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1. Gold has traded between $1,208 and $1,215 so far today…as of 7:00 am Pacific, bullion is up $1 an ounce at $1,212…“Bullion will need to break through the $1,215 to $1,220 resistance level to test the recent build-up in short positioning, with a squeeze likely to target resistance around $1,240,” MKS (Switzerland) said this morning…Silver is 2 cents higher at $14.88…Copper prices have climbed to a 2-week high with the metal adding 4 cents to $2.77…Nickel has pushed up 8 cents to $6.11 while Zinc has added 1 cent to $1.15…Cobalt remains steady at $29.26…Crude Oil is unchanged at $68.87 while the U.S. Dollar Index has slipped one-quarter of a point to 94.52…U.S. consumer confidence rose sharply in August despite many analysts’ expectations that it would slip…the numbers, released just moments ago, build on July’s solid result as Americans grow increasingly optimistic regarding the economy entering November’s mid-terms (bad news for Democrats)…the Confidence Board’s index rose to 133.4 in August, well ahead of expectations from a survey of Reuters‘ economists that it would fall to 126.7…
2. Oil prices are now at their highest since early July, thanks to evidence of still-modest increases in output from OPEC and improving Chinese refining demand…OPEC’s monitoring committee has found that Oil producers participating in a supply-reduction agreement, which includes non-OPEC member Russia, cut output in July by 9% more than called for…investors are now more confident that supply is likely to fall short of demand in the coming months, as reflected by a narrowing in the discount, or spread, between the October and November Brent futures contracts to around 26 cents a barrel, half of what it was a month ago…Oil market participants are looking ahead to weekly U.S. Oil inventory data from industry group American Petroleum Institute, due later today…
3. The “Art of the Deal”…a high school drama teacher is up against a street-smart billionaire businessman, so who’s likely to win?…President Trump moved closer to revising the North American Free Trade Agreement by striking a deal with Mexico yesterday, but cast new doubts over the quarter-century-old pact by threatening to leave out Canada…while the deal was created to foster harmonized rules across the continent, Trump said yesterday he would sever Washington’s northern neighbor from that bloc if necessary…he proposed to rename the pact “The United States-Mexico Trade Agreement,” while setting terms that will hinder Ottawa’s efforts to join it…the Trump administration said it would give Canada until Friday to iron out crucial differences, including a revision that makes it harder for NAFTA members to challenge U.S. trade penalties..while Mexico accepted that change, Canadian officials have said for months that would be unacceptable…the bottom line is that Trump is controlling these negotiations, setting both the pace and the terms…“It’ll either be a tariff on cars or a negotiated deal (with Canada),” the President said during his announcement yesterday in the Oval Office…Canada has been shamefully outmaneuvered…
4. The Trudeau Liberals approved the German-based Drager Drug Test 5000 yesterday, the first saliva screening equipment to be used by law enforcement to test for THC – the main psychoactive agent in cannabis…as Acumen Law Corporation lawyer Kyla Lee explained yesterday, the device won’t work in cold Canadian temperatures (below 4 C) and results won’t even stand up in court. “It only deals with detecting the presence of drugs in a person’s body,” Lee explained. “It doesn’t indicate whether or not a person is impaired, so it will give the officers grounds to arrest someone and consider investigating but it’s just another step in what the officers will be doing. It’s not going to be proof in court”…in a news release, the feds said the equipment will now be made available to police forces across the country, and it will be up to police to decide what testing equipment they want to use…the Liberals have pledged $161 million in funding for police training and drug-testing equipment over the next 5 years, as well as a public awareness campaign about the perils of driving while high…meanwhile, Cannabix Technolopgies (BLO, CSE), the global leader in the development of a truly effective marijuana breathalyzer, reported further progress yesterday with its innovative FAIMS based instrument for accurate detection of THC (and very recent use thereof)…BLO is off 20 cents at $1.71 in early trading, but investors have no reason to fear the “Drager”…
