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

1. Gold has traded between $1,247 and $1,260 so far today…as of 7:00 am Pacific, bullion is off $4 an ounce at $1,253…Gold’s net short positioning currently stands at 1,254 contracts, according to Friday’s latest COT report, which is the biggest net short since 2015…“Speculative financial investors remained pessimistic in the week to 3 July, though the increase in net-short positions in Gold was not as pronounced as one might have assumed given the price slide,” said commodity analysts at Commerzbank…holdings of SPDR Gold Trust, the world’s largest Gold-backed ETF, have hit their lowest level (800.77 tonnes) since August of last year…contrarians are encouraged by those statistics…Silver has slipped 7 cents to $16.00…base metals are under some additional pressure…Copper, Nickel and Zinc are at $2.87, $6.34 and $1.21, respectively, down modestly from yesterday…Cobalt is steady at $32.89 while Crude Oil has firmed up 81 cents to $74.66…the U.S. Dollar Index has rebounded one-third of a point to 94.36…after an historic Supreme Court nomination last night that has thrown another curveball at the apocalyptic left, President Trump departed this morning for a 7-day tour through Europe that will begin with him confronting jittery NATO allies over military spending and end with a summit with President Vladimir Putin that will seek to reset U.S. relations with Moscow…

2. Crude Oil prices are trading near new multi-year highs this morning due to growing supply outages…Norway has shut 1 Oilfield as hundreds of workers began a strike, while Libya says its production more than halved in recent months…the disruptions add to supply worries around the world…Venezuela’s socialist economy is crumbling while Iranian exports are suffering due to U.S sanctions…OPEC, meanwhile, appears to have little capacity to fill the gap as demand for Oil quickens…“In a worst-case scenario, you lose 2 million barrels a day from Iran and 1 million from Venezuela, totaling 3 million barrels a day, and suddenly the increases from OPEC aren’t nearly enough to cover it,” stated Tom Pugh, commodities economist at consultancy Capital Economics…the United States, unlike Canada, is going all-out to increase production to meet global demand…the number of rigs drilling for Oil in the U.S. has risen by 5 to 863, according to data published Friday…the Energy Information Administration forecasts U.S. Crude production to average a record 11.8 million barrels a day next year, as the industry responds to higher Oil prices and logistical constraints are addressed…

3. Canadian politicians could learn a lot from what’s happening in Texas which has claimed top spot in CNBC’s 2018 America’s Top States for Business rankings…“The Texas economy remains in a broad-based expansion,” said Dallas Federal Reserve economists Christopher Slijk and Jason Saving in a recent report.  “The state’s energy sector continues to boom, and areas of the state tied to Oil and gas are growing at their strongest pace since 2014“…Texas posted a torrid 5.2% GDP increase in the 4th quarter last year and has added more than 350,000 jobs in the past 12 months with the largest increase in the energy sector…put another way, 1 in 7 jobs created in the United States in the past year was created in Texas…the state is also not just a 1-trick pony as it has notched high marks in the CNBC survey in multiple categories of competitiveness including workforce, infrastructure, technology and innovation, and access to capital…

4. Kirkland Lake Gold (KL, TSX) has reported Q2 production of 164,685 ounces, pushing the total for the 1st half of 2018 to 312,329 ounces…Q2 was driven by record quarterly production from Macassa of 60,571 ounces and record monthly production in June at Fosterville of 31,710 ounces…the company is well positioned to achieve its full-year 2018 consolidated production guidance of over 620,000 ounces…consolidated Q2 2018 production of 164,685 ounces compared to 160,305 ounces in the 2nd quarter of 2017 and 147,644 ounces in the 1st quarter of this year…cash and cash equivalents increased $43 million or 16% during Q2 to approximately $318 million as of June 30, 2018…

