BullMarketRun.com

Check back later today for a possible additional post and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,283 and $1,293 so far today, pressured by an advancing U.S. dollar…as of 7:00 am Pacific, bullion is off $11 an ounce at $1,283…to gain momentum above $1,300 an ounce, Gold probably needs softer U.S. economic data and signs that the Federal Reserve is becoming more dovish, according to TD Securities…Silver has slipped 18 cents to $17.02…Copper and Nickel are off slightly after big moves in recent sessions…Copper is at $3.18 while Nickel is at $5.29…Crude Oil continues to be firmly bid on increased tensions in the Middle East…WTIC is up 5 cents at $52.06…the U.S. Dollar Index has added one-third of a point to 93.65…

2. Reports that President Trump is favoring policy hawk John Taylor as the next head of the Fed is pushing the dollar higher and lifting U.S. Treasury yields…Taylor, a Stanford economist, is seen as more likely to raise rates than Janet Yellen…Trump is scheduled to meet with Yellen on Thursday…it’s possible the President could grant her a new term but it seems likely the “change maker” will opt for change…

3. As Gold once again fell below the key psychological level of $1,300, one respected precious metals expert remains optimistic, saying the metal could hit new all-time highs by 2020.  “By 2020–2022 we would see record high Gold prices in terms of nominal annual average prices,” stated Jeff Christian, the managing director of CPM Group, in an interview with Macro Voices. “For the annual average price to be $1,650 or $1,700, that means that you’re going to have Gold prices knocking on the door of $2,000.  Over the next few months the price is probably going to move back up toward $1,340 to $1,360 – into late November and December,” Christian said. “Then getting into 2018, depending on what happens in the global financial markets, we think that the Gold price will probably continue to rise at perhaps a slightly faster rate than it has risen in the last couple of years.”

4. The Dow came within less than 1 point of 23,000 in early trading, buoyed by strong quarterly results from Goldman Sachs and UnitedHeath Group…as of 7:00 am Pacific, the 30-stock index is up 15 points…in Toronto, the TSX has added 36 points while the Venture is off 2 points at 790…strategic investors are putting $10 million into Garibaldi Resources (GGI, TSX-V) as drilling continues at GGI’s Nickel Mountain discovery 11 miles from Eskay Creek…the fully-subscribed private placement at $3.15 per unit (all hard dollars) is expected to close shortly…HIVE Blockchain Technologies (HIVE, TSX-V) is trading at new highs, up 20 cents at $3.18 as of 7:00 am Pacific, while Calyx Bio-Venture (CYX, TSX-V) – yesterday’s Venture volume leader and another blockchain play with a bullish chart – is off a penny at 11 cents…Aphria (APH, TSX), continuing to expand its geographic footprint in Canada, has arranged an $80 million bought deal financing (11 million shares at a price of $7.25 per share)…

5. First Cobalt (FCC, TSX-V) is pushing higher in early trading after announcing that it has expanded its drill program in the northern Ontario Cobalt Camp by 2,000 m to follow up on high-grade Cobalt assays from a sampling program at the former Bellellen mine…the 2017 program is now expected to continue into December…disseminated and fracture-controlled mineralization styles containing Cobalt suggest a broad hydrothermal system occurs at Bellellen, requiring further study…20 drill holes will range from 50 m to 150 m in length to target near-surface areas around known veins to test if disseminated Cobalt mineralization occurs as a halo…Trent Mell, President & CEO, commented: “Bellellen has quickly emerged as a priority target for First Cobalt. These additional meters are intended to advance our understanding of the controlling structures in this area, which differ from what we have seen at Keeley-Frontier. As it is still early in our understanding of the Camp, we are looking forward to the results of this focused program.”

6. Eastmain Resources (ER, TSX) and Azimut Exploration (AZM, TSX-V) have discovered a high-grade Gold-bearing vein system on the Eleonore South JV Property in the James Bay region of Quebec…the surface discovery is the result of a continued focus within the property’s prospective exploration corridor since mid-2016 and is situated 15 km SE of Goldcorp’s (G, TSX) Eleonore Gold mine…the discovery was confirmed at surface by extensive mapping and channel sampling at the Moni prospect after overburden stripping, and at depth by drill hole ES16–48 (8.9 g/t Au over 2.5 m as reported in late November 2016)…a 6 m wide vein system was exposed along a 36 m NE-SW strike length with channel sampling returning consistent high-grade results including 79.5 g/t Au over 5.9 m…another vein, located about 15 m SE, returned 47.1 g/t Au over 7.7 m and 35.6 g/t Au over 1.35 m…the channel sampling is part of the $3.9 million 2017–2018 exploration program which includes 8,000 m of diamond drilling, geochemical and geophysical exploration and prospecting…Phase 1 drilling is complete with assays pending on 18 holes…Phase 2 is planned for January to March 2018, and will be informed by drill results from Phase 1 drilling as well as the new discovery at the Moni prospect…

7. Osisko Gold Royalties (OR, TSX) is thinking big – the company has entered into a $260 million bought deal (convertible unsecured debentures) with a syndicate of underwriters co-led by National Bank Financial, BMO Capital Markets and Desjardins Capital Markets…the net proceeds from the offering will be used to finance the acquisition of more precious metal royalties and streams…Osisko Gold Royalties is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014…it holds a North American-focused portfolio of over 130 royalties, streams and precious metal off-takes anchored by several cornerstone assets including a 5% NSR on the Canadian Malartic mine…

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