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Check back later this morning for today’s Morning Market Musings.

1. Gold has touched a fresh 5-week high of $1,191…a Donald Trump news conference tomorrow morning is a potential market mover, either up or down for bullion, the greenback and equities…meanwhile, the U.S. Mint started selling 2017-minted Gold and Silver coins yesterday and reported strong demand (up 15%) compared to last year’s first-day sales….

2. Crude Oil prices have steadied today after a more than 4% slide yesterday on doubts that OPEC and other key producers would cut output as promised to try to reduce a global oversupply…it would be a mistake for traders to underestimate the Saudis’ desire and ability to ensure the output restrictions are adhered to…WTI is up 19 cents a barrel at $52.15 as of 7:00 am Pacific…

3. The Venture has confirmed a breakout above key 784 resistance and is closing in on 800 in early trading today…as of 7:00 am Pacific, the Venture is up 3 points at 798 as it aims for its 11th winning session out of 12 following the December 20 intra-day correction low of 711…the TSX has added 58 points while the Dow has retreated 33 points as of 7:00 am Pacific…

4. Uranium stocks remain hot…Purepoint Uranium (PTU, TSX-V) is up 1.5 cents at 15.5 cents, a new 3-year high, while NexGen Energy (NXE, TSX) has just eclipsed last year’s high of $2.86…Anfield Resources (ARY, TSX-V) is up half a penny at 11 cents…meanwhile, the U.S. Bureau of Land Management (BLM) has issued a final environmental impact statement (EIS) and record of decision (ROD) for Energy Fuels’ (EFR, TSX) 100%-owned Sheep Mountain Project located in the Crooks Gap mining district of central Wyoming…EFR is 12 cents higher at $2.64 as of 7:00 am Pacific…

5. Goldquest Mining (GQC, TSX-V) has made a VMS discovery named Cachimbo from the latest 4-hole batch of drill results at its continuing 10,000-m program on its 100%-owned Tireo concessions in the Dominican Republic…importantly, the Cachimbo discovery hole displays a 60-m mineralized package from 51 m depth to 111 m depth with multiple significant horizons…the upper horizon returned 4.6 m grading 4.5 g/t Au and 73 g/t Ag with minor base metals from 56.4 m depth, and the main VMS horizon was discovered below with a 4.9 m interval grading 13.8 g/t Au, 74 g/t Ag, 11.8 % Zn and 1.1% Copper…a wider horizon returned 15 m grading 5.3 g/t Au, 31 g/t Ag, 4.2% Zn and 0.4% Cu from a depth of 70 m…GQC gapped up to 34 cents at the open and has held those gains so far, up a nickel at 36 cents as of 7:00 am Pacific…

6. GoldQuest neighbor Precipitate Gold (PRG, TSX-V) completed 4 holes at its Ginger Ridge prospect last month…results are pending and the program has been expanded beyond the originally planned 10–12 holes (2,000 m)…as PRG noted in its December 20 news release, “core observations confirm IP geophysics are proving to be an effective guide in defining zones with elevated sulphide and silica contents”…PRG is up a penny at 19 cents through the first 30 minutes of trading…

7. Pioneering Technology (PTE, TSX-V) announced this morning that it has received a follow-on purchase order from one of the largest suite-style hotel chains in North America to equip an additional 159 hotel properties (approximately 19,000 hotel rooms) with Pioneering’s SmartBurner…the purchase order is led by one of Pioneering’s new major channel partners…the purchase is for approximately 40,560 single SmartBurners (or 10,140 4-burner kits) to equip 159 hotel properties that have approximately 19,300 hotel rooms…this new purchase order represents the second phase of major installations for this hotel chain (138 of their hotels were equipped with SmartBurner in September 2016)…PTE is up a nickel at 99 cents as of 7:00 am Pacific…

Gold has traded between $1,172 and $1,186 so far today…as of 10:30 am Pacific, bullion is up $13 an ounce at $1,185…Silver has climbed 19 cents to $16.63…Copper and Nickel are both flat at $2.52 and $4.67, respectively…Crude Oil has plunged $1.62 a barrel to $52.35 while the U.S. Dollar Index has lost nearly one-third of a point to 101.98…

Gold could fare better in 2017 than many analysts think due to the potential for further destabilization of the euro and a pick-up in physical demand from low levels in key Gold-consuming Asian nations, according to INTL FCStone…the firm released its monthly commodities outlook today which also includes a forecast for the full year…INTL FCStone sees a 2017 range of $1,050 to $1,400 in Gold…

Investors plowed a net $14 billion into so-called specialty commodity funds in 2016, making it the biggest year of inflows so far since 2010, according to data from fund tracker Morningstar…this also matches with 2016 being the best year for the Venture since 2010…two-thirds of the money invested in such funds went into ETFs that specialize in Gold, with SPDR Gold Shares (GLD) alone taking in more than $7.2 billion…over the year, investors also snapped up funds that specialize in other precious metals, such as Silver, Platinum and Palladium…in all, nearly three-quarters of the money that flowed into specialty commodity funds during 2016 went to precious metals…

