BullMarketRun.com

1. Gold has traded between $1,293 and $1,299 so far today following last night’s historic U.S.-North Korea summit in Singapore, the first time a U.S. President has met with a North Korean leader…as of 7:00 am Pacific, bullion is down $2 an ounce at $1,298…Silver has eased off 4 cents to $16.86…Nickel has added 4 cents to $6.94 while Copper and Zinc are both steady at $3.26 and $1.46, respectively…Cobalt has slid 23 cents to $37.88…Crude Oil is up slightly at $66.20 while the U.S. Dollar Index has retreated one-tenth of a point to 93.59…Donald Trump was not a politician when he was elected, and he’s not a politician now…he continues to throw old rules out the window as evidenced by his historic meeting with North Korean leader Kim Jong Un…the two signed a document stating that Pyongyang would work toward “complete denuclearization of the Korean Peninsula”, one of the requirements the U.S. sought at the summit in Singapore…it came about through intense economic pressure and a credible threat of military action (not a fake “red line”)…

2. U.S. consumer prices rose marginally in May amid a slowdown in the pace of increases in the cost of gasoline…while the 0.2% monthly gain for the Consumer Price Index matched market expectations, the annualized gain came in at 2.8%, the biggest advance since February 2012…that was up from the 2.5% pace in April…meanwhile, the Fed’s preferred inflation measure, the personal consumption expenditures price index excluding food and energy, rose 1.8% on a year-on-year basis in April, matching March’s increase…it remains below the Fed’s 2% target rate as the central bank begins a 2-day meeting this morning…the Fed is widely expected to boost interest rates by a quarter point when its meeting concludes tomorrow, and it will also provide an update that should show it expects stronger growth and higher inflation – and maybe even more interest rate increases this year…

3. Brazil’s mining giant Vale (VALE, NYSE) is moving ahead with construction of an underground mine at Voisey’s Bay, extending operations by at least 15 years…transitioning the Nickel mine from open-pit operations to underground will cost about $2 billion and is expected to extend its productive life to 2035…over the 5-year construction, to begin this summer, more than 16,000 person-years of employment will be created…once operational, and including the Long Harbour processing plant that could also end up serving high quality feed from Nickel Mountain in the event of a mine scenario there, direct employment will hit 1,700 jobs…the Voisey’s Bay mine, which opened in 2005, currently employs about 500 people…meanwhile, Vale has inked agreements with Cobalt 27 Capital (KBLT, TSX-V) and Wheaton Precious Metals (WPM, TSX) to sell future production of Cobalt…the combined $690 million (U.S.) in upfront payments will help finance the Voisey’s Bay expansion…KBLT is raising $300 million at a price of $9.75 per share which has put some downward pressure on the stock this morning…KBLT has plunged $1.36 to $9.70 after 3o minutes of trading…

4. South Africa’s Association of Mineworkers and Construction Union says it will demand a higher minimum monthly wage of 12,500 ZAR ($953 U.S.) in their upcoming negotiations with the country’s Gold producers.  “This is significantly higher than the ZAR 10,500 per month demanded by the larger National Union of Mineworkers, and the ZAR 7,700 per month currently seen as the industry norm,” noted BMO Capital Markets‘ analyst Colin Hamilton. “This sets the scene for a fractious negotiation period with unions in conflict with each other as well as the mining industry”…the union will also be asking for a 5-day work week, better housing, and maternity leave benefits…

5.  Kevin O’Leary, chairman of O’Shares ETFs and an investor on “Shark Tank”, told CNBC yesterday that he’s making a two-pronged bet on Canada’s future prosperity, due to what he sees as a conservative groundswell to challenge Liberal prime minister Justin Trudeau.  “I’m waving the Canadian flag.  I’m going long the [Canadian] dollar and I’m going long 60 large-cap Canadian companies,” said O’Leary, who was born in Montreal…he said he had zero exposure to Canada until this week and now has a 1% exposure in “60 names in Canadian dollars using a Canadian ETF called XIU which owns everything: all the banks, all the rail, and all the energy; and I bought Canadian dollars to do it.  So I’m betting on a move in the Canadian dollar to the upside and I’m betting that all of these left wing governments, including the one at the federal are all getting wiped out”…he added he’s prepared to increase his exposure to Canada by 1% if conservatives win in Alberta and another 1% if the Liberals and Trudeau get bounced in the 2019 federal election…Trudeau has not done himself or his country any favors by battling President Donald Trump over trade, O’Leary said, following the weekend G-7 summit in Quebec that featured a combative Trudeau press conference followed by a series of tweets from Trump that attacked the PM…

