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

1. Gold has traded between $1,433 and $1,444 so far today…as of 7:00 am Pacific, bullion has retreated $6 an ounce to $1,439 after yesterday’s surge…Gold prices rose to their highest in more than 6 years ($1,453), supported by fresh tensions in the Middle East and comments from a top Federal Reserve official (since clarified) that cemented expectations of an interest rate cut at the end of the month…SPDR Gold Trust, the world’s largest Gold-backed ETF, says its holdings rose 1.42% to 814.62 tonnes yesterday from 803.18 tonnes on Wednesday…Silver, up another 17 cents at $16.49, is on track for its best week since July 2016, having gained more than 8%…the long-term Silver chart is pointing to a hugely significant breakout above a multi-year downtrend line…Nickel, on a torrid run, has eased off 15 cents to $6.54…a supply deficit, low stockpiles, solid stainless steel production, events in Indonesia and the likelihood of future strong demand for Nickel in rechargeable batteries are key factors driving this latest move in an ongoing Nickel bull market…headline Nickel stocks in LME-registered warehouses, at 147,942 tonnes, have slid from more than 450,000 tonnes in 2016 and are the lowest in 6-1/2 years…adding to worries over supply, between 50% and 79% of LME Nickel warrants are held by 1 entity…Copper has jumped 5 cents to $2.76, a fresh 2-month high, while and Zinc is down a penny at $1.10…Crude Oil has added 27 cents to $55.57…Global Oil prices, which have been active all week amid mixed signals on demand, rising Middle East tensions and supply disruptions in the Gulf of Mexico, got a boost following a statement from the U.S. Navy that it had shot down and destroyed an Iranian drone that had threatened an American vessel in the Strait of Hormuz…Iran, not surprisingly, denies that ones of its drones was shot down…the U.S. Dollar Index has rounded one-quarter of a point to 97.05…a large Chinese conglomerate has fallen deeper into a debt crisis, after it said it won’t repay $500 million in U.S. dollar bonds coming due next month…cash-strapped China Minsheng Investment Group said today it will not be able to repay the principal amount or interest on the 3-year bonds that mature on August 2, marking one of the largest Chinese defaults on a U.S. dollar bond this year…meanwhile, companies are moving their supply chains out of China instead of waiting for a resolution of the trade battle between Washington and Beijing, BlackRock Chairman and CEO Larry Fink told CNBC this morning…“We’re hearing from CEOs that more and more supply chains are moving out of China right now.  People are not waiting, companies are not waiting to see what the outcome is”…President Trump understands the power of leverage and that’s what he has with China right now, to America’s advantage…

2. Stocks and commodities were in negative territory yesterday until New York Fed President John Williams said the central bank needed to “act quickly” when the economy was slowing and rates were low, adding in a speech that it is “better to take preventative measures than wait for disaster to unfold”…those words sent Gold up sharply and the dollar down, but a spokesperson later said he was drawing from research, not hinting at what may happen at the upcoming FOMC meeting July 30–31…“This was an academic speech on 20 years of research.  It was not about potential policy actions at the upcoming FOMC meeting,” a spokesperson for the New York Federal Reserve said in a statement…after Williams’ earlier remarks, market expectations for a 50 basis point rate cut leaped to about 59%, according to CME’s Fedwatch tool…prior to his speech, predictions for a half-point cut had hovered between 20% and 30%…

