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

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Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began

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January 3, 2020

7 @ 7:00

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1. Gold got a fresh lift overnight on a sudden flare-up in Middle East tensions as Iranian terrorist Qassem Soleimani, commander of Iran’s elite Quds Force and architect of its growing military influence in the Middle East, was killed in a drone strike by U.S. forces authorized by President Trump following the attack earlier this week on the U.S. embassy in Iraq…the yellow metal has traded between $1,538 and $1,552 so far today…as of 7:00 am Pacific it’s up $19 an ounce at $1,548…Gold has already broken out above a bull flag formation on its long-term weekly chart, and a move through resistance in the $1,520’s is also significant…$1,675 is our target for the 1st half of 2020, certainly achievable during Q1…over 100,000 ounces were added to exchange-traded-fund holdings yesterday…demand for Gold in China should start to pick up in advance of the Chinese New Year period starting January 25, a key Gold buying occasion in the region…Silver is up modestly at $18.08…Copper is steady at $2.78…Nickel has slipped 17 cents to $6.26 while Zinc is off slightly at $1.04…Crude Oil has firmed up on developments in the Middle East, adding $2.24 a barrel to $63.42, while the U.S. Dollar Index has rebounded one-tenth of a point to 96.95…U.S. military action against Iran overshadows a very busy day for U.S. economic data, including the afternoon release of the FOMC minutes from the last meeting…traders and investors will glean the FOMC minutes for clues on the future direction and timing of Federal Reserve monetary policy…meanwhile, in some economic news just out, which has helped to give Gold another boost, the latest ISM Manufacturing Index reading came in below expectations..

2. Qasem Soleimani was arguably the world’s #1 bad guy and should have been taken out years ago…he was in control of Iran’s Quds Force for more than 20 years…he helped Bashar al Assad slaughter hundreds of thousands of his own people in the Syrian civil war, stoking the Houthis in Yemen’s civil war, and oversaw the killing of hundreds of Iraqi protestors recently demonstrating against Iranian influence in their country…but most importantly for Americans, Soleimani was behind the deaths of hundreds of American soldiers during the Iraq War…Iran of course has threatened to retaliate against the United States…the 62 year-old Soleimani was regarded as the 2nd most powerful figure in Iran after Supreme Leader Ayatollah Ali Khamenei…top Iraqi militia commander Abu Mahdi al-Muhandis, an adviser to Soleimani, was also killed in the attack…Iraq’s Prime Minister said Washington had violated a deal for keeping U.S. troops in his country…Israel has put its army on high alert and U.S. allies in Europe including Britain, France and Germany voiced concerns about an escalation in tensions…meanwhile, President Trump this morning tweeted his first statement on the attack…“Iran never won a war, but never lost a negotiation!”, an apparent reference to Obama’s flawed nuclear deal with the rogue nation…

3. Canada Cobalt (CCW, TSX-V), in the midst of the significant grassroots high-grade Silver discovery in 40 years in the Northern Ontario Silver-Cobalt District, delivered a high-grade Gold surprise this morning from underground drilling on the first level of the Castle mine…all of this comes as newcomer Matt Halliday (VP-Exploration) shapes a dynamic new course for CCW, coming over from Kirkland Lake Gold (KL, TSX, NYSE) where he was resource geologist…“The presence of Gold in gabbro (diabase) vein structures, open toward the surface and at depth, is extremely intriguing,” Halliday commented…“Through some immediate lab work we will better understand what this Gold is associated with in preparation for aggressive follow-up. Gold content bodes very well for our underground model. Also, this gives fresh impetus to our drive to find a high-grade Gold system in the heavily under-explored Archean rocks, a very favorable host for Gold, adjacent to our new high-grade Silver discovery at Castle East 1.9 km from Shaft #3. These are exciting times for our geological team. We eagerly anticipate updating shareholders with respect to the Castle East discovery where drilling is scheduled to resume Monday, January 6, with a second and larger batch of assays expected from the lab during this first half of the month”…CCW this morning reported high-grade intercepts up to 22.7 g/t Au, 4% Cobalt, 4,970 g/t Ag (145 oz/ton) and 5.4% Nickel in short multi-directional drill holes (upward toward the surface and down into the floor of the first level) into a main vein structure (with associated parallel veins) extending for at least 80 m and open in all directions including to depth…nearly half of the 16 holes reported this morning (assays pending for 31 more) returned intervals >1% Cobalt (Cobalt grades from the first level of the Castle mine, previously only exploited for its high-grade native Silver, are considered very high in a global context)…meanwhile, drilling at the Castle East high-grade Silver discovery resumes Monday…more assays of recent native Silver hits are expected during this first half of January…CCW has broken out to a new 52-week high of 69 cents on strong volume, pushing through resistance in the mid-60’s…next measured Fib. resistance on the key chart we follow is $1.04…

4. Tesla (TSLA, NASDAQ) has delivered a record 112,000 vehicles globally during the 4th quarter, significantly topping Wall Street estimates and achieving an ambitious year-end sales goal of CEO Elon Musk…Wall Street expected Tesla to deliver 106,000 vehicles to customers during Q4, which would have just met the company’s annual delivery goal of between 360,000 and 400,000 vehicles, a 45% to 65% increase from 2018…Tesla said it delivered approximately 367,500 vehicles last year, an impressive 50% increase from 2018…Tesla is up sharply to a new all-time high in early trading…

5. The Dow has fallen 191 points through the first 30 minutes of trading as nervousness builds around the situation in the Middle East…Wall Street enjoyed a strong start to the new year and decade yesterday after booking a powerful 2019 performance on Tuesday with the S&P 500 rising 28.9% for 2019…that was the broad index’s biggest annual gain since 2013 when it surged 29.6%…the Dow, meanwhile, climbed 22.3% while the NASDAQ surged more than 35%…gains were much more modest in Canada for 2019 as the TSX climbed 19.1% while the Venture eked out a 3.6% gain…the TSX, helped by rising Gold and Oil prices, is off only 31 points in early trading this morning while the Venture, on an 8-session winning streak, has added another 3 points to 591 as of 7:00 am Pacific…Palladium One (PDM, TSX-V), on a robust run, has eased off slightly to 19 cents but should be accumulated on any weakness based on bullish chart patterns…QMX Gold (QMX, TSX-V), a Quebec high-grade Gold play with fresh momentum after an investment by Eldorado Gold (ELD, TSX; EGO, NYSE), is looking strong at 9.5 cents…Score Media & Gaming (SCR, TSX-V) is threatening to break out to a new high, up 2 cents at 82 cents…

