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February 11, 2019

7 @ 7:00

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

1. Gold has traded between $1,303 and $1,313 so far todayas of 7:00 am Pacific, bullion is down $an ounce at $1,306…outflows from global Gold-backed ETFs occurred every day last week, says Commerzbank“After Gold ETFs registered inflows of a good 70 tonnes in January, outflows since the start of February have totaled nearly 20 tonnes”…Silver has lost 13 cents to $15.68 as it continues to grapple with key resistance in the $15.70’s…Nickel and Copper are both up slightly at $5.69 and $2.81, respectively, while Zinc is off a penny at $1.21…Crude Oil has retreated another $1.39 a barrel after a big slide last week while the U.S. Dollar Index has jumped nearly half a point to 97.06 as it gains fresh momentum above its 50-day moving average…major resistance exists around 97.50, last year’s highs…President Trump will return in earnest to campaign posture today, holding his first rally of the year in the shadow of the Mexican border and in the hometown of a potential rival and far left Democrat Beto O’Rourke…Trump will use his appearance to make a case for a congressional spending deal that would fund a physical barrier along the Southern border and avert another partial government shutdown before the deadline at week’s end…as of Sunday, negotiations between the two parties had broken down…

2. This is what can happen when governments interfere in the market: Alberta’s effort to alleviate a Crude glut through mandatory production curtailments may be backfiring, as Canadian heavy Crude has suddenly become too expensive to ship by rail2 months after the provincial NDP government announced the cuts, with the support by the way of Jason Kenney’s Conservatives, Crude-by-rail shipments are declining even as pipelines remain at or near capacity…rail volumes fell a staggering 56% last week compared with 3 weeks earlier, after setting a record in December, according to Genscape Inc. which monitors Crude-by-rail loadings at some of the larger terminals in Western Canada…“The rail economics are seriously damaged, and a lot of the rail movements are stopping or have stopped,” Suncor Energy (SU, TSX) CEO Steve Williams said on a conference call last Wednesday with analysts…“That’s going to have the opposite impact to what the government wants”…the level of political incompetence when it comes to handling Canada’s Oil sector is beyond comprehension…

3. Chemesis International (CSI, CSE) has hit a new all-time high after announcing plans to add an additional 25,000 sq. feet of manufacturing in Cathedral City, California…with the recent commercialization of its fully compliant state-of-the-art extraction facility, the company is moving forward with this expansion plan and anticipates completion of the additional manufacturing space during the 2nd quarter…the facility will be full state compliant for manufacturing, packaging, distribution and transportation allowing for products to be distributed directly to state licensed dispensaries…with this expansion, the company has the ability to further increase its finished goods portfolio, which will include beverages, edibles and other consumer goods…“With the company’s recent acquisition of a new low-temperature extraction methodology, we will also be able to expand our offerings to include other cannabinoids at higher concentration in our finished goods,” stated Chemesis CEO Edgar Montero…”The manufacturing expansion will maximize efficiencies, and will also increase production capacity for Chemesis’s brands, including California Sap and Jay & Silent Bob’s Private Stash, as well as third party brands”

4. RNC Minerals (RNX, TSX) announced this morning that it’ll be displaying the recently-discovered “Father’s Day Vein” Gold specimens, which it believes are among the largest of their kind ever unearthed, at the Tucson Gem and Mineral Show® (TGMS) from February 1417…according to TGMS, this is the largest, oldest and most prestigious gem and mineral show in the world…in September 2018, investors cheered the Father’s Day Vein discovery by RNC, which has yielded more than 25,000 ounces of Gold worth in excess of $40 million (CDN) including what is believed to be among the largest Gold specimens ever unearthed, including King Henry containing 1,402 ounces, Warren containing 893 ounces, and several other spectacular high grade specimens…

