Gold reversed yesterday and traded as high as $1,753 overnight…as of 5:25 am Pacific, the yellow metal is up $2 an ounce at $1,747…Silver is 17 cents higher at $34.32…Copper is up a nickel at $3.90…Crude Oil has gained 91 cents a barrel to $99.32 while the U.S. Dollar Index is off slightly at 78.47…
Fed Chairman Ben Bernanke was unmoved by a stronger than expected U.S. employment report last Friday, stating yesterday before the Senate Banking Committee that “the 8.3% no doubt understates the weakness in the labor market in some broad sense…while some employment indicators are improving, there are “a lot of people out of the labor force because they don’t think they can find work,” Bernanke concluded…
Despite signs the U.S. economy is gaining strength, the Fed is taking nothing for granted after seeing what happened last year…rates are staying low for an extended period and the recent growth in global money supply (according to ISI Group, 78 “easing” moves have been announced around the world in just the past five months and global money supply jumped 8% – $4 trillion – year-over-year in December) are fundamental factors pointing to a very bullish environment for Gold, commodities and markets in general…
There was a great quote from Dennis Gartman (hedge fund manager and author of the Gartman Letter) yesterday on CNBC…”The public is frightened of investing, and if the public is frightened we should be enthusiastic.”
Yes, we should be enthusiastic…the “big picture” outlook over the next 12 to 24 months for the TSX Venture Exchange is exceedingly bullish as John’s recent charts have shown…the market got a little ahead of itself in late 2010 and early 2011, so a nasty 1100+ point drop unwound that overbought condition in order to lay the foundation for the next major move, now underway, that could lead this Index back up to its 2006 and 2007 highs by sometime next year or early 2014…the Venture closed yesterday at 1663…
Stock index futures as of 5:25 am Pacific are pointing toward a mildly positive open…Asian markets were up strongly today with China’s Shanghai Composite gaining 56 points to close at 2348…if it breaks above 2400, watch out…
Let’s go back to Gold for a moment which appears to be gearing up to test a resistance band all the way up to $1,800…
Note: John, Jon and Terry do not own physical Gold at the moment (but we wish we did).
The CRB chart tells us a lot right now, too…below is John’s 2-year weekly chart update for the Reuters/Jeffries CRB Index which put in a double bottom and has broken above a downsloping trendline…
Great results yesterday from Cap-Ex Ventures (CEV, TSX-V) which jumped 14 cents to close at $1.13 on its best volume (1.8 million shares) in over two months…below is an updated chart on CEV as it approaches a resistance band between $1.20 and $1.25…
Note: John, Jon and Terry do not hold positions in CEV.
Prodigy Gold (PDG, TSX-V) released an update this morning on its Magino Gold Mine Project in northern Ontario…the company says it remains on schedule to complete a full feasibility study for Magino by late this year…Prodigy has been drilling at Magino since mid-January and will soon have six diamond drill rigs operating at the project…the additional rigs will allow Prodigy to complete its previously announced 60,000 metre resource definition, resource expansion and condemnation drilling program by this summer…when drilling is completed, the company will update its Gold resource estimate for Magino and integrate the results of the feasibility study into the overall project description for submission to the Ministry…the company hopes to begin construction at Magino in 2014 with mining underway by 2015…PDG closed at 82 cents yesterday, a penny below its rising 50-day moving average (SMA) which has provided consistent support for the stock since last October…
And another good news release from AGE this morning:
Adventure Gold and Mazorro Resources Intersect High Grades at Shallow Depths on Lapaska Bulk Tonnage Gold Property Including 7.2 g/t Au Over 9 Metres at a Depth of 31 Metres
Comment by Andrew — February 8, 2012 @ 5:48 am
I mentioned this stock yesterday – maybe one to watch?
