4:00 pm Pacific

Garibaldi Resources Corp. (GGI, TSX-V) Special Report (click on link below)

The strength in Garibaldi Resources Corp. (GGI, TSX-V) the last few days should come as no surprise, given intense activity in Mexico and developments in the Sheslay Valley in northwest British Columbia which we’ll be expanding on in greater detail Monday.

GGI has now staged a confirmed breakout above a “flag formation”, a technical event with significant implications, after today’s close at 15 cents on the Venture.  Keep in mind, not only is GGI the largest landholder among juniors in the very “pregnant” Sheslay Valley district where a second Cu-Au porphyry drilling discovery has been made very close to its border (GGI has multiple targets of its own over an incredible 15 km corridor with news pending on that), but the company is also currently extremely active in Mexico with drilling continuing at its La Patilla Gold Property.  Each of the holes drilled to date, according to last week’s news, have cut “significant intervals of quartz veining similar to that which yielded” high-grade Gold values from channel sampling. Both factors are contributing to GGI’s strength at the moment.  Other potential catalysts are at play in Mexico as well, in addition to B.C. (besides the Sheslay).

An updated 3.5-year weekly GGI chart from John is included in the GGI Special Report (click on link below).   Quite simply, this is an extremely bullish technical picture with RSI(14) also breaking above a trendline at 62% and pointing higher.  As we’ve stated repeatedly, Garibaldi has a big advantage over most of its peers when it comes to share structure (not to mention working capital).   Most companies have had to do cheap financings over the past couple of years just to stay alive – GGI hasn’t carried out a significant financing in five years, which also means there’s no warrant “overhang” with this stock.  The company is even generating royalty income. Most importantly of all, Garibaldi possesses the kind of management and geological expertise that can dramatically build shareholder value.  We predict GGI will be a huge winner in 2014, both on the ground and in the market.  As always, perform your own due diligence.

GGI Special Alert

Gold is surging higher today, thanks to weakness in the greenback and short-covering…as of 7:30 am Pacific, bullion is up $26 an ounce at $1,263…Silver has added 48 cents to $20.28…Copper is flat at $3.33…Crude Oil has gained 48 cents to $97.21 while the U.S. Dollar Index has slid two-thirds of a point to 80.58…Platinum has climbed to its highest level in more than two months ahead of a planned strike in South Africa that may interrupt production in the top producer of the precious metal…

Two significant Russian Gold miners – Petropavlovsk and Nord Gold – plan to cut production in 2014 as they focus on cost reduction after a slump in the Gold price…two other Russian Gold producers are also unlikely to support the country’s production growth: its largest Gold miner, Polyus Gold, has recently delayed the start of its key project by a year until summer 2015, while its rival Polymetal plans to keep 2014 production flat…more moves like these are expected by other Gold producers around the globe which should have a price-supporting effect…

Freeport-McMoRan Copper & Gold Inc. (FCX, NYSE) CEO Richard Adkerson told analysts in a conference call yesterday that he continues to be very optimistic about Copper demand in China despite a slowdown in the economy.  “The size of the economy is growing to the extent that the somewhat lower percentages still translate into very substantial amounts of Copper demand. We are also realistic to know that there could be changes depending on how they manage the [Copper] inventories, how these financing transactions work and just how their whole activities go, but we are optimistic about it.  I think in general that the market is much more optimistic about it than they were a year ago.”

Growth in Copper mine supply over the next three years has been revised lower by 18% (1.1Mt) by the International Copper Study Group (ICSG)…this is equivalent to a year’s production at Escondida, the world’s largest Copper mine…the revision is because “significant delays are expected in many projects,” according to the ICSG, which is symptomatic of an industry under pressure to streamline spending…

CRB Index Updated Chart

The CRB Index continues to show technical strength in the early part of the year…the Index is moving higher after forming a strong base and climbing above a downtrend channel in place for about four months as you can see in this 1-year weekly chart from John…

Canadian Dollar Chart Update

The weakness in the Canadian dollar appears to be a deliberate strategy to overcome deflationary pressures and spur job growth, so expect additional weakness in the currency…the technicals support that view…RSI(14) on this 5-year weekly chart may challenge support around 30%…previous strong support at 94 cents is now resistance…

Today’s Markets

Asia

China’s Shanghai Composite slipped 10 points overnight to close at 2042…the HSBC/Markit manufacturing PMI unexpectedly fell to a six-month low of 49.6, indicating that the sector is contracting… in Japan, investors Investors shrugged off a Reuters poll that indicated business sentiment was set to improve for a third consecutive month in January…the Nikkei fell 125 points to close at 15696…

Europe

European markets are down moderately in late trading overseas, despite factory data for the euro zone that showed the manufacturing sector was stronger than expected in January…the manufacturing PMI for the currency union rose to a 32-month high in January, beating analysts’ expectations and providing further evidence the region is recovering…on a country-specific level, Germany’s manufacturing PMI rose to a 32-month high of 56.3, beating analysts’ expectations…

North America

The Dow is down 153 points through the first hour of trading…U.S. manufacturing growth slowed in January, according to data released by Markit…the TSX, aided by strength in commodities, has lost only 30 points, while the Venture is up 5 points at 985…

Venture Updated 3-Year Weekly Chart

It appears the Venture is gearing up for a “confirmed” breakout above resistance in the 970’s, thanks to renewed strength in Gold – we’ll see how the Venture finishes the week…below is John’s updated 3-year weekly chart..there is strong momentum in this Index as demonstrated by the RSI(14) which has broken out above all resistance encountered since the bear market began in early 2011…

Garibaldi Resources Corp. (GGI, TSX-V) Update

Garibaldi Resources Corp. (GGI, TSX-V) is showing signs of breaking out of a “flag formation” (as John’s charts indicated it likely would) and this has significant implications from a technical standpoint…keep in mind, not only is GGI the largest landholder among juniors in the Sheslay Valley area, but the company is also currently very active in Mexico with drilling continuing at its La Patilla Gold Property where each of the holes drilled to date, according to last week’s news, have cut “significant intervals of quartz veining similar to that which yielded” high-grade Gold values from channel sampling…both factors are playing into GGI’s strength at the moment…following Doubleview Capital Corp.’s (DBV, TSX-V) drilling discovery announced Monday at its Hat Property contiguous to the Grizzly, we have been conducting even more research into the Sheslay Valley district and we look forward to providing our readers in the coming days with fresh insight and a “Big Picture” view of what might be at stake here…as we’ve stated since last summer, the Sheslay area has the potential to rapidly develop into a world class Cu-Au porphyry camp with multiple deposits like “pearls on a string”, and the evidence for that continues to grow…

