BullMarketRun.ca

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

1. Spot Gold has traded between $1,686 and $1,698 so far today…as of 7:00 am Pacific the yellow metal is up $7 an ounce at $1,691, attempting to bounce back in the wake of its biggest weekly plunge in nearly 3 months…Gold prices have gained more than 11% so far this year as central banks across the globe cut interest rates and unveiled massive stimulus to support the coronavirus-damaged economy…however, they have shed about 4% since hitting a 7-year peak in May amid hopes for a quicker-than-expected economic recovery…the Fed meets again tomorrow and Wednesday, though investors have stopped pricing in the possibility that the Fed will adopt negative interest rates…Spot Silver has gained 12 cents to $17.52…nearest support is in the $17.30’s…Palladium has climbed $63 to $1,960…base metals remain firm…Copper is up a penny at $2.56…Nickel has added 6 cents to $5.87 while Zinc is a penny higher at 92 cents…Crude Oil has eased off 70 cents a barrel to $38.85 while the U.S. Dollar Index, under continued technical pressure, has slipped one-quarter of a point to 96.67…U.S. Crude production has fallen from a record 13.1 million bpd in March to 11.2 million bpd, according to the U.S. Energy Information Administration…car sales in China rose for the first time in almost a year last month, evidence that the world’s largest auto market is rebounding from the coronavirus crisis and trade tensions with the United States…retail sales of cars, SUVs and multiple-purpose vehicles increased 1.9% from a year earlier to 1.64 million units in May, the China Passenger Car Association said today…that’s the first gain since June 2019…nearly 300 New York police officers have been injured amid the ongoing protests following George Floyd’s death, it was reported over the weekend…the 292 figure provided by police gave some initial context to the fallout of how the protests, lasting over a week, have impacted law enforcement – which has faced threats of violence, defunding and harassment in the streets…messages like “F–k the police”, “acab” (all cops are b—ards) and descriptions of cops as “pigs” have been painted across buildings and monuments in U.S. cities, and held up on protesters’ signs…meanwhile, far left City Council members in Minneapolis yesterday announced a veto-proof push to disband their police department, ramping up a major conflict inside their city…supporters of the move told Fox News, “We recognize that we don’t have all the answers about what a police-free future looks like, but our community does. We’re committing to engaging with every willing community member in the city of Minneapolis over the next year to identify what safety looks like for you”…another experiment from the Loony Left that won’t end well, including at the ballot box in November…meanwhile, the fabulous jobs numbers released on Friday happily confirm that America is starting to reopen for business across the country…the protests don’t help, however, and there are still a handful of states where lockdown orders are expected to remain in place for weeks to come…with very few exceptions, the cities and states that have ordered businesses to remain comatose and their millions of workers to go without paychecks are blue, blue, blue…this list includes New York, New Jersey, Michigan, Pennsylvania, Illinois, California and Oregon…they all have Democratic governors…

2. OPEC and its Oil producing allies agreed over the weekend to extend the group’s historic production cut for an additional month in an ongoing effort to balance the global Oil market…the 1-month extension, though, fell short of market hopes for a 3-month deal…July’s production cut will be 9.6 million bpd (vs. 9.7 million for May and again this month, with the next meeting slated for June 18)…“Today’s deal is a positive development and, unless a second COVID-19 wave hits the world, it will be the backbone of a quick recovery for the energy industry,” said Bjornar Tonhaugen, Rystad Energy’s head of Oil markets…“That is due to the Oil stocks decrease that we will see as a result of the production deficit. Stocks are now what keep prices at relatively low levels and the quicker they fall, the faster we will see prices rise”…