3. October’s elections are going to be critical to Canada’s resource sector…Kevin O’Leary, star of Shark Tank and Chairman of O’Shares ETFs, told Kitco News in an interview that Canada’s future hinges on drastic changes that need to happen in Parliament…“The country is a disaster,” O’Leary, said, noting that the Trudeau government has failed to attract investment capital and stimulate the economy…Canadians must make a change in the government now, O’Leary warned, or the country’s future will be dire…“It is so bad that if we got another 4 years of this, I think you can take Canada down to probably zero growth rate”…the issue lies with incompetence in government, he noted…“I’d like to get rid of the anti-business tonality to our country and replace it with people that want to create jobs in Canada, that want to attract capital.  So my bet is, the most likely scenario is a 50/50, in other words, Trudeau loses his majority mandate.  He is a young man who had no managerial history.  I’ll let you, as the voter, decide what the best alternative is but I’m telling you right now, anything’s better than what we’ve got”…what’s scary is that according to a recent survey by Nanos Research Group for Bloomberg News, 31% of respondents say they trust Trudeau most to promote economic growth in Canada, compared with 26% for Conservative Leader Andrew Scheer…the latter will need to up his game considerably if needed change is going to come to the federal level this October…

4. Silvercrest Metals (SIL, TSX), up sharply again this morning and a great stock to hold for the coming big run in Silver, has received approval for its environmental impact statement (MIA or operating permit) for the development of its Las Chispas Project in the state of Sonora, Mexico…the MIA provides the company with conditional approval to construct a 3,000-tonne-per-day (maximum capacity) underground mine and a conventional processing facility with subsequent dry stack tailings and underground backfill for Las Chispas…Silvercrest CEO Eric Fier commented, “The approval of the MIA is a key milestone for Las Chispas.  The MIA should enable Silvercrest to have all major operating permits in hand ahead of our scheduled construction timeline.  With the anticipated completion of a successful feasibility study in H1 2020, the company is well positioned to project finance and begin construction activities in H2 2020.  We are extremely pleased with the progress that our team has made in the 3.5 years that we’ve been exploring at Las Chispas.  We continue to work hard to simultaneously derisk and add value to the project in a cost-efficient manner”…Silvercrest has 14 active drill rigs on site which continue to test, expand and upgrade the high-grade resource delineated to date at Las Chispas…the company is also conducting further underground grade reconciliation on the Babicanora vein with additional drilling and underground work to better understand the positive grade difference between recent underground vein sample results and the resource model…

5. The price of Rhodium, one of the Platinum group rare metals used to curb harmful emissions from vehicle engines, has rocketed to its highest since 2008 as tightening environmental regulation compels auto makers to buy more just as supply looks set to stagnate…Rhodium has leaped from $615 an ounce in mid-2016 to $3,565 an ounce this month, shooting up by more than $1,000 since mid-February alone…“Within this year we might well see $4,000,” said Mitsubishi analyst Jonathan Butler, adding that rising demand would likely tip the market into deficit…“That’s not to say we wouldn’t see a pullback potentially to $3,000 – this is a volatile metal – but it does have good long-term prospects,” he said…Rhodium is used alongside its sister metals Platinum and Palladium in vehicle exhaust systems to neutralize pollutants…but its price has raced ahead of its peers since 2016, when commodities including precious metals hit multi-year lows…this is because Rhodium is the most effective at tackling nitrogen oxides (NOx), whose reduction is increasingly demanded by regulators…auto makers account for around 85% of Rhodium demand…

