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June 7, 2017

BMR Morning Market Musings From Cobalt, Ontario…

Gold has traded between $1,286 and $1,295 so far today…as of 11:00 am Pacific, bullion is off $6 an ounce at $1,288…any dips will be met with strong buying support due to technical momentum and geopolitical concerns…Silver is off 11 cents at $17.57…Copper is flat at $2.55…Nickel has slipped 2 pennies to $3.97…Crude Oil is getting hit hard, down more than $2 a barrel to $45.91 thanks to an unexpected rise in U.S. inventories…the Dollar Index is unchanged at 96.61

An even weaker U.S. dollar during the 2nd half of the year could be one of the key triggers that confirms a bullish prediction by metals’ analyst Mike McGlone of Bloomberg Intelligence, based on unusually low volatility readings at the moment…

“With 60-day index volatility at 10% – the lowest since the 10-year bottom in 2014 at 9% – the stage could be set for the next breakout move in metals,” noted McGlone, Bloomberg Intelligence commodity analyst, in a report yesterday…

“A ho-hum May is pressuring volatility on the Bloomberg All Metals subindex to its lowest level in 3 years, just prior to the big dollar rally and metals collapse in 2014. Metals peaked as the dollar bottomed in 2011. They appear poised to continue to retrace that selloff, notably if the dollar has peaked.”

Yes, the greenback has peaked as we’ve shown in multiple charts though stubborn dollar bulls have not yet thrown in the towel – they will later this year in what is going to be one of 2017‘s Big Investment Themes…

Gold, stocks and bonds have all moved higher the last 3 months…using hedge fund quant tool Kensho, CNBC found 15 occasions during the last 20 years when stocks, bonds and Gold all advanced in a similar fashion over 3-month periods…during the next 3 months, the S&P 500 posted an average increase of 3%, moving into positive territory on 73% of the occasions, while Gold kept moving higher, too…bonds, however, declined, causing yields to back up slightly…

Seabridge Plunges Into Nevada “Snowstorm”

Interesting news from Seabridge Gold (SEA, TSX) this morning as the company has completed the acquisition of a 100% interest in the Snowstorm Project from PFR Gold Holdings LP (PFR)…Snowstorm consists of 31 sq. miles of landholdings strategically located at the projected intersection of 3 of the most important Gold trends in northern Nevada: Carlin trend, Getchell trend and Northern Nevada rift zone…

Seabridge completed the acquisition by purchasing all of the outstanding shares of the private company that owns a 100% interest in the Snowstorm Project in exchange for issuing PFR 700,000 Seabridge common shares ($~10 million) plus 500,000 common share purchase warrants exercisable for 4 years at $15.65 per share…in addition, Seabridge has agreed to pay PFR (i) a conditional cash payment of $2.5 million (U.S.) if exploration activities at Snowstorm result in defining a minimum of 5 million ounces of Gold resources compliant with National Instrument 43101; and (ii) a further cash payment of $5 million (U.S.) on the delineation of an additional 5 million ounces of Gold resources…

Snowstorm consists of 700 mining claims and 5,800 acres of fee lands carefully assembled in a private company over a 15-year period and explored over the past decade…Seabridge has staked an additional 260 claims totalling 5,200 acres that are contiguous to the claims purchased from PFR

Rudi Fronk, Seabridge Chairman and CEO, stated:  “For some time now, we have been looking for a large-scale asset in Nevada which remains one of the world’s best environments for finding large Gold deposits. The Snowstorm acquisition accomplishes this objective. This project has all the earmarks of an outstanding exploration play and we appreciate the opportunity to capitalize on its exceptional potential.”

