BullMarketRun.com

Visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,253 and $1,264 so far today, touching a 4-month low as a Federal Reserve meeting rapidly approaches with the central bank expected to raise rates for the 3rd time this year…as of 7:00 am Pacific, the yellow metal is off $9 an ounce at $1,254…Silver has dipped 12 cents to $15.80, a 5-month low…Copper is up a penny at $2.97 while Nickel has added 7 cents to $4.95…Crude Oil is up 31 cents to $56.27…the U.S. Energy Information Administration released weekly data showing a 6.8 million barrel increase in gasoline inventories for the week ended December 1, as well as record U.S. Crude production of 9.7 million barrels a day for last week…the U.S. Dollar Index has gained nearly one-fifth of a point to 93.67…euro zone 3rd-quarter GDP came in unrevised and in line with expectations, up 0.6% from the 2nd quarter and up 2.6% year-on-year…China’s Gold reserves were unchanged at 59.24 million ounces in November, compared with the previous month, the central bank said this morning…meanwhile, global holdings in Gold-backed exchange-traded funds (ETF) rose by 9.1 tonnes to 2,357 tonnes in November, with the net inflows coming entirely from Europe as the U.S. dollar fell, according to data released by the World Gold Council…

2. The price of bitcoin topped $15,000 for the first time today in a fresh rally that continues to hit new highs, just days before Cboe Global Markets launches bitcoin futures (followed soon after by CME Group)…bitcoin’s gains this year have accelerated recently, rising more than 40% in the past week alone…the cryptocurrency rose 28.5% in 35 hours from the beginning of yesterday (universal time) through this morning…the rally has attracted new investors around the world as excitement mounts about the potential for digital currencies…bitcoin now has a market value of more than $256 billion, meaning it would rank among the 20 largest stocks in the S&P 500…

3. Canamex Gold (CSQ, TSX-V) reacted positively to news this morning that the company has executed terms of agreement with Harmonychain AS to consider the issues around an initial coin offering of asset-backed digital tokens based on the Ethereum blockchain technology and whether the company could utilize this new technology in future offerings.  “The new paradigm of secure digital currencies and tokens opens up a new opportunity for Canamex, as a potential alternative means of doing financings. We believe that this concept could be a first for the industry. One of the great benefits with raising capital via this concept is that there could be minimal dilution for the shareholders, in addition to the benefits of transparency, the potential asset backing of the tokens and it being attractive compared to traditional debt or equity financings,” said David Vincent, Canamex CEO…

4. The Dow has climbed 64 points in early trading…in Toronto, the TSX is up 95 points as of 7:00 am Pacific while the Venture has slid a further 3 points to 781 in typical early December softness…Cannabix Technologies (BLO, CSE) has closed its bought deal private placement of 4 million units at a price of $1.15 per unit for aggregate gross proceeds of $4.6 million (each unit includes a full 3-year warrant at $1.60)…in addition, the company has raised an additional $977,500 through closed a non-brokered private placement on substantially the same terms as the bought deal units…eCobalt Solutions (ECS, TSX) announced this morning that it has made significant progress on optimization of its Idaho Cobalt Project, resulting in a new direction to produce a clean (low arsenic content) Cobalt concentrate product, an upstream precursor material for battery cathode production…this product change and other project optimization efforts have the potential to result in a significant improvement in economics for the project, according to management, which adds that this new opportunity is being pursued in response to changes in battery supply chain dynamics and in-depth discussions with potential offtake partners…Jaxon Mining (JAX, TSX-V) has completed its fall/winter 2017 drilling program at its Hazelton Silver-Zinc Project north of Smithers…the company drilled a total of 2,281 m in 12 diamond drill holes…as of today, 1019 samples have been selected to be sent to a lab near Vancouver… 

5. Cobalt prices are likely to rise significantly over the next 2 years as the industry struggles to meet rising demand from batteries used in electric vehicles, according to BMO Capital Markets…it sees the annual average Cobalt price peaking at $40.50/lb in 2019, from current levels of about $30 a pound, but does not rule out the possibility of prices doubling from current levels during that time period…so far this year, 99.6% broken cathode Cobalt – the grade often used in chemicals and batteries – has averaged $25.58/lb, according to Platts assessments, having started the year at a midpoint of $14.75/lb…the investment bank put this year’s Cobalt rally down to continued growth in smartphone sales which it says will still be the main end use market for Cobalt…BMO estimates that global Cobalt mine supply is down 2.7% in 2017, with “weakness at Glencore operations (Katanga) and disputes at GTL’s Big Hill primary Cobalt tailings operations.”

6. Kinder Morgan Canada (KML, TSX) is selling $200 million in shares even as the company dials back spending and warns of additional delays to its Trans Mountain pipeline expansion…the unit of Houston-based Kinder Morgan Inc. said yesterday that it’s selling 8 million preferred units at $25 each in a bought deal to major banks, with proceeds earmarked to help finance the $7.4 billion pipeline expansion to Burnaby…the offering comes despite warnings the 590,000-barrel-a-day expansion project could see Oil shipments commence 9 months later than originally planned…this week, Kinder Morgan Canada said delays could extend beyond September 2020, further driving up costs… CEO Steve Kean reiterated yesterday that the company will not accelerate spending unless it gets clarity on permitting for the project…at full construction the company would spend up to $300 million a month, compared with around $30 million today…

7. Why would investors put their money into Alberta when President Trump has done the opposite of the Alberta government over the past 11 months with sweeping energy sector reforms that have slashed taxes and regulations, drawing fresh investment into the United States?…since 2015, the socialists in Alberta have increased corporate income taxes by 20%, implemented a carbon tax, and introduced a new slate of environmental regulations, including a cap on emissions from Oilsands production…yesterday, a leaked provincial government document emerged that ostensibly projected that it would cost Oil companies billions of dollars to comply with new emission rules, although the government says the document is outdated and inaccurate…Premier Notley’s “outreach” to environmentalists has been a complete disaster with the government unable to secure the “social license” it was searching for – even Notley’s NDP friends now running the B.C. government are vigorously opposing the Trans Mountain pipeline expansion…

The Template For The Next 10% Move In Garibaldi Resources

Thunder In The Corridor!

The Nickel Mountain Magma Highway

Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember

How To Bring A Junior Resource Market To Life!

The Dramatic New Chase For A Nickel-Copper-Rich Massive Sulphide Deposit In The Heart Of A Famous Gold Camp

Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began