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1. Gold has traded between $1,191 and $1,199 so far today…as of 7:00 am Pacific, bullion is flat at $1,197 an ounce as investors continue to digest strong U.S. economic data…another bullish contrarian sign – money managers resumed building bearish positioning in Gold and Silver futures during the most recent reporting week for data compiled by the Commodity Futures Trading Commission…Silver is up slightly at $14.18…notably, the “smart money” commercial traders have dramatically scaled back their net-short Silver positions…Copper is off modestly at $2.67…Nickel has rebounded 4 cents to $5.62 while Zinc is off a penny at $1.09…Cobalt is steady at $28.35…Crude Oil has climbed 70 cents to $68.45…statistics show that Iranian Crude exports are declining ahead of a November deadline for the implementation of new U.S. sanctions…although many importers of Iranian Oil have said they oppose sanctions, few seem prepared to defy President Trump…the U.S. Dollar Index, continuing to encounter resistance around 95.50, is off nearly one-third of a point at 95.08…

2. The value of multiple blends of Canadian Oil fell sharply last week, relative to the U.S. benchmark West Texas Intermediate, due in part to the fact that railway shipments (we urgently need more pipeline capacity!) are unable to keep pace with rising production…Western Canadian Oil inventories rose 4.3 million barrels to a record high of 36.3 million barrels the week ended August 31, according to research firm Genscape…the widening Canadfa-U.S. price differential has been particularly frustrating to domestic Oil companies at a time when the sector is digesting the Trans Mountain pipeline fiasco…National Energy Board data shows Oil-by-rail shipments from Canada rose to over 200,000 barrels per day in July  – a fresh all-time-high (environmentalists think that’s good?) – but a level that is still short of what’s needed to clear out the glut of Oil in Western Canada…

3. GT Gold (GTT, TSX-V) has confirmed a major new Gold-Copper porphyry discovery at Saddle North in Northwest B.C.’s Red Chris district, drilling 430 m grading 0.67 g/t Au, 0.41% Cu and 0.89 g/t Ag (1.3 g/t AuEq) within a whopping broader interval of 822 m grading 0.42 g/t Au, 0.26% Cu, 0.62 g/t Ag (0.82 g/t AuEq)…this was the first Saddle North drill hole of the 2018 season and it’s a “monster”, intersecting sheeted vein, vein stockwork and disseminated style Au-Cu-Ag mineralization, centered on a monzodiorite intrusion with common strong potassic alteration…drilling continues at Saddle North and assays are pending for 3 additional holes – all of which have intersected the steeply dipping tabular intrusion, indicating a strike length of at least 400 m and true widths in excess of 700 m…the system remains open along strike in both directions and at depth, with mineralization increasing with depth…geophysics indicates a possible strike length in excess of 1 km…the porphyry is the source of the high-grade Gold system adjacent to Saddle North at Saddle South, where one of the latest holes intersected 40.9 m grading 9.5 g/t Au at a depth just below 500 m…Saddle South is an off-shoot of a huge intrusive complex that may contain millions of ounces of Gold (plus a lot of Copper)…GTT gapped up to 76 cents at the open and is up 28 cents at 80 cents through the first 30 minutes of trading on high volume…this is the most important discovery in Northwest B.C. since Garibaldi Resources (GGI, TSX-V) drilled into the region’s first magmatic Nickel-Copper-rich sulphide system last fall, and the most significant porphyry discovery since Red Chris more than a decade ago…what’s different about Saddle North is that there’s a Gold deposit right next to it…technically, a breakout above key resistance at 90 cents could send GTT soaring…

4. China’s trade surplus with the United States widened to a record in August even as the country’s export growth slowed slightly, an outcome that could push President Trump to turn up the heat on Beijing in their cantankerous trade dispute…the politically sensitive surplus hit $31.05 billion in August, up from $28.09 billion in July, customs data showed over the weekend, surpassing the previous record set in June…over the first 8 months of the year, China’s surplus with its largest export market has risen nearly 15%, adding to tensions in the trade relationship between the world’s two largest economies…China’s annual export growth in August moderated slightly to 9.8%, the data showed, the weakest rate since March but only slightly below recent trends…