Yukon-Nevada Gold Corp. Closes $20 Million Forward Gold Purchase Agreement with Deutsche Bank
Comment by Andrew — February 8, 2012 @ 6:45 am
Any thoughts on GBB’s SHRP announced yesterday?
Comment by mike — February 8, 2012 @ 9:17 am
BMR
Any idea on how long the 1.2 million financing package will last RBW, what will be their monthly burn rate?
thx
Comment by GREG H — February 8, 2012 @ 12:10 pm
Great analysis lately gents.
Im floored to see some positivity returning to our mindsets…
Comment by kennedy — February 8, 2012 @ 12:25 pm
Andrew
What is the symbol for that Yukon Stock you mentioned?
Comment by John - BMR — February 8, 2012 @ 12:51 pm
The lowish financing done by rbw indicates to me that they are very confident of finding good mineralization pretty quickly. This was another reason for my buying my two cents worth.. richard
Comment by richard — February 8, 2012 @ 1:00 pm
John
Yukon-Nevada Gold Corp is YNG on TSX
Comment by Andrew — February 8, 2012 @ 1:04 pm
Andrew
Thank you, yes I found it….I was looking under ‘Nevada’. Rather late for this run. Maybe after a retracement.
Comment by John - BMR — February 8, 2012 @ 1:08 pm
YNG made 60% gain in three days from a hammer last Friday. Overbought now but maybe it has further potential?
Comment by Andrew — February 8, 2012 @ 1:08 pm
You can’t fool people anymore by your hype BMR. It would have worked 2 years ago, RBW is going down like the rest of the BMR recommendations. Thanks for all the good stock tips, i am less fortunate now. I hope you have a good sleep with all the fortune you made while making life of million people miserable. 🙁
Comment by Miserable — February 8, 2012 @ 1:36 pm
Alot of good think in the rapport! multiple parallel high grade silver vein is probable, some gold occurence as well!
With the work they have done in the fourth quarter, it is will be a relatively advance property.
Did you learn any new stuf Jon?
Comment by Martin — February 8, 2012 @ 1:57 pm
It appears the boys have cut me off, so be it, at least only
one way, i can still read, thanks for that.. I will just move on,
but it wouldn’t be the same, if i didn’t find a way to submit a
final post, to thank you all, for taking the time to read & respond.
You will be missed, but time takes care of everything. I wish you
all, including John, Jon & Terry, the best of luck in any future
endeavours.
Respectfully !
Bert
Comment by Bert — February 8, 2012 @ 2:23 pm
Bert… I wouldnt be too hasty… they have had technical issues in the past… and why would they ‘cut ya off’ .. doesnt make any sense… if Miserable can come on and spew, and all that you give to this forum doesnt make any sense…
dont get it for sure!!!!
Comment by Jeremy — February 8, 2012 @ 2:31 pm
Hey Bert i have had the same thing happen to me on occasion, i leave comments from more then one computer and it seems like from the one computer i post and it will at first accept it and then when i look later it is gone. So anyways i for one enjoy your posts.
Comment by Ed — February 8, 2012 @ 2:39 pm
Had a quick look at VGN and dont like a couple of things. They have over 930 ml shares outstanding which is terrible management. Not only that but they have granted Deutsche Bank 40 ml warrants at 44c over 3 years. A much better near term producer is Metanor MTO. They have less than a quarter of the shares outstanding and have a straightforward forward purchase deal with Sandspring with no extra dilution. They also have lots of blue sky at their other property, the Barry, which will be developed from the upcoming cash flow.
Comment by Patrick — February 8, 2012 @ 2:58 pm
Bert
It’s just tech problems – db posted yesterday #19 but on my screen all I see is a post from me or you! There were no posts yesterday from db. Today they posted okay or at least two did. So you haven’t been cut off and why on earth would you! 🙂 The fact that your post of this evening showing as #13 proves that you haven’t been cut off – even a Kerry man could figure that one! 🙂
Comment by Andrew — February 8, 2012 @ 3:44 pm
Martin, thanks for your comments too. I’m going to print off the report and read it tonight but I think I’ll have trouble interpreting the value/meaning of some of the results. Everyone seems optimistic anyway, so that’s good! I’m guessing the financing didn’t close or they are preparing a press release to go along with it? If any shareholders get itchy feet and sell their shares tomorrow with noi news I tyhink I
ll try to pick them up < .20 🙂 Bonne soiree!
