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September 12, 2018

7 @ 7:00

Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information!

1. Gold has traded between $1,192 and $1,198 so far todayas of 7:00 am Pacific, bullion is off $2 an ounce at $1,196Silver is back above $14, up 2 pennies at $14.10…Copper, Nickel and Zinc have all rebounded slightly to $2.67, $5.59 and $1.07, respectively, while Cobalt continues to hold above $28Crude Oil has surged 97 cents to $70.22…a just-announced bigger than expected drop in U.S. Crude inventories and the potential affects of Hurricane Florence have re-energized the Oil bulls…the U.S. Dollar Index is flat at 95.14 as it continues to struggle with key resistance around 95.50…there are reports just out that the U.S. is reaching out to China for a new round of trade talks, in an effort to give Beijing another opportunity to address Washington’s concerns over trade issues before the Trump administration implements additional tariffs on Chinese imports…this should help give metal prices a boost…the liberal mainstream media won’t give President Trump credit for a roaring economy, but it’ll blame him for a hurricane…the editorial board of the Washington Post has actually declared that Trump is “complicit” for Hurricane Florence because of his views on climate change…

2. The prospect of the loss of Iranian supply has added to concerns over the delicate balance between consumption and production in the Crude Oil market…“We think Oil market fundamentals are increasingly supportive of Crude prices, at least at current levels,” said Gordon Gray, HSBC’s global head of Oil and gas equity research…“While we aren’t explicitly forecasting Brent to rise to $100 a barrel, we see real risks of this happening.  The fact that much higher supply is already needed from the likes of Saudi Arabia – and the low levels of spare capacity remaining – leave the global system highly vulnerable to any further significant outage”

3. GT Gold (GTT, TSX-V) has doubled down on a controversial financing, increasing by 71% the size of the PP that was announced Monday, just hours after the company reported the best porphyry discovery in British Columbia in more than a decade…PI Financial can’t be blamed for acting like pigs at the trough when the trough was willingly filled to the max by management…rookie GT Gold President and CEO Steve Burleton halted all momentum in the stock by announcing a flow-through tilted financing at prices of 67 cents (hard dollar), 77 cents (flow-through) and 95 cents (charity flow-through)…no warrants, but GTT is nonetheless diluting its share structure by 8% with an unnecessarily low-priced PP that cheapens the value of such a great discovery…Burleton has rewarded his institutional friends but at the huge cost of alienating a wide swath of retail investors who are critical to any junior resource stock – therein lies the tragedy and the danger that management is seemingly oblivious to…

4. Chemesis International (CSI, CSE) is threatening to gain traction above the $1 level after announcing that it has opened its wholly-owned subsidiary, Chemesis Latin America…through this subsidiary, the company is exploring and completing advanced due diligence on opportunities for cultivation, production and export from the Latin American market…the company believes it will be able to quickly gain market share in Latin America through the use of its networks and existing expertise…globally, regulatory changes are occurring for both medical and recreational cannabis, and as these changes are implemented, Chemesis intends to be a first mover by leveraging its existing networks and developing brands suited for the Latin American market…Mexico is a great example of these changes, as lefty President-elect Andres Manuel Lopez Obrador, who has the job of overseeing rule making and regulations around Mexico’s new marijuana law, has unveiled a plan to change the country’s drug strategy in several major ways…Colombia, another frontrunner in the Latin American cannabis market, is rapidly expanding its capabilities…the government is hoping to grow up to 40.5 tons of cannabis per year, which would account for approximately 44% of the licenses issued globally…Colombia is estimated to capture as much as one-fifth of the global market, a value of $40 billion a year…

5. Aurora Cannabis (ACB, TSX) continues its aggressive push…the company has acquired Europe’s largest producer, processor and supplier of certified organic hemp and hemp products, Agropro UAB, as well as hemp processor and distributor Borela UABAgropro, a hemp seed contracting and processing company, and its sister company Borela UAB, a processor and distributor of organic hulled hemp seeds, hemp seed protein, hemp flour and hemp seed oil, currently has 1,600 hectares under contract, potentially yielding more than 1 million kg of organic hemp with additional contracts available to expand to more than 3,000 hectares across Lithuania, Latvia, Estonia, and Poland…previously, the companies were focused exclusively on the production and sale of hemp seed-based products to markets across Europe, North America and Asia…each year, very substantial quantities of CBD containing hemp biomass were left on the field, never utilized…