3. China’s trade surplus ballooned as the communist country experienced a sharper-than-expected fall in imports in May, reflecting weak global growth…China’s imports tumbled 16.7% compared with a year earlier, worsening from a 14.2% decline the previous month and marking the biggest fall since January 2016…as a result, China posted a record trade surplus of $62.93 billion last month, the highest since Reuters started tracking the series in 1981, compared with the poll’s forecast for a $39 billion surplus and a $45.34 billion surplus in April…“Exports benefited from the ASEAN (Association of Southeast Asian Nations) market and exchange rate depreciation, while imports were affected by insufficient domestic demand and commodity price declines,” said Wang Jun, chief economist of Zhongyuan Bank…China’s trade surplus with the United States widened to $27.89 billion in May, according to a Reuters calculation based on customs data…the somber trade readings for the world’s 2nd-biggest economy could pile pressure on policymakers to roll out more support for a sector that is critical to the livelihoods of more than 180 million workers…total trade accounts for about a third of the Chinese economy…this comes as Sino-U.S. tensions are again on the rise, though President Trump likely has little choice but to stick with a Phase 1 trade deal for now…

4. Great Bear Resources (GBR, TSX-V) has drilled 30.5 g/t Au over a core interval of 12.4 m at Dixie (BR-133), within 25.15 m grading 15.5 g/t, starting 163.35 m downhole (true width unknown)…this is the widest, highest-grade Gold interval drilled at the LP Fault to date (previously disclosed drill hole BR-118, which assayed 18.6 g/t over 13 m, was formerly considered one of the best high-grade intervals along the LP Fault prior to BR-133)…BR-133 and BR-118 are 600 m apart and both intersect the same Gold zone…BR-133 was completed in a 140-m gap in drilling…Chris Taylor, President and CEO of Great Bear said, “The LP Fault continues to demonstrate excellent continuity of near-surface high-grade Gold, and has just yielded the highest-grade, widest drill interval to date. Deeper drilling towards the northwest margin of our planned grid program has also extended high-grade Gold mineralization in this area. Having completed our upsized private placement, we have over $50 million in cash and sufficient capital to continue aggressive drilling into 2022. Updated exploration plans reflective of our ability to undertake an expanded fully-funded drill program will be provided in the near future”…GBR is up $1.09 at $11.88 through the first 30 minutes of trading…

5. The Dow continues to build on its recent robust gains, up another 266 points as of 7:00 am Pacific…individual investors are pouring money into popular technology stocks, contributing to a booming rally on Wall Street that is leading major indexes higher even as economic uncertainty related to the Wuhan COVID-19 pandemic lingers…the faith investors have in fast-growing tech firms and historic stimulus measures by the world’s central banks and governments helps explain how stocks have shaken off the worst U.S. economic contraction and civil unrest in decades…many Internet stocks favoured by individuals are also popular for hedge funds and institutional investors seeking assets with attractive growth prospects…powered by advances from companies including Apple (AAPL, NASDAQ) and Amazon (AMZN, NASDAQ), the S&P 500 has surged to its highest level since late February and erased nearly all of its drop for 2020…the NASDAQ Composite, meanwhile, is up 9.4% for the year and on Friday eclipsed its February intra-day record…in Toronto, the TSX is 96 points higher…Copper Mountain (CMMC, TSX), showing technical and fundamental strength, is up a penny at 55 cents as it attempts to conquer its 200-day SMA…the Venture, which has posted 9 straight weekly gains, is up 5 points at 562…KABN Systems, a technology play, has successfully completed its RTO of Torino Power (TPS, CSE) including a $2.2 million raise at 15 cents a share…Torino is expected to begin trading again as KABN this Wednesday on the CSE…Canada Silver Cobalt (CCW, TSX-V) is up a penny-and-a-half at 49 cents in early trading as drilling continues at the Robinson Zone discovery at Castle East where 7.56 million ounces of Silver at an average grade of 8,582 g/t or 250 oz/ton have already been outlined as an Inferred resource…CCW’s rising 50-day SMA is about to push above its rising 200-day SMA in a classic “Golden Cross”…such an event last occurred in November of last year and was followed by a 70% jump in the share price…a new Silver stock began trading on the Venture this morning, Reyna Silver (RSLV, TSX-V) after a successful RTO of Century Metals…RSLV raised $5 million at 25 cents as it prepares to tackle its 45 sq. km Guigui Property in Chihuahua, Mexico, covering a major portion of the Santa Eulalia mining district…RSLV, with 73 million shares outstanding, opened at 64 cents and is trading at 58 cents as of 7:00 am Pacific…Northwest B.C. exploration play Auramex Resource (AUX, TSX-V) remains halted, pending news…

