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December 19, 2019

7 @ 7:00

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

1. Gold has traded between $1,473 and $1,478 so far today…as of 7:00 am Pacific the yellow metal is up $1 an ounce at $1,476Silver is steady at $16.97…base metals continue to perform well…Nickel has jumped 15 cents to $6.43 while Copper and Zinc have each added a penny to $2.79 and $1.06respectively…Crude Oil (WTI) is 8 cents higher at $61.01 while the U.S. Dollar Index is flat at 97.38… Chicago Federal Reserve Bank President Charles Evans says the U.S. economy is doing “remarkably well” with a vibrant labor market and a strong consumer, but he’s “personally worried” that inflation continues to run below the Fed’s 2% target…the Fed should allow it to rise above that level so it can average 2% over time, a position shared by Fed chief Jerome Powell…Evans voted for all 3 Fed rate cuts this year, and also supported the decision earlier this month to leave interest rates where they are in a target range between 1.5% and 1.75%…Sweden’s central bank (Riksbank) raised its key interest rate to zero percent overnight…this has some market watchers thinking other major central banks around the world which have negative interest rates are also on a path to slowly raise them – assuming, of course, global growth picks up…China has unveiled a new list of import tariff exemptions for 6 chemical and Oil products from the United States, days after the world’s 2 largest economies announced a Phase 1 trade deal…the exemptions will be for 1 year from December 26, the Finance Ministry said…

2. The far left Democrats in the U.S. House of Representatives started to think about impeaching Donald Trump as soon as he upset Hillary Clinton in the November 2016 election, before he even walked into the Oval Office…they finally realized their dream last night when Trump became just the 4th President in American history to be impeached by the House…of course this impeachment is dead on arrival in the Senate, but what the Do Nothing Democrats should really be concerned about is the nightmare to follow for them – the reaction of everyday Americans when they go to the polls again next November…Trump, focused like a laser beam on the economy which is what Americans really care about, is now is an ideal position to win a landslide in 2020 – the White House, the House of Representatives (retaking it from the Democrats) and the Senate…through the entire impeachment process, Wall Street has been hitting new record highs and one poll after another has shown a deterioration of support for impeachment while Trump’s approval numbers have been going up…the President was with the people last night, holding a massive rally in the key state of Michigan, while the Trump campaign raked in another $5 million in donations – Republican fundraising numbers are going through the roof…Democrats, who unlike Trump have no concept of branding or marketing, are doomed despite the support of their friends in the mainstream media – Wall Street knows it and loves it…the S&P 500 is up nearly 7% since House Speaker Nancy Pelosi launched a formal impeachment inquiry in September…during Clinton’s impeachment process, which ultimately didn’t work out well for Republicans, the broad index surged more than 26%…

3. Good grief – does this come as any surprise from the anti-resource globalists and climate change alarmists in Ottawa who presided over an economy that lost over 70,000 jobs last month including 6,500 in the resource sector?…federal Environment Minister Jonathan Wilkinson says he is “wrestling” with the approval of Teck Resources‘ (TECK.B, TSX) proposed Oil sands mine, saying it’s not clear the project would fit into the Liberals’ environmental goals…“That is something that we will have to be discussing and wrestling with as we make a decision one way or the other,” Wilkinson told reporters in Calgary yesterday…the Frontier Project north of Fort McMurray would mark the most significant new investment in the Alberta Oil patch in years – and Team Trudeau is “wrestling” with that concept…the Frontier Project is expected to generate 7,000 construction jobs and 2,500 permanent jobs…Wilkinson yesterday signalled that the2050 target” could weigh heavily on his decision to either approve or reject it…

4. Wallbridge Mining (WM, TSX) has raised another $7.9 million, some of it from Eric Sprott as he adds to his position in the company…a total of 5.4 million flow-through shares were issued at 95 cents per share while 5.4 million super flow-through shares were issued at $1.05 each…Sprott purchased nearly 3 million of the 95-cent shares to boost his holdings to 124,354,063 shares representing approximately 21.2% of the outstanding shares on a non-diluted basis…“The completion of this financing gives us additional financial flexibility to achieve our goals of advancing Fenelon and pursing additional advanced-stage projects which would add to the Company’s near-term project pipeline,” stated Marz Kord, Wallbridge President & CEO…“We are also pleased that Eric Sprott has chosen to participate in this private placement”WM has hit a new high of 90 cents in early trading…it’s up 3 pennies at 87 cents as of 7:00 am Pacific

