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

1. Spot Gold has traded between $1,780 and $1,761 so far today…as of 7:00 am Pacific the yellow metal is unchanged at $1,767 after hitting nearly an 8-year high…ETF inflows continued yesterday with holdings in SPDR Gold Trust up another 0.28% to their highest level since April 2013…Silver has slipped 30 cents to $17.65…Copper is steady at $2.68…Nickel is off slightly at $5.67 while Zinc is steady at 92 cents…Crude Oil is 77 cents lower at $39.60 while the U.S. Dollar Index has rebounded one-third of a point to 96.98…Germany’s closely watched Ifo business sentiment index rose by a record amount in June, coming in at 86.2 from 79.7 in May…“German business sees light at the end of the tunnel,” said the Ifo report…this is just the latest piece of data suggesting major global economies are healing faster than most economists had expected…has the left in North America turned completely nuts?…as the “defund the police” movement intensifies, raising the stakes for November’s elections, Oakland Mayor Libby Schaaf stated yesterday that police officers should be replaced by public employees who can respond to traumatic scenes and other situations she described as unrelated to law enforcement…“We are excited, as many cities are, to reimagine public safety,” Schaaf said during a call with 3 other mayors, “and that means not just to reform the police, but to replace the police with more trauma-informed and care-based, community-led responses that really don’t warrant a badge and a gun”…meanwhile, Walmart Canada says it’s investigating to see if items sold on its website breach the company’s “terms and conditions” after social media users expressed outrage over “All Lives Matter” and “Blue Lives Matter” products on its site…Walmart has been selling clothing with the “Lives Matter” slogans, including items featuring the phrases “All Lives Matter” and “Blue Lives Matter” (in reference to the police), sparking criticism in the wake of recent BLM protests against “systemic” racism and police brutality…“What is there to ‘look into’? It’s racist. Remove it,” tweeted one user…what kind of a world are we in when stating that “all lives matter” or “blue lives matter” is condemned (by liberals) to be “racist”?…all lives DO matter…

2. Parts of the U.S. are beginning to see a surge in COVID-19 infections, not surprising given recent protests across the nation in addition to reopening measures…while New York state is seeing a decline in cases, other states are seeing a jump in cases that “reflects an increase in community spread,” stated Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, during a hearing before the House Energy and Commerce Committee…as of Monday, the U.S. 7-day average of new COVID-19 infections increased more than 30% compared with a week ago, according to Johns Hopkins University data…cases are growing by 5% or more in 26 states, including Arizona, Texas, Florida and Oklahoma…hospitalizations, a better indicator, are on the rise as well…Texas Gov. Greg Abbott and Florida Gov. Ron DeSantis said they would step up enforcement of physical-distancing guidelines…meanwhile, Washington State Governor Jay Inslee announced yesterday that the state will impose a mandatory requirement effective this Friday that people wear face coverings or masks in indoor public spaces and outdoors where 6 feet of physical distancing is not possible…California has done the same…

3. Vizsla Resources (VZLA, TSX-V) jumped out of the gate robustly this morning following yesterday’s halt and news of a high-grade discovery in the Napolean vein corridor of its Panuco Silver-Gold Project in Sinaloa, Mexico…5 holes have been completed to date and results have been received for the mineralized intervals of 2 holes, NP-20–02 and NP-20-03, with high grade intercepts returned…the company, which completed a $4.6 million bought deal financing last week at 43 cents a share, has restarted exploration and currently has 2 drill rigs operating on the property…NP-20–02 returned 738.9 g/t Ag and an impressive 11.1 g/t Au over 8.2 m starting just 108.6 m downhole, including 1,527.5 g/t Ag and 24.9 g/t Au over 2 m…meanwhile, NP-20–03 returned 453.8 g/t Ag and 9.2 g/t Au over 2.5 m from 76 m in addition to 309.3 g/t Ag, 8 g/t Au, 2.2% Pb and 4.75% Zn over 5.1 m from 102 m (true widths estimated at 46% to 66% of downhole lengths)…the main high-grade hangingwall vein intersected in holes NP-20–02 and NP-20–03 has a true width of between 3.4–5.3 m…the drill rig has been moved north and is drilling beneath the old Napoleon mine in hole NP-20–06…the hole is currently in progress and has intersected veins 60 m to the north of hole NP-20–03…Vice President of Exploration Charles Funk commented: “These results are a very exciting discovery for Vizsla with multiple veins intersected in drilling containing very high-grade Silver, Gold and base metals. These holes are the first ever drilled on the Napoleon vein which extends over more than 2 km of strike and hosts multiple small-scale mines and mineralized outcrops. Drilling is ongoing with two deeper holes and a hole in progress 60 m to the north of NP-20–03, all which have each intersected veins. Vizsla is continuing to step out to expand and define the footprint of mineralization at Napoleon”…the Napoleon Vein Corridor is located almost entirely on concessions optioned from Rio Panuco which Vizsla has the right to purchase 100% of including the 500 tonne per day El Coco mill, tailings facility, roads, power and permits for a total of $23 million (U.S.)…VZLA opened at 62 cents and is holding above that level on high volume in early trading, a sign of strength…it’s up 27 cents at 71 cents as of 7:00 am Pacific for a market cap of $48.8 million…the stock hit an all-time high in the 90’s late last year…

