BullMarketRun.com

1. Gold has traded between $1,264 and $1,271 so far today…as of 7:00 am Pacific, bullion is off $1 an ounce at $1,268…speculators trimmed their net long position, or bets on higher prices, in COMEX Gold to the weakest in 2-and-a-half years in the week to June 19, according to data released Friday by the U.S. Commodity Futures Trading Commission…Silver has slipped 13 cents to $16.29…Copper is off a penny at $3.07…Nickel has retreated 5 cents to $6.83, Zinc is down 2 pennies at $1.32, while Cobalt begins the week at $36.08…Crude Oil is off its highs of the morning, up just 9 cents at $68.67 after surging Friday in the wake of the OPEC meeting in Vienna…the U.S. Dollar Index, meanwhile, has slipped one-tenth of a point to 94.42 as the 95 area continues to provide stiff resistance as expected…for the first time since President Trump took office, the CNBC All America Economic Survey shows more than half of the American public approving of his handling of the economy…the President’s economic approval rating surged 6 points to 51% with just 36% of the public disapproving, a 6-point drop from the March Survey…

2. Goldman Sachs is warning that an outage at Syncrude Canada’s Oil sands facility could leave North America short of 360,000 bdp of supply for all of July…the bank added that this “will exacerbate the current global deficit, making the increase in OPEC production all the more required”…after its official meeting on Friday, OPEC gave a press conference on Saturday that provided more clarity on its decision to increase production, with guidance for a full 1 million bpd ramp-up in the 2nd half of the year…that’s a larger increase than presented Friday, though the goal remains to stabilize inventories, not generate a surplus…largely because of unplanned disruptions in places like Venezuela and Angola, the group’s output has been below the targeted cuts, which it now says will be reversed by supply increases, especially from OPEC leader Saudi Arabia…analysts warn, however, that there is little spare capacity for large-scale output increases…

3. The Wall Street Journal reported this morning that President Trump, already embroiled in a trade battle with China, plans to ratchet commercial tensions higher by barring many Chinese companies from investing in U.S. technology firms, and by blocking additional technology exports to Beijing…the twin initiatives, set to be announced by the end of the week, are designed to prevent Beijing from moving ahead with plans outlined in its “Made in China 2025” report to become a global leader in 10 broad areas of technology, including information technology, aerospace, electric vehicles and biotechnology…

4. Spooked by fresh trade concerns, investors have knocked 281 points off the Dow through the first 30 minutes of action this morning…this is the 9th negative day for the Dow out of the last 10…in Toronto, the TSX has shed 135 points while the Venture is bucking the trend, up 1 point at 757…National Access Cannabis (META, TSX-V) has jumped another 9 cents to 97 cents after a positive recommendation from an analyst as reported by the Financial Post…Cannabix Technologies (BLO, CSE), a leader in the development of a marijuana breathalyzer, climbed as high as $2.73 in early trading, an 81% gain from last week’s $1.51 low…

5. Marathon Gold (MOZ, TSX) has reported thick intersections of en-echelon stacked QTP (quartz-tourmaline-pyrite) veining in new step-out drilling at the Sprite zone bog area at its Valentine Gold Camp…drill hole VL-18–676 cut 6.2 g/t Au over 49 m including 22.4 g/t Au over 10 m, the best result to date at the Sprite zone…additional stacked QTP veining with good Gold values was also intersected in widely-spaced step-out drill holes covering a 1.5 km strike length of the Sprite zone bog area…the Gold in these new drill holes, combined with previously released drill holes VL-18–657 to 667, supports the Sprite zone as a significant target for additional exploration and Gold resource development…after the release of a positive PEA last month, Marathon is now focussed on discovering new Gold deposits and increase the Measured and Indicated resources in advance of a Pre-Feasibility study…

6. Tidal Royalty Corp. (RLTY, CSE) began trading on the CSE this morning as the latest marijuana listing…the company provides expansion financing to licensed U.S. operators across multiple verticals, including cultivation, processing and manufacturing, dispensing, and ancillary services…Tidal Royalty was founded in August 2017 by experienced cannabis industry executives, including CEO and Chairman Paul Rosen who’s the co-founder and former CEO of PharmaCan Capital, now operating as Cronos Group (CRON, TSX, NASDAQ)…“The market opportunity in U.S. regulated cannabis is significant and, in many respects, is reminiscent of the early-stage investment opportunities in Canada in 2012 that we were able to capitalize upon,” stated Rosen…“The Tidal Royalty team has spent the last 11 months travelling across the U.S., meeting with licensed operators in virtually every state that has a regulated cannabis industry.  We have had discussions with over 100 prospect companies, and we have entered into 3 separate Letters of Intent to date.  Our pipeline of opportunities to fund high-caliber operators across nearly a dozen key U.S. states continues to grow and we anticipate that our current efforts will lead to multiple additional agreements as discussions progress”…RLTY has raised approximately $40 million to date through private placements, which it intends to use primarily for royalty financings…RLTY opened at 62 cents and is trading at 75 cents as of 7:00 am Pacific…

7. Another major beer maker is looking at ways to enter the marijuana business…Denver-based Molson Coors Brewing Co. is weighing whether to expand into the sector with Canada poised to legalize the drug for recreational use this October…the brewer is said to have held talks with several Canadian-based marijuana companies to invest and collaborate in cannabis-infused beverages in an attempt to halt declining beer sales, according to a Friday report from BNN Bloomberg…the company has spent the past 6 months engaged with as many as 4 cannabis companies, including Aphria (APH, TSX) and Aurora Cannabis (ACB, TSX), discussing its plans to enter the space, according to the report…last year, Corona beer seller Constellation Brands bought a minority stake in Canopy Growth (WEED, TSX), the nation’s largest marijuana producer…rivals such as The Green Organic Dutchman Holdings Ltd. plans to develop a product-testing and manufacturing center to explore using cannabis in everything from iced teas, juices and sports drinks…

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