Confidence In U.S. Economy Continues To Improve

U.S. corporate executives’ confidence has hit a 3-year high according to a just-released survey…the latest Business Roundtable CEO Economic Outlook Index has hit its highest level since the 2nd quarter of 2014 as belief grows that the pro-growth policies of the Trump administration will yield long-term benefits…that came even though the executives see GDP growth of just 2% in 2017, down from the 2.2% pace in March.  “The survey results reflect confidence from America’s leading employers in the prospects for tax reform, as well as the tangible economic benefits that tax reform will produce,” said Business Roundtable Chairman Jamie Dimon in a statement.  “CEOs are also responding to the administration’s commitment to creating a more favorable regulatory environment, protecting the safety and health of our citizens while also protecting jobs,” added Dimon, CEO of JPMorgan Chase, the largest bank by assets in the U.S.

The discombobulated Clinton News Network, meanwhile, still very bitter over its stunning election loss last November, pays scant attention to the economy, the stock market, radical Islamic terrorism and agenda-driven illegal leaks within the government bureaucracy while it continues to focus on peddling a false narrative around Russia, the election and the Trump administration as if the average American worker in Ohio, Pennsylvania, Wisconsin or Florida really cares…it’s just simply bizarre how these new liberal McCarthyites are exploring every imaginable “tie” to Russia (except the Clintons’ ties, of course)…

Venture Seasonality Chart

At first glance, this may not appear to be a positive chart as the Venture going back nearly 20 years shows a negative return in every month from April through November with June being the worst of all – an average decline of 1.9%…gains have occurred in June only one-third of the time…

When broken down into bull market and bear market years, however, the June to September period features some spectacular gains…keep in mind, also, that the chance of positive returns during August, September and October doubles from May and June…

Cobalt (And Silver) Country – Northern Ontario

One of the most remarkable individuals in Cobalt, Ontario, is lifelong resident Gino Chitaroni, President of PolyMet Labs who’s truly the “Cobalt King” – he knows everything about the Greater Cobalt Camp and of course is also extremely knowledgeable about the metal itself…

He’ll be sharing his fascinating insights with BMR readers in the coming days as our coverage of this district continues…

Gino Chitaroni predicts a move in Cobalt to least the $40 level.

In today’s Morning Musings…

1. Two low market cap Gold juniors that must be on your radar screen!…

2. Jaxon Minerals (JAX, TSX-V) starts ground program at Hazelton Property…

3. The coming surge in the TSX Gold Index…

4. Daniel’s Den  Southwest Newfoundland update (3 stocks)…

Did you know that for as little as just over $2 a day, you can be a BMR subscriber and tap into the best analysis and picks for the junior resource sector that you’ll find anywhere?  Last year’s BMR Top 50 List returned a whopping 118% and we are delivering market-trouncing returns again in 2017BMR was the first to call the new bull market in the Venture in early 2016, and our coverage of the commodities space gives you valuable daily insights into price movements and critical trends.  BMR is daily information that puts you ahead of the crowd!

We also give first-time subscribers an industry-leading 100% money-back satisfaction guarantee.  If you don’t believe BMR has helped you make money for your first 6-month subscription period, we’ll refund your subscription fee in full – no questions asked!

Did you know that for as little as just over $2 a day, you can be a BMR subscriber and tap into the best analysis and picks for the junior resource sector that you’ll find anywhere?  Last year’s BMR Top 50 List returned a whopping 118% and we are delivering market-trouncing returns again in 2017BMR was the first to call the new bull market in the Venture in early 2016, and our coverage of the commodities space gives you valuable daily insights into price movements and critical trends.  BMR is daily information that puts you ahead of the crowd!

We also give first-time subscribers an industry-leading 100% money-back satisfaction guarantee.  If you don’t believe BMR has helped you make money for your first 6-month subscription period, we’ll refund your subscription fee in full – no questions asked!

To read the rest of today’s Morning Musings, sign up NOW or login as a current subscriber with your username and password.

