BullMarketRun.com

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 $1,286 and $1,292 so far today…as of 7:00 am Pacific, bullion is up $2 an ounce at $1,289…Silver has added 2 pennies to $17.13…Copper and Nickel are up modestly at $3.05 and $5.03,  respectively…Crude Oil is steady at $50.92 while the U.S. Dollar Index has slipped more than one-tenth of a point to 93.08…in its latest commodity outlook published yesterday, analysts at Macquarie said that they see Gold prices pushing higher on the back of a faltering U.S. economy and a weaker U.S. dollar…the Australia-based bank sees Gold and Silver as outperformers over the next 12 to 24 months, an opposite view of two Goldman Sachs’ technical analysts who warned earlier this week that bullion is headed for a sharp fall…

2. OPEC’s production hit the 2nd highest monthly level this year in September, returning to growth after the Oil cartel’s output fell for the first time in 5 months in August…on a more bullish note, the producer group today raised its forecast for world Oil consumption in 2017 and 2018 for a 3rd straight month…the improved demand outlook from both OPEC and the International Energy Agency last month underpinned the Oil market rally in September…OPEC’s 14 members pumped 32.75 million barrels a day in September, up about 88,500 barrels, according to independent sources cited in the group’s monthly report…

3. Pretium Resources (PVG, TSX) continues to successfully ramp up operations at Brucejack, one of the world’s highest grade new mines in the Eskay Camp…82,203 ounces of Gold were produced in Q3 with a Gold recovery rate of 96.49%…in July, at the onset of the quarter, mill feed was predominately from low-grade stockpiles and development muck and 16,882 ounces of Gold were produced…as the ramp-up progressed, the mill began processing stope ore exclusively and an additional 65,321 ounces of Gold were produced in the last 2 months of the quarter…mill feed grade and Gold recoveries averaged 12.36 g/t Au and 96.92%, respectively, during the last 2 months of the quarter…the mill feed grade should continue to improve…PVG has jumped more than $2 a share to $14.26 in early trading…northwest of Brucejack, even as the weather turns colder, Garibaldi Resources (GGI, TSX-V) continues to aggressively drill at Nickel Mountain with 2 rigs, pointing to the increasing likelihood that the infamous Golden Triangle hosts Canada’s most significant Nickel-Copper-rich sulphide discovery in at least a decade…an exploration update from GGI is expected very soon…

4. The Dow is off slightly as of 7:00 am Pacific…the TSX has gained 23 points while the Venture has eased off 3 points to 791…Gold Standard Ventures (GSV, TSX) has made the jump from the Venture to the TSX with the company’s shares trading on the big board as of this morning…Jonathan Awde, President and CEO of Gold Standard, commented: “Gold Standard is very pleased to announce another significant milestone for the company and its shareholders. The TSX is Canada’s premier exchange and will further improve visibility of the company, provide access to a broader capital market base and will potentially provide greater trading liquidity for our shareholders’…GSV is focusing on district scale discoveries at its Railroad-Pinion Project within Nevada’s prolific Carlin Trend…

5. Barkerville Gold Mines (BGM, TSX-V) has extended a newly defined veining corridor known as the “Beta Corridor” in the Shaft Zone of its Cariboo Gold Project…drill hole IM-17–145 has intersected 20.5 g/t Au over 11.6 m and 87.7 g/t Au over 5.3 m at vertical depths of 365 and 415 m below surface…a total of 9 rigs are currently exploring and delineating the Shaft and Valley zones while a 10th drill is expanding the known mineralization on the BC Vein…BGM is off a penny at 84 cents, just slightly above its rising 200-day moving average (SMA)…

6. Probe Metals (PRB, TSX-V) released fresh drill results this morning from its Val d’Or East Project where 12,000 additional meters of drilling in 27 holes along the Pascalis Gold Trend further underscores the strong the potential south, east and under the former Beliveau mine…the 75,000-m program continues…expansion drilling to the south has intersected new vein structures including 27 g/t Au over 3.5 m and 1.8 g/t Au over 38.6 m at vertical depths of approximately 350 m and 135 m, respectively….expansion drilling to the East has returned 2.3 g/t Au over 34.8 m, including 18.1 g/t Au over 3.8 m, at a vertical depth of 160 m…drilling on the Highway zone 1 km northeast of New Beliveau intersected 5.1 g/t Au over 16.5 m at a 375 m depth in hole PC-17–187, including 19.4 g/t Au over 2.1 m and 21.6 g/t Au over 2 m, respectively…PRB has shown exceptional support near its rising 300-day SMA, currently in the mid-$1.40’s…