6. Despite Gold’s best year in nearly a decade, U.S. Gold coin sales struggled as the U.S. Mint reported the worst year on record in terms of American Eagle Gold coins sales…the Gold coin demand was extremely weak as traders opted for ETFs, futures, and record-high equity markets, according to analysts…a total of 152,000 ounces of the Gold American Eagle coins were sold in 2019, 38% less than in 2018 according to the latest U.S. Mint data…this marked the lowest sales on record since the U.S. Mint began recording the figures in 1986…sales of Silver American Eagle coins were the worst since 2007 with only 14.9 million ounces sold, down from the already weak figure of 15.7 million reported in 2018…in 2007, sales were only at 9.9 million ounces…one of the reasons behind a strong Gold price and weak demand for Gold coins is investors choosing to hold Gold in other forms, such as Gold-backed ETFs and futures…“It was mainly professionals, hedgers and you had a lot of buying from South America,” RBC Wealth Management managing director George Gero told Kitco News “Money that normally could have gone into Gold coins ended up going into Gold ETFs or Gold futures”…

7. Cannabis industry insiders are bracing for a slew of bankruptcies in the coming year as small and medium-sized companies low on cash struggle to raise funds in the downtrodden sector…“We have had a busy few years, but we’re going to be busy in 2020 for a different reason – we expect a few million dollars in legal fees from insolvencies and consolidation,” stated Ranjeev Dhillon, a partner at McCarthy Tetrault LLP and the firm’s cannabis group lead, in a Financial Post report…Dhillon says that his team is already seeing companies that are heading down that path…“Companies that cannot distinguish their brands and don’t have the money to keep up operations on existing facilities will not be able to carry forward,” he told the Financial Post in an interview…“The only kind of money you can raise right now, if at all, is debt”…there are currently more than 200 cannabis companies either in the cultivation, processing or extraction businesses, primarily supplying a domestic market that has yet to cross the $1 billion mark in annual sales…although cannabis sales have been increasing on a monthly basis since legalization in October 2018, inventory has been growing much more quickly, resulting in oversupply and declining prices… “We are definitely going to see some companies struggle,” said Greg Engel, CEO of Organigram Holdings (OGI, TSX, NASDAQ) which has also been hit by slumping sales…“We’ve already seen two companies file for bankruptcy protection, and they certainly won’t be the last”…in December, Wayland Group, one of the first pot companies to obtain a cultivation licence, filed for creditor protection…2 months earlier, DionyMed Brands had entered into receivership after failing to repay debt…“Companies that don’t have a good cost structure will be in a really difficult position. It’s not about growing cannabis anymore, it’s about how efficient you are as a consumer packaged goods producer,” Engel added…

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January 2, 2020

7 @ 7:00

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1. Coming off its best year since 2010, Gold is off to a strong start to begin 2020 and a new decade…the yellow metal has traded between $1,518 and $1,531 so far today…as of 7:00 am Pacific it’s up $9 an ounce at $1,526…Gold has already broken out above a bull flag formation on its long-term weekly chart, and a move through resistance in the $1,520’s would be another sign of increasing momentum…$1,675 is our target for the 1st half of 2020…demand for Gold in China should start to pick up in advance of the Chinese New Year period starting January 25, a key Gold buying occasion in the region…Silver has added 12 cents to $17.94 after briefly topping $18…Copper is off slightly at $2.79…Nickel has gained 8 cents to $6.40 while Zinc is up a penny at $1.04…Crude Oil is steady at $61.08 while the U.S. Dollar Index has fallen nearly half a point to 96.81, giving commodities support…a private survey released today showed China’s manufacturing activity expanded in the month of December, but slightly below analysts’ expectations…the Markit/Caixin Purchasing Managers’ Index (PMI) for manufacturing came in at 51.5 last month after a reading of 51.8 in November…on Tuesday, China’s statistics bureau released official manufacturing PMI for December that was slightly above expectations at 50.2…President Trump confirmed on New Year’s Eve that the U.S.-China Phase 1 trade deal would be signed on January 15 at the White House…the President’s campaign announced this morning that it raised an impressive $46 million in the final quarter of 2019 as the Republican cashed in while he was being impeached by the Democratic-led House of Representatives…Trump’s total in the final 3 months of 2019 is far bigger than any quarterly total announced so far by any Democratic candidate…it also marks the best fundraising quarter for Trump’s reelection bid…the campaign also said it had $102.7 million in cash on hand heading into 2020…meanwhile, socialist Bernie Sanders amassed $34.5 million in the final 3 months of 2019, his campaign said, the most that any of the 2020 Democratic presidential candidates has raised in a single quarter…

2. Global stock markets got off to a solid start on the first trading day of the year after China’s central bank announced a fresh dose of monetary policy easing….markets in Asia and Europe were broadly up while New York and Toronto are also pushing higher in early trading today…yesterday the People’s Bank of China lowered the amount of reserves banks need to keep on hold at the central bank, essentially freeing up cash for lending into the world’s 2nd-largest economy…the PBOC announcement reinforces expectations that Beijing will follow through on promises to boost its economic growth in 2020…

3. The city of Ganzhou in China’s southeastern province of Jiangxi has launched an exchange for spot transactions in rare earths and minor metals, according to a report posted by the Association of China Rare Earth Industry today…the Ganzhou Rare Metal Exchange, which was launched on December 31, will help boost the city’s global influence and pricing power for the traded products, the report by the provincial government-run Jiangxi Daily cited Ganzhou mayor Zeng Wenming as saying…the bourse is the 2nd rare earth exchange to open in China, the world’s dominant producer of the group of minerals after the launch of the Baotou Rare Earth Products Exchange in Inner Mongolia in 2014…the Shanghai Futures Exchange is also working to introduce rare earth futures…Baotou and Ganzhou are China’s 2 hubs for rare earths, which are prized for their use in consumer electronics and military equipment…

4. The Supreme Court of British Columbia has ruled that Indigenous law is not necessarily Canadian law in a decision that will enable more construction work on the $6.6-billion Coastal GasLink pipeline despite some First Nations opposition…B.C. Supreme Court Justice Marguerite Church ruled New Year’s Eve that Coastal GasLink has suffered irreparable harm after protestors built blockades and camps to stop work crews from accessing parts of the natural gas pipeline route between Dawson Creek and Kitimat, B.C., where a massive LNG export terminal is under construction…Church granted both an interlocutory injunction and an enforcement order, which will “provide a mandate to the RCMP to enforce the terms of the order”...she also noted that Indigenous laws do not become part of Canadian common or domestic law until they are enshrined through treaties, court declarations, statutory provisions or other means….“There has been no process by which Wet’suwet’en customary laws have been recognized in this manner,” the judge wrote…“While Wet’suwet’en customary laws clearly exist on their own independent footing, they are not recognized as being an effectual part of Canadian law”…

