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June 11, 2019

7 @ 7:00

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1. Gold has traded between $1,319 and $1,330 so far todayas of 7:00 am Pacific, bullion is off $3 an ounce at $1,324…technically, short-term overbought conditions emerged after an 8-session winning streak that pushed the metal up by more than $60 an ounce…a strong new support band begins at $1,313…Silver is up 2 pennies at $14.69…base metal prices are up and Chinese stocks enjoyed their best day in over a month as Beijing said it would accelerate financing of major infrastructure projects via “special-purpose bonds” issued by local governments…“The government will need to boost domestic consumption to support the economy,” said Zhang Gang, a senior analyst at Central China Securities…Copper is up 2 pennies at $2.66…Nickel has jumped 12 cents to $5.40 while Zinc is 3 cents higher at $1.21…Crude Oil has added 33 cents to $53.59 while the U.S. Dollar Index is relatively unchanged at 96.78…President Trump said this morning that the U.S. is at a disadvantage compared to other major currencies like the euro as other central banks keep interest rates low while Federal Reserve rates are higher by comparison…“The euro and other currencies are devalued against the dollar, putting the U.S. at a big disadvantage,” Trump tweeted, adding the Fed doesn’t have “a clue”…fresh economic data released this morning showed the U.S. Producer Price Index (PPI) rose 0.1% in May, in line with expectations…wholesale inflation on an annualized basis is up a modest 1.8%…

2. Major North American equity markets are closing in on their all-time highs despite the mainstream media’s obsession with U.S-China trade issues…the S&P 500 was 2.3% away from its all-time high of 2,954 through yesterday’s close…the Dow was 3.3% from its high while the NASDAQ was 4% from its record…the TSX, meanwhile, closed 2.7% below its all-time high yesterday…stocks typically do well in June after a weak May…the prospect of lower interest rates could keep markets in a bullish state…

3With more deal action in the southern hemisphere, Canaccord Genuity Group is paying $17.6 million for Australian-based Patersons SecuritiesCanaccord says the deal will give the company an edge in finding customers Down Under…“This business combination creates a leading Australian capital markets, stockbroking and wealth management business with a powerful offering for our respective corporate, institutional, and private clients,” said Marcus Freeman, CEO of Canaccord Genuity Australia…Australia caught the industry’s notice last month when St Barbara (SBM, ASX) acquired Venture-listed Atlantic Gold (AGB, TSX-V) for approximately $800 million (CDN)…in March, Newcrest Mining (NCM, ASX) acquired a 70% interest in Imperial Metals‘ (III, TSX) Red Chris mine for $806 million (U.S.) in cash…Australian producers are cashed-up due to a favorable currency and a focus on cash flow…expect more deals over the coming months…

4. The Dow, on a 6-session winning streak, has jumped 102 points in early tradingin Toronto, the TSX is up 65 points while the Venture is 2 points lower at 593…May statistics show that the Venture welcomed 9 new issuers (7 capital pool companies, 1 mining company and 1 life sciences company) in May compared with 10 the previous month and 13 in May 2018…total financings raised last month decreased by 22%, compared with the previous month, and were down by 48% when compared with May 2018…there were 126 financings in May 2019 compared with 133 in the previous month and 117 in May 2018Midas Gold (MAX, TSX) has arranged a $19.9 million bought deal financing at 60 cents per share with RBC Capital Markets and BMO Capital Markets and a syndicate of underwriters…proceeds will be used to advance a feasibility study and permitting for the redevelopment and restoration of the Stibnite Gold Project in Idaho…Barrick (ABX, TSX; GOLD, NYSE) is participating in the financing and will bump up its interest in Midas from 19.6% to 19.9%…Corvus Gold (KOR, TSX) has cut 48.8 m @ 1.15 g/t Au (ML19114) and 36.6 m @ 1.6 g/t (ML19118) to expand its Mother Lode deposit in Nevada to the north…both holes were lost in the upper zone of the deposit…they bracket drill hole ML-19104, released in March, that returned 126.5 grading 1.85 g/t Au…meanwhile, trace element results returned from hole 104 now confirm a new style of Gold-Silver mineralization at Mother Lode, with many characteristics of a deeper, hotter system with an intrusive/Carlin style signature…Osisko Mining (OSK, TSX) reports an average grade of 8.5 g/t Au from a 5,500-tonne bulk sample mined from Zone 27 at its Windfall Lake Project in Quebec…the grade is 26% higher than predicted by infill drilling on the resource block model…

