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Gold pushed to a 3.5-month high today, reaching $1,252, as the U.S. Dollar Index retreated nearly half a point…bullion is up $12 an ounce at $1,249 as of 2:00 pm Pacific…Silver also hit a 3.5-month high today, climbing firmly above $18 an ounce…Copper led base metals lower today, losing 7 cents to $2.65…Crude Oil shot up 77 cents to $54.36 on a smaller-than-expected increase in U.S. inventories reported by the Energy Information Administration, combined with greenback weakness…the U.S. Dollar Index tumbled to just below 101…in a meeting today with several manufacturing CEOs, President Trump said he wants a weaker dollar which would benefit U.S. exporters – not the first time the new President has talked down the currency in recent weeks…

Today’s performance by Gold was its best since February 6 and took the metal solidly past important resistance at $1,235…tomorrow’s weekly close will be key…interestingly, the TSX Gold Index slipped for the 4th straight session and the 7th out of 8, finishing at 219, but the Venture rebounded from yesterday’s weakness to close up 3 points at 839…

The Dow recovered from some minor early losses to finish with its 10th straight day of record finishes – its longest record-making streak in 3 decades…

Tesla (TSLA, NASDAQ) reported a mixed 4th quarter with a wider loss but improved sales…the electric automaker reported a loss of 69 cents a share, 26 cents more than expected…revenue surged 88.4% to $2.28 billion, beating estimates by $100 million…Tesla didn’t issue guidance for 2017 but did say that it expects to deliver 47,000 to 50,000 Model S and Model X vehicles in the 1st half of the year, which would be roughly a 71% increase over a year earlier…the stock finished down just over 6% today…

Today is our final day of reporting from northern Ontario’s burgeoning Cobalt Camp, hence the late edition of Morning Musings…we have collected a vast amount of material on this fascinating area, some more of which we’ll be highlighting over the next several days…Morning Musings returns Monday following travel though 7 @ 7:00 will be posted as usual tomorrow morning…watch for separate pieces from Daniel by tomorrow as well…

In Today’s Morning Musings…

1. Venture short-term chart update – correction time or time to zoom higher?…

2. Engold Mines (EGM, TSX-V) attracts speculative interest on 27-m intercept…

3. BMR visits a refinery and an adit…

4. Daniel’s Den – technology update and some Gold plays to accumulate…

SAVE 25% on our Winter Special ending tonight at midnight with a risk-free BMR Basic, Gold or Pro Subscription TODAY – and we’ll show you our proprietary strategies that have delivered unbeatable documented triple-digit returns. 

With an industry-leading 100% money-back satisfaction guarantee for new subscribers, you can enjoy unlimited access to all BMR content with a PRO membership.

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

1. Gold appears to be finally breaking out above the top of a resistance band at $1,235…as of 7:00 am Pacific, the yellow metal is up $10 an ounce at $1,247…expect a near-term challenge of the 200-day moving average in the $1,260’s…Silver has jumped 16 cents to $18.15…yesterday’s minutes of the latest Federal Reserve policy meeting further dampened expectations for an interest rate hike next month, lowering U.S. bond yields and stalling upward momentum in the dollar…

2. Oil prices are firm this morning as well, buoyed by a lower dollar and after U.S. data showed a surprise decline in inventories…WTIC is up $1.06 a barrel to $54.65 as of 7:00 am Pacific…

3. The Venture touched a nearly 30-month high yesterday, just a hair below 850, before profit taking forced a retreat to support at the EMA(8) at 837…the Index has reversed higher this morning, however, and is up 7 points at 844 after 30 minutes of trading with Oil and precious metals showing strength…as part of our Greater Cobalt Camp due diligence, BMR has entered the main adit of Castle Silver Resources‘ (CSR, TSX-V) Castle Property where “Cobalt bloom” was immediately noted in multiple areas…we’ll have more on this by tomorrow… CSR is off a penny-and-a-half at 22 cents as of 7:00 am Pacific, giving it a $6.3 million market cap for 2 important high-grade past producers in the region that have been advanced through a combined $4 million in investment since 2011…

