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June 5, 2017

7 @ 7:00 From Cobalt, Ontario…

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

1. Gold hit a 6-week high this morning, buoyed by technical momentum, geopolitical events including another Islamist terrorist attack, and disappointing U.S. jobs data on Friday that may have dimmed the prospects for further U.S. interest rate hikes during the 2nd half of the year…Gold has traded between $1,279 and $1,284 so far today and is up $2 an ounce at $1,280 as of 7:00 am Pacific…Silver is up slightly at $17.58…India will be rolling out a new 3% nationwide sales tax on Gold and Gold jewelry as soon as July 1, according to the country’s GST Council which met during the weekend to finalize the numbers…the new bracket will force consumers to pay a total of 13% in taxes on Gold jewelry…this number consists of a 10% import duty and 3% GST…right now buyers pay around 12.5%….India’s Gold imports in May surged 4-fold from a year ago to 103 tonnes as jewellers increased purchases to replenish inventory and stock up ahead of the new national sales tax…

2. Saudi Arabia and 3 other Arab countries have severed diplomatic and some commercial links with Qatar, a dramatic move today that exposes divides among U.S. allies in the Middle East over policy toward Iran and the role of political Islam in the region…in cutting ties, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt accused the tiny Gulf state of backing terrorism and meddling in their affairs…the step marked a sharp escalation of a rift between the countries that surfaced late last month when Qatar’s state-controlled news agency carried pro-Iranian comments that it later said were the result of a hack…Iran has spoken up, doing what most like to do – they’ve blamed President Trump…with a production capacity of about 600,000 barrels per day (bpd), Qatar’s Crude output is one of OPEC’s smallest (it accounts for only about 2% of the cartel’s output)…there are 2 ways to view today’s developments…tension within OPEC clearly has the potential of weakening the Oil supply deal, aimed at supporting prices, or the opposite could occur – increased tensions could lead to a broader Middle East conflict that ultimately builds a risk premium into Crude…Qatar, by the way, is the world’s largest exporter of liquefied Natural Gas, accounting for about one-third of global supply…WTI prices are 68 cents lower at $46.98 as of 7:00 am Pacific…

3. The World Bank has maintained its forecast that global growth will improve to 2.7% this year, citing a pickup in manufacturing and trade, improved market confidence and a recovery in commodity prices…the updated report marked the first time in several years that its June forecasts were not reduced from those published in January due to rising growth risks…the World Bank said advanced economies were showing signs of improvement, especially Japan and Europe, while the 7 largest emerging markets – China, Brazil, Mexico, India, Indonesia, Turkey and Russia – were again helping to drive global growth…

4. The Venture is up 1 point at 802 as of 7:00 am Pacific…the TSX has slipped 58 points while the Dow has gained 8 points through the first 30 minutes of trading…Deveron UAS (DVR, CSE) has just reported that it has closed the 2nd and final tranche of its previously announced financing, raising an additional $716,000 for total gross proceeds of just over $2 million…Deveron is scaling up its fleet of drones as it continues to dominate and lead innovation in drone-data-related precision agriculture in Canada…Granada Gold (GGM, TSX-V) is showing signs of breaking out now that Secutor Capital appears to have exhausted its supply of flow-through paper from last fall’s financing while GGM is also now armed with updated NI-43–101 resource and Block Model estimates for its multi-million ounce deposit near Rouyn-Noranda…

5.  White Gold (WGO, TSX-V) has commenced initial RAB drilling programs on its Dime and Loonie properties in the Yukon…an estimated 50 to 60 drill holes, representing approximately 5,000 to 6,000 m of drilling, are planned between the two properties over a period of about 4 weeks…the programs will utilize on-site XRF analysis and downhole optical televiewer surveys paired with 3D modelling software for daily geologic, geochemical and structural interpretation to guide the drilling…these drill holes comprise the first phase of a 3-phase drilling program planned over 6 properties by the company in 2017…

6. Atac Resources (ATAC, TSX-V) has commenced diamond drilling at the Carlin-type Conrad Gold zone within its wholly-owned Osiris project at the 1,742 sq. km Rackla Gold property in the Yukon…as a result of the recently announced Barrick Gold earn-in agreement, the Rackla Gold Property has been divided into 3 projects:  1) Osiris, located at the east end of the property, covers 302 sq. km and hosts the Osiris, Conrad, Ibis and Sunrise drill-confirmed Carlin-type Gold discoveries; 2) Rau, located at the west end of the property, covers 660 sq km and hosts the Tiger Gold Deposit in addition to numerous other early-stage carbonate-replacement style Gold and base metal targets; and 3) Orion, located in the central portion of the property, covers 780 sq. km and is the only project subject to the Barrick earn-in agreement…Orion hosts the Orion and Anubis drill-confirmed Carlin-type Gold discoveries in addition to 8 other early stage Carlin-type Gold prospects…