5. The Dow is up 192 points through the first 30 minutes of trading to kick off 2020…Wall Street booked a strong 2019 performance on Tuesday with the S&P 500 rising 28.9% for the year…that was the broad index’s biggest annual gain since 2013 when it surged 29.6%…the Dow, meanwhile, climbed 22.3% while the NASDAQ surged more than 35%…gains were much more modest in Canada where the pursuit of economic growth under “progressive” policies seems secondary to “saving the planet”…the TSX climbed 19.1% while the Venture eked out a 3.6% gain…DynaCERT (DYA, TSX-V) has hit a new 2+ year high of 81 cents in early trading…Palladium One (PDM, TSX-V) continues to strengthen, up another half a penny to 19 cents and a fresh 52-week high…Skeena Resources (SKE, TSX-V), overcoming resistance in the mid-60’s, is closing in on a new 2-year high, up 4 pennies at 72 cents…another Eskay Camp play, Crystal Lake Mining (CLM, TSX-V), is beginning to rebound after falling into deeply oversold conditions in Q4…CLM is up 2.5 cents at 14.5 cents…Lasalle Exploration (LSX, TSX-V) began trading on the Venture this morning following the successful closing of its oversubscribed $2 million IPO…the company’s primary assets include the Radisson Property in the Eeyeou Itschee-James Bay region of Quebec and the Blakelock Property in northeast Ontario along trend from the high-grade Case Berardi Gold mine operated by Hecla…the Board includes Dan Innes, Founder and past Chairman and CEO of Lake Shore Gold, and Ian Campbell, past President and CEO of Temex Resources up until its acquisition by Lake Shore in 2015…

6. Most of the major licensed cannabis producers – Canopy Growth (WEED, TSX; CGC, NYSE), Hexo (HEXO, TSX, NYSE) and Tilray (TLRY, NASDAQ), notably – have invested heavily in cannabis-infused drinks that will hit the market during this 1st quarter of 2020, but some industry observers are predicting that beverages might be a failed venture altogether…“When you look at the established markets in the U.S. – California, Oregon and Colorado – beverages are just 2% of those markets. They never really took off,” said Jerome Hass of Lightwater Partners…he believes that some licensed producers are vastly overstating the impact beverages will have on overall sales…his company invested in a small brewery in Waterloo, Ontario, that he once thought would be a “perfect play” for cannabis-infused drinks…“They had a canning facility and excess capacity so we thought these guys would be a prime beneficiary of cannabis 2.0“…in the end, the brewery lost interest in the venture…

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December 30, 2019

7 @ 7:00

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

1. Gold has traded between $1,510 and $1,516 so far today, hitting a fresh 2-month high…as of 7:00 am Pacific the yellow metal is up $3 an ounce at $1,514…Gold prices have climbed about 18% this year with the metal set to post its best annual gain since 2010…Silver is 10 cents higher at $17.88…it’s a bullish omen for 2020 that the Silver juniors are leading the miners and the miners continue to lead the metals…Copper is flat at $2.81…however, the metal widely used in power and construction is near its best levels since May and is headed for its biggest monthly rise in 2 years…Nickel is up 5 cents at $6.47 while Zinc and Cobalt are both steady at $1.05 and $14.74, respectively…Crude Oil is at a 3-month high on upbeat data and fresh Middle East tensions…WTI has added 24 cents to $61.96…the Thomson Reuters CRB Index, a measure of commodity prices, is now at its highest level since April at 187…that’s a 10% gain for the year…key resistance is around 200…this week will see critical data that may or may not confirm the “global bottoming” theory: China PMI and non-PMI tomorrow, eurozone PMI on Thursday and U.S. ISM Manufacturing on Friday…a Reuters poll shows that China’s factory activity likely expanded again in December on stronger external demand and an infrastructure push at home…

2. Chinese Vice Premier Liu He will visit Washington this week to sign a Phase 1 trade deal with the United States, the South China Morning Post reported this morning…“Washington has sent an invitation and Beijing has accepted it,” the SCMP quoted a source as saying…it said the delegation was likely to stay in the United States for a few days, until the middle of next week…

3. Demand for Gold in China should start to pick up in advance of the Chinese New Year period starting January 25, a key Gold buying occasion in the region…data released today showed that China’s net Gold imports via Hong Kong in November plunged 72% from the previous month to their lowest in nearly 9 years, according to the Hong Kong Census and Statistics Department, mainly due to subdued demand…however, China’s imports via Hong Kong have steadily decreased this year in the wake of anti-government protests in the former British colony, and China has boosted Gold imports from Shanghai instead…however, recent flows across the board are still down but that hasn’t stopped Gold from pushing through the key $1,500 level…

4. As stocks close out 2019, Wall Street’s bull market is expected to continue through 2020 (albeit not without 1 or more significant corrections) as long as it appears President Trump will be re-elected…the S&P 500 is up a whopping 29.25% entering the final 2 trading days of 2019…since World War II, the average gain in the 4th year of a Presidential term is 6.3%, and it’s up 78% of the time…the S&P 500 has returned more than 50% since Trump was elected, more than double the 23% average market return of Presidents 3 years into their term going back to 1928, according to Bespoke Investment Group…on a short-term basis, the S&P 500 is due for a pullback as the RSI(14) entered this morning at 78, the highest level since January 2018…

5. Tesla (TSLA, NASDAQ) has delivered the first Model 3 electric cars built at its Shanghai factory at an event today in China…the Shanghai plant, up and running in just 357 days, is part of Tesla’s plans to bolster its presence in the world’s biggest auto market and to minimize the impact of the U.S.-China trade battle…Tesla surged to a new all-time high Friday of $435.31 but the stock is off $16 a share in early trading today…shorts got some temporary help from a negative analyst report…

6. The Dow has dipped 93 points as of 7:00 am Pacific…entering the final 2 trading days the year and the decade, the S&P 500 is just half a percentage point away from its best annual gain since 1997…the NASDAQ broke an 11-session winning streak Friday, with modest losses after Thursday’s first-ever close over 9,000…year-to-date through Friday, the NASDAQ, S&P 500 and the Dow are up 35.74%, 29.25% and 22.8%, respectively…in Toronto, the TSX is 53 points lower but the Gold Index has jumped 3 points to 262…Yamana Gold (YRI, TSX), notably, has cracked the $5 barrier for the first time since 2016…it’s up another 8 cents to $5.13…not only is YRI showing technical strength, but historically its 4th quarter is its best from an operational standpoint…many of the top-performing stocks on the S&P/TSX Composite Index this past year were miners: Alacer Gold (up more than 160%), Eldorado Gold (up more than 140%), Wesdome Mining (up more than 125%) and Detour Gold (up more than 110%) were just a few…the Venture, riding a 6-week winning streak, is up another 6 points at 570 as it continues to push toward the key 580 area…DynaCERT (DYA, TSX-V) is up a nickel at 75 cents, a fresh 2-year high…Canada Cobalt (CCW, TSX-V) is up a penny at 64 cents after a 1 million share cross…CCW has drilled into spectacular native Silver at Castle East, within 2 km of 3 robust past producers…more assays are pending and drilling resumes during the first week of January…another favorite Silver play is Mexico-focused Discovery Metals (DSV, TSX-V) which has jumped 8 cents to 67 cents in early trading…

