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Gold has traded between $1,745 and $1.752 so far today…as of 8:00 am Pacific, the yellow metal is down $4 an ounce at $1,745…Silver is off 12 cents at $34.06…Copper is flat at $3.52…Crude Oil has lost 60 cents cents to $87.14 while the U.S. Dollar Index is up one-third of a point at 80.42…

Greece Gets A Reprieve

Greece’s international creditors reached an agreement overnight to end an impasse over the country’s rescue program and unlock long-delayed loan payments, though the plan left officials with a host of challenges that could derail efforts to cut the government’s debt burden…finance ministers from the 17-country euro zone and the International Monetary Fund struck a deal in Brussels to cut Greece’s debt to a target level below 124% of gross domestic product by 2020, officials said…to satisfy IMF concerns that Greece’s debt must fall even more to be considered “sustainable,” euro-zone ministers agreed to bring Athens’s debt target to substantially lower than 110% of GDP in 2022…the deal will allow Greece to receive loan payments of about $57 billion U.S. to be paid in four installments between December and the end of March, tied to the country sticking to the terms of the bailout deal…Citigroup released a fresh analysis yesterday in which the firm estimates that at least five nations along the periphery of the euro zone will need to restructure their onerous debt burdens…the worst of the bunch – Greece – likely will dump the currency completely before 2013 ends, while nations such as Spain and Italy that have ducked under the radar likely will find themselves back under pressure, Citi said…

OCED Cuts Global Growth Forecast

The OECD slashed its global growth forecasts today, warning that the debt crisis in the recession-hit euro zone is the greatest threat to the world economy…in light of the economic outlook, the OECD is urging central banks to prepare for more exceptional monetary easing if politicians fail to come up with credible answers to the debt crisis…the Paris-based think-tank forecast in its twice-yearly Economic Outlook that the global economy would grow 2.9% this year before expanding 3.4% in 2013…this estimate marked a sharp downgrade since the OECD last estimated a rate in May of 3.4% for this year and 4.2% in 2013.

Today’s Markets

Asian markets were mixed overnight…the Nikkei Index climbed to a 7-month high as Japanese opposition leader Shinzo Abe, who is expected to win a December election, said the country cannot restore its fiscal health without overcoming deflation, calling for bolder monetary and fiscal stimulus to revive the economy…China’s Shanghai Composite, however, continues it slump…it fell to a four-year low, closing at 1,991…European shares were mostly slightly higher today while North American markets are off modestly…as of 8:00 am Pacific, the Dow has retreated 41 points while the Venture Exchange is down another 4 points to 1222 after a 33-point decline yesterday…there is technical support at 1215…

GoldQuest Mining (GQC, TSX-V)

GoldQuest Mining (GQC, TSX-V) is taking a hit this morning on results from five more holes at its Romero discovery in the Dominican Republic…the best assay was an interval of 52 metres in LTP-111 that graded 1.31 g/t Au and 1.24% Cu…the first deep hole drilled at Romero (LTP-106) did not intersect significant mineralization at depth, which the market has clearly expressed disappointment about…this is still a very important discovery but drilling remains in the early stages…to gain a better understanding of the system(s) in the area, GoldQuest has launched a deep-penetrating IP survey of the Las Tres Palmas trend (to a depth of 500 metres), specifically west of Romero and north of La Escandalosa…GQC fell as low as 49.5 cents this morning…as of 8:00 am Pacific, it’s off 25 cents at 53 cents on volume (all exchanges) of nearly 6 million shares…

Discovery Ventures (DVN, TSX-V)

Discovery Ventures (DVN, TSX-V) is wasting no time in raising money to kick-start the process of putting the Willa deposit into production in the Slocan Valley…DVN announced a private placement yesterday of $2 million at 25 cents, a substantial discount to recent trading levels…this aggressiveness by DVN in wanting to move forward with production at Willa is certainly a bullish development for mining and exploration in this particular region which we’ve covered quite extensively over the past year through Rainbow Resources (RBW, TSX-V)….Rainbow’s Gold Viking Property, just 8 miles south of Willa, takes on more importance with what DVN is doing, especially if Rainbow’s recent drilling results in any discoveries…

