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TSX Venture Exchange & Commodity/Currency Updates

Key immediate situations to focus on as a discovery-driven new phase of the Venture bull market fast approaches…

Check back later today for additional BMR posts and visit the comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,286 and $1,302 so far today…as of 7:00 am Pacific, bullion is up $10 an ounce at $1,298…just a matter of time before the yellow metal punches convincingly through $1,300…Gold has been aided by multiple factors this week including equity volatility, dovish comments from the ECB and the Fed as well as yesterday’s suspected Islamist terrorist attack in Span…Silver has jumped 11 cents to $17.13…base metals are mostly higher again today, led by Nickel and Zinc with gains of 1.3% and 1%, respectively…Nickel is trading at $4.89 while Zinc has topped the $1.40 level…Crude Oil is relatively flat at $47.02 while the U.S. dollar has slipped one-third of a point to 93.44…

2. Zinc is set to post its biggest weekly price increase since November as a sharp fall in stocks has put the metal near its highest in a decade…a rise in steel trading fees this week prompted Chinese traders to divert money to Zinc, fueling its momentum…meanwhile, Chinese Zinc production fell 6.3% year-on-year in July to 476,000 tonnes, raising supply concerns…Chinese home price growth slowed in July, but a construction spree is still supporting the economy and the International Monetary Fund this week upgraded its short-term growth forecasts…Aluminium and Copper are also near multi-year highs after a wave of speculative buying underpinned by expectations of continued strong demand in China…

3. U.S. consumer sentiment climbed in August to a 7-month high as a measure of the outlook for the American economy and personal finances registered the largest 1-month advance since the end of 2011, according to University of Michigan survey data released this morning…the sentiment index rose to 97.6, higher than expected, and up from 93.4 in July…meanwhile, the 8.5 point increase in consumer expectations is the biggest since December 2011…

4. Crude Oil prices will likely finish lower this week but there are signs of tightening supplies in the United States…despite a 13% jump in production since mid-2016 to 9.5 million barrels per day, the country’s commercial Crude inventories have fallen 13% from their March records to below 2016 levels…

5. U.S. equity markets are under slight pressure this morning after yesterday’ sell-off…the Dow and S&P are on track for their first 2-week losing streaks since May, while the NASDAQ is set to fall for the 4th straight week…the Dow has retreated 73 points through the first 30 minutes of trading…in Toronto, the TSX has fallen 79 points while the Venture is up 1 point at 769 on strength in precious metals and continued strong interest in exploration developments in northwest British Columbia…

6. Constantine Metal Resources (CEM, TSX-V) hit a new multi-year high of 30 cents this morning and is up 4 pennies at 28 cents as of 7:00 am Pacific on strong volume…yesterday, the company reported that it has intersected high-grade Zinc and Silver in follow-up drilling to discovery hole CMR17-89, 3 km from the known mineral resource at its Palmer JV Project in Alaska…to date, mineralization has been defined over an area measuring 180 m x 50 m, and over a vertical distance of approximately 200 m, and remains open in all directions…the drill program has been expanded to 10,000 m…highlights from the 3 holes released yesterday include 17.8 m in CMR17–92 grading 11.7% Zn and 6.3 g/t Ag; 24.6 m grading 260 g/t Ag and 1.4% Zn in CMR17–94; and 20.4 m grading 9.9% Zn and 14.4 g/t Ag in CMR-17–96…Garfield MacVeigh, President, commented, “The initial 4 holes released for the AG Zone discovery have defined a significant new zone of mineralization that is wide open to expansion. While it is very early days in our exploration of the AG Zone, the length, grade and broad area of the drill intersections in combination with the scale and intensity of hydrothermal alteration indicate excellent potential for a sizeable deposit. The discovery is a major new development for the Palmer Project and we look forward to the results of ongoing exploration drilling.”

7. Kirkland Lake Gold (KL, TSX), which made its NYSE trading debut this week, is enjoying its 9th straight winning session…the company recently reported an exceptional Q2 with record net earnings of $34.6 million or 17 cents per share (up 164% from Q1)…cash flow generated was $44.8 million (up from $37.2 million)…all-in production costs at Macassa were $482 per ounce (down from $729)…all-in costs at Fosterville were a remarkable $388 per ounce…the company paid down debt and repurchased 1.3 million shares of stock (over 2 million shares ytd)…combined with high-grade visible Gold intersections from Fosterville – 338 g/t Au over 33.6 m, drill results from Taylor (38 g/t Au over 3 m), NYSE listing, and insider buying from Eric Sprott (upping his stake to 10.3%), it’s not hard to understand why KL is one of the most attractive Gold producers on the planet right now…