June 5, 2017

BMR Morning Market Musings From Cobalt, Ontario…

Gold has traded within a narrow range between $1,278 and $1,284 so far today…as of 11:00 am Pacific, bullion is up $2 an ounce at $1,280 as technical momentum and geopolitical concerns are keeping bids firm…Silver is up slightly at $17.55…Copper is flat at $2.55…Nickel has retreated 2 pennies to $4.00…Crude Oil is 30 cents lower at $47.35 a barrel while the U.S. Dollar Index is relatively unchanged at 96.77

In the wake of yet another terrorist attack in her country, one that also killed a Canadian, British Prime Minister Theresa May validated President Trump’s deep concerns regarding radical Islamist terrorism when she claimed over the weekend that there’s “too much tolerance” of Islamist extremism in the UK…with just days before British voters go to the polls, May has vowed a clampdown on radical Islam:  “We cannot and must not pretend that things can continue as they are.  Enough is enough,” she declared…

Momentum is building in the Gold market as hedge funds and money managers continue to add to their bullish positioning, driving the price closer to the key technical and psychological $1,300 level…net longs increased for the 2nd consecutive week, but what’s even more significant is that Gold positioning is still hovering around its 5-year average…that means there’s plenty of upside over the summer and through the balance of 2017…meanwhile, there’s been a “Death Cross” in the U.S. Dollar Index with the plunging 50-day moving average (SMA) falling below the 200-day…within a month or two at the latest, the 200-day should reverse to the downside and that will usher in a wave of new selling in the greenback and fresh 2017 lows…

Sean Roosen’s Osisko Gold Royalties (OSK, TSX) continues its buying rampage – OSK has entered into a definitive agreement with Orion Mine Finance Group to acquire a high-quality precious metals portfolio of assets consisting of 74 royalties, streams and precious metal offtakes for total consideration of $1.12 million, creating a growth-oriented, world-class and Gold-focused royalty and streaming company…the combination of Osisko and Orion’s portfolios will result in the company holding a total of 131 royalties and streams, including 16 revenue-generating assets…the company’s cornerstone asset remains the 5% net smelter return royalty on the world-class and long-life Canadian Malartic Gold mine (Canada’s largest producing Gold mine) and its 2% to 3.5% NSR royalty on the world-class Eleonore Gold mine…through the transaction, the company gains a 9.6% diamond stream on the Renard diamond mine and a 4Gold and Silver stream on the Brucejack mine in the Eskay Heart of Gold Camp, in addition to a 100% Silver stream on the substantial Mantos Blancos Copper mine in Chile…

Given his familiarity with Quebec and the Cadillac Trend, we’re wondering when Roosen might turn his attention to Granada Gold (GGM, TSX-V) and its multi-million ounce Granada deposit which is permitted for open-pit production in the LONG Bars Zone and is showing exceptional high-grade promise at depth to the north (1.5 million Inferred ounces comprising 10.4 million tonnes averaging 4.6 g/t Au at a cut-off grade of 1.5 g/t Au)…

Gold in Canadian Dollars Above $1,725

Gold in Canadian dollars remains in a powerful new uptrend that started late last year after a 17% correction…over the last several years, the metal in loonie terms has gradually recorded higher highs within an ongoing bull market and the next obvious target is measured Fib. resistance at $1,880, about $150 or nearly 9% above current levels and within shouting distance of an all-time high…

Keep this raging Gold bull market in Canadian dollars in mind as you scan the landscape of Canadian-based Gold juniors and producers…

Cobalt (And Silver) Country – Northern Ontario

It’s truly amazing that the Klondike Gold Rush has been so thoroughly embedded in Canada’s historical conscious yet the Cobalt Silver Boom of the 1900’s – in many ways so much bigger than the Klondike Gold Rush – is largely unknown…

By all accounts, the Greater Cobalt area between 1903 and 1966 officially produced at least half a billion ounces of Silver (that’s just what was documented, local experts we’ve spoken to believe the unofficial figure is closer to 750 million ounces), making it one of the world’s Top Silver producing regions during that time…this prolific district was the birthplace of Canadian hard rock mining…

The impact of the Cobalt region’s amazing Silver discoveries – over 100 mines were in operation at one point – was profound and widespread…

