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

1. Gold dipped as low as support at $1,180 this morning before bouncing higher…bullion is off $2 an ounce at $1,186 as of 7:00 am Pacific and is headed for its first weekly loss of 2017…the yellow metal got only a minor boost after disappointing 4th quarter U.S. GDP was released…the Dollar Index is flat at 100.49…

2. U.S. economic growth slowed more than expected in the 4th quarter as a plunge in shipments of soybeans weighed on exports, but steady consumer spending and rising business investment suggested the economy would continue to expand…GDP increased at a 1.9% annual rate, the Commerce Department reported this morning in its first estimate of 4th quarter growth…that was a sharp deceleration from the 3.5% clip logged in Q3…as a result, the economy grew only 1.6% in 2016, the weakest pace since 2011 and Democrats blame the Russians for losing Congress and the White House…

3. Significantly, the Venture has shrugged off the drop in Gold this week and has a good chance to close above 800 on a weekly basis for the first time since late September…the Index is up 2 points at 803 through the first 30 minutes of trading…the Dow and TSX are both relatively flat…

4. Golden Predator Mining (GPY, TSV-V) has hit a new multi-year high in early trading with the stock up 3.5 cents at $1.245 as of 7:00 am Pacific…GPY reported multiple high-grade intercepts last week from 2016 drilling at its 3 Aces Project in southeastern Yukon where it begins a new 20,000-m drill program next month…

5. K92 Mining (KNT, TSX-V) released the latest results this morning from its continuing grade-control drilling program at its high-grade Kainantu Gold mine in Papau New Guinea, and they included 8.2 m @ 33 g/t Au…K92 is currently ramping up Kainantu toward commercial production…approximately 80% of the holes completed to date have recorded multiple high-grade intersections indicating the presence of parallel to sub-parallel high-grade veins…KNT is up 4 cents at $1.01 as of 7:00 am Pacific…

6.  It has been a strong week for Clean Commodities (CLE, TSX-V) which holds a large Uranium land package in the Athabasca Basin adjacent to NexGen Energy’s (NXE, TSX) world class Arrow deposit…CLE is steady at 9 cents in early trading but has climbed nearly 30% this week on much higher than usual volume…we’ll update a very encouraging CLE chart in today’s Morning Musings…

7. The runway Venture winner this week has been software company Alphinat (NPA, TSX-V) which is up another 4.5 cents in early trading to 18 cents after starting the week at just 4 cents…a few days ago the company, which has only 50 million shares outstanding, reported a profit of $260,000 for the quarter ended November 30…

Check back later today for separate postings on BMR. Morning Market Musings returns tomorrow morning following Roundup in Vancouver.

1. Gold has traded between $1,185 and $1,200 so far today, touching a 2-week low…as of 7:00 Pacific, bullion is down $11 an ounce at $1,189…a stronger U.S. dollar this morning and reports of weak demand out of Asia have been contributing factors to Gold’s weakness, in addition to some technical pressures…strong support exists between $1,180 and $1,195, however…despite the greenback’s strong bounce higher today, overall technical conditions in the Dollar Index have deteriorated significantly since last month…

2. Crude Oil prices have jumped by more than $1 to nearly $54 a barrel this morning…there could be a shortage of Oil supply by 2020 if investment flows continue at their current rate, Saudi Arabia’s energy minister Khalid  al-Falih warned this morning in an interview on CNBC…he said prices today are “comfortable” but he worries about future investment…

3. The 3 major U.S. indexes closed at all-time highs yesterday with the Dow breaking above 20,000 for the first time…that momentum has continued into this morning with the Dow up another 40 points to 20,108 as of 7:00 am Pacific…the TSX and Venture are both flat (Venture is showing resilience in the face of some weakness in Gold, always a good sign)…

4. A “game-changing” deal for Eskay Mining (ESK, TSX-V)…the company has signed a Letter of Intent with an unnamed “senior” mining company to option up to 60% of its SIB Property (48 sq. km) in the Heart of Gold Camp, contiguous to Eskay Creek, in exchange for a work commitment of $11.7 million over the next 3 years including $3.7 million in 2017 (plus $300,000 in a private placement at 20 cents)…the SIB represents just 9.1% of ESK’s total land package…the deal is subject to a number of conditions including St Andrew Goldfields, a wholly-owned subsidiary of Kirkland Lake Gold (KL, TSX), waiving its right of first refusal…previous drilling and recent work and studies carried out by ESK suggest the SIB is highly prospective for another Eskay Creek-type discovery…ESK is up 2 cents at 22 cents as of 7:00 am Pacific…

