BullMarketRun.com

Check out Daniel’s Den later today and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,284 and $1,294 so far today…as of 7:00 am Pacific, the yellow metal has retreated $7 an ounce to $1,286 after Friday’s surge…momentum has been creeping into the Gold market over the last couple of weeks and hedge funds have raised their net long positions, but $1,300 represents a significant wall of resistance…Silver has slipped 26 cents to $17.02…Copper is steady at $3.06 while Nickel is up slightly at $5.24…Crude Oil is 53 cents lower at $56.02 while the U.S. Dollar Index has declined one-fifth of a point to $93.90…efforts to form a 3-way coalition government in Germany have failed, raising prospects for new elections…according to Commerzbank, “There has rarely been such political uncertainty in Germany at any time in the country’s post-war history.  So far, it is not clear what effects this will have on future politics in Germany, or on European politics. Gold is therefore likely to remain in good demand as a safe haven.”

2. The U.S. economy continues to perform well…leading indicators rose by 1.2% in October, twice as much as the 0.6% increase expected by economists…the index “suggests that solid growth in the U.S. economy will continue through the holiday season and into the new year,” the Conference Board stated…

3. In the last major regulatory hurdle facing project operator TransCanada Corp., Nebraska regulators are set to decide today whether to approve or deny an in-state route for the proposed Keystone XL Pipeline…the Nebraska Public Service Commission’s ruling is on the Nebraska route TransCanada has proposed to complete the $8 billion, 1,179-mile pipeline to deliver Oil from Alberta to Texas Gulf Coast refineries…the proposed Keystone XL route would cross parts of Montana, South Dakota and most of Nebraska to Steele City, Nebraska…

4. Reflecting some of the uncertainty brewing over the possible outcome of OPEC’s upcoming meeting, money managers in the Brent market trimmed their net long position for the first time in a month…they also built up short positions more than at any time since late June…in the United States, the number of rigs drilling for new Oil production remained unchanged in the week to November 17, at 738, according to Friday’s data from Oil services firm Baker Hughes…

5. The Dow has gained 59 points after 30 minutes of trading…this will be a short week for Wall Street as U.S. markets will be closed Thursday in observance of the Thanksgiving holiday…trading volumes usually drop during shortened trading weeks, opening up the door for increased volatility…in Toronto, the TSX is flat at 15,998 while the Venture has added a point to 800 after briefly touching 806…key resistance is in the very low 800’s…Cannabix Technologies (BLO, CSE) has increased its previously announced bought deal private placement with Cormark Securities to $4,025,000….the underwriter has agreed to purchase 3.5 million units of BLO at a price of $1.15 per unit…

6. Garibaldi Resources (GGI, TSX-V) has cut what appears to be exceptionally rich Nickel-Copper massive sulphides in a new discovery zone east of the historic E&L deposit at Nickel Mountain in the Eskay Camp…downhole geophysics has been guiding geologists toward pools of massive sulphides which in turn will be the trail into the feeder zone of the first Nickel-Copper-rich sulphide system in the entire Golden Triangle, just 11 miles southwest of the hugely rich Eskay Creek mine…GGI’s Discovery Hole 14 has cut 16.7 m of continuous massive sulphides (assays pending) beginning at a depth of 123.7 m in a hole collared 200 m east of the historic deposit and drilled back toward the west…since another hole near EL-17–14 cut 7.2% Nickel and 3.4% Copper in 4.8 m in massive sulphides within a much broader interval, it’s believed the grades in the EL-17–14 massive sulphide intercept will be similar (in excess of 7% Nickel and 3% Copper)…the hole was completed to a depth of 252 m, so there are likely other intervals of mineralization that will also broaden the Discovery Hole intercept…the tenor of the sulphide at Nickel Mountain is now believed to be at the high end of the previously estimated range…in addition, initial analysis shows that Nickel Mountain mineralization has a low pyrryhotite to Nickel ratio and contains no significant deleterious elements, meaning the Nickel sulphide is potentially of very high quality for processing purposes…in short, the GGI Discovery Hole at Nickel Mountain compares very favorably to Diamond Fields’ discovery hole (#2) at Voisey’s Bay, almost exactly 23 years ago, which cut about 40 m of just under 3% Nickel…GGI traded as high as $5.05 shortly after the open but has since pulled back on profit taking and a typical knee-jerk “sell on news” reaction of traders…

7. Marathon Gold (MOZ, TSX) is unchanged in early trading after releasing fresh drill results from its 100%-owned Valentine Lake Gold Camp in central Newfoundland…drill holes MA-17–226 and MA-17–230 intersected wide intervals of continuous Gold mineralization down through the en-echelon stacked QTP-Au veining of the 50 to 125-m wide, sub-vertical main zone corridor of the Marathon deposit…hole MA-17–235 also returned 4.8 m @ 11 g/t Au within a broader interval of 28.8 m grading 3.4 g/t…the new drill results will be incorporated into the Valentine Lake property-wide resource update to be released within the next 2 weeks…the drilling will also form the basis for the PEA expected to be completed in Q2 of 2018…to date, Marathon has released the results of 52% of its current planned 60,000-m drill campaign…future drilling at Marathon will focus on resource expansion and upgrade including infill drilling in the upper open-pit as well as underground regions of the deposit, step-out drilling to the southwest along strike to further expand the open-pit, and hanging and footwall drilling aimed at reducing waste in the resource pit shell…

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