Happy New Year, everyone…Gold is starting 2013 on a positive note…as of 7:50 am Pacific, the yellow metal is up $16 an ounce at $1,691…Silver has jumped 84 cents to $31.19…Copper has rocketed 14 cents higher to $3.72…Crude Oil is up $1.80 a barrel to $93.62 while the U.S. Dollar Index has fallen one-quarter of a point to 79.49…
Markets are cheering the “fiscal cliff” deal approved by the U.S. Congress, though the agreement leaves many issues unresolved including the U.S. debt ceiling which will likely need to be raised from its current $16.4 trillion to approximately $18 trillion by the end of the first quarter…
Asian markets were strong overnight, European shares are up 2% today while North American equity markets are also flying high…as of 7:50 am Pacific, the Dow is up 235 points to 13339, the TSX has climbed 69 points to 12503 while the Venture Exchange has easily cleared the 1220 resistance level and is up 18 points at 1239…as John’s charts have shown, there’s important resistance in the 1260-1275 area – right around the 100 and 200-day moving averages (SMA’s) and the top of a down trendline that has been in place since early 2011…we have little doubt the Venture will blast through this down trendline at some point in January or February (patience will be required) which should signal the beginning of a substantial new uptrend…from a technical standpoint, our outlook for the Venture for 2013 is very positive…
We continue to be on an abbreviated postings schedule until Monday, January 7…
John has three charts this morning beginning with the TSX Gold Index (an updated Venture chart was posted Sunday) which is coming off two poor years (2011 and 2012) but appears ready to bounce back…buying pressure has been strong since July…
ATAC Resources (ATC, TSX-V)
ATAC Resources (ATC, TSX-V) continues to rebound from strong support at the December 24 two-and-a-half year low of $1.54…selling pressure has been intense since October, but RSI(14) is beginning to rebound out of oversold conditions…this appears to be a good bottom-fishing opportunity as the best Yukon plays became heavily oversold in December and should rebound during the first half of 2013…below is a 2.5-year weekly ATC chart from John…as always, perform your own due diligence…as of 7:50 am Pacific, ATC is up 4 cents at $1.78…
Kaminak Gold (KAM, TSX-V)
Our other Yukon favorite is Kaminak Gold (KAM, TSX-V) which was a tremendous bottom-fishing opportunity last month when it briefly dipped just below $1 a share on an intra-day basis before releasing its maiden NI-43-101 resource estimate for its Coffee Project…it’s now approaching its 100 and 200-day SMA’s between $1.75 and $1.80 where strong resistance (for now) can be expected…as of 7:50 am Pacific, KAM is down 12 cents to $1.53…below is a 2.5-year weekly chart from John…look for the 20-day SMA to provide support (currently at $1.35)…
Note: John, Jon and Terry do not hold positions in ATC or KAM.
Would stay away from Yukon plays.. no news till drilling starts in 6 months…better plays out in market JMHO
Comment by James — January 2, 2013 @ 8:25 am
Looks like ggold viking news on thurs. richard l
Comment by richard l — January 2, 2013 @ 9:54 am
Jon… in a world of sound bytes and small time frames for reading, would RBW have been better off reporting 14 g/t instead of .5?? many may miss the ‘OZ’ and assume ‘GM’ …
just sayin!!!
Comment by Jeremy — January 2, 2013 @ 10:23 am
not sure what you mean, Jeremy, they reported 17.3 g/t Au (0.51 oz/ton) on the gold assay…
Comment by Jon - BMR — January 2, 2013 @ 10:26 am
Jon I’m no expert, but RBW at least hit something here – are these good numbers or simply encouraging? Any insight?
Comment by alex — January 2, 2013 @ 10:29 am
Not sure why but here …http://finance.yahoo.com/news/rainbow-drills-near-surface-gold-181600238.html the oz and feet are reported… thats the only one I saw… then it showed up on Kitco with g/t…. oh well…. 🙂 but thats where it came from:)
Comment by Jeremy — January 2, 2013 @ 10:30 am
Looks like RBw assays have the market in a feeding frenzy!!!!
