February « 2019 « BullMarketRun.com

The Template For The Next 10% Stake In Garibaldi Resources

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

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

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The Most Important Venture Development Since The New Bull Market Began

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February 27, 2019

7 @ 7:00

Visit the BMR comments section throughout the day for updates and helpful information!

1. Gold has traded between $1,322 and $1,330 so far today…as of 7:00 am Pacific, bullion is off $5 an ounce at $1,323…Silver has pulled back 13 cents to $15.75…strong technical support exists in the $15.70’s…base metals are holding firm…Copper is steady at $2.97, Nickel has added 5 cents to $5.88 while Zinc is up a penny at $1.25…the U.S. Dollar Index is flat at 96.02…Oil prices are up by $1 a barrel this morning, buoyed by an unexpected decline in U.S. Crude inventories and after Saudi Arabia appeared undaunted by pressure from President Trump to prevent prices from climbing much higher…Saudi Energy Minister Khalid al-Falih said OPEC and its partners were “taking it easy” in response to a tweet from Trump on Monday that called on the group to ease off on its restrictions on Crude production…“We are taking it easy. The 25 countries are taking a very slow and measured approach. Just as the second half of last year proved, we are interested in market stability first and foremost,” Falih said in Riyadh when asked to comment on Trump’s tweet…Falih added that he is leaning toward extending the deal to curb output into the 2nd half of 2019, but OPEC remains flexible and will assess market conditions before making a decision…President Trump is in Vietnam where he praised his “special relationship” with North Korean leader Kim Jong Un and said “a lot of things will be solved” during the 2 leaders’ historic second summit as they prepare for a full day of formal talks…meanwhile, as the North Korea threat eases thanks to a different approach than Obama took, Pakistan and India clashed in the skies over the nuclear-armed rivals’ disputed border today…each side said it had downed at least 1 warplane belonging to the other in a sharp escalation of hostilities that ended with Pakistan capturing at least 1 Indian pilot…Indian warplanes have struck inside Pakistan for the first time since a 1971 war, prompting world powers to urge restraint…

2. History shows that Big Gold, like Barrick’s (ABX, TSX; GOLD, NYSE) Mark Bristow is embracing with his proposed takeover of Newmont (NEM, NYSE), doesn’t always produce big results…over the past 5 years, Newmont and Barrick have gone in opposite directions, with Newmont producing a total return of 81.6% (in Canadian dollars) and Barrick saddling its shareholders with an 18% loss…the fact the latter has made a hostile all-share takeover bid below the former’s current share price is absurd…however, even Newmont has not matched the payoff of some stellar smaller miners, such as Kirkland Lake Gold (KL, TSX), Wesdome Gold Mines (WGO, TSX) and Endeavour Mining (EDV, TSX), who can be more focused…meanwhile, the recent mega mining mergers point to an uptrend in the mining industry, according to Corvus Gold (KOR, TSX) CEO Jeff Pontius, adding that there is a reason Nevada is at the centre of all the recent M&A activity…“Nevada turned out to be one of the cheapest places that we can actually operate as a Gold industry right now. And I think that is why it is the focus of all these big mergers right now,” Pontiuis told Kitco News on the sidelines of the BMO Global Metals & Mining Conference. “We do most of our economics based around $1,200 an ounce – that is the base case scenario. But, $1,350-$1,400 is all gravy for Gold guys”…

3. Amex Exploration (AMX, TSX-V) has pulled back modestly on news in early trading after climbing as much as 63% over the last 6 sessions…continuing drilling of the Eastern Gold zone (EGZ) at the company’s Perron Project north of Rouyn-Noranda has successfully expanded the high-grade zone (HGZ) laterally on both sides of previously identified mineralization…drill hole PE-19–27 intersected 56.75 g/t Au over 8.50 m including 581.6 g/t Au over 0.80 m at a vertical depth of about 225 m and a lateral distance of about 25 m to the east from the previously defined vertical section of the high-grade zone…the intersected mineralization consists of 2 quartz veins located on either side of a foliated and fine-grained mafic intrusive crosscutting a large unit of silicified rhyolite…each of these 2 quartz veins contains pyrite, sphalerite, and numerous visible Gold as coarse grains, flakes or points…an additional step-out drill hole, PE-19–26, intersected the 2 veins on both sides of the mafic intrusive with values of 5.7 g/t Au over 0.95 m and 9.3 g/t Au over 0.50 m at a vertical depth of about 160 m, but this time at a lateral distance of about 25 m to the west of the previously defined vertical section of the high-grade zone…a minimum lateral width of 50 m has now been confirmed with the results from PE-19–26 and PE-19–27 as well as from visual indicators from additional unreleased holes (assays pending)…the zone has now been intersected over a vertical distance of approximately 150 m and a lateral distance of 50 m pierce point to pierce point with a spacing varying from 25 to 50 m…the high-grade zone extends to a depth of approximately 275 m below surface and remains open toward surface, to depth and along strike…Amex completed a $5.4 million financing last week at 75 cents per unit with Eric Sprott subscribing for $3 million or 55% of the PP…

