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7 @ 7:00 - BullMarketRun.com

June 8, 2018

7 @ 7:00

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

1. Gold has traded between $1,293 and $1,301 so far today…as of 7:00 am Pacific, bullion is up $1 an ounce at $1,298Silver is 7 cents higher at $16.74…Copper is up a penny at $3.29…Nickel, which has enjoyed another strong week, has eased off 3 cents to $6.97 while Zinc is flat at $1.45…Crude Oil (WTI) has retreated 14 cents to 65.81…traders today are weighing an apparent slight weakening of demand in China and surging U.S. output against supply woes in Venezuela and Iran…China’s May Crude Oil imports eased off from a record high hit the month before, customs data showed this morning, with state-run refineries entering planned maintenance…May shipments were 39.05 million tonnes, or 9.2 million barrels per day (bpd)…that compared with 9.6 million bpd in April…meanwhile, American output has hit another record of 10.8 million bpd…that’s a 28% gain in 2 years and puts the U.S. close to becoming the world’s biggest Crude producer, edging closer to the 11 million bpd churned out by Russia…in Venezuela, state-owned Oil firm PDVSA is struggling to clear a backlog of around 24 million barrels of Crude waiting to be shipped to customers…the U.S. Dollar Index has retreated one-quarter of a point to 93.31

2. The booming U.S. private sector is creating jobs faster than rabbits can make bunnies, but the over-regulated, over-taxed Canadian economy shed 7,500 jobs in May as a drop in full-time employment (a loss of 31,000 full-time jobs) was only partially offset by an increase in part-time jobs…Statistics Canada reported the dip as the unemployment rate held steady at 5.8% for the 4th consecutive month…the manufacturing sector lost 18,000 jobs while employment in construction fell 13,000 last month…not surprisingly, British Columbia lost the most number of jobs…meanwhile, average hourly wages, a key indicator watched by the Bank of Canada, increased 3.9% compared to a year ago, the monthly reading’s largest annual increase since April 2009

3. Strange how Quebec, a very fortunate big net beneficiary of “equalization payments” in Canada, has no problem importing Oil from Middle East regimes while opposing the Trans Mountain pipeline expansion and banning fracking throughout the province…Pierre Moreau, the Minister of Energy and Natural Resources, announced a series of new measures yesterday to regulate Oil and gas exploration in Quebec…the ban on fracking for shale gas, he said, would protect the low-lying Lower St. Lawrence region in particular…“The story of the energy transition is being written, and these rules on hydrocarbons are part of that,” Moreau declared…the new regulations in Quebec have taken a heavy toll on Venture-listed Altai Resources (ATI, TSX-V) with the stock losing three-quarters of its value this week, now trading below 10 cents…another example of how climate change extremism is destroying wealth in this country…

4. The Dow is down 25 points through the first 30 minutes of tradingtensions have ratcheted up between the U.S. and key trade partners as the G-7 summit kicks off in Quebec…President Trump, the billionaire businessman, continues to frustrate and outmaneuver Prime Minister Trudeau, the high school drama teacher…the bigger political news out of Canada today is that the Progressive Conservatives are now back in charge after 15 years of Liberal rule in Ontario, and that’s allowing the resource sector and the broader business community to breathe a collective sigh of relief after a surge in support for the NDP during the last half of the campaign…the TSX is off slightly in early trading while the Venture has slipped 2 points to 773Ero Copper (ERO, TSX) is off slightly at $10.28 but the stock is up nearly $1 for the week after Wednesday’s news that hole FVS-212 at the company’s Vermelhos mine in Brazil intersected 39.8 m grading 5.6% Copper including 21.9 m grading 9.4%…this hole was the first to test the south extension of the main Vermelhos deposit and was drilled approximately 25 m south of the main Vermelhos orebodies…iMetals Resources (IMR, TSX-V) has signed Memorandums of Understanding (MOUs) with multiple First Nation communities to advance its Gowganda West Gold-Copper-Cobalt Project in Northern Ontario, contiguous to Tahoe Resources‘ (TH, TSX) multi-million ounce Juby Gold deposit…as prospecting crews expand the footprint of high-grade Gold mineralization at surface in preparation for first-ever summer drilling, iMetals has consulted with all First Nation communities with interests in the property area and has signed MOUs with Matachewan First Nation/Mattagami First Nation (MFN) as well as Temagami First Nation/Teme-Augama Anishnabai (TFN/TAA)…Doubleview Capital (DBV, TSX-V) has resumed exploration at its Red Spring Copper-Silver-Zinc Property north of Smithers…a field crew will extend coverage of a newly recognized Silver and Zinc zone located close to the historic Red Spring Copper-Silver deposit…