Below is an updated 3.5-year weekly GGI chart from John…quite simply, this is a very bullish technical picture with RSI(14) also breaking above a trendline at 62% and pointing higher…as we’ve stated repeatedly, Garibaldi has a big advantage over most of its peers when it comes to share structure – most companies have had to do cheap financings over the past couple of years just to stay alive – GGI hasn’t carried out a significant financing in five years, which also means there’s no warrant “overhang” with this stock…GGI is up half a a penny at 15.5 cents through the first hour of trading…

Gold Standard Ventures (GSV, TSX-V) Update

More positive drill results yesterday out of Gold Standard Ventures‘ (GSV, TSX-V) North Bullion Project in Nevada…the Gold deposit continues to expand laterally, and metallurgical results also show that the mineralization appears to be conducive to roaster processing…a maiden resource estimate is expected later this year…GSV is up 4 cents at 89 cents as of 7:30 am Pacific…

Adventure Gold Inc. (AGE, TSX-V) Updated Chart

An impressive move in recent days by Adventure Gold Inc. (AGE, TSX-V) – one of our long-time favorites with some excellent projects in Quebec, a strong management and geological team, and a healthy working capital position…it’s interesting to note in this 2.5-year weekly chart that AGE has broken above a downtrend line in place since late 2012…AGE is off 2 pennies at 18 cents as of 7:30 am Pacific…

Big North Graphite Corp. (NRT, TSX-V) Updated Chart

Big North Graphite (NRT, TSX-V) found technical support as expected recently between 6 and 7 cents, and showed renewed strength yesterday on total volume (all exchanges) of more than 2 million shares…below is an updated 2.5-year weekly chart from John…NRT is up half a penny at 8 cents through the first hour of trading…

Note: John and Jon both hold share positions in GGI.

Gold has traded in a narrow range between $1,238 and $1,245 so far today…as of 7:15 am Pacific, bullion is flat at $1,241…Silver is up 2 cents at $19.88…Copper is off slightly at $3.33…Crude Oil has jumped nearly $1 a barrel to $95.89 on an improved demand outlook, while the U.S. Dollar Index is unchanged at 81.09…

Analysts taking part in the annual London Bullion Market Association survey look for Gold and Silver prices to be “broadly flat” in 2014 but look for “modest” increases in platinum group metals, the organization said yesterday…

“Analysts cite the possible strengthening in the U.S. dollar, the extension of U.S. tapering of QE (quantitative easing) into 2014, weak global inflationary pressures, oversupply of Gold and further possible ETF (exchange-traded-fund) liquidation as factors which could restrain Gold prices,” the LBMA said. “But the price could be supported by continued strong demand from China, a relaxation in India’s import duties as well as the prospect that low prices could constrain mine output and supply of scrap.”

Chinese Copper Consumption Remains Resilient

Copper consumption by the world’s biggest user remains resilient even as China’s economy cools and Beijing attempts to tighten access to credit…stockpiles of the metal in LME warehouses have fallen 50% since late June, and much of that Copper has been moving to China according to industry experts…Deutsche Bank says China’s Copper appetite increased 11% last year as companies ranging from power-cable makers to home builders continued to use Copper products at a brisk clip…these companies ramped up despite slower growth in the broader economy and the Chinese government’s efforts to keep a lid on credit…many of China’s biggest copper users are state-controlled companies, which are less reliant on the loans types that are the focus of the government crackdown…a great example is State Grid Corp. of China, responsible for the maintenance and expansion of high-voltage transmission lines across most of China…the company plans to increase spending by 13% this year…

American Oil Demand Increasing

America’s need and thirst for Oil are on the increase again – fantastic – much to the chagrin, we’re sure, of the U.S. environmental and social engineering movement…in fact, U.S. demand for oil grew by more than China’s last year for the first time since 1999, according to the International Energy Agency, giving the strongest indication of how abundant energy supplies (thanks to policies introduced during the previous Bush administration) are driving an economic resurgence in the United States…the IEA, the developed world’s energy body whose forecasts are the Gold standard for the energy market, said U.S. oil demand rose by 390,000 barrels a day last year, or 2%, reversing years of steady decline…Chinese demand rose by 295,000 b/d, the weakest in at least six years…

“Almost No Poor Countries By 2035” – Implications For Commodities?

Interesting prediction by Bill Gates…in a 25-page report, he argues that there will be almost no poor countries left in the world within two decades, using today’s World Bank classification of low-income countries – even after adjusting for inflation…“Poor countries are not doomed to stay poor. Some of the so-called developing nations have already developed.  I am optimistic enough about this that I am willing to make a prediction. By 2035, there will be almost no poor countries left in the world,” Gates wrote. That’s great to hear, because that means the demand for commodities will be greater than ever…that’s a theme Frank Holmes (U.S. Global Investors) touched on at the recently completed Vancouver Resource and Investment Conference…

Today’s Markets

Asia

China’s Shanghai Composite soared 43 points or 2.2% overnight as investors breathed a sigh of relief over easing cash rates…yesterday, the People’s Bank of China moved to ease fears of a credit squeeze by pumping in $42 billion in the interbank market, the first injection since late December and the biggest one-day amount in nearly a year…

The Bank of Japan has left monetary policy steady at the conclusion of its two-day meting, as widely expected…the Nikkei was up slightly overnight…

Europe

European markets are mostly slightly higher in late trading overseas after yesterday’s boost from an IMF forecast that the world economy would grow more than previously expected in 2014…in an update to its “World Economic Outlook”, the IMF predicted global economic growth of 3.7% in 2014, up from the 3.6% growth forecast issued in October…it cited improving conditions in advanced economies for its upgrade…

North America

The Dow is down 43 points through the first 45 minutes of trading…in Toronto, the TSX is up 14 points as of 7:15 am Pacific…the Bank of Canada is warning that deflationary pressures will persist well into 2016 – a new forecast that could further delay future interest rate hikes and send the Canadian dollar even lower…the Central Bank kept its key overnight interest rate unchanged at 1% in its announcement this morning, or where it’s been since September 2010…

The Venture – seemingly gearing up for a “confirmed” breakout this week – is up 1 point to 981 as of 7:15 am Pacific…

