A Happy 4th of July and “Independence Day” to our American friends…Gold pushed higher again overnight to follow up on Friday’s end-of-quarter “window dressing” that drove prices up $20 an ounce…as of 9:30 am Pacific, the yellow metal is up $9 an ounce at $1,351…Silver, which rocketed to $21 overnight after rising more than 10% last week, has added 68 cents to $20.43…Copper is off 2 pennies at $2.20…Crude Oil is relatively unchanged at $48.90 while the U.S. Dollar Index is off more than one-tenth of a point to 95.54…
U.S. stock markets are of course closed today for the Independence Day holiday which of course has affected volumes on the Canadian markets…Asian markets were higher overnight while European shares finished moderately lower today…
An apparent burst of short-covering in China and political turmoil in Britain have supported Gold prices today…bullion reached a peak of $1,357 overnight, just a few dollars below last month’s high…
Credit Suisse has raised its Gold forecast to $1,500 per ounce by Q1 2017 (they’ll have to up it again)…
Global Gold holdings have expanded by more than 500 metric tons since bottoming in January in a signal of investors’ rising concern about slowing growth and the fallout from Britain’s vote to quit the European Union…what that also means is that governments and central banks may turn on the liquidity taps full blast, supporting not only Gold but equity markets as well…
Assets in bullion-backed exchange-traded funds rose another 6.6 tons on Friday to 1,959.1 tons, up from 1,458.1 tons on January 6, according to data compiled by Bloomberg…the holdings swelled 37 tons last week as investors reacted to the U.K. vote, and increased in 5 months out of 6 in the first half of the year…
Commodity Comparative Chart – January Through June
As strong as Gold was during the first half of 2016, Crude Oil and Silver were even stronger!…
Below is a chart covering WTIC, Silver, Gold and Copper and their respective performances for the first 6 months of the year…
Central Banks To The Rescue!
Interesting – the market’s primary measure of fear has cratered, representing a dramatic turnaround in the emotional state of investors…the Volatility Index plunged 42% last week in the biggest 1-week drop in the history of the index that goes back to 1990…the move came as equities staged a major comeback following the 2-day sell-off that immediately followed the Brexit vote…
In today’s Morning Musings…
1. Three juniors with powerful starts to July…
2. An amazing long-term Silver chart…
3. Daniel’s Den – 5 signs of a healthy precious metals bull market, plus developments at “True North”…
Plus more…click here if you’re a non-subscriber to receive 3 Top Picks For July, or login with your username and password to view the rest of today’s Morning Musings…
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20 Comments
Help – I am a subscriber but I am not seeing the full Morning Musing for July 4th – and it looks very interesting!
In today’s Morning Musings…
1. Three juniors with powerful starts to July…
2. An amazing long-term Silver chart…
3. Daniel’s Den – 5 signs of a healthy precious metals bull market, plus developments at “True North”…
You need to login, Joe…you won’t see those 3 points (that’s all you won’t see) if you’re not logged in…from that point on everything is restricted to subscribers only…
Joe: log out and log in again. It happens quite often to me.
Joe, you may have to log out and log back in.
Small correction .. KDX on the TSX…:)
Thank u, Jeremy, that was my typo…fixed!
$UMB.c seeing some interest building once again of late last at 0.055(+22%) on 615K shares
No worries Jon .. it was all the excitement surrounding the V!:)
A huge day for GCM… up 30% to 13 on 15 mill shares.. a 1 mill cross at 3PM started the fireworks… anyone have any thoughts or comments??
Thank you IceClimber and Jon – had to logout first then log in. That did the trick!
GG – Galane Gold moved up significantly on
Galane Gold Ltd. reports a significant increase in quarterly gold production @newswire/galane-gold-ltd-reports-a-significant-increase-in-quarterly-gold-production $GG
GBB NR.. partnering with TKK … seems TKK owed GB 60K .. so GBB got some claims in return.. hmmmm
Good arrangement for both, Patricia…those TKK claims are within a section of the property that has potemtial for high-grade gold in a separate system from what TKK is focused on which is the Silver and Cobalt at Castle, particularly the possibility for extraction of additional mineralization from the past producing mine…the grades from that mine were phenomenal…interesting story there which we’ll elaborate on this week…TKK is coming to life so, at 4 cents she’s a steal…
Jon – am I reading this right that TKK has a market cap of under 1 million??????????
Correct, Jeremy…not for much longer, though.
