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We’re in historic times, and the opportunities for resource investors during this 2nd half of 2018 are profound…

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

1. Gold and Silver both hit fresh 12-month lows this morning but have rebounded modestly…as of 7:00 am Pacific, bullion is off $7 an ounce at $1,240 while Silver is 19 cents lower at $15.73…Gold dipped as low as $1,235 while Silver touched $15.63…Copper, Nickel and Zinc are each off slightly at $2.81, $6.27 and $1.18, respectively, while Cobalt is steady at $31.98…Crude Oil has added 27 cents to $70.60 while the U.S. Dollar Index is up one-tenth of a point at 94.79…U.S. economic growth has been solid during the 1st half of the year and the Federal Reserve continues to expect to raise interest rates gradually, the central bank said this morning in an upbeat semi-annual report to Congress…the Fed has raised interest rates 7 times since it began a tightening cycle back in December 2015 and last lifted its benchmark lending rate by a quarter percentage point in mid-June…the Fed sees another 2 rate hikes by year-end…U.S. consumer sentiment remains strong but dropped below expectations at the beginning of July to a 6-month low 0f 97.1 vs. the consensus estimate of 98.2, according to the University of Michigan’s monthly survey released this morning…President Trump and U.K. Prime Minister Theresa May said in a joint news conference this morning that they’re committed to striking a trade deal, seeking to project unity after the President in an interview criticized the beleaguered Prime Minister’s approach to Brexit…

2. The Dow has retreated 19 points through the first 30 minutes of trading…some of the largest U.S. banks reported mixed quarterly results…just over 5% of S&P 500 companies have reported 2nd quarter results thus far…these companies have posted earnings growth of 16.37%…however, analysts polled by FactSet expect Q2 earnings to have grown by 20%…in Toronto, the TSX is 8 points lower while the Venture has fallen 3 points to 726 as of 7:00 am Pacific…3 hot stocks are closing the week on a positive note…Canada Cobalt (CCW, TSX-V) is threatening to hit new highs, up a penny at 75 cents through the first 30 minutes of trading…CCW is the only company drilling underground in Canada for high-grade Cobalt, and it’s on track to imminently become the first junior in Canada to produce a Cobalt sulphate product during this “battery arms race”…CCW is assembling a pilot plant at its Castle mine in the Northern Ontario Cobalt Camp, where it’s the only company with underground access, to ramp up its Re-2OX Cobalt sulphate program with SGS Lakefield…White Metal Resources (WHM, TSX-V), which has been making a series of surface Gold discoveries over a broad area at its previously unexplored Gunners Cove Property in northern Newfoundland, is off half a penny at 22 cents but showing bid strength, while Kracken Robotics (PNG, TSX-V) is also nearing a multi-year high, up 2.5 cents at 35.5 cents…

3. Wesdome Gold Mines (WDO, TSX) has reported 2018 1st half Gold production of 34,576 ounces, putting the company well within guidance range of 68,000 ounces for the year…Duncan Middlemiss, President and CEO, stated, “Eagle River head grades of 11 g/t were lower than head grades in Q1 of 12 g/t due to stope sequencing, but were in line with internal expectations.  During the quarter, underground development was completed in the high-grade 303 area in preparation for stope production in Q3.  We expect production to increase in the 2nd half of the year with the commencement of stoping from the 303 area of the underground mine.  At the Mishi pit, Gold production was higher compared to Q1, with 1,860 ounces produced (1,550 ounces in Q1).  The operational initiatives implemented throughout the year have resulted in head grades of 2.7 g/t in Q2, compared to 1.8 g/t in Q1″…WDO, one of the top-performing Gold stocks this year, is off 6 cents at $3.33 as of 7:00 am Pacific…

