Gold has traded between $1,322 and $1,345 so far today…as of 7:35 am Pacific, bullion is down $8 an ounce at $1,328…Silver is off a dime at 21.68…Copper is up a penny at $3.30…Crude Oil is down $1.51 a barrel to $101.34 while the U.S. Dollar Index has retreated one-tenth of a point to 80.19…
Interesting headline on CNBC’s web site this morning – “U.S. Budget Uncertainty May Limit Gold’s Decline”…according to CNBC’s latest survey of traders, analysts and strategists (16 of them), “Spot Gold prices are likely to fall this week though declines may be limited by investors seeking a safe haven as fears of a government showdown loom.”
What Gold does on a day-to-day or week-to-week basis is almost impossible to predict, but bullion could actually really start to shine again in Q4 as debt issues come more into focus and investors also start to realize that the Federal Reserve is in a trap that it likely won’t be able to easily escape from which means the prospect of “tapering” could stretch out to sometime in 2014…meanwhile, the Fed’s balance sheet continues to expand by $85 billion a month…
A partial U.S. government shutdown, even for a few weeks, is not a big deal…the last one occurred in late 1995-early 1996 and lasted 21 days…historically, there have been 17 U.S. government “funding gaps” and shutdowns since 1976, ranging in length from 1 to 21 days…The Wall Street Journal reported over the weekend that the average decline in the S&P 500 during 1 of these periods lasting 10 days or more was about 2.5%…for those lasting 5 days or fewer, the average decline was 1.4%…
What’s unique about this situation, of course, is that it’s part of a bigger picture which is a nasty fight over the roll of government in American society (Obamacare is very much at the centre of this particular debate) and the fact Washington is on the verge of maxing out its $16.7 trillion credit card…Congress must approve an increase in the debt ceiling during the last half of October or the U.S. may begin to default on some of its debts…don’t discount the possibility of that happening…some politicians may actually want to trigger that kind of an event in order to bring the debt issue to the forefront of public debate…
For what it’s worth, below is a chart showing how Gold has performed during previous U.S. government shutdowns…Gold started climbing about halfway through the last shutdown but the move was still modest (about 7%) as bullion jumped from the high $380’s and peaked at $415 about a month after the shutdown ended…other factors may have contributed to Gold’s strength at that time…we’re in a totally different situation right now, and the wild card is obviously the debt ceiling issue (we saw what happened in August 2011) which has the potential of driving Gold significantly higher in the event of a government default or even the imminent threat of one…
China To Ease Gold Import/Export Restrictions
Reuters reported this morning that China’s central bank is planning to increase the number of firms allowed to import and export Gold and will also ease restrictions on individual buyers of the precious metal, according to a draft policy document issued today…the proposed policy change could boost imports by China which is expected to overtake India this year as the world’s top Gold consumer, and where Gold normally trades at a premium to London spot prices…a shortage of Gold in China earlier this year when a steep fall in prices sparked a surge in demand could have been a factor in easing the rules…
Interesting comments from Frank Holmes (www.usfunds.com) in his weekly Investor Alert regarding the recent Denver Gold Forum…“The Denver Gold Forum brought a certain dose of optimism to the sector, but as Dorothy Kosich of Mineweb reports, times are changing in the Gold sector and more clear, visionary leadership is needed. As chief executive ranks dwindle, it becomes evident there are few up-and-coming leaders that exhibit the creative innovation of the legendary CEO’s who made everyone listen. The Denver Gold Forum left us with numerous homogeneous presentations and cookie-cutter formulas for success. But, according to Kosich, there is hope the optimism engendered by this year’s forum translates into the emergence of young, visionary, caring leaders from within the sector who can replace the status-quo rhetoric with refreshing transparency.”
IAMGOLD Corp. (IMG, TSX) President and CEO Stephen J. Letwin told Kitco News at the Denver Gold Forum that there is a strong need for innovation in the mining industry…“Any industry, at some point, needs to reinvent themselves, or they die,” Letwin stated. “You have to take information and adjust to it – that’s what we (mining industry) need to do. We’ve got a high-cost business and we have to take the price down. That’s the reality, and you can ignore it for a while, which we did, and the consequence of that? The equities got smashed.”
