BullMarketRun.com

Check back later today for additional post(s) and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,306 and $1,310 so far today as a 2-day Fed meeting begins…as of 7:00 am Pacific, bullion is up $3 an ounce at $1,310…Silver has added 4 cents to $17.20…Copper is flat at $2.94…Nickel has fallen 10 cents to $4.96…Cobalt prices have hit a new decade high of $28.35…Crude Oil has gained 25 cents to $50.16 while the U.S. Dollar Index is off one-tenth of a point at 91.83…fund managers once again pushed their net bullish positioning in Gold to a multi-month high, although a recent pullback in prices likely means the next round of data from the Commodity Futures Commission will show that traders have exited from some of those positions…the rise in the net-long for the most recent report was the 9th straight weekly increase…Silver specs, however, still have plenty of room to grow their long exposure, thus Silver could outperform Gold over the near to short-term…

2. TD Securities on Gold:  “It is likely that markets will force the yellow metal below $1,300, toward $1,290/oz in the days ahead or after the FOMC.  It is also likely that, given the hope of fiscal stimulus and Fed communication stressing the possibility of more hikes, investors will be convinced to continue to take profits and lighten their heavy long exposure. In order for Gold to rally and break out toward $1,400/oz, there will need to be more certainty that the U.S. central bank will not attempt to follow the dot-plot blueprint it mapped out earlier in the year. While we do think this is possible, it is too early to tell now.”

3. Oil prices have hit a fresh 5-month high, buoyed by signals from Iraq’s Oil minister that the country could be open to extending OPEC’s production cut agreement through next year…Iraqi Oil minister Jabar al-Luaibi said today that Iraq and other members of OPEC are considering options that include a proposal for the cartel’s output cut deal to run through 2018 instead of expiring as planned in March…OPEC and non-OPEC participants are to meet in Vienna on Friday to review compliance with the deal, though investors and analysts widely expect that any decision on further cuts won’t come until OPEC’s official annual meeting in November…

4. The Dow has hit another record high, up 15 points at 22,346 as of 7:00 am Pacific as President Trump delivers his first speech to the UN General Assembly…the TSX has gained 44 points while the Venture has added 1 point to 778…Vendetta Mining (VTT, TSX-V) has discovered a new high-grade Lead/Zinc zone in an area that had no previous drilling at its Pegmont Project in Australia, highlighted by hole PVRD092 which intersected 6.2 m of 13% Lead + Zinc in the area (now called the Bridge Zone) between the Burke Hinge Zone (BHZ) and Zone 2…VTT is up a penny at 28 cents as of 7:00 am Pacific, just slightly below resistance at a gently declining 50-day moving average (SMA)…

5. Cryptocurrency miner Hive Blockchain Technologies (HIVE, TSX-V) made its Venture trading debut yesterday and is up 14 cents at $1.10 as of 7:00 am Pacific…this follows the completion of a $16.5-million equity financing, as announced on September 7, and the closing of the acquisition from Genesis Mining Ltd. of a state-of-the-art GPU-based blockchain data centre in Reykjanes, Iceland, and formation of a strategic partnership with Genesis as announced last Friday…the board of directors of HIVE have also appointed Frank Holmes as the company’s non-executive chairman…Holmes is the founder and CEO of U.S. Global Investors, an award winning asset management firm specializing in Gold and emerging markets…