4. Some fresh excitement for Engold Mines (EGM, TSX-V) at its 100%-owned Lac La Hache Property in British Columbia’s Cariboo…the first drill hole of EGM’S 2017 campaign, collared in an area with no previous drilling, has encountered a 27-m intercept of intensely mineralized material identified by company geologists as skarn-type Copper-magnetite…vertical drill hole G16–01 intersected 27 m of “high-grade, massive mineralization containing abundant chalcopyrite, pyrite and magnetite” within a near-horizontal skarn bed within the Nicola volcanic host rocks 1.8 km southeast of the existing Copper-Gold-Silver-magnetite resource defined at the Spout deposit…the new zone, believed to occur within the same host strata as the Spout deposits, was hit 337 to 370 m downhole…drilling continues to depth…core is being logged and prepared for assay, which will be done on a rush basis according to the company’s news release issued post-market yesterday…EGM, which has about 174 million shares outstanding, is up 6 cents at 23 cents as of 7:00 am Pacific…

5. Golden Predator Mining (GPY, TSX-V) has commenced a 20,000-m drill program at its 100%-owned 3 Aces Project in southeastern Yukon…drilling will initially focus on targets in the Spades Zone where 2016 results included a new vein discovery at depth plus 7.5 m of 33 g/t Au at the Ace of Spades…the program will expand to other areas of the property including the Clubs and Hearts Zone…investors continue to hold a good hand with GPY, up 7 cents at $1.69 as of 7:00 am Pacific…

6. Effective this morning, Cruz Capital (CUZ, TSX-V) is now Cruz Cobalt with the same trading symbol and no changes in the share structure…Cruz holds multiple Cobalt prospects in northern Ontario, B.C. and Idaho but its focus is on 4 properties, notably the Hector prospect, in the burgeoning Greater Cobalt Camp…CUZ has averaged about 3.6 million shares in daily volume over the last 14 trading sessions, a great example of the growing interest in Cobalt and the high-grade northern Ontario Cobalt district…

7. NexGen Energy (NXE, TSX) has reported strong initial results from 2017 winter drilling at its Rook 1 Project in the Athabasca Basin…several drill holes have intersected significant mineralization in previously untested areas located outside the maiden A2 and A3 resource grade shells of the Arrow deposit to the northeast, including some of the most intense mineralization encountered in the A3 shear to date….the winter program utilizing 7 drill rigs will comprise 35,000 m…NXE has cash on hand of approximately $70 million and will be issuing an updated NI-43–101 resource estimate during this 1st half of 2017…continue to keep a close eye on neighbor Purepoint Uranium (PTU, TSX-V), the operator of the Hook Lake JV where drilling continues…

Save $$$…BMR’s Winter Subscription Special ends tonight…Learn More…

The 3 most popular recent BMR articles…

Gold Will Flex Its Muscles, Push Higher

An Investor’s Guide To Who’s Who In The Greater Cobalt Camp

From Cobalt, Ontario: The Venture Week In Review And A Look Ahead

From Cobalt, Ontario, 11:45 am EST

In this morning’s subscriber-only report is a list of companies active in the Greater Cobalt Camp with comments on each one – a valuable guide for investors to understand what’s unfolding in the district and who the most important players are.  No service has this Cobalt Camp covered more accurately and extensively than the team at BullMarketRun.com, giving subscribers multiple home run opportunities in 2017.

SAVE 25% on our Winter Special ending TOMORROW, February 23, with a risk-free BMR Basic, Gold or Pro Subscription TODAY – and we’ll show you our proprietary strategies that have delivered unbeatable documented triple-digit returns. 

With an industry-leading 100% money-back satisfaction guarantee for new subscribers, you can enjoy unlimited access to all BMR content with a PRO membership.

Sign up NOW or login as a current subscriber with your username and password.

BMR Morning Market Musings resumes tomorrow following property visits today.

1. Gold has traded between $1,233 and $1,241 so far today…as of 7:00 am Pacific, the yellow metal is up $2 an ounce at $1,237…the release of Fed minutes later this morning has the potential to move the Gold market along with the Dollar Index which is currently up one-fifth of a point at 101.62…

2. This is quite humorous, actually – Goldman Sachs‘ analysts say they are “agnostic” toward Gold, looking for the price a year out to be only slightly above current levels (they must be trying to accumulate).  “On the one hand our economists expect 3 rate hikes in 2017 and see the probability of a rate hike by June at 80%…and we see U.S. long-dated real rates rising slightly, placing downward pressure on Gold,” Goldman said. “On the other hand we expect the U.S. equity rally to fade by the 2H17, and that geopolitical and political risks (i.e. European elections, potential trade frictions) and U.S. economic policy uncertainty will remain elevated and supportive for Gold during 2017.”