Today’s Markets
China’s Shanghai Composite bucked the trend overnight, gaining 15 points to close at 2175…Japan’s Nikkei average fell 304 points or 2% while European shares are under pressure in late trading overseas…
The Dow, which has fallen in 6 out of the last 7 sessions, is off more than 100 points as of 7:35 am Pacific…the TSX is down just 26 points while the Venture has slipped 9 points to 943…
Prosper Gold Corp. (PGX, TSX-V)
Prosper Gold Corp. (PGX, TSX-V) was halted just prior to the open this morning, pending news which we assume will be initial drill results from the company’s Sheslay Cu-Au Porphyry Project in northwest British Columbia…a stellar hole or 2 from Prosper would be extremely helpful in terms of generating some exploration excitement and getting things moving on the Venture…much more on Prosper tomorrow after we’ve had a chance to digest the news, assuming it’s out later today…PGX last closed at 50 cents…
Garibaldi Resources Corp. (GGI, TSX-V) Update
Garibaldi has turned aggressive with a 1-2-3 punch, and as a result we’ll be digging deeper into this story with what we expect will be a fascinating interview this week with GGI President andCEO Steve Regoci…this interview could be a game-changer in terms of investors’ understanding of GGI as we explore 3 key areas…
1. Exploration has started at the Grizzly in the prolific Sheslay area – initial results due shortly from GGI, and of course initial drill results appear to be imminent from PGX;
2. Six holes drilled at Mexican Gold-Copper target, results due shortly – more drilling in Mexico during Q4;
3. Coal and graphite at Tonichi Project in Mexico – very interesting developments with the current coal income stream and graphite possibilities.
As we see it, Garibaldi fits perfectly into that small category of Venture companies (10% or less) with the working capital, the expertise, the properties, and the drive to succeed both on the ground and in the market…as a result, GGI has long-term success written all over it…in the immediate future, October could potentially be a breakthrough month featuring a new 52-week high given what the Sheslay Valley could deliver plus Mexico results and fresh activity there…our interview with Regoci will get right to the core of the value proposition with this company, and will help investors with their own due diligence…
As we’ve been reporting, the Sheslay area in northwest B.C. holds incredible potential for a major discovery as it’s under-exploited and right on trend with huge deposits to the southeast…meanwhile, the Garibaldi opportunity in Mexico is far greater than investors realize as for several years GGI has efficiently been narrowing down its very best prospects over a land position that now stands at approximately 1,000 sq. km…the initial fruits of that labor came in 2009 when Paramount Gold & Silver (PZG, NYSE) bought GGI’s Temoris Property…now, GGI is clearly on the edge of even greater success at 3 district-scale projects plus a recently acquired Gold property that has near-term small-scale production possibilities…our interview with Regoci will provide investors with a whole new perspective on Garibaldi’s initiatives in Mexico…
No warrants…clean share structure (no financings in 4+ years)…management holds 20%…strong working capital position ($4.5 million as per April 30)…
Canada Carbon Inc. (CCB, TSX-V) Updated Chart
Canada Carbon Inc. (CCB, TSX-V) met stiff resistance in the mid-30’s last week, but pullbacks on this volatile graphite play have proven to be good buying opportunities…below is an updated 3-year weekly chart from John…strong Fibonacci support exists at 25 cents (Fib. 38.2 retracement level)…CCB is unchanged at 27 cents on light volume as of 7:35 am Pacific…
Critical Elements Corp. (CRE, TSX-V)
Critical Elements Corp. (CRE, TSX-V) has been a strong performer since the end of July, more than doubling in price after closing Friday at 23 cents…John has an “awareness” chart this morning which shows that CRE is very close to an important resistance band between 24 and 25 cents with RSI(14) also approaching resistance…a pullback, therefore, appears likely, setting up a better potential entry point for interested investors…technically, a “cup with handle” pattern could be in the process of forming…if that’s the case, expect CRE to test support in the mid-to-upper teens…the 20-day moving average (SMA), currently at 19.5 cents, has provided strong support since early August, while the 50-day SMA is at 15.5 cents…
CRE is certainly worthy of our readers’ due diligence, and we’ve written about the company previously at BMR…it’s focused on rare metals/rare earths, particular tantalum, and its Rose lithium-tantalum deposit in Quebec is currently at an advanced exploration stage…“To the best of our knowledge, the Rose lithium-tantalum deposit is the only new economic, conflict-free, tantalum, industrial-scale source in the world,” stated President and CEO Jean-Sebastien Lavallee in a news release last week. “The recent robust recoveries and high-purity results from the optimization testing program prove the stand-alone class of the deposit, which has the potential to become a key source of strategic metal supply.”
