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7 @ 7:00 - BullMarketRun.com

July 15, 2019

7 @ 7:00

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

1. Gold has traded between $1,410 and $1,418 so far todayas of 7:00 am Pacific, bullion is off $2 an ounce at $1,413…Silver has jumped 8 cents to $15.28…Silver ETFs have been posting heavy inflows in recent weeks, a precursor to a price breakout in the metal…“Holdings were topped up by 267 tonnes last week, by a good 540 tonnes since the beginning of the month, and even by over 1,000 tonnes since the start of June, when the inflows began,” stated Commerzbank…Nickel keeps pushing higher, up 3 pennies at $6.06…Copper has added 4 cents to $2.72 while Zinc is unchanged at $1.11…Crude Oil has slipped 7 cents to $60.14 while the U.S. Dollar Index is up slightly at 96.86…the New York Federal Reserve said this morning that its gauge of business growth in New York state recorded its biggest increase in more than 2 years in July, returning to positive territory to suggest regional activity was expanding again…the index’s increase reversed the prior month’s record 26-point drop that had stoked concerns about a sudden contraction in business activity across the state…

2. China’s economy grew at 6.2% year-on-year in the 2nd quarter, down from 6.4% in the previous quarter and its slowest pace since the early 1990’s as trade tensions with the U.S. hit investor sentiment…the Chinese economy will continue to face “downward pressure” in the 2nd half of this year, the country’s National Bureau of Statistics said in a statement…“The Chinese economy is still in a complex and grave situation,” it said…“Global growth has slowed and external uncertainties are on the rise”Beijing and Washington recently agreed to a temporary truce in their months-long trade battle and are planning to restart talks…White House trade adviser Peter Navarro said in an interview with CNBC on Friday that Trade Representative Robert Lighthizer will travel to Beijing with Treasury Secretary Steven Mnuchin in the near future…but many questions remain over whether the 2 sides can reach a deal to remove tariffs introduced over the past 12 months (and prevent new ones from being introduced)…Chinese officials might also be misreading the U.S. political situation, thinking Trump will lose in the 2020 elections…

3. Pakistan has been ordered to pay nearly $6 billion in damages by a World Bank arbitration court to Tethyan Copper, a joint venture between Antofagasta and Barrick Gold…the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) made the ruling in favor of Tethyan Copper back in 2017 but announced the amount in damages owed only just 3 days ago…the fine consists of a penalty totalling $4.08 billion and interest amounting to $1.87 billionTethyan Copper sought $11.43 billion in damages…the arbitration court is yet to release all the details about its ruling…the case centered on the massive Reko Diq Copper and Gold deposit discovered by Tethyan Copper more than a decade ago…it’s located at the foot of an extinct volcano near Pakistan’s border with Iran and Afghanistan…prior to an abrupt rejection of the company’s mining lease, Tethyan had completed a feasibility study showing that Reko Diq is one of the world’s largest undeveloped Copper and Gold deposits with a potential mine life of over 50 years and an estimated initial capital investment of over $3 billion (U.S.)…

4. First Majestic Silver’s (FR, TSX; AG, NYSE) total production in the 2nd quarter of 2019 reached 6.4 million Silver equivalent ounces, representing a 2% increase compared with the prior quarter…total production consisted of 3.2 million ounces of Silver, 33,576 ounces of Gold, 2.5 million pounds of Lead and 1.4 million pounds of Zinc…in the 1st half of 2019, total production reached 12.7 million ounces, or approximately 49% of the company’s guidance midpoint of producing 24.7 to 27.5 million Silver equivalent ounces in 2019“Our two primary assets, the San Dimas and Santa Elena mines, saw strong growth during the quarter, producing approximately 80% of our total metal production,” said Keith Neumeyer, President and CEO…“San Dimas continues to exceed guidance due to higher than expected grades and mining rates from the Jessica and Victoria veins.  At Santa Elena, the newly installed HIG mill is in its final commissioning stage and is expected to ramp up to reach design capacity of 3,000 tpd in the third quarter.  The HIG mill is anticipated to improve overall metallurgical recoveries and lower energy costs compared to traditional ball milling.  These two operations will continue to be a major focal point for future production growth and capital investments.  Last but certainly not least, I’m very proud to announce that in May we received Ermitano’s DTU permit.  This was the final permit required before initiating development activities at this high-grade Gold-Silver deposit near our Santa Elena mill.  Underground development activities are now expected to begin in the fourth quarter of 2019 with initial production in late 2020. Ermitano’s high grade resources are expected to significantly increase Santa Elena’s production profile and extend mine life for years to come”

