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

1. U.S. equity markets have reopened this morning but only for a half day of trading due to the Thanksgiving holiday…U.S. markets close early at 10:00 am Pacific (1:00 pm Eastern)…as of 7:00 am Pacific, the Dow is up 54 points at a new record high of 19137…in Toronto, the TSX is 11 points higher while the Venture has added 1 point to 733…

2. Crude Oil prices are off modestly this morning in thin trading conditions due to American Thanksgiving, but will nonetheless post a significant increase this week ahead of next Wednesday’s critical OPEC meeting in Vienna…for a variety of reasons the Saudis are determined to make a deal happen, even it means accepting a disproportionate share of the production cut…they’ll probably also get some help from non-OPEC member Russia…interestingly, Russia has stolen its place as top supplier to China, the world’s biggest Crude importer and growth market despite a monthly drop in imports in October – yet another indication that the Saudis’ policy enacted 2 years ago to let prices slide in order to defend market share has not had the desired effect…they also weren’t able to do as much damage as they hoped to North American producers…last call for the HOU (double bull Crude ETF) which is well-positioned, technically and fundamentally, for strong gains next week on an OPEC deal…the HOU is off 18 cents at $7.35 through the first 30 minutes of trading…

3. Gold dipped into the $1,170’s overnight before rebounding modestly…the Gold premium on the Shanghai Gold Exchange soared as high as $30 yesterday before easing back to a still historically high level of around $15 today, according to precious metals trader MKS (Switzerland) SA…”The high premium seems to be more a factor of a supply shortage in mainland China as opposed to outright demand. As a result, despite the high premiums this week, the turnover has not been anything enormous.”

4. Gold in Canadian dollars is currently hugging an uptrend line around $1,600 CDN going back to late 2014…updated chart in today’s Morning Musings…

5. Despite the current weakness in Gold, there’s still a healthy appetite for financings…Harte Gold (HRT, TSX) announced a $25 million bought deal yesterday at a premium to the market – $15 million in flow-through at 39 cents and $10 million in hard dollars at 30 cents with Appian Natural Resources Fund…the financings, being used to advance Harte’s Sugar Zone property east of Hemlo, will increase the company’s total share count past 400 million…for an example of a much more dilutive financing, Alexandria Minerals (AZX, TSX-V) wins this week’s price for shareholder abuse with the announcement that it’ll be issuing nearly 100 million shares at 6 cents (flow-through) and 5.5 cents (non-flow-through), respectively, with a full warrant attached to each, which will lift the company’s share count close to half a billion…who’s next?…

6. Zinc prices have hit yet another multi-year high of $1.26 while Lead is now above $1 a pound for the first time since the summer of 2014…one beneficiary of this metal strength is Canada Zinc Metals (CZX, TSX-V) which is advancing one of the world’s premier undeveloped Zinc-Lead deposits with Silver in northeast British Columbia…we’ll tell you about another not-so-obvious Venture company that stands to benefit big-time from the strength in Zinc prices, due to a currently producing mine, in today’s Morning Musings…

7. Does Doubleview Capital (DBV, TSX-V) have a new discovery on its hands at the Hat Gold-Copper Porphyry Project in northwest B.C.’s Sheslay district where a drill program continues?…more in Monday’s Morning Musings…

It’s Thanksgiving in the United States and U.S. equity markets are closed, making this a light trading day in Canada…no BMR Morning Market Musings today (returns tomorrow) but check back later today for updated Gold charts…

BMR Morning Market Musings returns tomorrow following U.S. Thanksgiving.

1. Crude Oil prices are little changed in thin trading conditions today but behind the scenes the Saudis are working feverishly to pull together a deal next week to cut OPEC production, even if it means absorbing a disproportionate share of that cut…this is happening while Saudi officials continue planning for an eventual IPO listing for Saudi Aramco, the world’s biggest Oil company, and the Saudis do need Oil to return to $50+ to keep that IPO on track…meanwhile, Russian Energy Minister Alexander Novak said yesterday that his country could revise down its 2017 Oil production plans if a global output freeze pact comes into force, effectively cutting output by 200,000–300,000 barrels per day…

2. Gold has traded between $1,180 and $1,192 so far today…as of 7:00 am Pacific, bullion is down $1 an ounce at $1,187…yesterday marked the 10th consecutive day of withdrawals of money from exchange-traded funds that buy Gold…

3. Frank Holmes on continuing rumors of a looming ban on Gold imports in India, following Prime Minister Narendra Modi’s move to ban 500 and 1,000 rupee notes  ‘It’s an old movie being replayed – they had a Gold ban before and they took it off because it didn’t work – Gold is engrained in the psyche of the people.”  

