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7 @ 7:00 - BullMarketRun.com

December 5, 2017

7 @ 7:00

Check the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,266 and $1,277 so far today, touching a 5-week low…as of 7:00 am Pacific, the yellow metal is off $8 an ounce at $1,268…total known Gold ETF holdings continue to rise, up nearly 20% this year which significantly exceeds the increase in the Gold price…however, bullion is still on track for its best year since 2010 when it climbed 30%…Silver is down 15 cents at $16.14…Copper has slid 11 cents to $2.97, its lowest level in 2 months, while Nickel has fallen 21 cents to $4.94…Crude Oil is relatively flat at $57.42 while the U.S. Dollar Index has climbed one-quarter of a point to 93.33….

2. OPEC has shown strong compliance with the supply cut pledge with November output dropping by 300,000 bpd to its lowest since May, according to a Reuters‘ survey…however, rising U.S. Oil production presents a headwind for OPEC’s efforts and data last week showed U.S. Crude output increased to nearly 9.5 million bpd in September, approaching the high of 9.63 million bpd seen in 2015…drilling rig activity is also up recently…on a positive note, the latest U.S. inventory reports are likely to show a 3rd straight weekly drop in Crude stocks…analysts expect the reports from industry group American Petroleum Institute (API) and the government’s Energy Information Administration (EIA) to show Crude stocks fell by 3.5 million barrels…Oil prices are now lower than where they were prior to the confirmation of the OPEC deal, not surprising given the level of expectation that had built up ahead of last week’s meetings…speculative investors were also holding almost record-high net-long positions…however, the outlook for next year looks solid and Goldman Sachs this morning raised its Oil price forecasts for 2018 by about 5%…

3. Strong earnings growth is a key factor in propelling global equity prices higher…listed companies are at their most profitable on record after a bumper year of earnings growth…the earnings-per-share of a FactSet index of over 20,000 listed companies from around the world has now reached an average of $9.69, increasing nearly 19% in the last year…that is the fastest year-over-year rise since 2011, surpassing the late 2014 high of $9.55…while the FactSet data only stretches back to 2001, increased earnings in emerging markets like China, among other factors, mean that the per-share level has likely never been higher…meanwhile, the Citi Global Economic Surprise Index, which measures whether economic data are beating or missing analysts’ expectations, has seen its best run since 2010 this year in both emerging and developing markets…

4. There’s a growing pipeline of potential new discovery opportunities in the broader Eskay Camp…Pretium Resources (PVG, TSX) announced this morning that a comprehensive regional exploration program has resulted in the identification of 3 distinct areas that have the potential to host epithermal mineralization similar to the Valley of the Kings…several Gold and Silver epithermal targets have been identified in the American Creek zone located approximately 25 km southeast of the Brucejack mine…the American Creek valley is dominated by km-scale north-south structures and localized east-west stockworks, which host elevated Gold values of up to 62.5 g/t in rocks of the Lower Hazelton group, Unuk River formation, the same formation that hosts the Brucejack mine…geophysical conductors identified in the American Creek zone are supported by coincident pathfinder minerals and trace elements associated with epithermal mineralization…the Koopa zone, located approximately 30 km east-southeast of Brucejack, has returned high grades of Gold, Silver, Lead and Zinc in surface sampling with geochemical signatures similar to intrustion-related epithermal Gold deposits…finally, 15 km east of Brucejack, numerous high-grade boulders have been sampled at the Boulder zone…alteration, geochemistry and Upper Hazelton group rocks in the area do indicate the boulders are potentially VMS related…a final data analysis is under way to refine high-priority targets within these 3 areas for drilling in spring 2018

5. North American equity markets have generally opened slightly weaker this morning, though the NASDAQ is up on a rebound in tech stocks…the Dow is off 42 points as of 7:00 am Pacificin Toronto, the TSX has retreated 47 points while the Venture has eased off 2 points to 785…a strong support exists between 780 and 770…typically, the Index will find its low for December during the first half of the month and then begin a strong push higher immediately prior to Christmas…Cobalt prices are closing in on another new high, up 45 cents at $30.84, just 23 cents below the recent new decade high, and that’s helping to give the company with the only underground access in the northern Ontario Cobalt Camp another lift…Castle Silver Resources‘ (CSR, TSX-V) crews have been sampling on the first level of the Castle mine, targeting high-grade Cobalt veins as highlighted in news last Friday…more results are pending…

