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October 12, 2018

7 @ 7:00

Visit the BMR comments section throughout the day for updates and helpful information…

1. Gold has traded between $1,215 and $1,224 so far today following its biggest 1-day move in 2 years…as of 7:00 am Pacific, the yellow metal has retreated $5 an ounce at $1,219 with U.S. equity markets bouncing back after 2 days of sharp losses…bullion has traded within a horizontal channel between $1,220 and $1,180 for the past 2 months, and a confirmed breakout above that channel is looking increasingly likely during the 2nd half of October…Silver is up 8 cents at $14.64…Copper is has climbed 5 cents to $2.85…Nickel and Zinc are up slightly at $5.76 and $1.21, respectively, while Cobalt has firmed to $26.31 a pound…Crude Oil is steady around $71 a barrel while the U.S. Dollar Index has rebounded one-fifth of a point to 95.22

2. BMR has learned that two Barkerville Gold (BGM, TSX-V) employees have staked a nearly 200-km-long belt of claims in the interior of British Columbia from Clinton to Princeton, covering Spences Bridge geology prospective for Gold…this is believed to be the largest single claim block staked by one entity in B.C. exploration history, a total of 189,000 hectares – nearly 2,000 sq. km – acquired for a total cost of $331,000the question is, who’s really behind this?…interestingly, the claims were staked over a 12-hour period September 29 and 30, just a couple of days prior to a news release issued by Westhaven Ventures (WHN, TSX-V) whose Chairman and largest shareholder is Gren Thomas…on October 2WHN released partial results from a recently completed drill campaign at its 155 sq. km Shovelnose Gold Property, located within the Spences Bridge belt, approximately 30 km south of Merritt…initial results from 10 holes (3,721 m) of drilling featured the highest-grade Gold assays to date at the property including 1.65 m grading 175 g/t Au and 249 g/t Ag, visible Gold in 5 drill holes including 6 separate areas in hole SN1814, and a 20-m quartz vein in SN1815…the strike length of the South zone was extended an additional 300 m southeast for a total of 700 m…

3. Why do Canadians put up with this?…Western Canada Select slumped below $20 (U.S.) a barrel yesterday, continuing a brutal streak of declines for the country’s main grade of Crude…the drop has come as rising production from Canada’s oil sands overwhelms the nation’s pipeline capacity, and as refinery capacity in the U.S. dwindles amid planned maintenance…WCS has now declined for 10 of the past 13 trading days, sending its discount to West Texas Intermediate Crude to a whopping $52 a barrel, the widest on record in Bloomberg data stretching back to 2008…much of the blame for all of this falls on Canada’s “climate change” crusaders, globalists who certainly aren’t putting Canada first as they carry out a naive agenda to “save the planet”…they have a great friend, of course, in Justin Trudeau whose National Energy Program 2.0 (an even bigger disaster than his father’s original NEP) has seriously damaged the country’s Oil and gas sector…a pipeline, even one that it currently owns, will never get built under this government, while the anti-Oil Liberals continue to abuse ordinary taxpayers with carbon taxes and other “green” schemes…

4. J.P. Morgan Chase (JPM, NYSE) CEO Jamie Dimon raised concerns today that rising interest rates and geopolitical flareups could derail U.S. economic growth…“The economy is still very strong, and that’s across wages, job creation, capital expenditure, consumer credit; it’s pretty broad-based and it’s not going to be diminished immediately,” Dimon said in a media conference call following his bank’s earnings report…“I was pointing out the probabilities that I thought were higher that rates would go up.  I still believe that. I do think you’re going to see higher rates.  If rates go up because you have inflation, that is not a plus. That is a bad thing.  So far, we still have a strong economy in spite of these increasing overseas geopolitical issues bursting all over the place”…Dimon rattled off a list that included the Trump administration’s trade dispute with China, Brexit, the unwinding of bond-purchasing programs by central banks around the world, as well as flareups across Europe, the Middle East and Latin America including in Italy and Turkey…all sounds good for Gold

5. Ford’s (F, NYSEsales in China dropped 43% in September from the same month a year earlier, a sign that sales are slowing in the world’s largest car market…this is the 3rd straight month of declining auto sales in China…the second-largest U.S. automaker has been hit by the ongoing trade dispute between the U.S. and China, despite the fact that Ford sells cars in China through partnerships with local firms…Ford shares are bouncing off a 52-week low, down nearly 30% since the beginning of the year…

6. Aphria (APH, TSX) announced this morning that it earned nearly $21.2 million in its latest quarter ending August 31, up from $15 million during the same period last year…Aphria’s profit amounted to 9 cents per diluted share compared with a profit of 10 cents per diluted share in the same quarter last year when it had fewer shares outstanding…revenue for the quarter totalled $13.3 million, up from $6.1 millionAphria says its Canadian-based production capacity is on schedule to reach 255,000 kgs per annum while the company has also signed supply agreements with every province in Canada and the Yukon Territory, ensuring access to Aphria products for 99.8% of the Canadian population…shares of Aphria shot higher earlier this week after a report that U.S. tobacco giant Altria Group was in talks with the licensed cannabis producer to acquire an equity stake in the company…