4. Copper Mountain Mining (CMMC, TSX) remains on track for 2018 guidance…the company’s Princeton, B.C., operation produced 23.1 million pounds of Copper equivalent during Q2, which includes 20 million pounds of Copper, 6,500 ounces of Gold and 68,400 ounces of Silver (1st half 2018 production came in at 46 million pounds of CuEq)…open-pit mining averaged 214,500 tonnes per day in Q2, 13% above guidance, while total tonnes milled during the period was 3.4 million tonnes at an average head grade of 0.335% Cu and recovery of 80.5%…Gil Clausen, President and CEO of Copper Mountain, commented, “The operation performed well during the quarter, with production higher year over year.  Copper Mountain is demonstrating consistent and solid production, and we are on track to achieve annual guidance”…at $1.18 in early trading, Copper Mountain is down nearly 20% from its June high following the correction in Copper prices…

5. Orla Mining (OLA, TSX-V) jumped 8 cents to $1.38 on its best volume of the year yesterday after the company filed a technical report for its 100%-owned Camino Rojo Project in Zacatecas state, Mexico…Orla previously released the results of the PEA at the end of May…the mineral resource at Camino Rojo and the PEA support a technically simple open-pit mine and heap-leach operation that offers low capital and operating costs, rapid payback, and strong financial performance featuring a 38.1% pre-tax IRR (24.5% post-tax)…the project has an NPV(5%) of $231 million (U.S.), initial capex of $125 million (U.S.), a 3.3-year payback, with average annual Gold production estimated at 97,500 ounces…the PEA is based on near-surface oxide and partly oxidized (transitional) material within the overall resource…

6. The Globe and Mail reported today that the prospects for a massive gas export plant on the B.C. coast are looking bright…LNG Canada, the Royal Dutch Shell-led group that is considering construction of a $40 billion liquefied natural gas facility at Kitimat, is giving every indication that it is planning to approve the project…keep in mind, though, that B.C. Green Party leader Andrew “Wacky” Weaver has already stated his opposition to this LNG facility which would be the biggest industrial project in B.C. history…in March, Weaver sent a stern letter to LNG Canada President Andy Calitz, the second paragraph of which started as follows:  “As you know, British Columbia currently has a minority government, where the votes of our three caucus members provide confidence in Premier Horgan’s NDP government”…Weaver also cited the Paris Climate Accord in his opposition to the project, typical of the globalist left in this country which has a very difficult time putting Canada first…a flurry of activity this year in Kitimat has raised optimism that the project will be built, giving Canada a long-sought way to export its energy products to Asia…those hopes got a further boost in May, when Malaysia’s Petroliam Nasional Bhd took a 25% stake in the project…“All the actions that they’re doing, including Petronas buying into the plant, and the cap contracts and everything else that they’re doing, really indicate they’re very close,” said Dale Dusterhoft, CEO of Trican Well Service…“They’re just going through the list and ticking all the boxes”…Trican would see increased demand for its pressure-pumping rigs if Weaver and the B.C. Greens don’t get their way and kill more jobs in their insane pursuit of “saving the planet”…

7. The International Energy Agency (IEA) says the world’s Oil supply cushion “might be stretched to the limit” due to output disruptions across the globe…“Rising production from Middle East Gulf countries and Russia, welcome though it is, comes at the expense of the world’s spare capacity cushion, which might be stretched to the limit,” the Paris-based agency said in its monthly report released today…“This vulnerability currently underpins Oil prices and seems likely to continue doing so,” the IEA added…prices are also finding support from U.S. Crude inventories that continue to fall – they dropped by 13 million barrels last week, the most in nearly 2 years, reducing overall Crude stocks to their lowest point since February 2015…

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1. Gold has traded between $1,241 and $1,248 so far today…as of 7:00 am Pacific, bullion has rebounded $4 an ounce to $1,245 after yesterday’s weakness across the commodity sector…Silver has gained 11 cents to $15.89…oversold base metals are also recouping some of yesterday’s losses…Copper is up 3 cents to $2.81, Nickel has jumped 14 cents to $6.39 while Zinc has added a penny to $1.18…Cobalt is hovering around $32 a pound while Crude Oil is relatively unchanged at $70.32…the U.S. Dollar Index has added one-tenth of a point to 94.81…U.S. consumer prices barely rose in June, but the underlying trend continues to point to a gradual buildup of inflation pressures which is positive for commodities…the Labor Department said this morning that its Consumer Price Index edged up 0.1% last month as gasoline prices moderated and apparel prices fell…the CPI rose 0.2% in May…however, in the 12 months through June, the CPI increased 2.9%, the biggest gain since February 2012, after advancing 2.8% in May…

