BullMarketRun.com

1. Gold has traded between $1,198 and $1,204 so far today…as of 7:00 am Pacific, bullion is up $3 an ounce at $1,202…Gold’s lacklustre performance since the spring has prompted commodity analysts at RBC Capital Markets to downgrade their outlook over the next 15 months, though they still see prices averaging better than $1,300 in 2019…in an updated forecast, the bank now expects Gold prices to average the 4th quarter at $1,266 an ounce, down from its previous estimate of $1,281 an ounce…at the same time the analysts lowered their full-year average forecast to $1,279, and next year’s average to $1,338 an ounce, down from the previous estimate of $1,351…Silver has rallied 22 cents to $14.45…base metals are mostly flat with Copper at $2.83, Nickel at $5.84 and Zinc at $1.14…Crude Oil has shot up 36 cents a barrel to $72.44 while the U.S. Dollar Index is off one-fifth of a point at 94.06…Commerzbank on the Fed meeting that concludes tomorrow:  “What Fed Chair Powell says at the subsequent press conference will have far more of a bearing.  Some Fed representatives had raised the prospect in recent weeks of further rate hikes, which has been pressuring Gold.  If Powell now indicates a more gradual approach, on the other hand – the key rate is nearing what is viewed as a neutral level, after all – the Gold price is likely to rise”…

2. Crude Oil prices surged to a new 4-year high today, catapulted by imminent U.S. sanctions on Iranian Crude exports and the apparent reluctance of OPEC and Russia to raise output to offset the potential hit to global supply…the Oil price is on course for its 5th consecutive quarterly increase, the longest stretch of gains since early 2007, when a 6-quarter run led to a record high of $147.50 a barrel…the U.S. will target Iran’s Oil exports with sanctions from November 4, with Washington applying pressure on governments and companies around the world to fall into line and cut their purchases…at the same time, the International Energy Agency says the Oil market is tightening and forecasts strong Oil demand growth of 1.4 million barrels per day (bpd) this year and 1.5 million bpd in 2019…

3. Aurora Cannabis (ACB, TSX) capped a busy year by seeing its revenues more than triple to $19.1 million in the 4th quarter…the Edmonton-based company says revenues for the 3 months ended June 30 were up from $5.9 million a year earlier…the gross margin on medical cannabis was 74%, up from 58% in the 4th quarter of 2017…the increase was mainly due to higher average selling price per gram of dried cannabis and a higher proportion of cannabis Oil sales…CEO Terry Booth stated, “Aurora made substantial progress toward our strategic goal of becoming the global scale and margin leader in the cannabis industry, establishing a vertically integrated company with a broadly diversified product offering with a large global footprint.  “Our high-pace, consistent execution has enabled us to complete a number of transformative acquisitions, bringing together industry-leading companies in terms of scale, quality, efficiencies, plant and medical science, product development and innovation, brands, and international distribution…Booth added, “We anticipate accelerated revenue growth during fiscal 2019. We have invested heavily in our organizational capabilities, including sales, marketing, and corporate talent and capacity, to ensure we will continue to drive strong and sustainable long-term growth”…ACB is up 82 cents at $13.09 through the first 30 minutes of trading…

4. The Dow has added 28 points through the first 30 minutes of trading…gains in banks and yields come as the Fed begins its 2-day monetary policy meeting with analysts widely expecting the central bank to raise rates by a quarter point now and again in December…in Toronto, the TSX is 68 points higher…Barrick Gold (ABX, TSX, NYSE) is pushing to the upside in the wake of yesterday’s big announcement that it’s acquiring Randgold Resources (GOLD, NASDAQ) for $6 billion in an all-share transaction…Barrick shareholders would own two-thirds of the company while Randgold would control the rest, though Randgold CEO Mark Bristow would steer the ship as President and CEO (the market likes that) of the world’s largest Gold company…the deal is expected to close early next year…Royal Nickel (RNX, TSX) has pulled back this morning after surging to a new multi-year high of $1.05 yesterday when the company reported that its new exploration drive on the 14 level at its Beta Hunt mine has intercepted and recovered visible coarse Gold, providing further proof of concept that the structures containing the Father’s Day vein discovery extend 200 m (25 m up dip and 180 m along strike) above the Father’s Day vein discovery…technical teams at Beta Hunt are applying the model for these high-grade coarse Gold structures to historical drilling and mapping, and have identified a number of targets for follow-up with the potential to continue to extend this discovery…the Venture is off 2 points at 719 as of 7:00 am Pacific…Chemesis International (CSI, CSE) has just announced that it will be entering into the cannabis-infused beverages market (sports drinks, teas, sodas, coffees, shots, water, and other health and wellness beverages)…the company says it will leverage licences and assets it has recently acquired to build out production, storage and a transportation network for its cannabis-infused beverages…Chemesis will be using the recently acquired Desert Zen fulfilment facility for this expansion and anticipates products to be launched in the 1st quarter of 2019…CSI has jumped 14 cents to $1.67 as of 7:00 am Pacific…