4. Strength continues in base metals…Copper has climbed another 4 cents to $2.64 as of 7:00 am Pacific…Nickel is at its highest levels in nearly a year-and-a-half, up 5 cents at $5.25, while Zinc has hit another 6+ year high of $1.24…

5. Canada Zinc Metals (CZX, TSX-V), already armed with more than $6 million in its treasury, is raising another $6 million at 40 cents (non-flow-through) and 52 cents (flow-through) per unit…the company owns 100% of 11 large, contiguous property blocks that comprise the Akie and Kechika regional projects in northeast British Columbia…its flagship Akie Project is host to the Cardiac Creek deposit, one of the premier undeveloped Zinc-Lead-Silver rich base metal projects in the world…CZX is off 2.5 cents at 42.5 cents through the first 30 minutes of trading with the Venture up 2 points at 732…

6. Purepoint Uranium (PTU, TSX-V) announced this morning that a total exploration budget for its Hook Lake JV of $4.5 million has been proposed for the remainder of 2016 and 2017, adequate to deliver approximately 11,000 m of drilling (25 holes) beginning early in the New Year…mobilization of camp and drill equipment has commenced…initial drilling will follow-up the Spitfire high-grade intercept returned earlier this year by hole HK16–53 with 10.3% U3O8 over 10 m…PTU is up half a penny at 9 cents as of 7:00 am Pacific…

7. Cannabix Technologies (BLO, CSE) continues to recover after a healthy Monday-Tuesday correction…BLO is up 4 cents at 84 cents as of 7:00 am Pacific and appears to be gearing up to mount another challenge to nearest Fib. resistance at 97 cents…meanwhile, chart patterns point to continued strength in Hit Technologies (HIT, TSX-V) which is unchanged at 9 cents as of 7:00 am Pacific…

Happy Thanksgiving to our American friends!  This is a special day to celebrate with family and friends.   

In 1621, the Plymouth colonists and Wampanoag Indians shared an autumn harvest feast that is acknowledged today as one of the first Thanksgiving celebrations in the colonies.

More than 150 years later, in October of 1777, all 13 colonies participated in a one-time “thanksgiving” celebration which commemorated the patriotic victory over the British at Saratoga. It would take a span of over 150 more years to establish Thanksgiving as Americans now celebrate it – George Washington proclaimed it a National holiday in 1789, Abraham Lincoln, in the midst of the Civil War, proclaimed the last Thursday in November in 1863, and Congress sanctioned it as a legal holiday in 1941.

TODAY’S THANKSGIVING MESSAGE

We go back 35 years to this 1981 Thanksgiving Day message from Ronald Reagan, his first as American President:

“Thanksgiving has become a day when Americans extend a helping hand to the less fortunate. Long before there was a government welfare program, this spirit of voluntary giving was ingrained in the American character. Americans have always understood that, truly, one must give in order to receive. This should be a day of giving as well as a day of thanks. 

“Searching our hearts, we should ask what we can do as individuals to demonstrate our gratitude to God for all He has done. Such reflection can only add to the significance of this precious day of remembrance.

“Let us recommit ourselves to that devotion to God and family that has played such an important role in making this a great Nation, and which will be needed as a source of strength if we are to remain a great people.”

Gold has fallen below $1,200 an ounce just in time (what a coincidence!) for thinner U.S. trading conditions the rest of the week due to Thanksgiving tomorrow…as of 11:15 am Pacific, bullion is down $22 an ounce at $1,190…it traded as high as $1,215 overnight but got whacked at 5:30 am Pacific, triggering stop-loss orders, on a report that showed new orders for U.S. manufactured capital goods rebounded much more sharply than expected in October (the report is not so strong when one delves into it)…the U.S. dollar immediately pushed to a new 14-year high, dragging bullion below $1,200 for the first time since early February and as low as $1,181…Silver has retreated 24 cents to $16.38…Copper has climbed another nickel to $2.59…Nickel has surged 12 cents to $5.22…Crude Oil is up slightly at $48.08 while the U.S. Dollar Index has added two-thirds of a point to 101.66…