4. Pure Gold Mining (PGM, TSX) has provided the results of a PEA for its Fork, Russet South and Wedge deposits that demonstrate the potential to add approximately $51 million to the Madsen Gold Project after-tax net present value…as a result of high Gold grades, near-surface resources, and use of existing infrastructure, mining of these zones will yield an after-tax IRR of 39%…the results of this PEA highlight the prospective upside at Madsen-Red Lake, the economic viability of Madsen, and demonstrates how Pure Gold would phase new discoveries into future mine plans…based on the current resource, development of these new discoveries could add approximately 4 years of production at below-industry average cash costs while generating robust cash flows…”Our PEA provides us with a blueprint of how we could expand our mine life and production profile at Madsen, and illustrates just how impactful and accretive new discoveries can be to the future of our district,” stated Darin Labrenz, President and CEO of Pure Gold. “We have deployed a modest amount of capital in discovering and delineating these new resources and the return on our investment is exceptional. This PEA, represents the first conceptual expansion scenario for the future phased growth of the Madsen mine complex”…

5. The Dow, aiming for a 10-week winning streak, is off 53 points after 30 minutes of trading…in Toronto, the TSX is 50 points lower…Tim Hortons (QSR, NYSE) opened its first Chinese store yesterday, and the iconic Canadian coffee and doughnut chain is making no secret of its ancestry despite simmering political tensions between the two countries…the store in Shanghai – the first of a planned 1,500 – has hockey sticks for door handles and abundant maple leaves, on cups and dusted on the tops of lattes…the Venture has lost 2 points to 622…Canopy Rivers (RIV, TSX-V) has closed its previously announced bought deal and concurrent private placement for total gross proceeds of approximately $93.5 million…Canopy Rivers works collaboratively with Canopy Growth (WEED, TSX; CGC, NYSE) to identify strategic counterparties seeking financial and/or operating support…First Vanadium (FVAN, TSX-V) was halted market with the company announcing a resource estimate for its Carlin Vanadium deposit near Elko, Nevada…Indicated resources are 24.64 million tons grading 0.615% V2O5 while Inferred resources are 7.19 tons @ 0.52% V2O5 at a cut-off of 0.30%…the resource as defined within the pit shell has a defined strike length of approximately 1,800 m and width averaging 600 m, starting at surface to depths of 120 m…the thickness of the main mineralized zone ranges from 15 m to 50 m…Benchmark Metals (BNCH, TSX-V) has added 1,751 hectares of new claims to its Lawyers Gold and Silver Project in the Golden Triangle….the new claims are contiguous to the southeast, increasing the Lawyers’ land package to nearly 120 sq. km, where there is good potential for finding additional Gold-Silver mineralization…CEO John Williamson commented, “The Lawyers trend is emerging as an important regional-scale prospect that follows a linear magnetic and radiometric anomaly with a northwest to southeast orientation connecting multiple Gold-Silver showings across the Lawyers land package. Several lines of evidence now support the potential that this anomaly may represent a regional-scale structure providing a conduit for gold- and silver-bearing fluids”…

6. CSE success story: Koios Beverage (KBEV, CSE) is the big mover on the CSE this morning, up 19 cents at 56 cents as of 7:00 am Pacific after the company announced the signing of a vendor agreement with Walmart (WMT, NYSE)…Koios developed a proprietary nootropic formula that has been shown to enhance brain function, including mental focus, memory, and concentration…its formula includes superfoods such as lion’s mane mushroom, which contains bioactive substances with beneficial effects on the body, brain, heart, and gut…the company produces the formula as a line of healthy, organic beverages and drink powders…launched last year, the Koios brand had been carried primarily in several health store chains, and various grocery chains until December when GNC – the largest health and wellness company in North America – initiated a vendor partnership…now, Walmart will soon be adding the Koios beverage line to its new functional beverage set…initially, Koios products will be available in 1,094 Walmart locations across the United States…the retail giant will carry Pear Guava, Blood Orange and Peach Mango beverages…the products will also be available through Walmart’s online portal and in stores starting April 1…

