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7 @ 7:00 - BullMarketRun.com

April 13, 2017

7 @ 7:00

Check out the BMR comments section throughout the day and for possibility of an additional post.

1. Gold has traded between $1,282 and $1,289 so far today…as of 7:00 am Pacific, bullion has retreated $3 an ounce to $1,283 after another strong session yesterday (confirming a breakout) while Silver has slipped 4 cents to $18.42Gold got some help from President Trump yesterday when he again talked down the dollar in an interview with the Wall Street Journal, though the Dollar Index has recovered nearly half a point this morning…meanwhile, tensions remain high over Syria, Russia and North Korea entering the Easter long weekend…North Korean monitoring service 38 North, a U.S. research institute, said yesterday that North Korea’s Punggye-ri nuclear site is “primed and ready” for a 6th nuclear test despite sabre settling from Washington…38 North’s prediction comes as Japanese Prime Minister Shinzo Abe said today that North Korea may have the capability to deliver missiles equipped with sarin nerve gas…one wonders, with North Korea having advanced its nuclear program and Assad hauling out his chemical weapons, who was on watch in Washington the last 8 years?…

2. The Venture is up 1 point at 831 through the first 30 minutes of trading as it aims for its 3rd straight weekly advance…the Venture’s climb from a low last month of 788 has been mostly a daily grind with investors looking for reasons to get more aggressive…however, the chart pattern remains convincingly bullish and suggests a looming challenge of key resistance around 850…the TSX and Dow are both down slightly in early trading…

3.  EnGold Mines (EGM, TSX-V) announced this morning that it has closed a non-brokered private placement of 4 million flow-through units at 50 cents per unit for gross proceeds of $2 million…the company resumes drilling at its Lac La Hache Copper-Gold-Silver discovery next week…EGM is up a penny at 58 cents as of 7:00 am Pacific

4. RJK Explorations (RJX.A, TSX-V) has closed the first tranche of a financing, raising gross proceeds of just under $300,00o (1.6 million non-flow-through units @ 18 cents per unit)…with less than 20 million shares outstanding and a current market cap of only $2.7 million, RJK is a situation to watch closely as the company prepares to resume drilling at its 100%-owned Maude Lake Gold Property located on the Pipestone fault within the Timmins-Matheson Gold corridor…a first phase of drilling returned multiple near-surface high-grade intercepts including 14 m @ 5.37 g/t Au…the property contains an historic high-grade resource and holds exciting potential at depth below 300 m where historic results returned such intersections as 19.5 g/t Au over 8 m at the 375-m level and 12.3 g/t Au over 2.5 m at the 475-m level…RJX.A is unchanged at 16 cents in early trading…

5. Richmont Mines (RIC, TSX) has reported Q1 company-wide production of 29,401 ounces of Gold, at cash costs of $791 CND ($598 U.S.) per ounce, almost exactly matching Q4 numbers but down about 10% from the same period a year ago…the Q1 performance was supported by another consecutive quarter of solid production from the Island Gold Mine of 23,772 ounces of Gold at cash costs of $668 CDN ($504 U.S.) per ounce, a 19% decrease over the prior quarter…overall, Richmont says it’s on track to achieve annual production and cash cost guidance for the year…Q1 exploration highlights included the identification of new high-grade mineralization located approximately 800 m east of the main Island Gold deposit…hole GD-64005 intersected 20.6 g/t Au over 11.3 metres (core length), demonstrating the significant potential for near-term and continued resource growth…Richmont will release Q1 financial results May 4 while the expansion case PEA results are expected by the end of this quarter…

6. Belo Sun Mining (BSX, TSX) has recovered a few pennies in early trading after nearly $50 million was shaved off its market cap yesterday when a Brazilian court suspended a construction license for the company’s Volta Grande Project…construction of the project is to remain suspended until an indigenous study has been approved by Funai (Indigenous Affairs Agency of Brazil), Belo Sun said in a statement, citing the court order…Volta Grande project is estimated to become Brazil’s largest Gold mine…BSX fell 9 cents yesterday to close at 74 cents…

