7 @ 7:00 « BullMarketRun.com

June 10, 2019

7 @ 7:00

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1. Gold’s 8-session winning streak, its longest since June 2014, will likely be snapped today with the yellow metal off $13 an ounce at $1,327 as of 7:00 am Pacific…technically, short-term overbought conditions emerged after last week’s $35 climb…a strong new support band begins at $1,313…China’s central bank remained a Gold buyer during May for a 6th straight month…the People’s Bank of China upped its Gold reserves to 61.61 million ounces in May from 61.10 million in April…this was a rise of 15.86 tonnes…China’s central bank has now bought some 74 tonnes of Gold since the end of November…elsewhere on the metals front, Silver has retreated 27 cents to $14.70 while Copper, Nickel and Zinc are all relatively unchanged at $2.63, $5.25 and $1.18, respectively…Crude Oil has slipped 22 cents to $53.77 while the U.S. Dollar Index, after falling more than a full point last week, has rebounded nearly one-third of a point to 96.84…however, the greenback remains vulnerable to further declines given deteriorating technical conditions…

2. President Trump told CNBC this morning that he believes China will make a deal with the U.S. “because they’re going to have to”…in a wide-ranging telephone interview broadcast on “Squawk Box”, Trump defended his threats to slap tariffs on Mexico and China, which he said are putting the U.S. “at a tremendous competitive advantage”…he added, “Right now, China is getting absolutely decimated by companies that are leaving China, going to other countries, including our own, because they don’t want to pay the tariffs. China is going to make a deal because they’re going to have to make a deal”…Mexico responded to Trump’s tariff threat at the end of last week by cutting an agreement with the Trump administration to help curtail the flow of illegal immigrants across the porous southern border…

3. In the Eskay Camp, where we’re reporting from this morning, Seabridge Gold (SEA, TSX) has announced that it has signed an Impact Benefits Agreement (IBA) with the Tahltan Nation in connection with the company’s proposed KSM Project…in a ratification vote among its membership, the Tahltan voted 77.8% in favour of the KSM Project IBA…the agreement represents another important milestone for KSM which features one of the world’s largest reserves of Copper and Gold…Seabridge Chairman and CEO Rudi Fronk commenced, “The Tahltan approach to engagement and negotiations has been professional and collaborative from the very beginning. We believe that the KSM IBA provides the basis for a genuine partnership between the KSM Project and the Tahltan Nation for decades to come. From our perspective, our on-going relationship with the Tahltan Nation, which began more than a decade ago, captures the spirit of mutual respect, common goals and sensitivity to local interests that are needed in the development of major mining projects”…

4. There continues to be no shortage of capital for hot B.C. exploration plays…Benchmark Metals (BNCH, TSX-V) is raising $5 million at 45 cents per share (above market) as announced this morning…this is a strong hard dollar PP that includes only half a warrant at 55 cents, good for 2 years…Benchmark’s Lawyers Project, a past producer, is situated in north-central B.C.’s Stikine terrane where magmatic events provided a source for mineralizing porphyry and epithermal systems…these mineralizing events form an arch of Gold and polymetallic deposits around the Bowser basin, from Red Chris through the Eskay Camp to the Stewart district, which Benchmark is referring to as the “Golden Horseshoe”…a week ago, Benchmark released further details on the historic Amethyst breccia zone (AGB zone), an area just 2 km from the main resource expansion area of the Lawyers Project that remains under-explored…historic drill intercepts from AGB include 260 g/t Au and 3,320 g/t Ag over 3 m, and 12.7 g/t Au and 143 g/t Ag over 28 m…Benchmark collected high-grade rock samples from this area last year up to 22.2 g/t Au and 1,265 g/t Ag…BNCH gapped up at the open this morning and is 3 cents higher at 37 cents as of 7:00 am Pacific…

5. The Dow has jumped 169 points in early trading after the news late Friday of the Trump administration deal with Mexico that avoided the imposition of tariffs…in Toronto, the TSX is up slightly while the Venture is flat at 597…cannabis stocks are trying to rebound after recent sharp losses…the Canadian Marijuana Index is up about 2% in early trading…Aben Resources (ABN, TSX-V) has commenced drilling at its 100%-owned Justin Project in the eastern Yukon, adjacent to Golden Predator’s (GPY, TSX-V) Three Aces Project…the 2019 program at Justin will entail 1,350 m of diamond drilling and 600 m of rotary air blast drilling (RAB), along with prospect-generating field work…the first phase will begin with the RAB drilling to follow up on high-grade Gold samples from trenching at the Lost Ace zone last year, including 20.8 g/t over 4.4 m…after the program at Justin is complete, by about the end of June, Aben will commence a major drill program at its Forrest Kerr Project in the Eskay Camp…

6. Alamos Gold (AGI, TSX) continues to intersect high-grade mineralization in a new area of focus at its Island Gold mine in northeast Ontario…this previously untested area between the Eastern and Western Extensions represents a 500-m gap between Inferred mineral resource blocks and is only 1,000 m from surface…highlights include 102.7 g/t Au over 3.94 m (MH18–05, true width) and 31.7 g/t over 2.95 m (MH18–04, true width)…all 5 drill holes in this area have intersected ore-grade mineralization…meanwhile, at the Main Extension, Alamos has cut 24.1 g/t Au over 6.3 m (MH17–06) and 6 g/t over 10 m (MH13–06), also true width…high-grade mineralization has been extended over 1,000 m east of the current mine workings and remains open along strike to the east and both up and down plunge…“Island Gold continues to be a tremendous success story on all fronts,” stated John McCluskey, President and CEO. “We just received the Phase II expansion permit this past month and ongoing exploration success continues to support strong potential for additional growth in mineral reserves and resources and a Phase III expansion of the operation. We’re extending high-grade mineralization across all three areas of focus and see excellent potential within the recently discovered area between the Main and Eastern Extensions where we are continuing to close the gap between high-grade resources”…AGI is off 17 cents at $6.72 on this morning’s mild correction in Gold prices…

7. Ballard Power Systems (BLDP, TSX), which has been a strong performing stock recently, has unveiled the company’s 8th-generation high performance fuel cell module, the FCmove-HD, at the UITP Global Public Transport Summit being held in Stockholm, Sweden…the culmination of product development and field experience based on almost 14 million km of vehicle operation, Ballard’s FCmove-HD fuel cell module is compact, robust and offers an impressive reduction in life cycle cost…launched today, the FCmove-HD fuel cell module is the first in a family of FCmove products to be introduced and is specifically designed to meet the requirements of transit bus operators…it will be used in 1,000 fuel cell electric buses (FCEBs) to be deployed in Europe by the new H2Bus consortium, which was announced on June 3…Future FCmove products will offer various power outputs to suit a broad range of commercial vehicles including trucks, coaches and trains…Randy MacEwen, Ballard President and CEO, stated: “Today, we see growing global interest in the compelling value proposition uniquely offered by fuel cell electric vehicles in medium- and heavy-duty transportation applications. With a 35% reduction in life cycle cost, the FCmove-HD module represents a major advancement in the cost competitiveness of fuel cell solutions for this market. Today’s product unveiling positions Ballard as the market leader in zero-emission PEM fuel cell power solutions for the heavy-duty motive market”…