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March 29, 2017

7 @ 7:00

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

1. Gold has traded between $1,248 and $1,255 so far today…as of 7:00 am Pacific, bullion is up $2 an ounce at $1,253 while Silver is off slightly at $18.13 as the U.S. Dollar Index recovers modestly after touching a nearly 4-month low..traders report that physical demand for Gold appears to be improving in India…meanwhile, yesterday’s big rebound in equities didn’t cause much of a retreat in the yellow metal even though holdings of SPDR Gold Trust, the world’s largest Gold-backed ETF, reported an outflow of 1.8 tons…bullion continues to have geopolitical factors in its favor…British Prime Minister Theresa May filed formal Brexit divorce papers today, pitching the United Kingdom into the unknown and triggering uncertain negotiations that will test the endurance of the EU…elections are also coming up in France while analysts are also keeping a close eye on political trends in Italy in the lead-up to an election there…in the U.S., the increasing probability of rising federal budget deficits should further underpin Gold

2. One of the Federal Reserve’s most consistent supporters of low interest rates said today that he’s with the majority of his colleagues in supporting further rate hikes this year, given progress on the U.S. central bank’s goals of full employment and stable inflation.  “My current dual mandate outlook allows me to support another one or two increases this year,” Chicago Fed President Charles Evans said in remarks prepared for delivery at a conference in Frankfurt.  “For the first time in quite a while, I see more notable upside risks to growth,” he added…

3. The Dow rebounded yesterday – not surprisingly – given certain extreme oversold technical conditions that emerged over an 8-session losing skid…a good rally into month-end seems very possible even though the Dow is off 50 points in early trading…in Toronto, the TSX has shed 20 points while the Venture is 1 point lower at 803…a key Fib. resistance band for the Venture runs from 817 to 824…a breakout above that band would set the market up for a strong upside move…

4. Granada Gold Mine (GGM, TSX-V) announced in a post-market news release yesterday that it’s making quick progress with DRA Americas Inc., a subsidiary of DRA Global, a leading international and vertically integrated engineering firm, toward a plan to put the Granada Gold mine in northwest Quebec into production on a ramped up scale that would incorporate a planned 12,000 tonne-per-day pre-concentration ore sorting facility…meanwhile, GGM says it’ll soon be releasing an updated resource estimate for the Granada LONG Bars Zone (early in Q2)…this would replace the maiden NI-43101 resource from late 2012 (1.6 million ounces M&I, 1 million ounces Inferred) and supersede the 2014 Pre-Feasibility Study for Granada…since then, additional drilling – including this quarter – has confirmed a new high-grade discovery at depth north of the existing resource while a new near-surface discovery has been made on the western side of the property…geologists have also uncovered data on several hundred historical holes that were not included in the original estimate…GGM is up a penny-and-half at 7 cents in early trading, meaning it has a market cap of only $27 million for a potential multi-million ounce Gold resource with a mining permit on the prolific Cadillac Trend…only about 20% of the LONG Bars Zone 5.5 km strike length has been actively explored and drilled (approx. 100,000 m)…

5. EnGold Mines (EGM, TSX-V) appears to have “hit” on 2 step-out holes, 50 m to the east and 50 m to the west of discovery hole G1601 at its Lac La Hache Property in the B.C. Cariboo that returned a strongly mineralized section highlighted by 1.76% Cu over 26.6 m…as reported by the company yesterday, 2 drills exploring this Cu-Au-Ag discovery have both intersected broad intervals of intensely mineralized material that is visually similar to hole G1601…holes G1703 and G17-04 intersected 24 m and 13 m, respectively, at the same stratigraphic levels as the discovery hole at approximately 335 m downhole…the holes are vertical and intercepts are believed to be true width…the mineralized core will be logged and assayed on a rush basis…both drill holes will continue to their target depth of approximately 450 m…EGM is off slightly at 40 cents through the first 30 minutes of trading…

6. Kirkland Lake Gold (KL, TSX) is up 38 cents at $9.83 as of 7:00 am Pacific after reporting very positive 2016 financial results this morning highlighted by consolidated record revenue of $407 million (U.S.) and net earnings for the full year of $42.1 million (U.S.) or 35 cents U.S. per basic share (46 cents CDN per basic share)…increasing grade profile and improved recoveries continue to drive record production at the flagship Macassa and Fosterville Mines…KL, with a cash balance of $235 million (U.S.), has also announced it’s introducing a quarterly dividend of 1 cent CDN per common share…

7. Meet Tweed Main Street: A New Standard In Cannabis Variety”Canopy Growth (WEED, TSX) announced this morning that Canadian medical cannabis users are about to have a better way to shop for their medicine…starting in early April, Tweed’s ‘s new on-line store, Tweed Main Street, will be the go-to place for the over 50,000 Canadians who are registered with Canopy Growth’s Tweed Inc., Bedrocan Canada Inc. and Mettrum Health Corp., 3 of Canada’s most established cannabis brands…

The 3 most popular recent BMR articles…

BMR Morning Market Musings:  Gold Is Showing That It May Soon Take Many Traders By Surprise

Update:  Who’s Who In The Northern Ontario Cobalt Camp

“Optionality” – A Strategy That Works:  Get Gold Exposure For Only $8 Per Ounce!

5 Comments

  1. johnz, go to youtube, type in john kaiser, scroll down to Feb 3.

    Comment by dave — March 29, 2017 @ 8:55 am

  2. Sure would be nice to get a NR from Garibaldi this week. It’s been awfully quiet.

    Comment by pole — March 29, 2017 @ 10:41 am

  3. Great move by NPA today, we were anticipating a breakout on this one…

    A US STATE AND A CANADIAN PROVINCE CHOOSE SMARTGUIDE FOR THEIR CONSTITUENT-CENTRIC SERVICE DELIVERY

    A U.S. state and a Canadian province have selected Alphinat Inc.’s SmartGuide in their effort to modernize their digital government service delivery to their constituents. SmartGuide changes existing methods of creating Web and mobile applications, minimizing time-consuming custom programming while promoting reuse of existing applications and systems.

    The complete separation of concerns afforded by SmartGuide allows the information technology (IT) department to focus on the infrastructure, technical conventions, connections to existing systems and security while business subject matter experts expand on that foundation to convert their knowledge and know-how into citizen-centric on-line services.

    “The decision driver is always total cost of ownership and quality of service,” said Philippe Lecoq, Alphinat chief executive officer, explaining why all levels of government trust SmartGuide.

    About Alphinat Inc.

    Alphinat is the creator of SmartGuide, a next-generation application development and deployment productivity tool set providing agility to leverage existing IT assets and lower costs for a one-stop delivery tool of Web and mobile enterprise applications from disparate back-end systems.

    We seek Safe Harbor.

    Comment by Jon - BMR — March 29, 2017 @ 2:09 pm

  4. I don’t even remember you mentioning NPA let alone expecting a breakout.

    Comment by dave — March 29, 2017 @ 2:45 pm

  5. Upgrade your membership, Dave!…March 19 Sunday Sizzler urged accumulation between 8 and 9, and just previous to that…”A 400% jump in 1 week, a healthy pullback, and now time to accumulate again”…

    They just got a U.S. state and a Canadian province on board with their SmartGuide system…they’re definitely building momentum on contracts at state, provincial and federal levels…

    Comment by Jon - BMR — March 29, 2017 @ 3:51 pm

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