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

1. Gold suddenly surged to a 5-month high last night as President Trump ordered a targeted military strike against a Syrian air base with 59 Tomahawk missiles…the strike was in response to the Assad regime once again using chemical weapons against its own people, including children, earlier this week…since a bloody civil war erupted in that country in 2011, Assad was able to act with impunity during the Obama years and also enjoys the support and protection from ally Russia…Syria is a “powder keg” with multiple countries and radical Islamist terrorist groups active on the ground, including 1,000 American troops, so it’s no surprise that Gold has reacted bullishly to Trump’s Tomahawks that were meant to send a message to not only Assad but Russia, China and North Korea…Russia and Iran, not surprisingly, have condemned the attack…

2. As of 7:00 am Pacific, bullion is up $14 an ounce at $1,266, attracting fresh interest after this morning’s U.S. jobs report came in well below expectations (98,000 vs. the consensus estimate of 180,000)…that news briefly took Gold to a high of $1,272…Silver has added 9 cents to $18.33 while Crude Oil has responded to the flair-up in Middle East tensions by adding 18 cents to $51.88, though it’s off its highs of the day…traders will be closely monitoring what comes out of the second and final day of meetings between President Trump and Chinese President Xi Jinping in Florida…it appears that right after a dinner meeting with Trump, Xi returned to his quarters last night having just learned of the U.S. military strike against Syria…he likely got the message that China needs to reign in North Korea…

3. The U.S. 10-Year Treasury Yield briefly hit its lowest level since November this morning (Gold bullish) following the jobs report…the disappointing headline numbers could be just a one-off due to weather-related issues – next month’s report should confirm if that’s the case…the jobless rate fell two-tenths of a percentage point last month to 4.5%, the lowest level since May 2007, while the average hourly paycheck of private-sector workers grew 5 cents from a month earlier and 2.7% from a year earlier…that suggests wages continue to rise a bit more quickly than earlier in the recovery, another sign of a tightening labor market…

4. The Venture is attempting to bust through a key resistance band between 817 and 824…higher Gold and Oil prices help put the wind at the Venture’s back…the Index has climbed 5 points to 827 as of 7:00 am Pacific…the TSX and Dow are both down slightly in early trading…

5. An extensive analysis by BMR has revealed that with more than 40,000 m of fresh drilling data (including historical) to be factored into a new resource estimate for Granada Gold’s (GGM, TSX-V) LONG Bars Zone, there’s a strong likelihood that the soon-to-be announced updated global resource at this Cadillac Trend deposit will reach a staggering 5 million ounces…this would represent an approximate doubling of the maiden resource from late 2012…one key area contributing to the expansion is north of the existing resource and historic pits where a high-grade discovery has been made at depth…this information may help explain DRA Global’s interest in the project as the vertically integrated engineering firm is currently finalizing technical and financial proposals for GGM that could dramatically reshape the mining dynamics at Granada…just one such example is a proposed 12,000 tonne-per-day pre-concentration ore sorting facility that would “upgrade” material for downstream processing, potentially sharply reducing costs per tonne…with the stock at just 6.5 cents and a breakout in Gold, the risk-reward ratio is exceptional as we haven’t seen an opportunity like this in GGM since late 2015/early 2016 when the stock was in the midst of a 10-fold move to the upside…GGM is unchanged at 6.5 cents in early trading…special video presentation outlining our research early next week…

6. Almadex Minerals (AMZ, TSX-V) is gaining technical momentum after releasing impressive results earlier this week from the first hole of its 2017 drill program at El Norte in Mexico…hole EC-17–018, which returned 342 m grading 0.60 g/t Au and 0.27% Cu (including 115 m @ 1.33 g/t Au and 0.48% Cu), represents a significant up dip step-out and intercepted mineralization up to 200 m vertically above that in hole EC-16–010…AMZ is up 4 pennies at $1.25 as of 7:00 am Pacific…

7. Assay results are pending for 2 step-out holes at EnGold Mines’ (EGM, TSX-V) high-grade skarn-type discovery at its 100%-owned Lac La Hache Property in British Columbia’s Cariboo region…this early-stage discovery became increasingly interesting Wednesday on news of strong gravity signatures over a broad area around hole G16–01 (26.6 m grading 1.76% Cu)…the most significant of the new anomalies is located approximately 2.5 km northwest of G16–01 and returned values exceeding 3 milligals, which is 3 times higher than values reported to date, and is approximately 1,000 m by 500 m at the 2.5-milligal level and higher…another strong gravity anomaly has been identified 1.2 km southeast of the discovery hole…this could imply multiple deposits…meanwhile, both step-out holes (50 m to the east and 50 m to the west) were reported to be as visually impressive as G16–01…watch closely…EGM is off 2 pennies at 52 cents as of 7:00 am Pacific…updated chart for EGM in today’s Morning Musings…

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