Tinka Resources (TK, TSX-V)

A couple of months ago, while attending the Cambridge Show in Toronto, we introduced a company called Tinka Resources (TK, TSX-V) which at the time was trading around 70 cents…Tinka continues to make progress with its main asset, the 100% owned Colquipruco Silver-Lead-Zinc project covering nearly 10,000 hectares hectares in the richly mineralized Ag-Pb-Zn belt of central Peru, 40 km northwest of Cerro de Pasco…two zones, 1.5 km apart, have been the subject of drill campaigns so far…Tinka has broken through some important resistance and is now trading at an all-time high after hitting 77 cents yesterday (and on a bad day for the Venture)…it’s certainly worthy of our readers’ due diligence and John will be updating the chart this week…Tinka is up another 8 cents to 83 cents as of 8:00 am Pacific…

Dynasty Gold (DYG, TSX-V)

As we mentioned last week, there are some interesting situations on the Venture trading at a nickel or less, and out of all those companies there are sure to be some significant winners in 2013…one of them, possibly, could be Dynasty Gold (DYG, TSX-V) which has kept its burn rate very low this year to preserve a decent cash position ($1.5 million)…the company recently picked up a new project, the Strike Property (Gold-Copper-Silver-Lead-Zinc) in the Stewart Mining Camp of B.C., and reported very encouraging sampling results from there last week…in addition, it’s worth noting that Dynasty also holds a Gold asset with a NI-43-101 resource in in the world class Tian Shan Gold Belt in China…as stated on the company’s web site, Dynasty “is in the process of negotiating with various Chinese interested parties in the disposition of this asset”…so Dynasty is not one of those companies trading under a nickel that has a cash problem….it has secured an interesting new property and may be able to add to its treasury if it’s able to complete a sale of its Chinese asset…DYG closed yesterday at 4 cents, and below is an updated chart from John…

Adventure Gold (AGE, TSX-V)

Adventure Gold (AGE, TSX-V) came out with its first resource estimate yesterday for its Pascalis Gold Property near Val d’or…SGS Canada confirmed a very respectable inferred resource totaling 770,000 ounces of Gold in 9.13 million tonnes grading 2.63 g/t…SGS suggested the inferred resources have significant prospects for production with surface and underground bulk mining techniques…Pascalis is surrounded by excellent infrastructure (a currently existing 340-metre-deep shaft, underground development drifts on five levels, industrial access road, power line, a railway within 1.5 kilometres and custom milling facilities in Val d’or)…it’s adjacent to the past-producing J.C. Beliveau mine which historically was a low-cost producer, and Richmont’s (RIC, TSX) producing Beaufor Mine is also right next door…AGE bucked the overall trend yesterday by climbing 3 pennies to 34 cents…below is an updated 2.5-year weekly chart from John…the overall pattern looks bullish at the moment but AGE, like many other stocks and the Index as well, still needs to overcome its down trendline in place since last year…

Mineral Mountain Resources (MMV, TSX-V) Chart Update

Well-funded Mineral Mountain Resources (MMV, TSX-V) is still looking strong as it continues to work on its Holy Terror Gold Project in Utah…below is an updated 2.5-year weekly chart from John…as of 8:00 am Pacific, MMV is off 2.5 cents to 36 cents…

iSign Media Solutions (ISD, TSX-V)

One non-resource company on the Venture we’ve been intrigued with over the past year-and-a-half is iSign Media Solutions (ISD, TSX-V) which is up significantly this morning after announcing an agreement with GraphicMediaInc which has been appointed as iSign’s exclusive distributor throughout North, Central and South America (and in any other global locations arising from the needs of their customers through existing reseller agreements)…the agreement is for a five-year period subject to minimum performance/revenue, renewable for an additional five years…Graphic has been working with iSign and is in negotiations with several major end users for iSign’s Smart Antennas and related software…as part of the agreement, Graphic has signed an initial purchase order for $3-million, representing 6,000 Smart Antennas to be delivered within the next six months…below is an updated ISD chart from John through yesterday…

Note:  John holds share positions in RBW and DYG while Jon holds share positions in RBW, GQC and DYG.