Traders are now pricing in a 100% chance of a December rate increase, according to the CME Group’s FedWatch Tool…if the Fed doesn’t raise rates December 14, it never will…momentum traders will likely continue to push the U.S. dollar higher leading up to the Fed’s decision with next Dollar Index resistance at 103…however, with Gold also now in oversold territory, the set-up is for a December reversal in bullion…investors who are panicking and dumping their Gold stocks at the sight of the metal now under $1,200 are making the same mistake as those who bailed at the bottom of the Gold market around this time last year (also just ahead of a Fed rate hike)…

The Venture, a reliable leading indicator, continues to outperform Gold and the TSX Gold Index which is one of the best clues that Gold isn’t about to “fall out of bed” and is actually close to a bottom after a 12% drop from the night of the U.S. elections November 8…the Venture trading pattern since August shows a healthy corrective phase, nearing an end, within a confirmed new bull market…a continuing Venture bull market is also consistent with a sharp turnaround in Gold prices…with a rate hike expected to be out of the way soon, and the prospect of a worsening trend in U.S. budget deficits/debt, bullion will come back into favor…

Indian Prime Minister Narendra Modi.

Rumors of a looming ban on Gold imports in India continue…some Indian Gold traders have been placing bulk, short-term import orders on fears that Prime Minister Narendra Modi might act in the coming weeks against overseas purchases of the metal following his withdrawal of high-denomination banknotes as his fight against “black money” continues…the Indian government is consistently at war with its citizens over money and its control…

Holders of “black money” small bills have apparently been trying to wash their cash by trading it for bullion with reports suggesting Gold sellers have been reaping big profits from this desperation – charging up to 67% premiums to market price for Gold when buyers pay in small bills…Gold imports into India are already down sharply this year after the government moved on a variety of initiatives to reduce shipments into the country, so fears of a big drop in Gold if Modi takes further measures are exaggerated…India, however, is the world’s second biggest Gold buyer and it’s estimated that one-third of its annual demand of up to 1,000 tonnes is paid for in “black money” – untaxed funds held in secret by citizens in cash that don’t appear in any official accounts…

Copper Update

The Copper market has been in surplus for 7 of the past 10 years, so it’s encouraging that the International Copper Study Group (ISGS), an organization of Copper producing and consuming countries, recently stated that it expects world mine production to remain unchanged in 2017 after an estimated 4% increase this year…meanwhile, at a key industry conference in Shanghai last week, sentiment regarding Copper was very positive with reports of Chinese demand growth anticipated in the 3% to 5% range next year, largely due to sustained government stimulus policies…some analysts are now calling for a deficit in the Copper market as early as next year…China consumes nearly 50% of annual global Copper supply, so swings in either direction on the demand side in China can have a major influence on prices no matter what happens in the United States…

Below is an interesting update on global Copper production from an ICGS news release just 2 days ago:

“World mine production is estimated to have increased by around 5.8% (730,000 t) in the first 8 months of 2016 compared with production in the same period of 2015.  Concentrate production increased by 7.5% while solvent extraction-electrowinning (SX-EW) declined by 0.5%.  The increase in world mine production was mainly due to a 45% rise in Peruvian output that is benefitting from new and expanded capacity brought on stream in the last 2 years.  A recovery in production levels in Canada and the United States, expanded capacity in Mexico and a ramp-up in production in Mongolia, also contributed to world growth.  However, overall growth was partially offset by a 4% decline in production in Chile, the world’s biggest Copper mine producer, and a 7% decline in DRC where output is constrained by temporary production cuts.  On a regional basis, production rose by 7% in the Americas, 9% in Asia and 7% in Oceania but declined by 4% in Africa while remaining essentially unchanged in Europe.  The average world mine capacity utilization rate for the first 8 months of 2016 increased to 85% from 84% in the same period in 2015.”

Hottest Stock Market Right Now:  Saudi Arabia

If you think U.S. markets have been hot recently, take a look at Saudi Arabia’s benchmark Tadawul stock market index – it has gained more than 20% since the kingdom issued a record $17.5 billion of bonds last month…the Saudis opened the local stock market to international investors in 2015 and this year further eased the rules for foreign investments in listed companies…

Crude Oil Update

To keep their equity market hot, and to prevent another hit to their budget revenues, we’re certain the Saudis will pull out all the stops to make sure there’s an OPEC agreement next week to cut production…too much is at stake…a failure to reach a deal would not only weigh on Crude prices but also erode Saudi Arabia’s credibility as the leader of the cartel…this morning, Crude prices firmed after Iraq said it was willing to “shoulder responsibility” for some of OPEC’s planned production cuts (likely after some arm-twisting from the Saudis)…