TSX Gold Index Chart

Interesting developments from a technical perspective in the TSX Gold Index as we showed yesterday in John’s 18-month weekly chart…the Index has broken above a downtrend line going back to 2012, and now its challenge is to overcome resistance at the 200-day moving average (SMA), currently at 181, which hopefully may then become new support…we’ll see…yesterday’s action was very encouraging – despite weakness in Gold, the Index recovered from a 5-point decline early in the session to finish up slightly on the day at 180.99…RSI(14) is in overbought territory on this 6-month chart but that doesn’t necessarily rule out further gains in the immediate future (momentum is strong) before a healthy correction sets in to unwind the overbought conditions…as of 7:15 am Pacific, the Gold Index is down 2 points at 179…

Pilot Gold Inc. (PLG, TSX)

Pilot Gold (PLG, TSX) has been looking very strong recently, having broken above a downtrend line at the end of December…it then pushed through chart resistance at $1.16 yesterday, thanks to positive news from its highly prospective TV Tower Project in Turkey…drill results from the four-km long K2 trend reveal the presence of an extensive blanket of supergene copper mineralization underlying the oxide gold zones…in addition, drilling and surface work suggest that two or more Copper-Gold porphyry systems are present at K2, which includes the Kayali and Karaayi targets in the southern portion of TV Tower…

Yesterday’s breakout was significant as PLG has been trading in a horizontal channel between 80 cents and $1.16 since last April…below is a 1.5-year weekly chart from John…PLG is active in both Turkey and Nevada…PLG is up 3 pennies at $1.22 as of 7:15 am Pacific…

Corvus Gold Inc. (KOR, TSX) Update

Solid drill results this morning out of Corvus Gold (KOR, TSX) from its Bullfrog Project in Nevada where it has extended the system at depth and along strike…hole NB-13-370 has returned the deepest intersection to date on the Yellowjacket deposit (170 m downdip), importantly showing a marked increase in grade…the vein/stockwork intercept in this hole was 41.7 metres at 4.9 g/t gold and 29.7 g/t silver, including 4.9 metres of 21.2 g/t Gold and 117 g/t Silver, surrounded by over 60 metres of disseminated low-grade Gold-Silver mineralization…the hole terminated in mineralization…Corvus will be focusing on the immediate growth potential of the Yellowjacket to the north, south and at depth in a drill program scheduled to begin in the next couple of weeks…KOR is up 9 cents at $1.54 as of 7:15 am Pacific…

True Gold Mining Inc. (TGM, TSX-V) Update

Another company we like a lot has also just reported very good drill results…True Gold Mining (TGM, TSX-V) has expanded the mineralized system north of its Kao deposit at its Karma Gold Project in West Africa with results including 1.5 g/t Au over 90 m…TGM expects to be able to provide an initial NI-43-101 resource estimate for this area by the end of the first quarter…

“We anticipate that additional oxide ounces defined within the envelope of the proposed mining operation will feed into our current mine plan and be accretive to the overall Karma project in the near term,” stated Mark O’Dea, True Gold Executive Chairman…

Dwayne Melrose, President and CEO, added, “The discovery of an expansive zone of gold mineralization north of the Kao deposit highlights the potential for Karma project growth and scalability and builds confidence in our geological and exploration models.  “The area north of Kao is one of more than a dozen high-priority targets at the Karma project that contain Gold-mineralized material that is higher than cut-off grade in the feasibility study and are slated for further exploration work and drilling.”

Below is a 2.5-year updated weekly TGM chart from John…as mentioned previously, a confirmed breakout above resistance at 40 cents has occurred, and that area now becomes solid new support…TGM is up half a penny at 48.5 cents as of 7:15 am Pacific…

Fission Uranium Corp. (FCU, TSX-V) Updated Chart

Fission Uranium (FCU, TSX-V) continues to pick up steam after its 50-day moving average (SMA) reversed to the upside after being in decline since October…next important chart resistance is at $1.25 as shown in this update from John…FCU is unchanged at $1.23 as of 7:15 am Pacific…

Madalena Energy Inc. (MVN, TSX-V) Update

Madalena Energy Inc. (MVN, TSX-V), which recently hit John’s Fib. resistance level at 81 cents, is under some mild pressure this morning after announcing a $20 million bought deal financing at 70 cents (in early December, the company raised $9.2 million at 47 cents)…the proceeds from this financing, expected to close by mid-February, will be used for further development of MVN’s capital expenditure program in Argentina and Alberta…John’s updated 2.5-year weekly chart shows solid support in the immediate vicinity of the financing price announced this morning…MVN is down 6 cents at 72 cents through the first 45 minutes of trading…

Note: John, Jon and Terry do not hold share positions in PLG, KOR, TGM, FCU or MVN.

4:00 am Pacific

Gold has traded between $1,246 and $1,256 so far today…as of 4:00 am Pacific, the yellow metal is down $8 an ounce at $1,247…Silver is 36 cents lower at $19.96…Copper is off a penny at $3.33…Crude Oil is up 31 cents at $94.68 while the U.S. Dollar Index has added nearly one-fifth of a point to 81.33…

Gold has been building some technical momentum but needs to conquer the $1,250 level with the next major resistance area after that being $1,275 as John outlined in his Saturday chart…interestingly, managed money traders have added to their long positions in bullion for four straight weeks according to the latest COT report issued last Friday for the period ending Jan. 14…

Mineweb’s Lawrence Williams touched on some key points in an excellent piece yesterday (“Is Confidence Returning to the Gold Markets”?) at www.mineweb.com.  “Gold movements through the Shanghai Gold Exchange are running at near record levels,” he pointed out, while “the timing of Goldcorp’s Osisko bid could also suggest that the big Gold miners are also beginning to see an upturn in confidence with the Gold major putting in a pre-emptive strike before a rising Gold stock sector would make such a bid hugely expensive.”

In addition, Williams noted, “There have also been reports circulating that China has officially confirmed a big increase in its Gold holdings, more than doubling them from 1,054 tonnes (last updated officially five years ago) to 2,710 tonnes, but until there is official confirmation of this from both China and the IMF, one has to remain at the very least a little skeptical.  The total new Gold reserve figure quoted in the reports ties in EXACTLY with some recent Bloomberg estimates.”