7.  Biorem (BRM, TSX-V) reported this morning that has received several new orders totaling $5.4 million for air emission abatement projects in North America…the Company’s 2017 order bookings to date total $12.5 million compared to $7.6 million of orders booked in the 1st half of 2016, and the order backlog of $24 million is $6.9 million or 40% greater than the order backlog of $17.1 million on June 30, 2016.  “Our business development and sales initiatives continue to bear fruit as we approach the mid point of 2017,” said Derek S. Webb, President and Chief Executive Officer. “We have focused our attention on providing technical and engineering services to our existing clients in an effort to expand the scope of supply for high profile projects. This approach is resonating with consultants and municipalities who need to have a reliable long term solution. With these latest orders, the company’s order backlog stands at approximately $24 million, providing great revenue visibility for the next 4 to 6 quarters.”  Biorem is a leading clean technology company that designs, manufactures and distributes a comprehensive line of high-efficiency air emissions control systems used to eliminate odors, volatile organic compounds and hazardous air pollutants…

The most popular recent BMR articles…

Developments in Cobalt Country

How The Eskay Heart of Gold Camp Will Help Drive The Coming Venture Up Wave (Part 1)

“Beyond the Supercycle”:  15 Predictions About The Future Of Natural Resources

Tech-Savvy Junior Captures Cobalt Camp Advantage

Venture Update – The Surprise That’s Just Around The Corner!

June 4, 2017

Sunday Sizzler Report From Cobalt, Ontario

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

From Cobalt, Ontario

TSX Venture Exchange and Gold

The Venture’s 3-week winning streak was snapped with an 8-point loss last week, though several individual plays we follow made powerful moves including Jaxon Minerals (JAX, TSX-V), up 45%, PyroGenesis Canada (PYR, TSX-V), up 34%, and Critical Elements (CRE, TSX-V), up 30.5%.

With the price of Cobalt touching its early 2017 high of $25.63 last week – the best levels in nearly a decade – Cobalt stocks have turned the corner after a spring correction that sent most of them to their rising 200-day moving averages (SMA’s) or a little lower.

Below is a fresh 1-year chart that shows how Cobalt made a robust move from the beginning of 2016 into early 2017, consolidated during the spring between $24 and the $25.60’s, and could now be ready to begin a new leg to the upside – especially considering how Cobalt stocks  behaved last week.

Lithium-ion battery powered transportation and communication are underpinning what is likely the most powerful bull market ever witnessed in Cobalt.

Northern Ontario is the Heart of Canadian Cobalt Country with world class grades and vast untapped Cobalt potential in quartz carbonate veins that were overlooked in favor of exceptionally high-grade Silver in the 1900’s when the Gowganda-Cobalt-Silver Centre district gave birth to Canadian hard rock mining and was the world’s 3rd most productive Silver region as late as the 1960’s.

Dr. Andreas Rompel, Cobalt Power President and CEO.

Summer programs have started in earnest here in northern Ontario.  Last week’s big movers were CobalTech (CSK, TSX-V), up 54.5%, First Cobalt (FCC, TSX-V), up 40.4%, Cruz Cobalt (CUZ, TSX-V), up 25.7%, and Cobalt Power (CPO, TSX-V), up 24%.  Castle Silver Resources (CSR, TSX-V), up more than 250% this year, held steady at 26 cents but is poised for a fresh advance.

BMR research shows that the strongest of the above 5 companies, fundamentally, are CSR, First Cobalt and Cobalt Power, and CPO is also the first to commence drilling in the Camp as it takes aim at its promising Smith Property, an extension of the past producing Deer Horn mine.  CPO closed at 10 cents Friday for a very modest market cap of less than $6 million.

Dr. Andreas Rompel, President and CEO of Cobalt Power and an expert in structural geology, oversaw a very astute and systematic exploration program prior to the start of drilling at Smith.  Ground and airborne geophysics, extensive mapping and 3-D modelling were used to delineate the targets that are being tested during this nearly 2,000-m campaign that could continue for at least another month.  Drilling is focusing on patented claims in the northwestern section of the property, an obvious but under-explored extension of the Deer Horn. 