7. The Dow has rebounded 335 points as of 7:00 am Pacific as worries over rising rates subside, at least temporarily, and tech shares recover from steep losses earlier this week…a slew of better-than-expected bank earnings also helped boost the market this morning…in Toronto, the TSX has climbed 130 points while the Venture is 6 points higher at 697Canada Cobalt (CCW, TSX-V) has jumped 4 cents to 58 cents as a major new technical breakout unfolds in the world’s #1 performing Cobalt stock in 2018…fresh results from the Castle mine and property are expected shortly…as drilling and pilot plant work continue at Castle, CCW is the first junior in North America during this “battery arms race” to produce a Cobalt sulphate product from its own mineralized material, thanks to its revolutionary Re-2OX process…GT Gold (GTT, TSX-V) has pulled back slightly in early trading after doubling in value since Tuesday following news of another world class drill hole (#93) at the company’s Gold-rich porphyry discovery at Saddle North in the Red Chris district…this is the most significant grassroots Gold-Copper porphyry discovery in many years in British Columbia…weather remains unusually mild in the Eskay Camp where Garibaldi Resources (GGI, TSX-V) continues to aggressively drill at Nickel Mountain, including immediately adjacent to and beneath the receding icefield…geologists are following the trail of fresh massive sulphides exposed in outcrop, thanks to melting ice, in an area north of the Discovery zone and northeast of the Northwest zone…Next Green Wave Holdings (NGW, CSE) is up 2 pennies at 71 cents on its 3rd day of trading on the CSE…Rusoro Mining (RML, TSX-V) is up on news that it has agreed on the terms of a settlement proposal with the government of Venezuela…what are the odds, though, of Rusoro collecting even a nickel of the $1.28 billion (U.S.) it is owed by that corrupt and crumbling regime?…“We are very pleased that we have agreed on terms of a settlement with Venezuela,” commented Vladimir Agapov, chairman of Rusoro“We look forward to the execution of the settlement agreement and towards our continued relationship with Venezuela in assessing two of Rusoro’s former Gold projects regarding a potential partnership to restart production of the Choco 10 and San Rafael-El Placer mines”…okay, sure, Vladimir…

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19 Comments

  1. The long awaited news finally came today for AIS. Looks very good now moving forward.

    Comment by Raffi14 — October 12, 2018 @ 9:29 am

  2. WHY did Albertans sell their souls & their production ALL in one direction!!!

    Comment by bar — October 12, 2018 @ 9:39 am

  3. Agree, Raffi14! I bought back in today. It’s a shame AIS got beaten down so bad while waiting on those permits but things are really looking up now!

    Comment by adrobyshev — October 12, 2018 @ 10:10 am

  4. BGM sounds like a lawsuit is coming for employee inside info.

    Comment by donald — October 12, 2018 @ 10:51 am

  5. What does that mean for BGM? Anything?

    Comment by Sameer — October 12, 2018 @ 12:14 pm

  6. CCW finished strong as you called it BMR. Looks like good news on the way.

    Comment by flyinthruu — October 12, 2018 @ 1:20 pm

  7. Sameer, Reference in morning 7 @ 7:00

    Comment by Robert — October 12, 2018 @ 1:34 pm

  8. CCW: finally, It is getting the attention and appreciation It deserves!!!!

    Comment by Tran — October 12, 2018 @ 1:36 pm

  9. CCW something happening

    Comment by Patrick — October 12, 2018 @ 1:50 pm

  10. canada-stock-market-manipulation-transparency

    https://www.equedia.com/canada-stock-market-manipulation-transparency-issues/?utm_campaign=shareaholic&utm_medium=facebook&utm_source=socialnetwork

    Comment by robtr31 — October 12, 2018 @ 2:59 pm

  11. For comparison, Maui is 188400 Hectares. That’s a huge claim.

    Comment by Gojira — October 12, 2018 @ 3:07 pm

  12. Jon, any thoughts on JUGR? Very lack lustre first assays, thatbwerr apparently rushes… not nsure why they would rush those assays since they were the shallow cores that didn’t hit anything yet according to their surveys….

    Comment by Phil — October 12, 2018 @ 3:42 pm

  13. Robtr31 GGI IS BEING MANIPULATED that has been obvious to me for quite a while and I have been wondering why insiders and people in the know are letting this happen. I have always thought that short selling should be illegal, if you like a company you buy into it and if you don’t like it you don’t. We live in a crooked world and the small fish like us don’t seem to have much of a chance to thrive.
    I would be interested to hear about you guys think about this, Jon please.
    Thank you all.

    Comment by jasi — October 12, 2018 @ 8:53 pm

  14. @jasi Investing on a stock exchange has always been a business in my mind, so I don’t really agree with you in regards to short selling (never done it myself). Everyone in the business should be allowed to profit, as long as they are using legally allowed practices. That being said, not everyone can profit in every business, so I suggest sticking with what you know and are comfortable with. Diversification is usually the key for people such as myself that are trying to navigate this business and earn a little extra cash.

    Comment by Lady — October 13, 2018 @ 6:29 am

  15. Manipulated as in how and why? are you saying that the price is being intentionally pushed down?

    Comment by Paul — October 13, 2018 @ 7:56 am

  16. Hi Paul if you watch the trading it is obvious to me as soon as it’s start to go up it’s sold down and often at the end of the day.
    Lady did you read the article posted by robtr31 why did they made it illegal to short the banking system and not the rest of the stock market ?

    Comment by jasi — October 13, 2018 @ 8:21 am

  17. I don’t see anything wrong with shorting but I do take issue with naked shorts and Canadian regulators doing nothing about it. At least SEC is going after some manipulators in the US but our exchanges are very reluctant to issue fines or to pursue extensive investigations.

    Comment by AlGreene — October 13, 2018 @ 8:22 am

  18. jasi totally agree with you.imho short selling should be banned it does not reflect real value,ie for illustration purposes you say your house is valued at 1,000,000 dollars,but a short seller has moved into your neighbourhood and found a willing participant to play along,they sell a home for 300,000 dollars,and thereby causing a re-evaluation on your asset,this in a crude way is a short seller they distort real value.eddy

    Comment by eddy — October 13, 2018 @ 9:16 am

  19. If GGI comes with great results, all share price manipulation theories will be forgotten as the shares rocket higher.

    Comment by Paul — October 13, 2018 @ 2:16 pm

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