3. The Venture touched its highest level since late 2014 in early trading today, reaching 849.23 before retreating slightly as the high 840’s remains resistance…the Index is flat at 845 as of 7:00 am Pacific…charts show that it’s just a matter of time before the Venture busts through 850 and challenges the next major resistance around 900…the Dow and TSX are both off slightly in early trading…

4. Integra Gold (ICG, TSX-V) has reported its best-ever drill intercept from its Triangle deposit at its Lamaque Gold Project in Val d’Or – 71.6 g/t Au over 14.75 m, including 459.7 g/t Au over 2.2 m…the intercept came within the proposed bulk sample target at the Triangle C2 structure and was part of a batch of fresh results released this morning from 10,750 m of drilling (30 drill holes) completed in 2016 and 2017…assays are currently pending from over 6,100 m (26 drill holes) of diamond drilling completed at Triangle already this year…ICG is up a nickel at 84 cents as of 7:00 am Pacific…

5. Pure Gold Mining (PGM, TSX-V) has closed a $13 million financing, issuing a total of 17.6 million flow-through shares at a price of 75 cents per share…the company has devised a 2-phase work program for 2017 at its Madsen Project in the Red Lake Camp…for Phase 1, a total of approximately 70,000 m of drilling are planned, primarily at the Austin and McVeigh zones, from both surface and underground using four 4 rigs…to enable access underground, the company received approval from Ontario’s Minister of Northern Development and Mines in December to reopen the McVeigh portal…underground drilling is expected to commence by the end of next month…

6. First Majestic Silver (FR, TSX, AG, NYSE) released Q4 and full-year financial results this morning…highlights included record production of 11.9 million ounces of Silver or 18.7 million ounces AgEq in 2016, highest-ever revenues of $278.1 million U.S. (27% increase compared to 2015), and mine operating earnings of $49.2 million…net earnings for 2016 were 5 cents per share U.S. vs. a loss of 84 cents per share in 2015…the stock is up 16 cents at $13.01 as of 7:00 am Pacific…

7.  Marathon Gold (MOZ, TSX) is up 2 cents at $1.02 in early trading following yesterday’s updated resource estimate for its promising Valentine Lake Gold Project, an emerging open-pit prospect in central Newfoundland with attractive grades and rapidly increasing tonnage…we’ve been following this story closely since the middle of last year and Daniel will have fresh updates this week…

No BMR Morning Market Musings today due to property site visits, but a special report from Cobalt, Ontario, will be posted shortly…

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BMR Morning Market Musings From Cobalt, Ontario

From Cobalt, Ontario: The Venture Week In Review And A Look Ahead

Capitalizing on Cobalt (Part 3) – Overlooked Opportunities!

Eskay Heart of Gold Camp Update and the “Q” vs. the “Ovoid”

Gold has traded between the mid-$1,220’s and nearly $1,240 so far today…as of 10:15 am Pacific, bullion is up $3 an ounce at $1,237…Silver has added 5 pennies to $18.00…Copper and Nickel are off slightly…Crude Oil has jumped 94 cents to $54.34 while the U.S. Dollar Index has gained almost half a point to 101.41…

Note:  With Kitco site down most of today until this evening, we experienced technical issues with our live commodity chart feeds which interrupted the look of the BMR homepage…we apologize for the inconvenience and technicians continue to address the situation…

Investor demand for Gold can be seen in the world’s largest Gold-backed exchange-traded fund, SPDR Gold Trust, holdings of which have risen by more than 5% to 27.044 million ounces since January 31…meanwhile, U.S. stock markets continue to hit record highs and the greenback has also firmed up after its worst January in 3 decades…that makes Gold’s resilience all the more impressive…on the radar of Gold investors is President Trump’s address to Congress on February 28 which will offer more details on the new administration’s fiscal agenda…

Great sign for the commodities sector – mining giant BHP Billiton (BHP, NYSE) reported soaring 1st half earnings today and also raised its dividend…the company earned $3.2 billion in underlying 6-month profit, a 687% year-over-year gain, thanks to higher prices for Iron Ore, Copper and Crude Oil…that topped views based on the consensus according to Dow Jones and Bloomberg…revenue jumped 20% to $18.8 billion…