5. The Dow is essentially unchanged through the first 30 minutes of tradingJ.P. Morgan has raised its 12-month S&P 500 forecast and told clients that the market is set for even more gains in the 2nd half as the Federal Reserve pivots toward easier monetary policy and the Trump administration looks to end an entrenched trade dispute with China…iToronto, the TSX is up 6 points while the Venture is flat at 576…the Canadian Marijuana Index is trying to rebound this morning after a brutal week in which it lost more than 10%, thanks in part to the CannTrust (TRST, TSX) scandal…according to Cowen & Co. analyst Vivien Azer, 52% of pot products are currently out of stock in Canada’s largest provinces, up slightly from June (governments can find a way to screw up anything)…CannTrust had the 4th-highest amount of product in the market after Canopy Growth, Aphria and Aurora Cannabis, meaning the shortages are likely to get worse before they get better…on the resource side, more hits in the Golden TriangleBrixton Metals (BBB, TSX-V) is a volume and price gain leader in early trading after reporting 554.7of 0.57 g/t Au, 0.24% Cu, 43.2 g/t Ag, 0.55% Zn and 0.28% Pb or 554.7 m of 1.97 g/t AuEq in drill hole THN-19150 at its Thorn Project in Northwest British Columbia…this included 136 m of 1.35 g/t Au, 0.31% Cu, 133.6 g/t Ag, 1.61% Zn and 0.89% Pb, or 5.00 g/t AuEq over 136 m…hopefully Brixton can effectively leverage the opportunity…BBB is up 2 pennies at 15 cents as of 7:00 am Pacific…CEO Gary R. Thompson stated, Brixton continues to unlock a mountain of value at the wholly-owned Thorn Project.  We are encouraged by the fact the hole exhibits an increase in mineralized porphyry clasts within the diatreme, which were not previously encountered.  The source porphyry to these mineralized clasts is yet to be discovered.  It is known that diatreme breccias and porphyry deposits tend to form in clusters.  The mineralized system at Thorn is huge; we need more drilling to prove up these zones.  Just to put this in perspective, there are 3 multi-kilometre targets on the property – the Chivas porphyry, the Camp Creek porphyry and the Outlaw sediment-hosted Gold target which are about 4 km away from one another”…drilling has extended the Oban Zone polymetallic mineralization to a depth of 651 m from the previously drilled vertical depth of 370 m for an increase of 281 m of new mineralization…

6. Chemesis International (CSI, CSE) has entered into a partnership with U.S.-based Happy Tea, a brand of CBD-(cannabidiol)-infused sachets and shots…this partnership allows Happy Tea to expand its product offering and realize cost savings by leveraging Chemesis’ extraction, finished goods manufacturing and retail distribution…Happy Tea currently offers 3 products including powdered drink mixes and flavoured oil shots comprising a blend of all-natural ingredients, antioxidants and are infused with 10mg of CBD…consumers can purchase these products individually or subscribe to monthly deliveries, which are shipped via the company’s e-commerce sales channels across the United States…Happy Tea will leverage Chemesis‘ multi-state operations to increase production capabilities and create retail brick and mortar exposure through the companies’ distribution networks…Chemesis has no Canadian exposure – it’s focused solely on the U.S., Colombia and Puerto Rico…

7The recent election of a Chinese official to a top U.N. organization is the latest sign of a steadily growing influence of China at the badly flawed world body – something the U.S. is viewing as a “concerted push” by China to advance its interests and authoritarian agenda abroad…Qu Dongyu, a Chinese government official, has been elected as the next director-general of the Food and Agriculture Organization, meaning that Chinese officials now run 4 out of 15 specialized U.N. agencies…the U.S. does not head any of the 15 agencies…the Chinese have been vigorously trying to expand their influence at the U.N. and other international organizations for a while now…the first Chinese national to head a specialized U.N. agency was at the World Health Organization (WHO) in 2007…Gordon Chang, an expert on China and East Asia, urged a more forceful response in facing China’s ambition, and warned that the U.S. is now in “an existential contest with the Chinese Communist Party.  That means we must, among other things, oppose at every turn China’s participation in U.N. bodies,” he said…