4. The Dow is under pressure in early trading due to COVID-19 concerns…as of 7:00 am Pacific, the index is off 432 points…with the S&P 500 up more than 21% for the quarter so far (coming into today), strategists are handicapping the likelihood that pensions and other funds and investors will sell some of their big stock market gains and buy bonds and/or precious metals in the course of the next week…estimates of how much could move out of the stock market are wide ranging…JPMorgan analysts say if stocks lose ground as a result, it would be a buying opportunity…in Toronto, the TSX has fallen 200 points…the Gold Index is holding steady at 331…the Venture is unchanged at 575…GoGold Resources (GGD, TSX) has drilled 11 m grading 424 g/t Silver equivalent in the northernmost hole drilled to date at its Los Ricos South Project in Mexico…drill hole LRGG-20–77 intersected the Los Ricos quartz vein from 104 to 143 m for 39 m of 151 g/t Silver equivalent (2 g/t Au and 117 g/t Ag), including the higher-grade intercept of 11 m @ 424 g/t AgEq…GGD has slipped a penny to 92 cents…Freegold Ventures (FVL, TSX), continuing to look strong, is off a penny at 82 cents…interesting deal announced by Graphite Energy (GRE.X, CSE) this morning…the company announced it has entered into an agreement, with 3rd party arm’s-length vendors, to acquire 100% of a company that controls 7 tenements that are “highly prospective for Gold mineralization in Western Australia”…Graphite Energy, with only 8.8 million shares outstanding at the moment, will change its name and complete a $2 million financing at 20 cents per unit…

5. Alexco Resource (AXU, TSX) has arranged a $20 million bought deal hard dollar financing at $2.73 a share…no warrant is included…Wheaton Precious Metals (WPM, TSX) is the lead order for $5 million…meanwhile, Alexco also announced this morning that it has received a draft amended and renewed water use licence for the Keno Hill Silver district from the Yukon Water Board…with this in hand, the company is moving forward with final development of its mines at Keno Hill, anticipating initial concentrate production and Silver sales in Q4 2020…separately, Alexco is also mobilizing personnel and equipment to begin the Bermingham deep surface exploration drilling program next month…this 4,000+ m drill program will test for offsets and extensions of the previously discovered Silver mineralization approximately 200 m vertically below the NE Zone of the Bermingham deposit, which overall contains an Indicated Mineral Resource of 32.9 million ounces of Silver at an average grade of 930 g/t…the 2020 exploration drilling will be focused at depth, approximately 250 m along strike northeast of the Silver mineralization discovered in 2019, where best results returned 1,414 g/t Ag over an estimated true width of 8.15 m in the Bermingham Footwall vein structure…