Iron Ore, which surged more than 80% last year, hit a new 30-month high yesterday, fueled by strong Chinese demand…BHP warned that prices are likely to moderate somewhat along with Chinese economic growth, but the miner still struck an optimistic tone for the overall commodity sector…

Oil Update

Oil prices strengthened today after OPEC Secretary General Mohammad Barkindo talked up the recent production cuts, saying Oil inventories would decline further this year…meanwhile, money managers now hold the highest volume of net long Brent futures and options on record, data showed yesterday, betting on higher prices to come…net long U.S. Crude futures and options positions are also at a record high…

In Today’s Morning Musings…

1. Intrigue surrounds CobalTech (CSK, TSX-V) while Paul Matysek gives the northern Ontario Cobalt Camp an even higher profile…

2. Is there something incredible building in Silver?…

3. Another gem under a dime?…

4. Daniel’s Den – opportunities in Oil and Tin stocks…

SAVE 25% on our Winter Special ending Thursday, February 23, with a risk-free BMR Basic, Gold or Pro Subscription TODAY – and we’ll show you our proprietary strategies that have delivered unbeatable documented triple-digit returns. 

With an industry-leading 100% money-back satisfaction guarantee for new subscribers, you can enjoy unlimited access to all BMR content with a PRO membership.

Sign up NOW or login as a current subscriber with your username and password.

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

1. Gold is off just $1 an ounce at $1,234 as of 7:00 am Pacific after trading as low as $1,226…hedge funds took profits in Gold for the first time in 3 weeks as prices hit nearly a 3-month high, according to the latest trade data from the Commodity Futures Trading Commission…Silver is up slightly at $17.97 while base metals are under some minor pressure across the board…

2. Gold has been resilient this morning while Crude Oil has surged $1 a barrel to $54.40 despite a strong U.S. Dollar Index which has gained half a point to 101.47 ahead of tomorrow’s release of Fed minutes…

3. The Venture this week will once again attempt to break out above key resistance, the 2016 high of 848 achieved in August prior to the market’s 16% correction…the Venture is flat at 844 after 30 minutes of trading…Cobalt plays are among the early gainers and volume leaders, including Cruz Capital (CUZ, TSX-V) which has hit a new high, while CobalTech Mining (CSK, TSX-V) has added to the intrigue as it has been halted pending news…Cobalt Power (CPO, TSX-V) is up half a penny at 14.5 cents while LiCo Energy Metals (LIC, TSX-V) has also added half a penny to 18.5 cents…

4. Based on our boots-on-the-ground research, Castle Silver Mines (CSR, TSX-V) is one of the most compelling opportunities in the Greater Cobalt Camp with a market cap of only $6.5 million at 21.5 cents…more money ($4 million) has been invested in CSR’s past producing properties over the last 6 years than any properties in the district…just 3 weeks ago, CSR reported Silver and Cobalt recoveries of 98.5% and 70.5%, respectively, and an extremely high concentrate grade of 11,876 g/t Ag and 10.5% Cobalt, using a simple flotation process…historically, over 7 million ounces of Silver at a staggering 171 oz/ton and 140,000 pounds of high-grade Cobalt were pulled from what is now the Beaver Property (contiguous to the prolific Temiskaming) which consists of 20 acres of patented claims that took several years to acquire…meanwhile, CSR has immediate access to the extensive underground workings at the Castle Silver-Cobalt mine in Gowganda which was an Agnico Eagle significant producer until 1990 when Silver prices plunged…

5. Marathon Gold (MOZ, TSX) has announced a big increase in resources at its Valentine Lake Property in central Newfoundland…Measured and Indicated resources have jumped by 31% to 1.4 million ounces at a grade of 1.9 g/t Au while Inferred resources have tripled to 766,000 ounces at a grade of 2.2 g/t Au…93% of the Measured and Indicated resource occurs in the open-pit category…the significant growth in resources at Valentine Lake is attributed to the success of recent drilling at the Marathon deposit where a 40 to 100-m wide, near vertical corridor of alteration and mineralization is open along strike and to depth…this corridor hosts flat laying, en-echelon quartz-tourmaline-pyrite-Gold bearing vein arrays which will continue to be the focus of the 2017 drilling campaign to further increase tonnage…MOZ is off 3 pennies at $1.00 as of 7:00 am Pacific…