Understanding the basics of the dramatic history of the Cobalt Camp is critical because that provides answers for what’s happening today and how the future may unfold, creating enormous wealth-building opportunities for investors…ironically, the metal for which the town of Cobalt was named wasn’t the metal that drove the incredible build-up of wealth during the first half of the 1900’s but it is the reason for the district’s current revival…there were issues in the 1900’s with recovering both the Cobalt and Silver from the ores of this region, so miners and prospectors made what was an easy decision to focus on the exceptionally high-grade Silver…this meant that much Cobalt was left behind, and in grades that are generally among the very best in the world (within narrow veins that can pinch and swell for hundreds of feet)…

Today, of course, technological advances have created hot new demand for Cobalt, and global supply is rather tenuous…the bottom line is that the world needs more Cobalt, and many believe that the best place to find it and mine it is in northern Ontario given the region’s advantages in terms of grades, potential supply, infrastructure and historic activity…investors who grasp what’s happening could make fortunes as the Cobalt Rush intensifies over the next year…

Castle Silver Resources (CSR, TSX-V) – The Cobalt Kings?

Here’s another irony – the company that doesn’t even have Cobalt in its name is actually the most advanced in terms of potential Cobalt mining and recovery in northern Ontario…

Castle Silver Resources (CSR, TSX-V) is the first Cobalt player with underground access in this district, and it also has its own proprietary recovery process that could revolutionize the region…

CSR quietly but effectively developed its Cobalt and Silver assets in this Camp well ahead of when it began trading publicly in 2015, and before many others were even thinking about this district…significantly, CSR has 100% ownership of Re-2OX, a proprietary hydrometallurgical process, developed in conjunction with the National Research Council, that will convert material sourced from the Castle mine into high purity, client-specific Cobalt powders for near-term battery sector end user evaluation…

BMR has made it underground into CSR’s Castle main adit, the first of the mine’s 11 levels, where mineralized material is now being extracted…we’ll have several video excerpts in the days ahead – click on the arrow to view today’s 1-minute piece…

In today’s Morning Musings…

1. A junior with a high-grade Gold deposit cut-off grade of 25 g/t Au!…

2. Two Gold producers attractively priced and ready for a strong summer…

3. A stunning 2nd half of 2017 for Silver?…

4. Daniel’s Den  Precipitate Gold (PRG, TSX-V) news, plus the “Foxconn Insider” with “secrets” about Apple

Did you know that for as little as just over $2 a day, you can be a BMR subscriber and tap into the best analysis and picks for the junior resource sector that you’ll find anywhere?  Last year’s BMR Top 50 List returned a whopping 118% and we are delivering market-trouncing returns again in 2017BMR was the first to call the new bull market in the Venture in early 2016, and our coverage of the commodities space gives you valuable daily insights into price movements and critical trends.  BMR is daily information that puts you ahead of the crowd!

We also give first-time subscribers an industry-leading 100% money-back satisfaction guarantee.  If you don’t believe BMR has helped you make money for your first 6-month subscription period, we’ll refund your subscription fee in full – no questions asked!

Did you know that for as little as just over $2 a day, you can be a BMR subscriber and tap into the best analysis and picks for the junior resource sector that you’ll find anywhere?  Last year’s BMR Top 50 List returned a whopping 118% and we are delivering market-trouncing returns again in 2017BMR was the first to call the new bull market in the Venture in early 2016, and our coverage of the commodities space gives you valuable daily insights into price movements and critical trends.  BMR is daily information that puts you ahead of the crowd!

We also give first-time subscribers an industry-leading 100% money-back satisfaction guarantee.  If you don’t believe BMR has helped you make money for your first 6-month subscription period, we’ll refund your subscription fee in full – no questions asked!

To read the rest of today’s Morning Musings, sign up NOW or login as a current subscriber with your username and password.