7. It’s unacceptable to have Canadian resource projects held hostage to internal strife within a native band...many native bands in Canada can’t even manage their own affairs properly, yet they insist on what amounts to veto power over resource projects in this country…The Globe and Mail reported this morning that Wet’suwet’en Nation chiefs who oppose TransCanada’s Coastal GasLink pipeline route in British Columbia stripped hereditary titles from 3 indigenous women who support the project…the women formed the Wet’suwet’en Matrilineal Coalition (WMC) in August, 2015, hoping that it would lead to a collective decision-making body…internal strife within the Wet’suwet’en Nation has grown in recent years, with conflict between hereditary chiefs administering their unceded territories (passed down through oral traditions) versus elected band councillors on reserves (codified by federal law)…it has placed a spotlight on the challenges faced by resource companies and governments when pursuing energy projects in British Columbia…the women say they have been ostracized behind the scenes since forming WMC and want to bring their case into the public light….the 3 indigenous women say they launched WMC in an effort to encourage Wet’suwet’en members to make informed decisions about contentious issues…hereditary chiefs say non-indigenous opposition from environmentalists to Hollywood celebrities is mounting against plans for the 670-km route – all the more reason, of course, for Canadian politicians to show leadership and backbone…they must stand up for Canada to prevent a fringe minority, partially organized and funded by foreign sources from Hollywood and elsewhere, from destroying jobs and eroding economic opportunities in this country…

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February 26, 2019

7 @ 7:00

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 $1,323 and $1,330 so far today…as of 7:00 am Pacific, bullion is off $2 an ounce at $1,325…Silver has pulled back 4 pennies to $15.81…Palladium, which briefly shot above $1,550 yesterday for the first time, is up $25 an ounce at $1,543 as a worsening supply scenario unfolds…at least 15 mining firms in South Africa, a major producer of the metal, have received notices of strikes to be held later this week, providing further impetus to the metal’s gains…Palladium has risen more than 21% so far this year on a sustained supply deficit…Copper has eased off a penny to $2.95…Nickel is 2 cents lower at $5.81 while Zinc is unchanged at $1.24…Crude Oil has added 21 cents a barrel to $55.69 while the U.S. Dollar Index is off slightly at 96.35…in his semi-annual Congressional testimony on the state of monetary policy, Federal Reserve Chairman Jerome Powell told a Senate committee this morning that the U.S. economy remains strong but “financial conditions are now less supportive of growth than they were earlier last year”…on the balance sheet roll-off specifically, Powell says the Fed is prepared to “adjust” the program if conditions warrant…American consumers were feeling more confident this month…the Conference Board says its consumer confidence index rose sharply to 131.4 from 121.7 in January…the index measures consumers’ assessment of current economic conditions and their expectations for the next 6 months…both rose in January…consumers’ views of today’s economy were the most optimistic since December 2000…however, the Commerce Department reported this morning that housing starts fell 11.2% in December from the previous month to the slowest pace of construction since September 2016…

2. As the 3rd most-used industrial metal in the world, after Iron and Aluminum, the fact that Copper has pushed through important resistance at $2.90 is encouraging for metals in general and the the outlook for emerging markets, not to mention the Venture…the next key price point, of course, is $3, but the metal’s bullish technical posture since last year’s lows in the $2.50’s strongly suggests we’ll see Copper conquer the $3 level in the near future…broken down by sector, Copper demand is 65% electrical, 25% industrial and 10% transportation…because it has so many uses all over the economy – homebuilding, manufacturing, power generation, electronics and transportation – it has proven to be an effective barometer of economic health across the globe…