7. Nevada Copper (NCU, TSX), which earlier this month opened the first new Copper mine in the United States in over a decade, announced this morning that it has identified multiple new targets at its Pumpkin Hollow Project and has intersected shallow Copper mineralization of grades up to 0.90% in structural reconnaissance drill results, including indicators of of a potential porphyry-style target and grab samples as high as 6.2% Copper at surface…the company has added more than 5,700 hectares to its land package, a 30% increase…the porphyry system signatures are important as the existing underground and open-pit deposits are skarn/IOCG-style deposits, the source of which is expected to be an undiscovered porphyry system…CEO Matt Gili stated, “Having transitioned to producer status our primary focus in the first half of 2020 will be ramping up to full commercial production, however, we will also continue advancing our regional growth strategy. Exploration results to-date have been extremely encouraging, with multiple new targets identified across our large property, and we have increased our land position significantly”…NCU is up half a penny at 37 cents as of 7:00 am Pacific…its fresh uptrend should accelerate once resistance in the mid-to-upper-30’s is conquered…

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December 19, 2019

7 @ 7:00

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

1. Gold has traded between $1,473 and $1,478 so far today…as of 7:00 am Pacific the yellow metal is up $1 an ounce at $1,476…Silver is steady at $16.97…base metals continue to perform well…Nickel has jumped 15 cents to $6.43 while Copper and Zinc have each added a penny to $2.79 and $1.06, respectively…Crude Oil (WTI) is 8 cents higher at $61.01 while the U.S. Dollar Index is flat at 97.38… Chicago Federal Reserve Bank President Charles Evans says the U.S. economy is doing “remarkably well” with a vibrant labor market and a strong consumer, but he’s “personally worried” that inflation continues to run below the Fed’s 2% target…the Fed should allow it to rise above that level so it can average 2% over time, a position shared by Fed chief Jerome Powell…Evans voted for all 3 Fed rate cuts this year, and also supported the decision earlier this month to leave interest rates where they are in a target range between 1.5% and 1.75%…Sweden’s central bank (Riksbank) raised its key interest rate to zero percent overnight…this has some market watchers thinking other major central banks around the world which have negative interest rates are also on a path to slowly raise them – assuming, of course, global growth picks up…China has unveiled a new list of import tariff exemptions for 6 chemical and Oil products from the United States, days after the world’s 2 largest economies announced a Phase 1 trade deal…the exemptions will be for 1 year from December 26, the Finance Ministry said…

2. The far left Democrats in the U.S. House of Representatives started to think about impeaching Donald Trump as soon as he upset Hillary Clinton in the November 2016 election, before he even walked into the Oval Office…they finally realized their dream last night when Trump became just the 4th President in American history to be impeached by the House…of course this impeachment is dead on arrival in the Senate, but what the Do Nothing Democrats should really be concerned about is the nightmare to follow for them – the reaction of everyday Americans when they go to the polls again next November…Trump, focused like a laser beam on the economy which is what Americans really care about, is now is an ideal position to win a landslide in 2020 – the White House, the House of Representatives (retaking it from the Democrats) and the Senate…through the entire impeachment process, Wall Street has been hitting new record highs and one poll after another has shown a deterioration of support for impeachment while Trump’s approval numbers have been going up…the President was with the people last night, holding a massive rally in the key state of Michigan, while the Trump campaign raked in another $5 million in donations – Republican fundraising numbers are going through the roof…Democrats, who unlike Trump have no concept of branding or marketing, are doomed despite the support of their friends in the mainstream media – Wall Street knows it and loves it…the S&P 500 is up nearly 7% since House Speaker Nancy Pelosi launched a formal impeachment inquiry in September…during Clinton’s impeachment process, which ultimately didn’t work out well for Republicans, the broad index surged more than 26%…

3. Good grief – does this come as any surprise from the anti-resource globalists and climate change alarmists in Ottawa who presided over an economy that lost over 70,000 jobs last month including 6,500 in the resource sector?…federal Environment Minister Jonathan Wilkinson says he is “wrestling” with the approval of Teck Resources‘ (TECK.B, TSX) proposed Oil sands mine, saying it’s not clear the project would fit into the Liberals’ environmental goals…“That is something that we will have to be discussing and wrestling with as we make a decision one way or the other,” Wilkinson told reporters in Calgary yesterday…the Frontier Project north of Fort McMurray would mark the most significant new investment in the Alberta Oil patch in years – and Team Trudeau is “wrestling” with that concept…the Frontier Project is expected to generate 7,000 construction jobs and 2,500 permanent jobs…Wilkinson yesterday signalled that the “2050 target” could weigh heavily on his decision to either approve or reject it…

4. Wallbridge Mining (WM, TSX) has raised another $7.9 million, some of it from Eric Sprott as he adds to his position in the company…a total of 5.4 million flow-through shares were issued at 95 cents per share while 5.4 million super flow-through shares were issued at $1.05 each…Sprott purchased nearly 3 million of the 95-cent shares to boost his holdings to 124,354,063 shares representing approximately 21.2% of the outstanding shares on a non-diluted basis…“The completion of this financing gives us additional financial flexibility to achieve our goals of advancing Fenelon and pursing additional advanced-stage projects which would add to the Company’s near-term project pipeline,” stated Marz Kord, Wallbridge President & CEO…“We are also pleased that Eric Sprott has chosen to participate in this private placement”…WM has hit a new high of 90 cents in early trading…it’s up 3 pennies at 87 cents as of 7:00 am Pacific…

5. Newly-listed HighGold Mining (HIGH, TSX-V) has drilled 29 g/t Au and 33.2 g/t AuEq over 20 m, within a broader interval of 75.1 m (253.9 to 329 m) grading 10 g/t Au and 17.8 g/t AuEq (ETW 40 m), in a hole (JT19–090) designed to better define the lower portion of the Johnson Tract deposit in Alaska…this intersection expands the zone of thickest and highest-grade mineralization 20 m to the northeast…it’s open on strike to further expansion…meanwhile, another hole has produced a new Footwall Zone Discovery – a new Silver-Copper-Zinc-rich vein system discovered at depth in the footwall to the main JT deposit (20.7 m at 32 g/t Ag, 2.4% Cu and 4.9% Zn in JT19–089) including 7 m @ 66 g/t Ag, 4.7% Cu and 9.7% Zn (true width unknown)…“The discovery of new, significant and distinctive mineralization in the footwall to the JT deposit is a strong indication of the high exploration potential at Johnson,” commented HighGold President & CEO Darwin Green…“What makes it all the more encouraging is that the discovery was made during a first-pass drill program focused on deposit confirmation and expansion. Equally important, this step-out drilling has expanded the thickest and highest-grade portion of the JT deposit, which remains open along strike and at depth”…HIGH is up 14 cents at $1.40…