5. Pure Gold Mining (PGM, TSX-V) has released an independent Feasibility Study on its 100%-owned Madsen Gold Project in the Red Lake district, outlining a robust 12-year high-grade, 800-tonne per day underground mining operation with low initial capital cost and an after-tax IRR of 36%…other highlights include after-tax NPV(5%) of $247 million with a 3.4-year payback of initial capital, LOM all-in-sustaining cash cost estimated at $787 (U.S.) per ounce of Gold recovered, and peak annual production of approximately 125,000 ounces…Probable Reserves are 3.5 million tonnes at 9 g/t containing 1 million ounces of Gold…the initial capital requirement is $95 million including a 9% contingency…Darin Labrenz, President and CEO of Pure Gold, stated, “The Madsen-Red Lake orebody is an exceptional foundation on which to build a Gold mining company.  With access to existing infrastructure, a high grade reserve, and exceptional growth potential, Madsen is one of the outstanding Gold deposits in Canada.  The completed study outlines a long life high margin mine, with low initial capital requirements and a fast timeline to production.  In addition, specific exploration targets and satellite resources not considered in the feasibility study suggest an opportunity for near-term growth to potentially further enhance the economics of the project. With the completion of the feasibility study being one of the last de-risking steps, we look forward to rapidly advancing Madsen-Red Lake to become Canada’s next Gold mine”…some selling pressure came into PGM on the FS news, which often happens, as the stock retreated to its rising 50-day SMA in the upper 60’s where there’s strong support…

6. The Dow is up 16 points through the first 30 minutes of tradingin Toronto, the TSX is down 7 points while the Venture is off 1 point at 611Tidal Royalty (RLTY.U, CSE) was halted pre-market, pending news…the U.S.-focused cannabis royalty play closed Friday at 26 cents…2 hot Gold stocks from last week continue to push higher…Amex Exploration (AMX, TSX-V) is up 4 pennies at 75 cents in early trading…this morning the company announced that it has appointed Kelly Malcolm as VP-Exploration (he previously acted as a technical adviser and QP to Amex)…Malcolm was involved in the discovery and delineation of Detour Gold’s (DGC, TSX) high-grade 58N Gold deposit, and has acted as a director, adviser or management for several public and private mineral exploration companies…also pushing higher out of the gate this morning is Max Resource (MXR, TSX-V) which jumped 36% last week to close Friday at 38 cents…nearest Fib. resistance is 40 cents followed by 55 cents…this morning Max announced that it has executed the final Novita Project asset purchase agreement with Noble Metals Ltd. and its subsidiary, and received conditional approval from the Venture for the transaction…the Novita agreement area encompasses or is adjacent to the company’s Choco Precious Metals Project, located 100 km SW of Medellin, Colombia…Lawrence Roulston’s Auramex Gold (AUX, TSX-V), trading at just 4.5 cents with only 45 million shares outstanding, continues to quietly assemble a large and very prospective package of high-grade Gold opportunities in Northwest B.C.’s Stewart area…this morning, the company announced it has agreed to an option to acquire the Rufus Property located immediately north of Highway 37A, 25 km north of Stewart and contiguous with the company’s Champion and Icefield properties in the well-mineralized Bear Valley…the Auramex geological team conducted reconnaissance work on several of its Stewart properties over the past year…that work has added greatly to the geological understanding of the Stewart Camp, with special emphasis on Auramex‘ Bear Pass, Lower Bear and Georgie River areas…summaries of 2018 exploration on these projects will be released in the coming weeks….currently, the team is finalizing its data compilation and preparing for the 2019 field season which will include diamond drilling of some key targets…

7. Benchmark Metals (BNCH, TSX-V) has cut 52 g/t Au and 856 g/t Ag over 3 m within a broader interval of 33.5 m grading 5.7 g/t Au and 129 g/t Ag in the Dukes Ridge zone of its Lawyers Gold and Silver Project in the Golden Triangle…drilling in 2018 has expanded the potential resource area, indicating Gold-Silver mineralization with a total strike length of at least 530 m that is open at depth below 80 m…a total of 1,304 m in 13 shallow drill holes were completed at Dukes Ridge, with 6 holes grading above 1 g/t Gold equivalent over intervals of greater than 10 m…CEO John Williamson commented, “The new drill results provide bulk tonnage drill intercepts that envelope high-grade Gold-Silver veins from surface. These results will significantly expand the overall size of the Dukes Ridge zone that remains open for additional step-out drilling in 2019.  This, in combination with results of previous and planned drilling at the Cliff Creek, Dukes Ridge and Phoenix mineralized zones, is leading to a significant increase in the existing estimate of mineral resources at the Lawyers Project.  Previously described as discreet mineralized zones, evidence is growing to suggest that these zones may be interconnected with continuous mineralization over a 3-plus-km strike length, representing the heart of a mineral resource with significant potential for expansion along the major NW-SE oriented Lawyers trend”

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1 Comment

  1. Imr could easily be another Ggi in the making, suckers are selling at these prices

    Comment by Gregory — February 11, 2019 @ 12:24 pm

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