Comment by Andrew — February 8, 2012 @ 3:47 pm
Board members affiliated with RBW: http://investing.businessweek.com/research/stocks/people/relationship.asp?personId=143956504
Comment by Andrew — February 8, 2012 @ 4:24 pm
This report is dated 30/07/2008 so is included in the report that Martin linked too, but if anyone wants to view it here it is: http://aris.empr.gov.bc.ca/ArisReports/30329.PDF
Comment by Andrew — February 8, 2012 @ 4:59 pm
Come on Bert don’t leave, I will have no one left to make me chuckle in the mornings…
greg
Comment by GREG H — February 8, 2012 @ 6:01 pm
VGN INFO … NO 900 MILLION SHARES pATRICK.. FROM TX.COM
Open: 0.130 Ex-Div Date: N/A
High: 0.130 Dividend: N/A
Low: 0.125 Yield: N/A
Prev. Close: 0.130 Div. Frequency: N/A
Bid: 0.125 Total Shares: 45,742,671
Bid Size: 49 Escrow Shares: 0
Ask: 0.135 Net Shares: 45,742,671
Ask Size: 10 P/E Ratio: 13.00
Market Cap: 5,717,834 P/B Ratio: 0.735
EPS: 0.01 Exchange: TSXV
Comment by Jeremy — February 8, 2012 @ 7:31 pm
Hi RBW investors
Here is a link to the updated Rainbow Fact Sheet on Rainbows website stating that the Private Placement will be done the week of February 6th.
rainbowresourcesinc.com/pdfs/RBW_fact_sheet_web.pdf
Comment by Ed — February 8, 2012 @ 9:08 pm
BMR team
In your guys opinion do you believe the Moose Mountain Technical report, which includes a comprehensive look at all six Rainbow Resources properties based on work done in the fourth quarter, previous work done by Braveheart and historical data, will be released before the end of February?
Comment by Ed — February 8, 2012 @ 9:29 pm
Sorry I meant YNG. Cracking up but all else is correct.
Comment by Patrick — February 9, 2012 @ 2:39 am
Hi Ed, your timeline is correct, someone spoke with them, they says end of feb, beginning of march, as they are still collecting data.
(rumor from another board)
GL
Comment by Martin — February 9, 2012 @ 5:22 am
Ed, I talked with Mr.Murray on tuesday and was told pp will close this week. And in regards to MMR (Moose Mnt Report), He told me Moose Mnt is still collecting data and he is hoping they will have something to release before the end of Feb…
Comment by db — February 9, 2012 @ 5:34 am
Yes, from what I’ve heard the PP has been put to bed and news is imminent…..if it doesn’t come today, I would guess probably Monday as putting out that news on a Friday doesn’t make a lot of sense….looking fwd to hearing more regarding the properties….
Comment by Jon - BMR — February 9, 2012 @ 5:40 am
Thats excatly what I was just saying to my buddy. Im not really concerned with the PP closing today, tomorrow, or next week. I WANT THE MMR!
Comment by db — February 9, 2012 @ 5:50 am
RBW may put out closing of PP on a friday. Usually not that big of a deal. if it was pending drill results or anything other than a PP closing I`d be a little concerned with a Friday release…
Comment by db — February 9, 2012 @ 10:14 am
OK, talked to IR from RBW…financing IS closed and will be announced mon or tues next week…in regard to what the financing will be used for refer back to NR released on Dec7th
Comment by db — February 9, 2012 @ 2:12 pm