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7 @ 7:00 - BullMarketRun.com

March 13, 2019

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 is trying to gain traction above $1,300 again…bullion has traded between $1,303 and $1,310 so far today, and is $7 higher at $1,308 as of 7:00 am Pacific…British Prime Minister Theresa May suffered another crushing defeat yesterday over her Brexit plans, plunging the country into turmoil only 17 days before it is due to exit the European Union…after 3 years of painstaking negotiations, Britain is no nearer to solving when, how – or even if – it will leave the EU…votes over the next 2 days might provide some clarity, but little certainty…Silver has added 5 cents to $15.46…Copper is up a penny at $2.96, Nickel is off slightly at $5.92 while Zinc is at a new 8.5-month high of $1.30…Crude Oil keeps climbing, up 89 cents at $57.76 while the U.S. Dollar Index has retreated one-fifth of a point to 96.78pipeline inflation pressures in the U.S. remain muted, and that’s a clear sign that the Fed won’t be increasing interest rates again anytime soon…the U.S. Labor Department said this morning that its Producer Price Index (PPI) rose a less-than-expected 0.1% in February, following January’s drop of 0.1%…economists were forecasting an increase of 0.2% for February…at the same time, core PPI, which strips out volatile food and energy costs, dropped 0.1% last month, following January’s increase of 0.1%…again, that was below expectations…this is the 3rd consecutive month core inflation has missed to the downside…

2. Atlantic Gold (AGB, TSX) has significantly increased total in-pit Measured and Indicated resources to 2.1 million ounces at its Moose River Consolidated mine in Nova Scotia following successful drilling campaigns at its Touquoy mine, Fifteen Mile Stream and Cochrane Hill deposits…at Touquoy, approximately 88,000 ounces in M&I were added from the 2018 drill program, which represents, net of mining depletion, an increase of 17%…at the FMS deposits, M&I in-pit resources jumped 47% to 676,000 ounces across 3 deposits…meanwhile, at Cochrane Hill, Atlantic Gold has increased M&I resources by 50% to 607,000 ounces with only limited inclusion of the newly defined easterly plunging higher grade shoots…these recently recognized zones require further testing through a proposed extension drilling program in 2019…the company earned $27.9 million in 2018 as it achieved 4 quarters of steady-state production in its first year of mining…all-in-sustaining costs were an impressive $731 per ounce (CDN) on total production of 90,500 ounces…

3.  David Sidoo, a prominent Vancouver philanthropist and CEO of Advantage Lithium (AAL, TSX-V), has been charged with conspiracy to commit mail and wire fraud in U.S. federal court for allegedly paying someone to take his 2 sons’ college entrance exams…Sidoo is part of a large indictment that made headlines yesterday and led to similar charges against actors Lori Loughlin and Felicity Huffman…U.S. prosecutors are calling it a “nationwide conspiracy”…in Sidoo’s case, the indictment alleges he paid someone $100,000 to take his oldest son’s SAT, an entrance exam required by most U.S. colleges and universities…Sidoo is a former UBC Thunderbirds’ football player who spent several years in the CFL…after his football career he became a stock broker in 1988, and was a founding shareholder of an Oil and gas company that was sold in December 2010 for over $600 million (U.S.)…his personal website describes him as “a successful businessman based in Vancouver where he oversees a successful private investment banking and financial management firm,” and he was awarded the order of B.C. in 2016

4. The Dow has jumped 130 points through the first 30 minutes of tradingGoldcorp (G, TSX) chairman Ian Telfer has become the target of investor wrath after it was disclosed he stands to pocket $12 million (U.S.) in Goldcorp’s sale to Newmont…that’s nearly 3 times what had been reported as Telfer’s retirement package before last week…after the steady deterioration in the company’s stock price over the past decade, it has Goldcorp investors spitting fire…”Preposterous,” is how Mackenzie Investments manager Benoit Gervais described the payment…the Shareholders’ Gold Council, formed by prominent institutional investors last year to agitate for more alignment of corporate performance and executive pay, blasted the windfall as “another showcase example of directors choosing cronyism over the interests of shareholders”…in Toronto, the TSX has gained 37 points…Aurora Cannabis (ACB, TSX) is pushing higher on news that it has appointed globally recognized business visionary and longtime activist investor Nelson Peltz as a strategic advisor…the company has granted Peltz options to purchase nearly 20 million Aurora shares…Peltz is the founder of Trian Partners and also currently serves as the non-executive chairman of The Wendy’s Company and as a director of The Procter & Gamble Company, Sysco Corp. and The Madison Square Garden Companythe Venture is up 2 points to resistance at 62348North Cannabis (NRTH, TSX-V) has slipped another 11 cents to $1.31 following news yesterday of a $25 million bought deal financing at $1.36 per share…NRTH has strong technical support in the $1.20’s, so current weakness represents opportunity…Superior Gold (SGI, TSX-V) has reported a loss of $13.3 million (U.S.) for 2018…while the company enjoyed record production of 90,101 ounces of Gold in 2018, and constructed a second mine at Hermes on schedule and on budget with internally generated funds, all-in-sustaining costs of $1,266 per ounce sold were high and need to come down…the company had working capital of $7 million at the end of December and no long-term debt…

