THE PIGS BEEN INTO THE MAIL AGAIN TODAY. MANY QUESTIONS AS TO TRADING, CHARTS, MARKET DIRECTION ETC. ALL OF THESE THE PIG WILL ADDRESS THIS WEEK, SOME PRIVATELY AND SOME FOR PUBLIC CONSUMPTION.
V.EEV......THIRD TRADER THAT SCANNED VERY STRONGLY TONIGHT. BUT SOME VERY NICE NUMERICAL VALUES. SEEMS THAT THE NICE GAIN TODAY OPENED SOME NUMBERS UP AND WE CAN SEE IT STARTING A ROLL. DECENT FLOAT AND CHART......LOVE IS IN THE AIR.....
Trading Day: TSX slips to flat finish as China's banks cut lending
Tuesday, January 26th, 2010 | 5:50 pm
Canwest News ServiceVANCOUVER – The main Canadian benchmark gave up early gains and slid to a flat finish Tuesday as traders moved to the sidelines ahead of Wednesday's interest rate announcement from the U.S. Federal Reserve, Wednesday night's State of the Union address from U.S. President Barack Obama, and a U.S. Senate vote expected on the fate of Fed chairman Ben Bernanke.
Markets moved into positive territory on Tuesday morning after U.S. consumer confidence rose in January and the S&P/Case-Shiller home price index rose in November for the sixth straight month. But they reversed after Republicans and Democrats teamed up to prevent an up-or-down vote on spending cuts and tax increases that would rein in a $1.35-trillion US budget deficit. The Senate is expected to raise the ceiling this week on the U.S. national debt by $1.9 trillion to $14.3 trillion.
As the U.S. government goes deeper and deeper into debt, banks in China began restricting new loans, two weeks after the Chinese government announced higher reserve requirements in a bid to tighten credit. Markets in Hong Kong and Shanghai fell for the seventh straight session on Tuesday, bringing losses to 10 per cent since Beijing announced the changes Jan. 12. China Construction Bank and Bank of China each dropped in the range of three per cent, to the lowest levels since August and September of 2008.
The S&P/TSX Composite index added 6.68 points, or 0.1 per cent, to close at 11,361.19, with declining issues outpacing gainers 835 to 725. The senior Canadian benchmark has dropped five per cent since China unveiled the new lending restrictions. The S&P/TSX metals and mining index has shed 11 per cent in the same period.
On Tuesday, the April gold contract added $2.70, or 0.3 per cent, to $1,099. 50 US, after trading as low as $1,086.50 US. Goldcorp rose 47 cents, or 1.2 per cent, to $38.73. Alamos Gold gained 51 cents, or 4.2 per cent, to $12.69. Detour Gold climbed 66 cents, or 4.5 per cent, to $15.50.
March copper fell 5.35 cents to $3.3395 US. Thomson Creek Metals, operator of the Endako molybdenum mine near Fraser Lake, shed 55 cents, or 4.1 per cent, to $12.80. FNX Mining fell 40 cents, or 3.1 per cent, to $12.49. Vancouver- based First Quantum Minerals dropped $3.48, or four per cent, to $84.82.
Crude oil fell 55 cents, or 0.7 per cent, to $74.71 US a barrel for the March contract. Oil prices have fallen 11 per cent in the past three weeks. The Canadian dollar fell four-tenths of a cent to 94.12 cents US after trading as down as far as 93.52 cents US, its lowest level since Dec. 21.
Shares of World Color Press shot up $2.63, or 26 per cent, to $12.65 after the restructured company formerly known as Quebecor World, agreed to a reverse takeover offer worth an estimated $1.4 billion US from privately-held Quad/ Graphics. U.S. The company rejected a lower cash and stock bid in May 2009 from printing giant R.R. Donnelley – Donnelley shares have risen over 70 per cent since then.
On Wall Street, the Dow Jones Industrial Average slipped 2.57 points to 10, 194.29, giving back a gain of nearly 100 points. The S&P 500 fell 4.61, or 0.4 per cent, to 1,092.17, while the Nasdaq composite ended the session down 7.07, or 0.3 per cent, at 2,203.73. Shares of Barnes and Noble jumped $2.32, or 13 per cent, to $19.70 US on hopes that the bookseller has a deal to provide electronic books for the new Apple product to be unveiled Wednesday. Apple stock rose $2.87, or 1.4 per cent, to $205.94.
