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Fresh discoveries and a rebound in metals may have triggered a major Venture surge…

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 $1,186 and $1,198 so far today…as of 7:00 am Pacific, bullion is up $12 an ounce at $1,196…Fed Chairman Jerome Powell is currently addressing attendees of the Jackson Hole Symposium in Wyoming where leading central bankers are meeting to discuss the future of monetary policy…Powell says he sees “further, gradual” rate hikes ahead as the economy continues to hum…Silver is 23 cents higher at $14.69…Copper is up 3 pennies at $2.73…Nickel is ahead slightly at $6.00…Zinc has added 2 pennies to $1.14 while Cobalt is steady at $29.26…Crude Oil has jumped $1.37 a barrel to $69.20…“Third-party reports indicate that Iranian tanker loadings are already down by around 700,000 bpd in the first half of August relative to July, which if it holds will exceed most expectations,” U.S. investment bank Jefferies said this morning…”We expect that by Q4 the market will be dealing with either undersupply, dwindling spare capacity – or both,” it added…

2. ANZ analysts on Gold:  “Investor appetite for Gold has been in the doldrums in recent months.  Rate hikes, low inflation, rising equity markets and a strong dollar have significantly diminished Gold’s appeal.  (However), the fall in Gold prices could invigorate a pick-up in physical demand.  Overall we see prices stabilizing at current levels, with the probability of a short-covering rally increasing substantially”…

3. The Dow is up 79 points through the first 30 minutes of trading…Wall Street has shrugged off the mainstream’s media’s Trump-bashing frenzy, cheering a week featuring strong corporate earnings and economic data…this is now the longest bull market in U.S. history…in Toronto, the TSX is 23 points higher…another loss in the courts for Canada’s Oil haters…the Supreme Court announced yesterday that it has dismissed the application from the City of Burnaby, which had asked the country’s highest court to consider overturning a lower court decision that denied the port city leave to appeal a ruling by the National Energy Board…the Venture, continuing to gain steam as a new uptrend forms, has jumped another 5.5 points to 705…Great Bear Resources (GBR, TSX-V), which has soared this week on impressive drill results from its Dixie Property in the Red Lake district, was halted late yesterday with news just out that the company has arranged a financing led by Rob McEwen for up to $10 million at $1.45 per unit…McEwen has agreed to purchase $4.8 million of the PP while McEwen Mining (MUX, TSX, NYSE) has agreed to purchase $1.2 million for a total of $6 million…on completion of the financing, Rob McEwen and McEwen Mining will collectively own 18.8% of Great Bear Resources on a partially diluted basis…

4. Canada Cobalt (CCW, TSX-V) has just announced that it has drilled into multiple vein structures enriched with Cobalt-Nickel arsenides and Cobalt arsenides (high-grade Cobalt), with the latest underground drilling occurring near the #3 Shaft where Agnico Eagle (AEM, TSX) hit a “glory hole” in 1979 (that vein was rich enough in Silver – many hundreds of ounces per tonne – to put the mine into production for the next decade)…CCW has completed 40 holes to date from the first level of the mine, covering a distance of 200 m, with most of them intersecting visible Cobalt…initial assays are pending…CCW is the only company drilling underground in Canada for high-grade Cobalt, and it’s also the first company in Canada’s most prolific Cobalt district during this “battery arms race” to produce a premium grade Cobalt sulphate product…the company is also now working on Nickel-Manganese-Cobalt (NMC) formulations through its proprietary Re-2OX process…meanwhile, Canada Cobalt also announced this morning that dewatering of level 2 of the mine has just started while the company has also launched a 2,000-m surface drilling program targeting a potential new discovery area approximately 1.5 km east of the #3 Shaft…results from stripping of outcrop, trenching and MMI soil sampling within a large Nipissing diabase basin are supported by strong IP conductivity and chargeability anomalies including a 725-m-long IP anomaly with an associated chargeability halo…just 2 km southwest of the mine on an adjoining property, recent sampling of waste rocks at the Big Four showing has returned multiple high-grade Cobalt values up to 3.04% as reported earlier this week…           