2. The International Energy Agency (IEA) says the world’s Oil supply cushion “might be stretched to the limit” due to output disruptions across the globe…“Rising production from Middle East Gulf countries and Russia, welcome though it is, comes at the expense of the world’s spare capacity cushion, which might be stretched to the limit,” the Paris-based agency said in its monthly report released today…“This vulnerability currently underpins Oil prices and seems likely to continue doing so,” the IEA added…prices are also finding support from U.S. Crude inventories that continue to fall – they dropped by 13 million barrels last week, the most in nearly 2 years, reducing overall Crude stocks to their lowest point since February 2015…

3. Philippines’ Nickel ore exports could drop by up to 17% this year, according to the president of the Philippine Nickel Industry Association…“As a whole, we expect exports this year to be less than what we saw last year because the price of low-grade Nickel now is weak,” stated Dante Bravo…the Philippines is the world’s #2 Nickel ore supplier after Indonesia, shipping the bulk of its output to top buyer China…there are 50 operating mines in the Philippines, 30 of which extract Nickel ore…but the industry, handcuffed by environmentalists and anti-mining government officials, contributes less than 1% to the country’s GDP…“The challenge is to be able to address the communication gap,” said Bravo.  “We are perceived to be damaging (the environment), rather than contributing to the economy. We need to be more understood”…

4. Despite Nickel’s recent pullback, thanks to overblown tariff fears, the metal is still up more than 60% from its June 2017 lows, due in part to falling inventories in China…on the Shanghai Futures Exchange, Nickel stocks have dropped for 24 straight weeks while LME warehouses are the emptiest since mid-2014…recent weakness has not altered a bullish longer-term outlook for Nickel with industry research house Wood Mackenzie adding its voice to the plus-column in a note that was issued Monday…while stainless steel production, currently 80% of total demand for Nickel, is expected to remain solid over the coming years, booming demand from the electric vehicle battery market is set to fundamentally alter the structure of the industry…Michael Sinden, WoodMac Research Director, and Senior Research Analyst, Rory Townsend say in their long-term outlook for Nickel that demand for the metal in EV batteries will be transformative for Nickel prices…“China’s Nickel pig iron production fed from Indonesdian and Philippine mines dominate the industry currently, but producing battery grade material from Class 2 Nickel is prohibitively expensive”…all the more reason why emerging new deposits such as Nickel Mountain, featuring some of the highest grades ever recorded in magmatic Nickel sulphide systems, with a pure style of mineralization, will play such a key role in expanding the electric vehicle revolution…

5. The Bank of Canada doesn’t seem to be as concerned as the mainstream media about current global trade tensions…the BOC hiked its benchmark interest rate yesterday, for the 4th time in a year, to 1.5%…“There was speculation that the bank would not move interest rates today because of the possibility of further trade measures,” Governor Stephen Poloz said in his opening statement, which the central bank uses to provide context and correct popular misconceptions…“The bank cannot make policy on the basis of hypothetical scenarios.  We felt it appropriate to set aside this risk and make policy on the basis of what has been announced”…Poloz, who also revised to the upside the BOC’s forecast for economic growth in the U.S. this year, added that the composition of growth in Canada is shifting…“Exports are being buoyed by strong global demand and higher commodity prices.  Business investment is growing in response to solid demand growth and capacity pressures, although trade tensions are weighing on investment in some sectors”…

6. The Dow is up 164 points through the first 30 minutes of trading…in Toronto, the TSX is 57 points higher as of 7:00 am Pacific while the Venture has added 1 point to 729…Kraken Robotics (PNG, TSX-V), which recently finalized its MOU on a strategic alliance with Ocean Infinity, has hit a new multi-year high of 33 cents in early trading…Kraken is a marine technology company focused on the production and sale of software-centric sensors and underwater robotic systems…it plans to organize a variety of deep-sea survey campaigns in various market sectors on the east coast this fall, including Oil and gas, hydrography, ocean research, fisheries, and defence…ML Gold (MLG, TSX-V) has mobilized drill crews on site to begin a 4,000-m, 10-hole summer drill campaign as part of a follow-up Phase 2 drilling program at the Stars Copper Porphyry Project in central British Columbia….