5.  Canada Cobalt Works (CCW, TSX-V) has launched its 2018 underground drill program at the Castle mine in the Northern Ontario Camp…CCW is the first company in Canada during this “new era” in Cobalt to drill underground for the metal…lots of it appears to be left over from earlier mining as previous operators including Agnico Eagle (AEM, TSX) in the 1980’s focused exclusively on exceptionally high-grade Silver veins…meanwhile, CCW announced more sampling results from the first level of Castle morning…an impressive set of numbers included 1.05% to 5.2% Cobalt from waste rock removed during rehab…there were also high Silver values, Nickel assays up to 1% and 1 sample that returned 10.1 g/t Gold…mineralized material from Castle is being put through the company’s proprietary Re-2OX process, showing exceptional recovery rates and removal of arsenic, in order to create high-purity Cobalt test products for battery sector clients in China…CCW is up half a penny at 46.5 cents as of 7:00 am Pacific

6. Metallis Resources (MTS, TSX-V) has launched a Phase 1 2018 exploration program at its 100%-owned Kirkham Property, prospective for multiple deposit types in the heart of Northwest B.C.’s prolific Eskay Camp…Phase 1 will focus intensely on the central and southern Kirkham area blocks which are situated at lower elevations with more moderate weather, enabling early-season work…Jeff Kyba, former Regional Geologist for the B.C. Ministry of Energy & Mines, is part of Metallis’ highly experienced exploration team for this first phase of an extensive 2018 program, the most comprehensive in company’s history…Kyba has been tasked with pinning down the “Red-Line” and evaluating the numerous base and precious metal targets that occur in close proximity…the program was put together with support from technical advisor Dr. Peter Lightfoot…interestingly, Metallis has noted that a detailed review of historical data for central and southern portions of Kirkham has revealed silt and heavy mineral samples with high Nickel values in addition to occurrences of gabbro…in addition, numerous mafic and ultramafic intrusive bodies have also been identified within these areas and will be investigated for their Nickel-Copper potential…previously, Nickel sulphide potential was believed to exist only at Thunder North and Thunder South…

7. Canada’s Senate has approved the Trudeau government’s landmark legislation to lift Canada’s 95-year-old prohibition on recreational cannabis…however, there are nearly 4 dozen amendments that the government may not entirely accept…Bill C-45 passed in the Senate by a vote of 5630 last night with one abstention, over the objections of Conservative senators who remain resolutely opposed…the bill must now go back to the House of Commons where the government will decide whether to approve, reject or modify the changes before returning it to the Senate for another vote…once passed, Health Minister Ginette Petitpas Taylor has said that provinces and territories will need 2 to 3 months to prepare before retail sales of legal cannabis are actually available…most of the Senate’s amendments are minor, but about a dozen are significant, including one to allow provinces to prohibit home cultivation of cannabis if they choose, rather than accept the 4 marijuana plants per dwelling allowed under the bill…Quebec and Manitoba have already chosen to prohibit home-grown weed…

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16 Comments

  1. Jon: any comments on IMR? 9 bid with some news finally!

    Comment by MERIDEX — June 8, 2018 @ 9:59 am

  2. IMR looking a little better these last couple days too. 10 cents plus real soon on that one. IMHO

    Comment by Ed — June 8, 2018 @ 10:14 am

  3. Looks good, meridex…the fact they’ve locked up the First Nations as they have, including them taking some shares, tells me they’re at a much more serious stage at Gowganda West, and of course they also stressed that the high-grade Gold footprint at surface continues to expand….really interesting situation given the growing extent of high-grade at surface (never previously documented) with this property contiguous to a 4-million ounce gold resource (1 g/t) at Juby…really looking fwd to getting on that ground in the near future to investigate further…wouldn’t it be something if IMR has the high-grade deposit and Tahoe the low-grade?…

    Comment by Jon - BMR — June 8, 2018 @ 10:57 am

  4. GGI news…

    Comment by flyinthruu — June 8, 2018 @ 11:34 am

  5. VANCOUVER, June 8, 2018 /PRNewswire/ – Garibaldi Resources (TSX.V: GGI) (the “Company” or “Garibaldi”) is pleased to report that after months of preparations, a major 2018 drill program at Nickel Mountain in the Eskay Camp has commenced with two drill rigs this morning as the Company follows up on last fall’s nickel-copper-rich massive sulphide discovery east of the historic E&L deposit.