5. White Metal Resources (WHM, TSX-V) announced within the last hour that it has started an important channel sampling program on 7 priority targets at its Gunners Cove Gold property in Newfoundland…to date, 120 channel samples have been submitted for lab analysis and a further 300 samples are expected to be taken in the coming weeks…the 7 priority targets feature the Thompson Zone, the East and West Gunners Pit (discovery pit), and the Hidden Pit, also located in the Gunners Pit area…also included in the program are the Stephens Zone, the Totem Zone, and the Bazooka Zone…grab samples taken across strike at the Bazooka Zone area yielded anomalous Gold concentrations over 1000 metres across strike…White Metal technical personnel have designed the channel sampling program as the best way to properly evaluate the Gold tenor and continuity of the various zones, as well as assist in the delineation of targets for future diamond drilling…Gunners Cove has been traced intermittently for 18 km along strike (N-S) and from 1.3 to 3 km in width (E-W)…to date, 15 new areas of Gold mineralization have been discovered of which 7 have been identified as high priority targets…

6. Torino Power Solutions (TPS, CSE), which recently signed an MOU with French-based SICAME, reported this morning that it plans to install its Power Line Monitoring (PLM) sensor technology in mid-September for one of the largest utility companies in the northeastern United States…the installation will be on a problem distribution line in a major city center in Connecticut…the utility, based in New England, controls several regulated subsidiaries offering retail electricity and natural gas service to more than 3 million customers…the PLM is being installed on a pilot basis with terms for purchase after an evaluation period is successfully completed…Torino’s patented microwave cavity sensor technology delivers real-time temperature measurements of overhead powerlines that allow for increased transmission capacity, improved grid resiliency, lower energy costs and bottleneck elimination…            

7. Two new studies from researchers at St. Francis Xavier University in Antigonish, Nova Scotia, and the University of Victoria tracked young cannabis users for 10 years and the results are troubling:  Those who started using the drug early and continued to use it are less healthy and less successful than their peers…just how big a problem is it?…pretty big, considering Canadian youth use more marijuana than any other demographic in the developed world, and they now have a Prime Minister to encourage them…according to Statistics Canada, nearly one-third of young Canadians use cannabis, with the highest use recorded in those between the ages of 15 and 24…meanwhile, drug-impaired driving is on the rise and there is evidence that it’s leading to a rise in car accidents…last month, Public Safety Canada announced that it will provide $919,065 over 3 years to researchers at CAMH to study how cannabis affects drivers ranging in age from 19 to 45…the study, which should be concluded by June 2020, will look at whether THC (the main active ingredient in cannabis) has an impact on a driver’s reaction time, speed, risk-taking behaviour, as well as their ability to anticipate road hazards…it will also examine whether THC affects people differently based on their age and gender…              

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

1. Gold has traded between $1,185 and $1,193 so far today…as of 7:00 am Pacific, bullion is off $6 an ounce at $1,189…Silver has retreated 18 cents to $14.56…Copper and Zinc are relatively unchanged at $2.71 and $1.11, respectively, while Nickel has slipped 10 cents to $6.01…Cobalt remains steady at $29.26…Crude Oil has eased off 37 cents to $67.49…renewed U.S.-China trade concerns are weighing on the commodity sector today…the U.S. Dollar Index, meanwhile, has jumped one-fifth of a point to 95.35…will Jackson Hole turn out to be just a big yawn?…central bankers and economists from around the world will gather in the mountain resort of Jackson Hole, Wyoming, beginning tomorrow for the Federal Reserve Bank of Kansas City’s annual economic symposium…the theme of this year’s conference, “Changing Market Structure and Implications for Monetary Policy,” highlights the challenges to the economy stemming from monopoly power and corporate consolidation, including slower wage growth and capital investment…the conference is also set to cover issues such as the potential for technology to reshape how retailers set prices and the trade-offs between stability and competition in the banking sector…the main event will be a speech by Fed Chairman Jerome Powell tomorrow morning…Stephen Poloz, the governor of the Bank of Canada, is set to participate in a panel discussion Saturday afternoon…

2. The Dow is down slightly, just 18 points, through the first 30 minutes of trading…in Toronto, the TSX is 24 points lower…the year-over-year growth rate in the earnings-per-share estimate for the S&P/TSX Composite Index over the next 4 quarters is running at 19.1%…this is not far off the 22.5% growth rate for the S&P 500 and 23.8% for the NASDAQ…the biggest gainers are materials and energy…the Venture, unchanged at 699 in early trading, has reeled off 5 straight winning sessions and buy pressure (CMF) has jumped to its best levels since January on the daily chart…also technically significant is that the Index has finally pushed above its EMA(8) and EMA(20) exponential moving averages with both EMA’s also now reversing to the upside…Marc Enright-Morin has resigned as President, CEO and Director of A.I.S. Resources (AIS, TSX-V), months later than he should have after a series of corporate and exploration missteps…Chief Operating Officer Phil Thomas has taken over as the new President & CEO…