6. Superior Gold (SGI, TSX) has found more high-grade Gold in its continuing underground diamond drill program focused on reserve and resource expansion at its 100%-owned Plutonic Gold mine in Western Australia…drilling is targeting potential extensions to the Gold mineralization in the area between the Baltic and Baltic Deeps Zones…drill hole UDD22310 cut 40.4 g/t Au over 6.50 m, including 232 g/t over 0.90 m, while drill hole UDD22309 returned 12.4 g/t over 4.1 m…the drilling was focused on the area vertically between the Baltic and Baltic Deeps mineralized zones which has not previously been tested…Chris Bradbrook, President and CEO, stated: “These drill results…(further) illustrate the potential to extend the Baltic Zone and connect it towards the Baltic Deeps mineralization. This potential was first illustrated in an earlier set of drill results that was published in late 2019. The most recent drilling was completed over a strike length of approximately 150 m and a vertical extent of more than 120 m. Mineralization remains open both up and down dip and along strike, in addition to being close to existing infrastructure. The Baltic and Baltic Deep Zones are key components of the 5-year underground Life of Mine (“LOM”) plan that was announced in October 2019, and consequently, these results illustrate the potential to expand resources used in this plan. These latest results, together with our most recent underground exploration update, continue to confirm the potential of the mineralized system at the Plutonic Gold mine to deliver positive exploration results, and illustrate the potential to increase overall resources”…

7. The global pandemic is set to pave the way for “The Age of Copper”, according to the director of energy, climate and resources at Eurasia Group, as governments double down on investments that will drive up demand for the red metal…Copper is widely seen as a bellwether for the general state of the economy and has rebounded sharply since its Corona Crash low when it touched the bottom of the uptrend line on its long-term chart. Earlier this month, Copper pushed above its 200-day moving average (SMA)…3 favorite BMR Copper stocks are GT Gold (GTT, TSX-V), Copper Mountain (CMMC, TSX) and Ero Copper (ERO, TSX)…Eurasia Group’s Henning Gloystein said in a research note yesterday that the pandemic is expected to accelerate trends in government-supported environmental investments and digitalization, which “heralds a coming boom in Copper demand. Huge green and digital stimulus programs, especially in Asia and Europe, will create the conditions for a boom in Copper demand – electric vehicles, 5G networks, and renewable power generation all require large amounts of the red metal”…shifts in transportation are expected to be the “biggest single driver of Copper usage”, Eurasia Group stated…“The electric vehicles industry currently makes up just 1% of Copper demand. By 2030, many analysts expect that figure to reach 10%”…

Rapid Response!

How This Pandemic Will Ultimately Help Copper

Wuhan COVID-19 Virus Update

The Cost Of Doing Business With China (The CCP)

“Silver Lining”: Innovative Vancouver Company Provides Help During Crisis

COVID-19 Update

Smithers Shakes Off Turmoil For A Major 3-Day Event Connecting Hockey And The Resource Sector

Turbocharged Nickel

Commodity Check!

The Nickel Mountain Magma Highway

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

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

1. Spot Gold has traded between $1,740 and $1,764 so far today…as of 7:00 am Pacific the yellow metal is up $17 an ounce at $1,761…SPDR Gold Trust, the world’s largest Gold-backed ETF, said its holdings rose 2.03% to 1,159.31 tonnes on Friday from 1,136.22 tonnes on Thursday…this formed the lion’s share of the biggest daily ETF inflow into Gold since January, according to Commerzbank…Silver has shot up 38 cents to $18.00…Copper continues its winning ways, up another 4 cents at $2.66…Nickel is off slightly at $5.72 while Zinc is steady at 94 cents…Crude Oil is flat at $39.71 while the U.S. Dollar Index has slipped more than one-third of a point to 97.21…prices for important raw materials including Copper are surging as the world economy reopens for business, a signal to many investors that global growth is returning more quickly than anticipated…China is the world’s dominant commodity consumer, and the uptick in economic activity there and elsewhere signals that the global economy is in the initial stage of healing from the pandemic…we’re seeing that reflected in Copper prices in particular…historically, the recovery phase following economic downturns corresponds with big increases in materials prices…U.S. economic news this week is highlighted by tomorrow’s preliminary Market PMI’s for June, expected to jump higher to reflect the reopening in most states…personal income and spending data for May will hit the markets to end the week on Friday and will likely continue the trend of significant improvement…keep in mind that the Citigroup Economic Surprise Index for the U.S., a gauge of whether growth figures are generally meeting expectations, has risen to its highest level on record in data going back to 2003…

