Gold has traded between $1,240 and $1,251 so far today…as of 11:00 am Pacific, the yellow metal is up $5 an ounce at $1,248…Silver is 12 cents higher at $18.20…Copper and Nickel are both unchanged at $2.64 and $4.51, respectively…Crude Oil is up 22 cents at $50.57 a barrel while the U.S. Dollar Index has slipped one-tenth of a point to 100.38…
Gold is on track for a nearly 8% quarterly rise, its best quarter in a year, as political and economic uncertainty across the globe have fueled demand for bullion as a safe haven…though up strongly on a quarterly basis, the yellow metal experienced its biggest 1-day drop in more than 3 weeks yesterday after failure to break resistance at its 200-day moving average (SMA) around $1,260…
The greenback is headed for its best week this year, not surprisingly since temporarily oversold conditions and the solid support at 99 on the Dollar Index suggested a technical rebound was in the works as John pointed out last weekend…fundamentally, the dollar has been helped this week by some better-than-expected U.S. economic growth data…however, the Dollar Index may have hit an important top last December and its current consolidation has the potential to evolve into a more negative trading pattern by the summer…
The buying of Gold as a hedge against risk, plus a recovery in Indian buying, are likely to push prices to an average $1,259 an ounce this year, GFMS analysts at Thomson Reuters said in their Gold Survey 2017, published this morning…
Oil Update
Star Oil trader Pierre Andurand.
Pierre Andurand, managing partner at Andurland Capital Management, is one of the world’s best known Oil traders – so investors would be wise to carefully consider his thoughts on this market right now…
Oil prices are currently at a crossroads where they should significantly rebound, he says, and they are not capped around $55 as is widely assumed but rather are on track to hit $70 per barrel later this year…this is what he told CNBC last night on the sidelines of an event where he was crowned the winner of the EMEA Investor’s Choice Awards for 2017…
“I think Oil prices are likely to recover to around $70…we stopped being in oversupply in Q2 last year…now we’re in deficit from April last year to December, and we’ll have a larger deficit this year and next year…I think the market will switch to backwardation – sustainable backwardation – by late summer and that will bring the next wave in Oil prices,” Andurand predicted, referring to the situation where nearer-term spot price Oil contracts are more expensive than longer-dated forward contracts…
On A Lighter Note…
We regret to inform you that John’s charts may not be so colorful anymore!…
It is actually National Crayon Day, and the dark-yellow Dandelion crayon (our favorite) has decided to retire…
Yes, Crayola is saying farewell to Dandelion as he departs the team of 24 and enters retirement…
Crayola made the announcement on Twitter yesterday, much to the disappointment of Dandelion enthusiasts…
This is the first time the company has retired a color from its classic 24-count box…they’re about to announce a replacement for Dandelion, but the remaining 23 colors are red, yellow, blue, brown, orange, green, violet, black, carnation pink, yellow orange, blue green, red violet, red orange, yellow green, blue violet, white, violet red, dandelion, cerulean, apricot, scarlet, green yellow, indigo and gray…
Still lots to choose from but Dandelion is going to be missed!
In Today’s Morning Musings…
1. Cobalt hits $25 – signs that Cobalt stocks are about to heat up again (3 inexpensive plays on the move in northern Ontario)…
2. Cannabix Technologies (BLO, CSE) closes quarter on strong note…
3. Daniel’s Den – Friday Footnotes, updates on several stocks, and what baseball can teach us about investing…
Click here to receive, via email by Monday, BMR’s top picks in the northern Ontario Cobalt Camp…
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GGI’s chart is looking for any little excuse to break out again. Primed for a move!
Comment by weatheritout — March 31, 2017 @ 4:25 pm
Jon: excellent call on the Cobalt stocks. CPO firmed up nicely 14 bid. TSX-V looks poised for a good April!
Comment by STEVEN1 — March 31, 2017 @ 5:24 pm
Can CSR catch up or leapfrog past E cobalt with the Basa / DRA Mill idea?
Comment by donald — March 31, 2017 @ 6:38 pm
ABR and SSS moved today on good volume’s!
Comment by STEVEN1 — March 31, 2017 @ 8:16 pm
CEM – hardly been trading then some big trades went through in the last 3 minutes of trading on Friday, maybe nothing but maybe something.