6. The Dow has retreated 20 points through the first 30 minutes of trading…in Toronto, the TSX is up slightly…Goldcorp (G, TSX) said on Monday an ongoing protest blocking entry to its Penasquito mine, one of Mexico’s biggest Gold producers, could force the company to halt output… Aurora Cannabis (ACB, TSX) continues its torrid acquisition pace…Aurora is buying out privately held Anandia Laboratories in an all-share transaction valued at approximately $115 million on a fully diluted basis…led by CEO and co-founder Dr. Jonathan Page, PhD, one of the industry’s most widely recognized cannabis experts, Anandia is considered the industry leader in science, genetics and independent cannabis product testing…Dr. Page was the first scientist to sequence the cannabis genome and provide deep insights into the biosynthesis of cannabinoids and the interplay between cannabinoids and terpenes…the Venture has slipped 5 points to 764…A.I.S. Resources (AIS, TSX-V) will resume trading at 9:00 am Pacific after being halted for news dissemination…while the company will not be proceeding with the purchase of the Chiron Property in Salta due to results from 2 test holes (saving the company $1.5 million), AIS has received the date for its UGAMP meeting (July 2) pertaining to the long-delayed Guayatayoc Project in neighbouring Jujuy province…UGAMP meetings aren’t set unless there’s a high level of confidence that a permit will be issued, so it now appears likely that drilling at this advanced flagship property will finally proceed this summer…Canada Carbon (CCB, TSX-V) has filed in the Superior Court of Quebec its action for $96 million in damages against the Municipality of Grenville-sur-la-Rouge…Bruce Duncan, CEO for Canada Carbon, commented: “From the beginning, we have rigorously complied with the laws and regulations that apply to mining projects in Quebec.  Our priority is to pursue our efforts with the competent authorities to obtain all of the necessary authorizations for the development of the Miller graphite mine and marble quarry project”…

7. Former Liberal cabinet minister Anne McLellan, who headed the task force that made recommendations on legalizing pot, told industry members at the first World Cannabis Congress in Saint John, New Brunswick, that many Canadians are becoming increasingly sensitive about the legalization of cannabis…McLellan urged companies to respect legislators’ cautious approach and boundaries, and not play “fast and loose” with the rules…“Everybody had better be on their best behaviour for the first few years after legalization because there is a societal fragility to this,” McLellan warned…“If this goes bad, if people play fast and loose with the rules, there could be enormous societal push-back”…several licensed producers in the audience received McLellan’s message with frustration. “We have no intention of skirting the regulations,” said Ray Gracewood at Organigram. “We are all aligned on wanting to keep [cannabis] out of the hearts and minds of children and eliminating the illicit market.  Those are our two objectives.  But we need to do everything we can to be competitive with other licensed producers and the illicit market.”

Most Popular Recent BMR Posts

“The Enemies Of Progress, The Radical Environmentalists, Are Ramping Up For A War In The Woods”

Why Are These People Smiling? – Their Stock Has Tanked 80%!

Turbocharged Nickel

BMR Morning Alert! – Venture Slips On An Oil Slick, And Updates On 5 Special Situations

Commodity Check!

The Template For The Next 10% Stake In Garibaldi Resources

Thunder In The Corridor!

The Nickel Mountain Magma Highway

Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember

How To Bring A Junior Resource Market To Life!

The Dramatic New Chase For A Nickel-Copper-Rich Massive Sulphide Deposit In The Heart Of A Famous Gold Camp

Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began