CRE is unchanged at 23 cents as of 7:35 am Pacific…
Richmont Mines (RIC, TSX)
Keep a close eye on Richmont Mines (RIC, TSX) which has formed a double bottom reversal pattern…RIC of course has gone through a difficult period over the last year-and-a-half with the share price tumbling from a high of $13 in early 2012 to this year’s low of $1.32 September 20…the bad news is behind RIC now, and the company is doing well with its Island Gold Mine in Ontario by expanding high-grade resources at depth…could be a good turnaround story beginning in Q4…as of 7:35 am Pacific, RIC is unchanged at $1.49…
Updated Silver Charts
Short-Term Silver Chart
Long-Term Silver Chart
Note: John and Jon both hold share positions in GGI. Jon also holds a share position in PGX.
Bullmarketrun could be in for a huge influx of readers and posters,if the PGX results come out with major numbers and the market decides this is the new darling area of the mining industry.I don’t believe the market,overall,really even knows there is a play on the horizon here.That’s what could set all three stocks on a serious price explosion.
Comment by Jim Niles — September 30, 2013 @ 8:27 am
It was mentioned earlier that BMR ran a great board, much better than
Stockhouse. Well, i now have reason to disagree, when a post, which
was directed at me, in a degrading manner, obviously met their criteria
and was posted. This is not the first time i noticed degrading remarks
directed at others. Anyway, it leaves much to be desired & places this
board in the same category as Stockhouse. Someone from BMR owes me an
apology, when an untruth about me is spread via their medium.
Comment by Bert — September 30, 2013 @ 8:50 am
Sorry, Bert, it has been so hectic this morning we didn’t even notice that post – we’re not always in a position to immediately review every post. You’re exactly right, that was completely uncalled for….
Comment by Jon - BMR — September 30, 2013 @ 8:57 am
Jon
Thank you ! I accept yout explanation. There is no earthly reason
why someone should try to hurt others by spreading something
untrue. Surely, i am not being considered a drunk because i post
often, if so, i will have to cut back. I like a friendly argument,
but you should always see R ! at the end of my posts, which means
respectfully or regards. It appears obvious to me that there are
some, who don’t like President Obama, but that’s ok, but instead
of responding to what they post in the future, i will overlook
it. This may be difficult, but in order to have peace on this
site, i will try. R !
Comment by Bert — September 30, 2013 @ 9:11 am
?? ? What am i missing??
Comment by Greg J. — September 30, 2013 @ 9:51 am
Greg J,
Bert posted the following last night and another poster did not like it and posted some disparranging remarks about Bert. which rightfully have been deleted by BMR.
Yesterday was COFFEE day in the U.S.
Today is TEA day
Tea party day that is. Can you believe that so called intelligent individuals
can be so irresponsible.
I can’t wait for the day when CRUZ loses his Canadian citizenship, the U.S.A.
is welcome to all of him, every last ounce. R !
Comment by Bert — September 30, 2013 @ 3:19 am
Comment by Greg — September 30, 2013 @ 10:13 am
BMR, what do you think is causing the longer than normal halt on PGX – if it is results they are about to release? Hopefully the results are so spectacular, they are preparing for a media frenzy? LOL
Comment by Dan — September 30, 2013 @ 10:47 am
It can only be good IMHO.
Comment by Jon - BMR — September 30, 2013 @ 10:53 am
I loaded up on DBV this morning and am in the black already.All three stocks will go on a hard run,if the results sparkle!
Comment by Jim Niles — September 30, 2013 @ 12:57 pm
Prosper Gold Drill Confirms Star Porphyry Copper Gold Discovery: Sheslay Project-Northwestern BC
September 30, 2013
QUESNEL, BRITISH COLUMBIA–(Marketwired – Sept. 30, 2013) – Prosper Gold Corp. (“Prosper Gold” or the “Company”) (TSX VENTURE:PGX) is pleased to report results from the first three drill holes of a six hole 2339.74 metre drill program completed on the Sheslay porphyry copper gold project (the “Property”) located in northwestern British Columbia. This follows the previously announced qualifying transaction with Firesteel Resources Inc. (May 7, 2013 news release) in which Prosper Gold may acquire an 80% interest in the 6,829 hectare Property.
Drill Program
Drilling during late August and September focused on the Star, the most advanced of five targets. The drilling confirmed the results of the historic drilling and tested for mineralization continuity to depth.
Assay results for the holes are tabulated below. Details are given on the company website at ProsperGoldCorp.com.