5. Benton Resources (BEX, TSX-V) hit a new multi-year high of 13 cents in early trading today…last week, the company reported that it has received all required permits for exploration work that that would include line cutting, geophysics, prospecting, geological mapping, trenching and diamond drilling for its newly-acquired Bedivere Lake Gold Project located 130 km west of Thunder Bay…sampling has shown that the property is prospective for high-grade Gold while recent follow-up to an airborne magnetic anomaly uncovered mineralized mafic to ultramafic rocks that could host Ni-Cu-PGE mineralization…

6. Arizona Mining (AZ, TSX) continues its strong push higher to begin 2017 after a December correction…the company reported additional assay results this morning from its 100%-owned Hermosa Project in Arizona and they included a 45-foot zone from a lower carbonate sequence (significant) which returned 12.7% Zn, 31.7% Pb and 10.4 opt Ag within a broader 124-foot interval grading 7.4% Zn, 14.8% Pb and 5.2 opt Ag…AZ is up 6 cents at $3.10 as of 7:00 am Pacific…

7.  Wesdome Mining (WDO, TSX) is 22 cents higher at $2.67 through 30 minutes of trading after releasing wide, high-grade intersections from underground drilling at its Eagle River mine in Wawa, Ontario, including 28.7 g/t au (19 g/t cut) over 20.7 m true width in drill hole 844-E-27…Duncan Middlemiss, President and CEO, commented, “These results contain potential widths of up to 20 m and are unprecedented at Eagle River. The current proximity of these intercepts to mine infrastructure coupled with the sheer volume of high-grade mineralization will potentially have near to mid-term positive production implications. Furthermore, the presence of these structures give rise to the possibility of additional zones of similar size and grade, as well as bulk mining opportunities at Eagle River.”

Check back later today for separate postings. BMR Morning Market Musings returns Friday following Roundup in Vancouver.

1. Gold is under pressure this morning as U.S. equities surge and following a prediction by the World Bank that bullion will lead a decline in the precious metals complex this year with a loss of 8%…the institution is calling for an average 2017 Gold price of $1,150…bullish contrarian indicator!…it seems investors are forgetting the horrendously inaccurate Gold forecast issued by the World Bank in the middle of 2015.  “Downside risks to the forecast are stronger economic growth and faster-than-expected increases in U.S. interest rates. Upside risks include geopolitical tensions, stronger demand in China and India, delayed rates hikes, and mine supply shortfall,” the World Bank said in its report…

2. For what it’s worth, the World Bank is more bullish on the base metals sector this year…it expects prices increasing 11% in 2017 due to growing demand and tighter supplies…

3. U.S. equities rose to all-time highs this morning after a series of executive orders from President Trump increased bullish sentiment on Wall Street…the Dow broke the 20,000 level for the first time shortly after the open and is up 120 points at 20,033 as of 7:00 am Pacific…Boeing and Caterpillar have contributed most of the most gains…in Toronto, the TSX has added 36 points while the Venture has slipped 5 points to 802 as of 7:00 am Pacific with Gold and Oil both weak this morning…

4. Marathon Gold (MOZ, TSX) has made continued success at intersecting wide intervals of strong Gold grades in the first 2 drill holes of its 2017 drilling campaign at the Marathon deposit in the Valentine Lake Gold Camp…best intercepts include 3.4 g/t Au (uncut) over 50 m in MA-17–159 (88 m to 138 m), another 50 m grading 2.6 g/t Au deeper in the hole (161 m to 211 m) followed by 13 m @ 7.5 g/t Au between 258 m and 271 m…drill hole MA-17–158 returned 1.5 g/t Au over 73 m including 6.4 g/t Au over 7 m and 3.5 g/t Au over 6 m in MA-17–158…MOZ is up 2 pennies at 78 cents as of 7:00 am Pacific…

5. Atlantic Gold (AGB, TSX-V) has hit near-surface high-grade Gold, including 13 m @ 21.8 g/t Au (includes 1 m @ 263 g/t Au), in several of the first 8 holes drilled 300 m south of its Fifteen Mile Stream deposit in Nova Scotia…AGB features Canada’s only open-pit Gold project which is permitted, financed and in construction…AGB is off a penny at 96 cents as of 7:00 am Pacific…

6. Calibre Mining (CXB, TSX-V) has commenced its first 2 drilling programs of 2017 on the Borosi concession, northeast Nicaragua…the first drill program is at the Eastern Borosi Project, which is being funded by Calibre’s partner IAMGOLD (IMG, TSX), and the 2nd program is on the 100% Calibre owned Monte Carmelo Gold Skarn Project…

7.  Canadian Zeolite (CNZ, TSX-V) is up slightly in early trading after announcing that it has reached an MOU with a California-based grower and distributor of avocados and citrus products…under the terms of the MOU, CNZ will supply the grower with Zeolite, as well as specifically developed Zeoponics and Zeolitic substrates, to be used as growing media to nhance the overall health of the plants while also significantly reducing the amount of water consumption…

9:15 pm Pacific

The Venture recovered from some minor weakness in the morning to finish at another post-September high (807) at the close, further confirmation the new uptrend that started December 20 at the correction low of 711 is gaining traction.  The Index is now up 5.9% for January, on pace for one of its best starts to any year.