5. The Dow is up another 117 points through the first 30 minutes of trading…in Toronto, the TSX has climbed 71 points…Toronto-Dominion Bank (TD, TSX) will buy Saskatchewan-based Greystone Managed Investments for roughly $792-million in stock and cash, a transaction which the bank says makes its asset management division the biggest money manager in Canada…acquiring the institutional money manager is expected to add another $36 billion in Canadian assets under management and expertise in real estate, mortgages and infrastructure investments as competition in the industry heats up…the Venture is flat at 742 as of 7:00 am Pacific…National Access Cannabis (META, TSX-V) has hit a new all-time high of $1.26 in early trading…MYM Nutraceuticals (MYM, CSE) has entered into an agreement to acquire a 49% stake in Colombian cannabis company Colombia Organica which currently holds a seed-to-sale licence for low THC (tetrahydrocannabinol) cannabis…this license permits Colombia Organica to grow, produce and create cannabis derivatives to be commercialized and/or exported…further, Colombia Organica is in the licensing process for the cultivation and production of high THC cannabis extracts…

6. Cornerstone Metals (CCC, TSX-V) announced this morning that the company will resume drilling at its Carlin Vanadium Project in Nevada during the first week of August…Cornerstone has secured a drill contractor to conduct an infill and deposit expansion reverse circulation (RC) drill program under its current BLM permit, and the program will consist of 40 to 50 shallow vertical and angled RC drill holes…of those, 3 holes will twin historic holes to provide additional comparisons for grades…15 will be conducted to infill parts of the deposit to tight 40-m centres…in addition, 22–32 holes will be drilled selectively on edges of the deposit with the objective of expanding the size of the deposit…upon completion of the drill program, a resource estimate will be prepared, based on all historic and Cornerstone drilling on the property…CEO Paul Cowley conducted a site visit last week to identify and rank multiple options for the plant, waste rock and tailings facilities sites on the property, and to review infrastructure, including road, rail and power access…location and surrounding and onsite infrastructure are strong aspects of the project…

7. Canalaska Uranium (CVV, TSX-V) announced this morning that it has modelled historical drill data and defined a 400-m-long high-grade Nickel target within a 1,200-m-long horizon of semi-continuous Nickel mineralization, north of the former producing Manibridge Nickel mine in Manitoba’s Thompson Nickel belt…the Manibridge Project is located in an area of generally high Nickel tenor mineralization, outlined by discovery drill holes and recent airborne geophysical surveys, as well as a number of untested targets…additional airborne survey work is currently being tendered by the company, with the aim to have several drill targets ready by this fall…historical drilling in the mineral zone reported significant Nickel values over mineable widths…

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Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information!

1. Gold has traded between $1,258 and $1,266 so far today…as of 7:00 am Pacific, bullion is up $8 an ounce at $1,262… Silver has climbed 15 cents to $16.16…Copper and Nickel are both rebounding after last week’s slide in base metals…Copper is up 5 cents at $2.90 while Nickel has added a dime to $6.38…Zinc is off another penny at $1.25…Cobalt is steady at $32.89 while Crude Oil has eased off 13 cents to $73.67…Suncor (SU, TSX) announced this morning that its Syncrude Oil sands facility won’t ramp up to full production until early to mid-September after an outage late last month shut total output…pipeline shipments of treated product are expected to be approximately 60% to 70% of capacity for August…the cause of the disruption was a transformer trip, Suncor says, resulting in a rapid site-wide loss of power and steam generation…the U.S. Dollar Index is off slightly at 93.95…the Chinese yuan rebounded today and the euro rose to its highest since mid-June as investors bought riskier assets following favorable U.S. jobs data last week and evidence that global trade tensions have not yet slowed economic momentum…

2. Saudi Arabia and Russia have been pumping more Oil in recent weeks after OPEC and other major producers succeeded in draining global stocks and pushing prices to their highest levels since late 2014…however, doubts remain over whether the boost in production will be enough to offset losses to supply from Venezuela, Iran and Libya…Bank of America Merrill Lynch analysts say that while Saudi Arabia has the spare capacity available to ramp up output, it seems unlikely that the country will pump enough Oil to make up the difference from harsh sanctions on Iranian Oil…“It appears the Oil market has little confidence that Iran volumes can be easily replaced,” the bank said…