From the early 20th century to the mid-1960’s, Deer Horn produced a reported 11 million ounces of Silver and 100,000 pounds of Cobalt (like elsewhere, the Cobalt was targeted only in the sense of leading miners to the high-grade Silver).  Abundant data have demonstrated that the adjoining Smith Property contains the southeast extension of the veins previously mined at Deer Horn.  All the necessary geological components of accepted mineralization models have been identified at Smith.

Highlights of work carried out last year included 6 samples averaging an impressive 0.50% Co from a muck pile (loose ore that has been fragmented as a result of drifting along the veins) originating from historic underground workings.  The muck pile covers an area approximately 50 x 20 m with a thickness of 3 to 4 m and is estimated to contain 5,000 to 10,000 tonnes of crushed rock.  The samples are considered to be representative of the bulk of the material within the pile, which is important.  In terms of a mining head grade, 0.50% Co would be fantastic.

“These grades compare favourably with those found at top Cobalt-producing mines worldwide,” Rompel pointed out.  “Copper and Nickel grades were promising as well and, along with Silver, may be converted into additional credits.”

In addition, 2 rock samples collected from a vein uncovered while clearing vegetation around the historic shaft assayed a whopping 7.9% and 3.8% Co.

The Cobalt Power Group should give investors a good shot at success this summer.

CSR – First To Access Cobalt Underground

Extensive BMR research shows that despite its big advance already this year, the most undervalued play in the broader Cobalt Camp in northern Ontario remains Castle Silver Resources (CSR, TSX-V), a view that’s supported by numerous facts including the company’s currently over-subscribed private placement that has poured another $1 million into its treasury.

CSR closed Friday at 26 cents for a market cap of only about $10 million, well below that of First Cobalt, CobalTech and Australian-listed Cobalt One even though it has a technology advantage (Re-2OX process), First Nations agreements, underground access (the only company in the region with the current ability to go underground), an imminent major drill program, and a lot of high-grade Silver to go after (Silver is going to be critical to the economics in this Camp) in addition to Cobalt. 

A view from the entrance of the CSR mine site near Gowganda, northern Ontario. Fenced-in area is the main adit. BMR has gone underground into the first level of the mine which features 11 levels and covers a footprint of 2,400 feet east-west, 1,500 feet north-south, and extends to a depth of 850 feet.

CSR quietly but effectively developed its Cobalt and Silver assets in this Camp well ahead of when it began trading publicly in 2015.  Significantly, it has 100% ownership of Re-2OX, a proprietary hydrometallurgical process, developed in conjunction with the National Research Council, that will convert material sourced from the Castle mine into high purity, client-specific Cobalt powders for test marketing this year with end users in the battery sector.  The first in a series of bulk samples was extracted from the Castle mine in recent days.

And here’s something fascinating:  Apple, like other technology companies, has obvious need for Cobalt and Lithium.  What Apple has been emphasizing recently is its increased interest in recycled metals.  That’s a trend investors need to be aware of, and it’s one that CSR has smartly prepared for.

SGS Lakefield, on behalf of CSR, is currently using the Re-2OX process to recover metals from laptop batteries of various manufacturers.  The opportunity in the recycling space is huge and the CSR team has been working vigorously on all aspects of this for quite some time now. They are expected to soon release initial results from SGS and expand on its plans to the market.  Keep in mind, Re-2OX has already been proven to work, achieving very high recoveries (>98%) and has been further optimized.  It is highly adaptable to different types of feed.

With so much happening both on the ground and in the labs, CSR is well positioned for a near-term major breakout through resistance around 30 cents.

More tomorrow and throughout the week as BMR coverage from the Greater Cobalt Camp in northern Ontario goes underground, from inside the Castle mine!

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

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

To read today’s report, click here or login as a current subscriber with your username and password.

June 2, 2017

BMR Morning Market Musings…

Gold finished May on a strong note and has broken out as high as $1,280 today…as of 11:30 am Pacific, bullion is up $11 an ounce at $1,277 thanks to a much weaker than expected U.S. non-farm payrolls report this morning from the Labor Department…Silver has jumped 22 cents to $17.49…Copper off slightly at $2.55…Nickel has added 4 pennies to $4.03…Crude Oil is 81 cents lower to $47.55 a barrel while the U.S. Dollar Index has tumbled half a point to 96.72…the greenback is in a heap of technical trouble looking out over the balance of 2017, and that’s very bullish for Gold prices…the pundits have grossly underestimated the yellow metal’s potential this year…

