$EXSFF..DRILLING AT KIDD!! With far more certaint
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Posted On: 01/23/2017 11:22:15 AM
$EXSFF..DRILLING AT KIDD!! With far more certainty than ever before, the drill is turning at Kidd! Over this past weekend, the Company moved a deep drill rig & crew onto the property adjacent to, and north of the Glencore Kidd Mine. The new drilling is 25meters north of Hole#3 reported last year. The Down Hole IP produced a very interesting anomaly at the roughly 600meter level, which this drill is targeting at an inclination of +.75 in a southerly direction. The crew & management believe, barring any problems, 100meters will be achieved daily the next five days, and roughly 75meters daily thereafter. At that pace, we should get to the really ‘interesting’ stuff by next Monday, or Tuesday. Last summer, we encountered graphitic argillite, massive sulphides, exhalite, and some zinc, so obviously, a VMS deposit is in play. Secondly, further indications at the Chester property in New Brunswick are exciting as well, and I’m expecting a further announcement from the Company, hopefully by Friday, potentially extending the westerly horizon of the known deposit. Lastly, a formal date and time for the Teck video conference to discuss the drilling plans at the TPW has not been finalized, but most definitely on the front burner, given GOLD’s recent rise. Speaking to that,
Kitco News, Jim Wyckoff, Jan23, 2017, The world marketplace is still anticipating moves from the new Trump administration on this first full week of his U.S. presidency. Trump has promised fast action on many fronts and that has traders and investors still a bit apprehensive, which is bullish for safe-haven GOLD.
The U.S. dollar index is weaker to start the new trading week. There are some early technical clues that the dollar index has put in a market top. Prices have been trending lower for three weeks.
Seeking Alpha, Andrew Hecht, Jan23, 2017, GOLD is a barometer for fear and uncertainty on the global landscape. The dollar is the benchmark pricing mechanism for GOLD and there is an inverse relationship between the currency and the precious metal. We have seen lots of volatility in the dollar over recent weeks and it is likely that the price path of GOLD has been a result, at least in part, of that volatility.
Speaking to the US markets, I really liked this comment,
Pawoto Investments. Jan23, 2017
To be fair, I'm probably suffering from "confirmation bias" - i.e. looking for arguments to confirm my thinking - but the contrarian in me can't justify current market levels. To quote Mark Twain, "Whenever you find yourself on the side of the majority, it is time to pause and reflect." The bottom line? Risk is skewed to the downside because the market has fully priced in the good news it expects under Trump. There is an old saying on Wall Street, "Buy the rumor, Sell the news". More recently, the saying has morphed into "Buy the election, Sell the inauguration", that will prove to be the trade of 2017.
Kitco News, Jim Wyckoff, Jan23, 2017, The world marketplace is still anticipating moves from the new Trump administration on this first full week of his U.S. presidency. Trump has promised fast action on many fronts and that has traders and investors still a bit apprehensive, which is bullish for safe-haven GOLD.
The U.S. dollar index is weaker to start the new trading week. There are some early technical clues that the dollar index has put in a market top. Prices have been trending lower for three weeks.
Seeking Alpha, Andrew Hecht, Jan23, 2017, GOLD is a barometer for fear and uncertainty on the global landscape. The dollar is the benchmark pricing mechanism for GOLD and there is an inverse relationship between the currency and the precious metal. We have seen lots of volatility in the dollar over recent weeks and it is likely that the price path of GOLD has been a result, at least in part, of that volatility.
Speaking to the US markets, I really liked this comment,
Pawoto Investments. Jan23, 2017
To be fair, I'm probably suffering from "confirmation bias" - i.e. looking for arguments to confirm my thinking - but the contrarian in me can't justify current market levels. To quote Mark Twain, "Whenever you find yourself on the side of the majority, it is time to pause and reflect." The bottom line? Risk is skewed to the downside because the market has fully priced in the good news it expects under Trump. There is an old saying on Wall Street, "Buy the rumor, Sell the news". More recently, the saying has morphed into "Buy the election, Sell the inauguration", that will prove to be the trade of 2017.
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