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7 Comments

  1. Now if CCW would get going in the right direction this could be one exciting and fun summer to remember!! GGI starting to get flash backs of 2017…

    Comment by gregh — July 15, 2019 @ 9:04 am

  2. Gold off a few dollars but Silver up 12 cents at $15.31…Silver is so close to a big breakout, gregh, and that’s why E. Sprott commented as he did about Silver stocks in his Friday radio program…historically, when Silver stocks catch fire, they really go nuts as there’s only a limited supply of primary producers and explorers…

    Comment by Jon - BMR — July 15, 2019 @ 10:57 am

  3. Update from BLO this morning…

    CANNABIX TECHNOLOGIES MAKES ADVANCES WITH MARIJUANA BREATHALYZER DEVELOPMENT AND THC BREATH CAPTURE

    Cannabix Technologies Inc. scientists have made significant advancements with analyte in breath capture and FAIMS (field asymmetric waveform ion mobility spectrometry) cell development. Cannabix scientists have been optimizing the breath / sample capture procedures and technology to maximize tetrahydrocannabinol (“THC”) analyte capture from human breath. THC is found in breath in generally low quantities. The Company has significantly improved sample collection methods using the breath collection unit (“BCU”) and other newly developed techniques. In addition, engineers have developed a proprietary next generation FAIMS cell that is currently being tested. The Company has been steadily progressing with human breath testing at its Vancouver, BC, based lab with its FAIMS THC detection device and BCU.

    Comment on Saliva Testing

    “We would like to make it clear that roadside saliva tests are not “breathalyzers” and do not represent the promise of breath testing for roadside marijuana impairment. It is apparent that existing saliva-testing devices are being used in some jurisdictions because no regulatory evidential breath testing devices currently exist on the market. Cannabix and our product development work is dedicated to the development of marijuana breathalyzer technologies. Saliva testing, also known as “oral swab testing” is not new technology and has been available for many years. There are well documented issues with saliva testing including its ability to effectively identify impaired individuals and operate in cold weather conditions, to name a few. There are a growing number of examples of the lack of confidence in saliva testing devices. In 2018, Vermont Senate Judiciary Committee rejected a bill authorizing the use of saliva testing in traffic enforcement, amid concerns of scientific validity, accuracy, and infringement on civil liberties. In 2019, a Nova Scotia woman initiated the first court challenge in Canada related to saliva testing, where she claims she tested positive for THC, several hours after she used medical marijuana. Most police detachments have not adopted saliva testing to date, opting for better technology options that are being developed.

    “Cannabix believes that an accurate evidential breath testing device for THC is the future for law enforcement and workplace testing, as it is less invasive and will look to provide superior method to better determine impairment. It is well documented that breath is a better indicator of impairment than saliva, blood, or urine because THC only remains in breath for short period of time (2-3 hours) before becoming virtually undetectable, whereas it can remain in other body fluids for many hours, days, or even weeks after smoking. This short time period of detection in breath aligns with the peak impairment window.

    “The Company has received significant interest for its technology from police and companies in the U.S., Canada and elsewhere. As the issue of drugged driving becomes increasingly acute, Cannabix is committed to using its technology, R&D and scientific experience to provide effective tools to aid law enforcement and help governments and the public transition to marijuana legalization in various jurisdictions. Cannabix is a well funded Canadian company that is rapidly developing its marijuana breathalyzer technology.”

    About Cannabix Technologies Inc.

    Cannabix Technologies Inc. is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix has established breath testing technologies in the pursuit of bringing durable, portable hand-held tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many global jurisdictions. Cannabix is working to develop drug-testing devices that will detect THC- the psychoactive component of marijuana that causes intoxication- using breath samples. In particular, Cannabix is focused on developing breath testing devices for detection of recent use of THC, in contrast to urine testing for THC metabolite that requires an invasive collection and reflects usage, days or even weeks earlier. The devices will also be useful for other practical applications such as testing employees in the workplace where impairment by THC can be hazardous.

    We seek Safe Harbor.