3. A war of words is heating up between Barrick Gold (ABX, TSX; GOLD, NYSE) and Newmont Mining (NEM, NYSE) following Barrick’s hostile $17.8 billion (U.S.) takeover bid for Newmont…Barrick says its all-share, no-premium transaction is a “once in a lifetime” opportunity to create a Gold titan…Barrick touted the present value of all future cost savings from the deal at $7 billion…trading yesterday and early today suggests that many investors are less than impressed…Barrick is offering 2.5694 shares for each Newmont share, which works out to $32.40 per share with Newmont currently trading at $35.82 in New York…of course it’s impossible to support a deal where you would essentially tender your shares and have them be worth less than where they’re trading today…meanwhile, Newmont is in the process of completing a friendly transaction to buy Goldcorp for $10 billion…Barrick boss Mark Bristow extolled the virtues of a Barrick/Newmont tie-up, and criticized the Newmont/Goldcorp deal as “ill advised, desperate and bizarre, and lacking substantial business synergies”…Newmont slammed Barrick’s “poor track record on delivering shareholder returns”…since 2014, Barrick shares are down 22%…Newmont’s shareholder returns, including reinvested dividends, are up 65% over the same period…Barrick is going to have to pay much more if it wants to bag Newmont…

4. Tesla (TSLA, NASDAQ) CEO Elon Musk lashed out at the Securities and Exchange Commission today, one day after the agency asked a judge to hold him in contempt for allegedly violating the terms of a deal made last year…“Something is broken with SEC oversight,” Musk said on Twitter this morning…the CEO said that Tesla would make “around” 500,000 vehicles this year, clarifying about 4 hours later that he “meant to say” the company’s annualized production rate at the end of 2019 could be around 500,000 vehicles…total deliveries for the year are still estimated at 400,000, Musk said…“Musk did not seek or receive pre-approval prior to publishing this tweet, which was inaccurate and disseminated to over 24 million people,” the SEC wrote in the court filing…the Tesla chief responded to the SEC decision hours later, tweeting: “SEC forgot to read Tesla earnings transcript, which clearly states 350k to 500k. How embarrassing”…

5. The Dow, aiming for a 10-week winning streak, is off 59 points after 30 minutes of trading…in Toronto, the TSX is 34 points higher while the Venture has added 2 points to 625…American Pacific Mining (USGD, CSE) has increased its previously announced financing at 10 cents to $1.3 million with the PP expected to close next week…USGD is exploring an attractive high-grade Gold opportunity in Nevada…strong technical support at the 14-cent breakout point…Miramont Resources (MONT, CSE) has signed an option agreement to acquire the An An concession adjacent to its existing Cerro Hermoso Project in Peru where a drill program is in progress…Miramont has now consolidated a total of 1,886 hectares at the project with the addition of this 568 hectare concession…An An borders the Cerro Hermoso on its southeast boundary…drilling at Cerro Hermoso is testing 3 priority targets known as the Stockwork zone, the Central Breccia zone and the Carbonate Replacement zone…this is a large and energetic mineral system located along a regional trend of epithermal and CRD deposits…coincident magnetic and chargeability IP anomalies indicate a potential buried intrusion which may have driven a lot of the action in the broader area…MONT is unchanged at 39.5 cents as of 7:00 am Pacific…strong support at the rising 50-day SMA, currently 37 cents…

6. Galway Metals (GWM, TSX-V) has drilled 5.4 g/t Au over 11 m, including 20.9 g/t over 2.55 m, according to first assays (more to come) from another hole of its previously reported new Gold discovery at the Clarence Stream Gold Project in southwestern New Brunswick…the new Gold zone is in an area where there has been no previous drilling, centered between the George Murphy and Jubilee Zones, approximately 1 km from each…the discovery hole, BL18–12, returned 7.3 g/t Au over 36.7 m, including 38.1 g/t over 6.5 m in multiple quartz veins containing abundant visible Gold, starting only 51 m downhole and 36 m vertical…follow-up drilling in hole BL19–15 intersected 5.4 g/t Au over 11 m, consisting of all the initial rush samples (assays pending on both ends and for the remainder of the hole), including 20.9 g/t Au over 2.55 m…this hole intersected visible Gold twice, approximately 50 m NW of and 97 m vertically below the VG seen in BL18–12…BL-19–13, meanwhile, cut 2.5 g/t over 6.85 m including 7.1 g/t over 2.2 m, plus 13.4 g/t over 1.4 m at vertical depths of 71 m and 35 m, respectively…the new discovery in holes BL18–12, BL19–13 and BL19–15 represents the 2nd zone that Galway has found since the company began drilling Clarence Stream in October 2016…only 2 of them, the North and South zones, are in the existing resource which is scheduled to be updated later this year…the new discovery will be named the Richard Zone in honour of Rob Richard who is responsible for making the discovery…‘The Richard Zone main vein now has been intersected twice, with both holes containing nice visible Gold and returning high-grade intersections. Once we do the downhole optical work to confirm the orientation of the veining, and finish the current Jubilee Zone drill program where we are targeting expansion of the deposit ahead of the resource update later this year, we’ll return to the Richard Zone. Two high-grade holes 100 m apart are likely suggesting there is more to come,’‘ stated Robert Hinchcliffe, President and CEO…

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February 25, 2019

7 @ 7:00

Visit the BMR comments section throughout the day for updates and helpful information!

