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Check back later this morning for today’s BMR Morning Market Musings.

1. Gold has traded between $1,280 and $1,288 so far today…as of 7:00 am Pacific, bullion is down $5 an ounce at $1,284 while Silver is off 4 pennies at $18.21…geopolitical rhetoric has quieted down, at least temporarily, and some other catalysts may have to come into play for bullion to push through strong resistance around $1,300…base metal prices have rebounded modestly after some weakness yesterday while Crude Oil has added 12 cents to $52.53 ahead of fresh inventory data from the EIA…the U.S. Dollar Index, which took a beating yesterday, has bounced back one-quarter of a point to 99.78…

2. PyroGenesis (PYR, TSX-V) continues to be at the forefront of cutting edge research and the design, development, manufacture and commercialization of advanced plasma processes…this morning the company reported that it has successfully destroyed simulated chemical warfare agents for the U.S. military, exceeding 99.9999% efficiency. “A successfully developed system would safely destroy chemical warfare agent stockpiles onsite without having to transport these highly toxic chemicals to a remote location for processing,” said Peter Pascali, President and CEO of PyroGenesis. “Successfully completing this contract reflects the significant advances that we, at PyroGenesis, have achieved, and which we expect to continue to achieve in the area of defense and chemical warfare agent destruction. This, coupled with the fact that our plasma based waste destruction system is specified in the design of the new generation U.S. aircraft carrier, with two systems already having been delivered, further solidifies our position within the U.S. military as being the ‘go-to’ supplier of plasma-based solutions.” PYR is up 4 cents at 47.5 cents as of 7:00 am Pacific, just slightly below its March 30th multi-year high of 49.5 cents…

3. Camino Minerals (COR, TSX-V) has pulled back in early trading after soaring 259% yesterday (closed at $1.24 vs. 34.5 cents Monday) when it reported an impressive high-grade drill intercept (106 m grading 1.30% Copper) from its Los Chapitos Project in Peru…the first 2 RC holes confirmed the down dip extension of the Adriana zone surface oxide mineralization but the 2nd hole also hit high-grade sulphide mineralization at depth between 188 m and 294 m, with the hole ending in mineralization…Adriana is one of 5 known zones located along the northeastern trend of Chapitos…results are pending for 3 more RC holes while the balance of the Phase 1 program will be completed by diamond drilling beginning early next month…COR is off 20 cents at $1.00 as of 7:00 am Pacific…

4. The Venture is up 1 point at 826 after testing new support yesterday at 824…Spearmint Resources (SRJ, TSX-V), yesterday’s volume leader when it played the “closeology” game with Barkerville Gold Mines (BGM, TSX-V), is quieter and unchanged at 3 cents…another sudden jump in volume since yesterday in Austin Resources (AUT, TSX-V) on no news, a trend that began around the middle of last year…in Toronto, the TSX is 46 points higher while the Dow has added 8 points…a rare earnings miss from Goldman Sachs accounted for 73 of the Dow’s 110 points to the downside yesterday…on the data front, the Federal Reserve will issue the Beige Book of economic conditions at around 11:00 am Pacific…

5. Klondex Mines (KDX, TSX), which has tumbled about 40% in less than 2 months, reported this morning that it mined a total 57,633 Gold equivalent ounces for the 1st quarter of 2017, in line with company expectations, and remains on track to meet its annual guidance of 210,000 to 225,000 Gold equivalent ounces this year…that would be a 36% increase from 2016…financial results for Q1 will be reported May 4…the stock is off 7 cents at $4.77 in early trading and has landed in a strong area of technical support at its rising 500-day moving average (SMA)…

6. Bizarre…if you’re a shareholder of Evrim Resources (EVM, TSX-V), and you’re eagerly anticipating additional drill results following up on a high-grade near-surface discovery reported in mid-January, you may have to wait a while…Evrim reported this morning that First Magestic (AG, NYSE), which has an option to earn 100% of Ermitano adjacent to its operating Santa Elena mine, has completed 6 additional drill holes after discovery hole EW16–04 intersected 11.4 g/t Au over 18 m…during a site visit, Evrim geologists reviewed holes EW16–05 to EW16–07 and confirmed intersections of wide veins with near identical vein mineralogy and textures to those reported in hole EW16–04…First Majestic is in receipt of the assay results but says it won’t make them available to Evrim until after completion of its “community engagement process” at Ermitano…who knows how long that could take…under the terms of the agreement, First Majestic has to deliver a production notice supported by the required permits and a detailed mining and construction schedule by January 10, 2019, to earn 100% of Ermitano, at which time Evrim will retain a 2% NSR…EVM shareholders are remaining patient with the stock up 4 pennies at 32.5 cents on light volume in early trading…

7. Nighthawk Gold (NHK, TSX-V) released encouraging preliminary results this morning from its continuing metallurgical testwork on the promising Colomac Gold project…3 drill core bulk samples from various portions of the Colomac deposit were assayed and tested for grindability using the SAGDesign methodology…a master composite was then amalgamated from the bulk samples and used for additional metallurgical testing…initial results indicate that Gold recoveries of up to 96.5% may be achieved and the rock is amenable to all standard Gold recovery technologies…this represents a significant increase in recovery over the historic production results of 88.1% (1994 to 1997)…additional testwork is expected to yield further optimization and confirmation of these results…

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