3. The amount of Gold held by global ETFs and similar products fell by 49.3 tonnes to 2,434.3 tonnes in June, according to the World Gold Council…in U.S. dollar terms, assets under management fell 2.1% from May to $97.9 billion…“Investors seemed to shrug off poor equity-market performance and escalating global trade tensions, pushing the Gold price down by 4.2% in June,” the WGC said…the bulk of the outflows came from North America, as these holdings declined by 44.4 tonnes…Asian-listed ETFs posted outflows of 3.5 tonnes, while holdings by European ETFs climbed by half a tonne tonne…holdings in other regions fell 2 tonnes…

4. Pretium Resources (PVG, TSX) released strong 2nd quarter production numbers this morning for the Brucejack mine in the Eskay Camp…111,340 ounces of Gold were produced, bringing the 2018 first half total to 187,000 ounces (in the top range of guidance)…the mill feed grade for Q2 improved to an impressive 14.9 g/t Au while the Gold recovery rate was 97.7%…President and CEO Joseph Ovsenek stated, “The successful integration of our grade control program into our mining process has resulted in increased grade to the mill with production exceeding grade control estimates for the quarter.  Brucejack has now achieved steady-state production, and we expect to deliver 200,000 to 220,000 ounces of Gold for the second half of 2018“…to improve access and build stope inventory, the rate of underground development has been increased to 700 m per month, up from the 420 m contemplated in the 2014 Brucejack Feasibility Study…the increased stope inventory will improve the management of production grades…All-In-Sustaining-Costs (AISC) for the 2nd half of 2018 are expected to range from $710 (U.S.) per ounce Gold sold to $770 (U.S.) per ounce Gold sold…as production has now reached steady state at Brucejack, Pretium says an increased focus will be placed on operational efficiency to reduce costs…PVG has jumped $1.63 a share to $12.63 through the first 30 minutes of trading…

5. The Dow is up 188 points through the first 30 minutes of trading…in Toronto, the TSX has climbed 34 points…Barrick Gold (ABX, TSX) and China’s Shandong Gold said this morning that they would deepen cooperation beyond their Argentinian joint venture, potentially working together on acquisitions…Barrick, the world’s largest Gold producer, last year signed a nearly $1 billion deal to sell Shandong a 50% stake in its Veladero mine in Argentina…the development is one of Barrick’s top 5 Gold mines…the Venture is up 2 points at 742 as of 7:00 am Pacific as it continues to rebound from last month’s lows…

6. Probe Metals (PRB, TSX-V) has firmed up in early trading after releasing results from 42 additional drill holes, totaling 15,248 m, that show continued expansion of the Gold resource within the Pascalis Gold Trend at its Val ‘Or East Project…assays were highlighted by 35 m grading 2.2 g/t Au (drill hole PC-18–328, eastern extension of North zone)…in addition, two new discoveries have been made at the north and south ends of the current limits of the explored Gold corridor…David Palmer, President and assays were CEO, stated, “In addition to its remarkable continuity and consistency, the Pascalis Gold Trend continues to impress us with its expansion potential as we extend out the boundaries of the mineralized system.  The most recent drilling has resulted in two new Gold discoveries, up to 350 metres away from the current resource areas, confirming that we are over a significant Gold system.  Results to date are extremely encouraging and we will now be increasing the drilling program to follow up on these recent successes”…

7. Wolfden Resources (WLF, TSX-V) is up a few pennies after announcing that it has intersected 4.7 m grading 24% Zinc, 10% Lead, 0.9% Copper, 267 g/t Ag and 1.6 g/t Au in drill hole PM-18–022 at a vertical depth of 530 m in the West lens of the Picket Mountain deposit in Maine… in addition, assay results are pending for a second deep drill hole, PM-18–023 that was recently completed, and intersected multiple intervals of massive sulphide mineralization approximately 100 m further to the east of hole 22 and at a similar depth…these recent holes are the deepest drilling completed by the company to date at Picket Mountain and clearly demonstrate the potential to expand resources below a depth of 400 m where there was little historical drilling…the current program consists of infill and expansion drilling but will also test several new high priority exploration targets identified proximal to the main deposit that have recently been outlined by ground and airborne geophysical surveys…

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The Venture glass is half full, not half empty, and “selective” investing could deliver life-changing returns over the coming months – find out today where your focus needs to be…