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1. Gold has traded between $1,625 and $1,646 so far today…as of 7:00 am Pacific the yellow metal is up $23 an ounce at $1,643…Gold prices are set to record their biggest weekly percentage gain since early August…Silver has jumped 19 cents to $18.52…Palladium, which has had a big week, is up $4 an ounce at 2,594…Palladium has soared in part because supply has been strained by years of stalled production by miners…Rhodium is now trading at $11,000…base metals are flat or off slightly with Copper at $2.59, Nickel at $5.65 and Zinc at 95 cents…Crude Oil has dipped $1.24 a barrel to $52.67 while the U.S. Dollar Index has retreated nearly half a point to to 99.42…reports overnight said China’s auto sales fell over 90% in February as coronavirus restrictions prevented buyers from visiting car dealerships….over 21 million autos were sold in China in 2019, making China the world’s largest auto market…the Hubei province is still in lockdown and officials there have pushed back the date for businesses to reopen to March 10…that date could be further delayed if covid-19 is not contained by then…China recorded over 800 new cases yesterday (up from around 400 Wednesday), with the total number of afflicted now at over 75,000 and over 2,200 dead…China’s central bank has loosened monetary policy, and there are concerns about Chinese companies increasing already-high debt levelsSouth Korea has reported over 200 confirmed covid-19 cases and the capital has banned all rallies in major downtown areas…Iran’s health ministry today reportedly confirmed the coronavirus had spread to several cities nationwide, before adding the flu-like virus might exist in all of them…

2.  B.C. Premier John Horgan told reporters yesterday that he’s willing to meet with the Wet’suwet’en “hereditary chiefs” under the right conditions, but cancelling the Coastal GasLink pipeline is “not an option for me”…he added he would not agree to an “open-ended” meeting with the “hereditary chiefs” who, unlike all the democratically elected First Nation groups along the pipeline route, are vehemently opposed to the project…“The notion that it would just be somehow, you have to come and talk to me without any understanding of what the end of that discussion would be, I’m not prepared to do that,” Horgan said…“I have no shortage of other nations, first of all, within B.C. that have exciting opportunities.  And they want to work with the province, and the federal government, and their local communities to find the prosperity that we all want for ourselves and our neighbours”…meanwhile, even as RCMP officers in British Columbia reportedly offered to move back from Wet’suwet’en territory – meeting one of the key demands of Indigenous protesters – there is still no end in sight to nationwide railway blockades…the economically punishing blockades are now entering their 3rd week and have led to layoffs and fears of supply shortages, with the incompetent Liberal federal government continuing to call for “patience” and “dialogue”…the Wet’suwet’en and their anarchist and eco-terrorist friends/supporters are actually ramping up their protests…an excellent example of the type of people involved came yesterday morning when a blockade was put up on a rail line between Kamloops and Chase in B.C.’s southern interior…Anushka Azadi, an activist who has previously been involved in Indigenous rights and anti-fish farm and anti-pipeline campaigns, posted photos of the blockade to Facebook with the caption “Sacred Fire CALL OUT: We are standing on the tracks across the highway from Neskonlith Hall. Come one come ALL!”…this is the typical protestor Justin Trudeau shamefully doesn’t want to stand up to…counter-protestors in Edmonton the other day showed Canadians how they can take matters into their own hands, in a non-violent way, since the police and government seem incapable of solving such an urgent problem…