U.S. Treasury yields fell on the back of the jobs number this morning with the benchmark 10-year yield slipping as low as 2.14%, giving Gold a nice lift…

Strength in Gold is pushing the entire precious metals complex higher today…while Platinum is seeing the best gains, up $21 an ounce at $951, Palladium has made a significant move with prices in the mid-$830’s – their highest level since September 2014…

The biggest driver for Palladium will be continued growth in the U.S. and Chinese auto sectors…while auto sales in the U.S. have disappointed for 5 consecutive months, the sales pace is still relatively healthy with 16.66 million vehicles sold last month…

The potential job losses in British Columbia are already piling up even before the NDP-Green “power grab” threatens to bring down British Columbia’s Liberal minority government next month, an event that would install a radical regime hostile to resource development…B.C. NDP leader John Horgan has written a letter asking the President of B.C. Hydro to halt work on the huge Site C Dam Project in the northern part of the province…the letter says the project should be independently reviewed by the B.C. Utilities Commission, and urges Jessica McDonald to suspend evictions of First Nations groups on the land…the dam remains under construction with about 2,000 people working at the site…the Liberal government has already spent or committed $4.4 billion for the project…

Gold 9-Month Daily Chart

Gold bulls continue to hold the upper hand with a chart pattern that clearly points toward a test of the $1,300 level this month…

  • Breakout confirmed above $1,260
  • RSI(14) has momentum at 59% with plenty of room to push higher
  • Sell pressure (CMF) has been replaced with weak buy pressure
  • ADX indicator confirms a bullish trend
  • Rising 50-day moving average (SMA) is currently $1,257

Note how Gold completed a healthy correction to its 2017 uptrend line in early May which coincided with Fib. support…our minimum 2017 target is the low $1,400’s…

It’s notable that despite a looming Fed rate hike, Gold continues to push higher and has rebounded powerfully off its lows during the 1st half of the month around $1,215…

May and June are traditionally the 2 worst back-to-back months on the calendar for Gold…however, the metal is bucking that trend in 2017…with no end in sight to the greenback’s technical woes (further deterioration is likely over the summer as the 200-day SMA begins to decline), and Q3 seasonal strength ready to kick in for bullion, it’s hard to imagine that Gold won’t break out powerfully above $1,300 over the summer in a move that will take many pundits by surprise…

In today’s Morning Musings…

1. A Yukon Zinc play getting ready to run…

2. Castle mine site visit – underground extraction begins, starting with massive Cobalt…

3. Montreal-based technology play surges to new multi-year high – what’s next?…

4. Jaxon Minerals’ updated chart after a wild week…

5. Daniel’s Den – large mines and serially successful people…

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

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

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

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

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

7 @ 7:00

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

1. Gold has traded between $1,259 and $1,278 so far today, reversing higher and hitting its best level since April after a weaker than expected U.S. non-farm payrolls report from the Labor Department…this likely won’t alter the Fed’s determination to push through 1 more rate hike during this 1st half of the year when it meets June 13–14…as of 7:00 am Pacific, bullion is up $9 an ounce at $1,275 with a breakout confirmed above $1,260 as we’ll show in a chart in today’s Morning Musings…the yellow metal is well positioned to challenge the $1,300 level this month…Silver is up 11 cents at $17.38 while the U.S. Dollar Index has fallen nearly half a point…demand for U.S. American Eagle Gold and Silver bullion coins picked up in May, its first rise after 3 consecutive monthly declines…while sales are on the rebound from April’s 16-month low, the physical market for Gold and Silver coins remains lackluster – leaves room, however, for a potential sharp demand increase during the 2nd half of the year…

2. U.S. Job creation (public and private sector employment) fell sharply in May with just 138,000 new positions created while the unemployment rate declined to 4.3%, the lowest in 16 years, according to Labor Department data released this morning…economists surveyed by Reuters had expected non-farm payrolls to grow by 185,000…wage gains also disappointed with average hourly earnings rising at a 2.5% annualized pace…in addition to the weak May numbers, previous months also saw significant downward revisions…this morning’s numbers differed sharply from the ADP report released yesterday that showed a whopping 253,000 increase in private payrolls last month…private employers are stepping up hiring and U.S. factory activity ticked up in May after slowing for 2 straight months, suggesting the economy is gradually regaining speed after struggling at the start of 2017…