6. The Dow has climbed another 53 points as of 7:00 am Pacific…in Toronto, the TSX is up just 7 points while the Venture has pushed 3 points higher to 542…based on the latest charts, the Index is expected to break out vigorously past 540 toward its 200-day SMA and Fib. resistance in the 580’s…from there, perhaps after a brief pause to catch its breath, the Index should once again get above the 600 level…the metals space should help lead the way…Balmoral Resources (BAR, TSX) hit a new high of 44 cents before backing off…Canada Cobalt (CCW, TSX-V) is briefly consolidating around the 50-cent level in a very bullish technical pattern supported by multiple factors on the ground including what’s shaping up to be the best grassroots discovery in the Northern Ontario Silver-Cobalt district in 40 years…follow the money – Eldorado Gold (ELD, TSX) is taking a 19.99% interest in QMX Gold (QMX, TSX-V) through a private placement at 6 cents per share (68.1 million shares)…this transaction significantly strengthens QMX’s balance sheet as the company works to expand its Bonnefond deposit and broadens its exploration programs to include other highly prospective targets across its nearly 200 sq. km property…QMX, focused on the Val d’Or mining camp, is up a penny at 6.5 cents as of 7:00 am Pacific…Palladium One (PDM, TSX-V) hit a new multi-month high of 12.5 cents yesterday following news that the company’s Palladium dominant LK PGE-Nickel-Copper Project in central Finland has had 7 of 8 exploration permit renewal applications approved by the Finnish mining authority, while the 8th remains under consideration…PDM is up half a penny at 11.5 cents…

7. A supply crunch is coming and this will cause commodities to skyrocket in 2020, according to Frank Holmes, CEO of U.S. Global Investors…“This theme of ESG, environmental, social governance, is driving everything and it’s going to harm exploration. We’re going to see a supply-side restriction but people are going to have babies and the world is going to chug along and grow, but the commodities aren’t going to be there,” Holmes said, adding that a huge price rally would follow…on equities, Holmes says U.S. markets may still be the best option for stocks…“I don’t think (stock markets) are frothy and I don’t think there are many other places to go, and I think that what you have to recognize is that some of these other central banks like Switzerland are printing money out of the thin air,” he said…Holmes noted that today’s macroeconomic environment requires investors to continue to hold Gold…“You have to have Gold because there are going to be imbalances with currencies back and forth and China and India, 30 years ago, were 10% of the global consumption of Gold, but today they are 50% of the consumption of Gold and that’s correlated to rising GDP per capita”…

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December 18, 2019

7 @ 7:00

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

1. Gold has traded between $1,470 and $1,480 so far today…as of 7:00 am Pacific the yellow metal is off $2 an ounce at $1,474…Gold is on track for its biggest annual gain since 2010, bolstered by multiple factors including interest rates cuts by major central banks…Silver has slipped 6 cents to $16.92…Copper is down 2 pennies at $2.78…Nickel is unchanged at $6.31 while Zinc is up 2 pennies at $1.05…Crude Oil (WTI) has retreated 44 cents a barrel to $60.50 while the U.S. Dollar Index has gained more than one-fifth of a point at 97.36…strong reads on the U.S. economy have researchers at mortgage giant Fannie Mae revising their 2020 housing forecast much higher…Fannie Mae’s Economic and Strategic Research Group predicts builders will expand production more than previously expected, due to a strong labor market and robust consumer spending…low mortgage rates will also help…

2. BMO Capital Markets looks for Gold to benefit from loose central-bank monetary policy in 2020, allowing the metal to post an average price of $1,500 an ounce…the “vast majority” of Gold producers should be profitable at these prices, BMO added in an outlook report released this morning…they’re also calling for Silver to average $18.20 an ounce…“With inflation stubbornly low and surprisingly well correlated across global economies, monetary policy looks set to remain loose through 2020 – indeed the bias of risk is for further cuts. This will keep macro asset allocation supporting Gold and precious-metals markets. However, in our view, 2020 is more likely to be a year of consolidation than aggressive upside for Gold and Silver price. For Gold to push out the top of its current range would likely require significant portfolio rotation, most likely at a time of emerging-market panic or equity market sell-off. For a downside breakout, this would involve a significant risk-on rally for which Gold would be the funding source”…

3. Ahead of a House vote that’s expected to impeach President Trump, in a move Democrats will surely regret next November, a new CNBC All-America Economic Survey shows that the President’s economic approval numbers have surged to their highest in a year…Trump’s net economic approval rating swung from minus 8% in September (the first negative of his Presidency) to plus 9%, a massive 17-point move for the series…

4. Marathon Gold (MOZ, TSX) has delivered encouraging results from drilling at the under-explored Sprite zone, 3 to 5 km northeast of its Leprechaun deposit at its Valentine Gold Project in central Newfoundland…multiple holes returned high-grade values including 7.6 g/t Au over 22 m (VL-19–786), 10.4 g/t Au over 5 m (VL-19–776) and 9.7 g/t over 6 m (VL-19–778)…Matt Manson, President & CEO commented, “We are encouraged by these exploration results from an area of the Sprite Zone that was last explored with drilling in 2014 and 2018. The new drill holes were designed to step out from areas of previously identified mineralisation. About half hit new mineralization, some significantly so. Of note, the drilling has confirmed a new ‘Main Zone’ type sequence of stacked, en-echelon quartz-tourmaline-pyrite veining with significant Gold grades at Section 13410E. This new zone is located proximal to the Valentine Lake Shear Zone, extends to a depth of at least 250 m with an apparent thickness of up to 50 m and is bounded by mafic dikes. This is similar to the geological setting of the Main Zones of both the Leprechaun and Marathon Deposits. Hole VL-19–786, which returned 7.60 g/t over 22 m, represents a 300 m step-out to the northeast, suggesting potential extension of the mineralization along strike. We expect that Sprite, and this new discovery area in particular, will be a priority for follow up drilling in our 2020 exploration program”…MOZ is up a penny at $1.65 as of 7:00 am Pacific…

5. The Dow is up 23 points through the first 30 minutes of trading as U.S. markets aim for their 6th straight winning session…the S&P 500 and NASDAQ once again hit intra-day all-time highs in early trading…in Toronto, the TSX has retreated 55 points…the Gold Index is steady at 245 and remains on pace for a major breakout through 250 by month-end…total expected exploration expenditure in Canada in 2019 is expected to be down about 6% to $2.3 billion compared to the year prior, according to data from Natural Resources Canada…SilverCrest Metals (SIL, TSX) has closed a $92 million bought deal financing including a $12 million over-allotment option exercised in full…Skeena Resources (SKE, TSX-V) has bounced higher after announcing that it has hit 1,131.9 g/t Au over 1.5 m (36.4 oz/ton), including 3,390 g/t over 0.5 m, from 249.6 m depth in new footwall mineralization at the past producing Snip mine in the Eskay Camp…another drill hole also intersected 7.4 g/t Au over 6.65 m starting at a depth of just 41 m…key resistance for SKE is in the mid-60’s…Canada Cobalt (CCW, TSX-V), enjoying a breakout week, has retreated 2 pennies to 51 cents…however, with the drill turning at Castle East, and initial assay results expected imminently from the first wedge hole that hit massive Silver mineralization at the Robinson Zone Discovery, any weakness is an accumulation opportunity as the 200-day SMA also starts to reverse to the upside…Balmoral Resources (BAR, TSX) has hit a new 2019 high of 38 cents…

