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1. Spot Gold has traded between $1,780 and $1,761 so far today…as of 7:00 am Pacific the yellow metal is unchanged at $1,767 after hitting nearly an 8-year high…ETF inflows continued yesterday with holdings in SPDR Gold Trust up another 0.28% to their highest level since April 2013…Silver has slipped 30 cents to $17.65…Copper is steady at $2.68…Nickel is off slightly at $5.67 while Zinc is steady at 92 cents…Crude Oil is 77 cents lower at $39.60 while the U.S. Dollar Index has rebounded one-third of a point to 96.98…Germany’s closely watched Ifo business sentiment index rose by a record amount in June, coming in at 86.2 from 79.7 in May…“German business sees light at the end of the tunnel,” said the Ifo report…this is just the latest piece of data suggesting major global economies are healing faster than most economists had expected…has the left in North America turned completely nuts?…as the “defund the police” movement intensifies, raising the stakes for November’s elections, Oakland Mayor Libby Schaaf stated yesterday that police officers should be replaced by public employees who can respond to traumatic scenes and other situations she described as unrelated to law enforcement…“We are excited, as many cities are, to reimagine public safety,” Schaaf said during a call with 3 other mayors, “and that means not just to reform the police, but to replace the police with more trauma-informed and care-based, community-led responses that really don’t warrant a badge and a gun”…meanwhile, Walmart Canada says it’s investigating to see if items sold on its website breach the company’s “terms and conditions” after social media users expressed outrage over “All Lives Matter” and “Blue Lives Matter” products on its site…Walmart has been selling clothing with the “Lives Matter” slogans, including items featuring the phrases “All Lives Matter” and “Blue Lives Matter” (in reference to the police), sparking criticism in the wake of recent BLM protests against “systemic” racism and police brutality…“What is there to ‘look into’? It’s racist. Remove it,” tweeted one user…what kind of a world are we in when stating that “all lives matter” or “blue lives matter” is condemned (by liberals) to be “racist”?…all lives DO matter…
2. Parts of the U.S. are beginning to see a surge in COVID-19 infections, not surprising given recent protests across the nation in addition to reopening measures…while New York state is seeing a decline in cases, other states are seeing a jump in cases that “reflects an increase in community spread,” stated Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, during a hearing before the House Energy and Commerce Committee…as of Monday, the U.S. 7-day average of new COVID-19 infections increased more than 30% compared with a week ago, according to Johns Hopkins University data…cases are growing by 5% or more in 26 states, including Arizona, Texas, Florida and Oklahoma…hospitalizations, a better indicator, are on the rise as well…Texas Gov. Greg Abbott and Florida Gov. Ron DeSantis said they would step up enforcement of physical-distancing guidelines…meanwhile, Washington State Governor Jay Inslee announced yesterday that the state will impose a mandatory requirement effective this Friday that people wear face coverings or masks in indoor public spaces and outdoors where 6 feet of physical distancing is not possible…California has done the same…
3. Vizsla Resources (VZLA, TSX-V) jumped out of the gate robustly this morning following yesterday’s halt and news of a high-grade discovery in the Napolean vein corridor of its Panuco Silver-Gold Project in Sinaloa, Mexico…5 holes have been completed to date and results have been received for the mineralized intervals of 2 holes, NP-20–02 and NP-20-03, with high grade intercepts returned…the company, which completed a $4.6 million bought deal financing last week at 43 cents a share, has restarted exploration and currently has 2 drill rigs operating on the property…NP-20–02 returned 738.9 g/t Ag and an impressive 11.1 g/t Au over 8.2 m starting just 108.6 m downhole, including 1,527.5 g/t Ag and 24.9 g/t Au over 2 m…meanwhile, NP-20–03 returned 453.8 g/t Ag and 9.2 g/t Au over 2.5 m from 76 m in addition to 309.3 g/t Ag, 8 g/t Au, 2.2% Pb and 4.75% Zn over 5.1 m from 102 m (true widths estimated at 46% to 66% of downhole lengths)…the main high-grade hangingwall vein intersected in holes NP-20–02 and NP-20–03 has a true width of between 3.4–5.3 m…the drill rig has been moved north and is drilling beneath the old Napoleon mine in hole NP-20–06…the hole is currently in progress and has intersected veins 60 m to the north of hole NP-20–03…Vice President of Exploration Charles Funk commented: “These results are a very exciting discovery for Vizsla with multiple veins intersected in drilling containing very high-grade Silver, Gold and base metals. These holes are the first ever drilled on the Napoleon vein which extends over more than 2 km of strike and hosts multiple small-scale mines and mineralized outcrops. Drilling is ongoing with two deeper holes and a hole in progress 60 m to the north of NP-20–03, all which have each intersected veins. Vizsla is continuing to step out to expand and define the footprint of mineralization at Napoleon”…the Napoleon Vein Corridor is located almost entirely on concessions optioned from Rio Panuco which Vizsla has the right to purchase 100% of including the 500 tonne per day El Coco mill, tailings facility, roads, power and permits for a total of $23 million (U.S.)…VZLA opened at 62 cents and is holding above that level on high volume in early trading, a sign of strength…it’s up 27 cents at 71 cents as of 7:00 am Pacific for a market cap of $48.8 million…the stock hit an all-time high in the 90’s late last year…
