazilian currency has also lowered costs in that country relative to the U.S. dollar…EQT is operating in a district where the amount of Gold produced historically is phenomenal…numerous advantages to this but how the stock is trading this morning is really disconnected to the news given the anomaly of the flow-through paper that has come into the market…
Comment by Jon - BMR — January 15, 2016 @ 7:46 am
Robin – GEM.V, that’s the only stock to own now. And GGI
Comment by George — January 15, 2016 @ 7:59 am
Tombc – Thanks for your post #46. I started hearing last fall that we could slip back to 2008 a bit as far as jobs and the economy. Some are saying the housing market here is just in a little upswing and we could start to see a lot more bankruptcies in 2016. Makes ya wonder for sure. Selling my house was a move I don’t regret. I am thankful that I am in a position to do what is needed to survive with my limited pension for now.
Comment by dave — January 15, 2016 @ 8:00 am
Been following ROI for several years. Excellent technology but a huge float with over 360million shares not to mention options or warrants.
Comment by Jamie — January 15, 2016 @ 8:04 am
Here is another bit of P.R. on the V.EQT deal.
kereport.com/2016/01/15/equitas-resources-acquiring-producing-miner-brazil/
Comment by Andrew — January 15, 2016 @ 8:17 am
looks like .065 coming on EQT
Comment by dave — January 15, 2016 @ 8:24 am
George – The only 2 stocks to own out of some 4,000 on the Venture. Would that be because your in them by some chance!
Comment by dave — January 15, 2016 @ 8:28 am
GGI – time for Regoci to throw us a bone. Maybe some new pics over the weekend of the Grizzly and maybe even some from Rodadero. I am sure they have a few drill core pulled at Rodadero by now.
Comment by Dan1 — January 15, 2016 @ 8:52 am
GGI – This stock is killing me. im getting destroyed here.
Comment by George — January 15, 2016 @ 8:57 am
Take a look at the overall market, George. Dow down 400 points. Venture at new low. Just about everything is weak except Gold producers which are an island of safety right now. One of GGI’s advantages is that it has a major trump card to play, so don’t worry about GGI, or a drop on miniscule volume.
Comment by Jon - BMR — January 15, 2016 @ 9:03 am
Dave – You are right it is because I own them. Sound familiar? How about EQT paying those dividends?
Comment by George — January 15, 2016 @ 9:21 am
BMR – I understand that the overall market is a disaster right now and that GGI has been going down on light volume. We still have major news to come. I am just frustrated but holding on. I was following advice and accumulating at higher levels. I still believe in the story.
Dave – There are obviously many fabulous stocks to own in the market not just the 2 I mentioned.
Comment by George — January 15, 2016 @ 9:24 am
there is no reason to buy.. cause its all going into the dumper.. nothing will survive.. look at alll the goos news and stocks drop.. all the reason to get out of everything..
last one turn out the lights..
saw a blurb on BNN re the venture… they are closer to going boom than we think…
this is more than your 100 year flood folks..
Check out Norway .. at 8$ per bbl production cost they are in crisis mode.. what does that mean for the rest of us…
a nuclear winter.. thats what… Dave make sure that place has lots of bedrooms…
hows that for glass half empty…???
Comment by Jeremy — January 15, 2016 @ 9:25 am
Oops , CDNX just took another step down along with all the world markets as all the QE by central bankers in the world will not alter long term economic cycles. The gold to commodity ratio will continue to improve for gold , making gold producers the best performers during this monetary contraction part of the cycle. History repeats.
Comment by Les — January 15, 2016 @ 9:31 am
Next Fib support is 470 – expect that to be tested, Les, but these times are always when incredible opportunities open up. Be greedy when others are fearful, be fearful when others are greedy, as the saying goes.
Comment by Jon - BMR — January 15, 2016 @ 9:46 am
Jon ggi has been ‘dropping’ in both price and volume since it’s peak around mid November. This isn’t a blip caused by overall market uncertainty. To get back to previous highs ggi would have to increase 50% from today’s price.
You guys were calling ggi an “immediate actionable buy between 14 and 16 cents” weeks ago. If your subscribers are worried then it’s certainly warranted given bmr’s enthusiastic pumping of the play for months.
Comment by Treb — January 15, 2016 @ 9:52 am
It’s off a bit, for sure, Treb – not surprising given the turbulent markets of the first half of January – but we made that call because we anticipate a discovery at Grizzly Central and that hasn’t changed whatsoever…volatility is a fact of life, especially in the current market environment…
Comment by Jon - BMR — January 15, 2016 @ 10:00 am
FWIW if its on BNN, its a day late IMO. While the TSXV is down its only half as bad as the big bd. whats left of the TSXV still needs to shake out the companies that have $100K in cash , no real properties and some weasels collecting chqs. What will happen is the weasels will drop their TSXV listings, to the lessor fee+rules NEX exchange, which doesn’t really solve the problem. Prem Watsa has had shorts on China for almost a yr, and now they are coming to fruition I guess. Short Hedge funds are loving this mess.