5. The NASDAQ vaulted above 8000 for the first time yesterday, underscoring the dominant role megacap technology shares have played in propelling the U.S. stock market past its global peers this year…it took the index just short of 8 months to climb a thousand points after crossing 7000 in January, a pace unmatched since around the height of the dot-com era when the NASDAQ jumped from 4000 to 5000 in just 49 trading days…before yesterday, the last time the NASDAQ had crossed 2 thousand-point milestones in a single year was 1999, when a fervor for tech stocks sent a score of dot-com ventures surging higher before a precipitous crash…
6. The Dow is up 56 points through the first 30 minutes of trading while the S&P 500 has jumped above the 2,900 level for the first time this morning…in Toronto, the TSX is off 21 points…the Venture is benefiting from renewed interest in marijuana plays as well as some very positive developments on the resource front as a potential major new uptrend takes shape…the Venture is off 3 points at 714 as of 7:00 am Pacific…a key resistance band extends from 710 to 720 while strong new support exists at 696…Gold Standard Ventures (GSV, TSX) has arranged a non-brokered private placement of up to 5.1 million common shares at a price of $2.05 per share for gross proceeds of up to $10.5 million…Goldcorp (G, TSX) has confirmed that it will acquire 2.9 million shares in the PP and will own approximately 35.3 million shares of Gold Standard, representing 13.6% of the company’s issued and outstanding shares on a non-diluted basis, following closing of the financing…meanwhile, OceanaGold (OGC, TSX) has confirmed it will acquire 975,609 shares in the PP and will own approximately 40.5 million shares Gold Standard (approximately 15.6%)…some bullish talk from Cartier Resources (ECR, TSX) which says it’s launching an expanded and potentially “game-changer” Phase II drill program on its Chimo mine, 45 km east of Val d’Or…Cartier President and CEO Philippe Cloutier says the company’s Phase II drill program, which began a week ago, has been expanded by an additional 40 holes totalling 13,000 m, to a total of 105 drill holes for a total of 45,000…results from Phase I drilling has led to a Phase II program focussed on mineralization that Cloutier believes is “the tipping point for the Chimo mine project”, as stated in a news release this morning…Marathon Gold (MOZ, TSX) has discovered multiple stacked, en-echelon QTP-Au (quartz-tourmaline-pyrite-Gold) veining in newly exposed trench outcrop along a 1,500-m strike length to the southwest of its Victory deposit…ML Gold (MLG, TSX-V) has intersected over 400 m of Copper mineralization in drill hole #10 at its Stars Project – unfortunately the grade of 0.26% CuEq won’t excite investors…
7. Drill permits for Gowganda West: iMetal Resources (IMR, TSX-V) has just announced that it’s moving ahead with the next stage of exploration at its 105 sq. km Gowganda West Project, a 20-minute drive from Canada Cobalt’s (CCW, TSX-V) Castle mine, after receipt of multi-year drill permits from the Ontario Ministry of Mines and Development…iMetal can also now carry out planned mechanized stripping, trenching and ground-based geophysics over high-grade Gold showing areas that continue intermittently for at least 2.4 km along an apparent structural corridor…chip sampling has returned Gold values as high as nearly 2 ounces per tonne in Zone 3A…Johan Gradin, IMR President and CEO, stated, “The extent of high-grade Gold and Copper surface showings on a property with no previous systematic exploration, and contiguous to a significant Gold deposit, has our team believing it can turn Gowganda West into an exciting new discovery story”…IMR has mobilized crews to the property, led by Exploration Manager Tom O’Connor, to prepare for potential drilling as early as next month as initial drill targets could be finalized with about 2 weeks of ground work based on observations from a recent BMR site visit…access to high priority target areas over the summer has been vastly improved by a logging company working in the area…they have built a solid gravel road straight from Highway 560 from Gowganda into the first targets at Zones 3A and 3B…
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Excellent 7 @ 7 BMR! The thing to remember is in point #3 “high school drama teacher”. That is how stupid Canadians are! They elected this clown to represent Canada on the world stage in all aspects including trade negotiations. If I were Mr. Trump, I would take it a step further and say “If Canadians re-elected Stephen Harper as Prime Minister in the last election, they wouldn’t be in the mess they are now in.” That says it all! Why would Canadians elect a man who lead the country through one of the most difficult economic times in the last century? Why would Canadians elect a TRULY “Professional Politician”? Why would Canadians elect a man who has a Masters Degree in Economics? Why I say? The answer is because Canadians are all about “drama”. They can’t get enough of it… Mr. Trudeau is giving Canadians all the “drama” they can handle.