6. The Dow is up 42 points through the first 30 minutes of tradingin Toronto, the TSX has retreated 18 points…The Green Organic Dutchman Holdings (TGOD, TSX) announced this morning that it has launched its premium, certified organic cannabis brand…the timing coincides pre-eminent launch coincides with Canadian Organic Week, the largest annual celebration of organic food, farming and products across the country…the Venture has added 5 points to 727 as of 7:00 am Pacific…key resistance is 730 while a strong support band stretches from 710 to 720Triumph Gold (TIG, TSX-V) has further delineated Gold-rich porphyry-style mineralization in the Blue Sky zone at its 100%-owned, road-accessible Freegold Mountain Property in the Yukon…highlights results released this morning was drill hole RVD1819 which returned 316 m of 1.1 g/t Au, 0.27% Cu, 5 g/t Ag and 0.02% Mo…Paul Reynolds, Triumph Gold’s President & CEO, commented: “RVD1819 contains a truly exceptional intersection. Not only does it represent the longest and highest-grade intersection in the Blue Sky porphyry to date, but it is one of the highest-grade intersections ever made in a porphyry system in the Yukon”…the drills have stopped turning at Freegold Mountain until 2019, but assay results are pending from about half of TIG’s 18,000-m 2018 program…

7. The Great Crypto Crash of 2018 is one for the record books…as Bitcoin barely holds above the critical $6,000 support level and other cryptocurrencies suffer even more, the MVIS CryptoCompare Digital Assets 10 Index has extended its collapse from a January high to 80%…the tumble surpasses the NASDAQ’s 78% peak-to-trough decline after the dot-com bubble burst in 2000…like their predecessors during the Internet-stock boom almost 2 decades ago, cryptocurrency investors who bet big on a seemingly revolutionary technology are suffering a painful reality check, particularly those in many secondary tokens, so-called alt-coins…yesterday’s losses were led by Ether, the 2nd-largest virtual currency, which plunged 6% to extend this month’s retreat to 40%…the value of all virtual currencies tracked by CoinMarketCap.com sank to $187 billion, a 10-month low…

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  1. Now I’m curious Jon, what are itg and cibc up to with ggi? Just wondering…

    Comment by Laddy — September 12, 2018 @ 11:46 am

  2. Mr. Johan Grandin reports
    iMetal Resources Inc. is moving ahead with the next stage of exploration at its 105-square-kilometre Gowganda West project following the receipt of multiyear drill permits from the Ontario Ministry of Mines and Development (MNDM). The company can also now carry out planned mechanized stripping, trenching and ground-based geophysics over high-grade gold showing areas that continue intermittently for at least 2.4 kilometres along an apparent structural corridor (zones 3A, 3B and 3C).
    iMetal has immediately mobilized an excavator and its exploration team is on the property, led by exploration manager Tom O’Connor.
    Johan Grandin, iMetal’s president and chief executive officer, stated: “We’re extremely pleased to have finally received drill permits and that we now have the ability to carry out a broad range of programs year-round to unlock the value of this very promising grassroots project. The extent of high-grade gold and copper surface showings on a property with no previous systematic exploration, and contiguous to a significant gold deposit, has our team believing it can turn Gowganda West into an exciting new discovery story.”
    Access to high-priority targets over the summer has been vastly improved by a forest cutting company working in the area. It has built a solid gravel road straight from Highway 560 from Gowganda into the first targets at zones 3A and 3B.
    The technical content of this news release has been reviewed and approved by Dr. Mark Fedikow, PhD, PGeo, a qualified person as defined under National Instrument 43-101.
    We seek Safe Harbor.
    © 2018 Canjex Publishing Ltd. All rights reserved.

    Comment by Jon (not BMR Jon) — September 13, 2018 @ 12:42 am

  3. Disregard, that was from Aug 28th…

    Comment by Jon (not BMR Jon) — September 13, 2018 @ 12:44 am

  4. Hi Jon, i just read the great news from AIS, that Guay permit is imminent plus the recent 80/20 deal – hooray “…. Favourable negotiations have been held for the issue of a drilling and seismic permit for Mina Guayatayoc which will be issued shortly.

    Phil Thomas stated, “We are very pleased to have completed the consultation process that culminated in the Company signing an agreement with the Quebralena community. We look forward to receipt of our drilling permit and commencement of our seismic and drill program….”

    Comment by donald — September 13, 2018 @ 6:59 am

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