Regarding GGI, I just don’t think there is a lot of trust in Regoci out there, has kept totally quiet about what’s going on in Mexico.
Comment by Danny — April 1, 2017 @ 7:35 am
Cobalt stocks look good.
Comment by Dennis — April 1, 2017 @ 10:28 am
Jon
Why does e-cobalt have a 121million market cap?
Comment by Greg — April 1, 2017 @ 11:27 am
The market is hot for Cobalt, Greg, and eCobalt has an advanced primary Cobalt project being steered toward near-term production (the only one in U.S.). About 50 million pounds of Cobalt (grading approx. 0.50%) in Measured, Indicated and Inferred with Cu and Au credits as well. Feasibility Study upcoming and full production scheduled for late 2019. Market cap will climb higher with Co prices.
Comment by Jon - BMR — April 1, 2017 @ 11:40 am
Thanks Jon
That has to bode well for CSR and CPO as they move forward to drilling?
Comment by Greg — April 1, 2017 @ 2:53 pm
Certainly does, Greg. CSR also has a technology and potential vertical integration angle to it that further elevates its market cap possibilities.
Comment by Jon - BMR — April 1, 2017 @ 8:25 pm
Zimtu Capital website
The news release says May 31 2017, they must have made a mistake and meant March 31 2017?
May 31, 2017
Zimtu Capital Corp. Announces Transaction with Castle Silver Resources Inc.
Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the “Company” or “Zimtu”) announces it has signed an agreement with Castle Silver Resources Inc. (TSXv: CSR; FSE: 4T9B) for its ZimtuADVANTAGE program.
ZimtuADVANTAGE is a program designed to provide opportunities, guidance, cost savings and assistance to companies covering multiple aspects of being a public company. The services may include building financial networks, building business networks, shared costs with other public companies, building a social media presence, conference opportunities, media outlets and guidance and special group pricing provided by Zimtu’s network of public company professionals. The program provides the flexibility to allow companies to customize the products and services to best support their needs. The program also provides participating companies access to and meetings with Zimtu’s market participants in Europe and North America.
Zimtu Capital Corp. also announces that Sven Olsson has resigned from the Board of Directors. The Company would like to thank Mr. Olsson for his service and dedication to the Company and its shareholders.
About Castle Silver Resources Inc.
Castle Silver Resources Inc. is a TSX Venture-listed junior mining company focusing on the exploration and development of former silver and cobalt mine properties in northern Ontario including the Castle Silver mine near Gowganda and the Beaver and Violet mines near Cobalt. Recent drilling intersected 188.8 ounces/tonne silver and 1.44% cobalt and metallurgical testing showed excellent recoveries and concentrate grades. Additional drilling is planned in 2017 with the goal of resuming cobalt-silver mining to supply rapidly growing demand. Cobalt is used in three of the four lithium batteries used in electric cars and silver is used in 90% of crystalline silicon photovoltaic cells used in solar panels. Additional information on the Company’s properties and plans is available by visiting its website at http://www.castlesilverresources.com.
About Zimtu Capital Corp.
Zimtu Capital Corp. is a public investment issuer that invests in, creates and grows natural resource companies. The Company also provides mineral property project generation and advisory services helping to connect companies to properties of interest.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
“David Hodge”
David Hodge
President & Director
Tel: 604.681.1568
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Comment by greg — April 1, 2017 @ 10:44 pm
Oh great, anytime Zimtu gets their hands on something it’s a disaster…they are the only ones that make money.
Comment by Dennis — April 2, 2017 @ 9:28 am
lol, Dennis. The more the merrier. Zimtu is just a small part of the equation here but the fact is they will help put more eyeballs on CSR, and likely open some new doors in Europe or elsewhere overseas. And believe me, in this instance, they’ll be far from the only ones to make money.
Comment by Jon - BMR — April 2, 2017 @ 11:09 am
Jon
Seems like Frank wants to get the word out there re: CSR any idea who else he may be in contact with to help with promoting CSR?
Comment by Greg — April 2, 2017 @ 3:47 pm
Not specifically, Greg, but some powerful investors from Europe to Asia to North America is what I suspect…you could see how some significant players on Howe St. got very gung-ho about CSR last month during its financing, and word can spread quickly and broadly with those types…the appetite for Cobalt and Cobalt stocks is only to going to increase…
Comment by Jon - BMR — April 2, 2017 @ 5:18 pm