Comment by Raffi14 — August 28, 2018 @ 8:48 am
Raffi14, I certainly miss Stephen Harper but in this situation I don’t think it would make any difference. I don’t think Trudeau is leading the trade negotiations. Trump will bully whoever is in there, he would probably say the same things about Stephen Harper. Not that I blame Trump for trying to get the best deal for his country, that’s his job. However Trump insulting Trudeau is not going to improve chances for any sort of deal.
Comment by Danny — August 28, 2018 @ 2:32 pm
Hey Raffi, in case you did not notice Canada is not that little girl or boy getting beat on, I can tell you teachers know how to take on bullies, and the whole world is watching this. This is interesting “drama”, and that is all it is. Alot, of people did not like Harper, that is why he was not re-elected, or his party. I think your comment about this guy being a “clown” is uncalled for. Believe it or not, I like what he(the “clown”) is doing, and I am not alone. Most of my family lives in the USA, and they are on my side, and they just love our PM. Same with your comment about Canadians being “stupid”. I think you should apologize! Alot, of Canadian voted for this guy. And BMR, this “drama” is teacher, is smarter than alot of people out there. Remember, you Americans elected an “Actor”. For _uck sakes! I am sorry, I had to say something!
Comment by randd51 — August 28, 2018 @ 2:49 pm
randd51, I just assumed Raffi14 was Canadian because it would be extremely rude for someone from another country to come here and call Canadians stupid. It would certainly warranty an apology.
Comment by Danny — August 28, 2018 @ 3:24 pm
Thank you Jon for stating what needs to be
stated about our present Pm.I for one believe with all my heart that the election coming up will define our country as never before if this present government is elected.Imho they would go after and change the Tfsa rules by capping the amount,or taxing after a certain amount.I hope even liberals will recognize the benefit of a unfettered Tfsa. David
Comment by David — August 28, 2018 @ 4:21 pm
Would anyone be able to comment as to whether clm and/or ccw will reach $1 by end of Sept this year? Which of the two would you invest in at this time? Thank you.
Comment by Sooch — August 28, 2018 @ 4:34 pm
http://www.maximebernier.com/issues/ Maxime Bernier makes his case for free trade. Actual free trade.
Comment by DINGO — August 28, 2018 @ 4:45 pm
I would go with CCW. Seems far more sure that they have the goods.
Comment by Tad — August 28, 2018 @ 7:36 pm
Hi Raffi14,
It’s just us Canadians turn to be stupid.
You Americans voted Barack Obama in as President.
Twice.
Subscriber John
Comment by John — August 28, 2018 @ 8:55 pm
Let’s stick to rocks.
Comment by David — August 28, 2018 @ 9:09 pm
Sooch: If I had to pick one, I would go with CCW but it’s good to be in both.
Comment by adrobyshev — August 28, 2018 @ 9:14 pm
Can I suggest we keep politics out of these forums? Its beginning to interfere with the market information being presented and starts turning one poster against the other here. Canadians and Americans should and can get on well together. Lets pool together and share what we know about stocks, as that’s what we are here for. cheers
Comment by broen — August 28, 2018 @ 9:56 pm
Thank you gentlemen for the opinions on clm and ccw.