Today’s Markets

Asia

Asian markets were strong overnight as fears over a credit squeeze in China eased…the Shanghai Composite rebounded from a six-month low yesterday to get back above the 2000 mark – it closed up 17 points today at 2008 – after the People’s Bank of China moved to inject liquidity into the market, easing short-term money rates…meanwhile, Japan’s Nikkei climbed 154 points or 1% to finish at 15796…

Europe

European shares are modestly higher on a busy day for corporate earnings…in the U.K., various media outlets are reporting that the International Monetary Fund (IMF) could upgrade Britain’s growth forecast for the second time in just three months today, cementing its status as one of the fastest growing major economies…

North America

Stock index futures in New York as of 4:00 am Pacific are pointing toward a positive open on Wall Street after a three-day break with the Martin Luther King Jr. holiday yesterday…despite no trading in the U.S., the TSX was bold and jumped 102 points yesterday while the Venture added nearly 4 points to finish at 979.77…a “confirmed” technical breakout on the Venture may very well come today…

Doubleview More Than Doubles As The Sheslay Valley Begins To Show Its Incredible Potential

The Sheslay Valley in northwest B.C. has been hugely under-explored and contains all the necessary geological ingredients to produce not just one, but several world-class Cu-Au porphyry deposits over a wide area…a high-grade Gold discovery is even a possibility in this well-endowed region, some geologists believe, so investors need to think BIG…yesterday’s discovery news from Doubleview Capital Corp. (DBV, TSX-V) is just one of many new chapters that could be added to the history book of B.C. exploration thanks to the vast potential of this area which is no longer being ignored…we strongly suspect that the Sheslay Valley will rapidly develop into one of the hottest exploration camps in the country – the evidence to make that statement is now more compelling than ever…Lawrence Roulston in our view was correct when he responded to a question from Rick Rule on Sunday at the Vancouver Resource and Investment Conference by stating, “There’s no other place in the world with more geological prospectivity than British Columbia.”

What really drove Doubleview yesterday was not just the grades and lengthy intersections of holes #8 and #11 at the Hat Property, with mineralization increasing at depth, but the fact that this is essentially “virgin ground” (no previous drilling at Anomaly “B” except H-6) and the horizontal distance from mineral zones in drill hole H-6 to H-8 is almost one kilometre…Anomaly “B” is just one of several targets identified at the Hat…

“Speculatively,” as DBV’s news release stated, “if the newly discovered mineral zone is, as appears likely, continuous with the historic Hoey Copper-Gold zone that lies two kilometres south of the drill hole H-8 and has closely similar geologic and mineralogic characteristics, the horizontal extent may be in excess of three kilometres.”

Overall size potential, continuity of mineralization – critical factors that got investors excited about DBV’s news yesterday, and we don’t think that enthusiasm is going to wane anytime soon…there is going to be a healthy appetite in our view to finance this company for much more drilling at the Hat, so in a fascinating – even startling – way, DBV could become a “rags to riches” story through the Sheslay Valley…that is why the junior exploration market can be so exciting, and potentially rewarding…holes #8 and #11 both ended in strong Cu-Au mineralization, so there’s plenty to speculate about here with investors eagerly anticipating the next round of drilling…

Technically, as John’s chart showed yesterday, DBV was poised for a breakout if it could overcome resistance at 15 cents which it did, closing up a dime at 18 cents on total volume (all exchanges) of 5.8 million shares…below is an updated chart (John’s Fib. “target” is not a price target, just a theoretical level based on Fib. and technical analysis)…

Garibaldi’s Grizzly – Host Of The Sheslay Valley “Heat Engine” And The “Feeder System”?

Watch out now for Garibaldi Resources Corp. (GGI, TSX-V), by far the largest landholder among juniors in the Sheslay Valley region with its Grizzly Property which has “size potential” written all over it…GGI is also healthy financially and hasn’t had to do a major financing in almost five years…

Garibaldi has been analyzing extensive current and historical exploration data from the Grizzly as well as adjoining properties, and has already reported that it has outlined “multiple targets” along a 15-km corridor stretching from Grizzly West to Grizzly Central (including a prominent “pipe-like” structure at Grizzly Central) with more details expected shortly…

One highly regarded prospector – not connected with Garibaldi, Prosper Gold or Doubleview, and one of the first individuals who gave us valuable insight into the Sheslay Valley region last spring – told BMR yesterday that he now believes Grizzly Central is a potential “feeder system” for the entire area due, in part, to offset faulting…it’s also where a higher-grade “motherlode” could exist at depth…with an outstanding geological team that includes Charlie Grieg (Pretium) and his C.J. Grieg and Associates group, one can be sure that GGI is considering all possibilities and is preparing to fire on all cylinders…they are formulating their “deposit model” for this 175 sq. km property…

BMR has modified the Sheslay Area Map from the GGI web site to indicate the location of the Hat discovery, mineralized trends (dotted lines) and other features including the Kaketsa pluton and the potential "feeder system" at Grizzly Central.

One fact is certain – most of the Mount Kaketsa pluton (northwest of Grizzly Central) is situated on the Grizzly…a strong case can be made that this pluton is a critical “heat engine” for the Sheslay district, driving mineralizing fluids throughout the area…

GGI closed a penny higher yesterday at 13 cents – expect interest to pick up significantly in the days ahead with the company gearing up to report on the Grizzly, while drilling continues at its La Patilla Gold Property in Mexico…John’s 3.5-year weekly chart shows a bullish flag formation and a growing likelihood of a near-term breakout…

With Doubleview’s dramatics, the known potential of Prosper’s Sheslay Property, and the massive Grizzly hosting targets over a 15-km corridor, the geological and market possibilities of all of this are astounding to say the least…Hollywood couldn’t have scripted this any better…

But at the end of the day, this won’t be just a three-company show…more players are involved (at least on the periphery at this point) and will become involved…

Investors following the Sheslay Valley story shouldn’t forget about Ashburton Ventures Inc. (ABR, TSX-V) which is trading at just a nickel and holds the Hackett claims (852 hectares) adjoining the eastern border of the Hat Property (one of the mineralization trends as you can see in the map above follows right onto the Hackett Property)…volcanic-sedimentary assemblages and intrusive rocks on the Hackett are similar and are believed to be part of the Stuhini group…historic aeromagnetics for the project identified a magnetic high on the southern portion of the claims, and there are reports of some very visible outcropping from the air over at least the western edge of the property…

Like many juniors, including Doubleview, Ashburton needs to raise money, but the Sheslay Valley could be the catalyst it needs…ABR also holds ground near Iskut and in the Athabasca basin, and just recently acquired claims in an emerging PGE district west of Whitehorse…below is a 2.5-year weekly chart from John showing ABR in a horizontal channel between support at 3.5 cents and resistance at 10 cents…

TSX Gold Index Chart Update

Interesting technical developments with the TSX Gold Index which has pushed above a downtrend line on this 18-month weekly chart…a “confirmed” breakout above the 200-day moving average (SMA) is also a distinct possibility in the near future (this has already occurred with the Venture)…

Note: John and Jon both hold share positions in GGI.  Jon also holds share positions in PGX and DBV.