May 28, 2017

Sunday Sizzler Report

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May 21, 2017

Sunday Sizzler Report

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May 14, 2017

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May 3, 2017

BMR Morning Market Musings…

Gold has traded between $1,245 and $1,257 so far today…as of 9:30 am Pacific, the yellow metal is down $8 an ounce at $1,249…chart support exists at $1,250 while the $1,230’s features strong Fib. support and that’s a logical area for bullion to test…Silver has slipped another 27 cents to $16.54…Copper has tumbled 9 cents to $2.51…Nickel is 12 cents lower at $4.17…Crude Oil off slightly at $47.59 while the U.S. Dollar Index has climbed one-fifth of a point to 99.07

Markets are bracing for a monetary policy announcement from the Federal Reserve…the U.S. central bank is scheduled to release its latest policy decision at 11:00 am Pacific (2:00 pm EST) but most investors aren’t expecting higher interest rates today (CME Group’s FedWatch tool puts those odds at just 4.8%)…however, odds increase dramatically for a rate hike next month when the meeting will also include updated economic projections and a Ma Yellen news conference…

In French elections, the Presidential rivals go head-to-head tonight in a televised debate in the last encounter before Sunday’s run-off in which opinion polls predict a win by centrist Emmanuel Macron over Marine Le Pen…one always has to be skeptical regarding polls, but the polls for the first round of the French elections were accurate and current numbers give Macron a commanding lead with just days to go…it would be a monumental upset for Le Pen to win – she’d have to deliver a huge knockout blow in tonight’s debate…the left is too engrained in France and given a choice between Macron and La Pen, most of the “snowflakes” in that country are sure to embrace Macron who is also Obama’s preferred candidate (need we say more)…

Gold Trading Expands

The Dubai Gold and Commodities Exchange (DGCX) says the recently listed DGCX Shanghai Gold Futures Contract (DSGC) had an impressive “knock-on effect” on other Gold products in April…

“The DSGC, which uniquely allows access to the Chinese Gold market, traded a total of 2,946 contracts since its listing on March 10th. DGCX’s Spot Gold contract saw impressive 6-fold growth year-on-year, while also recording a 74% increase in deliveries through the DMCC Tradeflow platform,” DGCX said on Monday…the deal to list the Shanghai Gold Futures Contract was made in October 2016 between the DGCX and the Shanghai Gold Exchange (SGE)…the agreement allowed for “the first-ever usage of the Shanghai Gold Benchmark Price in international markets,” said the CEO of the DGCX, Gaurang Desai…

Oil Update

U.S. government data released by the Energy Information Administration (EIA) this morning showed a smaller-than-expected fall in the country’s Crude stockpiles as refinery activity slowed down from the previous week…Crude inventories fell by 930,000 barrels in the week to April 28, compared with analysts’ consensus estimate of a decrease of 2.3 million barrels…data from the American Petroleum Institute (API) released yesterday had indicated that the closely watched inventories had fallen last week by 4.2 million barrels…on a more bullish note, refined fuel stockpile levels were better than anticipated and that’s bringing in some price support for WTI today…

In Today’s Morning Musings….

1. The Venture’s similarities to mid-2010

2. CSR makes important breakthrough with Re-2OX

3. Updates on JAX, ECR, VTT and ATC

4. Daniel’s Den Mega Trend alert – automated food processing!…

Did you know that for as little as just over $2 a day, you can be a BMR subscriber and tap into the best analysis and picks for the junior resource sector that you’ll find anywhere?  Last year’s BMR Top 50 List returned a whopping 118% and we are delivering market-trouncing returns again in 2017BMR was the first to call the new bull market in the Venture in early 2016, and our coverage of the commodities space gives you valuable daily insights into price movements and critical trends.  BMR is daily information that puts you ahead of the crowd!

We also give first-time subscribers an industry-leading 100% money-back satisfaction guarantee.  If you don’t believe BMR has helped you make money for your first 6-month subscription period, we’ll refund your subscription fee in full – no questions asked!