Oil Update

U.S. energy companies have added Oil rigs for a 10th week in a row, according to the latest data from Baker Hughes, extending a recovery in activity into an 8th month as Crude prices remained at levels at which many drillers can operate profitably…this has raised concerns that U.S. production could undermine efforts by OPEC and others to cut output….there’s no threat, however, of major new U.S. supply coming onto the market during the 1st half of the year…the last half of 2017 could be a different story, however…according to a recent report from JP Morgan, sustained Crude prices of $50 a barrel would aid U.S. shale growth of 200,000 barrels a day for the 2nd half of the year while the jump would be much more significant at 600,000 barrels a day if Crude prices move up to $60 a barrel…any further rise may even see shale production growth breaching 1 million barrels a day…

WTIC 15-Month Weekly Chart

Technically, regardless of today’s weakness, the outlook for Crude Oil for Q1 is decidedly bullish following the predicted breakout above the “neckline” at $50 which now serves as new support…an inverted head-and-shoulders pattern formed over a period of more than a year between late 2015 and late 2016, finally leading to a breakout last month…

Such a pattern suggests Crude prices could climb as high as the $70’s at some point this year, a level that few analysts are currently predicting…however, John’s WTI charts in late 2014 correctly warned of a potential collapse to $25…

In Today’s Morning Musings…

1. FLY hits a nearly 2-year high…

2. Silver’s time to shine again?…

3. Gold-S&P 500 ratio hits lowest level in more than a decade…

4. Daniel’s Den – the sleeping giant that could awaken…

And more!

Plus more…click here to read the rest of today’s Morning Musings and all BMR exclusive content, through a risk-free Pro, Gold or Basic package, or login with your username and password…

Check back later this morning for today’s BMR Morning Market Musings.

1. Gold, coming off its biggest weekly increase in 2 months, is up another $6 an ounce at $1,178 as of 7:00 am Pacific…contrarians should like this…hedge funds and money managers cut their bullish positions in COMEX Gold contracts for the 8th straight week in the week to January 3, taking their holdings to the lowest levels in 11 months…

2. Crude Oil prices are under mild pressure to begin the new week but remain comfortably above new support at $50…WTI is off $1.33 a barrel at $52.66 as concerns about increased U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market…

3. The Venture is bucking the trend of lower broader equity markets in early trading today…as of 7:00 am Pacific, the Venture is up 5 points at 796 as it aims for its 10th winning session out of 11 following the December 20 intra-day correction low of 711…the TSX has lost 78 points while the Dow is down 48 points through the first 30 minutes of trading…

4. FLYHT Aerospace Solutions (FLY, TSX-V), building on the momentum of last week’s 20% advance, has hit a new 52-week high of 28 cents as one of the most active stocks in early trading today on the Venture…

5. Auyrn Resources (AUG, TSX) announced this morning following a trading halt that it’s raising gross proceeds of $35 million in flow-through and non-flow-through financings ($5.01 and $3.67, respectively) that will give Goldcorp (G, TSX) a 12.5% equity interest in the company…Shawn Wallace, AUG President and CEO, stated, “We are very pleased to have secured an important investment with an industry leader such as Goldcorp, on favourable terms that minimizes dilution to our shareholders.  Auryn is now fully funded to complete one of the most extensive, globally significant exploration programs in 2017. The program will include a planned 55,000 m of exploration drilling across 6 projects in Canada and Peru and expect to make a number of advances that could potentially contribute to the realization of multiple major Gold discoveries.”

6. Marathon Gold (MOZ, TSX) has intersected more wide intervals of high-grade Gold at depth at its Marathon deposit in the Valentine Lake Camp…results released this morning included 3.01 g/t Au (uncut) over 47 m in extended MA-15–109, 2.60 g/t Au over 44 m in MA-16–150, 3.33 g/t Au over 13 m in MA-16–152 and 3.87 g/t Au over 9 meters in MA-16–151…meanwhile, shallow drilling in the central part of the deposit also hit high grade, near-surface mineralization with 15.78 g/t (uncut) over 5 m including 31.57 g/t Au (uncut) over 2 m in MA-16–150…Marathon currently has 2 rigs on site and has decided to proceed with a 3rd-party resource update by the end of February, earlier than originally anticipated…MOZ is up a nickel at 62 cents as of 7:00 am Pacific…

7. Eldorado Gold (ELD, TSX), which last Friday reported 2016 Gold production of 486,000 ounces and lower than expected all-in-sustaining costs of approximately $915 an ounce, will rein in spending and delay development plans in Turkey and Brazil to cope with what it expects to be a lacklustre year for Gold…the Vancouver-based miner lowered its expectations for the price of Gold in 2017 to around $1,150 an ounce from a previous estimate closer to $1,300…in order to offset that expected hit to revenue, the company slashed spending plans in Turkey and Brazil and altered a capital deployment timeline at its Skouries mine in Greece…

TSX Venture Exchange and Gold

Discerning the direction of the overall market is critical to maximizing profit potential on individual Venture stocks, so what does last week’s action tell us about the Index entering the rest of January?