3. The U.S. Oil industry exported a record 1.3 million barrels of Crude per day onto the world market last week – just a half million barrels less than the cuts OPEC and Russia agreed to make to daily production…the U.S. government also reported that domestic Oil production increased to 9.34 million barrels a day from 9.32 million the week earlier (highest daily output in nearly 2 years), a sign that shale producers continue to ratchet up output even with Oil trading below $50 a barrel…however, official U.S. data gave some bullish news yesterday as it showed the country’s Crude inventories fell sharply last week, much more than expected as refining and exports surged to record highs…WTIC is off 83 cents a barrel at $47.53 as of 7:00 am Pacific…the Saudis want Oil to gain traction above $50 – a potential trigger for that could be a significant drop in the greenback which continues to deteriorate from a technical perspective…

4. The Venture is unchanged at 800 as of 7:00 am Pacific with the broader indices down slightly in early trading…PyroGenesis Canada (PYR, TSX-V) is breaking out to a multi-year new high, pushing through resistance at 80 cents…Jaxon Minerals (JAX, TSX-V), another BMR favorite and a 51% gainer on huge volume yesterday, has retreated 3.5 cents to 30 cents as of 7:00 am Pacific…we’ll have an updated JAX chart in today’s Morning Musings…

5. Cobalt prices are up 8.5% since the first week of May, equaling their early 2017 high of $25.63 (U.S.)…BMR has returned to the northern Ontario Cobalt-Silver Camp to follow up on a visit in mid-February, and our first stop has been the Castle mine in Gowganda where Castle Silver Resources (CSR, TSX-V) is the first junior in the district this year (and might be the only one) to go underground…an impressive quartz-carbonate vein structure with bands of rich Cobalt mineralization (Cobalt “bloom” and black sulphides) is the target of bulk sampling which started yesterday on the first level of the Castle mine…preparations are also ramping up for an underground drill program to intersect both Cobalt and Silver…historically, all 11 levels of the Castle mine returned exceptionally high Silver grades while no assays were ever carried out for Cobalt…a major factor in CSR’s favor is a proprietary Cobalt and multi-metal recovery process, Re-2OX, initially developed in conjunction with the National Research Council and optimized since then…it will allow CSR to create high purity Cobalt powders for end users in the battery sector while also exploring efficient and environmentally friendly extraction of Cobalt and Lithium from spent Lithium-ion batteries… 

6.  As of 7:00 am Pacific, the TSX Gold Index is up 3 points at 211 where it’s once again challenging resistance at the 200-day moving average (SMA) which has been declining since March but is starting to flatten out…the trend points toward a robust move in the Gold Index beginning over the summer in conjunction with a further weakening in the U.S. Dollar Index…a smaller producer such as Richmont Mines (RIC, TSX) could significantly outperform the Gold Index…Richmont is trading higher for the 3rd straight session today after releasing positive results earlier this week from an expansion case PEA completed on the Island Gold mine in northern Ontario…the study confirms the increase in underground mine and mill productivity to 1,100 tonnes per day will support strong production growth of 22% at low industry cash costs and a robust cash flow stream over the 8-year Phase 1 period, with low incremental capital of $28.2-million (CDN) required…the ramp-up to 1,100 tonnes per day is currently under way and the operation is anticipated to achieve the target run rate in the latter part of 2018…

7. MGX Minerals (XMG, CSE) was halted late in yesterday’s session, pending news or clarification of news, after announcing earlier in the day that it has made the maiden shipment of Lithium chloride 30% concentrate to the company’s Lithium compound upgrader…the samples will be analyzed for upgrading to 99% Lithium carbonate and suitability for direct-to-Lithium hydroxide upgrading…MGX is currently in discussions regarding global tolling and upgrading of Lithium chloride feedstock…the stock was up 3 cents at $1.17 when it was halted…

The most popular recent BMR articles…

How The Eskay Heart of Gold Camp Will Help Drive The Coming Venture Up Wave (Part 1)

“Beyond the Supercycle”:  15 Predictions About The Future Of Natural Resources

Tech-Savvy Junior Captures Cobalt Camp Advantage

Venture Update – The Surprise That’s Just Around The Corner!

June 1, 2017

BMR Evening Alert!

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7 @ 7:00

Check the BMR comments section throughout the day for updates and helpful information. 7 @ 7:00 and Morning Musings returns tomorrow.