Income from Oil sales accounts for more than two-thirds of Saudi Arabia’s budget revenues…to keep its economy ticking for now, $50+ Oil is what the Saudis really need…

Even if OPEC does find a way to cut, however, it may still find itself outmaneuvered by U.S. producers who have been waiting to ramp up output again when prices rise…this would act as a headwind against any price increases, especially if global demand doesn’t pick up…

Canopy Growth Corp. (CGC, TSX) Update

Just a week ago, medical marijuana stocks were on a “euphoric high”…then they got pummeled…circuit breakers that lit up like Christmas lights as cannabis stocks were surging were a tell-tale sign that a sharp correction was imminent…

The drop, however, has been within the normal confines of investor behavior as you can see on this chart for sector leader Canopy Growth (CGC, TSX)…

Extreme overbought RSI(14) conditions emerged recently when CGC spiked to $17.86 (just 67 cents below measured Fib. resistance), but the pullback has been quite normal with CGC retracing to a strong support zone ranging from $7.45 (Fib.) to $6.14 (Fib.)…the rising 50-day SMA, currently $6.46, falls within that range…

This morning, CGC tested the top of that support zone when it traded as low as $7.65 and then quickly reversed higher as shorts likely began to cover…going by this chart, we doubt the appetite for medical marijuana stocks has ended (even with Jeff Sessions as U.S. Attorney General)…

CGC is up $1.64 at $9.89 as of 11:15 am Pacific…

In Today’s Morning Musings…

1. CRB–commodities bull market–Venture bull market…

2. Probing Probe Metals (PRB, TSX-V)…

3. Northern Shield (NRN, TSX-V) takes aim at Sequoi – why they can’t afford to miss…

4. Daniel’s Den – technology analysts estimate the “hearables” market will be worth $16 billion by 2020…

Plus more…click here to read the rest of today’s Morning Musings and all BMR exclusive content, through a risk-free Pro, Gold or Basic package, or login with your username and password…

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

1. Gold is trading below $1,200 an ounce for the first time since early February…it was driven below that level immediately after a 5:30 am Pacific report that showed new orders for U.S. manufactured capital goods rebounded much more sharply than expected in October, driven by rising demand for machinery and a range of other equipment…it’s the latest indication of an acceleration in economic growth early in the 4th quarter and gave traders even more confidence that the Fed will hike interest rates December 14…the U.S. Dollar Index pushed higher, dragging bullion down, and is up more than two-thirds of a point at 101.65 as of 7:00 am Pacific… overbought/oversold conditions continue to build in the greenback and Gold, respectively, approaching the Fed’s December 13–14 meeting – an ideal time for a reversal in both if the Fed initiates a rate hike as expected…

2. An infill drill hole has returned 71.4 g/t Au over 8.4 m, including 127 g/t Au over 4.6 m, at Lion One Metals‘ (LIO, TSX-V) 100%-owned and fully permitted Tuvato Gold Project in Fiji…drilling of infill and extensional targets continues at Tuvato with one surface rig currently operating and one underground rig onsite and ready to be mobilized as soon as dewatering of the Tuvatu decline progresses…Lion One has 96 million shares outstanding and $35 million in cash after a financing at 92 cents in late September…LIO is up 2 pennies at 77 cents as of 7:00 am Pacific…

3.  Canadian Zeolite (CNZ, TSX-V) has reached a supplier agreement with Natural Ventures LLC, a Puerto Rico-based licensed grower and manufacturer of medical marijuana…CNZ will now be working with Natural Ventures to enhance its growing production per square foot with Zeolitic fertilizers and substrates…Natural Ventures is located near San Juan, Puerto Rico, and has an indoor growing facility of 100,000 square feet…currently there are over 60,000 registered medical marijuana patients in Puerto Rico and that number is expected to increase significantly in 2017…CNZ is up 8 cents at 78 cents as of 7:00 am Pacific…

4. Medical marijuana stocks came under renewed pressure at the opening bell this morning but are now rebounding…Canopy Growth (CGC, TSX) – updated chart in today’s Morning Musings – touched a low of $7.65 but is now up 46 cents at $8.71 as of 7:00 am Pacific…Aphria (APH, TSX-V) dropped as low as $4.05, just above its 50-day moving average, but has recovered to $4.45 (down 10 cents) after 30 minutes of trading…

