Gold has traded between $1,658 and $1,667 so far today…as of 6:20 am Pacific, the yellow metal is down $1 an ounce at $1,660…Silver is off 13 cents at $30.28…Copper is up 3 pennies at $3.67…Crude Oil is up slightly at $93.29 while the U.S. Dollar Index has jumped one-third of a point to 80.61…
This is an abbreviated edition of Morning Musings due to travel and special assignment work by our crew today…
Updated Gold Chart
The interesting thing about Gold recently has been its ability to hold the $1,648 support level on a closing basis…for the past six months, Gold has been trading in a downsloping channel but buying pressure is on the increase and the RSI(14) trend is positive…we remain in the bullish camp as we see plenty of upside potential during this first quarter and throughout the year…too many fundamental factors continue to underpin Gold…
Today’s Markets
Asian markets were mixed overnight with China’s Shanghai Composite relatively unchanged at 2275…European shares are off session highs in early afternoon after figures released for German industrial output failed to live up to expectations…stock index futures in New York are pointing toward a positive open on Wall Street…
The Venture Exchange continues to hold above support at 1220…momentum in this market should pick up once the Index is able to push through important resistance at 1240…
Canadian Dollar Chart Update
There is a strong correlation between the Venture, and Canadian equities in general, and the Canadian dollar which continues to look very bullish…below is a fresh 6-year monthly chart from John that shows how the dollar staged an important breakout last summer, right around the time the Venture started its 200-point rally…the dollar pulled back a little in the fall, but now appears ready to burst higher – just one more reason we believe the Venture’s recent modest rise will start to gain some serious traction at some point during this first quarter…
Castle Resources Inc. (CRI, TSX-V) and Carlisle Goldfields Ltd. (CGJ, TSX)
John has chart updates this morning on two companies worthy of our readers’ due diligence that we’ve highlighted previously – Castle Resources Inc. (CRI, TSX-V), working on its Granduc Copper Project near Stewart, B.C., and Carlisle Goldfields Ltd. (CGJ, TSX) which has five Gold deposits in the Lynn Lake Greenstone Belt in northern Manitoba…
Castle Resources Inc. (CRI, TSX-V)
Carlisle Goldfields Ltd. (CGJ, TSX-V)
Note: John, Jon and Terry do not hold positions in CRI or CGJ.
Hello BMR and all friends
Seems very quite. Any idea why selling presure increasing on RBW. Now 0.125
Comment by Eric Benson — January 9, 2013 @ 12:44 pm
RBW getting creamed. I’m sure BMR will say that they are bullish
Comment by OldMan — January 9, 2013 @ 12:48 pm
Seems like people loosing faith in rbw. Hope this turn around soon.
Comment by Kalkan - Sweden — January 9, 2013 @ 1:06 pm
Some news to cheer us up. My nephew is a telecom and technology analyst at NatIxis in Paris. His section contributed 0 profit to the group because of excessive volatility.
Comment by Alexandre — January 9, 2013 @ 6:39 pm
watch EGE
Comment by dave — January 9, 2013 @ 7:24 pm
Look at the microjunior ALR.V. Great news yesterday and a really intresting interviem with chairman Don Dudek.
geckoresearch.com/Alder_Resources-Interview_with_Chairman_Mr_Don_Dudek
Comment by Deco — January 9, 2013 @ 11:57 pm
Are these the catalyst we’ve been waiting for?
China’s record iron ore imports.
reuters.com/article/2013/01/10/china-trade-commodities-idUSL4N0AF2TA20130110
China data spurs growth hopes
reuters.com/article/2013/01/10/us-markets-global-idUSBRE88901C20130110
Comment by Tony T — January 10, 2013 @ 6:05 am
BMR- This company was mentioned before. Can you offer any insight?
GTA Partners With Metals Creek Resources in Yukon
GTA Partners With Metals Creek Resources in Yukon
BURLINGTON, ONTARIO–(Marketwire – Jan. 10, 2013) – GTA Resources and Mining Inc. (“GTA”) (TSX VENTURE:GTA) is pleased to announce that it has entered into an Option Agreement with Metals Creek Resources Corp. (“MEK”) in which GTA can earn a 51% to 70% interest in MEK’s Squid East property in the Matson Creek area of Yukon Territory. The 82 claim Squid East property was initially staked by MEK in 2011 and there are no underlying royalties or other interests on the property.