7. Canopy Growth (WEED, TSX) has entered into a definitive joint venture agreement to form a new company, BC Tweed Joint Venture Inc., together with a large-scale greenhouse operator to develop 1.3 million sq. feet of greenhouse growing capacity in British Columbia with an exclusive option to develop a further 1.7 million sq. feet of existing greenhouse infrastructure at a second B.C. location…applications have been submitted for both sites and subject to Health Canada and other standard regulatory approvals, “as well as a bit of luck”, the company stated, WEED is hopeful that it will have product available from the joint venture as soon as July 1, 2018…WEED has been gaining increasing momentum recently, as John’s charts suggested it would, with the stock up 8 cents at $12.91 through the first 30 minutes of trading…

The Template For The Next 10% Move In Garibaldi Resources

Thunder In The Corridor!

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

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

1. Gold has traded between $1,285 and $1,294 so far today…as of 7:00 am Pacific, bullion is up $8 an ounce at $1,292 after a 4-week plunge landed at strong support intra-day last Friday at 1,260…one factor helping the market is that participants in the key Gold-buying nation of China have returned from a week-long holiday, and premiums are strong there today…Silver has jumped 23 cents to $17.18…Copper is up 2 pennies at $3.01 while Nickel is off slightly at $4.93…Nickel jumped 4% yesterday in its best session in nearly 3 weeks on expectations that production in China will be curtailed in the coming weeks on environmental grounds as the National Congress draws near…Crude Oil has surged $1 a barrel to $50.60 while the U.S. Dollar Index is down modestly at 93.65…net bets on higher Gold prices by speculative investors fell for the 4th straight week…Gold, however, held just above its rising 200-day moving average last week with that SMA currently at $1,259…meanwhile, global Gold ETFs have been in demand again over the last 2 days, recording inflows of 7 tonnes…

2. Saudi Arabia says its state Oil company was undertaking an “unprecedented” effort to cut petroleum exports as the Kingdom looks for every way to bolster Oil prices…the move is part of Saudi Arabia’s efforts to boost confidence in OPEC-driven production cuts totaling almost 2% of the global Oil market…Saudi Arabian Oil Co., known as Aramco, is slashing over 7% of the Crude it exports by sea in November compared with last year…the move underscores the Saudis’ new emphasis on not just production levels but the amount it and its Oil allies export into the global market…OPEC Secretary-General Mohammed Barkindo said in a speech yesterday that there is “clear evidence” that the Oil market is coming into balance and that the group remains committed to its goal of reducing global stockpiles…the Saudis are pushing to get prices up to the $60 level…one of their key motivations is to make a success of the Aramco IPO planned for next year…

3. India’s Gold imports in September rose 31% from a year ago as jewelers increased their purchases ahead of a festival at the end of the month…however, the September figure was lower than the monthly average for 2017 of 75 tonnes as buyers were under the impression that Gold purchases were included in the Prevention of Money Laundering Act (PMLA) that was launched in August…Indian jewelers thought the PMLA required them to keep records of customers’ personal identification number or tax code for transactions above 50,000 rupees ($765.58) which limited Gold sales by buyers hesitant to give the information…however, Indian authorities last Friday withdrew the amendment that made jewelers subject to anti-money laundering legislation…excluding the industry from the PMLA will help revive demand but sentiment is still weak…

4. The Dow has jumped 75 points after the first 30 minutes of trading…retail giant Wal-Mart (WMT, NYSE) announced a $20 billion buyback before the bell and reiterated its earnings outlook for the current fiscal year…it was 10 years ago yesterday when the S&P 500 recorded its last record closing high until March 2013, thanks to the Great Crash and the Great Recession…the TSX is 47 points higher to begin the Canadian trading week following Thanksgiving while the Venture has added 3 points to 791…blockchain plays are active again this morning including Hive Blockchain Technologies (HIVE, TSX-V) and Datametrex AI (DM, TSX-V) which has gained 1.5 cents to 12.5 cents…Blue Moon Zinc (MOON, TSX-V) has engaged Mine Development Associates Inc. to carry out a Preliminary Economic Assessment of the Blue Moon Zinc Project in the foothills of California…the PEA is expected to be completed during Q1 2018…Dalradian Resources (DRA, TSX) is raising $84.75 million through private placements and the exercise of warrants held by Osisko Gold Royalties (OR, TSX)…Sean Roosen, Chair and CEO of Osisko, said, “We are very pleased to participate in the advancement of one of the world’s top undeveloped Gold projects in a new emerging Gold camp“…Aurora Cannabis (ACB, TSX) has arranged a bought deal with a syndicate of underwriters led by Canaccord Genuity to raise gross proceeds of $50.1 million (16.7 million units of the company at $3 per unit)…

