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1. Spot Gold has traded between $1,792 and $1,816 so far today…as of 7:00 am Pacific the yellow metal is up $15 an ounce at $1,810…Silver, also looking very strong as it outpaces Gold, has added 43 cents to $18.70…we should see Silver top $20 relatively soon based on chart patterns…macro forces are the main driver pushing Gold prices higher, says TD Securities: “Ultimately, macro forces have prevailed as the primary driver of Gold prices – in the context of uber-low rates volatility, normalizing long-term inflation expectations have sent real yields lower, which has continued to drive support for the yellow metal. The last few months of fiery performance in risk assets has seen some money managers consistently sell Gold amid risk-on behavior in markets, only to see prices grind higher shortly thereafter. This regime has led Gold to trade as an inflation-hedge asset – a still nascent theme that has substantial room to grow”…base metals continue their upward trend…Copper is up 2 cents at $2.81…Nickel has added 3 pennies to $6.05 while Zinc is 2 cents higher at 95 cents…Crude Oil has gained 12 cents to $40.74 while the U.S. Dollar Index has fallen one-third of a point to 96.57…technically, the dollar is in trouble and that’s good news for commodities and the Venture…should it come as any surprise what Justin Trudeau has done?…The Globe and Mail reported last night that Finance Minister Bill Morneau will forecast a deficit in excess of a staggering $300 billion later today – no other major advanced economy tracked by the International Monetary Fund is expected to record a larger 1-year fiscal swing in 2020, so Trudeau cannot blame this on the pandemic alone – it represents his core belief in Big Government (no different than his father 40 years ago when he ran up a $40 billion deficit at the time) and demonstrates a gross Liberal government mismanagement of taxpayer dollars…Canadians will ultimately pay the price with higher taxes and an under-performing economy…President Trump is ramping up his pressure campaign to get public schools to fully reopen amid the COVID-19 pandemic, tweeting this morning that he may withhold federal funding from schools that do not resume in-person classes this fall…

2. In blistering remarks yesterday, FBI Director Christopher Wray slammed the Chinese government for its use of espionage and cyberattacks against the United States which has amounted to what he called “one of the largest transfers of wealth in human history. The stakes could not be higher, and the potential economic harm to American businesses and the economy as a whole almost defies calculation,” Wray said of the Chinese government during an address at the Hudson Institute…“To achieve its goals and surpass America, China recognizes it needs to make leaps in cutting edge technology, but the sad fact is that instead of engaging in the hard slog of innovation, China often steals American intellectual property and then uses it to compete against the very American companies it victimizes, in effect, cheating twice,” he said, adding that the Chinese government targets “research on everything from military equipment to wind turbines”…

3. The U.S. has reported a record daily number of COVID-19 cases – 60,021…Arizona, California, Florida and Texas have accounted for nearly half of all new cases in the U.S. in recent days…6 months after the coronavirus emerged, most of the world’s most-populous countries are still struggling to push infection rates below peak levels…in the U.S., India, Bangladesh, Pakistan, Indonesia, Nigeria, Brazil and Mexico – which contain nearly 40% of the world’s population – the number of new cases reported in June was higher than in May…India’s problem may only have just started – it has tested only 1% of its population…big countries including India, the U.S., Bangladesh, Brazil and Nigeria have large pockets of dense and poor urban areas where the disease has spread…in these places, multiple generations of family may live together, and many lack the resources that would allow them and their families to isolate and wait out the pandemic at home…the COVID-19 situation, as unfortunate as it is, bodes well for Sona Nanotech (SONA, CSE) which last Thursday released exceptional validation results for its Rapid Response COVID-19 test, expected to earn near-term approval from the FDA…SONA’s unique Gold nanorods – they have a patent on this technology – is the key, and these nanorods – as opposed to the commonly used nanospheres – could power the next generation of lateral flow diagnostics…SONA has essentially created a new platform for lateral flow with this disruptive technology…the stock is up 17 cents at $7.64 as of 7:00 am Pacific…

4. Amex Exploration (AMX, TSX-V) has intersected 35.1 g/t Au over 3.3 m, including 221 g/t over 0.50 m, at a vertical depth of 828 m in the deepest hole drilled to date on the High-Grade Zone at its Perron Property near Rouyn-Noranda…this intercept increases the depth of the HGZ by approximately 30 m and increases the strike of mineralization by approximately 20 m to the east…meanwhile, drill hole PE-20–168 cut 15.6 g/t Au over 11.35 m, including 260.5 g/t Au over 0.60 m at a vertical depth of approximately 504 m which represents one of the widest intervals intersected to date on the HGZ…4 of the 5 drills turning at Perron intersected visible Gold mineralization covering the HGZ, Denise Zone, and the Grey Cat Zone…Jacques Trottier, Amex Executive Chairman, stated: “We are hitting on all fronts at Perron. This has been one of the most successful drill programs of my career. So far, our expectations are continually exceeded on the HGZ, where we have intercepted more than an ounce per tonne per meter at depth over widths that are very suited to conventional underground mining. We are also making significant progress elsewhere across the property, where we have started testing the near-surface portion of the Denise area, which runs parallel to the HGZ, as well as resumed exploration on the Grey Cat Zone. We look forward to receipt of those results plus the results from our metallurgical testwork on the HGZ”…