Gold is trying to follow through on Friday’s strength and has traded between a narrow range of $1,253 and $1,259 so far today on this U.S. holiday, hitting its highest level in six weeks…as of 7:15 am Pacific, the yellow metal is up $2 an ounce at $1,256…holdings in SPDR Gold Trust, the world’s largest Gold-backed ETF, rose 7.49 tonnes to 797.05 tonnes on Friday – the first increase in a month…Silver is up 3 cents at $20.35 (see updated charts at bottom of today’s Morning Musings)…Copper is flat at $3.34…Crude Oil is down 50 cents at $93.87 while the U.S. Dollar Index has slipped more than one-tenth of a point to 81.07…Platinum has hit its highest level in two months as traders are factoring in seemingly increasing potential for a strike in the South African mining sector…

If it can hold above stubborn resistance around $1,250, which it pierced Friday, Gold has an excellent chance this week of challenging the important $1,275 area…“Go long, or be wrong” on Gold were comments on bullion from Frank Holmes, the opening speaker at the Vancouver Resource and Investment Conference yesterday…Holmes is quite upbeat on commodities for 2014, and we’ll explore some of his reasons why in more detail this week…

Good article this morning at www.mineweb.com from Kip Kean on a generally improved mood at the Resource Conference…

And an interesting headline story at www.CNBC.com (of all places) this morning – Why It’s Time To Turn Bullish On Miners...“After four years of sector under-performance due to oversupply and a lack of demand, miners present a buying opportunity in 2014, analysts say.”

Which leads us into our latest 3-year weekly chart on the Venture Exchange which has posted gains in 15 out of the last 18 sessions…after finishing Friday at 976, the Index has climbed 10% since its 887 close December 19…

Regular readers are already aware of how the Index broke above a long-term downtrend line in October which importantly then held as support through November and December, before the Index shot decisively above the downtrend line starting just before Christmas…

What’s we’re now seeing is a breakout in the RSI(14) – it’s now at 57%, pushing significantly above RSI(14) resistance levels that were encountered on the 3-year weekly chart during all major rallies since the bear market began in early 2011…as we noted in Saturday’s Week In Review And A Look Ahead, the Venture is indeed in the process of “turning around” after three very difficult years but selectivity and investor patience remain critical…technically, there has not yet been a “confirmed” breakout above the 970 resistance area but obviously that could come at some point this week…

Venture 3-Year Weekly Updated Chart

Today’s Markets

North America

U.S. markets are closed for Martin Luther King Jr. Day, and that of course is impacting trading volumes in Canada…the TSX is up 56 points through the first 45 minutes of trading, while the Venture has added 4 points to 980…

Europe

European markets are mixed in late trading overseas…

Asia

Japan‘s Nikkei average slipped 93 points overnight to close at 15642…meanwhile, China’s Shanghai Composite dropped below the 2000 level for the first time in six months, closing 14 points lower at 1991, as fears over tight liquidity overshadowed slightly better-than-expected fourth quarter GDP data…

Still, China’s growth edged a bit lower in Q4 as Beijing eased back on efforts to rev up the economy, signaling a potential slow start for the new year as the country’s leaders seek to reshape the world’s second-largest economy…many economists already expect the Chinese economy to slow further in the coming year as the country’s leaders prepare to introduce reform measures…these would be aimed at reducing the economy’s dependence on investment and trade and boosting its reliance on domestic spending and the expansion in the service industries…

The nation’s economy grew 7.7% in the fourth quarter from a year ago, slower than the 7.8% it posted in the third quarter, according to data released today by China’s National Bureau of Statistics…for the year it also posted 7.7% growth, matching the revised pace it recorded in 2012…

“There was steady economic progress [last year] and this was no small achievement,” the bureau said in a statement. But it added that the Chinese economy still faces imbalances, while “fundamentals of the economic recovery are still not stable.”

While China is trying to deleverage and slow lending, it’s hot real estate market continues unabated – news this morning that the value of new home sales surged 27% in 2013 year-on-year…

Doubleview Capital Corp. (DBV, TSX-V) Hits At The Hat

News just out within the last hour from Doubleview Capital (DBV, TSX-V) which has made a very interesting early-stage drilling discovery at its Hat Property in northwest B.C.’s Sheslay Valley…in the market, it’s all about exceeding expectations and DBV has managed to do that in our view…we’re still reviewing details of the news release, which came out just shortly prior to the opening bell, but here are some quick highlights:

• Drill hole H-8 returned a 287-metre interval grading 0.29% CuEq – what’s particularly interesting is that mineralization increased with depth (0.31% Cu and 0.22 g/t Au over 75 m between 326 m and 401 m);

• Drill hole H-11 intersected, from surface to the end of the hole, 313 m grading 0.32% CuEq (0.22% Cu, 0.18 g/t Au and 0.85 g/t Ag) – it also ended in strong Cu-Au mineralization;
  

• Very important – the horizontal distance from mineral zones in drill hole H-6 to drill hole H-8 is almost one kilometre, with mineralization at this point open in all directions.

• According to Doubleview, “On the basis of geological characteristics, mineralization and size potential, Doubleview believes that the Hat property qualifies as a Copper-Gold alkalic porphyry-type deposit.”

This is a legitimate early-stage discovery that clearly underscores the potential of the entire Sheslay Valley district…from Prosper Gold Corp. (PGX, TSX-V) to Garibaldi Resources Corp. (GGI, TSX-V) and now Doubleview as a very serious player, the Sheslay Valley area is going to light up like a Christmas tree with at least three major exploration/drilling programs now in the works…much more tomorrow as we continue to review details…

Below is a DBV 3-year weekly chart from John entering this morning’s trading for our readers’ due diligence…DBV is up a nickel at 13 cents on volume of more than 1 million shares as of 7:15 am Pacific (it started trading at 7:00 am Pacific)…

Osisko Mining Corp. (OSK, TSX) Posts Record Q4 Production

Osisko Mining (OSK, TSX), the target of a takeover attempt by Goldcorp Inc. (G, TSX), has reported record fourth quarter Gold production of 137,321 ounces at estimated cash costs of $713 per ounce, compared with 101,544 ounces at cash costs of $833 per ounce in the corresponding period of 2012…Gold production for all of 2013 totaled 475,277 ounces at estimated cash costs of $760 per ounce, compared to 388,478 ounces at cash costs of $849 per ounce for 2012, giving a production increase of 22% year-on-year with cash costs decreasing 11% year-on-year…Gold recoveries were 88.9%, well above the 85.9% planned in the feasibility study…Osisko, like other Canadian producers, stands to benefit from a lower Canadian dollar…