The most popular recent BMR articles/videos…

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

CSR Builds Momentum At Castle Mine

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

1. Gold has traded between $1,283 and $1,291 so far today…as of 7:00 am Pacific, bullion is up $3 an ounce at $1,286…Silver is flat at $17.12…base metals are steady to slightly negative after yesterday’s big jump on bullish demand signs…Copper is trading at $2.93 while Nickel is unchanged at $4.86…Palladium, up $14 at $920, has hit a fresh 16-year high…Crude Oil has slipped 25 cents to $46.53 while the U.S. Dollar Index has rebounded one-third of a point to 93.77 after backing off yesterday after Fed minutes that were interpreted to be dovish…the dollar got a boost this morning from the European Central Bank minutes that sent the euro to a 3-week low…the ECB’s July meeting showed policymakers were worried about a possible overshoot in the euro which would threaten the central bank’s efforts to get inflation higher…

2. U.S. economic data released this morning showed factory output slipping in July as auto production fell off, while the index for current general activity in the Philadelphia Federal Reserve’s manufacturing business outlook survey fell to its lowest level in 7 months…this comes on the heels of better than expected economic data earlier this week including critical retail sales…

3. The Crude Oil market is digesting a ramp-up in U.S. shale production…U.S. Crude output rose 79,000 barrels a day, to 9.502 million bpd, during the week ended August 11 according to weekly data released yesterday by the Energy Information Administration…that offset the EIA’s more bullish data, which showed a further drawdown in U.S. Oil stocks, the 9th reduction in 10 weeks…

4. After 4 straight winning sessions, the Dow has retreated 90 points through the first 30 minutes of trading…the Dow is up 70 points at 22,069 through the first 30 minutes of trading…in Toronto, the TSX is down 20 points while the Venture has added nearly a full point to 771…a stubborn band of resistance exists between 770 and 778 – as soon as that is overcome, the Index could accelerate rapidly…GTT Gold (GT, TSX-V) has closed a $5.75 million financing at 85 cents…proceeds will be used to ramp up drilling at its high-grade Gold discovery in the Saddle zone of its Tatogga Property near Red Chris…the stock is up 9 cents to $1.46 in early trading…

5. Constantine Metal Resources (CEM, TSX-V) has intersected high-grade Zinc and Silver in follow-up drilling to discovery hole CMR17-89, 3 km from the known mineral resource at its Palmer JV Project in Alaska…to date, mineralization has been defined over an area measuring 180 m x 50 m, and over a vertical distance of approximately 200 m, and remains open in all directions…the drill program has been expanded to 10,000 m…highlights from the 3 holes released this morning include 17.8 m in CMR17–92 grading 11.7% Zn and 6.3 g/t Ag; 24.6 m grading 260 g/t Ag and 1.4% Zn in CMR17–94; and 20.4 m grading 9.9% Zn and 14.4 g/t Ag in CMR-17–96…Garfield MacVeigh, President, commented, “The initial 4 holes released for the AG Zone discovery have defined a significant new zone of mineralization that is wide open to expansion. While it is very early days in our exploration of the AG Zone, the length, grade and broad area of the drill intersections in combination with the scale and intensity of hydrothermal alteration indicate excellent potential for a sizeable deposit. The discovery is a major new development for the Palmer Project and we look forward to the results of ongoing exploration drilling.”  CEM is up half a penny at 23.5 cents as of 7:00 am Pacific…

6. Blind Creek Resources (BCK, TSX-V) has commenced an exploration program at its 100%-owned and fully permitted Engineer Gold mine Property 32 km southwest of Atlin…geological mapping, sampling and a soil geochemical survey are intended to build on previous  results immediately south of the historic high-grade Engineer mine and on the Wann River claims, 5 km to the south, where a soil geochemical survey defined the BC anomaly 500 m east of the historic mine workings in an area that has only seen limited modern exploration…the BC anomaly is elevated in Gold and Silver with an outer halo of elevated arsenic, antimony and molybdenum…all are elements associated with Engineer-style Gold mineralization within the historic mine…the BC anomaly represents the largest near-mine soil geochemical anomaly defined to date around the Engineer…it’s 300 m long by 250 m wide and is near the projected intersection of shears “A” and “B”, large second-order fault structures known to host significant Gold mineralization in hydrothermal breccias within the mine workings…

7. Marathon Gold (MOZ, TSX) continues to release positive results from infill and exploration drilling at the Marathon Gold deposit in central Newfoundland’s Valentine Lake Gold Camp…drill holes MA-17–184 and MA-17–186, designed to drill subvertical down through the main mineralized corridor, intersected wide intervals of good gold grades including 1.6 g/t Au gold over 191 m with 3.16 g/t Au over 27 m and 7.16 g/t Au over 8 m in MA-17–186…MA-17–185, designed to drill through the hanging wall, skirting along the western side of the main mineralized corridor and then crossing into the footwall conglomerate, intersected significant intervals of low-grade Gold values in the hanging wall…drilling with 4 rigs continues at Valentine Lake as Marathon works toward maximizing drill coverage for the new resource update in the 4th quarter of this year…the update will form the foundation of a PEA which will be commissioned after the resource is completed…MOZ is up slightly at $1.02 as of 7:00 am Pacific…

The most popular recent BMR articles/videos…

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

CSR Builds Momentum At Castle Mine

Check back later today for Daniel’s Den.