DDH
From(m) To(m) Intersection(m) Cu % Au gpt Ag gpt Cu Eq %*
S024 4.88 317.04 EOH 312.16 0.37 0.24 0.69 0.84
incl 4.88 82 77.12 0.66 0.55 1.11 1.02
incl 82 115 33 0.21 0.11 0.38 0.28
incl 115 201 86 0.34 0.16 0.38 0.45
incl 201 251 50 0.18 0.06 0.35 0.23
incl 251 287 36 0.38 0.19 0.7 0.51
incl 287 317.04 30.04 0.21 0.11 0.42 0.28
S025 7 276 269 0.42 0.20 0.61 0.88
incl 7 22 15 0.13 0.05 0.27 0.27
incl 22 259 237 0.46 0.22 0.65 0.95
incl 140 161 21 0.83 0.46 1.12 1.13
incl 259 276 17 0.17 0.06 0.32 0.32
S026 11 274 EOH 263 0.35 0.15 0.63 0.71
incl 11 108 97 0.19 0.06 0.36 0.23
incl 108 273 165 0.44 0.20 0.78 0.57
Widths reported are drill widths; true widths are unknown. Assays are uncut, length-weighted average values.
*Copper equivalent (Cu Eq%) values are given for illustration to express the aggregate content of copper, gold and silver as a percent copper. This is calculated assuming 100% metal recovery using metal prices of US$3.00/lb Cu, US$1,300 per troy ounce Au and US$20 per troy ounce silver. The calculation used is CuEq=Cu%+(Au g/t*0.632)+(Ag g/t*0.0097).
The holes intersected highly altered, strongly veined and pervasively mineralized medium andesite and related volcano-sedimentary rocks. They are correlated with the Late Triassic Stuhini Group. The rocks are intensely, irregularly and intricately fractured and broken on centimeter to millimeter scales. Alteration and mineralization are facilitated and in part localized by the fractures. A range of alteration types and vein styles is seen. Alteration includes silicification, potassic Kspar and biotite, magnetite, sericite, epidote and chloritization. Veins include B type quartz veins and D type pyrite veins. Alteration and veining are pervasive and intensity ranges from mild to strong; fresh rocks are rare. Disseminated and fracture controlled chalcopyrite is the primary mineral of interest.
The assay results reveal strong correlation between copper, gold and silver in each drill hole. Results also demonstrate that Cu-Au-Ag mineralization is independent of rock type. Notable is that mineralization is generally stronger where magnetic susceptibility is elevated. Magnetite alteration in veins, fracture fills and replacements is common where the susceptibility is elevated.
“Pending drill holes have confirmed copper bearing porphyry style mineralization to a depth of 598m from surface. This is the deepest confirmed mineralization to date. Results for the remaining three drill holes will be released when available,” said Peter Bernier, President and CEO.
Quality Assurance/Quality Control
Prosper Gold has applied a rigorous quality assurance/quality control program at the Sheslay porphyry copper gold project using best industry practice. The core is logged; spot XRF measurements are made directly on the core at 33 cm intervals and magnetic susceptibility measured at 10 cm intervals. Drill core is sawn in half lengthwise at the property and for each metre half of the core is placed in plastic bags and sealed. The remaining half core is retained in core boxes stored at the project. The program includes chain of custody of samples from drill to laboratory.
A standard sample, a blank sample, or a duplicate sample is inserted into the sample stream every tenth sample. Two certified ore assay laboratory standards used in the process were supplied by CDN Resource Laboratories Ltd., an independent laboratory located in Langley, BC. In total, 107 quality control samples (about 10% of 1087 samples) were analyzed. Prosper Gold detected no significant QA/QC issues in reviewing the results.
Samples, including those for quality control, are shipped to ALS Minerals’ preparation lab in Terrace, B.C. Samples were analyzed at ALS’s ISO 9001:2008 certified North Vancouver laboratory for gold by fire assay and ICP-AES finish, and for 48 elements including copper, molybdenum and silver by ICP-MS using four acid digestion.
Qualified Person
The technical information in this news release has been reviewed by Dirk Tempelman-Kluit, PhD, P.Geo., a Qualified Person under National Instrument 43-101
For a detailed overview of Prosper Gold please visit ProsperGoldCorp.com
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Bernier, President & CEO
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms of the Option Agreement, exploration potential of the Property and terms of the proposed financing are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Prosper Gold Corp.
Peter Bernier
President & CEO
(250) 992-6644
pete@prospergoldcorp.com
ProsperGoldCorp.com
Comment by Martin — September 30, 2013 @ 1:16 pm
incl 4.88 82 77.12 0.66 0.55 is a pretty good start, what do you think Jon?