5.  Good sign for the mining sector – over the past month alone, 3 new mining IPOs have been announced, including what could turn out to be the biggest in the sector in a decade…Luxembourg-based Zinc miner VM Holding SA, planning a dual listing in Toronto and New York, hopes to raise $750 million (U.S.)…Ero Copper, which has a Copper mine in Brazil, has announced plans to raise $103 million…meanwhile, Titan Mining, whose chief asset is a Zinc mine in New York State, is aiming to whip up $45 million…it’s notable that all 3 of those IPO’s involve base metal deals…

6. As BMR has been anticipating, the United States has decided to revoke economic sanctions on the Democratic Republic of the Sudan with the State Department citing the country’s efforts in fighting terrorism and easing humanitarian distress…the permanent lifting of the sanctions will be effective in just 2 days…that’s music to the ears of Orca Gold (ORG, TSX-V) CEO Richard Clark who commented this morning, “We have been working in Sudan since 2010 and can say that it’s one of the most favourable jurisdictions we have ever conducted mineral exploration and development in.  We are excited that this decision has been made as we are preparing to build the first full-scale commercial Gold mine in the country. The removal of the decades-long economic sanctions not only paves the way to a brighter economic future for The Sudan and its people, but hopefully encourages our peers, investors and partners to start looking at the country and join us in uncovering the incredible potential of this mineral-prolific jurisdiction.” ORG hit a new multi-year high of 74 cents in early trading and is up 4 pennies at 70 cents as of 7:00 am Pacific…

7. Atac Resources (ATAC, TSX-V) has released high-grade Gold intersections from diamond drilling at its Sunrise, Conrad and Osiris zones within the company’s 100%-owned Osiris Project at the Rackla Gold Property in the Yukon (Osiris is located wholly outside of the area currently under option to Barrick)…hole OS-17–249 returned two high-grade intersections – 15.2 m @ 13.5 g/t Au and 10.4 m @ 8 g/t Au – to extend the Sunrize zone at depth…meanwhile, hole OS-17–244 has returned 12.2 m @ 9.6 g/t Au to add contunuity to stratigraphically controlled mineralization at the Osiris zone, while drill hole OS-17–241 within the 650 Fault corridor at the Conrad Zone intersected 5.6 m @ 14.5 g/t Au…results from an additional 11 holes from the Osiris Project are still pending…ATAC is unchanged at 70 cents as of 7:00 am Pacific…

The Template For The Next 10% Move In Garibaldi Resources

Thunder In The Corridor!

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

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

The month of October during bull market years has mostly been very kind to the Venture over the last decade or so, and October 2017 is shaping up to be no different.

Venture volume and momentum are increasing with the Index now at a 4-month high and rapidly closing in on a key final resistance band before the uptrend intensifies.

Below, the infamous volcanic “Cone”, and a glacier-fed lake (also unnamed), immediately south of Nickel Mountain.  Someone has mused about the possibility of organizing the first-ever pond hockey game in the Eskay Camp next to Canada’s most significant Nickel sulphide discovery in at least a decade, celebrating both the resource industry and our national pastime…

BMR photo from just east of Nickel Mountain, looking below at the valley.