6. Trading in Wolfden Resources (WLF, TSX-V) resumed this morning following a nearly 2-week halt after the company announced an agreement to acquire a 100% interest in the Pickett Mountain Zinc-Lead-Copper-Silver deposit in northern Maine…Wolfden management considers Pickett to be one of the highest-grade undeveloped VMS deposits in North America…Getty Mines Ltd. made the original discovery in 1979 using a combination of soil surveys, ground surveys and diamond drilling, but Pickett has not been explored in nearly 3 decades…new legislation introduced in 2013 and enacted this year has made the state more mining friendly…interest in the geology and potential for VMS projects like Pickett Mountain has revived with Zinc and Copper price appreciation and the opening up of Maine’s mine permitting regime under specific prescribed limitations…Wolfden has also agreed to the terms of a proposed royalty and equity-based financing with a subsidiary of Altius Minerals (ALS, TSX) to finance the acquisition…historical intercepts at Pickett include 18.7% Zn, 10.3% Pb, 1.63% Cu and 6.7 ounces per ton Ag over 7.7 m, and 14.6% Zn, 6.5% Pb, 2.7% Cu and 3.8 opt Au, also over 7.7 m (horizontal widths)… the deposit has been traced over a strike length of close to 900 m and appears to be open at depth…Wolfden plans to begin drilling in the near future with a mineral resource estimate planned for 2018…WLF is the Venture’s most active stock in early trading, up 10 cents at 28.5 cents…

7. A drill has been mobilized for Serengeti Resources’ (SIR, TSX-V) maiden exploration drilling at its UDS Property in north-central British Columbia…drilling will include testing a very strong IP geophysical anomaly associated with a robust Copper-Zinc-Gold soil geochemical response and favorable altered volcanic host rocks…UDS is 7 km northeast of the past producing Kemess South open pit mine, now owned by Aurico Metals (AMI, TSX-V)…Serengeti views the target at UDS as having the size and intensity to host a significant sulphide system at relatively shallow depth…3 holes totaling approximately 1200 m are currently planned as an initial test and the program could be expanded…SIR has been in a fresh uptrend since late June and is unchanged at 23 cents through the first 30 minutes of trading…

Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember

How To Bring A Junior Resource Market To Life!

The Dramatic New Chase For A Nickel-Copper-Rich Massive Sulphide Deposit In The Heart Of A Famous Gold Camp

Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began

CSR Builds Momentum At Castle Mine

Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,309 and $1,319 so far today ahead of the start of a Fed meeting tomorrow…as of 7:00 am Pacific, bullion is down $7 an ounce at $1,312…nearest support levels are $1,320 and $1,300…the pullback is not surprising after a terror attack in London, another North Korean missile launch and some disappointing U.S. economic data weren’t able to push Gold higher Friday…in addition, some technical selling was encouraged on a drop below $1,320 which represents support on an upsloping channel going back to mid-July…either the yellow metal reclaims that area by the end of the trading day or soon tests $1,300…Silver has slid 20 cents to $17.34 but should find strong support between $17 and $16.50…Copper is up slightly at $2.94…Nickel has added 4 cents to $5.06…Crude Oil is off 17 cents at $49.72 while the U.S. Dollar Index has fallen one-tenth of a point to 91.85…the U.S. Ambassador to the United Nations, Nikki Haley, said yesterday that the U.N. Security Council has run out of options in terms of containing North Korea’s nuclear program and the United States may have to turn the matter over to the Pentagon…President Trump addresses the U.N. tomorrow…

2. Global debt may be under-reported by around $13 trillion because traditional accounting practices exclude foreign exchange derivatives used to hedge international trade and foreign currency bonds, Bank for International Settlements researches said yesterday…they added it was hard to assess the risk this “missing” debt poses, but that the main worry was a liquidity crunch like the one that seized FX swap and forwards markets during the financial crisis…the $13 trillion unaccounted-for exposure exceeds the on-balance-sheet debt of $10.7 trillion that data shows was owed by firms and governments outside the United States as of the end March…

3. The key event for the markets this week is expected to be the Fed meeting tomorrow and Wednesday…besides its comments on inflation and the potential economic impact of Hurricanes Harvey and Irma, the market will be watching to see what the Fed does with its forecasts for interest rates…the Fed presents its forecast in a “dot plot” or chart with each Fed member’s forecast appearing as an anonymous dot…the Fed interest rate forecast currently shows 1 more rate hike this year and 3 next year, while market expectations are barely for 1…after a surprising jump in consumer prices last month, the market’s view of whether the Fed could raise rates this year changed with now near 50% odds being given for a December interest rate increase…just over a week ago, that number was closer to 20%…Goldman Sachs’ economists see a 60% chance of another hike this year, even after the estimated $100 billion in damage from the hurricanes…they note that the Fed kept its growth forecasts unchanged following Hurricane Katrina and continued on a rate hiking cycle…meanwhile, the Fed is expected to start slowly trimming its $4.5 trillion balance sheet but that announcement has been widely anticipated…