6. The Canadian Securities Exchange posted record trading results for the month of November with the turnover of 3.49 billion shares…this smashed the previous monthly record from November 2016 of 1.33 billion shares…on a year-to-date basis, the CSE has traded 13.03 billion shares of its listed companies, far exceeding last year’s record of 6.43 billion shares…meanwhile, the total value of all shares traded on the CSE so far this year is $4.74 billion, well ahead of the previous annual record of $1.55 billion traded in 2016….the CSE has also seen robust activity on the new listings and financings front.  “A number of industry sectors have clearly caught the attention of the trading and investing communities interested in entrepreneurial companies,” commented Richard Carleton, CEO of the CSE. “We are delighted to see that the hard work of our issuer companies and the CSE team is paying off to the degree that it has over the last several weeks. With a strong group of prospective issuers in its pipeline, we are confident that the CSE will continue to bring compelling investment opportunities to investors in the coming months.”

7. Cboe Global Markets is leaping ahead of CME in an effort to become the first to launch bitcoin futures…Cboe announced this morning that it’s launching futures trading in the cryptocurrency beginning Sunday, Dec. 10, making the Chicago-based exchange the first to give investors a new way to wager on, and against, the booming new market.  “Given the unprecedented interest in bitcoin, it’s vital we provide clients the trading tools to help them express their views and hedge their exposure,” stated Ed Tilly, Chairman and CEO of Cboe Global Markets

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  1. So whats the next stock to pop hard?

    Comment by Tfred — December 5, 2017 @ 11:28 am

  2. Tfred I think it’s going to be CSR! Just needs some volume

    Comment by Gregory — December 5, 2017 @ 3:36 pm

  3. looking at srj might have a chance.

    Comment by bc guy — December 5, 2017 @ 6:33 pm

  4. From what I saw today, I’d have to put my $$$$$ on AIS …….. up a bit early then down a bit, and finally up strong at the Bell …… another good Volume day after yesterday, so last week’s .84 – .88 buying range is looking good in the Account …… GGM is cleaning up !! Farmer Tom

    Comment by farmer — December 5, 2017 @ 7:06 pm

  5. MTS – another pennant forming on MTS chart again. With news due soon this may pop.

    Comment by vepper — December 5, 2017 @ 9:02 pm

  6. CLE – a good sign for Clean Commodities Corp holders. 1.5 million options to officers and directors at todays high of.14 cents.

    Comment by vepper — December 5, 2017 @ 9:36 pm

  7. GGI web page updated.

    Comment by Robert — December 6, 2017 @ 4:13 am

  8. CYP..Cypress, Nevada lithium play, new concept
    of lithium in clay, appears to be a consistent
    high grade source, further results before Christmas!

    Comment by Bob — December 6, 2017 @ 4:30 am

  9. Christmas may have come early for GGi shareholders based on this am news release of more 7% nickel intercepts and more ten anomalies. Pretium is also talking about new anomalies on their piece of the Rockies.

    Comment by donald — December 6, 2017 @ 4:41 am

  10. Indeed, donald—-imagine this! If hole 9 is not the discovery hole, what is hole 14 going to be like????

    Comment by Jon - BMR — December 6, 2017 @ 4:43 am

  11. Where is hole 14 on the map?

    Comment by donald — December 6, 2017 @ 4:57 am

  12. Donald, go to the east a couple hundred m from the northwest zone, you’ll see where 14 is collared cutting toward SW on that cross section map – or look for small box highlighting doscovery zone.

    Comment by Jon - BMR — December 6, 2017 @ 5:10 am

  13. I just received News and yesss, we are on the ” up and up ” , and the big question remains, ” how will the Market react ” ?? I’m advising my little Group to try and hold on, however if there is a need to sell to cover ” costs ” incurred, then so be it ….. Farmer Tom

    Comment by farmer — December 6, 2017 @ 5:21 am

  14. Hi Jon, It would be nice to see sequential maps of growth of the red zones with each update. How far from surface is the growing historic zone? How might GGi deal with the halo nickel during mining? thanks

    Comment by donald — December 6, 2017 @ 7:18 am

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