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October 3, 2017

The Template For The Next 10% Stake In Garibaldi Resources

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September 20, 2019

7 @ 7:00

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

1. Gold has traded between $1,498 and $1,508 so far today…as of 7:00 am Pacific, bullion is up $an ounce at $1,502…overall trading in Gold continues to point toward another price breakout in the not-too-distance future – the same with Silver which is up 2 pennies to $17.77…Palladium, on track for its 7th straight weekly gain, has hit a new record high…the auto-catalyst metal is in short supply with speculators and car producers gobbling it up…Nickel has jumped 18 cents to $8.06…this week’s news that the Philippines will suspend indefinitely operations in the Nickel mining hub of Tawi-Tawi province threatens supply from China’s 2nd largest ore supplier…the premium of LME cash Nickel over the 3-month contract has climbed to $150 a tonne, near the recent decade high of $163, indicating near-term tightness…the global Nickel market deficit widened to 6,700 tonnes in July from a revised 2,700 tonnes in the previous month, according to a report yesterday from the International Nickel Study Group (INSG)…Copper, Zinc and Cobalt are all steady at $2.61, $1.04 and $16.56, respectively…Crude Oil, poised for about a 7% gain this week, is 33 cents higher at $58.46 while the U.S. Dollar Index has added one-quarter of a point to 98.55

2. Fed division:  St. Louis Federal Reserve Bank President James Bullard says he argued for a deeper rate cut than his colleagues approved earlier this week because he fears that the economy is slowing and manufacturing “already appears in recession”…separately, Boston Fed President Eric Rosengren also explained his dissent, which came not because he wanted even lower rates but rather because the thought the central bank did not need to adjust rates at all…Rosengren said he worried that pushing rates lower risked inflating asset prices and household debt…the policymaking Federal Open Market Committee on Wednesday approved a 25 basis point cut that took the target range for the central bank’s overnight borrowing rate to 1.75% to 2%…

3. Struggling First Quantum Minerals (FM, TSX), the owner of Africa’s biggest Copper mine, is drawing preliminary takeover interest from global miners after losing half its value over the past 5 years, according to industry sources…the stock, which closed at $11.20 yesterday, has also dropped in value since the beginning of July when most producers have pushed higher…Vancouver-based First Quantum, which has a market capitalization of $7.4 billion, is working with defence advisers to examine its options, the Financial Post reported his morning…to date, the company hasn’t yet received any formal takeover offers…First Quantum controls the open-pit Kansanshi mine in Zambia, which has 340,000 metric tons of annual Copper production capacity…the company has been at loggerheads with the government of the southern African country over issues from royalty increases to the planned introduction of a sales tax…it also owns other assets around the world including the Sentinel Copper operation in Zambia, Las Cruces in Spain and the Ravensthorpe Nickel mine in Western Australia…First Quantum also started ramping up production at the giant Cobre Panama Copper development project in the central American country earlier this year…

4. Royal Nickel (RNX, TSX) is almost two-thirds of the way to the 1 billion mark for outstanding shares…the company has closed its previously announced bought deal financing, including the partial exercise of the over-allotment option, of 46,156,000 units at a price of 40 cents per common share for gross proceeds to the company of nearly $18.5 million…each unit consists of 1 common share in the capital of the company and 1/2 of a common share purchase warrant…each warrant shall be exercisable to acquire 1 common share at a price per warrant share of 50 cents for a period of 24 months from the closing date of the offering…the warrants are listed on the TSX under the symbol RNX.WTRoyal Nickel recorded July and August Gold production of 15,977 ounces…material processed during August comprised Beta Hunt mined material, mined material from the Baloo Stage I open-pit and run-of-mine stockpiles…