To earn an initial 51% interest, GTA must make cash payments of $60,000 over three years ($20,000 due upon regulatory approval), issue a total of 2,000,000 GTA shares over three years (200,000 due upon regulatory approval) and incur work expenditures of $2,000,000 over three years ($500,000 firm including a minimum 400 meters of drilling by 1st anniversary). MEK will be the operator during the earn-in period. Once a 51% interest is earned by GTA, either a 51/49 joint venture will be formed, or GTA may elect to earn an additional 19% interest to bring its total property interest to 70%.
The terms to increase GTA’s interest from 51% to 70% include payment of $100,000 and 1,000,000 GTA shares within 120 days of the 3rd anniversary date and incurring an additional $1,000,000 in exploration expenditures by the 5th anniversary. GTA would assume operatorship once it had earned a 51% interest.
Late in 2012 MEK’s soil sampling program delineated a strong northwest trending gold plus pathfinder element anomaly located on the Squid East claim block. (see Metals Creek News Release dated 23 October 2012). Strong anomalous gold (Au) values are continuous between sample locations ranging from 15 ppb (parts per billion) to 1086 ppb. Associated with the gold assays are strong pathfinder element results which include silver (Ag) from below detection up to 78.5 parts per million (ppm), lead (Pb) from 5.3 up to 4493.5 ppm, arsenic (As) from 6.9 up to 50.9 ppm, Antimony (Sb) from 0.1 up to 241.2 ppm, Barium (Ba) from 133 up to 2370 ppm, and mercury (Hg) from below detection up to 36.32 ppm.
The anomaly has minimum dimensions of approximately 450m long by 200m wide and is coincident with a distinct northwesterly trending magnetic low. The anomaly is located in an area of moderate topography, within the unglaciated Dawson Range terrain. It is located upslope from the Matson Creek placer gold mining camp which is accessed via an airstrip and a four wheel drive ridge road originating from the “Top of the World” Highway west of Dawson City. Several other Au, As and Ba anomalies are also present within this mag low and will require additional follow-up sampling. The strength and size of this newly discovered anomaly is comparable to soil anomalies associated with the recent discoveries in the White Gold District and the associated pathfinder elements are similar to anomalies associated with these new discoveries.
Wayne Reid, President and CEO of GTA states, “We are very excited to finalize the terms of this agreement with MEK, to earn a substantial interest in the Squid East property. The potential of the property is demonstrated by a number of factors including the quality of the untested gold target, its location within the emerging White Gold District and its proximity to the Matson Placer Gold Camp. We look forward to the results from the upcoming field program which should culminate in a diamond drill program by late summer to test the gold target. Our main exploration efforts will continue to be directed at our flagship Northshore project, however, the Squid East gold target provides an excellent opportunity for GTA to expand its gold portfolio.”
Wayne Reid, P.Geo, President and CEO of GTA and a qualified person as defined in National Instrument 43-101, has reviewed the technical data outlined in this release and participated in the preparation of the information forming the basis for this release.
About GTA
GTA is a publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on gold exploration in Canada. GTA currently has two active gold projects with Squid East being its third. Its flagship project, the Northshore Project, located near Schreiber, Ontario, is subject to an option agreement with Balmoral Resources Ltd. (“BAR”) whereby GTA can earn up to a 70% interest. The second project, the 100% owned Auden Property, is located near Hearst, Ontario and consists of 1596 claim units covering virtually an entire greenstone belt.
GTA has 25,431,855 shares outstanding of which insiders control approximately 30% of the outstanding shares. GTA’s shares trade on the TSX Venture Exchange under the symbol “GTA”.
On behalf of the board of directors of
GTA Resources and Mining Inc.
N. Wayne Reid, President and CEO
Read more at stockhouse.com/bullboards/messagedetail.aspx?p=0&m=32002692&l=0&r=0&s=GTA&t=LIST#YGo5UPk4Hf6hO5Ys.99
Comment by Mike — January 10, 2013 @ 6:46 am