1. Gold has traded between $1,261 and $1,270 so far today as a new month begins…as of 7:00 am Pacific, bullion is down $4 an ounce at $1,264 after a stronger than expected U.S. private jobs report…this only reinforces the near certainty of a Fed rate hike June 14 which should be viewed as bullish for Gold, contrary to what much of the mainstream media contends…Gold finished slightly positive for May, bucking an historical trend…ETF buying was subdued…Gold ETFs tracked by Bloomberg recorded inflows of only 1.7 tonnes last month while holdings in Silver ETFs increased by 710 tonnes…

2. U.S. private payrolls jumped by a whopping 253,000 last month, well ahead of expectations…economists surveyed by Reuters expected the report to show jobs growth of 185,000 in May, up from 174,000 in April…the ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report tomorrow which includes both public and private sector employment…meanwhile, the U.S. manufacturing index inched slightly higher last month, hitting 54.9, according to data released this morning by the Institute for Supply Management…economists had expected the index to slip to 54.5…

3. Crude prices have bounced higher this morning thanks to industry data from the American Petroleum Institute (API) late yesterday that showed that U.S. Crude inventories fell by 8.7 million barrels to 513.2 million in the week to May 26, a significantly larger drop than expected (the EIA reports its official figures within the hour)…yesterday’s bullish inventory data was welcome news after a Reuters‘ survey showed an increase in Libyan Oil production helped boost OPEC Crude output in May, the first monthly rise this year…

4. The Venture is up slightly at 801 as of 7:00 am Pacific with North American equity markets recovering from modest losses yesterday…the TSX is 52 points higher through the first 30 minutes of trading…in New York, the Dow has added 12 points as of 7:00 am Pacific while the NASDAQ has hit a new record high…the Dow, S&P and NASDAQ are coming off solid monthly performances in May…the S&P and NASDAQ posted monthly gains of 1.16% and 2.5%, respectively, while the Dow rose about a third of a percent on the back of a subdued volatility environment…the VIX, widely considered the best gauge of fear in the market, broke below 10 six times last month, hitting levels not seen in more than 20 years…

5.  Jaxon Minerals (JAX, TSX-V) announced this morning that it has entered into a binding Letter of Intent (LOI) to acquire a 100% interest in the promising Foremore Property in the Eskay Heart of Gold Camp…the 155 sq. km property is 30 miles north of the Eskay Creek mine and adjoins Jaxon’s recently acquired Wishbone Property and Aben Resources‘ (ABN, TSX-V) Forrest Kerr Project…Foremore hosts an abundance of known precious and base metal-rich mineralized boulder fields, outcrops, as well as multiple geochemical and geophysical anomalies over a broad area…Cominco staked portions of the property after the original discovery of a 162 g/t Au quartz boulder and several massive sulphide boulder fields during helicopter reconnaissance in the late 1980’s, just prior to the Eskay Creek discovery…since that time, millions of dollars were spent by Cominco and, subsequently, Roca Mines, developing multiple target areas…the geology is complex but a compilation and reinterpretation of historical data, combined with today’s enhanced understanding of the district, will give Jaxon a good chance to develop Foremore into a market-moving project…JAX gapped up to 28.5 cents this morning and has added 7.5 cents to 30 cents on high volume as of 7:00 am Pacific…

6. News from the northern Ontario Cobalt Camp this morning, just prior to a BMR site visit that begins at CSR’s Castle mine in Gowganda…First Cobalt (FCC, TSX-V) has entered into a strategic partnership/option agreement with Australian-listed Cobalt One, allowing for a 50/50 JV on the Yukon Cobalt extraction refinery in the community of Cobalt…First Cobalt says this will give them access to a refinery and 40 acres of permitted property capable of processing the Silver-Cobalt arsenide concentrates historically produced in the Cobalt Camp…the refinery is one of only 4 fully permitted facilities in Canada capable of treating this type of ore and the only such facility in the district…FCC has gained a nickel on the news to 65 cents…meanwhile, Cobalt prices continue to rise and today have matched their 2017 and decade high price of $25.63…

7. MGX Minerals (XMG, CSE) announced this morning that it has made the maiden shipment of Lithium chloride 30% concentrate to the company’s Lithium compound upgrader…the samples will be analyzed for upgrading to 99% Lithium carbonate and suitability for direct to Lithium hydroxide upgrading…MGX is currently in discussions regarding global tolling and upgrading of Lithium chloride feedstock…the stock is up 4 pennies at $1.18 as of 7:00 am Pacific…

The most popular recent BMR articles…

How The Eskay Heart of Gold Camp Will Help Drive The Coming Venture Up Wave (Part 1)

“Beyond the Supercycle”:  15 Predictions About The Future Of Natural Resources

Tech-Savvy Junior Captures Cobalt Camp Advantage

Venture Update – The Surprise That’s Just Around The Corner!

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