Comment by Heath — January 2, 2013 @ 10:47 am
That’s the American version of the news release from the OTCQX. You can see it on Stockwatch.
Comment by Jon - BMR — January 2, 2013 @ 10:49 am
And down she goes, maybe they better stop releasing results!!!!!!!
Comment by mark — January 2, 2013 @ 10:52 am
It may take a couple of days but some smart people are going to pick up on the significance of these results. What RBW indeed could be on to is a very rich ore shoot that dips steeply to the east, based on these results. The map is interesting. The high-grade intercept very close to surface in hole #4 means that this vein system likely extends to the east, and in this particular area of the Slocan Valley you can get some very rich ore shoots and different types of deposits. Keep in mind, this property had never been drilled before. They’ve hit a vein system, perhaps just the edges of it, and now the trick is to follow where it’s leading. This is going to get very, very interesting.
Comment by Jon - BMR — January 2, 2013 @ 11:08 am
thx Jon…. guess the yanks dont get metres:)
Comment by Jeremy — January 2, 2013 @ 11:17 am
I guess not. I think RBW may have been wiser to put this news out Monday when all the traders and investors are back from holidays, and there are more eyes on it, but this will circulate nonetheless and gain traction I’m sure. That’s a great intersection in hole 4 ($1,000 a ton rock) and where there’s smoke, there’s usually fire. Keep in mind that all of those silver assays are based on a 100 g/t minimum. They will all go higher on the re-check, because they have already been determined to be higher than that 100 g/t over-limit. Next door at the Ottawa Property, they were mining Silver at 61 ounces per ton. So the grades in this region can get very high. If Rainbow can pull off bringing a drill rig back in the next few weeks to Gold Viking, look out.
Comment by Jon - BMR — January 2, 2013 @ 11:26 am
strike two RBW. One more and your out.
Comment by sean — January 2, 2013 @ 11:34 am
This is certainly no strike 2 for RBW, Sean. Nor is it a home run but they’ve put some runners on base with this one.
Comment by Jon - BMR — January 2, 2013 @ 11:41 am
Thx Jon…. maybe the hangover is still ever present!!:) takes longer the older we get!
Comment by Jeremy — January 2, 2013 @ 12:07 pm
Jon, as I said, strike two. The market will not pay for these results.
Comment by sean — January 2, 2013 @ 12:15 pm
I love to see the bench warmers yapping more than the everyday players.
Comment by John — January 2, 2013 @ 2:01 pm
Fantastic Day for the venture. Does anyone remember the last time the venture gained over 18pts in one day? Maybe you can help me out here bmr?
Comment by Tony T — January 2, 2013 @ 2:03 pm
Its that time of year to name your favorite stock or stocks for 2013.My stock pick is cgj finding gold at a cost of 3 dollars per ounce soon to have 7 million ounces of gold selling at market cap of 28 million. Higher grade gold at 1.5 ounces per ton may go up to 2 ounces per ton in a good location money in the bank whats not to like .my past picks from sept are down 23 percent a time of big time sell off of gold stocks Iam very interested to see the members of this board stock picks
Comment by gil — January 2, 2013 @ 2:59 pm
People seem to forget that the Yukon plays that have a resource (i.e. Kaminak Gold) have something very unique in this market. If I am not mistaken, the resource estimate for KAM has a 3 figure to it. I am long shares of Kaminak Gold and Golden Predator and do not hold shares in ATAC.
Comment by Michael — January 2, 2013 @ 3:54 pm
give it up Jon
Comment by dave — January 2, 2013 @ 8:03 pm
Better change this website in RBWRUN. Seems the only topic being discussed here…
Comment by Arjan — January 3, 2013 @ 1:08 am
jon does bmr still follow cui? they appear to have anew man in charge and a couple new directors. what about this new project in south africa. happt new year regards walter emond
Comment by walter emond — January 3, 2013 @ 1:26 am
CUI’s new project looks interesting. We’ll be keeping an eye on it. They need to submit a 43-01 to the exchange and complete a financing.
Comment by Jon - BMR — January 3, 2013 @ 6:10 am