Live Nation, owner of the Vancouver's Commodore Ballroom, rose $1.64, or 16 per cent, to $12.15 US. Shares are up 33 per cent in the past two sessions. The U.S. Justice Department approved a merger with Ticketmaster and media tycoon John Malone announced his Liberty Media empire will bid for 34.5 million shares at $12 US, raising his stake in the live entertainment company to 35 per cent.
THE PIG SAYS NEWS JUST OUT..... ON ONE OF TONIGHTS PICKS.............
CMQ announces core drilling results on Red Canyon Project Canada NewsWire CALGARY, Jan. 26 /CNW/ - CMQ Resources Inc. (TSXV: NV) ("CMQ") is pleased to report drill results for the three hole, 1,137 ft (346.6 m) diamond core drilling program for the Red Canyon sediment-hosted gold project in Eureka County, Nevada. Drill holes MR09-05C and MR09-06C were designed to follow-up on known gold mineralization in reverse-circulation hole KR-001 containing 95 ft of 0.117 oz Au/t from 20 to 115 ft (29.0 m of 4.012 g Au/t from 6.1 to 35.1 m). Assays and geologic logs are available for KR-001, but no drill cuttings were preserved. Both holes are immediately adjacent to KR-001 and are not new discovery holes. These holes were designed to verify historic drill assays of KR-001 and provide direct observation of alteration, structure and lithologic patterns in the gold-bearing host rocks. A third hole, MR09-04C, was drilled 1,445 ft (440 m) east of KR-001 to test the McColley Canyon Formation below surface alteration and a gold/arsenic soil anomaly. These are the first core holes completed on the project in over two decades of exploration. All drill results are summarized below and are based on a 0.010 oz Au/t (0.343 g Au/t) cutoff with "no significant assays" reported as anything less than 0.010 oz Au/t. Lengths of intersections reported are down hole intervals. << ------------------------------------------------------------------------- MR09-04C (Vertical) ------------------------------------------------------------------------- Interval (ft) Length (ft) Grade (oz Au/t) Length (m) Grade (g Au/t) ------------------------------------------------------------------------- No significant assays ------------------------------------------------------------------------- ------------------------------------------------------------------------- MR09-05C (Vertical) ------------------------------------------------------------------------- Interval (ft) Length (ft) Grade (oz Au/t) Length (m) Grade (g Au/t) ------------------------------------------------------------------------- 0-130* 119 0.152 36.28 5.25 ------------------------------------------------------------------------- including ------------------------------------------------------------------------- 0-42 42 0.102 12.81 3.50 ------------------------------------------------------------------------- 42-49 No sample ------------------------------------------------------------------------- 49-52 3 0.101 0.91 3.46 ------------------------------------------------------------------------- 52-56 No sample ------------------------------------------------------------------------- 56-95 39 0.281 11.89 9.64 ------------------------------------------------------------------------- 95-130 35 0.074 10.67 2.54 ------------------------------------------------------------------------- *11 feet (3.35 m) of no core recovery ------------------------------------------------------------------------- ------------------------------------------------------------------------- MR09-06C (Azimuth 315 degrees, angle -70 degrees) ------------------------------------------------------------------------- Interval (ft) Length (ft) Grade (oz Au/t) Length (m) Grade (g Au/t) ------------------------------------------------------------------------- 0-60 60 0.100 18.29 3.43 ------------------------------------------------------------------------- including ------------------------------------------------------------------------- 0-28.5 28.5 0.126 8.70 4.32 ------------------------------------------------------------------------- 45-55 10 0.192 3.05 6.58 ------------------------------------------------------------------------- >> MR09-05C verified the results in KR-001 and upgraded the original gold assays by 30 percent and upgraded the thickness by 25%. Core samples from MR09-05C and MR09-06C now indicate strongly decalcified and clay-altered limestone, with little to no silica, a more favorable style of alteration for gold mineralization. Previous rock sampling and drilling had been strongly biased towards bold exposures of strongly silicified limestone. Exploration potential at Ice remains open to the northeast along 3,600 ft (1,100 m) of strike, and to the southeast for 7,600 ft (2,320 m) along a plunging syncline. Drill samples were collected with a diamond core drill. Sample intervals of half core were typically collected on five-foot (1.5 