7. Aphria (APH, TSX) announced this morning that has posted its 5th consecutive quarter of profitability with further growth in its production capacity.  “With five consecutive quarters of profitability and further growth in our production capacity, Aphria continued to build strong, positive momentum in the third quarter,” said Vic Neufeld, Aphria CEO.  “Despite unusual weather conditions that temporarily added to our growing costs for the quarter, we continue to report costs per gram that are among the lowest in the industry. At the same time, we are making strategic investments that will increase our supply of high-quality cannabis and position Aphria to drive further growth in our medical-grade cannabis business, meet future demand for recreational cannabis, and drive strong, sustainable shareholder value creation.” Aphria’s revenue for the 3 months ended February 28, 2017 was $5.1 million, representing a 2% decrease over the prior quarter’s revenue of $5.2 million… the decrease was consistent with expectations and was primarily a result of the $8.50 per gram cap placed on the price of medical cannabis for veterans…the impact of the price cap on revenue was offset by increased revenue per gram for non-veterans, primarly a result of selling less wholesale product and the continued growth of the company’s cannabis oils…

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32 Comments

  1. Hi Jon,

    have you track the potential depletion of secutor’s GGM shares holding with the past weeks of trading? Do you think it will dry out at some point? Is it what restrain the share price now? Big block at $0.07, don’t move that much.

    Thanks for your insight.

    Richard

    Comment by rgiroux — April 13, 2017 @ 8:25 am

  2. Hi rgiroux, yes for sure, watching that closely as it’s the only thing in the way of GGM erupting higher…Secutor’s share count has dwindled significantly the last couple of weeks and they will be out of paper rather soon…if you understand how these guys operate, you can make a lot of money in the market by coming in near the end of their supply…this situation is particularly attractive given anticipated developments with GGM…take the supply while it’s there because it’s not going to last much longer…

    Comment by Jon - BMR — April 13, 2017 @ 8:53 am

  3. thanks Jon. Yes, I’ve been backing up the truck on GGM lately, and still do.

    Comment by rgiroux — April 13, 2017 @ 9:26 am

  4. Mother of all Bombs just dropped on ISIS in Afghanistan…

    The US military has dropped an enormous bomb in Afghanistan according to four US military officials with direct knowledge of the mission.

    A GBU-43/B Massive Ordnance Air Blast Bomb — nicknamed the “Mother of All Bombs” (MOAB) — was dropped in at 7 p.m. local time Thursday, sources said.

    This is the first time a MOAB has been used in the battlefield, according to the US officials.

    Military sources said the target was ISIS tunnels and personnel in the Achin district of the Nangarhar province. The military is currently assessing the damage.

    This munition was developed during the Iraq War but was never used in the battlefield

    Comment by Jon - BMR — April 13, 2017 @ 9:58 am

  5. Just released GGI pr confirms that the EM survey will be in the last half of April. You are correct, Sir.

    Comment by Marshall — April 13, 2017 @ 10:42 am

  6. GGI news

    GARIBALDI SECURES E&L CAMP, READY TO FLY SURVEY KEY CLAIMS ACQUIRED ON STRIKE FROM ENGOLD DISCOVERY

    Garibaldi Resources Corp. has provided an update on its exploration activities in British Columbia, anchored by the advancement of its flagship E&L project in the prolific Eskay camp in the heart of the Golden Triangle.

    Highlights of recent and current activity:

    Garibaldi continues final preparation to launch a heliborne electromagnetic survey ahead of diamond drilling at the E&L. The location for a 12-man camp has been secured along the Eskay Creek road, and crews are ready to mobilize as soon as weather permits.
    Garibaldi has acquired nearly 18 square kilometres of strategic claims contiguous to Engold Mines’ Lac La Hache property, including along strike to the southeast of Engold’s new drilling discovery.
    Garibaldi adds claims to Tora Tora following two initial exploratory drill holes.

    E&L project — Nickel Mountain

    The upcoming heliborne electromagnetic survey at the E&L, planned for the last half of April, will focus on detecting conductive sulphide bodies and identifying potential new target anomalies indicated within the four-kilometre-long, 1.5-kilometre-wide E&L intrusion that hosts the Eskay Camp’s first and only known nickel-copper-rich massive sulphide system with platinum, palladium, gold and cobalt.