5. Newly-listed HighGold Mining (HIGH, TSX-V) has drilled 29 g/t Au and 33.2 g/t AuEq over 20 m, within a broader interval of 75.1 m (253.9 to 329 m) grading 10 g/t Au and 17.8 g/t AuEq (ETW 40 m), in a hole (JT19090) designed to better define the lower portion of the Johnson Tract deposit in Alaska…this intersection expands the zone of thickest and highest-grade mineralization 20 m to the northeast…it’s open on strike to further expansion…meanwhile, another hole has produced a new Footwall Zone Discovery – a new Silver-Copper-Zinc-rich vein system discovered at depth in the footwall to the main JT deposit (20.7 m at 32 g/t Ag, 2.4% Cu and 4.9% Zn in JT19089) including 7 m @ 66 g/t Ag, 4.7% Cu and 9.7% Zn (true width unknown)…“The discovery of new, significant and distinctive mineralization in the footwall to the JT deposit is a strong indication of the high exploration potential at Johnson,” commented HighGold President & CEO Darwin Green…“What makes it all the more encouraging is that the discovery was made during a first-pass drill program focused on deposit confirmation and expansion. Equally important, this step-out drilling has expanded the thickest and highest-grade portion of the JT deposit, which remains open along strike and at depth”HIGH is up 14 cents at $1.40

6. The Dow has climbed another 53 points as of 7:00 am Pacific…in Toronto, the TSX is up just 7 points while the Venture has pushed 3 points higher to 542…based on the latest charts, the Index is expected to break out vigorously past 540 toward its 200-day SMA and Fib. resistance in the 580’s…from there, perhaps after a brief pause to catch its breath, the Index should once again get above the 600 level…the metals space should help lead the way…Balmoral Resources (BAR, TSX) hit a new high of 44 cents before backing off…Canada Cobalt (CCW, TSX-V) is briefly consolidating around the 50-cent level in a very bullish technical pattern supported by multiple factors on the ground including what’s shaping up to be the best grassroots discovery in the Northern Ontario Silver-Cobalt district in 40 years…follow the money – Eldorado Gold (ELD, TSX) is taking a 19.99% interest in QMX Gold (QMX, TSX-V) through a private placement at 6 cents per share (68.1 million shares)…this transaction significantly strengthens QMX’s balance sheet as the company works to expand its Bonnefond deposit and broadens its exploration programs to include other highly prospective targets across its nearly 200 sq. km property…QMX, focused on the Val d’Or mining camp, is up a penny at 6.5 cents as of 7:00 am PacificPalladium One (PDM, TSX-V) hit a new multi-month high of 12.5 cents yesterday following news that the company’s Palladium dominant LK PGE-Nickel-Copper Project in central Finland has had 7 of 8 exploration permit renewal applications approved by the Finnish mining authority, while the 8th remains under consideration…PDM is up half a penny at 11.5 cents…

7. A supply crunch is coming and this will cause commodities to skyrocket in 2020, according to Frank Holmes, CEO of U.S. Global Investors“This theme of ESG, environmental, social governance, is driving everything and it’s going to harm exploration.  We’re going to see a supply-side restriction but people are going to have babies and the world is going to chug along and grow, but the commodities aren’t going to be there,” Holmes said, adding that a huge price rally would follow…on equities, Holmes says U.S. markets may still be the best option for stocks…“I don’t think (stock markets) are frothy and I don’t think there are many other places to go, and I think that what you have to recognize is that some of these other central banks like Switzerland are printing money out of the thin air,” he said…Holmes noted that today’s macroeconomic environment requires investors to continue to hold Gold“You have to have Gold because there are going to be imbalances with currencies back and forth and China and India, 30 years ago, were 10% of the global consumption of Gold, but today they are 50% of the consumption of Gold and that’s correlated to rising GDP per capita”

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  1. What are the chances that CCW Frank actually has assays from the first hole to release before Christmas, as was alluded to? Or is this another case of dangling the carrot, and “over promising, while under delivering”? We have momentum for now, hope they use it to their advantage this time.

    Comment by Phil — December 19, 2019 @ 8:06 am

  2. Frank is a big guy, Phil, but this is a very large and heavy carrot – I don’t think it’s possible for him just to dangle it! Keep in mind, too, there’s a new Sheriff in town – Matt Halliday, ex-Kirkland Lake Gold…

    Comment by Jon - BMR — December 19, 2019 @ 9:00 am

  3. How does one reach BMR on an administration matter (subscriber account)?

    Comment by DR829 — December 19, 2019 @ 9:25 am

  4. I’ll have our admin. person reach out to u this morning, DR829…inquiries are admin@bullmarketrun.com…important – make sure BMR’s email address is on your approved list, otherwise it may go into your spam/trash file…

    Comment by Jon - BMR — December 19, 2019 @ 9:36 am

  5. My o my, if they reject that Teck project, I’ll say all hell is going to break loose, and rightfully so…

    Comment by Laddy — December 19, 2019 @ 10:56 am

  6. It’ll be all-out war if they reject that project, Laddy…

    Comment by Jon - BMR — December 19, 2019 @ 11:14 am

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