m) intervals, but in some instances samples were based on geologic contacts. All samples were sent to ALS Chemex Laboratories, Inc. of Reno, Nevada for sample preparation and analysis. Gold results were determined using standard fire assay techniques on a 30-gram sample pulp with an atomic absorption finish. Montezuma QC/QA included the insertion of standards and blanks on a regular basis, and check assays on select samples. Check assays were performed by SGS Mineral Services in Toronto, Ontario. Permitting Update To date, Montezuma's drilling has been permitted through a Notice of Intent ("NOI") with the Bureau of Land Management. The NOI limits surface disturbance to a maximum of 5 acres (2 hectares). Currently, Montezuma and Miranda geologists recognize eight unique target areas that require multiple phases of drilling. To test these targets, Montezuma has initiated the permitting process for an Exploration Plan of Operations ("POO"). When complete, the POO will allow for more than 5 acres (2 hectares) of surface disturbance and increased flexibility in drill testing a variety of targets across the property. The Red Canyon project includes 237 unpatented lode mining claims (7.7 square miles/19.8 square kilometers) on the Battle Mountain-Eureka Trend and adjoins U.S. Gold's Tonkin Springs property to the west. The project covers an erosional "window" that exposes oxidized, decalcified and silicified lower-plate carbonate rocks that are age equivalent to the rocks hosting the Cortez Hills gold deposit. Risk of Continued Operations At CMQ's Annual and Special Meeting of Shareholders held January 19th, 2010, shareholders failed to approve the proposed Amended Funding Agreement, as further described in CMQ's Information Circular dated December 21, 2009 on a "majority of the minority" basis, as required by the TSX Venture Exchange and applicable securities regulations. As a result of the failure of this proposal, CMQ is in default under its existing funding agreement with Matco Capital Ltd. ("Matco") and does not have any source of capital to continue its operations. CMQ is currently indebted to Matco for approximately $1,570,000, including unpaid interest. Matco has the contractual right, as at the date hereof, to enforce its security over all of CMQ's assets, including all of CMQ's exploration properties. Presently, CMQ is attempting to negotiate a forbearance agreement with Matco and is exploring other financing alternatives. There can be no assurances that any such forbearance agreement will be concluded. If a forbearance agreement is reached, the terms may be punitive to CMQ and its shareholders. CMQ's directors have not made a filing under the Companies' Creditors Arrangement Act ("CCAA") because obtaining financing to fund a CCAA process is remote given the exploratory nature of CMQ business and the uncertain value of its assets. CMQ currently has 6,534,670 Common Shares issued and outstanding. CMQ's website is located at www.cmqresources.com John Hogg, CEO, CMQ Resources Inc., is the qualified person, as defined by National Instrument 43-101, who has reviewed and verified the data disclosed in this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statements
THE PIG SAYS PAY ATTENTION TO THIS ONE !!!!!!
Montoro Acquires Contiguous Claims to Spectrum Mining Corp.'s Recently Reported Rare Earth Discovery VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2010) - International Montoro Resources Inc. ("IMT") (TSX VENTURE:IMT))(PINK SHEETS:IMTFF)(FRANKFURT:O4T) has acquired 1,818.6 ha. (4 claims - Chuchinka Property) contiguous to and adjoining Spectrum Mining Corp's recently reported rare earth discovery, located 80 km northeast of Prince George, B.C. via Hwy.97, then east along the all weather Chuchinka Forest Service Road. In late October, Spectrum Mining reported significant rare earth element mineralization on its Wicheeda carbonatite-syenite breccia intrusive complex rare earth discovery. Highlights included a 48.64 metre interval which averaged 3.55% rare earth elements ("REE"), a 72.0 metre interval that averaged 2.92% REE, and a 144 metre interval which averaged 2.20% REE in three separate drill holes. (click on attached link to 5th Annual Minerals South Conference http://www.montororesources.com/projects/wicheeda.pdf). In 2009, eleven NTW diamond drill holes totalling 1835 m were drilled in the "Main Zone" from 2 new drilling platforms on Wicheeda. All eleven drill holes intersected significant rare earth mineralization and the Wicheeda deposit remains open in all directions. World recognized carbonatite-rare earth mineralization specialist Anthony Mariano visited the Wicheeda project during the 2009 drilling program and has subsequently examined drill core samples as well as rock samples that he collected on the site. His analytical work including SEM and cathodoluminescense