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7 @ 7:00 - BullMarketRun.com

December 6, 2017

7 @ 7:00

Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,263 and $1,270 so far today, touching a 2-month low…as of 7:00 am Pacific, the yellow metal is off $2 an ounce at $1,264 as it hovers around its 200-day moving average (SMA)…Silver, clearly oversold, has retreated another 7 cents to $15.98…Copper is up 2 pennies at $2.97 while Nickel is unchanged at $4.90…Crude Oil has slipped more than $1 a barrel to $56.57 while the U.S. Dollar Index has climbed one-quarter of a point to 93.55….despite appeals and warnings from certain world leaders, President Trump is on the verge of fulfilling another election promise as he’s poised to reverse decades of U.S. policy by declaring Jerusalem as Israel’s capital and beginning the process of moving the U.S. Embassy to the holy city…

2. India’s Gold imports in November nearly halved from a year ago as a rise in the price of the yellow metal curbed retail buying for weddings, industry officials and analysts said today…a drop in Gold purchases by India, the world’s second-biggest consumer after China, has been one factor restraining Gold prices despite strong ETF buying…India’s imports in November were around 55 tonnes, a sharp fall from last year’s 100.6 tonnes, provisional data from GFMS showed…

3. Not surprising – Oil prices have slipped below where they were prior to last week’s confirmation of the OPEC deal when speculators were holding almost record-high net-long positions…traders got another excuse to lock in profits yesterday when an American Petroleum Institute (API) report showed a 9.2 million barrel rise in gasoline stocks in the week ended Dec. 1, and an increase of 4.3 million barrels in distillate inventories, which include motor diesel and heating Oil…the perception that the higher fuel stocks pointed to weak demand outweighed a larger than expected drop in Crude inventories (5.5 million barrels to 451.8 million barrels)…however, the outlook for next year looks solid and Goldman Sachs has raised its Oil price forecasts for 2018 by about 5%…meanwhile, climate change extremists and Oil haters are causing economic damage to Alberta, but also Canada overall, by creating further delays in the planned (and approved) Trans Mountain pipeline…Kinder Morgan Canada (KML, TSX) says there’s a lack of clarity around municipal permit processes and related judicial processes (the anti-pipeline crowd has been effective at both levels, municipal and judicial)…an expansion of the pipeline from Alberta’s energy heartland to Burnaby, B.C., would nearly triple capacity to 890,000 barrels per day, and is critical to help Alberta get more of its Crude to tidewater…

4. Garibaldi Resources (GGI, TSX-V) has drilled into more exceptionally high-grade massive sulphides at Nickel Mountain in the heart of the Eskay Camp, solidifying the first discovery of a Nickel-Copper-rich sulphide system in the heart of one of the world’s most prolific high-grade Gold camps…drill hole EL-1709 has cut 7.3% Nickel and 3.3% Copper, along with Palladium, Platinum, Cobalt, and Gold and Silver values, over 9.9 m within a broader interval of 12 m grading 6.2% Ni and 2.9% Cu (175.5 m to 187.5 m)…above that massive sulphide intercept, which builds on the discovery zone to the east of the historic deposit, a strongly disseminated zone of 32.5 m was also intersected, grading 0.91% Ni and 0.69% Cu…meanwhile, the historic zone to the west has been expanded with all 4 of those holes reported this morning cutting wide intervals of Ni-Cu-rich mineralization including 39.3 m @ 1.27% Ni and 0.81% Cu in EL-1708…also significant is that multiple new airborne VTEM conductors have been outlined over a broad north-northeast corridor stretching 6 km to “Anomaly A” after a further review of geophysical data obtained by GGI during a spring program…it’s becoming increasingly apparent that the GGI geological team, led by Dr. Peter Lightfoot, is well on its way to a potential new world class discovery in an established mining camp…GGI gapped up to $3.24 at the open and is up 33 cents at $3.25 as of 7:00 am Pacific…more drill results are pending including Discovery Hole 14

5. Is Cramer right or wrong?…the colorful CNBC commentator warned this morning that Bitcoin is a pure gamble, and those interested in the cryptocurrency should just go to Vegas instead…the cryptocurrency, which has surged more than 1,000% this year, broke above the $12,000 mark this morning after a recent correction.  “It’s kind of like monopoly money,” said Cramer, the host of CNBC’s “Mad Money”“Obviously, there’s people who use it. If you ever say anything bad about it, there’s like this ‘bitcoin mafia’ that comes after you. But it is an oddity that has nothing to do with us” as investors…

6. North American equity markets are generally flat in early trading…the Dow is up 11 points as of 7:00 am Pacific while in Toronto, the TSX has added 2 points while the Venture is even at 784 through the first 30 minutes of trading..typically, the Venture will find its low for December during the first half of the month and then begin a strong push higher immediately prior to Christmas…Tinka Resources (TK, TSX-V) is pushing higher after releasing results for 6 new drill holes at the company’s 100%-owned Ayawilca Zinc Project in central Peru…3 holes were resource step-out holes at South Ayawilca, 2 were resource infill holes, while 1 hole intersected significant mineralization at the “Zone 3” area for the first time (10.3 m at 5.9 % Zinc, 2.0 % Lead and 66 g/t Silver from 570.2 m)…Dr. Graham Carman, Tinka President and CEO, stated: “We believe the new intercepts in drill hole A17091A are very significant, as they open up the Zone 3 area for potential resource expansion in an area that has seen little drilling. The same magnetic anomaly that outlines the Ayawilca Zinc and Tin Zones continues into Zone 3, extending the prospective zone by hundreds of metres to the northeast. A drill rig will continue to operate in the Zone 3 area following-up on this exciting discovery. Drilling is now expected to continue well into 2018 without a break, other than for the Christmas period”Big Blockchain Intelligence Group (BIGG, CSE) on the CSE has entered into an agreement with a syndicate of underwriters led by GMP Securities for the purchase of 13.34 million shares of the company at 75 cents per share on a bought deal basis for total gross proceeds of approximately $10 million

7. Saskatoon has the most competitive tax rates on business investments of any major city in Canada, beating Calgary for the 3rd straight year following recent tax hikes in the Alberta region, a new report shows…policy think-tank C.D. Howe Institute released its annual report card today that measures the marginal effective tax rate (METR) on new business investments in Canada’s biggest cities…Saskatoon earned the highest score, followed by Calgary and Vancouver in 2nd and 3rd place, respectively…overall, the highest tax burdens were found in Saint John, Charlottetown and Montreal…Toronto and St. John’s scored around the national average…Saskatoon has led the list since 2015, when it took the top spot from Calgary…

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3 Comments

  1. Love the high grade with GGI. Should be a steady flow of weekly news leading up to our “discovery Hole” 14. New all time highs with that one probably early next year going by the pace so far. I can wait. Picked up a little MTS today. Hope their hole hits another pearl??

    Comment by Patrick — December 6, 2017 @ 9:02 am

  2. Calyx Ventures Inc V.CYX) seems pull back finished. Next move up on high volumes just started?

    Comment by Arjan — December 6, 2017 @ 11:40 am

  3. Awesome news today with GGI. Will take some weight of late buyers. Any updates on CSR, CCC and GIII? Thanks!

    Comment by Shawn — December 6, 2017 @ 7:28 pm

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