Gold finally broke through resistance around $1,685 yesterday and the yellow metal is up another $7 an ounce as of 8:00 am Pacific to $1,712…it got as high as $1,724 this morning…the next major area of resistance, according to John’s charts, is around $1,750…Silver is off 10 cents to $33.17…Copper has made aother impressive move – it’s up 13 cents at $3.54…Crude Oil has slipped nearly $1 a barrel to $92.34 while the U.S. Dollar Index has gained over one-third of a point to 76.65…
The CDNX is down 3 points at 1563 after climbing as high as 1577 in early trading…the Index has jumped 20% from its October 4 low of 1306…unfortunately, there’s a huge barrier facing the CDNX at the moment and that’s a very strong resistance band between 1600 and 1700…the current move cannot be sustained without a massive increase in volume given the overhead resistance…
The TSX Gold Index, however, is looking more promising which suggests to us that producers will continue to outperform the speculative juniors…below is an updated chart on the Gold Index which is currently down 3 points at 396 after climbing as high as 404 this morning…
The recent trend of improving economic data coming out of the U.S. continues…demand for a range of long-lasting U.S. manufactured goods rose more than expected in September to post the largest increase in six months, cementing views of a step-up in economic growth in the third quarter, even though new orders for transportation equipment fell…the Commerce Department said this morning that durable goods orders excluding transportation rose 1.7% after falling 0.4% in August…the rise beat economists’ expectations for a 0.4% increase…sales of new homes in the U.S. rose in September after four straight monthly declines, though this was largely due to builders cutting their prices…U.S. corporate earnings remain strong which is helping to underpin the Dow in the face of continued uncertainty regarding the euro zone…U.S. GDP for the third quarter comes out tomorrow and some economists are expecting a surprisingly strong number of around 2.5%…
Currie Rose Resources (CUI, TSX-V) reported disappointing drill results from its Mabale Hills Project yesterday with the stock dropping to a new 52-week low of 6.5 cents…Jon spoke briefly with CUI President and CEO Harold Smith following the news, and Smith was shocked the results were so poor from Sisu River and Dhahabu…this only goes to show that visuals can be very misleading…Sekenke, however, is still Currie Rose’s key asset in Tanzania and Smith remains very excited with that project’s potential…Sekenke, of course, surrounds and runs in between two past producing high-grade Gold mines…CUI drilled a small portion of Sekenke for the first time ever over the summer and assay results are pending…
Adventure Gold (AGE, TSX-V) has reported some good news this morning from Pascalis…more on that tomorrow…
Jon, what did you think of AGE’s nr? It came out of the blue for me so I interpreted it as a bonus and although the market hasn’t reacted presumably it will add value down the road and, of course, for the 43-101.
Comment by Andrew — October 26, 2011 @ 7:12 am
Excellent news, Andrew, from AGE regarding Pascalis…some comments tomorrow regarding that as I must leave now for the rest of the day to be with my mom as her condition has worsened…Pascalis is looking strong and I wouldn’t be surprised if Richmont were to step in and acquire that property assuming the upcoming 43-101 is as good as expected…
Comment by Jon - BMR — October 26, 2011 @ 7:22 am
Keep the faith !
With all the doom & gloom out there, there’s still
money to be made in Speculative stocks. Proof
being, my portfolio is up 20K for October, that
includes $9,600.00, my profit after selling SQI…
This has nothing to do with bragging, instead i
am putting forward facts. Keep the faith my cyber
friends & if i may quote Jimmy Durante, *never give up,
another one of his quotes, *be nice to people on your
way up, because you meet them on the way down. Good
luck ! Back to hibernation. R !
Comment by Bert — October 26, 2011 @ 7:23 am
Thanks, Jon. Your mum will appreciate your company and I hope she has a comfortable day.
Comment by Andrew — October 26, 2011 @ 7:31 am
Well done, Bert! I’m keeping the faith but I took a double whammy yesterday with news from EVR and CUI. Hoping VGD is not number 3! 🙂
Comment by Andrew — October 26, 2011 @ 7:34 am
The only way my stocks will go up is if someone sticks a piece of dynamite under it. Dan V
Comment by Dan — October 26, 2011 @ 7:38 am
Any thoughts as to when we might see a 43-101 from GBB? Do you think Frank is holding off due to the poor market conditions? I know you can only speculate like me, but any thoughts are appreciated.
Thanks Hugh
Comment by Hugh — October 26, 2011 @ 7:44 am
GBB is not holding NI43-101 report. Just waiting for Genivar to complete it.
Drilling stopped (finished the current phase drilling) at Granada if anyone cares to know. There is nothing planned at this time and I don’t like that.
Comment by Bruce — October 26, 2011 @ 10:08 am
Thanks Bruce. I got out of GBB sometime ago – I just didn’t like how the market reacted to the news releases. No plans – maybe that’s why they only had a couple of drill rigs? Perhaps in talks for a buy out?
Comment by Andrew — October 26, 2011 @ 10:27 am
Regarding GBB. You guys are wrong. They do have plans……..you will find out soon enough.