5. The Dow is up 57 points through the first 30 minutes of trading…in Toronto, the TSX has climbed 73 points while the Venture is 1 point higher at 586Garibaldi Resources (GGI, TSX-V), following a confirmed breakout above resistance in the low $1.80’s, pushed briefly above $2 intra-day yesterday…it is unchanged at $1.98 as of 7:00 am PacificStrategic Metals (SMD, TSX-V) has hit a new 52-week high of 55 cents while Barkerville Gold (BGM, TSX-V), on a 3-session winning streak, is closing in on its 52-week high…Amex Exploration (AMX, TSX-V) is up another 4 cents at $1.17 after releasing more encouraging drill results yesterday from the Gratien Gold zone at its Perron Property near Rouyn-Noranda, including 16.5 g/t Au over 14.6 m…4.9 m of that interval featured 47.7 g/t…the company has completed approximately 27,000 m during of its previously announced 25,000 m 2019 drilling campaign, and plans to drill an additional 15,000 m through the balance of the year for a planned total of 40,000 m using 2 drill rigs…this continued drilling will focus on expanding the Eastern Gold Zone (EGZ), the Gratien Gold Zone and the Grey Cat Zone…further to its most recently reported sales of about $60 million, Mission Ready Solutions (MRS, TSX-V) is up slightly after announcing that it has received additional contract awards valued at about $15 million, bringing the aggregate value of awards received to date during 2019 to about $75 million…Jeffery Schwartz, President and CEO of Mission Ready, stated, “We are thrilled to be able to deliver real, sustainable value to Mission Ready through the strategic and systematic implementation of our defined growth plan.  Each new award – big or small – represents another win for the company, both in supporting our war fighters and bolstering our position within the industry”

6. Benchmark Metals (BNCH, TSX) has intersected 5.4 g/t Au and 214 g/t Ag over 7 m core length within a broader interval of 25 m grading 2.8 g/t Au and 177 g/t Ag in the first drill hole result from the Amethyst Gold Breccia zone (AGB) at its Lawyers Property in north-central British Columbia…based on Benchmark’s results and historical data, the AGB Zone measures a minimum of 550 m in strike length and up to 30 m wide and extends to at least 170 m at depth…John Williamson, CEO, commented, “We intersected significant Gold and Silver mineralization with the first hole drilled at AGB in 27 years, since the past-producing Lawyers Gold-Silver Mine was closed.  This hole intersected high grades over significant widths and a wide 25 m envelope of alteration and mineralization, similar to the subparallel Cliffs Creek Zone 500 m to the west.  The discovery of significantly greater-than-historical mineralized volumes at AGB enhances the potential to add resources to the Lawyers Project, while AGB still remains open to the north and south. Historically, this area was under-explored, as with all zones across the entire Lawyers property, providing major opportunities to prove new Gold and Silver ounces”…the 1st drill hole was designed to test the continuity of the known high-grade mineralization at depth, below the southernmost historical workings and drilling at the AGB zone…the drill hole was a significant step-out from historical drill holes, both laterally (80 m) and vertically (60 m), extending mineralization at depth to over 170 m below surface and the mineralization remains open…BNCH, in the process of completing a $7.5 million financing that includes Eric Sprott, is off half a penny at 40 cents…

7. A radical global movement picked up steam today with students in Europe and Australia skipping school and workers walking off jobs to demand action on “climate change”…tens of thousands of people attended a protest in a central Sydney park, holding up homemade signs with slogans such as “You’re Burning our Future” and “There Is No Planet B”…in Berlin, demonstrators gathered by the landmark Brandenburg Gate, just a few steps from where Chancellor Angela Merkel’s government is locked in marathon talks to hammer out a multibillion-euro “climate protection package”…thousands are marching in Paris, London, Brussels and Warsaw, with similar protests planned in New York, Toronto and elsewhere in North America…protesters joining the Global Climate Strike movement want governments to treat global warming as an emergency, slash subsidies for fossil fuels, and switch economies to 100% renewable energy as soon as possible…they’re part of a worldwide series of demonstrations that organizers say will take place in 150 countries today and on September 27“As we deal with devastating climate breakdown and hurtle towards dangerous tipping points, young people are calling on millions of us across the planet to disrupt business as usual by joining the global climate strikes,” according to a statement on the organizers’ website…

