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September 19, 2018

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 $1,200 and $1,207 so far todayas of 7:00 am Pacific, bullion is up $5 an ounce at $1,203net-short positions in Gold are still at a very high level, and momentum in the U.S. Dollar Index appears to be waning, so the metal is looking better than it has in quite a while…bullish signs are also appearing in the TSX Gold Index…Silver is up 7 cents at $14.21Copper is flat at $2.75…Nickel and Zinc continue to rally, at $5.75 and $1.09, respectively, while Cobalt is steady at $28.46…Palladium has regained the $1,000 level and Rhodium has quietly continued its march higher, now north of $2,400Crude Oil has climbed another 35 cents to $70.20…Oil prices have been given a boost thanks to heightened geopolitical tensions after Russia (of course) blamed Israel for the loss of one of its reconnaissance planes shot down by Syrian defense systems…the U.S. Dollar Index is relatively unchanged at 94.59

2. Big Pharma is coming:  Pharmaceutical companies have to start thinking about partnering with cannabis companies as a “hedge” against the burgeoning marijuana industry, Brendan Kennedy, the CEO of medical cannabis producer Tilray (TLRY, NASDAQ) stated on CNBC…the stock is up nearly 40% in early trading, surging $56.57 a share to $211.65“They have to hedge this,” Kennedy told “Mad Money” host Jim Cramer in an exclusive interview.  “Cannabis is a substitute for prescription painkillers, prescription opioids, and so if you’re an investor in a pharmaceutical company or you’re a pharmaceutical company, you have to hedge the offset from cannabis substitution”the CEO said the same goes for alcohol producers, some of which, namely Constellation Brands (STZ, NYSE), have already begun to invest heavily in marijuana companies…“I think all the alcohol companies need to enter this industry. It’s a great hedge for them,” Kennedy told Cramer…“Whether you’re an alcohol company or an investor in an alcohol company, this is a global opportunity”

3. Kirkland Lake Gold (KL, TSX, NYSE) has released new high-grade results from ongoing underground drill programs at its Fosterville mine in Victoria, Australia…drilling continues to target down-plunge extensions of Swan mineral Reserves with results providing confirmation of the geological model and continuity of high-grade, visible Gold-bearing mineralization on the Swan structure…results from 19 new drill holes, totalling 6,482 m, outside of the Measured and Indicated resources in the Swan zone as of the end of 2017, continue to return intervals of exceptionally high grades with visible Gold (7.45 m @ 289 g/t Au including 2,857 g/t over 0.75 m; 11.9 m @ 155 g/t Au including 1,566 g/t over 1.1 m; 3.55 m @ 423 g/t Au including 760 g/t over 1.95 m)…rich quartz veins extend at least 200 m down plunge from current Reserves…Tony Makuch, President and CEO of Kirkland Lake, commented:  “We are quickly establishing Fosterville as a new, world-class Gold camp, with the new drill results at Swan being the latest indication that there is much more to be found in terms of mineral Reserves and mineral resources…with the new results, we are increasingly confident that our upcoming December 31, 2018, mineral Reserve and mineral resource estimates will include a considerable increase in mineral Reserves in the Swan zone and a higher overall average grade and increased mineral Reserve base for the Fosterville mine as a whole”…meanwhile, KL says it has upped its stake in Osisko Mining (OSK, TSX) by acquiring some 14.7 million common shares through private placement financing at $1.70 per share for a total of $25 millionKL now owns 13.6% of Osisko

4. Orca Gold (ORG, TSX-V) has increased Indicated and Inferred resources to 3.3 million ounces and 711,000 ounces, respectively, for its Block 14 Gold Project in Sudan…the updated estimate will form the basis for the Feasibility Study due in November…the Indicated resource for the Galat Sufar South (GSS) and Wadi Doum deposits comprises 79.9 million tonnes grading 1.3 g/t Au for 3,342,000 ounces, while the Inferred resource is 18.5 million tonnes grading 1.2 g/t for 711,000 ounces of Gold (cut-off grade is 0.6 g/t)…notable intercepts from the 2018 resource expansion drilling program include 123 m @ 1.96 g/t Au, 78 m @ 1.92 g/t, 68 m @ 3.48 g/t, and 50 m @ 3.05 g/t…“The drilling completed in 2018 has been specifically aimed at developing mineral reserves as part of the Feasibility Study,” stated Orca CEO Richard Clark.  “Given the increase in the scope of the Block 14 Project, driven by the 2017 discovery of a major fresh water aquifer system and the successful resource drilling campaigns, we expect to see a significant positive change in the scale and scope of the project with the delivery of the Feasibility Study in November.  Exploration will now focus on the expansion of high-grade zones identified at Wadi Doum towards further enhancement of the economics and production potential at Block 14 and drill testing of additional high-grade targets previously identified.  Block 14 has exceeded our expectations and continues to demonstrate that it has a lot more to offer.  The delivery of our Feasibility Study will establish the initial economics of this project and will form the base for further growth of this exciting Gold camp”