3. Garibaldi Resources (GGI, TSX-V) is on the move in early trading – just prior to the open the company announced that it has drilled into multiple new near-surface massive sulphide intervals and Nickel-Copper-rich mineralization at Nickel Mountain, including some spectacular PGE enrichment…in addition, a 50-m step-out to the east of the Lower Discovery Zone shows that the E&L gabbro – with its very distinctive geological and geochemical characteristics – is now known to extend at least 400 m along plunge…within just that footprint, a magmatic Nickel sulphide deposit with a high concentration of metals can easily become a mine…the eastern part of the Lower Discovery Zone thickens to the north as evidenced by drill hole EL-19–82 (and previous holes EL-18–24 and EL-18–16) and borehole EM data which notably shows two significant conductors immediately north of EL-19–82, suggesting there’s a large pool of massive sulphides nearby that could greatly build out this part of the LDZ…EL-19-82 cut nearly 10 m of massive sulphide grading 7.2% Ni, 3.6% Cu and 4.8 g/t combined Pd-Pt-Au within a broader 32.75 m highlighted by 2.7% Ni, 1.6% Cu and 1.5 g/t Pd-Pt-Au..3 m above that massive sulphide interval and the LDZ, this hole also clipped an extraordinary 38-cm vein that grades 10 g/t Pd, 4.3 g/t Pt, 3.4 g/t Au, 26 g/t Ag, 0.12% Co, 6.5% Ni and 4.8% Cu…this certainly shows the precious metal enrichment of the system…it’s quite possible the broader area between the LDZ and the Upper Discovery Zone (UDZ) carries high PGE’s…meanwhile, another part of the hole returned 6 m of the UDZ @ 4.3% Ni, 2.3% Cu and 1.5 g/t Pd-Pt-Au…multiple other holes delivered high-grade Nickel, Copper and PGE’s…EL-19–84, the last hole of the season, cut 5.42 m @ 7.7% Ni, 3.8% Cu and 6.56 g/t Pd-Pt-Au along the southern portion of the LDZ…EL-19–79 cut 63.8 m grading 1.6% combined Ni-Cu and 1.7 g/t Pd-Pt-Au 10 m north of the central part of the LDZ…this featured two narrow high-grade massive sulphide veins, one of which returned 5.4% Ni, 7.2% Cu, 20.8 g/t Pd-Pt-Au, 33 g/t Ag and 0.09% Cobalt…the intercepts keep coming – EL-19–78 returned an impressive 59 m of disseminated mineralization northwest of the LDZ grading 1.1% Ni, 1.2% Cu and 2.3 g/t Pd-Pt-Au…EL-19–76 cut 43.6 m of 1.6% Ni and 1.3% Cu starting just 110 m downhole, including 6.1 m of massive sulphides, as it successfully targeted a traditional style of higher-grade mineralization between the main chamber of the E&L Intrusion and the LDZ to help establish the scale of the mineral lens…Jeremy Hanson, VP-Exploration, stated, “The last 9 holes of the 2019 season all hit significant intervals of Nickel-Copper mineralization and clearly demonstrate the increasing potential of a very dynamic system at Nickel Mountain”…assays are also being carried out to determine grades of Rhodium, Iridium, Osmium and Ruthenium which are already known to exist in the massive sulphides…

4. The high-grade Fruta del Norte Gold mine in Ecuador is now in commercial production…that was announced by Lundin Gold (LUG, TSX) last night…“Lundin Gold has successfully built the first large-scale underground Gold mine in Ecuador and has reached commercial production ahead of schedule and on budget.  We are now focused on ramping up to name plate production and optimization. In addition, as soon as we receive the necessary permits, we will start exploration drilling at our high priority, Barbasco target,” stated Ron Hochstein, President and CEO…Fruta del Norte produced a total of 28,678 ounces of Gold by the end of 2019…the company exported initial production of both Gold concenrate and ore to a smelter and a refinery, respectively, in December, resulting in $20.9 million (U.S.) of concentrate sales…continued underground development is ahead of projections…153,000 tonnes of ore was stockpiled at year-end…Fruta del Norte has proven and probable reserves of 5 million ounces of Gold grading 8.74 g/t…production of approximately 325,000 ounces per year has been forecast with a mine life of 14 years…LUG is up 66 cents at $11.77 through the first 30 minutes of trading…

5. Osisko Mining (OSK, TSX) has announced that drilling carried out in 2019 at Windfall Lake has increased the Indicated mineral resource estimate by 60% (added 452,000 ounces) and increased the Inferred mineral resource estimate by 66% (added 1,572,000 ounces)…the Windfall Project now hosts Indicated mineral resources of 1.21 million ounces(4.1 Mt @ 9.1 g/t) and Inferred resources of 3.94 Moz (14.5 Mt @ 8.4 g/t), entirely above 1,200 m vertical depth…located in Quebec, this mineral resource estimate moves Windfall to world-class status in terms of scale and grade…Sean Roosen, Chair and CEO of Osisko, stated: “We would like to extend our congratulations to the Osisko Mining team, led by John Burzynski, for recently completing 1 million m of drilling and delivering this world-class resource.  Osisko and Osisko Mining’s teams have collectively worked on three world class Gold deposits discovered in Quebec over the past 15 years – Canadian Malartic, Eleonore, and now Windfall. This couldn’t have been possible without the strong support of all stakeholders.  The Windfall Project will deliver substantial benefits to the province of Quebec, the area’s First Nations communities and other stakeholders”…