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 $1,261 and $1,272 so far today…as of 7:00 am Pacific, bullion is off $7 an ounce at $1,261 despite a weaker-than-expected U.S. jobs report…support at $1,260…Silver has slipped 18 cents to $16.40…Copper has retreated slightly to $2.98 but the metal is on track for its largest weekly gain since late July…Nickel is a penny higher at $4.75…Zinc has eased off 2 cents to $1.50…Zinc prices hit new highs this week and have risen more than 26% this year as a Chinese crackdown on pollution has curbed output while inventories in LME warehouses have declined to the lowest since 2009…Crude Oil has slipped $1.48 a barrel to $49.42 while the U.S. Dollar Index has rallied another one-third of a point to 94.18…the greenback will record its 4th consecutive week of gains, helped by expectations of a U.S. interest rate rise in December…

2. Germans invested a hefty $7 billion into Gold products in 2016, the World Gold Council said in its October market update, adding that there is more upside for Gold in that country.  “German investors have an acute awareness of the wealth-eroding effects of financial instability. Hyper-inflation in the 1920’s lingers on in the collective memory but, perhaps more importantly, German investors have seen fiat currencies come and go: in the past 100 years, Germany has had 8 different currencies,” WGC noted…now, Germany is a 100 t-plus per year market for bars and coins and a vast Gold-backed ETF market…

3. U.S. non-farm payrolls have come in negative for the first time since September 2010 as Hurricanes Harvey and Irma damaged not only Texas and Florida, but the U.S. jobs picture – temporarily, at least…payrolls fell by 33,000 in September even though the unemployment rate improved, dipping to 4.2%…meanwhile, the closely watched hourly wages figure jumped to a better-than-expected annualized rate of 2.9%…economists surveyed by Reuters expected payroll growth of 90,000 in September, compared to the initially reported 156,000 in August…the unemployment rate was expected to hold steady at 4.4%…the Fed’s next meeting is on October 31 and November 1, but markets don’t expect a rate hike then…they do anticipate a rate increase, however, when the Fed meets in December as the chances of the 3rd 2017 rate increase at that point is pegged at over 96% according to the CME FedWatch tool…

4. The S&P 500 posted its 6th consecutive record close yesterday…the economy keeps growing at a slow but steady pace, corporate earnings remain healthy and investors are betting a tax overhaul will further boost profits….the S&P 500’s current record streak is the longest since the 8 highs ending June 17, 1997, during the dot-com boom…meanwhile, the CBOE Volatility Index, known as Wall Street’s “fear gauge,” fell 4.6% yesterday to 9.19, eclipsing its record closing low of 9.31 set in December 1993…abnormally low fear levels won’t last forever…

5. The Dow is off 14 points as of 7:00 am Pacific while the TSX has pulled back 25 points ahead of a Thanksgiving long weekend in Canada with Canadian markets closed Monday…the Venture, flashing technical signs of a significant October breakout, is off 1 point at 784…Spearmint Resources (SRJ, TSX-V) is the runaway volume leader in early trading, up a penny at 5 cents…the company has acquired fresh claims north of Garibaldi Resources‘ (GGI, TSX-V) Nickel Mountain discovery while, not surprisingly, it has also acquired the “WHY West” Magnesium prospect “directly bordering” West High Yield’s (WHY, TSX-V) properties near Rossland…

6. West High Yield (WHY, TSX-V) is halted again, pending Venture clarification of company affairs, following yesterday’s bizarre session when the stock soared as much as 956% after WHY issued a news release stating that it had signed a “definitive arm’s-length purchase and sale agreement to sell 100% of its right, title and interest in its Record Ridge South, Midnight and O.K. mineral properties to Gryphon Enterprises LLC, a company based in Maryland, United States, for a purchase price of $750 million (U.S.).”  President and CEO Frank Marasco told the Financial Post, “If you calculate the 3 sections of the land, there is about 3,000 years of supply of Magnesium that can be extracted from the property.” He added that Gryphon went through about 5 years of due diligence on the property and the funders went through about a year-and-a-half before pulling the trigger on this deal…still, Marasco may have plenty of explaining yet to do…he and his wife own much of the stock and the company has struggled to raise money the last several years leading up to this suddenly announced $750 million (U.S.) windfall agreement…

7. New Gold (NGD, TSX), on the rebound this year after bottoming at $3.11 at the end of January, has completed its first Gold pour at the Rainy River mine in northern Ontario, and the company’s commissioning plans remain on schedule.  “Our team is proud to have delivered on all of the key project milestones since the beginning of 2017; however, the first Gold pour is a particularly special one for New Gold and its stakeholders,” stated Hannes Portmann, President and CEO…as previously announced, the Rainy River mine began processing ore on schedule September 14…since that date, New Gold has successfully processed approximately 290,000 tonnes of ore as the company ramps up Rainy River to its 21,000-tonne-per-day nameplate capacity…

The Template For The Next 10% Move In Garibaldi Resources

Thunder In The Corridor!

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