Comment by Sooch — August 29, 2018 @ 1:29 am
Great news from MOON this morning – drilling begins…
BLUE MOON TARGETS NEW DISCOVERIES AS DRILLING COMMENCES AT ZINC-RICH VMS DEPOSIT
A Phase 1 drill program has just commenced at Blue Moon Zinc Corp.’s 100-per-cent-owned Blue Moon zinc-rich volcanic massive sulphide (VMS) deposit in Mariposa county, California. This is the first drilling at this project in more than 25 years with new interpretations of the system providing strong potential for fresh discoveries to significantly expand the known zinc-copper-silver-gold resource.
Patrick McGrath, Blue Moon CEO, commented: “It’s an exciting new time for Blue Moon shareholders as we put our extensive review of historical data to work to identify potential new zinc-rich massive sulphide zones that could dramatically change the scale and dynamics of this project.”
Initial drilling (approximately 4,000 feet or 1,200 meters) will target northern and southern extensions of the upper Main and West lenses between a depth of 500 and 1,000 feet from surface.
Blue Moon geologists also recently performed a comprehensive review of historical data and identified multiple additional priority targets that could represent potential new high-grade zones and/or expansion of current zones, including but not limited to:
– 600 feet of favourable untested stratigraphy immediately north of the East Zone;
– Down plunge extensions of the Main and West zones;
– Drill holes on the south flank of the West zone horizon cut stringer mineralization suggesting it is a feeder zone and points to a massive sulphide target to the south of the West zone. Further evidence for massive sulphides in this area comes from an untested off-hole electromagnetic (EM) conductor identified by previous operator Westmin;
– A 2,400-foot gap between mineralization in holes B-67, B-70 and B-66 is largely untested and warrants multiple exploration holes with the potential of discovering additional massive sulphide zones;
– A 1,500-foot-long zinc-in-soil anomaly with values ranging from 390 to 2,500 parts per metre (“ppm”) has only been tested by four shallow holes and warrants further exploration drilling to test for massive sulphide mineralization underlying the soil anomaly.
Meanwhile, a review of drilling logs of the historical holes used in the NI-43-101 resource calculation revealed numerous intervals of massive and semi-massive sulphides that were not analysed. The Company will systematically sample and assay these intervals as part of the current drilling program.
Please visit our website (www.bluemoonmining.com) for additional information and to review our new corporate video.
About Blue Moon
The Company is currently advancing its 100%-owned Blue Moon zinc deposit which also contains significant credits of copper, silver and gold. The deposit, which is open at depth and along strike, yields historical metallurgical testing that indicates excellent mineral recovery and a clean zinc concentrate. A NI-43-101 technical report detailing the geological resource and summarizing metallurgical recoveries is available on the company’s website (www.bluemoonmining.com), and filed on SEDAR on November 13, 2017. The Company plans to advance the Blue Moon Project through to feasibility, permitting and ultimately production.
Qualified Persons
Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI-43-101, and has reviewed the scientific and technical information that forms the basis for this news release.
Comment by Jon - BMR — August 29, 2018 @ 4:45 am
Beautiful news Jon!! Fly me to the Moon!! 😉 Have a great day everyone!!
Comment by jeanmichel — August 29, 2018 @ 5:05 am
You gotta love these historic deposits…lots of room for expansion and discovery of new massive sulphide zones…stock could go for quite a run in September, especially in an improved metal price environment…
Comment by Jon - BMR — August 29, 2018 @ 5:09 am
Jon, will you attend Blue Moon’s annual general & special meeting of shareholders on Sept 11th? Unfortunately I can’t go to Vancouver and hope to have some coverage from you/BMR 😉 thanks!!
Comment by jeanmichel — August 29, 2018 @ 5:38 am
I tend to avoid AGM’s, jeanmichel, as they’re typically quite boring events…Daniel will be visiting the property again shortly, that’ll be a lot more exciting…
Comment by Jon - BMR — August 29, 2018 @ 5:46 am
Ho! Good to know 🙂 well, if Daniel will be on site, it’s even better! 🙂 have a great day!!
Comment by jeanmichel — August 29, 2018 @ 5:58 am