indicates that the Wicheeda mineralization is mainly quite coarse grained (0.2 m to 0.5 mm) monazite and a bastnaesite-synchisite mineral. He has also conducted a bench scale heavy liquid and magnetic separation study on a composite sample of Wicheeda drill core and was able to produce a high grade REE concentrate that contained 56.09 wt. %REE. This test indicates that the Wicheeda rare earth mineralization is simple and easy to produce a marketable concentrate from compared to most other world rare earth deposits including the dormant world class rare earth mine at Mountain Pass in California. By also applying a flotation circuit it should be easy to produce a 60% LREE concentrate from Wicheeda which would exceed the concentrate grade from Mountain Pass which for over 40 years was the main North American supplier of rare earth products to the world. Several other companies have joined the search for an extension of the Wicheeda rare earth discovery. Commerce Resources Corp. ("CCE") and Canadian International Minerals Ltd. ("CIN") also reported encouraging results in their 2009 rock, silt and soil sampling program including a new anomaly that exceeded the detection limit of greater than 1% cerium, indicative of light rare earth content, and 309 ppm gadolinium, indicating the presence of heavy rare earths. Zimtu Capital Corp. ("ZC") also owns claims adjoining the Montoro claims to the north and west. The terms of the agreement are as follows: -- The company is to pay the vendor(s) the sum of $12,000 upon execution of the agreement (paid) and a further $38,000 upon TSX Venture Exchange approval. -- The Company will issue to the vendor(s) 500,000 units at an agreed price of $0.05 per unit within five days of TSX approval. Each unit comprises one common share of IMT and one common share purchase warrant entitling the holder thereof to purchase one additional common share of IMT for a period of two years at a price of $0.10 per share in the 1st year and $0.15 per share (1/2 warrant) in the 2nd year. -- The Company will issue to the vendor(s) a further 500,000 units as above within six months anniversary of TSX approval. -- The vendor(s) will retain a 2% net smelter return (NSR) royalty under standard industry terms with a 1% buyout for $1 million. The Company will pay a finder's fee or commission of 8% in accordance with the policies of the TSX Venture Exchange. REE's are critical components in many high-tech applications including hybrid motor vehicles, flat screen monitors, high-power magnets, consumable electronics (Blackberries, iPods, DVDs, cellular phones), green energy technology, fibre optics, super alloys for the aerospace and building industries, medical and dental lasers. But even more critical as far as Western governments are concerned is their use in high-tech strategic military and defense weaponry. Guided missiles and other precision weapons, for example, rely on rare earth metals and magnets to help direct their course. Although demand for REE's is growing rapidly, over 90 percent of global production is controlled by China, which has recently imposed restrictions on their exports. With insatiable consumer demand for high tech electronics, clean energy mandates from countries around the globe and out-of-control military spending, it seems likely that demand will only increase as supplies are threatened. This is the recipe for much higher prices in rare earths and the companies that develop them. OTHER: The Company has granted 1,800,000 incentive stock options to directors, officers and consultants under its Stock Option Plan for a period of three years at a price of $0.10. All securities issued are subject to regulatory approvals and the Company's Stock Option Plan. ON BEHALF OF THE BOARD OF DIRECTORS, Gary Musil, President, CEO/Director About International Montoro Resources Inc. International Montoro Resources Inc. is focused on advancing its 100% optioned Elliot Lake uranium project in northern Ontario. In addition the Company is continuing development with Belmont Resources Inc. (50/50) of its Crackingstone -982 ha and Orbit -11,109 ha uranium properties in the Uranium City District - Northern Saskatchewan. The Company also holds 100% interest in the Cup Lake/Donen uranium project in south-central British Columbia and two claim blocks (50/50 with Belmont) in the Central Mineral Belt in Labrador. For further information phone 604-683-6648, visit the Company website at www.MontoroResources.com and watch the Smartstox interview with President Gary Musil (www.smartstox.com/interviews/imt.php). The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations. FOR FURTHER INFORMATION PLEASE CONTACT: International Montoro Resources Inc. Gary Musil President, CEO/Director (604) 683-6648 (604) 683-1350 (FAX) www.MontoroResources.com
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