2. A record $2 trillion surge in cash hit the deposit accounts of U.S. banks since the Wuhan COVID-19 virus first struck the U.S. in January, according to FDIC data…the wall of money flowing into banks has no precedent in history: in April alone, deposits grew by $865 billion, more than the previous record for an entire year…it’s the banking world’s version of the rich getting richer…banks are so flooded with cash, they’re like Scrooge McDuck swimming in money…deposit gains were concentrated at the very top of the industry: JPMorgan Chase, Bank of America and Citigroup grew much faster than smaller firms in the 1st quarter, according to company data…the gains were all driven, in one way or another, by the response to the pandemic…the government unleashed hundreds of billions of dollars to bolster small businesses and individuals via stimulus checks and unemployment benefits…the Federal Reserve began a barrage of efforts to support financial markets, including an unlimited bond buying program…and an uncertain future prompted decision makers, from two-person households to global corporations, to horde cash…one consequence of this boom: Banks will likely lower their already paltry interest rates…this also has consequences for Gold…

3. The Dow, which has posted 4 weekly gains out of 5, is relatively unchanged through the first 30 minutes of trading…UBS upgraded Walmart (WMT, NYSE) this morning, saying the company won new customers during the pandemic and established itself as the 2nd major e-commerce player behind Amazon…“It’s improved execution and successfully changed the narrative of its story from that of a mature brick and mortar retailer to being a viable #2 in eComm,” UBS noted…in Toronto, the TSX is 20 points higher, buoyed by a significant jump in the TSX Gold Index which is up 14 points at 330…the red-hot Venture has added 8 points to 575 as it quickly approaches key resistance in the upper 580’s…Roscan Gold (ROS, TSX-V) is on the move in early trading after announcing that it has drilled 5.2 g/t Au over 65 m, including 4 m @ 17.3 g/t, near-surface at its Mankouke South target…the regional upside potential of the Kandiole Project, outside Mankouke South, is considerable with 7 key targets…initial drilling at the Kandiole prospect returned a core interval of 4 m grading 11.3 g/t…GT Gold (GTT, TSX-V) has broken out aggressively above a downtrend line intersecting through about $1.60 going back to 2017…it’s up another 8 cents at $1.76…Skeena Resources (SKE, TSX-V) has hit a new high of $1.74 in early trading as it prepares for a major new phase of drilling at Eskay Creek…Northwest B.C. will be hot again this summer, led by multiple plays including upstart Auramex (AUX, TSX-V) which is expected to soon close a $6 million private placement as part of a major reorganization…Freegold Ventures (FVL, TSX), which shot up nearly 30% last week as drilling recommenced at its high-grade Golden Summit Project near Fairbanks, is off 2 pennies at 78 cents…Else Nutrition (BABY, TSX-V) has added 14 cents to $2.28 after announcing the U.S. launch of trial-sized pouches of Else Plant-based Nutrition for Toddlers…following successful production, trial samples will be widely available for order via the Else Nutrition e-store…“We are thrilled to hit this key milestone and to be be sharing our product with the world,” stated Hammutal Yitzhak, CEO and Co-founder…“We are excited to get the samples in the hands of eager parents looking for clean label, plant-based nutrition alternatives for their children”…the sampling campaign will be promoted via Else social media channels and will precede the launch of the full-size version of the proprietary product, which will be available for pre-orders on the Else e-store next month…

4. In the Eskay Camp, Tudor Gold (TUD, TSX-V) has announced this morning that it has added a 3rd diamond drill rig to its 2020 program as the company intensifies its exploration efforts at Treaty Creek…diamond drilling started on the Goldstorm Zone with 2 drill rigs last month…Ken Konkin, Tudor’s VP/Project Development, stated: “Both drill rigs are working extremely well as we outline the peripheral edges of the Goldstorm mineralization. We recognize that in order to achieve the goals of having our preliminary drill measured and drill indicated resource estimate completed for year-end, we need to accelerate our drilling production. The Goldstorm system is proving to be very large, as we have currently delineated 850 m along the northeastern axis and 600 m along the southeastern axis and just over 1080 m at its deepest point. Depending on the depths and widths of mineralization encountered, we may require more than 3 drills to complete this task. Furthermore, we will be drill testing the Perfect Structural Storm (PS2), a new geophysical and geological target located mid-way between our Goldstorm system and Seabridge’s Iron Cap deposit. The first holes at PS2 will be located within a cluster of surface samples that have returned anomalous Gold values”…the 2020 budget allows for 22,500 m of drilling on the Goldstorm Zone…the Gold-Copper-Silver mineralization remains open to the northeast and to the southeast, as well as to depth…TUD is steady at $1.55 in early trading…