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September 19, 2019

7 @ 7:00

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

1. Gold has traded between $1,493 and $1,505 so far today…as of 7:00 am Pacific, bullion is up $an ounce at $1,501 following yesterday’s Fed decision and Jerome Powell’s “We don’t know” news conference…Fed credibility continues to wane and that’s bullish for Gold…Silver has added 11 cents to $17.83…an exceptionally strong support band for Silver exists between $17.75 and $17.25…Nickel has gained 3 cents to $7.88…Copper and Zinc are each off a penny at $2.61 and $1.04, respectively, while Cobalt is steady at $16.56…Crude Oil is 67 cents higher at $58.78 while the U.S. Dollar Index has slipped one quarter of a point to 98.28…Fed Chairman Jerome Powell left the door open to additional cuts and repeatedly cited the costs of trade uncertainty in his post-statement news conference yesterday…however, central bank officials were split over the decision and the outlook for further reductions…“There will come a time, I suspect, when we think we’ve done enough.  But there may also come a time when the economy worsens and we would then have to cut more aggressively,” Powell stated…“We don’t know”President Trump tweeted, “Jay Powell and the Federal Reserve Fail Again.  No ‘guts’, no sense, no vision!  A terrible communicator!”…previously (he may attempt this again), Trump has ratcheted up the trade battle with China to squeeze the Fed further when it comes to interest rate cuts (lower interest rates, in his view, outweigh any negative short-term affects of difficult trade negotiations designed to fix a relationship that has been badly out of whack for many years)…Justin Trudeau’s problems continue to grow…Global News in Vancouver has released video this morning showing Trudeau in blackface, the 3rd instance of racist dress to come to light in 12 hours…it’s not clear when or where the video was taken, but the video, obtained exclusively by Global News, shows Trudeau covered in what appears to be dark makeup and raising his hands in the air while laughing, sticking his tongue out and making faces…it does not appear the video was shot at the same time and place of the other photos of Trudeau in racist make-up that have suddenly emerged…the resource sector would certainly cheer a change of government at the federal level, a scenario that now appears increasingly likely following the first week of the election campaign…

2. Gold and Oil bulls love this kind of talk:  Iran warned today that an “all-out war” could break out if any country attacks it following weekend bombings of Saudi Arabia’s Oil facilities that the U.S. and some allies believe Tehran orchestrated…earlier this week Saudi Arabia set out a timeline for a resumption of full operations at its Oil facilities, saying it had restored supplies to customers at levels prior to the attacks by drawing from its inventories…it said it would restore its lost production by the end of this month, and bring its output capacity back to 12 million barrels per day by the end of November…however, these plans suggest Saudi Arabia will have no spare capacity for at least the next 2-and-a-half months and therefore no way to absorb any further shocks…Saudi Arabia, the world’s leading Oil exporter, has said the attack on its Oil sites was “unquestionably sponsored” by regional rival Iran…a risk premium has come back into Crude…given how easy it now appears to be to damage Oil infrastructure and disrupt supplies (drones attacked Saudi Arabia), especially in volatile areas of the world, it’s insane that Canada would not do all that it could to produce and deliver as much Crude as possible to the world…the Oil-hating “save the planet” left wing mob is a threat to this country’s economic future…

3. U.S. and China deputy trade negotiators resumed face-to-face talks this morning for the first time in nearly 2 months as the world’s 2 largest economies try to bridge deep policy differences and find a way out of a bitter and protracted trade battle…negotiations today and tomorrow are aimed at laying the groundwork for high-level talks in early October that will determine whether the 2 countries are working towards a solution or are headed for new and higher tariffs on each other’s goods…a delegation of about 30 Chinese officials, led by Vice Finance Minister Liao Min, sat down with the American side this morning at the U.S. Trade Representative’s (USTR) office near the White House…the discussions are likely to focus heavily on agriculture, including U.S. demands that China substantially increase purchases of American soybeans and other farm commodities…2 negotiating sessions over the 2 days will cover agricultural issues, according to sources, while just 1 will be devoted to texts covering core changes to strengthen China’s intellectual property protections and end the forced transfer of U.S. technology to Chinese firms…1 of these sessions also will include a focus on President Trump’s demand that China cut off shipments of the synthetic opioid fentanyl to the United States…Trump is eager to provide new export opportunities for U.S. farmers, a key political constituency for the President…

4. The trade tiff between the United States and China has plunged global growth to its lowest levels in a decade, according to the Paris-based Organization For Economic Cooperation and Development…the OECD says the global economy risks entering a new, lasting low-growth phase if governments continue to dither over how to respond (the OECD is focused a lot on trade, but bloated governments around the world need to implement more pro-growth fiscal policies such as lower taxes and regulatory rollbacks)…the global economy this year will see its weakest growth since the 2008-2009 financial crisis, slowing from 3.6% in 2018 to 2.9% this year before a predicted 3% in 2020, the OECD said…the OECD’s outlook has taken a turn for the worse since it last updated its forecasts in May…“The global order that regulated trade is gone and we are in a new era of less certain, more bilateral and sometimes assertive trade relations”…trade growth, which the OECD says had been the motor of the global recovery after the financial crisis, has fallen from 5% in 2017 into negative territory now…meanwhile, it blames trade tensions for weighing down business confidence with global investment growth down from 4% 2 years ago to only 1%…