5. Northern Shield Resources (NRN, TSX-V) is mobilizing a drill crew to its 100%-owned Sequoi Property in the southern Labrador Trough…5 to 7 drill holes totaling 1,000 m are planned to test 5 geophysical targets that the company has interpreted to represent large-scale Ni-Cu-PGE magmatic deposits…the targets are clustered over a deeper magnetic body believed to be an ultramafic chamber…updated NRN chart in today’s Morning Musings…Clean Commodities (CLE, TSX-V) holds a large land package contiguous to Sequoi with one of the SQ VTEM anomalies straddling the NRN–CLE border…

6. Encouraging initial drill results from Kootenay Silver’s (KTN, TSX-V) RAM target adjacent to its La Cigarra high-grade Silver resource in Mexico…results released this morning were highlighted by 166.5 g/t Ag over 6 m in CC-16–09…drilling returned continuity of Silver grades across a 400-m strike length of the 3,800-m-long RAM structure, and widespread Silver mineralization was encountered in all but 2 of the 11 holes, confirming the structure’s large-scale potential…

7. Cruz Capital (CUZ, TSX-V) has expanded its Cobalt holdings in northern Ontario, adding past producing claims to its portfolio of 4 properties in the Larder Lake mining division…Cobalt prices are up more than 10% since the beginning of October…

Gold has traded between $1,206 and $1,220 so far today…as of 10:30 am Pacific, bullion is down $2 an ounce at $1,212…Silver is up 7 cents at $16.63…Copper has climbed another 3 pennies to $2.54…Nickel is off slightly at $5.09 after a big run yesterday as base metals firmed on a pledge by China’s president to support a free-trade area in the Asia-Pacific…Crude Oil has slipped 65 cents to $47.59 while the U.S. Dollar Index has added one-third of a point to 101.09…

TDS points out that Chinese Gold demand has been strong on this price dip in the metal as reflected by a “remarkable” increase in the Shanghai Gold premium which has been as high as $15 an ounce lately. “The November drop in spot Gold prices has clearly sparked Chinese physical traders to step up their buying,” TDS says.  “So, while we think that $1,200/oz is very strong support for Gold, any dip below should be bought (just as the Chinese are doing) for better times in 2017.”

Copper is headed for its highest close since July 2015 while Zinc is at levels not seen since 2010 amid a broad rally in commodities on expectations of a pick-up in worldwide manufacturing and infrastructure spending…a renewed acceleration of global factory activity suggests commodity markets are entering a cyclically stronger environment, Goldman Sachs noted yesterday…PMI’s strengthened in all major regions in October with Goldman Sachs recommending an overweight position in commodities for the first time in 4 years…

The Venture is going to start responding to the improved outlook for commodities as soon as tax-loss selling is over and the Fed gets a rate hike out of the way December 14…that should mark the start of a powerful second wave higher in this ongoing bull market…

U.S. Stocks Hit New Record Highs

The “Trump Rally” in U.S. equities continues with the Dow breaching the 19000 level for the first time this morning…why are markets responding so well to the Trump victory?…the answer is simple – investors see a new President who’s about to unleash the U.S. economy by cutting taxes across the board, rolling back regulations and improving America’s infrastructure through government-private partnerships…

Yesterday, in a short video address, Trump said he has ordered his transition team to draft a list of executive actions he could take “on day one to restore our laws and bring back our jobs”…

“Whether it’s producing steel, building cars or curing disease, I want the next generation of production and innovation to happen right here on our great homeland, America, creating wealth and jobs for American workers” (when’s the last time you heard a “politician” talk about creating wealth as opposed to simply redistributing it?)…

“On energy, I will cancel job-killing restrictions on the production of Ameircan energy, including shale energy and clean coal, creating many millions of high-paying jobs” (Canada, rich with Oil, is going in the opposite direction thanks to climate change fanaticism and politicians who have no business sense)…

“On regulation, I will formulate a rule which says that for every 1 new regulation, 2 old regulations must be eliminated“…

Wall Street scored a trifecta of record closes yesterday as a Crude Oil rally gave stocks an across-the-board boost…the S&P 500 (2198), Dow Jones Industrial Average (18956) and NASDAQ (5368) each scored their own record close, the first time all have done so on the same day since mid-August…the 3 had previously closed at records simultaneously back in 1999…

As we’ve mentioned, Gold will yet shine during a Trump presidency because deficits and debt are both destined to push higher, at least during the first half of his term, due to tax cuts, sharp increases in defense spending and the push to improve infrastructure (current defense spending constitutes half of all federal government discretionary spending)…such an agenda also has inflationary implications…entitlements won’t be touched…the Fed, meanwhile, is likely to continue only a very gradual pace of interest rate hikes…

S&P 500 Chart – On The Way To 2600? 