7. Corvus Gold (KOR, TSX), one of the top performing Gold stocks this year, has received additional encouraging results from resource expansion drilling on the western extension of its 100%-owned Mother Lode deposit…the most recent result, hole ML18–068, the westernmost hole drilled to date, returned 109.7 m grading 1.4 g/t Au from the feeder structure for the main Mother Lode deposit…this is the broadest intercept in the west zone feeder structure returned so far, further highlighting the importance of this new area which was also intersected in earlier reported holes ML18–067 (18.3 m at 4 g/t) and ML18–060 (24.4 m at 3.1 g/t)…assays from recently completed holes in the west zone (ML18–072 to 18–075) are pending and will be a priority follow-up target area in the upcoming Phase 3 program…additionally, Corvus has expanded its Mother Lode claim group by 120% covering the southeastern extension of its North Bullfrog Project to connect with the Mother Lode and AngloGold Ashanti’s Silicon Project…the large epithermal systems at North Bullfrog are of similar age and style to the Silicon system to the southwest and Barrick Gold’s historic Bullfrog mine to the south…

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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 $1,248 and $1,254 so far today…as of 7:00 am Pacific, bullion is off $4 an ounce at $1,251…overblown trade fears intensified again today, putting pressure on equity and commodity markets, after the Trump administration published late yesterday a list of 10% duties on $200 billion worth of Chinese goods…the tariffs won’t come into effect immediately, but rather face a review process with hearings taking place in mid-to-late August…the announcement came just days after both nations imposed $34 billion worth of tariffs on each other…Silver has slipped 15 cents to $15.87…Copper has fallen 10 cents to $2.77, Nickel has retreated 19 cents to $6.18 while Zinc is 4 cents lower at $1.16…Cobalt is up 34 cents at $33.23…Crude Oil has backed off 81 cents to $73.30 while the U.S. Dollar Index is down slightly at 94.15… 

2. NATO got called out by President Trump for its inconsistencies today as a 2-day summit commenced in Brussels…Trump focused on recent large energy agreements between certain European countries, notably Germany, and Russia – “you’re getting energy from the group you want protection from,” he noted…meanwhile, Trump vented his frustration at the vast majority of NATO countries including Canada who are not living up to their 2014 commitments to boost defence spending to 2% of GDP…Prime Minister Trudeau openly reneged on Canada’s commitment yesterday when he stated, “There are no plans to double our defence budget”…new figures released yesterday by NATO show Canada only spends 1.23% of GDP on defence…

3. Auto sales in China rose 4.8% in June from a year earlier to 2.27 million vehicles, an industry association said today, as demand remained on the upswing…the China Association of Automobile Manufacturers (CAAM) said overall sales during the 1st half of 2018 were up 5.6% from the same period a year prior, totaling 14.1 million vehicles…last month’s sales rise followed a 9.6% increase in May and 11.5% growth in April…auto sales in China, the world’s biggest vehicle market, have been rebounding steadily since February when sales volume fell 11.1%…