    In addition, airborne geophysics will also be carried out over the promising Brass Hill area approximately 2.7 kilometres northeast of the E&L deposit, where sampling by Garibaldi late last summer returned exceptionally high zinc values as well as highly anomalous gold and copper (see news release dated Oct. 28, 2016).

    Geological, geophysical and structural data for the E&L deposit have been reviewed and interpreted by the company’s expanded nickel team (see news release dated March 10, 2017).

    The results have revealed very high tenors and prospective geophysical anomalies indicating possible complex structures permissive for deposition and entrapment of massive sulphides in areas well beyond the current deposit. Various views of the E&L geologic model along with a table comparing tenor for known nickel deposits are available on Garibaldi’s website.

    Lac La Hache acquisition — Cariboo copper-gold claims

    Garibaldi has acquired two parcels of claims (Cariboo copper-gold claims) comprising 1,753 hectares bordering Engold’s new copper-gold-silver discovery 20 kilometres northeast of Lac La Hache.

    The underlying prospective rock units and contact zones relating to mineralization at Engold’s Lac La Hache property trend northwest-southeast onto Garibaldi’s southern block of claims.

    Terms for a 100-per-cent interest are: 200,000 Garibaldi shares within 10 days from Toronto Stock Exchange acceptance for filing, $10,000 in cash or Garibaldi shares within 45 days from TSX acceptance for filing, and a further 500,000 Garibaldi shares over two years. The vendor retains a 2-per-cent net smelter return royalty, of which Garibaldi can purchase half of at any time for $1.5-million.

    Tora Tora property

    In January, Garibaldi completed two widely spaced diamond drill holes at the Tora Tora copper-gold prospect 15 miles (25 kilometres) north of the Copper Mountain mine near Princeton, B.C. This promising grassroots property, contiguous to a large land package owned by privately held High Power Exploration, has featured only limited historical drilling.

    Each of the first two test holes intersected propylitic alteration throughout, associated with the outer distal zonation of copper porphyries. The bottom of the second hole, drilled to a depth of 190.5 metres, returned anomalous copper mineralization in a pyrite-dominated sulphide assemblage with minor chalcopyrite occurring in quartz-carbonate veins, blebs and fine-grained disseminations. Garibaldi geologists were encouraged by the extensive new information acquired from this exploratory drilling, which will provide important guidance for the next phase of drilling. The company has staked an additional three claims attached to the northeast corner of the property.

    Qualified person

    John Buckle, PGeo, PGeoph, a qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this news release.

    We seek Safe Harbor.

    Comment by dave — April 13, 2017 @ 10:47 am

  7. GGI
    Especially like this part of NR on the E&L
    The results have revealed very high tenors and prospective geophysical anomalies indicating possible complex structures permissive for deposition and entrapment of massive sulphides in areas well beyond the current deposit.
    Well beyond!!

    Comment by Greg — April 13, 2017 @ 11:11 am

  8. Good, should start gathering steam next week, nice grab close to egm, tora tora will help along nicely.

    Comment by Laddy — April 13, 2017 @ 11:16 am

  9. GGI. Great and dets on some of the older stuff. Fidelity stepping in to the mkt as well, things looking up!

    Comment by david — April 13, 2017 @ 11:26 am

  10. The E&L of course is the key, but wow…check out this map——-claims right on strike next to EGM on the northwest-southeast mineralized trend…Regoci surprised even me on this one…

    http://www.garibaldiresources.com/i/maps/GGI_Cariboo-copper-and-gold-LocationMap3.jpg

    Comment by Jon - BMR — April 13, 2017 @ 11:33 am

  11. One thing is foresure, regoci hasn’t been sitting around in his office with his thumb up you know where.(skeptics).. I think he’s on a mission..

    Comment by Laddy — April 13, 2017 @ 11:42 am

  12. Jon/Daniel

    how many companies out there that have all of the potential projects that GGI has and are under a 15m market cap?.

    I really don’t know what to think about Regoci anymore… he is either one of the smartest CEO’s out there or he has ADD,lol
    looking forward to this summer either way, hopefully GGI will finally pay off.

    Comment by greg — April 13, 2017 @ 12:13 pm

  13. With EGM planning to conitinue their drilling program shortly, it seems like Regoci is determined to be where the potential is. He’s a property ninja. I think there is a lot of upward potential here, provided the E&L remains the focal point.

