BullMarketRun.com

1. Gold has traded between $1,191 and $1,199 so far today…as of 7:00 am Pacific, bullion has rebounded $6 an ounce to $1,197…India’s Gold imports more than doubled in August to hit their highest level in 15 months as lower prices prompted manufacturers to replenish inventory, according to provisional data from metals consultancy GFMS…the 116.5% jump in Gold purchases year-on-year to 100 tonnes last month by the world’s 2nd biggest consumer should provide support to global prices which have so far slid 8.5% in 2018…Silver has added 5 cents to $14.19…base metals have rallied modestly with Copper, Nickel and Zinc at $2.66, $5.68 and $1.11, respectively…Crude Oil has pulled back 37 cents to $69.50 while the U.S. Dollar Index is up one-tenth of a point at 95.48…

2. Goldman Sachs is dropping its plan to open a trading desk for cryptocurrencies, Business Insider reported today, as the firm sees the regulatory environment as ambiguous…the Wall Street bank has been considering the launch of a new trading operation focused on Bitcoin and other digital currencies for the past year…Goldman executives concluded that many steps still need to be taken, most of them outside the bank’s control, before a regulated bank would be allowed to trade cryptocurrencies…

3. China’s Zijin Mining Group will buy Canadian Gold and Copper miner Nevsun Resources (NSU, TSX) for about $1.86 billion (CDN), the companies announced today, after Nevsun rejected multiple bids from rival Lundin Mining (LUN, TSX)…Zijin Mining, which specializes in Gold, Copper and Zinc, is offering $6 per share in cash for Nevsun, representing a premium of about 21% to Nevsun’s close on the TSX yesterday…Lundin took its all-cash offer of $4.75 per share directly to Nevsun shareholders on July 26, after its 5 previous proposals were rejected by the company…Nevsun revealed last month, after the latest Lundin offer had been rejected, that it had entered into confidentiality agreements with 18 interested parties, and had received 4 proposals from mining and smelting companies, indicating their willingness to purchase up to a 19.9% stake in the company…

4. The Dow is off slightly (14 points) through the first 30 minutes of trading…in Toronto, the TSX has fallen 74 points…Goldcorp Inc. (G, TSX, NYSE) says it has achieved “significant progress” on key permitting and project milestones that are a part of the company’s 5-year 20/20/20 plan to increase Gold production and Gold reserves by 20% and decrease all-in sustaining costs per ounce by 20%…the company has advanced projects “on time and on budget through the permitting and development process,” states President and CEO David Garofalo…the Venture, which climbed as high as 729 in early trading yesterday, is off another 4 points at 714 as of 7:00 am Pacific…a strong support band exists between 710 and 720, and the shortened trading week is shaping up to end better than how it started…

5. GT Gold (GTT, TSX-V) has drilled its best intercept yet at Saddle South in the Red Chris district, cutting 41 m grading 9.5 g/t Au and 59.5 g/t Ag in drill hole #79, including separate intervals of 6.3 m grading 24.7 g/t Au and 213 g/t Ag, and 8.8 m @ 23.9 g/t Au and 99.7 g/t Ag…the 41 m of high-grade (true width is estimated at 65%) came at a depth slightly below 500 m but demonstrates that Saddle South has deep roots which enhances the likelihood that Saddle North is a powerful Gold-rich porphyry system with very deep roots, likely in excess of 1,000 m…assays are pending for the first 2018 drill hole at Saddle North which could prove to be a major game-changer for GTT, depending on grade…the Saddle mineralized system is a large intrusive complex and the source of the high-grade Gold is indeed the porphyry…at Saddle South, the company has now cut high-grade intercepts east, west, south and to depth along 1,000 m of east-west trend and to 350 m of north-south width for a significant expansion of the system from last year’s initial discovery (the mineralized footprint has more than doubled in size)…GTT opened at 72 cents this morning after yesterday’s halt but is now up only a penny at 63 cents through the first 30 minutes of trading…most investors have not drawn the linkage yet between the high-grade found at depth in holes #79 and #76, and the adjacent porphyry…

6. Corvus Gold (KOR, TSX), one of the top-performing Gold stocks this year, has received more encouraging results from the final 8 western step-out holes from Phase 2 drilling at its Mother Lode Project in Nevada…all drill results to date, including 172 historical holes for a total of 250 drill holes, will be included in a maiden mineral resource estimate scheduled for release later this month…the expansion potential of the Western zone, and notably the Western feeder zone at depth, is highlighted by drill holes ML18–074 (25.9 m @ 2.34 g/t Au) and ML18–077 (50.3 m @ 2.67 g/t Au)….Phase 3 drilling is now underway at Mother Lode and is expected to continue to further expand the project to the west, north and at depth as outlined over the past year…the Western feeder zone is a potential high-grade shoot feature within the broader Fluorspar Canyon Fault (FCF) structural zone and has been intersected by a number of recent holes with impressive results: ML18–060, 21.3 m @ 3.47 g/t Au; ML18–067, 18.3 m @ 4.02 g/t Au; ML18–068, 54.9 m @ 1.86 g/t Au; ML18–074, 25.9 m @ 2.34 g/t Au; ML18-077, 50.3 m @ 2.67 g/t Au….the Western feeder zone is the structural target at depth where the favorable Mother Lode sequence of host rocks occur adjacent to the feeder structure…

7. Cronos Group (CRON, TSX, NASDAQ) is up strongly again this morning, buoyed by news of a partnership with Boston’s Ginkgo Bioworks…the deal will see the 2 companies study and try to produce 8 different types of cannabinoids in a lab – a bid to create a proprietary process that will help Cronos gain scale and its lower costs…Cronos says these cannabinoids are currently found in the cannabis plant in limited quantities and can be pricey to extract today…whatever they develop could be used by Cronos to formulate a new edible, beverage or medical product in the future….Cronos is earmarking $22 million (U.S.) for this research and could issue shares to Ginkgo worth up to $100-million (U.S.) if certain milestones are met…Cronos CEO Mike Gorenstein stated, “We don’t want to be the farmer.  Our end goal is products and brands.  We think that we get there by specializing in the active pharmaceutical ingredients [API] and we leverage that to get to the other parts of the value chain”…

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