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Check back later this morning for today’s BMR Morning Market Musings.

1. Gold has traded between $1,244 and $1,250 so far today…as of 7:00 am Pacific, bullion is up $5 an ounce at $1,249…the yellow metal is clearly in the midst of a breakout above key resistance around $1,235 and the next target area is in the $1,260’s…Silver is relatively unchanged at $17.52 while the U.S. Dollar Index has recovered one-tenth of a point to 99.80…

2. Crude Oil prices have hit their lowest levels since November on expanding U.S. inventories but are still holding above key technical support at $46…WTI is down 54 cents at $47.70 as of 7:00 am Pacific…energy stocks are the S&P 500’s worst performing sector this year, down nearly 8% through yesterday…

3. The broader markets are under pressure again in early trading following’s yesterday’s sharp drops in New York and Toronto…the Dow is off 64 points while the TSX has lost 61 points through the first 30 minutes of trading…it’s Budget Day in Ottawa…rumors are circulating of a possible increase in capital gains taxes which would be an atrocity against investors given the federal government’s wasteful spending that has turned a budget surplus into a substantial deficit…the Venture has retreated 3 points to 801 as of 7:00 am Pacific…

4. Atlantic Gold (AGB, TSX-V) is one of the Venture volume leaders this morning after hitting a new multi-year intra-day high of $1.22 yesterday…last Thursday the company released positive assay results from a further 34 holes of resource definition diamond drilling being undertaken at its Fifteen Mile Stream Gold Project in Nova Scotia as the company aims to move Inferred resources to Measured and Indicated…a single rig is presently drilling on the property with 110 holes for 10,220 m of the planned 25,000 m having been drilled to date…AGB is up 4 cents at $1.15 as of 7:00 am Pacific in trading that included a 1.5 million share cross…

5. Bonterra Resources’ (BTR, TSX-V) was halted pre-open, pending news…yesterday the company released more encouraging drill results from its Gladitaor Gold deposit in Quebec, outlining additional high-grade Gold zones near surface on the west side Rivage Gap extension…3 drill rigs are currently operating at Gladiator with a 4th drill rig being considered for the on-trend Coliseum Gold Property…BTR closed up half a penny yesterday at 36 cents…

6. Integra Gold (ICG, TSX-V) has completed an updated resource estimate for its Triangle deposit at its 100%-owned Lamaque Gold Project in Val d’Or…the update incorporates 118,000 m of new drilling into the resource estimate for Triangle where Indicated resources have doubled from 737,590 Au ounces to 1,473,530 Au ounces grading 7.3 g/t Au while Inferred resources have decreased 1% from 1,004,170 Au ounces to 991,800 Au ounces at an average grade of 5.7 g/t Au..in total, the Lemaque deposits feature 8.4 million tonnes @ 7.09 g/t Au in the Indicated category (1.9 million ounces) and 7.1 million tonnes @ 5.9 g/t Au in the Inferred category (1.3 million ounces)…with a robust market cap of $370 million, ICG’s Gold in the ground is being valued at about $115 per ounce…

7. Someone with deep pockets has made a major investment into Canopy Growth (WEED, TSX)…the company announced this morning that it has completed a private placement with 1 investor for 2.5 million shares at $9.50 per share, raising aggregate net proceeds of $24.5 million…meanwhile, Aphria (APH, TSX) began trading on the TSX this morning as the Venture loses one of its high-flying plays…Aphria is one of the lowest-cost producers in the cannabis industry…in January this year, the company announced that its board approved a $137–million capital project to increase Aphria’s capacity greenhouse growing footprint capacity from 300,000 sq. feet to 1 million sq. feet, positioning the company to support continued mid-term demand expectations and growth as the market for cannabis expands….

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