4. The Dow is off 151 points through the first 30 minutes of trading…Amazon, Netflix and Microsoft together this year are responsible for 71% of S&P 500 returns and for 78% of NASDAQ 100 returns…the 3 stocks make up 35%, 21% and 15% of S&P 500 returns, respectively, while making up 41%, 21% and 15% of NASDAQ 100 returns…Apple also makes up a large portion of both indexes, contributing 12% of both S&P 500 and NASDAQ 100 gains, while Alphabet and Facebook have contributed 8% each…in Toronto, the TSX is off 102 points as of 7:00 am Pacific…Osisko Mining (OSK, TSX) has discovered a new wide zone (“Triple 8“) of high-grade Gold mineralization at depth at its Windfall Lake Gold Project in the James Bay region of Quebec, intersecting 28.3 m of 20.4 g/t Au at a vertical depth of 1025 m (estimated true thickness is 20 m)…the Venture has slipped 4 points to 736…White Metal Resources (WHM, TSX-V) is bucking the trend, up a few pennies in early trading after announcing that it has discovered a new sulphide-mineralized area (the Totem zone) ai its Gunners Cove Gold Project in northern Newfoundland…the company is awaiting results from 15 surface grab samples taken from the Totem zone located about 18 km south of the original Gunners Cove “East and West Gunners Pit” discovery zones…the samples are described as sheared black shale and polymictic breccia with up to 10% pyrite in the form of nodules, cubes and stringers…evidence to date suggests that Gunners Cove represents an extensive and new unexplored Gold system which the company has traced intermittently for approximately 18 km along strike and is locally up to 1.3 km wide…Pure Global Cannabis (PURE, TSX-V) has commenced trading on the Venture this morning following an amalgamation and RTO…Pure Global is a growth-oriented life sciences cannabis company led by experienced pharma-industry, horticultural, and supply chain experts…the company is launching Canada’s first multi-ponic cannabis farm – a patent-pending system that is expected to produce several fold greater yields over traditional methods while reducing cost and eliminating pesticide and herbicide use…

5. Phase 2 delineation drilling at the Eastern Twin zone of Skeena Resources’ (SKE, TSX-V) Snip mine in the Eskay Heart of Gold Camp continues to encounter Gold grades and vein thicknesses which are significantly better than historical drilling programs…a significant intercept in this zone includes 16 g/t Au over 12.25 m (UG18–097) hosted within a thicker mineralized envelope grading 12.4 g/t Au over 20.75 m…continuity of the zone was further demonstrated 30 m down-dip in UG18–096 which cut 11.8 g/t Au over 12.20 m…the intercept in UG18–097 occurs only 5 m down-dip of historical drill hole UG-1706 which returned 36.8 g/t Au but over only 0.40 m, perhaps due to incomplete and selective sampling…Paul Geddes, Skeena’s VP of Exploration and Resource Development, stated:  “The company’s short-term goal of releasing a maiden resource for Snip is underway and we continue to validate and upgrade resource confidence in areas of historically poorly delineated mineralization.  The mindset of historic operators with respect to resource delineation and expansion was limited by the stringent economic constraintsthat existed in the 1990’s.  Today, with the vastly improved infrastructure available in the Golden Triangle and the marked increase in Gold price, the potential to mine one of the highest-grade, past-producing deposits in Canada at modern cut-off grades dramatically improves the economic viability at Snip”…

6. Pure Gold Mining (PGM, TSX-V) has extended the Madsen decline by 87 m and commenced test mining within the first of 2 planned stopes from the McVeigh zone…mining through 13 m of new linear development along the mineralized structure has returned muck samples averaging 18.8 g/t Au and chip samples averaging 15.3 g/t…results thus far have exceeded expectations in terms of grades and widths and have highlighted the clear visual nature of the mineralization…test mining is scheduled for completion in September with the planned extraction of approximately 7,200 tonnes of mineralized material…results will be used to demonstrate lateral and vertical continuity of mineralization, as a validation of the resource model, and to provide geotechnical data in support of the continuing definitive feasibility study (DFS)….the company says that mineralization mined thus far supports the geometry of the geological model, exceeds the estimated resource with respect to gold grades, and exhibits excellent geotechnical conditions…

7. New data show Canadian investment in clean technology has cooled off over the past 3 years, despite multiple programs introduced by federal and provincial governments to boost spending on green infrastructure and shift the country towards a lower carbon economy…Canadian private sector investment in clean technologies have fallen by half since 2014, dropping to a combined $9.4 billion (U.S.) over the past 3 years, compared with $19.5 billion (U.S.) between 2012–2014, according to data from Bloomberg New Energy Finance…

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