Important Dates For September

There are two very important dates to remember for the month of September.

Sept. 14th, 2011.

This is the first Wednesday in September where the latest issue of the Canada Gazette Part II is published @ 9am. If the Treasury Board passes the modification of the schedule II of the MMER concerning the Jolu Central Mill gold project into law, the public notification is made here. The Canada Gazette Part II is published every second Wednesday. If the modification has not passed into law by this date, then the next date is obviously the date to watch. The Environment Minister stated that September was the target date.

http://www.gazette.gc.ca/rp-pr/p2/index-eng.html

The wording for the modification was passed in February, 2011 and published in the Canada Gazette Part I. There is no mention of any consultations for this wording, as I presume the consultations have long been completed. The company has done an exceptionally poor job of keeping the shareholder informed of this process, btw.

http://www.gazette.gc.ca/rp-pr/p1/2011/2011-02-19/html/reg2-eng.html

http://www.consultingcanadians.gc.ca/cl.jspx?lang=eng&tp=p

http://www.townoflaronge.com/TheNortherner/Story.php?id=710

With ministerial approval from the Sasakatchewan provincial government, the share price moved very significantly, but the key here is federal approval. Very likely federal approval will bring media attention.

Sept. 30, 2011.

This is the due date for the Q1 report, fiscal 2012 for GBN.V. Companies trading on the TSX Venture Exchange with their fiscal year ending April must report their end of quarter within 60 days.

Weekly Analogous Gold

The weekly analogous gold price chart suggests that the next move will be a correction to the 13-week EMA, after a lengthy period of sideways trade. The lowest the price can correct is the top of the previous spike which followed a rounded top. This would be similar to the move made in the weekly chart 2005 - 2006, where there were two rounded tops with a spike in between.

I am presuming that the latest move signifies another rounded top, but the price move had been so agressive, it looks like another spike. We have passed the foothills and are entering into the crags of the north face.

supersize: http://www.flickr.com/photos/11747277@N07/6130587098/sizes/l/in/photostream/

stockcharts.com

GBN Daily Chart

In terms of the trading scenario for GBN.V shares, we are essentially in the same ballpark as the same period for last year.

A number of things that would favour a long position going into the fall are the large player that cashed out some 20 million shares during the share price rise a year ago is unlikely to divest their position this year.

Secondly, important developments such as declared commercial production and the Q1 & Q2 reports are likely to reflect on the robust grades coming out of the La Ronge Gold project and to settle the questions on costs.

There have been reports of high grades at the Seabee mine, which gives the advantage to any robust grades in any gold mine, especially one in the same gold belt.

Buyers have been moving in on the stock.

One thing that I have changed on the charts is the elliot wave count, as the correction demanded a change of heart on some long standing assumptions. Looking for a retracement to the 200-day MA, still pending, but there are some developments in both the daily and weekly charts that deserve mention, mainly that bullish moving average crossovers of the moving averages is due.

supersize: http://www.flickr.com/photos/11747277@N07/6130089527/sizes/l/in/photostream/

stockcharts.com

BNN.CA

John Ing

John Ing is the Don Ho of gold. (just joking) He gives his unexpurgated opinion in the following interview. Will he be correct in his gold price assumptions?

Gold is a new currency: John Ing

Gold has become an investor darling in recent years. But John Ing, President and gold analyst at Maison Placements, tells BNN the meteoric rise in the price of gold has more to do with a change in the perception of global currencies than just investor enthusiasm.

"Gold has become the default currency," he says. "Gold has become money again. It hasn't been that way for 40 years."

"The realization of investors today is that the consequence of the '08 financial crisis and the consequence of the sovereign debt crisis and we only have to look at history and it's going back to some sort of currency that we can trust -- and gold fulfills that role," he adds.