BullMarketRun.ca

Check back later this morning for today’s Mornings Musings.

1. The ECB has announced a continuation of the bank’s generous asset-buying program, although a reduced pace of purchases is set to start from April next year…current asset purchases of 80 billion euros ($86 billion U.S.) a month were due to end in March 2017, but will now be extended until at least December 2017 and will be cut to 60 billion euros a month beginning in April…benchmark interest rates were left unchanged…ECB President Mario Draghi says “the risk of deflation has largely disappeared” but the ECB’s economists see a slower pickup in inflation than in September, with consumer prices seen rising by 1.5% in 2018 as against an earlier projection of 1.6%…importantly, the 1.7% rate of inflation forecast for 2019 is below the central bank’s target, which helps explain why the bond buying program has been extended…

2. Silver has a habit of leading Gold in one direction or the other, and yesterday it climbed to a 3-week high thanks in part to a large inflow into Silver-backed ETFs…Silver gained by roughly 3 x as much as Gold for a time yesterday, driving the Gold-Silver ratio below 69…unlike Gold, Silver ETFs saw inflows of 76 tonnes yesterday…Silver is off 9 cents at $17.00 as of 7:00 am Pacific while Gold has eased slightly to $1,170 with strength in the U.S. dollar…

3. The Venture is aiming for its 9th winning session out of 11 as a new uptrend begins to take shape on the charts (an updated look at the Venture in today’s Morning Musings)…the key resistance band is 770 to 784…once that is overcome, the Index could accelerate sharply to the upside…

4. Canadian Zeolite (CNZ, TSX-V) has reached an agreement with Isodiol, a Southern California-based hemp cannabidiol (CBD) innovator, to research and develop CBD and Zeolite-infused products and supplements intended for human and animal consumption…this also has significant implications for the branding of Zeolite, which can only help CNZ as the benefits of Zeolite and the many applications of it are explained to a much broader audience…CNZ is off 3 pennies at $1.77 through the first 30 minutes of trading…

5. Altai Resources (ATI, TSX-V) is one of the Venture volume leaders in early trading, up 2.5 cents at 9.5 cents as of 7:00 am Pacific…the stock’s 500-day moving average (SMA) has reversed to the upside, ending a long decline…

6. An interesting drill result from Tower Resources (TWR, TSX-V) this morning with the stock set to begin trading at 7:30 am Pacific following a trading halt…assays from a 3,400-m program at its flagship Rabbit North Project near Kamloops were highlighted by a 200-m intersection in drill hole RN-008 grading 0.30% Cu and 0.15 g/t Au (0.42% CuEq) including a 72-m interval of 0.47% Cu and 0.2 g/t Au (0.63% CuEq)…that result is consistent with Copper grades at operating mines in the region and will need to be followed up with an extensive new program…Tower expects the remainder of results by the end of the month…TWR closed yesterday at resistance, 16 cents…next resistance is the yearly high at 20.5 cents…geologically speaking, RN-008 is a significant hole but how much it’ll immediately excite the market remains to be seen – the trading halt will likely prove to have been more exciting for TWR investors…

7. The first 2 drill holes targeted within the “Rivage Gap” have located new high-grade Gold mineralization at Bonterra Gold’s (BTR, TSX-V) Gladiator Project in northern Quebec, resulting in the addition of over 500 m of strike length to the Gladiator deposit…drill hole BA-16–40 intersected 64.3 g/t over 2 m at 130 m below surface while drill hole BA-16–42 cut 8.7 g/t over 3 m at over 300 m below surface…the “Rivage Gap”, with an approximate length of 500 m, is an untested section beyond the western extension of the Gladiator Gold zone…the successful intersection of Gold mineralization in the Rivage Gap provides Bonterra confirmation that the strike length of the Gladiator deposit has now been increased to over 1.2 km from its previously drilled length of 700 m and joins the Rivage Zone with the main Gladiator Zone…