Azincourt Uranium Inc. (AAZ, TSX-V)

Azincourt Uranium (AAZ, TSX-V) and JV partner and operator Fission Uranium (FCU, TSX-V) have commenced a $1 million winter diamond drilling program (eight to 10 holes) at the Patterson Lake North Property…a radon survey and ground geophysical program will also be carried out…drilling will test a north-northwest trending central conductive meta-sedimentary belt, geophysical anomalies under Hodge Lake, and a prospective north-northwest trending conductor…

Castle Mountain Mining Company Ltd. (CMM, TSX-V)

Castle Mountain Mining Company (CMM, TSX-V) is worthy of our readers’ due diligence as the company continues to advance its already permitted Castle Mountain Gold Project in San Bernardino County, California…CMM completed a $5 million bought deal financing at 55 cents late last year after releasing a maiden NI-43-101 resource estimate (see Nov. 21 NR) totaling 3.4 million ounces (indicated and inferred) at an average grade of 0.94 g/t Au (at a 0.34 g/t cut-off)…Chairman Robert Buchan stated,  “The combination of size, grade, pervasive oxidation and a full mining permit position Castle Mountain amongst the very best development assets in North America. The asset is further differentiated by our expectation to deliver scalable production in a short period of time, at expected low capital and operating costs.”

Below is 9-month weekly chart from John showing CMM attempting to break out of a horizontal channel between Fib. support at 46 cents (the rising 100-day SMA is at 48 cents) and resistance at 60 cents…as of 7:15 am Pacific, CMM is up a nickel at 65 cents…

Silver Short-Term Chart

Silver is showing signs of wanting to push above resistance at $20.50 – watch for that this week…RSI(14) on the 6-month daily chart remains in a nice uptrend that started near the end of November…

Silver Long-Term Chart

A double bottom in Silver, like in Gold?…quite possible…clearly there is very strong support for Silver around the $19-$20 area where it faced stiff resistance between 2008 and late 2010…

Note: John and Jon both hold share positions in GGI.  Jon also holds share positions in PGX and DBV.

As regular BMR readers know, the under-exploited Sheslay Valley in northwest B.C. is our pick to emerge as one of the hottest exploration camps in Canada in 2014 and a potential new world-class Copper-Gold porphyry district (see map below).    We don’t state that lightly – it’s a well thought-out conclusion and “forward thinking” based on literally hundreds of hours of research over the last eight months that our team has put into this geologically very prospective part of the province.  We’ve carried out this work for one simple reason: We’re looking ahead and we see the potential for extraordinary investment returns associated with this play over the next year, especially with the Venture beginning its recovery out of a nasty three-year bear market.  The best time to jump into opportunities such as this is at the bottom of the cycle when many investors are so battered, bruised and negative, they can’t see the forest for the trees.

Sheslay Valley Still Undiscovered By Most Investors

We reckon that most junior resource investors around the world have never even heard of the Sheslay Valley yet, even though it’s a key part of the prolific Stikine Arch and on trend with massive deposits to the southeast.  This should change in the coming months – certainly by the summer – as Prosper Gold Corp. (PGX, TSX-V) “turns up the dial” with extensive drilling at its Sheslay Project to follow up on VERY promising results obtained last summer and early fall, while Garibaldi Resources Corp. (GGI, TSX-V) – the largest landholder among juniors in the Sheslay whose stock price has more than doubled since we first brought the company to our readers’ attention last June – launches an assault on its 175 sq. km Grizzly Property.  The Grizzly has never been drill-tested but has multiple targets over a 15-km northeast-trending corridor.  As investors await news from GGI on the Grizzly (we suspect they are working on a major geological interpretation based on extensive historical and current data from their own recent exploration plus results obtained from adjoining properties), the company does hold a distinctive advantage over its Sheslay peers at the moment due to its present active drilling and exploration programs in Mexico where opportunities for success are significant and growing as evidenced by news the other day.

In our reporting on the Sheslay district, our focus has mainly been on Prosper Gold and Garibaldi due to their strong balance sheets and highly-skilled management and geological teams.  These two companies have the strength to immediately take their respective opportunities in the Sheslay district to the next level, though they’re not expected to have boots back on the ground until the spring.  The third major player (among juniors) in the Sheslay area is Doubleview Capital Corp. (DBV, TSX-V) which is weak financially, and short of the scope of personnel experience and talent that PGX and GGI bring to the table, but DBV wins points for working hard trying to demonstrate that its Hat Property (contiguous to both the Sheslay and the Grizzly) has the potential for a deposit as well.  The Hat has been explored intermittently for decades but had never been drilled until last year by Doubleview.

Sheslay Valley Area Map – Potential Large-Scale Cu-Au Porphyry District

Sheslay Valley Area Map - this is taken from the Garibaldi web site, and we've added in the approximate location of Anomaly "B" at the Hat, and a few other features including dotted lines to indicate mineralization trends.

Prosper’s Advanced-Stage Sheslay Project

The “Star” is just one of several Cu-Au porphyry targets at Prosper’s Sheslay Project, and the consistency of mineralization in 29 holes drilled to date at the Star – 23 historically and six by Prosper – is nothing short of remarkable in terms of intersection lengths and grades.  The numbers are comparable to economic Cu-Au porphyry deposits elsewhere in B.C. and around the globe – investors have to understand that as long as there’s tonnage, grades of 0.30% Cu with a Gold “kick” can produce a robust mine. There was a reason Pete Bernier and award-winning geologist Dirk Tempelman-Kluit selected the Sheslay over about 150 other properties they performed due diligence on following their huge success with Richfield Ventures (Blackwater discovery) which went from pennies to more than $10 a share on a take-out by New Gold Inc. (NGD, TSX).

All the work carried out by Prosper last summer and fall strongly suggests that the Star target has an excellent chance of connecting with the North Star, and perhaps other targets (known and yet to be discovered?) on the 65 sq. km property.  Four targets (Star, North Star, East Star and Copper Creek) are clustered within a 12 sq. km area.  Meanwhile, the Pyrrhotite Creek porphyry – nearly five km southwest of the Star – is located in a second distinct multiple target area that also appears to encompass a significant portion of Garibaldi’s Grizzly Property which also hosts much of the Mount Kaketsa pluton believed to be an important “heat engine” for the area.