4. Fresh record highs on Wall Street this morning, thanks in part to a big deal in the defense sector…the Dow is up 59 points at 22,328 as of 7:00 am Pacific…the TSX has gained 43 points while the Venture is 2 points lower at 778…after completing a due diligence review, Cobalt Power Group (CPO, TSX-V) says it’s proceeding with the acquisition of privately-held Canadian Cobalt Projects Inc. for a whopping 30 million shares which will increase CPO’s share count by 50%…the deal will quadruple the size of CPO’s land package in the northern Ontario Cobalt Camp to 85 sq. km but at the cost of significant dilution…

5. Interesting (and positive) news from First Cobalt (FCC, TSX-V) this morning with the company stating that it has elected not to complete the acquisition of 7 Cobalt properties in the Congo announced May 1 and will instead focus its efforts on the northern Ontario Cobalt Camp…FCC’s previously announced mergers with Cobalt One and CobalTech Mining will be completed later this year, resulting in a combined land position of more than 100 sq. km in the Cobalt Camp containing approximately 50 past producers and mine workings…the company added that the high number of advanced exploration targets ready for immediate work in the Cobalt Camp greatly offsets the potential in the DRC properties at this time…First Cobalt says it may evaluate Cobalt opportunities elsewhere in the future if they align with the company’s overall strategy to offer investors leveraged access to the growing Cobalt market…

6. GT Gold (GTT, TSX-V), which was commanding a market cap in excess of $200 million and touched key measured Fib. resistance at $2.65 last week, corrected this morning after releasing more drill results from its Tatogga Property in the Red Chris district…the numbers were solid but the market generally prefers mystery over history…highlights included 20.7 m grading 5.8 g/t Au (hole 14), 23.6 m @ 5.1 g/t Au (hole 10), and 9 m @ 7.5 g/t Au and 37.2 g/t Ag (hole 16)…the company says aggregate estimated true widths of the significant intercepts announced for all Saddle South core holes reported to date average 11.1 m per hole with a corresponding average grade of 11.8 g/t Au…intercepts have now been achieved to 500 m down-dip from surface, a significant increase from the 330 m down-dip reported August 31…drilling has also extended the strike length to 360 m east-west and further extension is anticipated…the discovery remains open east, west and to depth…assays are pending for about 3 dozen more diamond drill holes from Saddle South…expansion drilling is ongoing with 2 drills…

7. Tinka Resources (TK, TSX-V) released results this morning from 9 additional step-out holes at its Ayawilca Zinc Project in Peru, highlighted by Hole A17–089 which returned 10.8 m grading 16.7% Zinc from 218.6 m depth…the company also says it intends to update the Ayawilca Zinc resource on completion of 2 holes now in progress at South Ayawilca (including sampling and assaying) witresource update is expected to be completed by early November…after shooting as high as 78 cents this year, TK has retreated toward its rising 200-day moving average (SMA), currently at 52 cents…

Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember

How To Bring A Junior Resource Market To Life!

The Dramatic New Chase For A Nickel-Copper-Rich Massive Sulphide Deposit In The Heart Of A Famous Gold Camp

Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began

CSR Builds Momentum At Castle Mine

From AltaGas Camp Near McLymont Hydroelectric Facility, SE of Eskay Creek

The Venture continues to trade within a narrow range but equaled its highest close in 3 months on Friday as more evidence emerges for a potential strong finish to Q3.

Below, a classic example of a receding glacier in the Eskay Camp exposing alteration zones and mineralization previously hidden from geologists – this is how some new discoveries will be made.

Receding glacier in the Eskay Camp reveals the benefits of “climate change” (BMR photo).

Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,320 and $1,331 so far today…as of 7:00 am Pacific, bullion is down $6 an ounce at $1,323…a terror attack in London, another North Korean missile launch and some disappointing U.S. economic data have not been able to lift Gold higher today…Silver has slid 16 cents to $17.61…Copper is off slightly at $2.91…Nickel has retreated 3 cents to $5.03…Cobalt prices are holding steady around $27.50…Crude Oil, trading at a 5-month high, is unchanged at $49.90 while the U.S. Dollar Index has fallen one-fifth of a point to 91.75…

2. Copper prices, which shot up more than 20% from their July lows, continue their consolidation in light of fresh economic numbers out of China…the country’s August industrial production was the weakest since December, investment growth year-to-date hit its lowest level since 1999, and retail sales (10.1%) expanded at their slowest monthly rate this year…all of that goes against the trend of mostly positive data out of China this year…thanks to the stronger than expected 6.9% growth achieved during the 1st half of 2017, the government was able to shut down unwanted and polluting industrial plants without damaging its full-year ambitions…it’s now all but guaranteed to achieve its target of 6.5% growth for the whole of 2017 even if the economy slows further in the coming months…for officials in many parts of the country, the environment has now overtaken economic expansion as their top priority as climate change fanaticism expands to Asia…

3. Some weaker than expected U.S. economic data this morning should help keep the Fed on its dovish track…retail sales slumped in August as Hurricane Harvey likely depressed motor vehicle purchases, suggesting a moderation in consumer spending in the 3rd quarter…the Commerce Department reported that retail sales dropped 0.2% last month while data for July cut the gain by half as retail sales were revised to show just a 0.3% increase instead of the previously reported 0.6% jump…meanwhile, industrial production fell 0.9% in August vs. estimates of a 0.1% increase while consumer sentiment figures for August were just released and came in at 95.3 vs. the consensus estimate of 95.1…

4. New highs on Wall Street, aided by strength in tech stocks…the Dow is up 16 points through the first 30 minutes of trading…the TSX is flat while the Venture continues to work its way through stiff resistance in the 770’s…the Index is up 4 points to 780…Garibaldi Resources (GGI, TSX-V) has rebounded strongly after yesterday’s volatility while neighbor Metallis Resources (MTS, TSX-V), gearing up for more drilling, has strengthened into the low 70’s…Aben Resources (ABN, TSX-V) continues to trade briskly, up 4 cents to 45 cents as it again approaches critical measured Fib. resistance in the high 40’s…

5. International Samuel Exploration (ISS, TSX-V) has added to its land position in the increasingly active northern part of the Eskay Heart of Gold Camp, acquiring the Mickey Davis Gold-Copper Property that shares more than 35 km of contiguous claim boundaries with Evrim Resources‘ (EVM, TSX-V) Ball Project optioned in a $31 million deal to Antofagasta…the package increases International Samuel’s footprint in the district to 240 sq. km…Mickey Davis is contiguous to the company’s recently announced Lucifer Gold Project and less than 750 m from the Hart Gold Project being advanced by Golden Ridge Resources which should soon be trading on an RTO through 88 Capital (EEC, TSX-V)…ISS, with 27.5 million shares outstanding, is unchanged at 13.5 cents in early trading…

6. Aurion Resources (AU, TSX-V) has hit a new high of $3.25…the company has started drilling at the Aamurusko high-grade Gold prospect on its 100%-owned Risti Project in northern Finland…a total of 21 diamond drill holes are proposed over a distance of approximately 1.1 km along a northeast-southwest-trending 1-km-wide corridor…within this corridor, a total of 717 quartz vein blocks have assayed from nil to 2,520 g/t Au and average 33 g/t Au…impressively, 102 assayed above 31 g/t Au…Aurion has also made several new high-grade Gold discoveries along regional unconformities southwest, northwest and east of Aamurusko…Kinross just acquired a 9.9% interest in Aurion by completing a $16 million private placement in the company at $2.32 a share…AU’s uptrend has been strongly supported by its 10-day moving average (SMA), currently $2.80…