6. The Dow has fallen 244 points through the first 30 minutes of trading…U.S. markets are on track for their 1st weekly loss in 3…in Toronto, the TSX is down 64 points with the Gold Index bucking the trend, up 7 points to 282…Teck Resources (TECK.B, TSX; TECK, NYSE) lost $891 million in Q4 compared with a profit of $433 million in the final quarter of 2018…“Ongoing global economic uncertainty negatively impacted commodity prices in the 4th quarter and that has continued into 2020, exacerbated by the effect on markets from the Coronavirus and the impact of severe weather conditions in British Columbia, followed by blockades on rail lines,” stated President and CEO Don Lindsay…Wheaton Precious Metals (WPM, TSX, NYSE) has exceeded original Gold production guidance for the 8th consecutive year with record numbers for 2019…“We look forward to continued steady growth over the next 5 years from the highest-quality portfolio of long-life, low-cost assets in the streaming space,” stated President and CEO Randy Smallwood…the Venture is up 3 points at 584…grade is King…GGI is showing it in early trading, up 6 cents at 91 cents as a breakout builds above 85 cents…Canada Cobalt (CCW, TSX-V) should be next…Silver has broken out vigorously and that would be the catalyst that’s going to drive CCW to new highs, combined with the latest developments – more news expected shortly – at Northern Ontario’s most significant high-grade Silver discovery in the last several decades…the short-term chart shows a new wave to the upside has started following a recent healthy pullback to key support…on the Palladium stock front, the junior with the best near-term chance to report an impressive market-moving high-grade intercept (drilling started during the 1st half of January at the advanced Sunday Lake Project, news expected soon) is Transition Metals (XTM, TSX-V) which shot higher on a big volume increase last month as a prelude to what could be an explosive move very soon to new multi-year highs above key resistance in the low 20’s…the stock quickly doubled in price last April on results from Sunday Lake…heavy volume in Ridgestone Mining (RMI, TSX-V) to kick off the trading session, a clear indication this stock is coming into play with a drill program at a high-grade property in Mexico set to begin at its 35 sq. km Rebecca Gold-Copper Property in Sorona approximately 115 km east of Hermosillo…yesterday, the company announced the closing of three-quarters of a $1 million financing at 15 cents…at the open, over 2 million shares crossed at 19.5 cents and as of 7:00 am Pacific the stock is trading at 20 cents on record volume of 3 million shares…a 2,500 kg bulk sampling program from waste rock material mined principally from the Alaska vein as recently as the 1960’s returned impressive Gold grades including 6.7 g/t from just over 400 kg in 21 samples from “Veta Grande”…initial drilling will be targeting a never previously drilled breccia that has returned widespread Gold and Copper mineralization at surface…this is a relatively new company (just 2 years old) with only 37 million shares outstanding entering this $1 million round…

7. Alamos Gold (AGI, TSX, NYSE) has enjoyed a strong week following an update on the Island Gold mine as well as the release Q4 and 2019 financials…Alamos, which posted net earnings of $96.1 million (U.S.) in 2019, produced 122,000 ounces of Gold in Q4 for a yearly total of 494,500 ounces, meeting guidance for the 5th consecutive year…Island Gold, the company’s cornerstone asset,exceeded guidance with record production of 150,400 ounces, driving record mine-site free cash flow of $64.5 million (U.S.)…full year all-in-sustaining costs of $951 (U.S.) were in line with expectations…“We expect 2020 will be a transformational year for Alamos, driven by several significant catalysts,” stated President and CEO John McCluskey…”On the back of another substantial increase in mineral reserves and resources at Island Gold it is clear the ore body is evolving into a world class deposit.  A Phase 3 expansion study will be completed in the 2nd quarter and is expected to showcase a larger, highly profitable and longer-life operation.  The lower mine expansion at Young-Davidson is on track for completion in June after which we expect to transition to strong free cash flow growth”…AGI has jumped 16 cents to $9.17 as of 7:00 am Pacific…

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