In fact, Garibaldi stated in a news release Sept. 30, “A preliminary review of the combined data confirms that the rock units underlying the Grizzly extend north on to the Sheslay property, and shows two parallel faults (extending 15 km from Grizzly West to Grizzly Central) that appear to be related to porphyry Copper-Gold occurrences on Sheslay and Grizzly West. Additional processing of the data is continuing…”

Doubleview’s Work At The Hat

Late last spring, Doubleview drilled six holes at its Hat Property – five of them into Anomaly “A” and the last one (hole #6)  into Anomaly “B” (they have several anomaly targets) located about 800 metres south.  Results from Anomaly “A” were disappointing but that area warrants further study.  The sixth hole was drilled into the western edge of Anomaly “B” and returned an interesting 110 m interval grading 0.21% Cu and 0.15 g/t Au.  The company raised more funds and drilled another five holes into various parts of Anomaly “B” beginning at the end of October.  Drill results are pending, and the stock was halted just before the open Friday morning. Undoubtedly, numbers are on the way as early as tomorrow.

Hat Holes – 9 km SE of Star Target

Keep in mind, for scale purposes, that these latest five holes at the Hat were drilled approximately a whopping nine km (9,000 m) southeast of Prosper’s Star target. They weren’t “confirmation” holes like Prosper drilled at the Star.  This is basically virgin ground requiring much more interpretation and work, though the one hole drilled last spring was a clue that something could be there.  But we caution that the odds of a “glory hole” at this early stage are very slim.  Our hope is that Doubleview has found enough reasons for more hope, that they’ve been able to at least confirm or modestly improve upon the results from that one previous and only hole ever drilled at Anomaly “B”.  That’s our measuring stick – a little bit of progression, allowing DBV to get a lift on its share price and raise more money.   Overall investor expectations are low, which is probably good – DBV last traded at a mere 8 cents.

The Hat is certainly a very prospective property.  We don’t say this out of any disrespect to Doubleview or its President, Farshad Shirvani, who has acted boldly with this project, but in the hands of another company with greater resources – technically and financially – the probability of defining a large tonnage deposit at the Hat would increase substantially in our view.

However, if our theory about the geological potential of the entire Sheslay district holds any merit, if we’re on the right track with how we’re interpreting all of this, then DBV should have something to offer investors – not anything spectacular, necessarily, but at least enough to warrant further drilling and create the possibility of a “Hat Trick” in the Sheslay district this summer – three simultaneous drill programs (Prosper, Garibaldi, Doubleview) which would really heat things up.

TSX Venture Exchange and Gold

The Venture climbed another 9 points last week on increased volume to finish at 976 as it continues to edge closer to an important confirmed breakout.  The Index’s 13-session winning streak – longer than any streak put together during the 2009-2011 bull market – finally ended last Monday, but this market has risen 10% since December 19 and has posted gains in 15 out of the last 18 trading days.  Momentum is clearly in the Venture’s favor at the moment, and the very useful 3-year weekly chart we’ve been tracking (updated version Monday morning) shows a breakout in the RSI(14) – it’s now at 57%, pushing significantly above RSI(14) resistance levels that were encountered during all major rallies since the bear market began in early 2011.  Yes, the Venture is indeed in the process of “turning around” after three very difficult years but selectivity and investor patience remain critical.

A few really encouraging specific signs were witnessed this past week in the mining/exploration sector beginning, of course, with Goldcorp Inc.’s (G, TSX) proposed takeover of Osisko Mining Corp. (OSK, TSX).  Osisko called the offer “very low” and “opportunistic”.  The highly respected Frank Holmes, who will be speaking at the Vancouver Resource and Investment Conference which we’ll be attending Sunday and Monday, made an astute observation in his January 10 weekly Investor Alert (www.usfunds.com).   “Valuations of Gold miners are approaching their cheapest relative to book value in at least two decades, precisely at the time when free cash flow generation has bottomed and cost reductions are kicking in. The current valuations present opportunities…”

Financings are beginning to pick up, at least for the better deals – Simon Ridgway’s Cordoba Minerals Corp. (CDB, TSX-V) announced a $12 million raise Wednesday for its very interesting Colombian project, and then reported Friday that the financing has been increased to $15 million.  On Wednesday, Niocorp Developments Ltd. (NB, TSX-V) announced a $10 million financing.

And then there was the massive move Friday in Excelsior Mining Corp. (MIN, TSX-V) – up 43 cents to close at 55 cents on total Venture volume of 13.3 million shares – as the market reacted with euphoria over the company’s release of a very positive Prefeasibility Study for its Gunnison Copper Project in southern Arizona.  That kind of reaction shows how market sentiment is changing.

A few drilling discoveries and it’s off to the races…

Venture 13-Year Monthly Chart

Let’s take a look first at the bigger picture as far as the Venture is concerned with this 13-year monthly chart from John.  Critically, the MACD has reversed upward after being in decline since 2011.  This suggests that, indeed, a very important change of direction is occurring in the market.  In addition, it appears we’re about to see a decisive cross of %K above the 20% line.

Venture 6-Month Daily Chart

We’re not prepared just yet to call a “confirmed” breakout in the Venture above critical resistance around 970.  The Index successfully tested the 970 area Thursday during an intra-day pullback, and climbed as high as 980 Friday.  But a breakout at some point is inevitable, in our view, and could certainly occur next week.  Momentum is strong, and it’s reasonable given present circumstances to expect RSI(14) on this 6-month daily chart to remain at highly elevated levels (currently above 70%) for a while longer.  Buy pressure is really ramping up.

The Seeds Have Been Planted (And Continue To Be Planted) For The Next Big Run In Gold Stocks

There’s no better cure for low prices than low prices.  The great benefit of the collapse in Gold prices in 2013 is that it forced producers (at least most of them) to start to become much more lean in terms of their cost structures. Producers, big and small, have started to make hard decisions in terms of costs, projects, and rationalizing their their overall operations.  Exploration budgets among both producers and juniors have also been cut sharply.  In addition, government policies across much of the globe are making it more difficult (sometimes impossible) for mining companies to put Gold (or other) deposits into production, thanks to the ignorance of many politicians and the impact of radical and vocal environmentalists (technology has made it easier for groups opposing mining projects to organize and disseminate information, even in remote areas around the globe).   Ultimately, all of  these factors are going to create a supply problem – think about it, where are the next major Gold deposits going to come from? On top of that, grades have fallen significantly just over the past decade.