1. Gold has traded between $1,267 and $1,274 so far today, as of 7:00 am Pacific, bullion has reversed higher by $1 an ounce to $1,272…strong technical support exists in the $1,260’s…Silver has added 20 cents to $16.81…base metals are very strong today, led by Nickel (up 17 cents to $4.85) and Zinc (up 6 cents to a new multi-year high of $1.40)… Copper has gained 5 cents to $2.93…Crude Oil is up slightly at $47.67 while the U.S. Dollar Index has rallied another one-quarter of a point to 94.08…stiff resistance begins around 95.0…

2. Indian Gold imports surged to $13.35 billion during the April-July period, according to data today from the government’s Commerce Ministry…July saw the biggest gains, as the yellow metal’s imports jumped to $2.1 billion, doubling last year’s monthly data…July was an important month for the country, which rolled out a new 3% nationwide sales tax on Gold and Gold jewelry on the first of the month….data also show a significant rise in Gold shipments from South Korea…

3. Minutes of the Federal Open Market Committee meeting are due later in the day…the dollar could get another boost if the minutes deliver a hawkish tone on top of some strong economic data that was released yesterday including retail sales which jumped the most in July in 7 months…

4. The broader equity markets are building on their gains from yesterday…the Dow is up 70 points at 22,069 through the first 30 minutes of trading…in Toronto, the TSX has jumped 57 points while the Venture has backed off slightly from resistance at 770…Cornerstone Metals (CCC, TSX-V), sporting a market cap of just $1.75 million, continues to be one of the Venture’s most active stocks, adding half a penny to 7.5 cents as of 7:00 am Pacific…last Friday, the company announced it has entered into an LOI to acquire one of he largest primary Vanadium deposits in the United States…

5. Almadex Minerals (AMZ, TSX-V) woke up yesterday, releasing strong assay results from drill hole EC-17–029 from the Norte zone at its El Cobre Gold-rich Copper Porphyry Project in Mexico – 543.9 m @ 1.31 g/t AuEq (0.90 g/t Au and 0.30% Cu)…this included a high-grade interval of 144.8 m @ 1.77 g/t Au and 0.45% Cu…the hole intersected continuous mineralization for more than half a kilometer, showing how the Norte zone is developing significant tonnage as well as good grades…AMZ gained 17 cents yesterday to close at $1.23, just a couple of pennies below resistance at its declining 200-day moving average (SMA)…AMZ is off 2 cents at $1.21 in light early trading so far this morning…

6. In a letter to shareholders, First Cobalt (FCC, TSX-V) says trading in its stock could resume “in a matter of days” and the company will inform the market as soon as it has a trading date…the stock has been halted since June 22 while regulators review details of FCC’s transactions with Cobalt One and CobalTech (CSK, TSX-V) that will bring both of those entities into First Cobalt, creating one of the largest pure play Cobalt companies in the world…meanwhile, First Cobalt’s exploration program continues and is intended to provide a better understanding of the distribution and extent of Cobalt mineralization within the historical Keeley-Frontier mine and explore other Silver-Cobalt prospects on the property…initial assays from the drill program are anticipated in September…work completed to date includes structural mapping of Keeley-Frontier, outcrop mapping and sampling, multi-element geochemical data interpretation, downhole televiewer surveys, and a review of acquired airborne magnetic data…all data are being integrated within a 3-D geological model that is based on about 50 years of data on FCC’s Greater Cobalt project area, which will contribute to the development of a geological model for the Camp…

7. Critical Elements (CRE, TSX-V) is pushing higher in early trading after announcing that the environmental impact study (EIS) for the Rose Lithium-Tantalum Project has been officially submitted to the environmental and social impact review committee (COMEX) and the Canadian Environmental Assessment Agency (CEAA)…submission of the EIS is an important step in the process of obtaining authorization for the project…the EIS conducted as part of the potential start-up of Rose sets out the environmental footprint of the project, the methods for identifying potential social and territorial impacts, and the various initiatives proposed…

The most popular recent BMR articles/videos…

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

CSR Builds Momentum At Castle Mine