6. “Progressives”, rounded up and stirred up by much of the liberal Trump-hating mainstream media, and aided by Antifa and other anarchist organizations, have also become a threat to America’s economic recovery amid Trump’s aggressive reopening strategy: Protests across the U.S. over the death of George Floyd could lead to new surges in coronavirus cases, Dr. Anthony Fauci warns…“It is the perfect set-up for the spread of the virus in the sense of creating some blips which might turn into some surges,” Fauci stated in an interview with Washington, D.C. radio station WTOP-FM…“As I sat in front of the TV and watched the screen go from Washington, D.C., to New York City, to Los Angeles, to Philadelphia, I got really concerned,” Fauci told the Sunday Times of London…“I was going, ‘Oh my goodness. I hope this doesn’t set us back a lot.’ After all of the work in trying to maintain the physical distance and doing all the things, I became very concerned that we might see a resurgence”…while some in the massive crowds have worn masks, others haven’t – and no one is social distancing, he said…the protests bring together people from different areas, many of them virus hotspots, Fauci added…the participants then return home and create a “perfect recipe” for a resurgence of the virus…“It’s a difficult situation. We have the right to peacefully demonstrate and the demonstrators are exercising that right. It’s a delicate balance because the reasons for demonstrating are valid and yet the demonstration itself puts oneself at an additional risk”…

7. AstraZeneca (AZN, LON) has approached rival drugmaker Gilead Sciences (GILD, NASDAQ) about a potential merger, according to a Bloomberg News report yesterday…any deal would bring together 2 of the companies leading the drug industry’s efforts to fight the Wuhan COVID-19 pandemic…AstraZeneca contacted Gilead last month and it did not provide the terms of any transaction, the report added…while Gilead has discussed the merger idea with advisors, no decision has been made on how to proceed and the companies are not in formal talks, Bloomberg News added…at this point in time, Gilead is not believed to be interested in selling to or merging with another big pharmaceutical company, preferring instead to focus its deal strategy on partnerships and smaller acquisitions…AstraZeneca said on June 4 it had doubled manufacturing capacity for its potential coronavirus vaccine to 2 billion doses in 2 deals involving Microsoft billionaire Bill Gates that guarantee early supply to lower income countries…it is unclear if a vaccine will work, but AstraZeneca’s partnership with Oxford University to develop one is among a handful of initiatives President Trump’s COVID task force has backed…Gilead has also been at the forefront…its Remdesivir antiviral is the first drug to lead to improvement in COVID-19 patients in formal clinical trials…however, it was reported over the weekend that Gilead’s supply of Remdesivir is running out…the company has given a general range of product delivery for July and August, which then significantly expands beginning in September, October, and through the fall as they open the spigot of their production and processing, according to a U.S. Department of Health and Human Services official…while not a blockbuster drug, a study shows that Remdesivir helps COVID-19 patients by shaving several days off a hospital stay, from an average of 15 to 11 days…

Rapid Response!

How This Pandemic Will Ultimately Help Copper

Wuhan COVID-19 Virus Update

The Cost Of Doing Business With China (The CCP)

“Silver Lining”: Innovative Vancouver Company Provides Help During Crisis

COVID-19 Update

Smithers Shakes Off Turmoil For A Major 3-Day Event Connecting Hockey And The Resource Sector

Turbocharged Nickel

Commodity Check!

The Nickel Mountain Magma Highway

The Dramatic New Chase For A Nickel-Copper-Rich Massive Sulphide Deposit In The Heart Of A Famous Gold Camp