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7 @ 7:00 - BullMarketRun.com

April 3, 2019

7 @ 7:00

Visit the BMR comments section throughout the day for updates and helpful information!

1. Gold has traded between $1,288 and $1,295 so far today…as of 7:00 am Pacific, bullion is off $an ounce at $1,290…Silver is 4 cents lower at $15.04…base metals have firmed up on encouraging news regarding China…Nickel has jumped 11 cents to $6.06, Copper has added 2 cents to $2.93 while Zinc has also added a couple of pennies to $1.36…Cobalt is on the rebound, up 91 cents at $14.52…Crude Oil has gained another 12 cents to $62.70 while the U.S. Dollar Index has pulled back one-fifth of a point to 97.17…some weaker than expected economic numbers out of the U.S. this morning…growth in the services sector last month was at its slowest pace in more than a year…the ISM non-manufacturing index fell to 56.1 in March, down from 59.7 in February…economists polled by Refinitiv expected the index to dip to 58“The non-manufacturing sector’s growth cooled off in March after strong growth in February,” ISM noted in a statement…“Respondents remain mostly optimistic about overall business conditions and the economy.  They still have underlying concerns about employment resources and capacity constraints”…meanwhile, U.S. job growth based on numbers from ADP and Moody’s Analytics hit an 18-month low in March…private payrolls increased by just 129,000 for the month, well below the 173,000 that economists surveyed by Dow Jones had expected…the weakness was offset somewhat by an upward revision for February, which went to 197,000 from an initially reported 183,000…overall, though, March was the worst month since September 2017, which saw an increase of just 111,000…the Labor Department reports non-farm payrolls Friday…another breathtakingly insane economic idea from a radical U.S. Democrat..Senator Ron Wyden, D-Ore., is proposing a so-called mark-to-market version of the capital gains tax…put more simply, investors would pay capital gains taxes each and every year in which their assets go up in value, instead of only when they are sold…this tax on unrealized gains would be not only difficult to implement but also could devastate markets, especially liquid markets, where stocks, bonds and commodities trade…the annual tax would also apply to illiquid investments like the value of a private company, real estate and other complex investments…

2. World stocks are at their highest in 6 months after data overnight showed the China services sector hit a 14-month high in March…the report, which helps to allay fears about a global economic slowdown, comes on the heels of upbeat manufacturing data in China…comments from White House economic adviser Larry Kudlow yesterday that the U.S. and China “expect to make more headway” in trade talks this week have fired up hopes of a resolution to the months-long trade battle between the world’s 2 biggest economies…

3. Caterpillar (CAT, NYSE), considered a bellwhether for the global economy, came under pressure at the open this morning but has started to rebound after Deutsche Bank downgraded the maker of earth movers and other construction equipment based on a bearish view of the global economy…“Synchronized global growth has collapsed, the China Land Cycle is rolling over (and will continue to weaken despite the single positive data point this week), Europe is slowing more than expected and the U.S. is oversaturated with construction equipment.  Each of these factors alone are powerful drivers of CAT’s earnings, but together this synchronized slowdown will not only usher in a negative earnings revision cycle, but also make 2019 the cyclical peak”…hmm…on a more positive note, IMF manager director Christine Lagarde says the Federal Reserve’s “more patient pace of monetary policy normalization” will provide some thrust to global growth in the 2nd half and into 2020…however, years of high public debt and low interest rates since the financial crisis a decade ago have left limited room in many countries to act when the next downturn arrives, so countries need to make smarter use of fiscal policy…

4. The Dow is up 15 points through the first 30 minutes of trading…in Toronto, the TSX has added 41 points while the Venture has slipped 1 point to 625 as it continues to hug its rising 50-day moving average (SMA)…Alamos Gold (AGI, TSX), which has been one of the top-performing Gold stocks this year, reported this morning that its Mulatos mine in Mexico produced its 2 millionth ounce of Gold in March…this milestone also marks the end of the 5% net-smelter-return royalty (NSR) that the operation has been paying since the start of production in 2005 (some people got very rich on that)…at the current Gold price, this represents a savings to Alamos of approximately $65 per ounce, which has already been incorporated into previously disclosed guidance…Corvus Gold (KOR, TSX) has drilled 41.1 m @ 2.8 g/t Au and 30.5 m @ 1.7 g/t Au, ending in 4.1 g/t, in separate intervals in ML19109 as it tests a deep intrusive zone below the existing Mother Lode deposit in Nevada…the new discovery is now outlining an intrusive related deep Gold zone below the main deposit which the company’s believes could offer additional resource expansion potential…further follow-up drilling will be testing this new lower Mother Lode zone over the next few months…

5. The Ford Conservative government in Ontario has a unique and terrific branding idea (the left wing mainstream media hates it) which underscores why investing in the Ontario resource sector is more attractive than ever…the government intends to use “Open For Business” as the new slogan on commercial licence plates…the slogan on plates for passenger vehicles will also be changed…“I can tell you that people across this province want change.  They voted for change, and they’re getting change,” Ford stated…”Yours to Discover” has been on Ontario plates for 37 years…“What we want to do is turn the channel; we want to turn the page on a dire economic situation that the Liberal government after 15 years of mismanagement left us in,” Government Services Minister Bill Walker said…“We want to ensure that Ontario says to the world, ‘We are back on stage’.  We’re looking at all kinds of different options to brand our province as open for business, open for jobs”