6. The Dow is up 83 points through the first 30 minutes of trading…Microsoft (MSFT, NASDAQ) shares have hit a new record high after the tech giant posted quarterly earnings and revenue that topped analysts’ expectations…in Toronto, the TSX has added 61 points while the Venture is speeding toward a breakout, up 5 points at 593…Crystal Lake Mining (CLM, TSX-V), leveraging the Eskay Camp’s newest Copper-Gold-rich discovery, continues to gain momentum, pushing above both its 50 and 200-day moving averages (SMA’s) in early trading…CLM is up 2 cents at 36 cents on strong volume as of 7:00 am Pacific…maiden diamond drilling commences at Burgundy Ridge next week with bullseye targets after last October’s RC drilling and this month’s extensive sampling and hyperspectral vectoring…it’s amazing Burgundy Ridge has never been diamond drilled before, but that’s only because the Newmont Lake Project (like Nickel Mountain) was in the wrong hands for so many years…veteran prospectors/geologists say the surface alteration and mineralization at Burgundy is some of the best they have ever seen in the entire Golden Triangle (3-m chip sample returned 5.1% Cu, 28.5 g/t Au and 90 g/t Ag)…Eskay Camp neighbor Garibaldi Resources (GGI, TSX-V) has touched a fresh 9-month high, up 12 cents at $1.81 as drilling continues at Nickel Mountain with the possibility of first results very soon…a “Golden Cross” is now unfolding in GGI as its 50-day SMA crosses above its 200-day in a similar pattern to late July/early August 2017…Atlantic Gold (AGB, TSX) has completed the previously announced plan of arrangement under the Business Corporations Act (British Columbia) whereby Australia’s St Barbara Ltd. (SBM, ASX) has acquired all of the issued and outstanding common shares of Atlantic for $2.90 in cash per Atlantic share, plus 0.05 of a share of Artemis Gold for each Atlantic common share…with the takeover now complete, Atlantic will be delisted from the Venture at the close of trading Monday…here’s a twist in the cannabis sector – The Flowr Corp. (FLWR, TSX-V) has decided to withdraw its recently announced public offering “due to prevailing market conditions, which were not conducive to the completion of the offering on terms that would be in the best interest of Flowr’s current shareholders.  Flowr will continue to monitor market conditions as it evaluates options to drive long-term growth”…the stock has responded well to the news, climbing 85 cents to $4.85…scandal-plagued CannTrust is off 14 cents in early trading at $3.70…Mackie Research Capital analyst Greg McLeish says, “We believe that Health Canada must make an example out of CannTrust.  If Health Canada does not come down hard on the company, it will set a bad precedent for other ‘law abiding’ industry participants”…McLeish stopped publishing research on CannTrust last Monday, saying “management has lost credibility”…he says the company’s ability to grow pot in B.C. is now in doubt, as it still needs Health Canada approvals…

7. Eric Sprott is pouring another $3 million into Tudor Gold (TUD, TSX-V) at 45 cents, as announced this morning…Tudor commenced drilling at its Goldstorm target in the Eskay Camp last month…yesterday, Sprott jumped into Discovery Metals (DSV, TSX-V) for the first time…Discovery, a growing Silver play, is doing a $9 million financing at 23 cents per share, with most of it being taken by Sprott…Discovery will issue 23.2 million common shares at 23 cents per share and 15.9 million subscription receipts at 23 cents per subscription receipt…Sprott is taking 17.5 million of the common shares ($4 million) and 15.9 million subscription receipts ($3.65 million)…if those subscription receipts are converted, he’ll maintain his 19.9% interest in Discovery following the completion of the company’s acquisition of Levon Resources…Taj Singh, President and CEO of Discovery commented, “We are excited to have Mr. Sprott’s support as we enter into our next phase of growth.  His investment ensures Discovery is well funded to pursue its exploration plans for its Coahuila projects (Mexico) and also for the Cordero Project, which will be added to Discovery’s portfolio upon closing of the Levon transaction.  For Discovery and Levon shareholders, Mr. Sprott’s investment is a strong endorsement of the combined company’s future business plans”…for more regarding Discovery, refer to the July 3 edition of Daniel’s Den…

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1. Gold has traded between $1,414 and $1,424 so far today…as of 7:00 am Pacific, bullion has retreated $9 an ounce to $1,417…global Gold ETFs registered their biggest daily inflow in almost 4 weeks yesterday, according to Commerzbank, as holdings rose by 7.4 tonnes…Silver, outrunning Gold this week, has added another 8 cents to $16.02…this is a resistance level on the short-term chart, so it’s possible Silver may briefly digest its gains before vigorously pushing through $16 toward $17…the long-term Silver chart is pointing to a hugely significant breakout above a multi-year downtrend line…Nickel continues its winning ways, up another 27 cents at $6.74…Copper and Zinc are both steady at $2.70 and $1.12, respectively…Crude Oil has eased off 40 cents to $56.38 despite news that Iranian forces have seized a foreign tanker, according to the rogue nation’s state news agency…the Islamic Revolutionary Guard Corps took possession of a vessel carrying what they said was 1 million liters of smuggled fuel near the island of Larak in the Persian Gulf on Sunday…further details about the vessel, such as its nationality, weren’t disclosed…