Comment by david — January 15, 2016 @ 10:03 am
George – you are right my friend, EQT is a downer also and you know I own it. I have to disagree on many good stocks to own on the venture though. It’s the pits right now.
jeremy – it is a 3 bedroom. Come my friend and enjoy. The seafood and fruits are to die for, and the specialty drinks like margaritas.
Comment by dave — January 15, 2016 @ 10:06 am
As frustrated as I am about GGI’s timeline, I do appreciate BMR’s research and finding this little gem. I am still holding long and am eagerly anticipating assays. What affect will it have on share price…..in these markets it is anyone’s guess. As far as juniors go….GGI does have a lot going for them and in hindsight…the $800000 financing was a good move. There is definitely blood in the streets and at times like this you have to take emotion out of the equation. If nothing has changed in regards to why you purchased a stock … hang on to it. If the reason you bought it is no longer valid….sell it. Hang tight everyone.
Comment by weatheritout — January 15, 2016 @ 10:11 am
All that matters is how the market perceives a potential discovery that ggi ‘might’ make. Given the state of the venture and more recently the markets in general are you at all concerned that anything mediocre will be ignored? It seems there’s little appetite for exploration and mining plays when commodities can’t find a bottom.
On another note and I know, I’ve harped on this before…any idea when the Regoci video interview might be ready for viewing? Thanks.
Comment by Treb — January 15, 2016 @ 10:14 am
Look at that Loonie dropping, yesus co hanie.
Comment by dave — January 15, 2016 @ 10:15 am
The drop in the loonie just keeps driving Gold up even higher in CDN dollars which makes the Canadian producers even more favorable, Dave…with the current political set-up, along with Oil likely needing to go lower, a 60-cent loonie is a distinct possibility…
Comment by Jon - BMR — January 15, 2016 @ 10:26 am
Wait, why does oil LIKELY need to go lower?
Comment by dave — January 15, 2016 @ 10:32 am
Treb – find Jeremy, maybe he has some left in that bottle. All we have left is humor gang, markets can’t take that away from us.
Comment by dave — January 15, 2016 @ 10:34 am
Why, Dave? Importantly, supply and demand must come into balance. There is still a huge glut of Oil on the market, and the Saudis and their Gulf allies don’t care. They’re digging in for an extended period of low prices (they’ve encouraged the dive in Oil prices) for several key reasons: To hurt arch-rival Iran, to hurt North American shale producers, to increase their own market share, and to do some damage to the climate change (alternative energy) movement – the world is going to get addicted to cheap Oil again. If $20 Oil or less is what it takes to accomplish those goals, the Saudis will make sure it happens. They’ve gotten some help from a record run in the U.S. dollar and a weakening global economy. The Saudis were smart when Oil was trading above $100 a barrel – they stuffed their money away, unlike Alberta of course which couldn’t spend it fast enough. The Saudis can easily stick this out for a few more years, increase their market share in the process, and then ride the wave back up. They’re not stupid. They’re also now working on putting together a sovereign investment fund to make use of their currency reserves. Still too early to buy Oil stocks because there’s a lot more damage to come.
Comment by Jon - BMR — January 15, 2016 @ 10:47 am
Jon – very interesting. Your political and historical knowledge is awesome.
Comment by dave — January 15, 2016 @ 10:57 am
What’s so bad about this one is the amount of oil in storage. It’s eight times larger than ever before. If the world cut back production by 6 million bpd it would take 1000 days to use up this glut. The last largest glut took 7 years to work through. How long is this one going to take being 8 times larger. I suspect anyone invested in any oil stock is going to be waiting for a very long time to get your money back. What about base metals, they are the same. Millions and millions of tons of over supply in all base metals and china is cutting back usage. More glut, anyone invested in base metals is dead. Copper, is still ramping up production around the world for atleast two more years, they can’t sell all their producing now. It’s ugly out there for these investors.
Comment by Frank — January 15, 2016 @ 10:59 am
Jon, your post 71 is bang on in my books. Well said.
Comment by charleybarley — January 15, 2016 @ 11:10 am
I saw copper went under $2 a pound today. Look for tech and pharma stocks. Lot a people gonna be getting sick.