    Comment by Jon - BMR — July 15, 2019 @ 11:01 am

  4. BMR, any comments on videos like this? https://www.youtube.com/watch?v=V9hCcfWGF50 – supply crunch in silver with demand popping? Seem to jive with what you’re hearing? Not too many established silver juniors these days huh?

    Comment by Matty — July 15, 2019 @ 1:59 pm

  5. Silver breaking out, up 22 cents at $15.57…

    Comment by Jon - BMR — July 16, 2019 @ 6:57 am

  6. Hey Jon, any thoughts on BHS/Kent Exploration? I have been idling patiently a long time on this one!

    Comment by TJ — July 16, 2019 @ 8:13 am

  7. CLM builds out Burgundy Ridge ahead of drill mobilization next week…interesting terminology from Dr. Peter Lightfoot (“fluid highway”) suggests this system not only has grade but volume…

    Crystal Lake Outlines Large-Scale Copper-Gold-Rich System at Burgundy Ridge as Crews Prepare for Diamond Drilling

    Vancouver, British Columbia – (4:30 pm EST, July 16, 2019) – Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG-FF) (“Crystal Lake” or the “Company”) is pleased to announce that its ongoing Phase 1 exploration program has greatly expanded the target area at Burgundy Ridge, the newest drilling discovery in Northwest B.C.’s prolific Eskay Camp based on four shallow first-ever drill holes (reverse circulation) during winter conditions last fall (see March 7, 2019 news release).

    Crews will be mobilizing for the maiden diamond drilling program at Burgundy Ridge during the week of July 22 to aggressively broaden this discovery (high-grade copper plus gold, silver, cobalt and zinc) laterally and at depth.

    Highlights

    Mapping, prospecting, sampling and hyperspectral analysis have delineated a large 2 km x 2.5 km porphyry and skarn-style system open in multiple directions;

    The Burgundy Ridge system features multiple “hot spots” including a significant new surface discovery 600 metres west-southwest of October’s copper-gold-rich intersections – a k-spar epidote altered and brecciated intrusion containing disseminated copper sulphides in a high temperature alteration zone;

    High-grade mineralization at Burgundy Ridge occurs within breccias and intrusive dykes that are structurally controlled along the margin of a large dolomitic limestone body which has been intruded by a variety of porphyries (a 3-metre chip sample by Romios Gold in 2013, which should not be considered representative of mineralization in the target area, returned 5.1% Cu, 28.5 g/t Au and 89.7 g/t Ag).

    Dr. Peter Lightfoot, Crystal Lake Technical Advisor, commented: “The data increasingly suggest that there is large-scale development at Burgundy Ridge of alkaline porphyritic stockwork vein systems with breccias. These are very messy alkalic porphyries – exactly the right type of rocks – and they are associated with carbonate-bearing country rocks.

    “Tight correlations between copper and silver, copper and gold, and copper and cobalt are indicative of significant and coherent underlying mineralization processes at Burgundy Ridge, driven in part by an impressive fluid highway,” Dr. Lightfoot concluded.

    Newmont Lake Project General Update

    Crystal Lake will commence its 2019 drilling at the Burgundy Ridge discovery while highly prospective targets elsewhere throughout the 550 sq. km (55,000 hectare) project, including the newly-defined Chachi Corridor, continue to be systematically explored and advanced with details expected shortly as more data becomes available.

    To date, within the last six weeks, over 4,000 rock and soil samples have been collected throughout the project and have been shipped for assay (includes an intensive chip sampling campaign for hyperspectral vectoring);

    Lithological and alteration mapping on the highest priority prospects has been carried out by 35-year Golden Triangle veteran Marco Vanwermeskerken who mapped the Eskay Creek deposit pre-to-post discovery;

    A broad scale geophysics program, including both ground and airborne methods, will soon be launched by Wolcott & Associates Geophysical Services.

    Richard Savage, President and CEO of Crystal Lake, stated: “We are ready to leverage the hard work and expertise of our discovery-driven teams who have done a remarkable job to position shareholders for a summer to remember in the Eskay Camp. We’ve got the right people in the right area at the right time – drilling starts with bullseye targets at Burgundy Ridge to immediately expand the district’s newest discovery.”

    Qualified Person

    The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., VP Exploration for Crystal Lake Mining, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

    About Crystal Lake Mining

    Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.

    Comment by Jon - BMR — July 16, 2019 @ 1:46 pm

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