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1. Gold has traded between $1,502 and $1,529 so far today…as of 7:00 am Pacific, bullion off its lows of the morning and up $4 an ounce at $1,523…the recovery started as soon as the U.S. jobs report for August was released at 5:30 am Pacific…Silver corrected to the $18 level and then snapped back quickly after the jobs report, now up 7 cents to $18.71…Nickel is up slightly at $7.97 while Copper and Zinc are both steady at $2.61 and $1.05…Crude Oil has retreated 88 cents a barrel to $55.42 while the U.S. Dollar Index has fallen one-fifth of a point to 98.21…White House economic advisor Larry Kudlow told CNBC this morning that recent trade discussions with China “went very well.  The phone lines have been open during this period and the negotiations have been proceeding”…Liu He, China’s top negotiator on trade, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin held a phone call on Wednesday and agreed to meet in early October for another round of face-to-face negotiations…Kudlow added, “Deputies level meetings will continue in Washington later this month and from those deputies level meetings will come agenda and outline for early October”…Canada’s economy created 81,100 net new jobs last month, a nice headline number but the bulk of those positions were part-time in the services sector…57,200 of the new jobs were part-time and 42,000 of the positions were held by young workers aged 15 to 24 years old, almost all of whom were women…

2. U.S. employers added to payrolls at a steady pace and unemployment stayed historically low in August, suggesting the  economy held firm during a month when a deepening global slowdown and faltering manufacturing activity stoked fears of a sharp slowdown…the U.S. economy added 130,000 payrolls in August, the Labor Department reported this morning…the unemployment rate was unchanged at 3.7% for the 3rd consecutive month, remaining near its 50-year low…average hourly earnings climbed a seasonally adjusted 3.2% from August 2018, down from a recent peak of 3.4% in February and offering few signs of a breakout…overall, the job market was on slightly weaker footing than expected…payrolls in June and July were revised down by a combined 20,000, while economists surveyed by The Wall Street Journal had estimated that employers added 150,000 jobs in August…the unemployment rate was in line with forecasts at 3.7% last month…for the 3 months ended in August, average monthly payroll growth was 156,000, down from an average 190,000 a month in the 8 years since jobs started growing after the last recession…the latest employment figures provide evidence the U.S. economy is losing momentum but remains on stable footing, thanks to a solid job market and consumers who continue to hit the stores despite slowing global growth and heightened trade frictions…

3. China’s central bank has announced that it’s reducing the amount of funds that banks have to hold in reserve, in an effort to further stimulate the Chinese economy…The People’s Bank of China said the move will take effect a week from this coming Monday…it’s the 3rd time that the PBOC has cut the so-called reserve requirement ratio this year, and the 7th time since early 2008…in July, China said GDP growth slowed to 6.2% in the 2nd quarter, the weakest rate in at least 27 years…

4. What have we become as a nation, one that was built on resources?…a Calgary man on a recent tour of the Senate was told to remove a shirt that displayed his support for the Oil and gas industry…William Lacey, a chief financial officer for Steelhead Petroleum, wore a shirt said “I (heart) (maple leaf) OIL & GAS” during a tour of the Senate over the long weekend and said he was swiftly taken aside by security and told to either wear the shirt inside-out or leave…“The security guard looked at me and said: ‘Excuse me sir, I’m going to have to ask you to remove that shirt’…And I looked and him and I said, ‘Excuse me?’…And he said: ‘Yes, you’re going to have to remove that shirt because some people may view that as being offensive,’” Lacey told CTV News…in a statement yesterday afternoon, the Parliamentary Protective Service said its guard had gone too far…“At the outset, we offer our apologies to the gentleman that raised this issue for the situation he experienced during his tour,” said the statement from Guillaume Vandal…“In this case, the personnel misinterpreted a message on the visitor’s article of clothing.  The staff involved will be receiving operational guidance and training with respect to visitors to the Hill”…