5. The Dow is up 82 points through the first 30 minutes of trading…the NASDAQ, coming off its worst 4-day start to September since 2008, is up 8 points at 7,911…in Toronto, the TSX is 36 points higher…Canopy Growth (WEED, TSX) hit has hit another new all-time in early trading, pushing past $69 per share…the Venture has shot up 11 points to 723…key nearest resistance is 730…the support band beginning at 710 held last week and a big September does appear to be in the cards, especially if more companies deliver strong drill results…the fact that Canada Cobalt (CCW, TSX-V) has become the first junior in Canada during this “battery arms race” to produce a Cobalt sulphate product from its own mineralized material (skipping the refinery process!) is sure to be a big topic of discussion at the “Green Mining Conference” in the heart of the Northern Ontario Cobalt Camp Wednesday, Thursday and Friday…we’ll be going into more detail on this later in the week, but CCW’s Re-2OX process is not limited to just mineralized material from the Castle mine – it has district-wide applications as it represents a potential game-changing solution to the district’s arsenic issue…meanwhile, CCW could be one of the next “discovery plays” with 2 drill programs currently in progress at the company’s Castle mine and property near Gowganda…

6. Elsewhere in Northwest B.C., assays from the 2nd and 3rd drill holes at Golden Ridge Resources’ (GLDN, TSX-V) Williams’ zone at its Hank Property have delivered strong Cu-Au porphyry mineralization with numbers similar to the initial discovery hole reported August 14…HNK-18–002 intersected 276.1 m grading 0.31% Cu, 0.24 g/t Au and 2.3 g/t Ag, while HNK-18–005 returned 326 m @ 0.29% Cu, 0.36 g/t Au and 1.9 g/t Ag…the strongest grades in both holes reported this morning occur to the east, adjacent to a north-northeast striking fault which appears to have dissected a portion of the higher-grade mineralization…the current geological interpretation suggests that the rocks east of the fault have been offset downwards relative to the west side and that potential exists for additional high-grade mineralization below the phyllic alteration east of the fault…additional IP lines are currently being surveyed and preliminary chargeability data support the interpretation of deeper mineralization in the eastern block….Golden Ridge says it has completed its 2018 drilling at Hank (6,731 m, exceeding its originally planned budget), which helps explain the pullback in the stock this morning…the company intends to acquire more IP data and that information, along with all the remaining pending assays, will be reviewed before proceeding with additional drilling (next year)…Chris Paul, Vice President of Exploration for Golden Ridge, commented:  “The continuity of grade and thickness at the Williams Zone is very encouraging, as are the increasing grades toward the east.  The abrupt change in grade across the fault to the east suggests a portion of the high grade has been displaced, possibly downwards, and the true thickness and grade of the Williams is yet to be seen. Drilling to the northeast in HNK-18–013 has revealed more of the strongly mineralized hanging wall east of the monzonite, which is also dissected on its eastern side”…

7. With Team Trudeau, the social engineer crusaders, obsessed with “climate change” and gender issues, is it any surprise that Canada lost 50,000 jobs last month while the booming Trump economy added 200,000?…Trudeau, like his father before him, has wreaked havoc across the Canadian Oil and gas sector, even complaining that our energy industry is “gender imbalanced” and in need of regulations (Bill-69) to fix that apparent problem…what’s imbalanced is the thinking of our federal government, now far to the left of any previous Canadian government at the national level since the 1970’s as it fully embraces failed Obama-era policies that contributed to an under-performing U.S. economy…in anticipation of another G-7 meeting to be held this month in Halifax, on the now predictable Canadian themes of “Climate Change, Oceans and Clean Energy”, Canada’s Minister of Natural Resources, Armarjeet Sohi, has stated this:  “Canada is leading by example to address the issue of gender equality in the G7 energy agenda.  We will continue to engage key private sector and public sector leaders on this important issue and take actions to improve gender equality, particularly in the energy sector.  We want to influence current and future leaders of Canadian industry to commit to meaningful action in the area of gender equality”…this unhealthy obsession with “gender” was front-and-center in the Liberals’ February budget when “gender” was mentioned at least 154 times while the word “pipeline” was nowhere to be found…good grief, how about first trying to make the energy sector in this country work properly, which includes easing the current regulatory burdens and getting new pipeline capacity built?…

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