3. Great Bear Resources (GBR, TSX-V), with only 24 million shares outstanding, soared 46 cents or 64% yesterday to $1.18 after reporting impressive drill results from 2 holes at the Hinge zone of its Dixie Project in the prolific Red Lake district…drill hole DHZ-003 returned 16.35 m of 26.9 g/t Au, including separate sub-intervals of 5.05 m @ 51.4 g/t and 1 m @ 112.6 g/t…drill hole DHZ-004, completed 15 m vertically below DHZ-003, intersected even higher-grade Gold mineralization, returning 7 m of 44.5 g/t, including 2 m @ 143.2 g/t which includes 1 m @ 224 g/t…the newly reported intercepts from the Hinge zone are shallow, occurring above 110 m vertical depth, and are open in all directions…as announced May 23, Great Bear closed a financing and received funds from warrant exercises totalling $2.1 million – the company is fully financed to drill the remaining 5,000 m of the current 10,000-m drill program which commenced in March…CEO Chris Taylor commented, “We recently recognized the potential for a transformative discovery at Great Bear’s Dixie project when we noted structurally controlled high-grade Gold within quartz veins flanked by red-brown hydrothermal biotite alteration.  These features, combined with increased grades and zone thicknesses at fold hinges, are key characteristics of high-grade Gold deposits currently in production in Red Lake. The missing piece at Dixie was whether we would also see Gold enrichment at fold hinges at our project.  We tested the fold hinge concept at shallow depths of approximately 100 vertical metres and successfully generated the high-grade Gold results”…

4. In the Eskay Camp, Aben Resources (ABN, TSX-V) reported this morning that it has intersected mineralization 1.5 km south of the North Boundary Zone in a newly discovered area called the South Boundary Zone…Aben has now completed 4,850 m of drilling in 16 holes at Forrest Kerr this summer…the majority of drilling has taken place at the North Boundary area where high-grade precious and base metal mineralization was discovered in 2017 drill holes as well as in the first reported drill hole of 2018…the ongoing drill program has been expanded and will continue well into the fall…of the 16 holes, 3 holes (1,150 m) have been completed on the southwest side of the valley at the South Boundary target, located 1.5 km south of the strong Gold and Copper mineralization intersected at the North Boundary zone…drilling in the south targeted a prominent soil geochemical anomaly (Au, Cu) that continues for over 2 km…these 3 holes represent the first-ever drill holes collared at this target and have intersected numerous broad horizons of quartz-sulphide veins containing abundant pyrite and copper (chalcopyrite) mineralization…the mineralized veins are hosted within a package of Hazelton Group volcanic rock that displays moderate to strong silica-sericite alteration with a variable chlorite and potassic alteration component…

5. Otis Gold (OOO, TSX-V) has received approval for a significantly enlarged exploration program at its 100%-owned Kilgore Project in Clark county, Idaho…the U.S. Forest Service issued a Decision Notice authorizing a 5-year exploration plan which provides significant flexibility to drill on up to 140 drill sites throughout the Kilgore Project, including step-out and infill drilling at the existing Kilgore deposit and exploration drilling at emerging targets including Gold Ridge, Prospect Ridge and Dog Bone Ridge…Otis President and CEO Craig Lindsay stated, “The approval of our new plan of operation is a major milestone in the development of the Kilgore Project.  Prior to this new permit, we were operating under significant constraints which allowed very limited step-out drilling away from the existing deposit, and no drilling at exploration targets.  The majority of the Kilgore Project has had limited historic drilling outside of the current deposit area, so this new authorization is a very positive development for Otis”…

