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1. Gold has traded between $1,422 and $1,429 so far today…as of 7:00 am Pacific, bullion is up $1 an ounce at $1,427 as the Fed begins a 2-day policy meeting…SPDR Gold Trust, the world’s largest Gold-backed ETF, said its holdings rose 0.83% to 824.89 tonnes yesterday from 818.14 tonnes on Friday…Silver has added a penny to $16.44…Nickel and Copper are off slightly at $6.44 and $2.69, respectively, while Zinc is flat at $1.12…Crude Oil has climbed 22 cents a barrel to $57.09 while the U.S. Dollar Index is trading around strong resistance at 98.12…U.S. inflation remains muted, a major reason why the Fed will cut interest rates for the first time in more than a decade tomorrow…the Commerce Department reported this morning that its Core Personal Consumption Expenditures Index increased in June in line with expectations…annually, core inflation, which is the Fed’s preferred inflation measure, increased 1.6%, unchanged from May’s reading – the 3rd straight month inflation has held at this level…the Bank of Japan kept monetary policy steady today but said in its policy statement that it “will not hesitate to take additional easing measures” if the economy loses momentum toward achieving the target inflation rate of 2%…President Trump ratcheted up pressure on China to quickly reach a trade deal, warning that if he is re-elected, the terms of an agreement would be much tougher than what is currently being discussed…the President said in a series of tweets this morning that China might get a better deal – at the expense of the U.S. – if a Democrat like former Vice President Joe Biden wins the Presidency in 2020…“Then they could make a GREAT deal, like in past 30 years, and continue to rip off the USA, even bigger and better than ever before”…Goldman Sachs this morning has raised its 2019 year-end price target for the U.S. benchmark S&P 500 index by 3% to 3,100, but lowered its earnings estimates, citing weakness in economic activity and margin outlook…

2. Commerzbank on Gold:  “This is set to be an eventful week for Gold market participants, the highlight of which is likely to be the Fed’s decision on interest rates.  A rate cut of ‘only’ 25 basis points could prove disappointing given that the market has priced in more.  Much will also depend on what Fed Chair Powell says in the subsequent press conference.  If he makes no mention of a cycle of rate cuts, causing Gold to come under pressure, we would not see this as a trend reversal but as an attractive buying opportunity. After all, the monetary policy of many central banks is expansionary, and is currently becoming even more expansionary, which should benefit Gold as a store of value”…

3. The Tahltan Nation has made one of the largest clean energy investments by a First Nation in Canadian history, in the heart of Northwest British Columbia’s prolific Eskay Camp…the Tahltan Nation, a major supporter and beneficiary of development in the area, has purchased 5% – from Axium and Manulife – of 3 hydroelectric power plants, the Forrest Kerr, McLymont Creek and Volcano Creek run-of-river projects…in partnering with Axium Infrastructure Canada, Manulife Financial (MFC, TSX) and AltaGas (ALA, TSX), the Tahltan Nation is now part owner of a clean energy asset that is valued well over $2.5 billion…Rick McLean, Chief of the Tahltan Band, stated in a news release, “This clean energy deal is a game-changer and will provide our Nation with an asset that will give back for over 100 years”…McLymont Creek and Forrest Kerr are situated along the southern edge of Crystal Lake Mining’s (CLM, TSX-V) Newmont Lake Project where drilling begins in the next 24-48 hours at the Burgundy Ridge Copper-Gold-Silver-Cobalt-Zinc discovery, while Volcano Creek is located along the Eskay mine road near Garibaldi Resources‘ (GGI, TSX-V) camp and the Eskay Creek mine where Skeena Resources (SKE, TSX-V) will be drilling this summer…

4. More action in the Eskay Camp:  Tudor Gold (TUD, TSX-V) has drilled 252 m grading 1.27 g/t Au (GS19–42) in a 150-m step-out to the northeast of last year’s key hole that intersected 280.5 m @ 1.14 g/t in its upper mineralized horizon at the Treaty Creek Goldstorm zone next to Seabridge’s (SEA, TSX) KSM Project…a 2nd rig has arrived at the property in an effort to rapidly build out the system along strike to the northeast and toward the footwall contact zone to the southeast with more large step-outs…the system has strength to the northeast as the depth exceeds 700 m with an average of 0.68 g/t Au over 780 m of vertical intercept in GS19–42…curiously, strong Silver-bearing base metal mineralization was seen for the first time at Goldstorm in this latest hole which included Eskay Creek-style grades over 1.5 m (209.5 m to 211 m) – 33.5 g/t Au, 1,154 g/t Ag, 2.9% Cu, 6% Pb and 1.9% Zn…TUD has climbed 3 cents to 63 cents through the first 30 minutes of trading…

