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Next BMR Morning Market Musings is tomorrow under our broadening new format.

1. Gold has traded between $1,215 and $1,227 so far today…as of 7:00 am Pacific, bullion is down $8 an ounce at $1,217 while Silver has slipped 23 cents to $17.52…holdings of the world’s largest Gold ETF, New York-listed SPDR Gold Trust, fell another 3.8 metric tons yesterday, adding to the previous session’s 4.7-ton decline…meanwhile, Silver ETFs saw outflows of around 75 tons, their most pronounced daily outflow in nearly 2 months…almost 94 tons of Silver have been withdrawn within the last 3 days of trading, according to Commerzbank…this is due to traders selling ahead of an expected imminent Fed rate hike – the 3rd time we’ve seen this movie…

2. China’s Gold reserves were unchanged for a 4th month in February, the country’s central bank said today, the longest stretch for which it has not added to its holdings since it started updating the data monthly in mid-2015…

3. Crude Oil prices are up 43 cents a barrel to $53.63 as of 7:00 am Pacific…ExxonMobil (XOM, NYSE) is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of $20 billion over a 10-year period to take advantage of the American energy revolution, the company announced yesterday…the 11-project spending plan is largely aimed at creating new outlets for U.S. Natural Gas…CEO Darren Wood stated, “We are using new, abundant domestic energy supplies to provide products to the world at a competitive advantage resulting from lower costs and abundant raw materials. In this way, an upstream technology breakthrough has led to a downstream manufacturing renaissance.”  Chevron Corp. (CVX, NYSE) is expected to unveil similar plans this week, ramping up its operations in the already booming Permian basin in West Texas and New Mexico…Canada’s energy “revolution” and future, meanwhile, seems to revolve around carbon taxes and “less dependence” on fossil fuels to fit the agenda of the United Nations – what a waste of potential…

4. The Venture is down 4 points at 806 as of 7:00 am Pacific…very strong Venture support ranges from 800 to 770…one of the volume leaders again this morning is Tinka Resources (TK, TSX-V) which hit a 3-year high of 47.5 cents in early trading following news yesterday…the first hole of a 10,000-m drill program, a 400-m step-out from the existing resource, hit 17.9 m grading 11.6% Zn within a broader interval of 62.4 m @ 5.6% Zn (partial results to 238 m depth only)…the TSX and Dow are off slightly in early trading…

5. Deveron UAS (DVR, CSE) continues to make headway as North America’s leading drone-based data provider to the agricultural industry…DVR announced this morning that it has made a multi-year commitment to working with Thompsons Ltd. to provide leading-edge remote sensing data solutions to its growers…the contract is expected to run through 2018…Thompsons Ltd., a wholly owned subsidiary of U.S.-based Lansing Trade Group LLC and the Andersons Inc., is a major agricultural retailer that has been in business for nearly a century with a core focus of providing its growers with customized, advanced agronomy solutions.  “We are excited to be partnering with Deveron UAS to help us continue to more precisely document the variability that every field has,” commented Jevin Vyn, agronomy solutions specialist at Thompsons Ltd. “Deveron has proven to be a leader in the imagery market, and we believe that through our partnership we will be able to bring our customers new innovations in this space. As well, we will be able to utilize drone data on many of our customers’ acres to help them increase profitability on their farm.” DVR is unchanged at 47 cents as of 7:00 am Pacific…

6. First Cobalt (FCC, TSX-V) announced this morning that it has closed a $6 million financing at 50 cents…newly-appointed President and CEO Trent Mell stated last week, “The macro-environment for Cobalt is strong, with half of global production going towards the production of Lithium-ion and other batteries.  First Cobalt has already identified its first significant asset, by securing a large land package in the renowned Canadian Silver Centre Cobalt Camp. The team being formed around this company should attract excellent deal flow opportunities, both domestically and internationally (our emphasis).  I look forward to this leadership role at First Cobalt, with the objective of making the company a premier global player in the space.”  FCC is off 3 cents at 82 cents after climbing 14 cents yesterday on a high volume technical breakout…other Greater Cobalt-area focused stocks have been firm so far this week including Castle Silver Resources (CSR, TSX-V), CobalTech Mining (CSK, TSX-V) and Cobalt Power (CPO, TSX-V), while Cruz Cobalt (CUZ, TSX-V) is testing strong support in the low 20’s where it could fill a gap from February 14…

7. Engold Mines (EGM, TSX-V) is up is up 3 cents to 28 cents through the first 30 minutes of trading after providing an update on drilling activity at its Lac La Hache Property in the B.C. Cariboo after reporting 26.6 m (true width) grading 1.76% Cu and 0.27 g/t Au March 1 in a drill hole 1.8 km away from an existing deposit at the property…a 2nd drill rig has been moved to Lac La Hache in order to focus on a 1 km x 1.4 km gravity geophysical anomaly that prompted the discovery hole…Engold has requisitioned an expanded and more detailed gravity survey that is expected to commence mid-month…the new gravity work will test for extensions of the anomaly, help guide drilling at the new discovery, as well as test for similar gravity anomalies on other parts of the property…

The 3 most popular recent BMR articles…

Update:  Who’s Who In The Northern Ontario Cobalt Camp

The Drone Revolution:  Deveron UAS Carves A Niche In The Booming AgTech Sector

7 @ 7:00: Respected Gold producer CEO: “I don’t think, in my 20 years, I’ve ever seen the stars so aligned for a better Gold price”