1. Gold has traded between $1,324 and $1,333 so far today…as of 7:00 am Pacific, bullion has gained $3 an ounce to $1,331…the Gold rally could have further to go if hedge fund managers ramp up their bullish bets after last year’s big short…money managers remain only modestly allocated to the metal, according to futures positions…“Reluctance lingers, and the risk is that with many market participants waiting to buy dips, there could be a lot of catching up to do if positive catalysts extend,” wrote Joni Teves, strategist at UBS Group…a series of higher highs and higher lows indicates that both Gold and Silver have quite a bit further to climb in 2019…Silver has added a penny to $15.90…Copper is pushing through the critical $2.90 level, up another 2 cents at $2.96…Nickel is up slightly at $5.84 while Zinc is flat at $1.24…Crude Oil has fallen 96 cents to $56.30 while the U.S. Dollar Index is off slightly at 96.44…in the week ahead, investors will be watching for February consumer confidence due tomorrow, 4th quarter GDP growth estimates on Thursday, and December core inflation on Friday…the consensus among most economists for U.S. GDP growth is 2% in the final 3 months of the year, down from 3.4% in the 3rd quarter…

2. President Trump said yesterday he would delay an increase in tariffs on Chinese goods set to take effect at the end of this week, citing “substantial progress” on issues including intellectual property and technology transfer after a weekend of talks…this gave the metals sector and equity markets another boost…in a tweet, Trump wrote that should progress continue, the U.S. would plan a summit with President Xi Jinping of China to “conclude an agreement” that would settle a year-long trade fight between the 2 nations…Trump’s tweets didn’t specify how long the extension of a trade truce would last or any date for a potential summit…U.S. tariffs on $200 billion of Chinese goods had been scheduled to rise to 25% from 10% on March 1…in recent talks, Beijing apparently offered to increase purchases of U.S. farm and energy products and services, ease restrictions on U.S. firms in financial services and auto manufacturing and improve protection of U.S. intellectual-property rights…

3. Trump remains determined to keep Oil prices (and therefore inflation and interest rates) in check…Oil turned sharply lower this morning, tumbling more than 2%, after Trump urged OPEC to lower the cost of Crude in an early morning tweet…“Oil prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike – fragile!”, he tweeted…the message comes 2 months into a fresh round of price-boosting production cuts from OPEC and other nations…the producers meet in mid-April to review the deal, which is scheduled to last through the first 6 months of 2019…last fall, as producers were hiking output in a strong Oil price environment, Trump surprised Saudi Arabia and the rest of OPEC by allowing some of Iran’s biggest customers to continue importing its Oil as sanctions snapped back into place, contributing to a sudden collapse in prices…Trump has made it clear through multiple actions and tweets, and even in a news conference last November, that he wants to keep Oil prices down in order to help maintain and accelerate economic growth…