6. A new pot stock started trading on the CSE this morning – Vibe Bioscience (VIBE, CSE) also announced that, through its U.S. subsidiary, it has entered into a purchase agreement to acquire all of the membership interests in the outstanding securities of EVR Managers, LLC  which holds a license for an adult use cannabis retail operation located in Redding, California…completion of the Redding acquisition and necessary improvements to the Redding site will add a 3rd licensed, adult use recreational Cannabis dispensary to Vibe’s cannabis operations in California…upon completion, Vibe expects the Redding site to have the potential to generate up to $5.5 million (U.S.) in revenue during its first 12 months of operations based on management’s analysis of trends, current conditions and expected future developments…Vibe describes itself as a vertically integrated cannabis company whose mission is to become a dominant California cannabis retailer and multi-state operator…VIBE opened at 97 cents and is trading at 85 cents as of 7:00 am Pacific

7. California Gold Mining (CGM, TSX-V), which is doing some interesting things with its Gold property in Mariposa county, has entered into a term sheet with Toronto-based alternative credit firm Romspen Investment Corp., outlining the terms of a secured credit facility to finance the development and operation of the company’s recently announced high-cannabidiol industrial hemp seed propagation project on its 100%-owned, 3,351-acre, privately held Fremont Property in Mariposa county…Vishal Gupta, CGM’s President and CEO stated, ”This credit facility provides us with the funding to finance the entire capital expense of developing the 27,000 square foot greenhouse, and a substantial portion of our first year’s operating expense related to the propagation of high-CBD industrial hemp seed on the Fremont Property. We are delighted to receive this endorsement as we enter the nascent industrial hemp space with a view towards creating shareholder value, while minimizing shareholder dilution”

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  1. Does FCC being able to produce a battery grade cobalt sulphate affect CCW and what they are doing? Or does this just show the huge potential that CCW has with their land package , mill, and Re-20x?

    Comment by tycoon777 — April 3, 2019 @ 9:09 am

  2. Tycoon777, from CCW’s perspective, the timing and content of FCC’s news is fantastic because it was certainly hinted at strongly in the last CCW news release about developments on the Re-2OX side that we should be hearing about soon…will be a very interesting comparison…anyway, the key thing to understand here is that Re-2OX bypasses the smelter process, and it extracts multiple metals…the FCC refinery that Trent Mell has been talking so much about the last few years has been an albatross around the neck of every previous operator – this is well documented, and people in the know in the Cobalt area will tell you the refinery simply doesn’t work…we’ve written in detail about this over the last couple of years…I’ve been within a few hundred feet of that facility but of course they won’t let anyone in…great to see the activity in FCC this morning (15 million shares, up sharply) because this only underscores how CCW is going to roar back in a very powerful way – Re-2OX is a superior solution…Cobalt prices also on the increase as well which is nice…

    Comment by Jon - BMR — April 3, 2019 @ 9:44 am

  3. Jon, thoughts on why no assays yet on the discovery east of the mine? Overdue in my opinion

    Comment by Dan1 — April 3, 2019 @ 12:03 pm

  4. Metallica singing Rihanna – https://www.youtube.com/watch?v=l1fIA-J1tYY – need some entertainment while waiting for assays.

    Comment by flyinthruu — April 3, 2019 @ 1:11 pm

  5. First off, Dan1, that was the case with the underground results and they turned out great – people mistakenly thought a delay meant bad numbers…there could be more to Castle East than just Gold…

    But here’s the more important point: Between the situation regarding Battery, and clues from today’s FCC news, there is something very big in the works IMHO related to CCW (outside of Castle East), specifically Re-2OX as well as tailings, which may have district wide consequences…Frank is focused and very strategic – if he’s quiet right now, he is quiet for a reason, so I trust his judgement. He didn’t turn CCW into the world’s top performing Cobalt stock by not knowing what he was doing. We have yet to see the highs in CCW because something really dynamic is going to play out here – a plan from the beginning is going to unfold…

    Just like last year at this time, many investors rattled by the current share price are completely oblivious to the opportunity that is before them and the blessing they could receive…funny how the market works, isn’t it, and how nervous nellies so easily get sucked out of their valuable paper…

    Comment by Jon - BMR — April 3, 2019 @ 4:18 pm

  6. I know Jon how fast CCW can turn. Yes, it happened last year around this time.

    Comment by Dan1 — April 3, 2019 @ 4:43 pm

  7. Interned for a Fortune 150 company in the Purchasing/Contracts part. Big boys play TOUGH. Small companies need to be super careful making deals. Dog eat dog and Frank has proprietary tech. He HAS to be very smart and strategic. Don’t want to rush this stuff…

    Comment by flyinthruu — April 3, 2019 @ 5:18 pm

  8. Jon
    rumour out there that you/BMR has been selling CCW, any truth to that?

    Comment by GREGH — April 3, 2019 @ 6:40 pm

  9. Absolutely false, Gregh, but of course much of what u read on bullboards is crap…it’s a dark world that is really best to avoid because a lot of investors get tripped up on it…in this case another pathetic attempt to shake out loose paper…we’ve seen that game played before, so it’s not surprising…the fundamentals of CCW have actually never been better and that’s why I am only adding to an already very substantial personal position – current levels are ridiculously oversold – and John and Daniel share the same view as well…watch how this plays out, it’s going to be fun…

    Comment by Jon - BMR — April 3, 2019 @ 7:00 pm

  10. Thank you Jon

    Comment by Gregh — April 3, 2019 @ 7:40 pm

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