Comment by Dan — October 26, 2011 @ 10:51 am
Bruce – thanks for the comments, how do you know drilling has stopped? Also why do you say nothing is planned? Thanks Hugh
Comment by Hugh — October 26, 2011 @ 11:00 am
I honestly think GBB management are shocked by the poor results they are getting since February . Also , because of these results Genivar are having a hard time coming out with a 43-101 at a level of 2 to 2,5 millions ounces that can be economically minable . Moving a drill to Castle after February results was a good indications of the type of panic that management was going threw. I remember clearly in early 2006 after good results from Osisko in Malartic , management had over 11 drills on site at the end of that year. Think about it…You do not pull away a drill of only three in total , from a winner property . It’s completely illogical.
Comment by Andre — October 26, 2011 @ 11:06 am
Regarding GBB. You guys are wrong. They do have plans……..you will find out soon enough.
Comment by Dan — October 26, 2011 @ 10:51 am
I’d love to be as confident Dan, I have been a big holder of GBB for a long time, made money and sold off my original cost, but am still holding a lot that I am thinking I should have sold off too…Something obviously happened between BMR and GBB because they don’t even answer questions anymore about them. No news, no 43-101, no warrants being exercised….sigh I am sad….I hope but I am not sure they have the ability anymore…..
Comment by P — October 26, 2011 @ 11:10 am
I talked to them directly. Also, if someone is referring to bulk sampling as having a plan then so be it.
They are conserving money now so that is why the drilling stopped. Once they pour the gold through the bulk sampling then they’ll have the money to do lots of drilling.
The reason I said that I don’t like it is because there will be months of gap in terms of the drill results. There will be a good pop after the NI43-101 result but why would I want to hold it after that point especially in this kind of market condition? I rather see dilution and see the drill rigs working.
As for a take over, everyone has a price. The question is what’s the price and if anyone is paying.
Comment by Bruce — October 26, 2011 @ 11:12 am
PS. I like people at GBB. They are honest and straight forward. Granada has a great potential as well, long term.
My opinion about the company is that they are weak in execution and they seem to over estimate what they have and can do.
Comment by Bruce — October 26, 2011 @ 11:18 am
Bruce… GBB over estimate in what they have. You call that to be honest ? . If I sell you a peace of land and I tell you there are five acres. Once you bought it and realise that there are only one. Am I honest ? .
Comment by Andre — October 26, 2011 @ 11:34 am
Andre, its quite clear where your position is with GBB and it hasnt changed. Will you just grow up and stop whinning about it every chance you get? Can you please move on? Wish I could put you on ignore like on StockHouse. And about honesty? really boy your one to talk!
Comment by alec — October 26, 2011 @ 12:04 pm
Thanks Bruce!
Comment by Hugh — October 26, 2011 @ 12:19 pm
Andre, I estimate your mental age to be 5. How is that for an honesty?
Comment by Bruce — October 26, 2011 @ 1:06 pm
In reply to comment 13 by P- I have to agree that the visit by Jon to Que., without a site visit or
interview from GBB was very telling to me. The bulk sample,is no way to finance a serious exploration
program and only tells me a financing is not feasible, and I’m increasingly concerned by the silence that
it’s not due to market conditions. I’ve been a long term holder, and Frank just seems to be boot-strapping
what he called the next Osisko. It may be time to pass it on to Sean Roosen and co., some times you have to
move and shake to make things happen.. Am I disappointed, d…..m right, share holders deserve at least a
corporate update.
Comment by Bob — October 26, 2011 @ 4:26 pm
Bruce… just by your immature comment I think you should look in the mirror before and ask your self if it”s not me the big looser . There are a lot of you on GBB board and I am happy that you are all gettting a good lesson in how to invest and in life. listen to the pros…. Better chance to go further in life.
Comment by Andre — October 26, 2011 @ 4:37 pm
will you guys quit bikkering. We are here to make money. Those who believe in GBB, good for them and those who don’t, good for you too. Everyone should worry about where thier own money is at instead of someone elses. Holidays are coming up, eat drink and be Merry.
Comment by dave — October 26, 2011 @ 7:59 pm
I agree Bob, I dont like the silence here from GBB. If the 43-101 is delayed, its no big deal just blame the backlogs but at least communicate this to the market. In fact I am going to write to Frank and politley give him a piece of my mind.
Comment by Hugh — October 27, 2011 @ 1:06 am
I already did that with Roger(gbb) a few days ago Hugh , i agree they need to put out a p-r /up-date a.s.a.p , respect the share -holders and inform them , they’re not supposed to get their info from posters on stock bull boards.. They’re affraid of coming out with yet another sell on the news i guess, at this point who wouldn’t ?.. I think the corective plan is good and what should of been done , Frank wanted it that way in the beginning but got conviced by the osk model.. Long gap , yes , adding oz with each core we receive, i guess , they still have like 100 back loged cores in the shed..so the 43-101 can take time still , but in the end ..when it FINALY comes out.
it could be a monster..
yes we could get some selling ,pick some but after that is done , it will be thight and less fun for day trader AndrĂ©… How much are you making a day with gbb and your moqueries AndrĂ© 50-60 $ ?
You lied that you were at the dine and sent negative p.m’s to ones who beleived it … I wonder what kind of frustrated young boy you are ? Playing with people ‘s money like this .. it could get you in trouble you know ?
Comment by dude — October 27, 2011 @ 6:31 am
Thanks Dude, for what its worth I penned an email to Roger and Frank today. I wonder if I will get a reply. At least they know my thoughts and they echo yours. Patience required here.
Comment by Hugh — October 27, 2011 @ 6:49 am