4. 2019 will clearly be the year of M&A in the Gold sector…Barrick Gold (ABX, TSX; GOLD, NYSE) is going hostile in its bid to acquire Newmont Mining (NEM, NYSE) and create the world’s largest Gold producer by offering $17.8 billion (U.S.) for the company in an all-share deal…the offer raises the potential for a 3-way fight (Newmont is in the process of acquiring Goldcorp) and comes after Newmont’s CEO blasted talks about a takeover as a “desperate” and “bizarre” move by Barrick…the latter said it’s offering “at market” valuation of 2.5694 a share for each Newmont share…that implies that it’s valuing Colorado-based Newmont at $17.8 billion or $33.50 (U.S.) a share, an 8% discount to Friday’s close…Barrick President and CEO Mark Bristow said the deal would unlock more than $7 billion net present value (pre-tax) of real synergies, a major portion of which is generated by combining the 2 companies’ highly complementary assets in Nevada, including Barrick’s significant mineral endowments and Newmont’s processing plants and infrastructure…“The combination of Barrick and Newmont will create what is clearly the world’s best Gold company, with the largest portfolio of Tier One Gold assets and the highest level of free cash flow to drive future growth and support sustainable shareholder returns, run by a management team with an unparalleled record of delivering value,” he said…Bristow added that a Barrick/Newmont deal is a logical and long overdue imperative for shareholders that would be far superior to Newmont’s proposed acquisition of Goldcorp with expected Barrick/Newmont annual synergies 7.5 times larger than the quoted annual synergies for the Newmont/Goldcorp transaction…a Barrick/Newmont merger would result in an estimated 14% uplift in Newmont’s current NAV per share, offering Newmont shareholders an investment in a company of a much higher quality with a better asset base, significant liquidity, a strong balance sheet and a proven management team…on Friday, Newmont announced that its $10 billion deal to purchase Goldcorp is moving forward after the latter obtained an interim plan of arrangement, throwing cold water on the idea that Newmont is interested in a merger with Barrick…a deal with Barrick, however, would be attractive to some Newmont shareholders due to the companies’ interests in Nevada and how a merger could lead to substantial cost savings through shared operations…about 25% of Newmont’s stock is owned by U.S.-based BlackRock and Vanguard…

5. The Dow, riding a 9-week winning streak, is up 150 points after 30 minutes of trading…in Toronto, the TSX is 42 points higher…the Venture, trying to overcome nearest Fib. resistance at 623, is up a point at 624…Azimut Exploration (AZM, TSX-V), which has the ability to deliver some high-grade Gold numbers this year, was halted pre-market, pending news…iMetal Resources (IMR, TSX-V) has further expanded its maiden drill program at Gowganda West into March after completing the first 5 holes…the 4th and 5th diamond drill holes at Gowganda West extended the first 3 holes 50 m to the north and 50 m to the south…core from those holes will be logged in the coming days, but an additional review of the first 3 holes further supports a widespread hydrothermal system with abundant fine-grained pyrite, pervasive silicification, quartz-carbonate veining and very distinctive Timiskaming-like red jasper conglomerate…this package within a sedimentary basin is considered to be an ideal host for Gold…Johan Grandin, iMetal’s President and CEO, commented, “First-ever drilling at Gowganda West is off to a highly encouraging start. What we observed at surface in our successful sampling program is being intersected at depth, and that’s what’s most exciting. We look forward to continuing the drill program into March”…

6. Chemesis International (CSI, CSE), which hit a new high of $2.13 earlier this month, is under pressure in early trading after announcing a non-brokered private placement of up to $5.8 million (CDN) or 3,152,174 units at a price of $1.84 per unit (each unit = 1 share and 1 share purchase warrant with each warrant exercisable for another share at $2.50 for 2 years)…the Offering will be led by New York based Global Emerging Markets and participation from Canadian institutional investors…“The funds are intended to be utilized as working capital for our operations within our state-of-the-art extraction facility in California,” stated Chemesis CEO Edgar Montero…“We believe this financing will allow us to capture greater market share by increasing our oil production, developing additional proprietary product formulations and expanding our distribution infrastructure throughout California. The company sees tremendous growth potential within California, and believes it can expand to meet future demands”…CSI has pulled back on the news, down 22 cents at $1.82 through the first 30 minutes of trading…Khiron Life Sciences (KHRN, TSX-V) also dipped after announcing its recent financing but quickly bounced back to new highs…

7. GoldSpot Discoveries (SPOT, TSX-V) is unchanged at 55 cents in its 3rd day of trading on the Venture…SPOT is a technology company that leverages machine learning to reduce capital risk, while working to increase efficiencies and success rates in resource exploration and investment (unique in its space, and a favorite of Frank Holmes)…U.S. Global Investors, in connection with the completion of Goldspot’s qualifying transaction, carried out a strategic investment in the company…U.S. Global has exposure to 7.1 million shares of GoldSpot, or approximately 8% of outstanding shares of the company (GoldSpot closed a $7.56 million equity financing on February 1)…in connection with the investment, Holmes, CEO and Chief Investment Officer of U.S. Global, a leading mutual fund and asset management firm, has agreed to serve as a director of GoldSpot and has been appointed the independent Chairman of the Board of Directors of the Company…

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