6. Richmont Mines (RIC, TSX) has achieved record company-wide production of 104,500 ounces of Gold for 2016, leading to net earnings of $12.5 million CDN or 20 cents per share, an 84% increase over 2015…the solid performance was driven by production from the cornerstone Island Gold Mine of 24,000 ounces for the 4th quarter and 83,300 ounces for 2016, a 51% increase over 2015, exceeding revised production guidance for the year…Richmont ended 2016 with a strong cash balance of $75.1 million CDN which is expected to fully support the company’s organic growth strategy…RIC has slipped 47 cents to $11.70 on this morning’s news with Gold producers under some minor pressure…

7. Uranium play Anfield Resources (ARY, TSX-V) is boosting its balance sheet, announcing this morning that it has arranged a fully subscribed, non-brokered private placement for 15 million units at 10 cents per unit for a total equity raise of $1.5 million…we’ll have an updated ARY chart in today’s Morning Musings…

The 3 most popular recent BMR articles…

From Cobalt, Ontario: The Venture Week In Review And A Look Ahead

Capitalizing on Cobalt (Part 3) – Overlooked Opportunities!

Eskay Heart of Gold Camp Update and the “Q” vs. the “Ovoid”

From Cobalt, Ontario

TSX Venture Exchange and Gold

The Venture has now posted 8 straight weekly gains and very slightly and briefly topped last summer’s 848 high intra-day Friday before pulling back to close at 844, an 8-point advance from the previous Friday.  Don’t forget, the upcoming trading week will be a shortened one as Canadian and U.S. markets are both closed Monday for Family Day in most of Canada and Presidents’ Day for our friends in the U.S.

It’s truly amazing that the Klondike Gold Rush has been so thoroughly embedded in Canada’s historical conscious yet the Cobalt Silver Boom of the 1900’s – in many ways so much bigger than the Klondike Gold Rush – is largely unknown, another example of how the Toronto/Ottawa establishment likes to snub northern Ontario.

The Cobalt area between 1903 and 1966 officially produced over 440 million ounces of Silver (that’s just what was documented, local experts we’ve spoken to in recent days believe the unofficial figure is closer to 750 million), making it the 3rd-largest Silver producing region in the entire world during that time.  The trading frenzy in mining shares spread to Wall Street.  As the birthplace of Canadian hard rock mining, Cobalt’s impact has been profound and widespread.  Now the region is about to impact the country and the world in different ways, though one must not forget there’s still plenty of high-grade Silver to be found in these parts (and perhaps a major Gold and/or base metal deposit to be discovered as well). The geology is prolific and vast areas are severely under-explored.

A new “buzz” is now developing around the historic mining town of Cobalt, Ontario, with a current population of 1,500. Nearby communities such as New Liskeard and Haileybury bring the area population to at least 15,000.

Understanding the basics of the dramatic history of the Cobalt Camp is critical because that provides answers for what’s happening today and how the future may unfold, creating enormous wealth-building opportunities for investors.   The catalyst for the major revival of this Camp, now in progress, is Cobalt – the now highly strategic metal that was largely “passed over” in the 1900’s in the frantic search for high-grade Silver.  Technological advances are creating hot new demand for Cobalt, and global supply is rather tenuous.  The bottom line is that the world needs more Cobalt, and the best place to find it and mine it is in northern Ontario given the region’s advantages in terms of grades, potential supply, infrastructure and historic activity.  Investors who grasp what’s happening could make fortunes in the months ahead as the Cobalt Rush intensifies – and it will, mark our words.  It will intensify big-time.

BMR subscribers will get exclusive reports on the best opportunities in this prolific Camp in the days ahead – no other service can compete with our “boots on the ground” coverage and the valuable information that we’re uncovering.

SAVE 25% on our Winter Special ending Thursday, February 23, with a risk-free BMR Basic, Gold or Pro Subscription TODAY – and we’ll show you our proprietary strategies that have delivered unbeatable documented triple-digit returns. 

With an industry-leading 100% money-back satisfaction guarantee for new subscribers, you can enjoy unlimited access to all BMR content with a PRO membership.

Sign up NOW or login as a current subscriber with your username and password.