Did you know that for as little as just over $2 a day, you can be a BMR subscriber and tap into the best analysis and picks for the junior resource sector that you’ll find anywhere?  Last year’s BMR Top 50 List returned a whopping 118% and we are delivering market-trouncing returns again in 2017BMR was the first to call the new bull market in the Venture in early 2016, and our coverage of the commodities space gives you valuable daily insights into price movements and critical trends.  BMR is daily information that puts you ahead of the crowd!

We also give first-time subscribers an industry-leading 100% money-back satisfaction guarantee.  If you don’t believe BMR has helped you make money for your first 6-month subscription period, we’ll refund your subscription fee in full – no questions asked!

To read the rest of today’s Morning Musings, sign up NOW or login as a current subscriber with your username and password.

April 28, 2017

7 @ 7:00

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

1. Gold has traded between $1,264 and $1,269 so far today…as of 7:00 am Pacific, the yellow metal is up $2 an ounce at $1,266…a pick-up in Asian demand has helped support Gold prices in the $1,260’s this week…premiums in China increased to $8 to $10 above the international benchmark from $3 to $4 an ounce last week, while India has reported strong sales related to Akshaya Tritiya, the 2nd-biggest Gold-buying occasion in India after Dhanteras, which falls in October-November…while solid technical support for Gold exists in the $1,260’s, the Fib. $1,235 level could certainly be tested given the recent breakdown below a short-term uptrend line…however, the broader picture remains very positive and bargain hunters would likely step in vigorously on any additional minor weakness in Gold

2. The U.S. economy turned in the weakest performance in 3 years in the January-March quarter as consumers sharply slowed their spending…the result repeats a pattern that has characterized the recovery since 2009 – lackluster starts to the year…the Commerce Department says GDP grew by just 0.7% in Q1 following a gain of 2.1% in the 4th quarter…economists polled by Reuters had expected a growth rate of 1.2%…the slowdown primarily reflected slower consumer spending, which grew by just 0.3% – the poorest showing in more than 7 years…however, business and consumer confidence have both shot up significantly during the first few months of the new Trump administration and that should translate into much better growth numbers later in the year…deep corporate and individual tax cuts, as proposed by the White House Wednesday, would also be a major boost if they can be pushed through Congress…

3. After touching a 1-month low yesterday, Crude Oil prices have firmed up this morning with WTIC 41 cents higher at $49.38 as of 7:00 am Pacific…gains are being aided by a weaker dollar and signs that non-OPEC member Russia was fully compliant with output limits agreed among major producers late last year…a key will be for the Russians to agree to an extension of those cuts when meetings take place late next month…we’ll have an updated Oil chart in today’s Morning Musings

4. It has been a rough week for the Venture but an ideal time for astute investors to scoop up bargains given the tremendous technical support underpinning the Index between 780 and 800…the Venture has recovered 3 points to 803 as of 7:00 am Pacific on this final trading day of the month…PyroGenesis (PYR, TSX-V), which has climbed nearly 50% this week, is up a penny at 74 cents…in Toronto, the TSX has added 73 points with the Gold Index rebounding 4 points to 206…it fell as much as 8.2% this week…the NASDAQ has jumped another 14 points to 6063Mitek Systems (MITK, NASDAQ), which we’ll have an update on in Morning Musings, is trading robustly after reporting record revenue and profitably for fiscal Q2…the Dow is off 16 points through the first 30 minutes of trading…

5. Enforcer Gold (EGM, TSX-V) just raised another $5 million (hard dollar at 20 cents, flow-through at 25 cents), completing the final tranche of an over-subscribed financing as announced yesterday…that’s $9 million the company has raised over the past 4 months as it prepares to commence a major exploration program set to commence in mid-May and run uninterrupted through late fall at its Montalembert Gold Project in northern Quebec…drilling is anticipated to commence in mid-to-late June and will initially test 4 high-priority targets based on the company’s review of historical data…VEIN is unchanged at 18 cents in early trading…