Comment by Martin — September 30, 2013 @ 1:23 pm
Excellent start for PGX with consistent, long intersections of Cu-Au porphyry mineralization – 312 m of 0.37% Cu, 0.24 g/t Au; 269 m of 0.42% Cu and 0.20 g/t Au; and 274 m of 0.35% Cu and 0.15 g/t Au. What’s particularly significant is that PGX has extended mineralization to depth at Sheslay – this is very important, as the average length of Firesteel’s 2 dozen holes at the Star target was only about 175 metres and just 2 holes were drilled below 300 m (about 330 m). Hole #4 – with assays coming – intersected mineralization from surface to 598 metres – this could be a barnburner of a hole, and should reveal a lot about this system.
What differentiates PGX from CXO is that PGX’s best holes are likely yet to come, while CXO started very strong with its 1st hole and hasn’t been able to replicate that success so far. Shaping up as we hoped it would – the beginning of a potential major discovery in an under-exploited part of the prolific Stikine Arch.
Comment by Jon - BMR — September 30, 2013 @ 1:28 pm
general impression of results – my geo buddy states that 2% is the target for copper… rule of thumb..
still applies guys????
Comment by JeremY — September 30, 2013 @ 2:15 pm
If this is based on a post about stop bashing and do your DD…..it wasn’t directed to anyone but in general over comments directed about bmr research over the past few months. If I offended you bert…I apologize. …didn’t mean too. I always enjoy reading your insightful comments.
Comment by alex — September 30, 2013 @ 2:30 pm
See below. Your geo buddy doesn’t understand Cu-Au porphyry deposits if he’s talking about a “2%” Cu target. Red Chris is going into production next year with robust economics and average reserve grades of 0.36% Cu and 0.27 g/t Au, which basically matches the grades from PGX’s first 3 holes. Tonnage obviously is key. These deposits along the Stikine Arch can be massive.
Comment by Jon - BMR — September 30, 2013 @ 2:44 pm
thus the tag line Jon… he is as old as us:) LOL…. he was the main geo for various companies including Kinross..
When Noront …. and then I NOW remember that the 2% is nickel??? man that was 6 years ago…
I sure dont want to lead anyone astray… would that make more sense JOn??
I’m almost as old as bert!!!:) almost!:)
Comment by JeremY — September 30, 2013 @ 3:22 pm
2% NI, yes, Jeremy. That makes a lot more sense.
Comment by Jon - BMR — September 30, 2013 @ 3:24 pm
thx mate…. thats where it came from… to the list… please excuse the lack of recall…. my memory is fine tho!!:)
Comment by JeremY — September 30, 2013 @ 3:28 pm
Anybody listen to the GGI live presentation this evening? If so, what did management have to say?
Thanks,
Comment by DanI — September 30, 2013 @ 3:31 pm
(598m this hole could be a barnburner of a hole) That make sense,they did not put core pict on their web site of these 3 holes, Then Mr Tempelman see hole 4 and above and decide to put core photo on their web site, so result to come should be better with larger intersection of course 🙂
Comment by Martin — September 30, 2013 @ 3:36 pm
Listen to half of (last half), plenty of think we already knows, they say Grizzly will get busy this quarter,
Comment by Martin — September 30, 2013 @ 3:40 pm
The market always wants the next holes to be better than the last; that has been Colorado’s problem to date. With PGX, they have delivered very nice results right off the bat – consistent, long intersections – and even better numbers are likely given that the 4th hole went to 598 m. That, I suspect, will be the “glory hole” in the early round. The deepest hole ever drilled on this property, and it intersected mineralization from top to bottom. Looks like the 5th and 6th holes were each drilled to more than 400 metres depth, so those will be interesting as well. The last 3 holes went deeper, a sign that they saw something a little different. This is the discovery part – Cu-Au mineralization at depth on the Sheslay. Excellent start for PGX and the market will respond favorably tomorrow.
Comment by Jon - BMR — September 30, 2013 @ 3:49 pm
GGI LOOKS GREAT TOO!
Comment by STEVEN — September 30, 2013 @ 4:27 pm
News just out from GGI, wow, busy day. Read this closely – GGI is not saying the Sheslay extends onto the Grizzly; they’re saying the rock units underlying the Grizzly extend NORTH on to the Sheslay. Interesting twist. What GGI seems to be implying is that the Sheslay Valley system may actually originate on the Grizzly. Two parallel faults extend 15 km on the Grizzly and appear to be related to Copper-Gold occurrences on BOTH properties.