2. Nickel is enlivening an otherwise torpid summer for the base metals complex as it’s on a bull charge in both London and Shanghai with the strong possibility of new multi-year highs this summer…Chinese speculators are surging into the Shanghai Futures Exchange Nickel contract…the trigger for this collective exuberance was Indonesia’s reaffirmation that it will stop allowing the export of unprocessed Nickel ore in 2022…Indonesia’s mining ministry forecasts that there will be 22 Nickel smelters operating in the country by that stage…that may be on the optimistic side but Indonesia’s policy of pushing miners towards downstream processing is undoubtedly working…all this evolving processing capacity will naturally reduce the amount of ore available for export by the time the ban comes into full force in 2022 (assuming, of course, the Indonesian government doesn’t change its mind again at that stage)…we’ll have more in a Nickel update for subscribers later today including a fresh chart that points to where Nickel prices are likely headed…demand for high quality Nickel feed is going to be more intense than ever in the years ahead due to EV’s and declining Tier 1 reserves…that’s why projects such as Garibaldi Resources‘ (GGI, TSX-V) Nickel Mountain, arguably featuring the richest magmatic Nickel massive sulphides ever found on the planet, are so critical…the hunger for high quality Nickel feed in the years ahead is going to be greater than ever…

3. TD Securities says expectations for central bankers to loosen monetary policy, coupled with worries about corporate earnings amid global trade tensions, are supportive influences for Gold…“With dovish central bank expectations baked into the Gold cake, CTAs [Commodity Trading Advisers] remain comfortable with their position as prices are likely to ebb and flow within the range near $1,400/oz on equity performance, Fedspeak and economic data.  Indeed, with earnings season kicking off, any contraction in corporate profits would represent a second consecutive quarter of contraction and the first earnings recession since 2016″…worries that the trade battles have “taken a bite into corporate earnings” could ding stocks, helping Gold bounce higher, TDS added…

4. Treasury Secretary Steven Mnuchin told CNBC this morning that he and U.S. Trade Representative Robert Lighthizer will talk with Chinese counterparts later in the day but “complicated issues” remain in trade talks…“This will be the second conversation we’ve had.  There has been conversation at the staff level,” Mnuchin said in a “Squawk Box” interview…“We’re working under the direction of President Trump and President Xi from the meeting in Osaka and we’ll see where we get”…Mnuchin added that if the call went well, he would expect in-person meetings to take place…China and the U.S. agreed last month at the G-20 summit in Osaka to restart trade talks and avoid the implementation of additional tariffs…the world’s largest economies have been engaged in a trade spat for more than a year, keeping a cloud of uncertainty over the global economic outlook…The Wall Street Journal reported that U.S.-China trade talks have been at a standstill as the Trump administration weighs China’s demands to ease restrictions on telecom giant Huawei…Mnuchin said Huawei was not a sticking point on the negotiations, but “there are just a lot of complicated issues.  We were very far along [in] the deal.  We were disappointed that we went backwards on certain issues.  But if we can get a good deal, this is a great opportunity for U.S. companies and for U.S. workers”…