7. Canada Zinc Metals (CZX, TSX-V) is up slightly after releasing results from the first 2 holes of a recently completed drill program at its Cardiac Creek deposit in northeastern B.C.’s Kechika trough…drill hole A-17–132, targeting the northwest strike extension of the high-grade core, returned 10.4% Zinc plus Lead and 14.2 g/t Silver over a true width of 28.7 meters…drill hole A-17–133 intersected 12.1% Zn plus Pb and 16 g/t Ag over a true width of 9.4 m within a broader mineralized interval of 25.63 m…Cardiac Creek hosts a NI-43–101 Indicated resource of 19.6 million tonnes grading 8.2% Zn, 1.6% Pb and 13.6 g/t Ag, and an Inferred resource of 8.1 million tonnes grading 6.8% Zn, 1.1% Pb and 11.2 g/t Ag, at a 5% Zn cut-off grade…in addition to the Akie Project, the company owns 100% of 10 large, contiguous property blocks that comprise the Kechika regional project…

Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember

How To Bring A Junior Resource Market To Life!

The Dramatic New Chase For A Nickel-Copper-Rich Massive Sulphide Deposit In The Heart Of A Famous Gold Camp

Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began

CSR Builds Momentum At Castle Mine

Check the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,315 and $1,328 so far today…as of 7:00 am Pacific, bullion is up $2 an ounce at $1,325…Silver is off 3 pennies at $17.91…Copper has slid 2 more cents to $2.93…Nickel has retreated 4 cents to $5.09…Crude Oil has climbed 69 cents to $49.99 while the U.S. Dollar Index is relatively unchanged around 92.35…more bluster from North Korea today…a North Korean state agency threatened to use nuclear weapons to “sink” Japan and reduce the United States to “ashes and darkness” for supporting a U.N. Security Council resolution and sanctions over its latest nuclear test…the Korea Asia-Pacific “Peace Committee”, which handles the North’s external ties and propaganda, also called for the breakup of the Security Council, which it called “a tool of evil” made up of “money-bribed” countries that move at the order of the United States…

2. U.S. Crude topped $50 a barrel for the first time in 5 weeks today, building on recent gains after forecasts for stronger Oil demand by the International Energy Agency (IEA)…today’s gains follow an increase in the IEA’s estimate for global demand growth…the IEA sees the global Oil surplus beginning to shrink…Saudi Arabia is clearly determined to keep price pressure to the upside and is closely monitoring not just Oil output among OPEC members but exports ahead of a meeting in Vienna September 22…

3. The Dow is up 17 points through the first 30 minutes of trading, hitting a new record high…September is set to be the 11th straight month in which the S&P 500 has either risen or has fallen by less than 0.1%…if stocks continue to perform well over the rest of the month, that will make the longest such streak for the S&P 500 in 58 years…the TSX is up 28 points while the Venture has added 1 point to 772 as of 7:00 am Pacific…Garibaldi Resources (GGI, TSX-V) is an early volume leader, down 14 cents at $1.07 and within a strong zone of support…neighbor Metallis Resources (MTS, TSX-V) has also dipped to new support just above 60 cents…Dolly Varden Silver (DV, TSX-V) has closed a $5.7 million financing and has increased its 2017 exploration program budget from $3.5 million to $6 million (5,000 m of drilling to approximately 12,000 m)…Mission Ready Services (MRS, TSX-V) continues to trade robustly, pushing through resistance at 25 cents…

4. Barkerville Gold Mines (BGM, TSX-V) continues to expand a veining corridor at depth in the Shaft zone at its flagship Cariboo Gold Project…Phase II step-out drill hole IM-17–143 has intersected 7.1 g/t Au over 34.3 m at a vertical depth of 425 m below surface…this occurrence is located 50 m downdip of recently reported IM-17–131 which averaged 53.3 g/t Au over 11.5 m, 390 m vertically below surface and represents an area at depth open for immediate expansion…meanwhile, located in the southeastern portion of the Shaft Zone at a vertical depth of 300 m below surface, IM-17–146 has discovered another new occurrence of high tenor veining grading 17.5 g/t Au over 8.6 m…this new area is also open for expansion along vein strike and to depth due to the scarcity of drilling in this area…Paul Geddes, BGM’s VP-Exploration, commented:  “The Phase II drilling program at Island Mountain continues to yield strong results with respect to expanding upon the sizeable, high tenor vein corridors that are potentially amenable to bulk underground mining methods.  As we continue to infill the Shaft Zone and expand the known corridors, we are not only demonstrating the continuity but the size of this impressive Gold system.”