    Charles

    Comment by Charles — April 13, 2017 @ 12:16 pm

  14. Nice move to the upside coming next week for GGI after this news late today, Laddy…speculation is sure to ramp up.

    Comment by Jon - BMR — April 13, 2017 @ 12:18 pm

  15. Great NR from GGI. Hopefully this will quiet the Regoci “bashers”. He’s doing an excellent job right now.

    Comment by pole — April 13, 2017 @ 12:44 pm

  16. Well, i think it should,Jon. Property ninja, that’s a good one charles, he’s accumulated enough properties to make a small country, ha. Now he just needs to start poking a bunch of holes in them. Have a safe Easter folks.

    Comment by Laddy — April 13, 2017 @ 1:29 pm

  17. JOn – what do you make of the trading in BLO today.??? hi of 97 to a close of 83 down 1… doesnt seem like that is normal trading as such… thx mate

    Comment by Jeremy — April 13, 2017 @ 1:47 pm

  18. Very normal, Jeremy, in the sense that what you saw today in BLO was strong accumulation to the resistance, and then a backing off…I don’t think it’ll be long before we see a sustained move thru that resistance.

    Comment by Jon - BMR — April 13, 2017 @ 2:18 pm

  19. CSR
    Awesome close at 0.295, new high I believe!! Is the Venture open tomorrow? US markets closed for Good Friday…

    Comment by GREGH — April 13, 2017 @ 2:23 pm

  20. Thx mate… days like this are a bit scary since one wonders why it was bid up only to be taken out at the knees.. tricks being played in other words..
    appreciate it mate

    Comment by Jeremy — April 13, 2017 @ 2:54 pm

  21. No Greg.. cdn.markets are closed Friday.

    Comment by GregJ. — April 13, 2017 @ 10:05 pm

  22. Yes, markets closed today but check us out during the day as we will have a couple of posts today as well as tomorrow.

    Comment by Jon - BMR — April 14, 2017 @ 6:43 am

  23. Will you be doing a Sunday sizzler this weekend Jon?

    Comment by weatheritout — April 14, 2017 @ 6:51 am

  24. Weatheriout, I was planning on not doing a Sunday Sizzler this weekend due to Easter, and our team could use the break, but given the events of this past week I’m going to do a shortened version for Sunday.

    Comment by Jon - BMR — April 14, 2017 @ 2:54 pm

  25. Jon, it’s Easter weekend and you give guys have been working hard. Take a break!!

    Comment by Danny — April 14, 2017 @ 4:00 pm

  26. Jon

    I’m sure no one would be upset if you didn’t post on Easter Sunday take the time off you guys deserve it. Reflect on what is really important in all our lives and the hope we have when this life here on earth ends
    Happy Easter!!

    Comment by Greg — April 14, 2017 @ 5:16 pm

  27. HAPPY EASTER JON,JOHN & DANIEL! I agree take a well deserved break!

    Comment by Ciara — April 15, 2017 @ 7:04 am

  28. Happy Easter everybody. May all CEO bashers of Regotti and GGI eat crow.

    Comment by dave — April 15, 2017 @ 8:36 am

  29. dave.. I assume you are likely referring to myself and a few others as bashers of Regocci. I make no apologies for my comments, he has been lax to say the least in providing updates (ie. what is going on in Mexico) in some areas. He has also done a great job in acquiring property and keeping share dilution to a minimum. I continue to own it because of the E&L deposit. I always try and look at both sides of the coin and then make a rational decision.

    I am still going to eat turkey tomorrow. Wishing yourself and everyone else a Happy Easter!!

    Comment by Danny — April 15, 2017 @ 9:38 am

  30. Dave
    I’ve been waiting for 5 years to eat that crow!
    Hoping this is the year, lol
    Happy Easter to you!

    Comment by Greg — April 15, 2017 @ 10:37 am

  31. Happy Easter! Hope everyone has a safe and enjoyable holiday!

    Comment by Charles — April 15, 2017 @ 1:14 pm

  32. GGI. Yupp. A # of us are long time holders Dave, because we think there is something there. But extracting info out of Regocci is challenging. If he didn’t have properties with potential, he be in a different place. But I’ve held all along this past year at least. You?

    Comment by david — April 16, 2017 @ 4:59 pm

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