5. Eric Sprott jumps into Discovery Metals (DSV, TSX-V)…Discovery, a growing Silver play, has announced a $9 million financing at 23 cents per share, with most of it being taken by Eric Sprott…Discovery will issue 23.2 million common shares at 23 cents per share and 15.9 million subscription receipts at 23 cents per subscription receipt…Sprott is taking 17.5 million of the common shares ($4 million) and 15.9 million subscription receipts ($3.65 million)…if those subscription receipts are converted, he’ll maintain his 19.9% interest in Discovery following the completion of the company’s acquisition of Levon Resources…Taj Singh, President and CEO of Discovery commented, “We are excited to have Mr. Sprott’s support as we enter into our next phase of growth.  His investment ensures Discovery is well funded to pursue its exploration plans for its Coahuila projects (Mexico) and also for the Cordero Project, which will be added to Discovery’s portfolio upon closing of the Levon transaction.  For Discovery and Levon shareholders, Mr. Sprott’s investment is a strong endorsement of the combined company’s future business plans”…for more regarding Discovery, refer to the July 3 edition of Daniel’s Den…

6. The Dow is down for the 3rd straight session, off 26 points through the first 30 minutes of trading…in Toronto, the TSX  is unchanged while the Venture has slipped 3 points on more softness in cannabis stocks…this week’s winners keep on winning…GT Gold (GTT, TSX-V) is on the verge of an important breakout through $1 with the stock steady at 96 cents as of 7:00 am Pacific…yesterday’s first drill results of the 2019 season at Saddle North were outstanding and continue to point toward a potential world class Copper-Gold porphyry system…in the Eskay Camp, a new discovery is likely to gain considerable traction in the days ahead as crews mobilize for drilling at Crystal Lake Mining’s (CLM, TSX-V) Burgundy Ridge which veteran prospectors say hosts some of the best alteration and mineralization they’ve ever seen at surface in the entire Golden Triangle…shallow RC drilling late last year combined with fresh clues from surface work this month suggest Burgundy Ridge could quickly turn into a major Copper-Gold-rich system…CLM jumped 4 cents yesterday on 1.6 million shares and is up another penny at 32 cents in early trading…besides CLM and Garibaldi, Metallis Resources (MTS, TSX-V) is starting to pick up steam in the Eskay Camp…Metallis crews are on the ground at Kirkham in preparation for drilling…Brixton Metals (BBB, TSX-V), which reported excellent results from its Silver-Gold rich Thorn Project on Monday, has gained 1.5 cents to 24 cents on strong volume in early trading…keep an eye on 2 other Golden Triangle plays, Dolly Varden Silver (DV, TSX-V) and Lawrence Roulston’s Auramex Resource (AUX, TSX-V)…Dolly Varden is in the midst of drilling while Auramex is getting ready to drill next month…

7. Barrick Gold (ABX, TSX; GOLD, NYSE) is flat in early trading after announcing preliminary 2nd quarter sales of 1.37 million ounces of Gold and 96 million pounds of Copper, as well as preliminary Q2 production of 1.35 million ounces of Gold and 97 million pounds of Copper…Q2 Gold costs per ounce are expected to be marginally higher than Q1 2019…the average market price for Gold in the 2nd quarter was $1,309 per ounce, while the average market price for Copper in the 2nd quarter was $2.77 per pound…preliminary Q2 Gold sales and production are in line with the solid base set in the 1st quarter and support annual production at the upper end of the 2019 group guidance range, driven by strong performances from Loulo-Gounkoto and Veladero offset by lower production at Barrick Nevada, as guided, and production interruptions at Pueblo Viejo…this is before including the impact of the Nevada Gold Mines joint venture transaction that was successfully completed on July 1 and is expected to positively impact the production outlook for the year…