5. The Dow has jumped 188 points through the first 30 minutes of trading…in Toronto, the TSX has climbed 93 points while the red-hot Venture has jumped another 14 points to 665…Vizsla Resources (VZLA, TSX-V) was halted yesterday with news still pending…the company’s Panuco Project in Mexico shows exceptional high-grade potential…Canada Silver Cobalt (CCW, TSX-V), with perhaps the highest-grade Silver resource on the planet, has broken out aggressively above stiff resistance in the high 50’s…CCW is up another nickel at 65 cents through the first 30 minutes of trading as drilling continues at Castle East…Probe Metals (PRB, TSX-V) is breaking out technically, up 7 cents at $1.41…Marathon Gold (MOZ, TSX) has appointed Tim Williams Chief Operating Officer…Williams is a professional engineer with over 25 years of experience in mine construction and operation…between 2011 and 2016 he served as Vice-President of Operations for Rio Alto Mining, and subsequently Tahoe Resources, during which time he was responsible for the construction, ramp-up and successful operation of the La Arena Gold mine in Peru and the construction of the nearby Shahuindo Gold mine…La Arena and Shahuindo are currently operated by Pan American Silver…Etruscus Resources (ETR, CSE), which has shown high-grade Gold-Silver potential over multiple targets including the Black Dog resource at its large Rock ‘N Roll Property in the Eskay Camp adjacent to the Snip mine, has arranged a $1 million private placement ($350,000 in hard dollars at 35 cents and $650,000 in flow-through at 50 cents)…ETR, trading at 38 cents, is the most tightly held stock in the Eskay Camp with a current market cap of less than $9 million, far below the district average…Tudor Gold (TUD, TSX-V) has closed a $9.3 million charity flow-through financing with Eric Sprott as the end buyer…Sprott now owns 32.3 million Tudor shares, 19.9% of the company on a non-diluted basis…

6. Fiore Gold (F, TSX-V) has announced Gold production of 12,792 ounces for its fiscal Q3, a 2nd successive quarter of record production…stripping ratio has been reduced as guided to 1.3:1…the company had a closing quarter cash balance of $17.3 million, a significant increase of $8.2 million relative to last reported cash at March 31…CEO Tim Warman stated, “With another record quarter for Gold production, and completely unhedged sales, Pan is demonstrating its true cash flow generation potential and providing our investors with full exposure to the strong Gold price. Our cash balance increased by $8.2 million in the quarter while at the same time we continued investing in exploration and study work at both Pan and Gold Rock. Our cash and net working capital position, combined with no corporate debt, put us in a strong position to advance the resource expansion drilling and metallurgical work required to support the Gold Rock Feasibility Study. We are also pleased to have concluded an extensive drill program at Pan during the quarter. The 71,505 feet of drilling will support an updated resource and reserve estimate and related Life of Mine plan in H2 2020. We continue to work aggressively toward our goal of operating Pan and Gold Rock in unison, providing organic growth to annual Gold production of more than 100,000 ounces in Nevada”…Fiore is up 11 cents at $1.34 through the first 30 minutes of trading…

7. Copper Mountain Mining (CMMC, TSX), which continues to gain traction, announced moments ago that it has successfully installed and commissioned the direct flotation reactors (DFRs) at its Copper Mountain mine in southern British Columbia, both on schedule and on budget…this represents the first stage of its mill expansion project which will bring plant capacity to 45,000 tonnes per day from 40,000 tonnes per day…the installation of the DFRs increases the efficiency and the capacity of the current cleaner circuit, which is expected to increase Copper concentrate grade from about 25% to 28%, resulting in lower concentrate transportation, smelting and refining costs…“We are pleased that the installation of the DFRs was completed on schedule and on budget,” commented Gil Clausen, Copper Mountain’s President and CEO…“The DFRs have been commissioned and turned over to operations. This is a testament to the great work of our operating and projects team. The DFRs are a low capital, high return project and we are already seeing improved concentrate grades. The next stage for the mill expansion project is the installation of the third ball mill. We have the ability to rapidly restart this stage as we have maintained long lead time expenditures and we also have the flexibility to accelerate the project as necessary. With the installation of the third ball mill, we expect production to increase by 15 to 18% as a result of higher throughput and improved recoveries”…CMMC, one of our favorite Copper plays, is up 4 cents at 70 cents as of 7:00 am Pacific…Copper Mountain’s revenue for Q1 was $49.6 million (CDN) from the sale of 17.9 million pounds of Copper, 6,364 ounces of Gold and 78,572 ounces of Silver, net of pricing adjustments…production guidance of 70 to 75 million pounds of Copper for 2020 remains on track…all-in cost guidance for 2020 is $2.20 to $2.35 (U.S.) per pound…

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