6. A top-performing stock this week has been Deveron UAS (DVR, CSE), one of our favorites which is in the midst of completing a game-changing financing for at least $2 million (the initial tranche for $1.3 million has already closed)…the company’s recently announced multi-year deal with Thompsons Ltd. is further evidence that DVR is dominating and leading innovation in drone-data-related precision agriculture…Norm Lamothe, the original owner and developer of UAS business Eagle Scout acquired by DVR last year, stated:  “There are so many opportunities to apply technology to the 88 million acres of farmland in Canada, and our UAV service delivers data analytics and solutions while saving the farmer the additional burden of owning hardware, interpreting data, planning flights and dealing with the regulatory system.”  Deveron UAS is making new inroads into Western Canada as well as the United States…

7. Keep an eye on RJK Explorations (RJX.A, TSX-V) which has started Phase 2 of a 5,000-m drill program at its 100%-owned Maude Gold Property located on the Pipestone fault within the Timmins-Matheson Gold corridor…what’s significant is that the RJK is now targeting the area below the 330-m level where where historical drilling had returned high-grade Gold intersections including 8 m of 19.5 g/t Au at the 375-m level and 2.5 metres of 12.3 g/t Au at the 475-m level…potential to intersect significant high-grade zones exists with downplunge drilling…with only about 17 million shares outstanding, RJK’s current market cap is just $2.4 million with the stock trading at 14 cents…

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April 27, 2017

7 @ 7:00

Visit our comments section during the day for breaking developments. BMR Morning Market Musings returns tomorrow.

1. Gold has traded between $1,261 and $1,268 so far today…as of 7:00 am Pacific, the yellow metal is down $8 an ounce at $1,261…while support exists in the $1,260’s, the Fib. $1,235 level could certainly be tested given the recent breakdown below a short-term uptrend line…the World Bank’s latest and just-released Commodity Markets Outlook estimates that 2017 Gold prices will average $1,225 an ounce but will gradually fall over the next 3 years to $1,206 in 2018, $1,187 in 2019 and $1,169 by 2020 (previous World Bank Gold price predictions have proven to be wildly incorrect, so contrarians will like what they’re saying now)…they state that upside risks to their current forecast include “widening geopolitical tensions, stronger-than-expected physical demand in China, delays in anticipated central bank rate increases, and mine supply shortfall” (no mention of government debt issues across the globe)…the downside risks are “stronger economic growth, faster-than-expected increases in U.S. interest rates, and weaker physical demand.”

2. Oil prices have come under pressure again this morning, dipping below $49 a barrel…U.S. data yesterday showed a drop in Crude Oil stocks; however, gasoline inventories surged as refiners produced more fuel than the market could consume…if gas inventories remain elevated after the summer driving season, it could dent demand for feedstock Crude Oil…meanwhile, U.S. Crude Oil production continues to rise, up 10% since mid-2016 at 9.27 million bpd…amidst all of this, the current expectation that OPEC will extend its production cuts to cover all of 2017 should provide ample support for prices at key technical levels in the upper $40’s

3. The NASDAQ hit another new all-time high in early trading of 6,046Kopin Corp. (KOPN, NASDAQ), one of our favorite technology plays, jumped 35 cents yesterday for its highest closing price ($4.20) in more than 2 years…the Dow is up 8 points through the first 30 minutes of trading…in Toronto, the TSX has slid 64 points on softness in Gold and Oil while the Venture is 1 point lower at 806PyroGenesis Canada (PYR, TSX-V) continues to look strong and is unchanged at 77 cents as of 7:00 am Pacific after its 7th straight daily advance yesterday…