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1. Gold has traded between $1,399 and $1,413 so far today…as of 7:00 am Pacific, bullion at its high of the morning, up $7 an ounce at $1,413…as BMR’s TA expert has been predicting, Silver prices are breaking out big-time in what’s expected to be one of the metal’s most important moves in many years…ETFs have also been posting heavy inflows in recent weeks and their buying will likely continue to accelerate…Bart Melek, head of commodity strategy at TD Securities, says investors are starting to recognize the value in the Silver market…“A lot of investors are starting to think that the Gold market has exhausted a lot of its momentum, but Silver still has a lot of room to move higher.  Investors are starting to recognize value in Silver”…Silver has jumped another 25 cents to $15.70 as it confirms a breakout above Fib. resistance in the $15.40’s on the short-term chart…more significantly, Silver is also starting to break out on its 25-year monthly chart that we closely track…we’ll have a subscriber update on that later today…Nickel continues its strong run, up 12 cents at $6.40…Copper and Zinc are both steady at $2.69 and $1.12, respectively…Crude Oil is up 32 cents at $57.94 while the U.S. Dollar Index has added one-tenth of a point to 97.30…

2. Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, have contributed to a stunning drop in foreign demand for American homes…the dollar volume of homes purchased by foreign buyers from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors…the decline was due to a drop in the number and average price of purchases…foreigners bought 183,100 properties with a total value of about $77.9 billion, down from 266,800 valued at $121 billion in the previous period…they paid a median price of $280,600,down from $290,400 the previous year…

3. Bitcoin dropped nearly 13% yesterday as U.S. lawmakers questioned Facebook (FB, NASDAQ) over its future crypto plans, intensifying scrutiny over digital coins…Bitcoin is trying to stabilize around $9,500 (U.S.) this morning after breaching the $13,000 mark last week…the cryptocurrency tumbled as the Senate Banking Committee questioned Facebook executive David Marcus about the tech giant’s plans to launch its own digital currency called Libra in 2020…Facebook’s plan has raised some serious concerns, with Senator Sherrod Brown (D-Ohio) stating that the company “through scandal after scandal [showed] that it doesn’t deserve our trust” and that “we’d be crazy to give them a chance to let them experiment with people’s bank accounts”…distrust of Facebook was a theme voiced by others as well, including Republican Senator Martha McSally from Arizona…“I don’t trust you guys…instead of cleaning up your house you are launching into a new business model,” McSally said…initially, Bitcoin rallied on the news that Facebook is launching its own cryptocurrency with Bitcoin fans projecting wider global acceptance…but, soon after the announcement in June, Facebook was back in the hot seat…Facebook’s Marcus, former President of PayPal, tried to reassure the U.S. Senators, saying that Libra will not be launched until all the regulatory concerns have been addressed…“We know we need to take the time to get this right,” Marcus said…“The way we’ve built this is to separate social and financial data because we’ve heard loud and clear that they don’t want those two types of data streams connected, so this is the way the system is designed”…

4. GT Gold (GTT, TSX-V) has drilled 500 m grading 0.91 g/t Au, 0.55% Cu and 1.34 g/t Ag at Saddle North (1.23% CuEq and 1.67 g/t AuEq over 500 m from 206 to 705 m)…that hole, TTD112, and 5 others released this morning, demonstrate that the high-grades identified in hole TTD108 last year continue up-dip to surface at this world class porphyry discovery in Northwest B.C.’s Red Chris district…holes TTD112 and TTD116 (0.93 g/t AuEq over 431 m from 17 m to 447 m) also show that a direct link of excellent and increasing grades identified in hole TTD108 exists between the near-surface mineralization through moderate depths to the deeper and generally highest grade mineralization at Saddle North…“This season’s drilling has started off very successfully,” remarked Charlie Greig, GT Gold’s VP Exploration…“We have shown that high-grade Cu-Au mineralization occurs closer to surface than was previously known and have linked these zones with the deep and very high-grade Cu-Au mineralization intersected last year.  Our phase one program continues to bring into clearer focus the potentially significant economics of our Saddle North discovery”…GTT is up 4 cents at 94 cents as of 7:00 am Pacific and appears to be on track for a near-term breakout through the 90-cent to $1 resistance band…