5. Effective next Monday, September 18, former Venture star Nemaska Lithium (NMX, TSX) will be added to S&P/TSX Canadian indices including the S&P/TSX SmallCap Index, S&P/TSX Global Mining Index, S&P/TSX Global Base Metals Index and the S&P/TSX Equal Weight Global Base Metals Index…NMX is up 3 pennies to $1.41 on the news.  Guy Bourassa, President and CEO of Nemaska Lithium, commented, “Our inclusion in the S&P Dow Jones Indices is a clear recognition of the evolution of Nemaska Lithium as it transitions from exploration into development and Lithium production. Assets around the globe are invested products based on these indices and we look forward to the increased market visibility that membership in the S&P/TSX Canadian Indices provides.”

6. Jaxon Mining (JAX, TSX-V) has found high-grade Gold in prospecting at its 390 sq. km Hazleton Project, 17 km from the advanced Max Silver-Zinc-Gold massive sulphide target in central British Columbia…6 of 31 Gold samples at “Cirque-Ridge-Tarn” ranged from 10.8 g/t Au to 18.4 g/t Au while 18 samples had Gold content in excess of 1 g/t…the newly discovered zone covers an area 600 m x 600 m…approximately 2 km east of CRT, a 500 m x 300 wide area of pyritic sulphide mineralization has been outlined at the RS zone…the rusty-gossanous RS area may have undergone considerable surface leaching of sulphides as the springs and creek water contain significant sulphur, manganese and iron…despite this, 1 sample returned 284 g/t Silver and 4.1 % Zinc, and a number of the RS samples have anomalous Copper results…Jason Cubitt, President and CEO of Jaxon commented, “The discovery of a high-grade Gold system at the Hazelton Property is hugely exciting, given that it was always predicted by our model. These new discoveries in outcrop reinforce for us the truly district scale high-grade Gold, Silver and Zinc potential.”

7. Eldorado Gold (ELD, TSX) continues to battle an incompetent Greek socialist government that has clearly branded itself as an unfriendly mining jurisdiction while Prime Minister Alexis Tsipras ironically tries to lure more foreign investment into the country…while ELD has received 2 new permits, an arbitration notice alleges that the technical study for the Madem Lakkos metallurgical plant for treating Olympias and Skouries concentrates in the Stratoni Valley, submitted in December, 2014, is deficient and therefore in violation of the transfer contract and the environmental terms of the project.  George Burns, President and CEO of Eldorado Gold, stated: “Eldorado has always sought a constructive relationship and dialogue with all levels of the Greek government. Despite the Greek government’s refusal to engage with Eldorado, we believe that this matter could still be resolved through good faith negotiations. We again invite the ministry to engage with us for such purpose. Nevertheless, we will vigorously defend our rights and employ all legal means at our disposal. We are confident in the completeness of our efforts in Greece, the rigour of our engineering and the vast potential benefit of these projects for regional and national stakeholders.” Eldorado’s decision on Monday to suspend all its operations in Greece, citing delays in acquiring routine permits, is putting the screws to Prime Minister Tsipras…Eldorado is the largest foreign investor in Greece, employing 2,400 people there…

The Nickel Mountain “Magma Highway”

Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember

How To Bring A Junior Resource Market To Life!

The Dramatic New Chase For A Nickel-Copper-Rich Massive Sulphide Deposit In The Heart Of A Famous Gold Camp

Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began

CSR Builds Momentum At Castle Mine