After 9 positive trading sessions out of 10 and an 11.3% jump since the December 20 intra-day low of 711, has this seasonal move already run its course?  Or is time to back up the truck and load up on the best plays for an unusually strong January?

Find out what’s in store for the Venture in the days and weeks ahead, and start your 2017 trading in the right fashion, by taking out a risk-free BMR Basic, Gold or Pro Subscription TODAY through our limited-time SPECIAL that SAVES you 25%!

With an industry-leading 100% money-back satisfaction guarantee for new subscribers, you can enjoy unlimited access to all BMR content and valuable trading strategies that provide unbeatable returns such as 118% last year for our Top 50 Opportunities List. 

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The BMR Top 50 Opportunities List finished with a gain of 118% at the end of 2016, vastly outperforming the markets.  By comparison, for the same time frame after the Top 50 List was unveiled in early December 2015, the Venture surged 47%, the TSX climbed 14.4%, the Dow was up 10.7% and the NASDAQ added 4.7%.  Gold rose 6%. 

Individual category performances (comprising 50 stocks) are as follows:

PRODUCERS:  Up 69%

NEAR-PRODUCERS:  Up 146%

EXPLORERS:  Up 129%

EXPLORER SLEEPERS UNDER A NICKEL:  Up 229%

NON-RESOURCE:  Up 78%

In tonight’s report is an updated performance review of each category through December 30, 2016, and comments on the “best of the bunch” for 2017.  We will be introducing a new 2017 list and format in the near future. 

Overall, 38 or 76% of the 50 picks increased in value while 12 were down.  Twenty-two out of 50 stocks gained 100% or more, including 15 or 30% that advanced by >200%.

The top 10 performing stocks were as follows:

Cordoba Minerals (CDB, TSX-V): Up 461%

Lithium X Energy (LIX, TSX-V): Up 451%

Kiska Metals (KSK, TSX-V): Up 400%

Pure Gold Mining (PGM, TSX-V): Up 395%

Cannabix Technologies (BLO, CSE): Up 363%

Adventure Gold (merged with Probe Metals, PRB, TSX-V): Up 342%

Walker River Resources (WRR, TSX-V): Up 320%

Aphria Inc. (APH, TSX-V): Up 294%

Gold Standard Resources (GSV, TSX): Up 290%

Goldmining Inc. (GOLD, TSX-V), formerly Brazil Resources): Up 288%

The best-performing resource stock on the Top 50 List for the 4th quarter of 2016 was Garibaldi Resources (GGI, TSX-V) with a 93% gain following game-changing recent confirmation of the first magmatic Ni-Cu-PGE-AU-Co massive sulphide system in northwest British Columbia’s prolific Golden Triangle, 10 miles southwest of Eskay Creek and 20 miles west of Pretium Resources (PVG, TSX) high-grade Brucejack Gold mine slated for commercial production later this year.

The top non-resource plays on the Top 50 List for the 4th quarter were Cannabix Technologies, up 138%, and Canopy Growth (CGC, TSX), up 126%.

NEW ADDITIONS

Not included in the above statistics is a second category of 50 additions (New Additions) to the Top 50 List during the course of 2016.  Combined, that group posted an impressive 19% gain (higher on an annualized basis) with the top 5 performers as follows:

Almadex Resources (AMZ, TSX-V): Up 160%

Ascendant Resources (ASND, TSX-V, formerly Morumbi Resources): Up 156%

Canadian Zeolite (CNZ, TSX-V): Up 149%

Dolly Varden Silver (DV, TSX-V): Up 140%

Savary Gold (SCA, TSX-V): Up 100%

Note: Past performance does not guarantee future results. You should not rely on any past performance as a guarantee of future investment performance.  Our stock coverage is for informational and entertainment purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. No investment opinion or other advice is being rendered on any stock or company. We strongly recommend that you consult with a qualified investment adviser, one licensed by appropriate regulatory agencies in your legal jurisdiction, and do your own due diligence and research before making any investment decisions. The stocks we cover, by definition, are highly speculative and potentially very volatile. Investors are cautioned that they may lose all or a portion of their investment if they make a purchase or short sale in these speculative stocks. We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction.

1. Targeting a junior that’s likely to be bought out in 2017…

2. Our favorite 2 Gold producers and an emerging high-grade producer that could roar in 2017…

3. Last year was just a warm-up act for this summer’s BIG SHOW in the Heart of Gold Camp…

4. Quadruple your money on this low-priced tech-related play in 2017…

Learn more and super-charge your portfolio for 2017 by reading the rest of tonight’s report as a BMR Basic, Pro or Gold subscriber (risk-free for 6 months)!…

Take advantage of our limited-time SPECIAL and SAVE 25% on your membership as a second wave of the Venture bull market begins…

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