This 10-year monthly S&P 500 chart is speaking very loudly – the train has left the station for next measured Fib. resistance which is 2587, nearly 20% above current levels…how long this will take to play out is anyone’s guess but it would certainly be possible for the index to reach 2600 by the end of next year…

Keep in mind, too, that the S&P’s run from a low near 1000 in 2010 to a high of 1371 in mid-2011 was also accompanied by a big surge in the Gold price, so don’t believe the mainstream media’s narrative that rising equity prices mean lower Gold prices (bullion has also demonstrated the ability over the years to move in tandem with a rising U.S. dollar)…

In Today’s Morning Musings…

1. Where to spot opportunity in the Cannabis sector sell-off…

2. Promising new Cobalt play under 8 cents…

3. DBV could score a “Hat Trick” with holes 26, 27, 28…

4. A look at one of the premier undeveloped Lead-Zinc-Silver rich base metal projects in the world in British Columbia…

Plus more…click here to read the rest of today’s Morning Musings and all BMR exclusive content, through a risk-free Pro, Gold or Basic package, or login with your username and password…

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

1. Doubleview Capital (DBV, TSX-V) is seeing something it likes a lot at the Hat Property where drilling recommenced early this month…230 core samples from drill hole H-26 (comparable to the number of samples submitted for H-23 which returned the best results yet at the property) have already been delivered to the lab for analysis, and even without assays DBV confirms that the Lisle Zone Gold-Copper porphyry deposit has been expanded as per a news release within the last 30 minutes…core photos show an abundance of chalcopyrite (including massive) and pyrite mineralization…2 holes have been completed in this fresh round of drilling while a 3rd hole is in progress…DBV remains on the cusp of a breakout above a long-term downtrend line…the stock is unchanged at 8.5 cents as of 7:00 am Pacific…

2. Volume surge in Copper producer Atico Mining (ATY, TSX-V) this morning which is up 2 pennies at 83 cents on more than 800,000 shares as of 7:00 am Pacific…ATY has reported the discovery of an outcrop of massive sulfide breccia approximately 4.5 km northwest of the El Roble mine in Colombia…El Roble has strong exploration upside and is also producing profitably, churning out 4.5 million pounds of Copper, 2,813 ounces of Gold and 8,893 ounces of Silver in Q3…that’s a 39% increase in Copper over the same period last year…

3. Odds of an OPEC production cut are looking more favorable with WTIC touching a 3-week high yesterday and holding steady this morning….the Saudis are leading an effort to cut the cartel’s production to between 32.5 million and 33 million barrels per day compared to its recent record output of around 33.8 million bdp…the OPEC meeting is a week from tomorrow (Nov. 30)…

4. Zinc prices hit a fresh multi-year high this morning of just over $1.18 a pound…a Zinc stock with momentum early this week is Canada Zinc Metals (CZX, TSX-V) which hit a new 52-week high of 48 cents yesterday…Teck and partner Korea Zinc Co. Ltd. started a drill program at the Pie-Yuen-Cirque East properties, optioned from Canada Zinc, in September, while CZX went to China last month to meet with one of that country’s largest Copper smelting companies (state-owned) which holds a 32% equity interest in Canada Zinc…

5. While U.S. equity markets are at new all-time highs this morning, the Venture is off 8 points at 740 in early trading with Gold off slightly and the cannabis sector under pressure due to more profit-taking…there was also a report this morning that Veterans Affairs Canada is set to “reduce substantially” the amount of medical marijuana for which retired soldiers can seek reimbursement…on the TSX, Canopy Growth (CGC, TSX) fell as low as $9 (its rising 20-day moving average) during the first half hour of trading…CGC has not fallen below its 20-day SMA since its big run started in late July…

6. IDM Mining (IDM, TSX-V) has drilled 13.2 m true width @ 15.2 g/t Au and 49.9 g/t Ag in an AV Zone infill and metallurgical hole at Red Mountain…in addition, the company has discovered a new zone approximately 50 m to the west in the hangingwall from the JW zone in hole U16–1210 with 8 m true width at 6.4 g/t Au and 7.4 g/t Ag…the stock is up half a penny at 14.5 cents as of 7:00 am Pacific…

7. Updated charts on WTIC, Cannabix Technologies (BLO, CSE) and Canadian Zeolite (CNZ, TSX-V) in today’s Morning Musings…BLO and CNZ are pushing toward support in early trading…