5. Amex Exploration’s (AMX, TSX-V) drilling of the Eastern Gold zone (EGZ) at its Perron Project north of Rouyn-Noranda has successfully intersected additional high-grade Gold mineralization, though some profit-taking has pushed the stock down modestly on the news…drill hole PE-1931 cut 89.6 g/t Au over 1.15 m including 156.8 g/t Au over 0.65 m at a shallow vertical depth of only 85 m…meanwhile, drill hole PE-1933 returned 32.1 g/t Au over 7.20 m including 52.2 g/t Au over 0.5 m in the upper vein and 248.05 g/t Au over 0.8 m in the lower vein at a vertical depth of 245 m…the intersected mineralization, which is characteristic of the EGZ High Grade Zone (HGZ), consists of 2 Gold-bearing quartz veins located on either side of a narrow weakly mineralized mafic intrusive crosscutting a large unit of silicified rhyolite…these 2 quartz veins typically contain sphalerite, pyrite, and visible Gold as coarse grains, flakes, or specs…in addition to these results, the company says it has identified additional visible Gold in recently completed drill holes for which assays are pending…with the high grade results from PE-1931 and the visual geological indicators from PE-1932 ,it appears that the HGZ extends close to surface, and with the results from PE-1928, PE-1933, and earlier holes it appears that the HGZ is robust and high-grade laterally and to depth…the zone has now been intersected over a vertical distance of 225 m with a lateral distance of 25 m to 50 m pierce point to pierce point with a spacing varying from 25 to 50 m…the High Grade zone extends to a depth of approximately 280 m below surface and remains open towards surface, to depth, and along strike…

6. Chemesis International (CSI, CSE) announced this morning that its wholly-owned subsidiary, La Finca Interacviva-Arachna Med, has commenced the process toward large-scale cultivation in Colombia…the company, which received its seed producer licence in January, is now able to export its high concentrate CBD (cannabidiol) genetics as well as distillates and other manufactured products…with the initial harvest scheduled for the upcoming quarter, La Finca is poised for expansion into large-scale commercialization by the 4th quarter of 2019 after having accumulated over 1,060 acres through its farming co-op…obtaining the seed producer licence allows La Finca to develop its own genetics which is essential when quickly scaling cultivation…”This is a significant step forward for Chemesis and the team in Colombia,” said CEO Edgar Montero…“The seed producer licence not only allows the company to grow and harvest, but import and export cannabis derivatives and seeds.  The Chemesis team has been working very hard to see our long-term vision take shape, and we see the ability to commercialize worldwide as a significant step forward”

7. Not exactly a “pot of Gold” as governments across Canada expected…Ottawa has sent the first weed excise tax payments to the provinces without disclosing amounts, according to a Globe and Mail report this morning…the government was mum likely because the cheques were much smaller than expected…British Columbia is the only province to disclose its excise tax revenues – $1.3 million for October to December, 2018…it had expected $50 million total this fiscal year, but now will be lucky to get $3 million…other provinces have not disclosed their receipts…Manitoba did not even mention cannabis revenues in last week’s budget…for Q4, Statistics Canada says legal pot sales totalled $307 million…that means the federal government would have earned about $31 million in GST and excise taxes on cannabis for that period…at the end of 2018, black market sales still accounted for 80% of Canadian recreational cannabis purchases…streamlining the tax regime, and lowering the cost of the legal product, will be an important part of driving that share down…

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2 Comments

  1. A very long time ago I’ve told everyone i know that the legalization of pot will be a white elephant, not the way to grow an economy. We’ll see.!!

    Comment by Laddy — March 13, 2019 @ 11:19 am

  2. Hi Jon,

    PP for IMR Closed. More dollars for drilling and a institutional investor coming aboard. Was this the reason for the downwards pressure the last week or so? Would like to hear your take on the PP and IMR’s next moves. Thanks

    Comment by Vladdy — March 14, 2019 @ 9:22 am

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