6. A supply crunch is coming and this will cause commodities to skyrocket in 2020, according to Frank Holmes, CEO of U.S. Global Investors…“This theme of ESG, environmental, social governance, is driving everything and it’s going to harm exploration. We’re going to see a supply-side restriction but people are going to have babies and the world is going to chug along and grow, but the commodities aren’t going to be there,” Holmes said, adding that a huge price rally would follow…on equities, Holmes says U.S. markets may still be the best option for stocks…“I don’t think (stock markets) are frothy and I don’t think there are many other places to go, and I think that what you have to recognize is that some of these other central banks like Switzerland are printing money out of the thin air,” he said…Holmes noted that today’s macroeconomic environment requires investors to continue to hold Gold…“You have to have Gold because there are going to be imbalances with currencies back and forth and China and India, 30 years ago, were 10% of the global consumption of Gold, but today they are 50% of the consumption of Gold and that’s correlated to rising GDP per capita”…

7. Five of the world’s largest tech companies have been accused of being complicit in the death of children in the Democratic Republic of Congo forced to mine Cobalt in a landmark lawsuit…the legal complaint on behalf of 14 families from Congo was filed a few days ago by International Rights Advocates, a U.S.-based human rights non-profit, against Tesla, Apple, Alphabet, Microsoft and Dell Technologies…the companies were part of a system of forced labor that the families claimed led to the death and serious injury of their children, it said…this marks the first time the tech industry jointly has faced legal action over the source of its Cobalt…images in the court documents, filed in U.S. District Court in Washington D.C., showed children with disfigured or missing limbs…6 of the 14 children in the case were killed in tunnel collapses, and the others suffered life-altering injuries, including paralysis, according to the complaint…“These companies – the richest companies in the world, these fancy gadget-making companies – have allowed children to be maimed and killed to get their cheap Cobalt,” Terrence Collingsworth, an attorney representing the families, told Reuters…

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December 17, 2019

7 @ 7:00

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

1. Gold has traded between $1,474 and $1,481 so far today…as of 7:00 am Pacific the yellow metal is unchanged at $1,476…Gold’s nearest resistance is in the high $1,480’s followed by $1,500…Silver is off a penny at $17.01…Nickel is 2 cents lower at $6.35, Copper is flat at $2.80 while Zinc is a penny higher a $1.04…U.S. investment bank Morgan Stanley is building up its base metals trading business after abandoning it 4 years ago, according to a Reuters report this morning…the move comes as rising volumes and volatility in industrial metals have boosted revenues for investment banks after years of lackluster market conditions…Crude Oil (WTI) is trying to gain traction above $60 a barrel…it’s up 44 cents to $60.65…the U.S. Dollar Index has rebounded one-fifth of a point to 97.20…on the data front this morning, U.S. manufacturing output rebounded more than expected in November…a just-released Bank of America survey among fund managers shows cash allocations have fallen to 4.2% of portfolios, the lowest level since March 2013…BofA’s “Bull and Bear” reading rose to its most bullish level since April 2018…also, the global economic backdrop no longer looks so scary – a net 29% of those surveyed see growth improving over the next 12 months, a dramatic turnaround from a net minus 50% in June and a record swing for a 2-month period…a net 68% say a recession is unlikely in 2020, which is the biggest 2-month swing back to May 2009 just as the Great Recession was coming to an end…respondents reported being a net 31% overweight, the highest level of the year, though the allocation level is just above its long-term average, indicating that sentiment has not gotten overheated yet…

2. Scarce Palladium briefly breached the $2,000 an ounce level for the first time this morning, before correcting, as a Phase 1 U.S.-China trade deal drives prospects of a pick-up in demand in 2020…Palladium touched $2,006 before reversing in a much-needed pullback to unwind temporarily overbought technical conditions…it’s now off $44 an ounce at $1,916…“Supply is tight in the Palladium market and when you’re adding the speculation about a potential pick-up in demand due to recovery in the global economy, you have a perfect storm of bullish news continuing to keep it supported,” Saxo Bank analyst Ole Hansen said…however, he added, “Liquidity is poor, which means that a correction can be quite brutal and could take Palladium back down towards $1,850″…Palladium, used mainly in vehicle catalytic converters, has gained more than 50% this year because of a sustained supply crunch…

3. Canadians have put amateurs in charge of their hard-earned tax dollars in Ottawa: Less than 2 months after getting re-elected with a minority government, propped up the even more economically illiterate NDP and Bloc, the Trudeau Liberals admitted yesterday that Canada’s federal budget deficit will be billions of dollars deeper than it was supposed to be this year and next, according to Finance Department figures…the budget is now so stained with red ink, with little to show for it, that it’ll likely increase pressure on the Bank of Canada to lower interest rates, especially in the event of a downtown…the projected deficit of $19.8 billion for the 12-month period that ends in March is now slated to hit $26.6 billion…that’s a $7 billion miss and it comes with investment and growth statistics that lag far behind those in the United States under Trump administration policies….Canada’s federal government is smothering the private sector, harming the resource sector and driving investment dollars to the U.S. and elsewhere…perhaps the most dispiriting graph in the new fiscal update charts real business investment…it shows that investment in Canada has fallen 10% in the past 4 years, even as business spending in competitor countries like the U.S., the U.K. and Germany has risen by a similar amount…the Trudeau budget deficit – just like like his father’s – is also structural and that means it’ll get much worse in the event of a significant Canada-made economic downtown that may already have started…

4. Great Bear Resources (GBR, TSX-V) continues to deliver impressive high-grade intercepts in its fully financed 200,000-m drill program at its 100%-owned Dixie Project in the Red Lake district of Ontario…highlights of yesterday’s fresh results from along the LP fault target included 16.8 g/t over 4.15 m (55 m to 59.15 m) in the new Gap zone, located between the Bear-Rimini and Yuma zones, and 48.7 g/t Au over 8.7 m (251.6 m to 260.3 m), including 241.9 g/t over 1.2 m, in the Auro zone…President and CEO Chris Taylor stated, “With the discovery of high-grade Gold mineralization in the new Gap area, the last significant undrilled segment of the LP fault between the Bear-Rimini and Viggo zones is being successfully filled. Remarkably, all (100%) of the drill holes completed into the LP fault structure to date have intersected similar Gold mineralization and host geology. Results continue to support continuity of Gold mineralization along more than 4 km, which remains open along strike and at depth. Our drilling strategy for 2020 is 3-fold: 1) We plan to continue the discovery process through drill testing of new targets across the project; 2) We plan to continue significant step-out drilling over 12 km of the 18-km LP fault; and 3) We will undertake concurrent closely spaced drilling in areas where we have already successfully intersected Gold“…GBR has jumped another 23 cents to $8.05 as of 7:00 am Pacific…