From GGI NR: “A preliminary review of the combined data confirms that the rock units underlying the Grizzly extend north on to the Sheslay property, and shows two parallel faults (extending 15 kilometres from Grizzly West, to Grizzly Central) that appear to be related to porphyry copper-gold occurrences on Sheslay and Grizzly West. Additional processing of the data is continuing, and results will be announced as they become available.”
This is going to get REALLY interesting.
Comment by Jon - BMR — September 30, 2013 @ 4:47 pm
CRI seems to show some sign of life too.
Comment by Martin — September 30, 2013 @ 4:47 pm
Jon went will we get the complete interview with Mr tempelman?
Comment by Martin — September 30, 2013 @ 4:49 pm
Yes, over the next couple of weeks! The interview was 1 hour. Dirk was unbelievable. We’re going to be using short excerpts.
Comment by Jon - BMR — September 30, 2013 @ 4:52 pm
Greg Thanks for the reply this morning!!
Comment by Greg J. — September 30, 2013 @ 5:00 pm
Jon, have a look at Highbank Resources sometime.HBK-V…soon to be gravel operation. Thanks
Comment by Greg J. — September 30, 2013 @ 5:20 pm
In the release they mention the attached map of the aeromagnetic survey. I don’t see it. Anybody else?
Comment by Dan — September 30, 2013 @ 5:38 pm
THANKS JON! GGI IS GOING TO ROCK TOMORROW!
Comment by STEVEN — September 30, 2013 @ 5:48 pm
Regarding GGI’s NR., the highlight in my opinion, is that 3 officers of the
company appear not to have been satisfied with their share allotment, thus
participated in a small PP at 0.15, a premium to the market. The $50K PP is
now closed & i would expect the stock to reach 0.15 or more tomorrow. The
move by the 3 officers certainly gives us a good chance of profiting with
this play, one way or another. R !
ALEX – You have never ever posted anything that hurt me, an apology is not
necessary. R !
Comment by Bert — September 30, 2013 @ 5:49 pm
Dan, go to newswire.ca and search for the GGI news release there. Just looked at the mag photo – awesome. Two parallel faults running 15 km from Grizzly West to Grizzly Central, and impacting mineralization at both the Sheslay and the Grizzly, that’s new information and hugely significant.
Comment by Jon - BMR — September 30, 2013 @ 6:05 pm
Bert… you are and always will be a gentleman!! albiet without a secure memory:)
you are liked man!!
Comment by JeremY — September 30, 2013 @ 7:01 pm
I can’t believe they halted on such mediocre results.
Comment by Ivan — September 30, 2013 @ 7:13 pm
Hardly mediocre, Ivan. Read up on Red Chris. These are the type of intersections (widths and grades) that help build a mine. Sheslay is also showing consistency of mineralization, and PGX has also demonstrated that this system goes to depth. This has a very good feel to it. And a market cap of just $12.5 million pre-halt. That’s below CXO, and Sheslay is superior to North ROK IMHO and more advanced when one considers the historical drilling. So PGX is off to an excellent start and the market can begin to speculate on the next set of holes which it appears could deliver even better numbers. Prosper’s 4th hole (S027), drilled to a depth of 598 metres, could be particularly interesting with Cu-bearing porphyry mineralization from surface to the bottom of the hole.
Comment by Jon - BMR — September 30, 2013 @ 7:47 pm
Jon,I realize you are mainly covering GGI and PGX in the Sheslay area,but DBV appears to believe they may be a big player here also.Could you do an interview with Farshad Shirvani and get his viewpoint on HAT.I think they may be more than just a hope and a prayer,once the drilling into their anomolies truly begins.Supposedly they are getting much higher IP readings than PGX got.Could be interesting.
Comment by Jim Niles — October 1, 2013 @ 2:33 am
Hi Jim, you bring up a very valid point – the Hat Property is certainly intriguing, and we’re watching it closely. The Grizzly has scale to it, and a “heat engine” (the Kaketsa Pluton) that has impacted the entire area. There are of course other factors including share structure and working capital that figure into the equation when looking at these things, and the expertise a company has on the ground and in the market, and those are contributing factors to our focus on PGX and GGI. They are clearly the 2 leaders in the area. But that’s not to say something could develop elsewhere, so we’re watching closely.
Comment by Jon - BMR — October 1, 2013 @ 3:04 am