5. A surge in coronavirus cases in the U.S. and Brazil, and further outbreaks in Germany – where the reproduction rate of the disease has risen substantially – are concerning global health experts, but financial markets don’t seem too worried…the largest single-day increase in global Wuhan COVID-19 cases was recorded yesterday, according to the World Health Organization (WHO), after more than 183,000 cases were reported worldwide…Brazil, with nearly 55,000 new infections, saw the largest number of cases reported, followed by the U.S., with more than 36,000 new cases reported yesterday…India, meanwhile, saw more than 15,000 new infections, the WHO said…the jump in the number of cases could be due, in part, to increased and more widespread testing, and also anomalies in data collection…nonetheless, the surge in cases does not appear to be a one-off…equity markets, aided by central banks and government stimulus measures, have learned to live with the virus…populations across the globe will have to do the same…

6. TraceSafe (TSF, CSE, formerly Blockchain Holdings) announced this morning that Boustead Projects, one of the largest construction firms in Singapore, has entered into an arrangement with a local TraceSafe nominee to provide contact tracing solutions to help meet the COVID-Safe Restart Criteria published by the Singapore Building and Construction Authority…this represents the first Enterprise Contact Tracing deployment of the product suite called “AllSafe”…TraceSafe’s wearable devices and cloud management software will be deployed at a Boustead construction site to facilitate contact-tracing in the event of positive confirmed cases of COVID-19…workers who may be exposed can be readily identified by contact tracing records based on proximity of the devices worn by all workers…physical distancing encroachments are detected and recorded, as well as alarm warnings generated in real-time for site supervisors to take immediate action…worker assignments and team separations are also facilitated…the first deployment is expected at a select project site, and once the relevant government authority approvals and support are obtained, both parties will work toward expanding the deployment across all project sites…the arrangement is an example of major enterprise employing TraceSafe contact tracing solutions to help reopen safely using technology to provide a safer work environment…TraceSafe continues to work to win the trust of large, respected companies and governments as part of a broader, long term safety initiative – a physical distancing solution for a post-COVID reopening world…TSF, in the midst of raising $10 million, has jumped 35 cents to $1.50 as of 7:00 am Pacific…

 7. The many emergency laws and regulations introduced to target the COVID-19 pandemic have amounted to the “death of civil liberties by a thousand cuts,” a new report says…The non-profit Canadian Civil Liberties Association (CCLA) on Friday released a lengthy document that reviews emergency measures introduced by federal, provincial and municipal levels of government in recent months, which authorized everything from unlimited spending powers to hefty fines for people who fail to practise social distancing…the organization asserts that those measures amount to a broad overreach of government powers that, left unchecked, threatens to become permanent…“The pandemic has led to a thousand impositions on civil liberties that might feel minor alone, but which taken together represent an extraordinary change to civil liberties in Canada,” the report said…limits to civil liberties include government-led initiatives to curb so-called “misinformation”, mandatory masks or temperature checks in private settings, restricted access to public settings, or even attempts to hinder “drive-in religious services”, the report said…“Each of these constrain freedoms in what some might consider small ways. But taken together, they indicate a major shift in Canada towards a more designated, circumscribed, and government-ordered way of doing things”…the study underscores the deep divisions that have surfaced in recent months as the public grapples with the extent to which government should control public life in the name of safety…

Rapid Response!

How This Pandemic Will Ultimately Help Copper

Wuhan COVID-19 Virus Update

The Cost Of Doing Business With China (The CCP)

“Silver Lining”: Innovative Vancouver Company Provides Help During Crisis

COVID-19 Update

Smithers Shakes Off Turmoil For A Major 3-Day Event Connecting Hockey And The Resource Sector

Turbocharged Nickel

Commodity Check!

The Nickel Mountain Magma Highway

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

This current Venture uptrend will challenge previous powerful runs in 2010 and 2016…

Learn more in today’s Week In Review And A Look Ahead!