BullMarketRun.com

1. Gold dipped this morning to its lowest level since late December on some limited follow-through selling after its biggest single-day drop since 2016 yesterday…as of 7:00 am Pacific, the yellow metal has bounced off its morning low of $1,285 and is now unchanged for the day at $1,290…Silver has added 4 cents to $16.27…Copper is flat at $3.07…Nickel is up 2 pennies at $6.54, Zinc is unchanged at $1.38 while Cobalt is steady at $41.28…Crude Oil has slipped 41 cents to $70.90…government data just released showed a drop in U.S. Crude stockpiles as refineries hiked output, contradicting an earlier industry report that showed a rise in inventories…the U.S. Dollar Index is up slightly at 93.40 as it remains within a strong resistance band between 93 and 94…

2. Commerzbank says it only sees “limited additional downside potential for Gold” with “the low price level stimulating physical buying interest…geopolitical tensions in the Middle East (violent protests in Gaza, uncertainty over the Iranian nuclear agreement) point to solid demand for Gold as a safe haven, as does the Korea conflict that is flaring up again”…in Canadian dollar terms, Gold has landed at Fib. support in the mid-$1,650’s which coincides with a still-rising 200-day moving average (SMA)…Gold’s uptrend line in Canadian dollars has held for several years and currently intersects through about $1,625, meaning further potential downside is indeed very limited…well-known hedge fund managers John Paulson and Ray Dalio essentially maintained their holdings in Gold ETF’s during the 1st quarter, according to latest filings…meanwhile, Soros Fund Management LLC has remained out of Gold since exiting from its shares of Barrick Gold (ABX, TSX) in the 4th quarter of 2016…

3. “A rising Oil price brings upside price risk to all commodities,” Morgan Stanley said in a note to clients this week…the CRB Index is trading at levels not seen in more than 2-and-a-half years and is likely to accelerate quickly once it successfully punches through stubborn resistance slightly above 200…the CRB has been flirting with that resistance since early April and is off a fraction at the moment at 203…

4. Canada’s federal government demonstrated this morning just how badly it has botched the pipeline issue when Finance Minister Bill Morneau declared that the Feds are willing and prepared to financially back the Trans Mountain Project, whether or not Kinder Morgan is the company that ends up building it…Morenau said the Liberals’ 3 guiding principles are to 1) indemnify the project from any financial loss; 2) offer this financial security to any company that wants to build the pipeline, should Kinder Morgan back out; 3) ensure that the financial backing is fair and beneficial to Canadians…what a tangled web Canadian governments (federal and provincial) have weaved when it comes to the Oil and gas sector just recently and over the last few years…Canadians should be outraged by this stunning lack of competence while Americans grab market share from their climate change obsessed northern neighbor…Morneau of course accepted no responsibility for his own government’s blunders but took aim at B.C. NDP Premier John Horgan during his remarks to media, placing the blame for the current situation on his shoulders, and calling the delay “politically motivated”…

5. The Dow is up 39 points through the first 30 minutes of trading…in Toronto, the TSX is 12 points higher while the Venture is off 1 point at 780…the Index has closed above that level at the end of each month since October…theScore (SCR, TSX-V), up more than 150% this week, touched resistance in the mid-40’s in early trading and has pulled back slightly…the stock broke above a long-term downtrend line Monday after the U.S. Supreme Court decision to allow states to legalize sports betting…Skeena Resources (SKE, TSX-V) has completed 28 drill holes in Phase 2 infill and exploratory underground drilling at the Snip mine in the Eskay Camp, with more high-grade results reported…drilling has just started at the promising 200 Footwall Zone and a large portion of the balance of Phase 2 will be directed toward this newly modeled and largely untested area…Dolly Varden (DV, TSX-V) announced this morning that a 25,000-m diamond drilling program consisting of 60 to 75 holes is set to begin during the first week of June at its Dolly Varden Silver Property near Stewart…the program is designed to focus on resource delineation and verification, particularly in the areas of new discoveries from the 2017 season…Constantine Metal Resources (CEM, TSX-V) has received regulatory approval for a 1-for-4 share consolidation that becomes effective on Friday…the company also says its $10 million non-brokered private placement announced May 1 is fully subscribed with the first tranche closing next week…post-financing and consolidation, total outstanding shares are projected to be 44 million…the company’s flagship asset is the high-grade Copper-Zinc-Silver-Gold Palmer Project in Alaska that is being advanced as a JV between Constantine (51%) and Dowa Metals & Mining (49%), with Constantine as operator…

6. The big mover on the Venture in early trading is Ventripoint Diagnostics (VPT, TSX-V) which gapped up at the open on high volume after announcing that it has received market clearance from the U.S. Food and Drug Administration to sell its VMSplus machine with the 4-chamber heart-analysis system in the United States…the intended use is for the analysis of ejection fraction (function) and volumes of any chamber of the heart, where they are warranted or desired.  “The VMSplus is the first simple echocardiography system to be approved by the FDA for the 3-D volumetric analysis of all 4 chambers of the heart using 2-D ultrasound,” stated Dr. George Adams, Ventripoint CEO.   “Now we can offer the VMSplus to American physicians so they can accurately and easily evaluate and monitor hearts in children and adults during a routine cardiology appointment.”  The U.S. is the largest medical-device market in the world with more than 40 million cardiac ultrasound exams per year…2-D ultrasound is the modern stethoscope and is employed worldwide as the first step in evaluating heart disease…VPT opened at 40 cents and is up 17 cents at 47 cents through the first 30 minutes of trading…

7. Colombia is the new frontier for the marijuana sector – Aphria (APH, TSX) announced this morning that it has signed an exclusive supply agreement with Colcanna SAS, a Colombia-based pharmaceutical import and distribution company, which is licensed to import, sell and distribute medical cannabis, medical products and derivatives in Colombia.  Vic Neufeld, Aphria CEO, stated, “We see tremendous potential for medical cannabis in several emerging markets, including Colombia.   We are thrilled to enter the Colombian market through this exclusive agreement with Colcanna.  Aphria will continue to expand its global leadership through strategic investments, partnerships and agreements such as this one.”  Under the terms of the agreement, Aphria will be the exclusive supplier of cannabis products to Colcanna for the Colombian market and Colcanna will purchase medical cannabis products from Aphria exclusively…at the importer’s request, financial terms of the agreement are not being released…

Most Popular Recent BMR Posts

“The Enemies Of Progress, The Radical Environmentalists, Are Ramping Up For A War In The Woods”

Why Are These People Smiling? – Their Stock Has Tanked 80%!

Turbocharged Nickel

BMR Morning Alert! – Venture Slips On An Oil Slick, And Updates On 5 Special Situations

Commodity Check!

The Template For The Next 10% Stake 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