6. Discovery Metals (DSV, TSX-V), an emerging base metal play in Mexico with a strong cash position, has channel sampled more exceptionally high-grade Zinc (plus Silver and Copper) underground at its San Jose mine, 1 of 3 historic mines comprising its flagship Puerto Rico Project in northern Coahuila state…values from 15 of the best channel samples ranged in grade from 1,554 g/t ZnEq to 2,819 g/t ZnEq over widths as much as 1.3 m…President & CEO Taj Singh commented, “Puerto Rico is really coming into focus, with two of the three historic mines now completely mapped and sampled. These new results from San Jose continue to highlight the very strong and consistent grades at the project.  The sampling program of the third historic mine, the Puerto Rico mine, has just wrapped up and we are awaiting assay results. The focus will now shift to drill-planning and prioritizing targets for drilling in the 2nd half of 2018.  We are also finalizing plans for an airborne magnetic survey at the project which will aid in drill-targeting and will also help to identify high-potential regional targets surrounding the historic mine area”…

7. Chemesis International (CSI, CSE) has entered into a definitive agreement to acquire 80% of Natural Ventures, a seed to sale, medical cannabis company based in Caguas, Puerto Rico..the agreement has been submitted to the Puerto Rico Medical Cannabis Board for approval as per required by its regulatory framework…Chemesis says Natural Ventures represents a “significant opportunity” that will accelerate CSI’s plans to become a leader in both medical and recreational cannabis cultivation and manufacturing…Natural Ventures has been operational since early 2017 and is now expanding to meet its growing patient demand…the company is licensed to cultivate 100,000 sq. ft. of cannabis and has 35,000 sq. ft. of manufacturing floor space for high quality cannabis products…it is currently producing solvent and CO2 based extraction for its Oil-based products, and it also is producing edibles and other cannabis products…

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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 $1,192 and $1,202 so far today…as of 7:00 am Pacific, bullion is up $1 an ounce at $1,197…Silver is off 5 cents at $14.70…Copper is unchanged at $2.72…Nickel has added 6 cents to $6.16…Zinc is a penny higher at $1.11 while Cobalt is steady at $29.26…Crude Oil has jumped $1.36 a barrel to $67.26…the American Petroleum Institute reported late yesterday that U.S. Crude stocks fell last week by 5.2 million barrels, more than 3 times the drop analysts were expecting…the government’s official figures are due within the hour…the U.S. Dollar Index has slipped one-fifth of a point to 94.96…today’s Fed minutes are expected to cement market assumptions for 2 more interest rate increases this year, though this is already largely factored into the Gold price…Gold bugs should be excited by this – net shorts in COMEX Gold contracts rose to a record high in the week ending August 14 at 77,273 contracts, according to data from U.S. Commodity Futures Trading Commission…with weakness now appearing in the U.S. Dollar Index after last week’s surge above 96, the possibility of a near-term significant short squeeze in Gold is very real…

2. This morning’s results from Target (TGZ, NYSE) underscore the strength of U.S. consumers…“There’s no doubt that, like others, we’re currently benefiting from a very strong consumer environment – perhaps the strongest I’ve seen in my career,” Target Chairman and CEO Brian Cornell told analysts on a call this morning…Q2 results beat on earnings, revenue and comparable store sales…just when many investors have written off brick-and-mortar retailers, Target is seeing its biggest jump in foot traffic and best growth in sales at stores open for more than a year, the company said this morning…“We’re seeing a great consumer response, unprecedented traffic.  As we go back and look, we’ve never seen traffic growth like this,” Cornell told CNBC’s “Squawk Box”…

3. The Dow is off slightly through the first 30 minutes of trading…with the S&P 500 Index poised to set a new record today for the longest bull market in U.S. history, there’s no apparent reason it can’t run further…the Fed’s rate increases since 2015 are moving too gradually to hold it back, though President Trump wants rate hikes to be even more gradual…he told Reuters this week that he’s “not thrilled” with the Fed’s rate increases under Chairman Jerome Powell, his own appointee, and that he should be “given some help” by the central bank in his trade battle with China…in Toronto, the TSX is 51 points higher while the Venture, on a 4-session winning streak, is off a point at 691 as of 7:00 am Pacific…Osisko Gold (OSK, TSX) has cut 5.2 m grading 510 g/t Au, including 2,930 g/t Au over 0.90 m (476.8 m to 477.7 m) at its Windfall Lake Project in Quebec…the intersection contains local visible Gold in veinlets and as disseminated grains and 5% pyrite stringers in a crustiform vein hosted in a sericite and fuchsite altered gabbro…the Lynx zone infill hole also featured 2 other Gold zones…Canopy Growth (WEED, TSX), which hit a new all-time high of $52.48 yesterday, announced this morning that it has received amended licenses from Health Canada that increase the size and sophistication of its national footprint…increased production capacity at its Smiths Falls and Mirabel sites will increase Canopy’s ability to reach consumers in every market once recreational sales are permitted in mid-October…