5. Amex Exploration (AMX, TSX-V) has hit high-grade Gold mineralization in 2 additional holes at its newly-defined Gratien Gold zone, 1.5 km from the Eastern Gold zone (EGZ) at its Perron Property near Rouyn-Noranda…high grade mineralization can now be traced over a sub-horizontal strike of 360 m at Gratien, in addition to several lenses of lower grade Gold mineralization that have been defined through historical drilling…drill hole PEG-19-66 cut 4.25 m grading 16.8 g/t Au (221.8 to 226.05 m) while PEG-19–68 intersected 27.5 g/t Au over 4.9 m (189.6 m to 194.5 m)…the company is also reporting visible Gold in 3 regional wildcat exploration holes which are located about 650 m from Gratien and located between the Gratien Zone and the EGZ…“We are very enthusiastic to see that, as modelled and interpreted, we are now confirming the presence of high grade Gold mineralization from multiple Gold systems at Perron,” stated Jacques Trottier, Amex Chairman of the Board…“The Gratien Gold zone is a kilometre-long corridor of mineralized structures that is showing significant potential for tonnage given its known strike length, proximity to surface, and multiple lenses of Gold mineralization.  We have currently dedicated one drill to the Gratien and other regional targets that we have labelled as wildcats.  The other drill is still working on the Eastern Gold zone in order to increase its size by drilling laterally and at depth”…the Gratien Gold zone was previously explored through the 1990’s and early 2000’s as a bulk tonnage system…potential areas of high-grade lenses with this system, identified by Amex, show similarities to the Eastern Gold zone, including spatial correlation with high-magnetic mafic intrusions, secondary order north-east south-west structures, sodic rhyolite host-rocks and high-grade Gold bearing quartz-veins…AMX is unchanged at $1.11 in early trading…

6. The Dow is down 75 points through the first 30 minutes of trading…Beyond Meat (BYND, NASDAQ) tumbled more than 15% at the open on news the company would embark on a secondary offering of 3.25 million shares only 3 months after its IPO…that report followed the release of mixed Q2 results and a raised 2019 revenue forecast…in Toronto, the TSX is off 23 points while the Venture has slipped 2 points to 589…Pure Gold Mining’s (PGM, TSX-V) surface drilling at the Madsen Red Lake mine continues to confirm and expand the Wedge deposit extents with bonanza-grade Gold intercepts returned from initial 2019 exploration drilling…results from separate drill holes include 108.5 g/t Au over 1 m, 94.6 g/t Au over 1 m, and 13.8 g/t Au over 1 m…2 drill rigs are currently active with 1 rig targeting growth at the Wedge resource, and 1 rig testing the Fork extension target…the Globe and Mail reported this morning that the former chairman of CannTrust Holdings (TRST, TSX), along with a director, sold $6 million of the company’s stock in the weeks after he was informed in writing that the weed producer was illegally growing pot plants in unlicensed rooms…a holding company controlled by Eric Paul and director Mark Litwin sold nearly $1 million worth of shares on November 16 last year…the holding company, called Cannamed Financial, sold a further $5 million in CannTrust shares over the next 30 days…National Access Cannabis (META, TSX-V) has reported a loss of $4.78 million in its latest quarter…the company’s retail cannabis stores generated $16.8 million in revenue in Q3 2019, or 5.5% growth compared with Q2 2019…gross profit margin was 32% in Q3, compared with 31% in the most previous quarter…

7.  Eric Sprott steps into another Eskay Camp play:  American Creek Resources (AMK, TSX-V) has announced that it intends to complete a non-brokered private placement with Sprott’s private company, 2176423 Ontario Ltd., consisting of the issuance of 20 million units at a price of 5 cents per unit for proceeds of $1 million…each unit will consist of 1 common share of American Creek and 1 full warrant that may be exercised for 1 additional common share at a price of 6.5 cents for a period of 24 months…as part of this financing and the issuing of the units, Sprott has agreed to sign a voting agreement in which he will vote with management in the event of a hostile takeover bid, and to also vote with management if management agrees to accept a takeover bid…Darren Blaney, President and CEO of American Creek, stated: “We welcome Mr. Sprott’s involvement and significant contribution.  This is an endorsement of not only the potential of the Treaty Creek Project but also of our other projects we’ve been able to successfully acquire.  With Mr. Sprott’s support and with market conditions improving, we very much look forward to working together to advance these projects and create additional value for our shareholders”…AMK is up a penny at 7 cents on total volume (all exchanges) of nearly 2 million shares as of 7:00 am Pacific…

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