5. From the Eskay Camp this morning, news that Metallis Resources (MTS, TSX-V) has commenced a 4,000-m Phase 1 drill program at its 100%-owned Kirkham Property…high-grade Gold targets are the initial focus of Phase 1 drilling, following up on a discovery late last season when drilling intersected 137 g/t Au over 0.6 m within 7.7 m grading 11.2 g/t Au starting just 57.3 m downhole at the Cole target (KH-18–19)…extensive mapping, VLF surveys, trenching, rock and soil sampling this summer, along with structural modeling at the adjoining Cole and Etta targets, have outlined a strongly altered 1,000-meter long by 300-meter wide zone of northeast oriented sub-parallel faults that appear to control the high-grade Gold-bearing quartz sulphide veins…the zone is open for further expansion…Fiore Aliperti, Metallis President and CEO, commented, “From high-grade Gold to Nickel sulphide to Gold-copper porphyry, the 106 sq. km Kirkham Property has advanced remarkably over the past 2 years and features strong potential to host multiple deposit types.  We are vigorously testing exciting target areas covering each of those deposit types and we look forward to providing steady news flow with progress updates and results”...MTS is up 7 cents at 82 cents as of 7:00 am Pacific after the stock found support as expected at is rising 50-day moving average (SMA) in the mid-70’s…

6. The Dow is up slightly through the first 30 minutes of trading…in Toronto, the TSX is off 38 points while the Venture has rebounded 5 points to 591 after yesterday’s minor pullback…2 high-grade plays we’ve been tracking that have confirmed important breakouts this week are Canada Cobalt (CCW, TSX-V) and Benchmark Metals (BNCH, TSX-V)…CCW is pursuing a major high-grade Silver opportunity (along with Cobalt) at its Castle mine in the rich Gowganda Silver-Cobalt Camp in Northern Ontario (underground drilling and surface tailings)…technically, the stock has broken out into the 30’s above a down channel that formed in the spring in a similar pattern to moves in 2017 and 2018 that led to huge gains in the stock in less than 2 months…Benchmark has been enjoying early success at its Lawyers Gold-Silver Project in north-central British Columbia with the stock now pushing into the 40’s toward a new multi-year high…this morning came word from the company in a news release that Eric Sprott is acquiring 13.3 million shares of Benchmark in a $7.5 million private placement (30 cents hard dollar and 40 cents flow through)…Sprott will own approximately 14.3% of the company on a non-diluted basis…A.I.S. Resources (AIS, TSX-V) is up half a penny at 10 cents after announcing that it has mined 1,000 tonnes of manganese, consistent with the company’s production target of 1,000 tonnes every 2 weeks…600 of the next 1,000 tonnes has been bagged and readied for road transport to the port in Peru…to date, government customs analysis has certified the 21 containers sent at 43.24% Mn and 1.57% Fe…

7. Marathon Gold (MOZ, TSX) has arranged a $20 million bought deal financing with a syndicate of underwriters led by Canaccord Genuity and Sprott Capial Partners…they have agreed to purchase 11.4 million common share units at $1.32 per unit (includes a 2-year half warrant exercisable at $1.60) in addition to $2.7 million flow-through units at $1.85 per unit with no warrant…as previously disclosed, Franco-Nevada (FNV, NYSE) acquired a 2.0% NSR royalty from Marathon in February of this year and has advised the company that it intends to participate in the offering…“Franco Nevada Corporation is the leading Gold-focused royalty and streaming company and we are very pleased by their participation in the financing and ongoing support of the company,” said Matt Manson, President & CEO of Marathon…mineral resource updates for both the Leprechaun and Marathon deposits will be completed this quarter…infill drilling has been completed at the Leprechaun deposit, and both infill and exploration drilling are continuing at Marathon…exploration drilling in the Sprite zone gap area starts this month…a PFS is forecast to be completed by the middle of next year…

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