5. Garibaldi Resources (GGI, TSX-V) has drilled into more exceptionally high-grade Nickel with assay results from the first 8 holes of this year’s program (EL-18–15 to EL-18–22) more than doubling the strike length of the Discovery zone (EL-18–36 is now in progress)…EL-18–16 cut 7.9% Ni and 3.9% Cu within a broader interval of 34.1 m @ 2.4% Ni and 1.5%, extending the EL-17–14 massive sulphide zone 50 m to the southeast…meanwhile, EL-18–22 cut 4 separate intervals within the top 150 m, including 12.5 m @ 4.2% Ni and 2.7% Cu, to extend the massive sulphide zone 42 m to the west-southwest…even more importantly, there is now powerful evidence based on newly-exposed surface mineralization that the deposit, like Seabridge Gold’s (SEA, TSX) world class Iron Cap Gold-Copper porphyry deposit to the southeast, extends beneath a large receding icefield that’s 1.6-km-long and up to 1 km wide…massive sulphide outcrops, a large massive sulphide boulder train, and taxitic gabbro (a key indicator) are forming a “ring” around the horseshoe-shaped Nickel Mountain icefield, suggesting that much of the Golden Triangle’s first magmatic Nickel-Copper-rich massive sulphide system has been well-hidden from explorers until now…traders’ “sell-on-news” mentality drove GGI lower yesterday and again this morning, though this also occurred after first assay results last year…

6. Crystal Lake Mining (CLM, TSX-V) has secured an impressive position in the Eskay Rift…the company has completed a deal with Romios Gold (RG, TSX-V) to acquire a 100% interest in the 436 sq. km Newmont Lake Property, immediately south of the Newmont–Teck Galore Creek JV, north of the Snip mine and northwest of other key projects in the broader Eskay Camp…significantly, the promising Burgundy Ridge target on the southern of the Newmont Lake package will be drilled for the first time in October…it features a rapidly receding icefield that has exposed extensive Copper-Gold-Silver-Zinc mineralization over hundreds of meters…meanwhile, the property also hosts a Gold deposit at Newmont Lake with historic intercepts featuring 55 g/t Au, 40 g/t Ag and 0.97% Cu over 11 m; 21 g/t Au and 1.4% Cu over 8.4 m; 26.4 g/t Au and 21.3 g/t Ag over 14 m; and 753 g/t Au and 462 g/t Ag over 0.44 m…most drilling was only completed to a depth of 100 m and only about 20% of the drill core from about 150 holes in the 1980’s was ever assayed…Newmont Lake has multi-commodity (including Nickel) potential with Dr. Peter Lightfoot, Crystal Lake’s technical adviser, adding: “The combination of mapping programs by the B.C. Geological Survey and operators going back to the 1980’s, coupled with new airborne electromagnetic methods, places the Newmont Lake Project in a whole new light.  It is strategically positioned to achieve a place in the world’s next great mining camp”…

7. Aben Resources (ABN, TSX-V) is under pressure in early trading after releasing fresh results from continuing drilling at its Boundary North Zone…FK18–12 returned 5.1 g/t Au over 12 m…FK18–13 cut 23.3 g/t Au over 2 m while FK18–17 intersected 10.6 g/t over 3 m…to date, final analytical results have been received for 3,000 m of a total projected 10,000 m…step-out drilling has successfully expanded the North Boundary Zone along an interpreted NE-SW trend, from the high-grade Gold mineralization reported in earlier holes…grades and widths surely need to improve but it’s still early in the game…North Boundary remains open in all directions with 36 drill holes completed to date…assays are pending for 27 of these holes…meanwhile, a new airborne geophysical survey reveals numbers untested target areas…ABN has strong technical support around 20 cents…

Most Popular Recent BMR Posts

Video: How This Innovative Junior Is Winning The “Battery Arms Race” In Northern Ontario

“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

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