At this time in 2016, the Vancouver Resource Conference and Roundup were so empty, you could have fired a cannonball down the aisles and no one would have been hit!  Different story this year – there was a big jump in attendance at the just-completed Resource Conference, while Roundup (ends Thursday) has also been much busier with standing room only at some of the presentations.   There is genuine excitement among many retail investors and industry types.  Typical of a bull cycle pattern, confidence among investors and CEO’s is now solidifying about 1 year into the actual bull market.

A great indication that there’s a lot of money to be made in the junior resource sector in 2017 is the fact that Jeff Kyba, the long-time highly respected geologist for the B.C. government, has left his government position for his own consulting business.  And he has just been retained by Tudor Gold (TUD, TSX-V), one of the Heart of Gold Camp companies we’ll be following closely throughout 2017.  Kyba is a STAR in the industry and his contributions on a bigger scale to this prolific district are going to be huge.

Tonight, an updated Venture chart, some stocks “on the move” and how subscribers can line up some more profits.

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Check for more postings later today on BMR. BMR Morning Market Musings returns Friday following Roundup in Vancouver.

1. Gold has traded between $1,211 and $1,218 so far today…as of 7:00 am Pacific, bullion is down $1 an ounce at $1,217…yesterday, U.S. Treasury Secretary nominee Steven Mnuchin suggested the new administration believes the dollar is too high, following up on comments last week by President Trump that sent the greenback sharply lower…the Dollar Index is flat at 100.07 as of 7:00 am Pacific…base metal prices are firm this morning with Copper and Nickel leading the way while Zinc hovers near a multi-year high at $1.27 a pound (Daniel has an update on 3 Zinc exploration plays later today)…

2. Oil prices are back above $53 a barrel this morning as OPEC and non-OPEC producers start to “talk up” their recent output cuts and an “unprecedented depth of cooperation”…of the almost 1.8 million barrels per day (bpd) they had agreed to remove from the market starting on January 1, 1.5 million bpd has already been trimmed…rising U.S. drilling activity and production has been acting as a bit of a counterweight this month against Oil prices, but Crude also needed to consolidate its sharp gains from December… 

3. NBC News is reporting this morning that President Trump will sign an executive order today that will make it easier for TransCanada to construct the Keystone XL pipeline and for Energy Transfer Partners to build the final uncompleted portion of the Dakota Access Pipeline…

4. After closing at its highest level yesterday since September 27, the Venture is flat at 805 as of 7:00 am Pacific…the TSX has added 22 points while the Dow is up 23 points…we’ll have an updated Venture chart in a separate posting later today (no regular BMR Morning Market Musings today due to Roundup), showing the second major breakout during this new bull market cycle…

5. Cordoba Minerals (CDB, TSX-V) hit a new multi-year high of $1.32 this morning in follow-up to yesterday’s news of a bonanza-grade intersection at its San Matias Project in Colombia…drill hole ACD036 at Alacran returned a 0.90 m section of 4,440 g/t Au plus 10.25% Cu, 24.70% Zn and 347 g/t Ag…the high-grade vein is similar to carbonate base metal (CBM) vein systems found globally…earlier this month, CDB issued a maiden resource for its Gold-Copper deposit at Alacran which is surrounded by multiple other targets…CDB is up a penny at $1.30 as of 7:00 am Pacific (nearest Fib. resistance is in the $1.50’s after a confirmed breakout above $1)…

6. Another junior with a confirmed breakout is Tinka Resources (TK, TSX-V) which touched its highest level yesterday (34 cents) in nearly 2 years…TK is off a penny at 31 cents as of 7:00 am Pacific…the company is preparing to commence a major drill program at its 100%-owned Ayawilca Project, a large Zinc sulphide system in the world-class central Peru Zinc-Silver belt…

7.  On the CSE, MGX Minerals (XMG, CSE) hit a new all-time high of 91 cents in early trading after yesterday’s news that it has formed PetroLithium Corp. of America, a 100%-owned U.S. subsidiary of the company…MGX has mandated PetroLithium Corp. to acquire Oil field assets, including brine-bearing Lithium resources, Oil wells, and existing Oil and gas infrastructure…meanwhile, MGX continues to work with partners LurLucid Treatment Solutions Inc. and the Saskatchewan Research Council on multiple fronts pertaining to the company’s recent extraction of Lithium from heavy Oil waste water…