It doesn’t take a rocket scientist to figure out that the next huge bull market in Gold stocks is just around the corner due to demand-supply dynamics, much leaner producers who will suddenly become earnings machines, and a junior market that will be healthier simply because a lot of the “lifestyle” companies sucking money out of investors will simply disappear or get taken over by individuals or groups who are actually competent and serious about building shareholder value.   A healthy “cleansing” in the market has been taking place.  As this continues, more and more seeds are being planted for an incredible future move in well-managed Gold producers and explorers that could make the dotcom bubble look like a tea party.  As for the juniors, focus on the small universe of companies that have the ability to execute both on the ground and in the market.  Companies that are strong financially, have superior exploration prospects, competent management and clean share structures.

Gold

Gold finished the week on a strong note, surging $11 an ounce Friday to finish at $1,254.  That was a modest $5 gain for the week, but the close above $1,250 is encouraging and suggests that bullion could be gathering the energy to test important resistance around $1,275.

John’s 9-month daily chart shows that buy pressure is increasingly rapidly – quite a dramatic change, actually, from the mostly dominant sell pressure since mid-September.  RSI(14) is on a nice uptrend with lots of room to go higher.  For an important “shift” in this market to occur, for the bears to be put on the defensive, Gold must push through the $1,275 resistance and then overcome the downsloping wedge.

The U.S. Gold market is closed Monday for a holiday.  Investors will be keeping a close eye, however, on Chinese economic data set for release Monday.

Silver gained 15 cents last week to close at $20.32 (John will have updated Silver charts Monday).  Copper added 3 pennies to $3.32.  Crude Oil advanced $1.65 a barrel to close at $94.37 while the U.S. Dollar Index jumped half a point to finish at 81.18.

The “Big Picture” View Of Gold

As Frank Holmes so effectively illustrates at www.usfunds.com, the long-term bull market in Gold has been driven by both the Fear Trade and the Love Trade.  The transfer of wealth from west to east, and the accumulation of wealth particularly in China and India, has had a huge impact on bullion.  Despite Gold’s largest annual drop in three decades in 2013, the fundamental long-term case for the metal remains solidly intact – currency instability and an overall lack of confidence in fiat currencies, governments and world leaders in general, an environment of historically low interest rates, a Fed balance sheet now at $4 trillion and still expanding, money supply growth around the globe, massive government debt from the United States to Europe, central bank buying, flat mine supply, physical demand (especially from China), emerging market growth, geopolitical unrest and conflicts…the list goes on.  However, deflationary concerns around the globe and the prospect of Fed tapering had a lot to do with Gold’s plunge during the spring below the technically and psychologically important $1,500 level, along with the strong performance of equities which has drawn “momentum traders” away from bullion.  June’s low of $1,179 may have been the bottom for Gold – only  time will tell.  Given the high level of bearishness that exists in this market at the moment, it’s probably safe to say that if Gold hasn’t seen its low yet, it’s at least very close to a bottom (within 10% to 15%).  We do, however, expect new all-time highs as the decade progresses and inflationary pressures finally kick in around the globe after years of ultra-loose monetary policy.  There are many reasons to believe that Gold’s long-term bull market is still intact despite this major correction from the 2011 all-time high of just above $1,900 an ounce.

Welcome to our site, or at least the initial version of it!  BMR has been online for more than four years and strictly through word-of-mouth we have built a loyal following.  We encourage reader feedback and the exchange of helpful opinions and ideas among investors in our forum. 

We’re continuing with our plans to ultimately construct a very unique investment and money-management resource site that goes considerably beyond what we have now.  We focus a great deal on the Gold, Silver and Copper markets as well as trends in the global economy, in addition of course to the technical health of the TSX Venture Exchange (CDNX).  An important component of this site, as well, will always be original research on high quality junior exploration companies or small producers that offer very real and significant upside potential. We are extremely selective in the companies we feature and put forward to investors – we prefer quality over quantity, and we are being more selective than ever in the current market environment.  We look for companies with the ability to execute both on the ground and in the market, who are determined to build shareholder value, which actually excludes most Venture stocks.  However, investors must understand that the companies we do put forward for our readers’ due diligence are still highly speculative situations and entail considerable risk, volatility and unpredictability.

Our intent is to provide you with information that you can use as part of your own due diligence.  Our stock coverage is for informational and entertainment purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction. Always perform your own due diligence and please read our disclaimer at the bottom.

We use a combination of fundamental and technical factors in determining the value and potential of a stock.  In terms of fundamentals we look for a company with a superb project supported by strong management.  Management must possess integrity, solid ethics and a determination to succeed and build shareholder value.

At BullMarketRun (BMR) we approach the handling of money from a biblical perspective and this is an important topic we will be sharing with our readers (and listeners) as the site continues to develop. The Bible teaches so much about money and how to handle it and invest it –  there are literally thousands of verses on how we should handle the money and possessions that God entrusts us with.  By examining the life of Jesus and reading the Word of God, we can all become fully equipped to be successful investors and handle money wisely.  We have a God who thinks big – He created the universe – and He wants us to think big  in every area of our lives.  When we handle money from a Biblical perspective (His money that we have been given stewardship of), He will bless you.  This all begins, of course, with a personal relationship with Jesus Christ by accepting Him as your Lord and Savior and putting Him at the throne of your life.  It is the most important decision you’ll ever make.

God Bless,

Terry Dyer

Owner/Publisher, www.BullMarketRun.com

Disclaimer:

BullMarketRun.com (BMR) is completely independent from any companies it covers.  BMR accepts no compensation of any kind from any groups, individuals or corporations for coverage of any company mentioned on this site.  We accept no advertising either.  Our stock coverage is for informational and entertainment purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. No investment opinion or other advice is being rendered on any stock or company. We strongly recommend that you consult with a qualified investment adviser, one licensed by appropriate regulatory agencies in your legal jurisdiction, and do your own due diligence and research before making any investment decisions. The stocks we cover, by definition, are highly speculative and potentially very volatile. Investors are cautioned that they may lose all or a portion of their investment if they make a purchase or short sale in these speculative stocks.  We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction. It should be assumed that BMR personnel, writers and their associates may hold or dispose of or trade in positions in any securities mentioned herein at any time.  Owner/Publisher of BullMarketRun.com is Terry Dyer of Langley, British Columbia.

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All statements in BMR’s reports, other than statements of historical fact, may be forward-looking statements. These statements relate to future events or future performance. Forward-looking statements are often but not always identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.