5. Newest discovery in the Eskay Camp:  Crystal Lake Mining (CLM, TSX-V) has roared to life, with the company reporting a major expansion in the surface footprint of its very promising early stage Burgundy Ridge discovery at its Newmont Lake Project…crews mobilize next week for first-ever diamond drilling…4 shallow RC test holes during winter conditions last fall returned broad intervals of Copper-Gold rich mineralization in every hole including 2.6% Cu at a depth of approximately 120 m near the bottom of the last hole…Burgundy Ridge, initially discovered 6 years ago (a 3-m chip sample returned 5.1% Cu, 28.5 g/t Au and 89.7 g/t Ag) thanks to a receding glacier, features some of the most striking alteration and mineralization seen at surface anywhere in the Golden Triangle, according to multiple veteran prospectors and geologists…mapping, prospecting, sampling and hyperspectral analysis over the past 2 weeks has outlined an even larger target area (2 km x 2.5 km) wide open for further expansion…multiple “hot spots” will be the focus of initial drilling, including a significant new surface discovery 600 m west-southwest of October’s drilling discovery (a k-spar epidote altered and brecciated intrusion containing disseminated Copper sulphides in a high temperature alteration zone) in the direction of a very prominent untested gossan approximately 7.5 km away along trend…potentially, the system could be strengthening toward the west-southwest…Dr. Peter Lightfoot, Crystal Lake Technical Advisor who was instrumental in the discovery of the Golden Triangle’s first magmatic Nickel-Copper-rich massive sulphide system at Nickel Mountain, commented: “The data increasingly suggest that there is large-scale development at Burgundy Ridge of alkaline porphyritic stockwork vein systems with breccias.  These are very messy alkalic porphyries – exactly the right type of rocks – and they are associated with carbonate-bearing country rocks.  Tight correlations between Copper and Silver, Copper and Gold, and Copper and Cobalt are indicative of significant and coherent underlying mineralization processes at Burgundy Ridge, driven in part by an impressive fluid highway”…CLM has jumped 4 cents to 31 cents through the first 30 minutes of trading…a powerful “Wave 5” move to new highs is interpreted to be unfolding on CLM’s long-term chart…

6. The Dow is off 2 points in early trading…in Toronto, the TSX has climbed 12 points while the Venture is off 1 point at 581 but should get a lift today from higher metal prices…Silvercrest Metals (SIL, TSX) has jumped 31 cents to $5.45 as of 7:00 am Pacific…other Silver stocks we’re tracking are also pushing higher or are on the cusp of breaking out…First Majestic (FR, TSX) is up 36 cents at $11.55 while GoGold (GGD, TSX) has added 1.5 cents to 43 cents…meanwhile, Canada Cobalt (CCW, TSX-V), which owns the high-grade Castle Silver-Cobalt mine in Northern Ontario, is on the verge of receiving an amendment to its advanced exploration permit in order to process high-grade Silver tailings in a unique and cost-effective manner through spiral concentrators underground on the 1st level of the mine…CCW is on the cusp of a breakout above its short-term downtrend line and is steady at 27 cents in early trading…Adventus Mining (ADZN, TSX-V) has arranged a $10 million bought deal financing at $1.00 per share to advance its VMS deposit in Ecuador, a JV with Salazar Resources (SRL, TSX-V)…

7. McEwen Mining (MUX, TSX) reports consolidated production for Q2 2019 of 36,216 Gold ounces and 850,525 Silver ounces, or 45,881 Gold equivalent ounces (GEOs) using the average Gold:Silver price ratio during Q2 of 88:1…the company’s San Jose and El Gallo mines, which accounted for 62% of its total Gold and Silver production in Q2, exceeded its targets…the company’s other 2 operations, the Gold Bar and Black Fox mines, performed better than in Q1, but below forecast…looking ahead, McEwen’s production guidance for the year 2019 has been reduced by 6% for Gold and is unchanged for Silver…on a Gold equivalent basis, Silver is forecast to represent 20% of the company’s 2019 consolidated production of 190,000 GEOs…MUX is up 2 pennies at $2.26 as the stock tries to gain traction above its 200-day moving average (SMA)…

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