5. Great Bear Resources (GBR, TSX-V) has mobilized a 3rd drill rig to its 100%-owned Dixie Project in the Red Lake district as part of its continuing fully financed, 60,000-m drill program…the 3rd drill will target the new Bear-Rimini Zone and the “LP Fault”, which is the 18-km-long structural target that is adjacent to, and partially hosts, the latest discovery…drilling is expected to begin at the Bear-Rimini Zone using the 3rd drill rig within a few days…the Bear-Rimini discovery consists of multiple zones of shallow high-grade Gold mineralization in drill hole DNW-011…highlight intervals include 14 m of 12.3 g/t Au including 4.6 m @ 30.9 g/t and 2 m of 194.2 g/t…the high-grade intervals were intersected at less that 100 m vertical depth in the footwall of the LP Fault…mineralization within the fault zone itself returned a separate interval of 50.60 m of 0.74 g/t…15 additional historical drill holes have also cut the LP Fault along 2.5 km of strike length and intercepted similar lower-grade mineralization to that observed within the fault in DNW-011…Chris Taylor, President and CEO of Great Bear, commented, “Approximately 30,000 meters of our fully-funded 60,000 meter drill program remain to be drilled this year.  Two drill rigs are currently on site at Dixie and will continue to drill the Hinge and Dixie Limb Zones.  The third drill rig is expected to be dedicated to ongoing drilling of the Bear-Rimini Zone and LP Fault.  The company will continue to systematically and rapidly explore the high-grade Gold zones discovered to date, plus several additional high priority targets that have also been identified across the property”

6. Tudor Gold (TUD, TSX-V) has commenced a 2-phase drill hole program at its flagship Treaty Creek Property in the Eskay Camp…diamond drilling has started on the Goldstorm zone which is on trend from the Seabridge Gold (SEA, TSX) Iron Cap deposit 5 km to the southwest…the focus of the program at Goldstorm is to expand Gold mineralization to the southeast in the direction of the footwall zone and to attempt large step-outs to the northeast along the strike of the mineralized trend…Tudor Gold Exploration Manager Ken Konkin stated, “The Goldstorm target appears to be a large body of Gold mineralization that has been traced for approximately 500 m along strike and appears to be approximately 300 m in width.  We have yet to encounter the footwall contact zone and the last hole drilled in 2018 was on a 100-m step-out along strike to the northeast.  This drill hole, CB1839, yielded one of the best results of the project to date (0.98 g/t Au over 563.8 m ).  The richer Gold-bearing horizons occur near-surface within the uppermost parts of the Goldstorm body”

7. Alberta Premier Jason Kenney says First Nations-led proposals to buy the Trans Mountain pipeline could be a “game changer” for obstacles facing the expansion project…Kenney met with First Nations leaders yesterday to pitch his government’s proposal for a Crown corporation to facilitate indigenous ownership of pipelines and other major energy projects…the United Conservative government plans to set up the Indigenous Opportunities Corp. this fall with $1 billion in loan guarantees and other financing, as part of a plan to elevate the voices of First Nations communities that support the stalled Trans Mountain expansion…several indigenous organizations, including Project Reconciliation and Iron Coalition, have been putting together proposals and seeking financing to make offers to buy part of the pipeline…“Whether it’s the Iron Coalition or Project Reconciliation, or the other projects, we encourage them in their efforts, but hopefully they can come to some sort of consortium so we’re not having to pick winners or losers,” Kenney stated…

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  1. It’s looking like the rest of the June .30 warrants for CCW will not get exercised. Not sure if that’s a good thing or not. I think I would much rather have the price at .40 and have the warrants get exercised.

    Comment by Danny — June 11, 2019 @ 12:34 pm

  2. I would guess that if tud and abn are set to drill, then ggi must be starting anytime now, or ,the ggi drills are already spinning. Is that orange chopper making multiple trips a day Jon? Let’s hope so.

    Comment by Laddy — June 11, 2019 @ 1:52 pm

  3. Danny, I’m not so sure about that. I’m exercising my warrants now, even though they’re slightly out of the money, and a couple of other major shareholders I know are, or have just exercised theirs, as well. That’s because we believe in the company and how things are going to unfold. CCW is an excellent position going into the summer. Like I said, it’s back to new highs in 2nd half of the year, come hell or high water.

    Comment by Jon - BMR — June 12, 2019 @ 8:38 pm

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