GBB TKK – but neither one has cash and plans for GBB are snailing along. TKK has a nice shr structure so far, but a FT PP(cause that’s where the easy money is these days for juniors) w secutor or another equally infamous FT fund will not be good down the road
David, doesn’t matter one bit that TKK has little cash right now—-all the more reason, in fact, why the stock is going to go for a ride so money can be raised between a nickel and 10 cents, I would suspect. That’s how it works in this business. Tight share structure, was a shell until Castle was put into it. Lots of similar examples on the Venture, and these type of situations are often great buys at a nickel or less. What TKK does have is a valuable asset – the Castle Mine Property – which I visited in northern Ontario on a trip to different projects. And I sense they’re about to pull the trigger on some stuff. 22 million ounces of Silver were produced at Castle historically at exceptional grades, as late as 1989, plus some Cobalt production.
As far as GBB goes, they now have a mining permit (finally) and a multi-million ounce resource. That’s worth something, especially in this environment. The stock hit resistance at 15 cents and has come back to support around 8 cents which is attractive. Lots of investors bullish on Gold’s prospects who will come up with a suitable financing arrangement to put Granada into production. The up-front capital costs are very modest and doable.
Good news out from ORG, water discovery which is critical for that deposit…good call by Daniel.
Deveron receives approval to list on CSE
2016-07-05 07:21 ET – News Release
Mr. David MacMillan reports
DEVERON RECEIVES CONDITIONAL APPROVAL FOR LISTING ON THE CSE
Deveron Resources Ltd. has received conditional approval for the listing of the common shares of the company on the Canadian Securities Exchange and the common shares will begin trading upon receipt of necessary regulatory approvals.
In addition, at the company’s annual and special meeting of shareholders held on June 28, 2016, shareholders voted in favour of the resolution brought before them to approve the voluntary delisting of the common shares of the company from the TSX Venture Exchange and to approve listing the common shares on the Canadian Securities Exchange.
The company also reports that at the meeting all resolutions presented in the information circular and proxy were approved, which included the amendment to the articles of incorporation to change the name of the company to Deveron UAS Corp. and the re-election of the board of directors, namely, James Pirie, David MacMillan, Chris Irwin and James Borland.
Deveron should be trading within about a week is my estimate.
Doubleview announces exploration and work program on its Red Spring Silver-Copper and Gold Property
Vancouver, BC / July 5 2016 – Doubleview Capital Corp. (“Doubleview”) ([TSX-V: DBV], [OTCBB: DBLVF], [GER: A1W038]) is pleased to provide details of mineral exploration activities and announces resumption of exploration at its Red Spring copper-silver property located 160 km north of Smithers, British Columbia.
Building on the success of its Hat Project, and the recent strengthening of metal markets, the Company is proceeding to advance its other exploration projects. In recent months Doubleview’s team has evaluated a large number of gold, silver, and gold-copper properties in British Columbia, western United States and elsewhere and is continuing to search for opportunities to add to the Company’s portfolio of such properties and assets. The Company has identified and is negotiating acquisition of two significant properties and when appropriate will issue further news releases.
Red Spring Copper-Silver Property:
The Ministry of Energy and Mines has waived the need for a permit to drill a small number of shallow holes on the Red Spring Copper-Silver property in order to further explore the near-surface extent of mineralization. The innovative shallow-hole drilling using a very light weight easily portable unit will have a negligible footprint and will be a logical continuation of a just-completed, approximately 1 square kilometer, detailed soil geochemical sampling program and will target newly identified areas of exploration potential as well as test and confirm historical work. Following receipt of soil analyses and compilation of all newly-acquired and historic data, the Company plans to continue exploration of the property.
The Red Spring property comprises 215.75 hectares and includes the historic Red Spring high grade copper-silver occurrences that have been explored in recent decades by technical surveys, including geological mapping, geochemical surveys and induced polarization geophysical surveys and by at least 1200 metres of diamond drilling. Previous operators estimated a preliminary near-surface, non-NI 43-101 compliant, resource of 4.5 million tonnes with 0.5% copper and 11.9 g/tonne silver.
Hat Gold-Copper Property Exploration Program:
Doubleview in 2011 optioned the Hat Property, located southwest of Dease Lake, northwestern British Columbia, and subsequently conducted more than 8300 metres of diamond drilling that resulted in the identification of an important gold-copper alkalic porphyry-type resource. Work was halted in July, 2015 as a result of the occupation of the site by a delegation from the local First Nation that caused the locally-based First Nation contractor to remove its personnel. The Company has resolved this issue and will resume work when financing is in place.
About Doubleview Capital Corp.
Doubleview Capital Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange [TSX-V: DBV], [OTCBB: DBLVF], [GER: A1W038]. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. The Company’s portfolio of strategic properties provides diversification and mitigates investment risk.
On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer