Friday, June 17, 2016

GOLD/SILVER AND ENERGY SUMMARIES...

CALGARY, ALBERTA--(Marketwired - Jun 17, 2016) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI) (OTCBB:CSPUF) is pleased to announce that it is increasing, subject to TSX Venture Exchange approval, its previously announced non-brokered private placement offering from $500,000 to $640,000. The private placement is comprised of a combination of common shares of the Corporation issued on a flow-through basis pursuant to the Income Tax Act ("Flow-Through Shares") at a price of $0.10 per Flow-Through Share and units of the Corporation ("Units") at a price of $0.10 per Unit. The offering will close in two tranches, the first of which occurred on June 1, 2016, and the second of which is expected to close by the end of June 2016.
The Flow-Through Shares issued pursuant to this placement will entitle, subject to various income tax considerations, Canadian investors to a renunciation in 2016 of Canadian Exploration Expense expenditures to be made by CSRI up to December 31, 2017 equal to 100% of their total subscription amount.
Each Unit will consist of one common share of the Corporation and one-half of one common share purchase warrant ("Warrants"). Each whole Warrant will entitle the holder to purchase an additional common share of the Corporation for a period of one year at an exercise price of $0.10 per share.
The Corporation may pay finder's fees of up to 6% in cash.
All the securities issued pursuant to the offering will be subject to a four-month restricted resale period under Canadian securities laws.
The net proceeds of the offering will be used to gather reservoir information at the Corporation's c-69-H/94-B-1 well that was drilled at Farrell Creek, British Columbia in the first quarter 2016, and for general corporate purposes.Energy Summary for June 17, 2016

Alberta gas producer Bonavista Energy Corp. (BNP) added seven cents to $3.23 on 3.09 million shares, regaining the six cents it lost yesterday after putting a cool $115-million in its pocket. It closed a bought deal (including the full exercise of the overallotment option) of 34.4 million shares at $3.35 each, boosting its share count to about 248 million. The proceeds will go toward debt reduction. Net debt was about $1.2-billion as of March 31. According to a new presentation on Bonavista's website, the company will be able to reduce debt by $239-million this year, assuming it uses the financing proceeds, currency hedges and excess cash flow. Bonavista is fairly confident in this year's cash flow because it has hedged more than four-fifths of its gas production and around three-quarters of its oil production over the rest of the year. This also gives it confidence in its one-cent monthly dividend, which yields 3.7 per cent. To bolster the balance sheet even more, and because it wants to focus on its 66,500-barrel-a-day liquids-rich gas assets in Alberta, Bonavista has been trying to sell its roughly 5,000-barrel-a-day non-core assets in the B.C. Montney. Given all that, TD Securities analyst Aaron Bilkoski hiked his price target to $4.25 from $3.25 in a bullish research note this morning, opining that "covenant concerns [are] likely a thing of the past" and Bonavista is "poised to outperform during a commodity price recovery." (Mr. Bilkoski's employer co-led the $115-million financing and is Bonavista's exclusive financial adviser for the marketing of the B.C. Montney asset.)

Gold Summary for June 3, 20162016-06-03 21:12 ET - Market Summaby Stockwatch Business ReporterNew York spot gold soared $33.10 to $1243.50 on Friday. The TSX Venture Exchange rose 15.39 points to 693.72 while the TSX Gold Index jumped 20.01 points to 230.04. Canadian gold miners followed bullion higher in a big way.Agnico Eagle Mines Ltd. (AEM) jumped $5.76 to $64.90 on 2.51 million shares and Kinross Gold Corp. (K) jumped 76 cents to $6.45 on 18.47 million shares.John McConnell's Victoria Gold Corp. (VIT), up four cents to 47 cents on 3.03 million shares, has received assays of 2.5 grams of gold per tonne over 45.7 metres in the Olive-Shamrock zone of its Dublin Gulch project in Yukon. The assays are from the latest 13 holes drilled this year. Results from 40 holes have now been received; assays from the first 27 were also encouraging with hits of up to 2.1 grams per tonne over 38.1 metres. Mr. McConnell, president and chief executive officer, says the results show Olive has the potential to become a high-quality deposit. As a result, Victoria is boosting its drill program to over 12,000 metres from 7,800 metres. It is unclear how much the additional drilling will cost. The original program carried a $3.6-million budget, but Mr. McConnell has been saying the work has cost less than expected.

Energy Summary for June 2, 2016

2016-06-02 20:18 ET - Market Summary
by Stockwatch Business Reporter
West Texas Intermediate crude for July delivery added 16 cents to $49.17 on the New York Merc, while Brent for August added 32 cents to $50.04 (all figures in this para U.S.). Prices were down in early trading after OPEC failed to reach an agreement on a production cap during today's meeting in Vienna. They then rallied after the market: (i) remembered that OPEC inaction was essentially a foregone conclusion; and (ii) saw new U.S. data showing both a drop in crude inventories and the lowest weekly crude production since September, 2014. Western Canadian Select traded at a discount of $11.80 to WTI ($38.24), down from a discount of $11.75. Natural gas for July added 2.4 cents to $2.405. The TSX energy index added 2.03 points to close at 189.89.

1 Year Natural Gas Prices - Natural Gas Price Chart

***looks like a turnaround today on this NG producer, up 37.5%

Canadian Spirit Resources Inc. [SPI]

[alternate symbol CSPUF]

HIGHLIGHTS [update May 30, 2016]
CSRI ended the first quarter 2016 with a strong working capital position and no debt.
Despite difficult equity markets, in December 2015 and January 2016 the Corporation raised a total of $3.5 million of equity capital to drill, in the first quarter 2016, a 100% working interest vertical stratigraphic test well at c-69-H/94-B-1 in West Farrell Creek for land retention and resource delineation, and for general corporate purposes.

The c-69-H/94-B-1 well was successfully drilled and cased, and was rig released on March 6, 2016 at a final total depth of 2,762 metres. The tenure on 8.35 sections of lands, CSRI (8 sections at 100%) and joint venture (1 section at 35%), has been extended for an additional 10 years. While drilling through the Doig and Montney formations, extremely high pressures were encountered. Although validation through further testing is required, the presence of these higher pressures could result in a larger natural gas resource in place than currently recognized on CSRI's 100% working interest lands. To that end, the Corporation announced on May 18, 2016 that it proposes to raise, via private placement, the funds necessary to complete the testing of the c-69-H/94-B-1 well during the third quarter 2016. The proximity of this land base to the Spectra Energy pipeline and existing, expandable infrastructure has the potential to match some of the most prolific natural gas production in the region.
As previously announced, the Corporation and its joint venture partner shut in their natural gas production at Farrell Creek effective March 31, 2016. The natural gas processing facility and associated wells will be reactivated once natural gas prices return to a profitable situation.
Management and the Board of Directors of CSRI are continuing to focus on and pursue strategic alternatives for the Corporation. These include but are not limited to considering alternative financing methods and meeting with potential acquirers or merger partners.
Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation's website at www.csri.ca.

http://www.csri.ca/


Gold Summary for May 27, 2016

2016-05-27 19:45 ET - Market Summary

by Stockwatch Business Reporter
New York spot gold fell $6.70 to $1,212.80 on Friday. The TSX Venture Exchange lost 11.39 points to 668.54 while the TSX Gold Index fell 5.03 points to 204.37. Canadian gold miners ended the week on a losing note. Kinross Gold Corp. (K) dropped 34 cents to $5.52 on 13.09 million shares while Iamgold Corp. (IMG) lost 23 cents to $4.14 on 5.57 million shares.
Luis Baertl and Marc Leduc's Luna Gold Corp. (LGC), up one-half cent to 19 cents on 73,000 shares, has a new partner for its grassroots project surrounding the old Aurizona mine in northern Brazil. AngloGold Ashanti Ltd. has agreed to spend $14-million (U.S.) on exploration over four years in exchange for a 70-per-cent interest in the project. The deal excludes the Aurizona mine, its nearby Tatajuba extension, the Touro claims and other more advanced parts of Luna's big property. AngloGold has committed to spending $2-million (U.S.) in the next year but it may quit the deal at any point thereafter.

Check out this Michael Belkin interview:

https://www.youtube.com/watch?v=btAIqwtCS30


Gold and Oil correlation?

http://money.cnn.com/2016/03/07/investing/gold-bull-market/index.html

NEGATIVE OIL PRICE VIDEO:

https://www.youtube.com/watch?v=zVh1EKm48-o

Arthur Berman: Why The Price Of Oil Must Rise

 --13 Jan 2016
 Geologist Arthur Berman explains why today’s low oil prices are not here to stay, something investors and consumers alike should be very aware of. The crazy-low prices we’re currently experiencing are due to an oversupply created by geopolitics and (historic) easy credit, not by sustainable economics.
And when the worm turns, we are more likely than not to experience a sudden supply shortfall, jolting prices viciously higher. This will be a situation not soon resolved, as the lag time for new production to come on-line will be much longer than the world wants.
The same things that always drive prices in the end it’s always about fundamentals. The markets are peculiar and they change every day. But the fundamentals of supply and demand at some point markets come back to those and have to adjust accordingly. Not on a daily basis, maybe not even on a monthly basis. But eventually they get it right. So this oil price collapse is really straight forward as far as I can tell, and it has to do with cheap stupid money because of artificially low interest rates that resulted in over-investment in oil — as well as lots of other commodities that are not in my area of specialty, but that’s what I see. And over-investment led to over-production and eventually over-production swamped the market with too much supply and the price has to go down until we work our way through the excess supply.

Monday, October 26, 2015

UPDATE, VANTEX RESOURCES

Vantex appoints Laverdiere CEO, Morissette resigns

2015-10-26 16:05 ET - News Release
Mr. Gilles Laverdiere reports
VANTEX APPOINTS NEW CEO
Vantex Resources Ltd. has made corporate changes. Gilles Laverdiere was appointed as new chief executive officer of Vantex following the resignation of Guy Morissette.
Mr. Laverdiere has been a consulting geologist to exploration mining companies since 2013. From 2011 to 2013, he was senior consulting geologist for Merrex Gold Inc., where he was in charge in developing a gold project in Mali within a joint venture with Iamgold Inc. From 2006 to 2010, he was a consulting geologist in charge of planning and supervising drilling projects in northwestern Quebec and writing NI 43-101 geological reports. From 1998 to 2006, he was CEO of HMZ Metals Inc., where he acquired mining assets in China and listed the company through an initial public offering on the Toronto Stock Exchange. From 1985 to 1997, he has been part of senior management and on the board of many public mining companies, where he evaluated mining prospects, and negotiated and structured financing for various mining companies in Canada, the Philippines, Brazil and Nevada. From 1978 to 1984, he was a geologist with a focus on gold exploration in northwestern Quebec.
Wayne Carlon as vice-president of business development (Oct. 20) and Denis Tremblay as chief financial officer and corporate secretary (effective Oct. 31) also submitted their resignations. The board of directors of Vantex wants to thank them and Mr. Morissette for many years of loyal services and wishes them the best in their future endeavours.
Exploration update
Vantex has completed an MMI soil geochemistry survey over the Morriss and Hurd showings on the Galloway property. A strong bull's eye gold anomaly was detected over the Morriss showing, and another one was detected about 600 metres to the north. Since the MMI geochemistry survey method seems to unveil buried gold deposits on the property, the company has decided to extend the survey on the project. On the Hurd showing, two generally north-south-striking gold anomalies were outlined. One of them is related to the gold intersection in hole VDH-12-59, which intersected 2.68 grams per tonne gold over 9.0 metres. The other gold anomaly remains to be tested by drilling.
Mr. Laverdiere, PGeo, is the qualified person as defined under NI 43-101, who has reviewed and is responsible for the technical information presented in this news release.

© 2015 Canjex Publishing Ltd. All rights reserved.

Monday, February 16, 2015

Petromin Resources Ltd. [PTR]



A small O/G company with a big investment in Chinese shale gas,
producing properties in Alberta, and advanced patented technologies.
A lot of potential upside here going forward...on SALE now.


Petromin Resources Ltd. is a progressive international Petroleum
and Natural Gas Exploration and Production company listed Tier 1 on the
Toronto Venture Stock Exchange.
The Company is currently focused on developing 655 sq km of coalbed methane (CBM)
 land in Western China along the Southern Junggar Basin (in China).
Alongside significant international resource development initiatives in China and Kuwait,
the Company’s core operations include five oil and gas producing properties in Alberta
Canada along the Western Canada Sedimentary Basin.


Petromin is leading the way in technologically innovative methods designed to significantly improve reserves of existing oil pools (EOR) and to enhance the recovery of coalbed methane (ECBM) while significantly minimizing greenhouse gas (GHG) emissions.


ARBITRATION RE CLAIM OF DAMAGES:
(PTR has a 15-20% stake in TWE)
the claim is for 1.8 billion dollars;
PTR owns 15-20% of TWE stock,
which could propel this 2c. stock to be a rare 100 bagger!
http://petromin.ca/page143.htm

VANCOUVEROct. 5, 2015 /CNW/ - Petromin Resources Ltd is pleased to announce that it has elected to participate in the completion of the MIDDLE ELLERSIE ZONE in the 11-35-39-28W4M well located in the Joffre field.
Upon completion, the well will be placed on production through the existing surface equipment and gas gathering and plant system. Petromin retains a 16.667% working interest in the section including an adjacent gas and oil well in LSD1-35-39-28W4M.
Vesta Energy Ltd. will operate the well. The Company also retains a 16.667% working interest in the Duvernay Rights on the section in the center of the east basin Duvernay Play. The Duvernay in general is considered to be a world class emerging play with reserve estimates by the former Energy Resources Conservation Board to contain 443 trillion cubic feet of gas and 61.7 billion barrels of oil.
http://www.petromin.ca/?p2=/customcode/petromin/viewcomments.jsp&bid=139

http://www.stockhouse.com/companies/overview/v.ptr

http://www.petromin.ca/

Monday, November 10, 2014

Canadian producers sheltered from oil’s plunge...


Canadian producers sheltered from oil’s plunge


Canadian crude producers are being cushioned from falling global prices by a drop in the loonie and narrower discounts for heavy oil shipped to key U.S. markets.
Brent crude, the global benchmark, has fallen about 15 per cent over the past 30 days, and U.S. West Texas intermediate has also tumbled sharply. But in Canada, the average price in Canadian dollars received by producers was actually slightly higher in the past month than over the previous 4 1/2 years, Toronto-Dominion Bank economist Leslie Preston said in a report Monday.
CP Video Nov. 10 2014, 6:15 AM EST

Video: Business Forecast: Oil prices could yield gains for TSX

MORE RELATED TO THIS STORY

The reason is tied to favourable moves in the currency market, along with a reduced discount for Canadian heavy oil against WTI as more Alberta oil finds its way to U.S. refineries in need of heavy crude.
“It is a bit like the cleanest dirty shirt,” Ms. Preston said in an interview. “The reality is we are better off now because we were worse off two years ago, when we were in the worst phase of discounting and the Canadian dollar was at parity.”
The Canadian Association of Petroleum Producers estimates that a 1-cent decline in the Canadian dollar would be equivalent to a $1-per-barrel rise in the oil price. Since the June peak, the benchmark Canadian heavy Western Canada Select has dropped $12 (U.S.) a barrel, but the loonie has fallen 5 cents against the greenback, cancelling out nearly half the crude price drop.
“It has been partially mitigated but it has not offset the total decline that is out there,” CAPP vice-president Greg Stringham said. Heavy oil accounts for nearly 70 per cent of Canada’s exports so far this year, and like all Canadian production, it is priced in relation to the leading U.S. benchmark, WTI.
Oil prices continued to sink Monday. WTI fell to $77.40 (U.S.) a barrel, down $1.25 on the day and off nearly $30 since its peak in June. The leading international benchmark, Brent, fell more than $1 to $82.34, and has fallen $33 since June.
Canadian heavy oil producers have seen their prices improve relative to WTI, thanks to the expansion of rail and pipeline capacity out of Alberta, and the commission of a heavy-oil processing unit at BP PLC’s Whiting refinery in Indiana.
There has been surging demand for Canada’s extra-thick crude on the U.S. Gulf Coast, home to the world’s largest refining complex, said Jackie Forrest, vice-president of energy research at ARC Financial Corp. in Calgary. The region has capacity to soak up as much as 2.7 million barrels a day of heavy oil, Ms. Forrest said.
But consumption has been held back, averaging just 1.8 million b/d so far this year, amid a pullback in deliveries from traditional suppliers in Venezuela and Mexico, and protracted delays building pipelines such as TransCanada Corp.’s Keystone XL.
“So that gap is the opportunity for Canada, because that’s actually refineries that would prefer to take heavy crude that just can’t get it,” Ms. Forrest said. “That’s translated into stronger prices back here in Western Canada as well for heavy crudes compared to light crudes.”
Discounts for Western Canada Select, the key oil sands benchmark, have shrunk to an average of about $19 (U.S.) this year from roughly $24 a year ago, for example.
Prices are expected to more closely track the U.S. benchmark as more production heads south from Alberta through expanded rail networks and new pipeline connections. “There’s still a very big market for Canadian heavy crude in the Gulf Coast despite the growth of tight oil,” she said, referring to the boom in unconventional light oil production in the United States.
Ms. Preston, the TD economist, said lower prices won’t stall Canadian production growth until later this decade because supply coming on stream now was planned several years ago. “We still expect over the next couple of years production to grow year over year by 5 to 6 per cent … but I would expect to see a hit to corporate profits and government revenues over the next couple quarters.”
While some companies have shelved high-cost projects, those decision were taken prior to the slump in prices and had more to do with market access, cost inflation and a renewed emphasis on high-return projects rather than growth for growth’s sake.
The cash crunch is more likely to impede production from unconventional tight oil plays, like Alberta’s Duvernay, where the investment cycle is shorter, than in the long-lead-time, capital-intensive oil sands projects.

OIL HAS HIT BOTTOM?
http://www.msn.com/en-us/money/savingandinvesting/analysts-history-shows-oil-cant-fall-lower/ar-AAghDOD?fb_action_ids=472879712894406&fb_action_types=og.comments&fb_source=other_multiline&action_object_map=%5B1199079760106628%5D&action_type_map=%5B%22og.comments%22%5D&action_ref_map=%5B%5D

Saturday, November 8, 2014

Silver Chart Analysis & American Eagle Sales Review

New post on Daily Gold & Silver Updates

Silver Chart Analysis & American Eagle Sales Review

by Admin
EndlessMountain on YouTube shares his silver chart analysis and reviews various sales charts for the American Silver Eagle. In October, we saw American Eagle sales break records which led the the U.S. Mint running out of 2014-dated coins to sell. This massive surge in demand is due to the recent decline in precious metals prices. The rising US dollar and announcements by the Fed to end Quantitative Easing have been the major drivers of the fall.

Wednesday, November 5, 2014

Breaking News: US Mint Sold Out of Silver Eagle Coins...

New post on Daily Gold & Silver Updates

Breaking News: US Mint Sold Out of Silver Eagle Coins

by Admin
The U.S. Mint has temporarily sold out of their Silver Eagle coins due to "tremendous" demand over the past few weeks. In a statement sent to its biggest U.S. coin wholesalers, the U.S. Mint says it will continue to produce 2014-dated coins. The Mint will advise when additional inventory will become available for sale without providing further details. The violation of the $1,200 support level for gold and long-term uptrend in silver has unleashed a surge in demand for silver and gold coins in North America and Europe.