4. The Dow is under pressure in early trading due to COVID-19 concerns…as of 7:00 am Pacific, the index is off 432 points…with the S&P 500 up more than 21% for the quarter so far (coming into today), strategists are handicapping the likelihood that pensions and other funds and investors will sell some of their big stock market gains and buy bonds and/or precious metals in the course of the next week…estimates of how much could move out of the stock market are wide ranging…JPMorgan analysts say if stocks lose ground as a result, it would be a buying opportunity…in Toronto, the TSX has fallen 200 points…the Gold Index is holding steady at 331…the Venture is unchanged at 575…GoGold Resources (GGD, TSX) has drilled 11 m grading 424 g/t Silver equivalent in the northernmost hole drilled to date at its Los Ricos South Project in Mexico…drill hole LRGG-20–77 intersected the Los Ricos quartz vein from 104 to 143 m for 39 m of 151 g/t Silver equivalent (2 g/t Au and 117 g/t Ag), including the higher-grade intercept of 11 m @ 424 g/t AgEq…GGD has slipped a penny to 92 cents…Freegold Ventures (FVL, TSX), continuing to look strong, is off a penny at 82 cents…interesting deal announced by Graphite Energy (GRE.X, CSE) this morning…the company announced it has entered into an agreement, with 3rd party arm’s-length vendors, to acquire 100% of a company that controls 7 tenements that are “highly prospective for Gold mineralization in Western Australia”…Graphite Energy, with only 8.8 million shares outstanding at the moment, will change its name and complete a $2 million financing at 20 cents per unit…
5. Alexco Resource (AXU, TSX) has arranged a $20 million bought deal hard dollar financing at $2.73 a share…no warrant is included…Wheaton Precious Metals (WPM, TSX) is the lead order for $5 million…meanwhile, Alexco also announced this morning that it has received a draft amended and renewed water use licence for the Keno Hill Silver district from the Yukon Water Board…with this in hand, the company is moving forward with final development of its mines at Keno Hill, anticipating initial concentrate production and Silver sales in Q4 2020…separately, Alexco is also mobilizing personnel and equipment to begin the Bermingham deep surface exploration drilling program next month…this 4,000+ m drill program will test for offsets and extensions of the previously discovered Silver mineralization approximately 200 m vertically below the NE Zone of the Bermingham deposit, which overall contains an Indicated Mineral Resource of 32.9 million ounces of Silver at an average grade of 930 g/t…the 2020 exploration drilling will be focused at depth, approximately 250 m along strike northeast of the Silver mineralization discovered in 2019, where best results returned 1,414 g/t Ag over an estimated true width of 8.15 m in the Bermingham Footwall vein structure…
6. Superior Gold (SGI, TSX) has found more high-grade Gold in its continuing underground diamond drill program focused on reserve and resource expansion at its 100%-owned Plutonic Gold mine in Western Australia…drilling is targeting potential extensions to the Gold mineralization in the area between the Baltic and Baltic Deeps Zones…drill hole UDD22310 cut 40.4 g/t Au over 6.50 m, including 232 g/t over 0.90 m, while drill hole UDD22309 returned 12.4 g/t over 4.1 m…the drilling was focused on the area vertically between the Baltic and Baltic Deeps mineralized zones which has not previously been tested…Chris Bradbrook, President and CEO, stated: “These drill results…(further) illustrate the potential to extend the Baltic Zone and connect it towards the Baltic Deeps mineralization. This potential was first illustrated in an earlier set of drill results that was published in late 2019. The most recent drilling was completed over a strike length of approximately 150 m and a vertical extent of more than 120 m. Mineralization remains open both up and down dip and along strike, in addition to being close to existing infrastructure. The Baltic and Baltic Deep Zones are key components of the 5-year underground Life of Mine (“LOM”) plan that was announced in October 2019, and consequently, these results illustrate the potential to expand resources used in this plan. These latest results, together with our most recent underground exploration update, continue to confirm the potential of the mineralized system at the Plutonic Gold mine to deliver positive exploration results, and illustrate the potential to increase overall resources”…
7. The global pandemic is set to pave the way for “The Age of Copper”, according to the director of energy, climate and resources at Eurasia Group, as governments double down on investments that will drive up demand for the red metal…Copper is widely seen as a bellwether for the general state of the economy and has rebounded sharply since its Corona Crash low when it touched the bottom of the uptrend line on its long-term chart. Earlier this month, Copper pushed above its 200-day moving average (SMA)…3 favorite BMR Copper stocks are GT Gold (GTT, TSX-V), Copper Mountain (CMMC, TSX) and Ero Copper (ERO, TSX)…Eurasia Group’s Henning Gloystein said in a research note yesterday that the pandemic is expected to accelerate trends in government-supported environmental investments and digitalization, which “heralds a coming boom in Copper demand. Huge green and digital stimulus programs, especially in Asia and Europe, will create the conditions for a boom in Copper demand – electric vehicles, 5G networks, and renewable power generation all require large amounts of the red metal”…shifts in transportation are expected to be the “biggest single driver of Copper usage”, Eurasia Group stated…“The electric vehicles industry currently makes up just 1% of Copper demand. By 2030, many analysts expect that figure to reach 10%”…
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Why not just coat every surface of the world with COPPER, it would help slow the spread of viruses.
Comment by daniel — June 24, 2020 @ 11:30 am
That would just make to much sense Daniel, it’s to easy!! But I absolutely agree.
Comment by Laddy — June 24, 2020 @ 1:53 pm
They can start with all copper doorknobs…
Comment by AFchief — June 25, 2020 @ 6:47 am