5. The Dow is up slightly through the first 30 minutes of trading…U.S. markets hit fresh record highs this morning and are aiming for their 5th straight winning session as a so-called Phase 1 trade deal between China and the U.S. clears the path higher for stocks to end a banner year…in Toronto, the TSX is up 8 points with the Gold Index steady at 247…Kirkland Lake Gold (KL, TSX; NYSE) has announced that it will pay a quarterly dividend of 6 U.S. cents per common share on January 13, 2020 to shareholders of record as of the close of business on December 31…the 6-cent U.S. per common share payment is 50% higher than the previous quarterly dividend payment of 4 U.S. cents per common share paid in mid-October and represents the 11th quarterly dividend payment made to shareholders following the company’s adoption of a dividend policy in March 2017…Matt Halliday, who has come over from Kirkland Lake Gold where he was a resource geologist, has officially started as Canada Cobalt’s (CCW, TSX-V) VP-Exploration in the midst of an exciting new discovery at CCW’s Castle Property in the Gowganda Camp…“In a past producing Camp like this, there’s no reason why there can’t be a 4th, 5th or 6th deposit,” explained Halliday…“I couldn’t be more excited about this unique opportunity. And it’s not just about high-grade Silver and Cobalt. We’re looking at something on the Gold side as well”…rush assays from the first wedge hole completed at the Robinson Zone Discovery (massive native Silver) are imminent as drilling of new holes from surface ramps up into Christmas…crews will have a very short holiday break before drilling resumes during the 1st week of January…much more is also on Halliday’s plate including underground drilling at the Castle mine and the PolyMet acquisition deal, expected to close any day now…CCW has hit 54 cents in early trading as it approaches a new 52-week high…Balmoral Resources (BAR, TSX) is raising another $4.5 million in a Quebec flow-through PP at 51 cents per share…BAR is up 1.5 cents at 35 cents…neighbor Wallbridge Mining (WM, TSX) has added a penny to 84 cents…key resistance for WM is in the low-to-mid 80’s…Score Media & Gaming (SCR, TSX-V), also looking strong going into year-end, is up 4 pennies at 73 cents in early trading…

6. Seabridge Gold (SEA, TSX) announced this morning that its search for large new porphyry targets within the KSM mining district has identified 4 prospects with signatures matching the established deposits where reserves and resources have been delineated…these new targets are under the Sulphurets Thrust Fault (STF) and are therefore ‘blind’, unlike the known deposits which were exposed at surface by erosion…notably, the company is inviting a new player(s) into the Eskay Camp to pursue these targets…Seabridge Chairman and CEO Rudi Fronk explained, “These are not targets we intend to drill any time soon. We think this data will be valuable to a joint venture partner. We had 3 objectives: 1) Use our extensive array of knowledge accumulated over the past decade to demonstrate that we have not exhausted the exploration potential for KSM; 2) Assess the exploration potential of areas currently proposed project infrastructure; and 3) Better define the characterization of waste materials. We believe these new targets could contribute to the multi-generational life of the KSM Mining District while the data we generated also provides insights to help optimize site development”…

7. Like Barrick (ABX, TSX; GOLD, NYSE) before it, Newmont Goldcorp (NGT, TSX; NEM, NYSE) has exited Kalgoorlie Consolidated Gold Mines (KCGM) and sold its 50% stake to Australia’s Northern Star Resources (NST, ASX)…Barrick dropped its 50% stake in Kalgoorlie in August, netting $750 million for half of the mine…Newmont has been shedding assets to streamline operations while also using its bigger piles of cash to buy back its shares…“Combined with the previously announced agreements to sell Red Lake in Canada for $375 million and Newmont’s stake in Continental Gold for $260 million, the company has meaningfully exceeded market expectations, with more than $1.4 billion in fair value cash transactions announced over the past month,” stated President and CEO Tom Palmer…“Building on Newmont’s recently announced $1 billion share repurchase program, Northern Star’s all-cash offer supports Newmont’s disciplined approach to capital allocation, which includes strategically reinvesting in the business, strengthening the company’s investment-grade balance sheet and returning capital to shareholders. The sale of KCGM also further streamlines Newmont’s portfolio, with 12 top-tier assets located on 4 continents in the world’s most favorable Gold mining jurisdictions”…

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December 16, 2019

7 @ 7:00

Visit the BMR comments section today for updates and helpful information!

1. Gold has traded between $1,474 and $1,481 so far today…as of 7:00 am Pacific the yellow metal is up $2 an ounce at $1,478…Gold’s nearest resistance is in the high $1,480’s followed by $1,500…Gold equities continue to point to higher Gold prices going into year-end…since December 3, the yellow metal has briefly traded above resistance at its 50-day moving average in the upper $1,480’s on only a couple of occasions and has closed below that SMA for the last 9 trading days…Goldman Sachs correctly describes Gold as “resilient”, commenting: “In our view, this is due to support from a weaker dollar as well as persistent concerns over late-cycle low global growth. Political risks also remain elevated with U.S. election next year and trade disputes not yet fully settled. Further, the demand from central banks remains strong, driven by de-dollarization, and is on course for 750t (tons) which represents 22% of global supplies, the highest since the Nixon era”…Silver is up 7 cents at $16.99…Palladium continues to run, up another $34 an ounce at $1,949…Copper and Nickel have both added 3 cents to $2.80 and $6.35, respectively, while Zinc is a penny higher at $1.03…it has been over a decade since the U.S. opened a new Copper mine…Nevada Copper (NCU, TSX) announced this morning that its Pumpkin Hollow operation is now processing Copper out of its underground mine near Yerington, Nevada…expected production is 65 million pounds of annual Copper equivalent…Crude Oil (WTI) remains slightly above $60 a barrel, up 12 cents at $60.19, while the struggling Dollar Index is off marginally at 97.10...more encouraging U.S. economic figures released this morning…data from IHS Markit shows that U.S. business activity hit a 5-month high in December, while U.S. homebuilder confidence has jumped to its best level in 20 years…

2. The pickup in China’s economy in November adds to the optimism from the trade deal announced late last week, though plenty of downside risks remain as the nation heads into 2020…industrial output and private consumption were both much stronger than expected, with production jumping 6.2% from a year earlier and retail sales climbing 8%, data released today showed…at the same time, fixed-asset investment in the first 11 months of this year grew at 5.2%, the slowest pace since at least 1998…if the trade deal is signed early next year as the U.S. has indicated and tariffs on some Chinese goods are lifted, it would go some way to dispel some of the uncertainty that has been hanging over the economy…domestically, policy makers still face questions about the sustainability of debt and rising defaults, but the government has emphasized policy stability and there is little chance of a change until at least March next year when authorities meet to approve 2020’s broad policy guidelines…economists from UBS AG and Oxford Economics Ltd. have upgraded their forecast for China’s GDP growth in 2020 to 6% from 5.7% after the Phase 1 trade deal was announced, while saying uncertainties will linger…