    The first stage of 2018 diamond drilling will simultaneously further define the Discovery zone and systematically step out from EL-17-14, testing for nickel-copper-rich magmatic sulphide mineralization to the south where promising conductive targets have been defined by geophysical surveys. EL-17-14 intersected 16.75 meters of massive sulphides (approximate true width) grading 8.3% nickel and 4.3% copper, along with cobalt, platinum, palladium, gold and silver values, within a broader 40.4-meter mineralized zone (see December 8, 2017 news release).

    Steve Regoci, Garibaldi President and CEO, commented: “The entire Garibaldi technical team of geologists and geophysicists are excited to build on this unique Eskay Camp discovery. Months of analyzing geophysical and other data has bolstered their understanding of the Nickel Mountain Intrusive Complex and has shaped an aggressive 2018 program that will test the scale of a massive sulphide discovery that’s open in all directions. In addition, there’s an 8-km-long trend of high-quality conductors to the northeast that we’re very eager to follow up on this year.

    “With a treasury of approximately $25 million, Garibaldi has sufficient resources to carry out an ambitious 2018 drill program which is supported by cutting edge geophysical surveys including BHEM (borehole electro-magnetics) which was a highly successful tool for us in 2017,” Regoci concluded.

    Eskay Camp Area Map

    To view the location of the E&L Project, Garibaldi’s other large landholdings in the Eskay Camp, and properties of all other companies in this prolific district, please visit GGI’s web site or the following URL:

    http://www.garibaldiresources.com/i/photos/king/GGI-Aug-25-Eskay-Camp-Area-Map.jpg

    Qualified Person

    Mr. Everett Makela, P.Geo., Director/VP Exploration Canada for the Company, and a qualified person as defined by NI-43-101, has reviewed and approved the technical disclosure in this news release.

    About Garibaldi

    Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.

    GARIBALDI RESOURCES CORP.

    Per: “Steve Regoci”

    Steve Regoci, President & CEO

    Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.

    View original content:http://www.prnewswire.com/news-releases/garibaldi-targets-new-massive-sulphide-zones-at-nickel-mountain-as-2018-drill-program-begins-300662500.html

    SOURCE Garibaldi Resources Corp.

    © 2018 Canjex Publishing Ltd. All rights reserved.

    Comment by John - BMR — June 8, 2018 @ 11:42 am

  6. CCW seems to be meeting some heavy resistance in the high 40s, doesn’t look like it will be pushed through just yet. perhaps the problem is cobalt prices taking a bit of a beating after that major run up

    Comment by TradingAgent — June 8, 2018 @ 12:40 pm

  7. CCW – when will people learn not to put market orders in!!!!!!

    Comment by Jeremy — June 8, 2018 @ 12:53 pm

  8. Strange trading in the last 20 minutes on CCW, Jeremy, but closed up for the day at 47 cents on great news…interesting to note that Scotia dumped (market sell order) about 30 K worth of CCW within minutes near end of session and around the same time bought about 30 K worth of GGI…if there’s a connection there, amazing how some people trade…

    Two rigs to begin drilling at Nickel Mountain…awesome!…

    Comment by Jon - BMR — June 8, 2018 @ 1:12 pm

  9. Any idea how far down GGI is targeting these massive sulfides?

    Comment by BigBid — June 8, 2018 @ 1:31 pm

  10. Well, we know the massive sulphides at the discovery zone begin around 120 meters, BigBid…that’s notable because the old VTEM likely couldn’t detect below 100 m depth…massive sulphides could certainly extend to much greater depths, and Lightfoot also talked about drilling as deep as about 700 meters in the early going on a hole or two for a geophysical probe…

    Comment by Jon - BMR — June 8, 2018 @ 1:41 pm

  11. Love all the green today! What a great way to start the weekend 😊

    Comment by Ciara — June 8, 2018 @ 1:44 pm

  12. Yes good news their drilling, heck, we may even see some results by the end of June, have a safe trip up there Jon…..

    Comment by Laddy — June 8, 2018 @ 2:16 pm

  13. CCW – the last trade of 10K went from 425 to 47… cannacord.. maybe they are protecting the price:)

    Comment by Jeremy — June 8, 2018 @ 3:47 pm

  14. That’s actually not how it went, Jeremy, because you’re not taking into account the alternative markets…went 0.42, 0.435, 0.44, 0.445, 0.47 – a simple case of someone putting in a market sell order (raising cash to flip into another play it looks like) and then bargain hunters quickly stepping in…

    Comment by Jon - BMR — June 8, 2018 @ 3:52 pm

  15. Jon – true enuff… I was strictly looking at the venture:( … just too focused:)

    Comment by Jeremy — June 8, 2018 @ 4:38 pm

  16. MOON traded 445 thousand shares and IMR traded 175 thousand shares. Something up on both of these plays as well.

    Comment by Ed — June 9, 2018 @ 11:38 am

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