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 $1,270 and $1,277 so far today…as of 7:00 am Pacific, bullion is down $5 an ounce at $1,274…Silver is flat at $16.64…on the base metal front, Copper and Nickel are steady at $2.93 and $4.74, respectively, while Zinc has hit new highs, currently trading at $1.48…both Zinc and Lead spreads are now in backwardation on tight supplies…Crude Oil has retreated $1.36 a barrel to $50.31 while the Dollar Index has gained more than two-thirds of a point to 93.54…the China Gold Association has reported that in the first half of 2017, China produced 207 tonnes of Gold, a drop of 9.8% from a year ago, although Gold consumption rose nearly 10% to 545 tonnes, with consumption of Gold bars up more than 50%…keep in mind that all Chinese markets are closed this week for the country’s National Day Golden Week holiday…

2. Expectations that the Federal Reserve will push ahead with a third U.S. interest rate hike this year, generally upbeat U.S. economic data and talk of a possibly more hawkish successor to Fed Chair Janet Yellen all lifted the greenback and Treasury yields to begin Q4 this morning…the dollar has jumped to 6-week highs, Treasury yields have surged to 3-month highs, and U.S. equities continue their record run…this has put some additional pressure on Gold after the yellow metal posted its biggest monthly fall so far this year in September…for the full quarter, though, bullion added nearly 3%…nearest strong support is $1,260…

3. Good news for metals – China’s manufacturing activity grew at the fastest pace since 2012 in September, exceeding expectations, as factories cranked up output to take advantage of strong demand and high prices, easing worries of a slowdown before a key political meeting next month…production, total new orders and output prices all improved to the highest level in at least a year, while a pick-up in a reading for the construction sector indicated a building boom is undiminished…the official Purchasing Managers’ Index (PMI) released over the weekend rose to 52.4 in September, from 51.7 in August…it marked the 14th straight month of expansion for China’s massive manufacturing industry and the highest reading since April 2012…the data comes ahead of the Communist Party Congress in mid-October, a once-every-5-years meeting where new leaders are appointed and the government’s key political and economic initiatives are laid out, though details are usually not announced until much later…

4. An increase in U.S. drilling and higher OPEC output in September have contributed to profit taking in Crude Oil today after the market scored its biggest 3rd quarter gain in 13 years…U.S. energy companies added Oil rigs for the first week in 7 while Iraq announced that its exports increased slightly in September…however, there is no denying that supply cuts are finally having some effect and the Oil market has the highest level of optimism in 3 years…U.S. Crude prices rose 9.4% in September, the best month for WTI since April 2016, supported by renewed faith in OPEC countries and other producers to alleviate a global supply glut…the recent Kurdish referendum has had a bullish impact on Crude as well…meanwhile, U.S. demand has been strong with refineries ramping up operations following Hurricane Harvey…

5. All 3 major U.S. stock indexes hit all-time highs at the open, building on gains set in the previous quarter…American markets wrapped up Q3 Friday with the Dow posting its first 8-quarter winning streak in 20 years…as of 7:00 am Pacific, the Dow is 68 points higher while the TSX has added 19 points…the Venture is off 1 point at 780 through the first 30 minutes of trading…Blue Moon Zinc (MOON, TSX-V) is once again one of the most active stocks, unchanged at 10 cents as of 7:00 am Pacific…the company is expected to soon provide an update to its NI-43–101 resource estimate for its southwestern U.S. Zinc project to capture current metal pricing as the last NI-43–101 released by the company in 2008 used 75 cents per pound Zinc, $2 per pound Copper, $600 per ounce of Gold and $8.50 per ounce Silver…the company also expects to release a PEA in the 1st quarter of 2018 to demonstrate the potential economic viability of the Blue Moon resources…Fresh assay results, including 20.9 m @ 8.4% Zn and 40 g/t Ag, and 14.5 m @ 7.5 Zn, 1.9% Cu and 66 g/t AG, have added tonnage to the South Wall zone at Constantine Metals‘ (CEM, TSX-V) Palmer Project in Alaska…a total of 10,718 meters were drilled as part of the recently completed dual focus resource expansion and regional exploration drill program…approximately half of this drilling was directed at the new AG Zone discovery located 3 km from the South Wall resource…importantly, CEM states that drilling at the AG zone has continued to successfully define the discovery with step-outs along strike and to depth from the initial holes…more assay results are pending…Garibaldi Resources (GGI, TSX-V) and neighbor Metallis Resources (MTS, TSX-V), which is also drilling, have both hit new highs this morning as an update from GGI on the E&L Nickel Mountain discovery in the Eskay Camp draws near…

6. Tinka Resources (TK, TSX-V) is quiet in early trading but the company has delivered one of its best drill holes of the year at its South Ayawilca Zinc Project in central Peru…hole A17–096 has produced 2 high-grade intercepts of over 40 m each (45.5 m @ 7.8% Zn from 241.5 m depth, and 40.8 m at 9.4 % Zn and 15 g/t Ag from 315.2 m depth)…these intercepts indicate continuity of the two high-grade Zinc zones intersected in previously released stellar hole A17–056 (63.9 m grading 5.6% Zn from 126 m depth & 51.9 m grading 10.1 % Zinc from 242 m depth) separated by 50 to 100 m…also at South Ayawilca, hole A17–093 intersected Zinc-Lead-Silver mineralization in an infill hole between 2 holes separated by 250 m and connects South Ayawilca with the Central Ayawilca resource zone…2 drill rigs continue to turn at South Ayawilca…drill data for a Zinc resource update is being finalized, with the new resource expected by early November…drilling is planned to continue until December, testing new targets and continuing with step out holes at South Ayawilca…TK is unchanged at 55 cents as of 7:00 am Pacific, just slightly above its still-rising 200-day SMA…

7. Seven days of hearings begin today to review a motion at the Federal Court of Appeal, a motion that seeks to quash 2016 federal approval of the $7.4 billion Kinder Morgan Trans Mountain pipeline…the court will review legal challenges from multiple parties including 10 First Nations, the municipalities of Vancouver and Burnaby, and environmental groups who are opposed to the project…in reality, these radical Oil-haters would be opposed to ANY project that involves the shipment of Crude…the B.C. and Alberta governments both have status as interveners in the case…Alberta NDP Premier Rachel Notley has dismissed British Columbia’s chances of overturning the pipeline permit…no province can “hold hostage” another’s economy, she said in May, when it was apparent the NDP and Greens would join together to topple the pro-pipeline Liberal government.  “It is our view that there are no tools available for a province to or otherwise block a federal government decision to approve a project that is in the larger national interest,” Notley said.  “If there were such tools, Canada would be less a country and more a combination of individual fiefdoms fighting with other for advantage.” 

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

Thunder In The Corridor!

Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began