Comment by dave — January 15, 2016 @ 11:12 am
A smart play on the plunging Canadian dollar, besides Gold producers of course, is Biorem (BRM, TSX-V) which does quite a bit of business in the U.S. – they’re already profitable, $17 million order backlog at the end of Q3, and the lower exchange rate goes right to their bottom line. If the loonie averages 65 cents this year, that’s going to make a big difference for them, giving a further boost to earnings.
Comment by Jon - BMR — January 15, 2016 @ 11:20 am
Dave – Sorry I should have specified. I didn’t mean only on the Venture, I meant in general including TSX there are some good bargains. This doesnt mean they cant become better bargains but we all know hard to time the market.
Comment by George — January 15, 2016 @ 12:43 pm
GGI – I was accumulating at much higher levels, I held on assuming (good) news would be released by now. At this point im still holding assuming news is next week and it will be positive.
Comment by George — January 15, 2016 @ 1:08 pm
Jon u stated “The Saudis were smart when Oil was trading above $100 a barrel – they stuffed their money away, unlike Alberta of course which couldn’t spend it fast enough.”
Wasn’t Alberta run by a conservative government for 40 years? So really, the conservative’s are as much responsible for Alberta woes as the price of oil is. Alberta Ndp just got handed a really crappy hand after they won.
Comment by tony t — January 15, 2016 @ 2:02 pm
The Alberta NDP and the Federal Liberals are just the paramedics here. And they are just finding out how little they can do for their patients…
Comment by Gary — January 15, 2016 @ 2:46 pm
# 80 Point well taken tony t .
Maybe the NDP made the price of oil go down !
Comment by Les — January 15, 2016 @ 2:50 pm
Frank post 74, last time there were not as many people consuming oil as there is today…. the world is consuming more oil so the glut could be used quicker hopefully?
just thinking out loud here…
Comment by Greg — January 15, 2016 @ 3:09 pm
The oil companies are also to blame as they were taking on lots of debt and not saving cash.
Comment by George — January 15, 2016 @ 3:24 pm
Iran is set to add 700,000 b/d to the oil glut.That will be the final nail to send oil to $20/barrel.But is this really a negative?
So much of the 3rd world built their economies on oil drilling,which was not the case decades ago when Western economies were their strongest.
Manufacturing actually disappeared in the West because every 3rd world country had infrastructure in place to move products,along with cheap labour and cheap oil subsidized by the local gov’ts.
Over the last decade or more,the West has lost manufacturing jobs,labour unions have been torn apart,jobs have been taken away to the point people in North America and the West in general,are happy to get a lower wage when they balked at everything for decades because of unions and the thought they were indispensible.
Now the West may be a point where it is ready to rebuild again into a manufacturing power.Oil and transportation will be so much cheaper because of the oil glut for years probably.Dependable and experienced labour,along with a different generation of potential labour which is desperate for any job,and willing to start at lower wages than their parents did,is ready and waiting for jobs,and a next to zero interest rate for companies looking to build up,are all available for the first time in 20-30 years.
Oil,and in turn gas is cheap.Base metals for manufacturing is dead cheap,and gov’ts desperate to add jobs and in turn taxes,along with banks that have been hoarding cash since 2001 are lined up for a potential rebuilding of North America as the power it once was.
It’ll be interesting to see if businesses start repatriating back home.It may not happen,but the average yearly salary in the US has dropped precipitously the last 10 years,and with so many oil jobs gone,which were artificially holding up the economy,the gov’ts of the US and Canada will have to look seriously at re-building the manufacturing base.There is no alternative on the horizon.With a strong economy for the first time in decades,companies could sell all their goods in the West and not have to rely on China to buy their products to keep them afloat.
As for Europe,with oil this cheap,it may be the first time in decades they will finally be on an even footing with the Far East and other 3rd World countries and maybe see their own manufacturing return to their shores.
This market is a disaster,but just may be the harbinger of a magnificent re-building of the West we’ve been waiting for.Jobs are in desperate demand and the American dollar is so strong that exports are not going to compete with the cheap knockoffs that China and other 3rd World countries make and sell.
The economic numbers are in the negatives now,which says that even cheap overseas knockoffs aren’t selling.There are no jobs to pay for the products.That has to change,and this could be the time in our lives where we see a total reversal of what business has done by shipping all the jobs overseas.
I am anxious to see which politician finally states this as his agenda in the US elections because he will be voted in as the next President.
North America is now at a tipping point,where there is no economy,no taxes left to suck out,huge deficits that can’t be paid,and millions on unemployment and welfare.
Decisions will be made soon.
Comment by jim niles — January 15, 2016 @ 4:31 pm
Jim
don’t usually agree with what you post, but your post above #85 is right on in my opinion, who are you following that stated the above or did you come up with all of that on your own?
Comment by Greg — January 15, 2016 @ 7:12 pm