4. Marathon Gold (MOX, TSX) has reported impressive results this morning from the deepest holes ever drilled at its Marathon deposit in the Valentine Lake Gold Camp…drill hole MA-17175 intersected broad intervals of intermittent moderate to high-grade Gold to depths of 966 m, including 1.77 g/t Au over 101 m (196 m to 297 m)…other highlights from the same hole included 19 m @ 4.09 g/t Au (includes 5 m @ 12.54 g/t Au) between 531 m and 550 m, and 32 m @ 3.25 g/t Au (includes 5 m @ 11.08 g/t Au) between 881 m and 913 m…drill hole MA-17174 featured 76 m @ 1.36 g/t Au (223 m to 299 m) and 35 m @ 1.80 g/t Au (342 m to 377 m)…deeper intercepts in hole 174 along the hanging wall edge of the mineralized corridor weren’t as strong as those for hole 175 (the 2 holes were spaced 180 m apart along strike), but both holes clearly demonstrate the potential for definition of additional Gold resources beneath the lower limit of the February 2017 resource body…Marathon is a classic orogenic Gold deposit, so it has strong underground mining potential to go along with its large near-surface open-pit resource…MOZ opened higher at $1.25 this morning and climbed as high as $1.30 before pulling back…it’s up a penny at $1.22 as of 7:00 am Pacific

5. Eskay Mining (ESK, TSX-V) has finalized a formal option agreement with Silver Standard Resources (SSO, TSX) to accelerate exploration and development of ESK’s highly prospective SIB Property contiguous to the prolific Eskay Creek mine…under the terms of the deal, Silver Standard can earn up to a 60% undivided interest in the SIB, starting with an aggregate of $11.7 million in exploration expenditures over the next 3 years including $3.7 million in the first year…Carl Edmunds, chief geologist at Silver Standard, calls SIB an “extraordinary opportunity” given the fact it hosts numerous Gold-Silver occurrences over 4 km within the same volcanic rocks that host the Gold-Silver-enriched VMS deposits mined at Eskay Creek…historical drill results at the Lulu zone include 14.3 m @ 14.4 g/t Au and 1,060 g/t Ag, and 24.8 m @ 10.8 g/t Au and 766 g/t Ag…significantly, since those results in the 1990’s, Eskay Mining has found the extension of the Lulu and Eskay Creek host felsic volcanic rocks below a fault that had hindered further exploration efforts…the SIB is the best-chance immediate opportunity in British Columbia for another Eskay Creek-type deposit…at 44 sq. km, SIB represents just under 10% of ESK’s sprawling land package which features multiple other target areas prospective for various types of deposit styles including Eskay Creek-style mineralization…ESK was halted pre-market yesterday and has to be cleared to resume trading…

6. As we speculated yesterday in this space, Barkerville Gold Mines (BGM, TSX-V) seemed to have a financing in the works given a recent flurry of news releases on drill results from their Cariboo Gold Project…sure enough, the company this morning announced a $15 million bought deal at 95 cents with Haywood Securities as lead underwriter…meanwhile, BGM also intends to complete a concurrent non-brokered private placement of 16.7 million units on the same terms and conditions to Osisko Gold Royalties (OR, TSX) and Osisko Mining (OSK, TSX) for gross proceeds of $15.8 million, such that OR and OSK maintain their respective percentage ownerships in Barkerville…closing is expected by the middle of May…BGM, which already has more than 300 million shares outstanding, is off 4 pennies at 97 cents through the first 30 minutes of trading…

7. Pure Gold Mining (PGM, TSX-V) has intersected 133.4 g/t Au over 2 m in drill hole PG17307 at a depth of 225 m below surface, the highest grade result to date from the McVeigh zone at its 100%-owned Madsen Gold Project where a 70,000-m, multiple drill rig exploration program continues…this intercept lies approximately 150 m below mined stopes on level 2 and outside of conceptual areas studied for potential mining development in the 2016 PEA…drilling has also confirmed that the structures hosting mineralization in the McVeigh extend over 600 m to the southwest as drill hole PG17359 returned 13.9 g/t Au over 1.5 m in the Fork zone…the McVeigh, Fork and Starratt target areas link into a common mineral system extending for over 5 km…PGM is off a penny at 57 cents as of 7:00 am Pacific

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