3. Canada’s Equinox Gold (EQX, TSX) is buying rival Leagold Mining (LMC, TSX) for $769.3 million (CND) in an all-stock transaction, the latest consolidation in the industry that has seen deals worth more than $30 billion (U.S.) so far this year…the offer, which implies a no-premium consideration of $2.70 per share, will create one of the world’s largest Gold companies operating entirely in the Americas…the combined entity, which is forecast to have Gold production of 700,000 ounces in 2020, increasing to 1 million ounces annualized production during 2021 and beyond, will continue as Equinox Gold and be headquartered in Vancouver…Equinox will have a diversified operating platform with 6 operating mines in the United States, Mexico and Brazil…the deal comes concurrently with a $670 million (U.S.) financing package – an at-the-market $40 million equity investment from Ross Beaty, a new $130 million convertible debenture issued to Mubadla Investment Company, and $500 million in underwritten commitments from a syndicate of lenders to refinance existing credit facilities…the board of directors, led by Beaty as Chairman, will have 8 members, 4 from each company…the management team will be led by Neil Woodyer as CEO…Leagold shareholders will receive 0.331 of an Equinox Gold share for each Leagold share held…this implies at-market consideration of $2.70 per Leagold common share, using closing prices for both Equinox and Leagold common shares on the TSX last Friday…at closing, existing Equinox and Leagold shareholders will own approximately 55% and 45% of the merged company, respectively, on an issued share basis…Ross Beaty stated, “In addition to having strong financial and operating metrics, our large scale will provide improved liquidity, greater asset and country diversification and a lower-risk profile for all shareholders. This is the kind of Gold company investors want today and I’m very pleased we are combining forces to achieve it”…

4. The Dow is up 163 points through the first 30 minutes of trading…U.S. markets hit fresh record highs this morning and are on pace for their 4th straight winning session as a so-called Phase 1 trade deal between China and the U.S. clears the path higher for stocks to end a banner year…in Toronto, the TSX is up 48 points with the Gold Index off slightly at 250…Yamana Gold (YRI, TSX; AUY, NYSE) has increased its dividend again…all technical indicators suggest the Gold Index will soon break out powerfully from that key resistance level…the Venture is 2 points higher at 542 as it begins to push through the important 540 area…Great Bear Resources (GBR, TSX-V) was halted pre-market, pending news…Canada Cobalt (CCW, TSX-V) is charging toward a new 52-week high after drilling into spectacular visual mineralization (native Silver plus Cobalt) just 750 m east of the old workings of the Siscoe (O’Brien) mine that churned out 41 million ounces of rich Silver in Northern Ontario’s prolific Gowganda Camp…drilling continues and rush assays from the first hole are possible later this week or immediately prior to Christmas…oldtimers, focused on the low-hanging fruit at the Castle, Capitol and Siscoe mines on the western margin of the Nipissing diabase, may have missed the “motherlode” in this Camp less than 1 km to the under-explored east…one only has to look at the Macassa Gold mine at Kirkland Lake, just an hour’s drive from Gowganda, as an example of such a near miss…Macassa was mined for 7 decades before the very rich South Mine Complex was first discovered a short distance away in 2005…as the saying goes, the best place to find a new mine is near an old mine…CCW’s find could be the most significant grassroots discovery in the Northern Ontario Silver-Cobalt District in 4 decades…CCW is also on the verge of closing its acquisition of the PolyMet processing facility in the town of Cobalt…the stock is up 4 pennies at 48 cents in early trading, a fresh 9-month high as it breaks out above the low-to-mid-40’s…Mosolf SE & Co. AG, a significant European dealer of DynaCERT (DYA, TSX-V), is making a strong and strategic financial commitment to the company with the expansion of dealer operations across Germany and neighbouring European countries…as well, Dr. Joerg Mosolf, President and CEO of MOSOLF, has made an additional personal equity investment of $1 million…DYA, which got a big endorsement recently from Eric Sprott, is up 2 pennies at 54 cents…

5. Balmoral Resources (BAR, TSX) has commenced its largest ground geophysical survey in several years, targeting the Area 51 Gold system on its wholly-owned Fenelon Property in Quebec…Fenelon forms part of the company’s district-scale Detour Gold Trend Project…the IP survey now in progress will provide first-pass coverage of the untested Area 50 and Area 51 West exploration targets…it will also add to the existing IP coverage of the Area 52 target…the latter target area has been confirmed to host both the southern continuation of the Area 51 Gold system and Balmoral’s recent Ripley Zone Gold discovery…in total, Balmoral plans to complete a minimum of 46 line km of surveying…results from the initial phase of IP work at Area 52 proved effective for targeting both Area 51-style sulphide-rich and more “classic” shear zone hosted Gold mineralization, as evidenced by the Ripley discovery…BAR is up 2 pennies at 34.5 cents through the first 30 minutes of trading…key resistance is in the mid-30’s…

6. Infill drilling at Osisko Mining’s (OSK, TSX) Lynx deposit has returned the highest-grade metal factor (grade x length) result intersected at Windfall to date of 1,475 g/t Au over 4.6 m in hole OSK-W-19–1731-W2...this hole is 50 m up plunge of OSK-W-19–2069-W2 (161 g/t Au over 8 m as reported Nov. 25) and confirms the high-grade continuity in the Lynx 313 wireframe…the zone remains open down plunge and definition drilling will continue to pursue the open areas…the program is currently focused on infill and expansion drilling at the Lynx deposit, exploration on the main mineralized zones, and deep exploration in the central areas of the mineralized intrusive system…21 drills are active at Lynx and Triple Lynx, with another 3 drills conducting infill and exploration drilling on other areas of the deposit…President and CEO John Burzynski commented, “Today’s very impressive results again underscore that Lynx is a well-mineralized part of the Windfall system. Lynx, discovered by Osisko in late 2016, is shaping up to be one of the best new Gold discoveries in a long time in Eastern Canada. The recently announced Lynx bulk sample results and our infill drill program are demonstrating the strong continuity of grade inside the known mineralized zones, which remain open down plunge. Our exploration team is excited by the continuing potential of what we feel is an emerging world-class high-grade Gold deposit”…OSK is up 21 cents at $3.70 as of 7:00 am Pacific…

7. Paradigm Capital analyst David Davidson has commenced coverage of GT Gold (GTT, TSX-V) with a “speculative buy” rating and $2.10 share target…Davidson stated in a note, “With investors refraining from capital investment in low-moderate grade copper projects owing to fear of capital overruns and weak commodity prices, GT Gold offers a high-grade, high-quality project that we expect will offer profitable economics, regardless of the timing of the commodity cycle. We see optionality at Tatogga, which has the option to develop as an open pit, underground or a combination of both – the project could initially be developed as a small-scale open pit (and therefore smaller capex investment) if the commodity price down cycle persists, owing to current resource estimates of +1% CuEq. In the event of a commodity price upturn, the project offers several sources of expansion potential through unlocking deeper mineralization, lower-grade ore or expansion at different zones – specifically, Saddle North is GTT’s top priority, followed by Saddle South and the new target at Quash Pass”…

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