5. The Dow has jumped 129 points through the first 30 minutes of tradingin Toronto, the TSX has gained 26 points…Aurora Cannabis (ACB, TSX) is looking at listing shares on a major U.S. stock exchange in October, according to one of its executives quoted in a Financial Post article…such a move, of course, would continue to broaden the scope of Aurora’s would-be investors, including U.S. institutional players, not all of whom are able to trade in OTC-listed securities…the Venture has eased off 2 points to 722 as of 7:00 am PacificChemesis International (CSI, CSE), one of our favorite new marijuana plays, has hit a fresh high of $1.24 in early trading…also on the CSE, Cannabix Technologies (BLO, CSE) is showing renewed technical strength with the stock up a dime at $1.92Canada Cobalt (CCW, TSX-V) has reversed higher after a healthy retrace of 50% of its big move from May to the end of July, setting the stage for a powerful new wave to the upside for the world’s top-performing Cobalt play in 2018…privately-held Battery Mineral Resources, funded out of New York Australia, is focusing its Northern Ontario Cobalt Camp strategy on its claims bordering Canada Cobalt with Battery having launched a major program within just 300 m of CCW’s Shaft #3…meanwhile, CCW continues with 2 separate drill programs (underground and at surface in a potential new discovery area east of the mine)…Cornerstone Metals (CCC, TSX-V) reported this morning that Phase 2 RC drilling continues at its Carlin Vanadium Project in Nevada with a total of 33 drill holes completed to date…2 drill rigs are currently turning on the property, to infill and expand the deposit, and plans are to complete approximately 60 holes before the end of September…initial assay results are expected shortly…the Carlin Vanadium deposit is considered one of the largest, highest grade primary Vanadium deposits in North America, according to a 2017 report from the USGSSokoman Iron (SIC, TSX-V) has started preparations for a 10,000-m Phase 2 drill program utilizing 2 rigs at its Moosehead Project in Newfoundland…at least 50% of the proposed meterage will focus on the Eastern and Western Trends to follow up and expand on results from Phase 1 drilling that turned SIC into a quick 10-bagger…the stock is at 17.5 cents this morning, trading just above very strong support in the mid-teens…

6. Marathon Gold (MOZ, TSX) has cut new wide and continuous intervals of Gold mineralization at open-pit depths in both the footwall and hangingwall margins of the main mineralized corridor of its Marathon deposit, including 105 m grading 1.41 g/t Au…current infill drilling is expected to decrease the open- pit strip ratio and move Inferred material into the Measured and Indicated categories as the company moves toward a Feasibility Study.  “These great Gold intercepts (reported this morning) are expected to add significantly to the upgrading of the next Marathon resource update,” stated Phillip Walford, President and CEO of Marathon Gold

7. Australis Capital (AUSA, CSE) commenced trading on the Canadian Stock Exchange (CSE) this morning, following the completion of the distribution of common shares and warrants of Australis by Aurora Cannabis to its shareholders…“The Australis team is excited to begin trading today and grateful to our friends at Aurora Cannabis as the genesis to what will be a compelling and complimentary U.S. mandate,” stated Scott Dowty, CEO of  Australis. “We are laser focused on creating shareholder value through disciplined execution, operational expertise and a go-to-market strategy fueled by defined growth vectors”Australis Capital will be focused predominately on opportunities in the United States…investments may include but are not limited to equity, debt or other securities of both public and private companies, financings in exchange for royalties or other distribution streams, and control stake acquisitions…

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1 Comment

  1. BHS–Bayhorse Silver Trading Halt called by company pending news. 43-101 coming now and numbers will be very good. Mine ready to mine in 24 hours or sooner.

    Comment by Carl — September 19, 2018 @ 5:26 pm

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