4. Aben Resources (ABN, TSX-V) has closed its previously announced non-brokered private placement financing at 30 cents for aggregate gross proceeds of approximately $4.3 million…the company intends to ramp up its drill program in the North Boundary zone of its Forrest Kerr Project in the northern part of the Eskay Camp following very encouraging results from the first hole of its 2018 program…meanwhile, approximately 4.8 million Aben warrants have been exercised since the beginning of June, raising an additional $721,000 in net proceeds for the company…President and CEO Jim Pettit, stated: “With the closing of this financing, we are pleased to welcome Eric Sprott as a large, strategic shareholder of Aben. The company is well positioned with over $6 million in the treasury to expand the 2018 drill program at its flagship Forrest Kerr Gold Project.  Additional drilling is warranted on the back of the results from the first drill hole in the program at the newly discovered North Boundary zone, which intersected 4 separate high-grade intervals, including 62.4 g/t Au over 6 m within 38.7 g/t Au over 10 m from 114.0 to 124.0 m. Aben has now completed 4,850 m of drilling in 16 holes and is awaiting assay results.  The majority of these holes were drilled at the North Boundary zone, and the company will provide updates as results become available”…

5. Seabridge Gold (SEA, TSX) has commenced drilling the Quartz Rise high-grade Gold target at its 100%-owned Iskut Project in the Eskay Camp…last year’s drill program, the first ever at Quartz Rise, confirmed the presence of a Gold-bearing intermediate sulphidation epithermal system beneath the Quartz Rise lithocap – the company’s target concept…Rudi Fronk, Seabridge Chairman and CEO, commented: “The Quartz Rise target began as a theoretical concept based on our understanding of porphyry Gold-Copper systems at our KSM project.  In 15 months of work, we have learned a great deal and the concept has become a real, data-driven target.  We believe we can now find the source of the high-grade Gold associated with sulphide-bearing quartz veins at Quartz Rise.  Our research continues to uncover compelling reasons why the lithocap may be hiding a significant, near-surface epithermal precious metals system”…last year’s initial drilling intercepted several narrow, discontinuous intervals of high-grade Gold…a subsequent 3-D IP survey together with detailed geological mapping and sampling of available rock faces indicate that the 2017 drilling may not have been in the correct orientation…new results from cliff face sampling show exceptional Gold results that appear to correspond with a favourable IP chargeability anomaly under Quartz Rise…

6. Orca Gold (ORG, TSX-V) announced this morning that it has completed a further 96 drill holes – 15 holes for 3,811 m of diamond core and 81 holes for 12,662 m of reverse circulation – at its Block 14 Gold Project in Sudan…meanwhile, the company’s Feasibility Study is on track for completion in November and is expected to show that Block 14 is one of the best pre-development Gold projects in Africa today…drill results will be released in early September in support of an updated resource calculation for the project…this new resource will also form the basis of the November Feasibility Study….currently, Block 14 features an Indicated resource of 72.7 Mt grading 1.3 g/t for 3 million ounces of Gold, and an Inferred resource of 19.8 Mt grading 1.2 g/t Au for 750,000 ounces of Gold…

7. Trudeau’s “annual recovery fee” (sounds better than a “tax”, doesn’t it?):  Canada’s major producers of cannabis are urging the federal government to suspend the introduction of an $82 million levy on their revenue (it also only helps the black market that Trudeau has insisted will be eliminated through the legalization of marijuana) in the wake of Ontario’s decision to delay the opening of physical stores by nearly 6 months…Health Canada proposed the creation in July of an “annual recovery fee” of 2.3% on the revenue of licensed producers to recoup the costs of regulating the cannabis industry…however, just as the consultation period on the federal fee ended less than 2 weeks ago, Ontario announced it was postponing the opening of physical stores in the province from October 17 to April 1, 2019…Health Canada is predicting it will eventually need to recoup more than $100 million a year from licensed producers to cover regulatory costs, but it remains unclear exactly how much revenue the licensed producers will earn and the exact level of any fee that should be levied on an annual basis…the executive director of the Cannabis Council of Canada said producers are unlikely to make as much money as the government anticipates in the early goings of legalization, which starts October 17…

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