5. Newmont Goldcorp (NEM, NYSE), the world’s top Gold producer, says it offered $25 million in community investments and land rental fees to resolve a conflict at its Penasquito mine in Mexico, but activists say they are unsatisfied…operations at the open-pit mine located in northern Zacatecas state, which produced 272,000 ounces of Gold last year, have been suspended since last weekend because of a blockade by protesters…“We have made a very generous offer of social investment, but the blockade leaders are demanding hundreds of millions of dollars in cash for themselves,” stated Michael Harvey, director of external relations for Newmont Goldcorp Mexico…Felipe Pinedo, a local leader who has helped organize blockades of the mine in the past, denied Harvey’s allegation in a phone interview with Reuters“The problem isn’t an issue of money; it’s an issue of life,” said Pinedo…“The people here are clear: They will accept the projects but give us back our water”…he argued that the company’s spending in the surrounding Cedros community was a fraction of the profits from the mine that leave Mexico…the Newmont Goldcorp proposal put forward at negotiations with the community include a 30-year pledge to operate a water treatment plant, a 12-year deal to lease local land and the promise to invest in a production or infrastructure project, the company said in a statement…the mine directly employs more than 6,500 people, including 315 local residents, the company added…Penasquito accounts for about 17% of Newmont Goldcorp’s net asset value, according to a Scotiabank estimate from earlier this year…operations at the mine have been intermittent since March due to protests…some protest leaders said they wanted payment to compensate for damage to the local water supply…the mine was part of the portfolio of Goldcorp, whose acquisition by Newmont was completed in April to form the world’s biggest Gold producer…

6. The Dow is up 69 points through the first 30 minutes of trading…the S&P 500 has drawn close to a new record high as gains in Microsoft, AT&T and other technology companies offset what many investors considered an underwhelming decision by the Federal Reserve in the prior session…in Toronto, the TSX is up 56 points with Gold stocks leading the way…the Venture is off 1 point at 584Garibaldi Resources (GGI, TSX-V) has confirmed a technical breakout above importance resistance in the low $1.80’s as a series of key drill holes go into the Upper, Lower and “Lower Lower” Discovery zones at Nickel Mountain…Canada Cobalt (CCW, TSX-V) has opened 3 cents higher at 30 cents…hot on the heels of a recently completed financing, CCW is now ready to unleash a series of initiatives at its Castle mine and property in the Northern Ontario Silver-Cobalt where it’s the only company with underground access and an environmentally friendly tailings opportunity that has district-wide potential…Benchmark Metals (BNCH, TSX-V) has closed its business combination with PPM Phoenix Precious Metals Corp., thereby completing the acquisition of a 100% interest in the Lawyers Gold-Silver Project in north-central British Columbia…Benchmark made a cash payment of $250,000 and issued 12 million common shares to the former shareholders of PPM

7. Amex Exploration (AMX, TSX-V) is up in early trading after releasing more encouraging drill results from the Gratien Gold zone at its Perron Property in northwest Quebec near Rouyn-Noranda, including 16.5 g/t Au over 14.6 m…4.9 m of that interval featured 47.7 g/t…the company has completed approximately 27,000 m during of its previously announced 25,000 m 2019 drilling campaign, and plans to drill an additional 15,000 m through the balance of the year for a planned total of 40,000 m using 2 drill rigs…this continued drilling will focus on expanding the Eastern Gold Zone (EGZ), the Gratien Gold Zone and the Grey Cat Zone…the company initiated a drill campaign on Gratien utilizing the same targeting methodology that was applied to identify the bonanza grades at the EGZ…Gratien is located approximately 1.5 km from the EGZ and is a kilometer-long mineralized system comprising several zones of Gold mineralization…Victor Cantore, CEO of Amex Exploration, commented, “Our Perron property, which is of district-scale potential, continues to return very high-grade Gold intercepts across the project.  The results from the Gratien Zone indicate a very robust mineralized Gold system.  We look forward to continuing to define the potential of the known Gold zones on the project, as well as regional exploration of undrilled structures to the east, west, and north of the known 2.4 km highly mineralized corridor.  The Perron property hosts 2 faults, each measuring 7 km which are dramatically underexplored.  The exploration upside potential here is incredible”

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September 13, 2019

7 @ 7:00

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

1. Gold has traded between $1,496 and $1,510 so far today…as of 7:00 am Pacific, bullion is up $an ounce at $1,503…Silver has fallen 2 cents to $18.02…an exceptionally strong support band for Silver exists between $17.75 and $17.25…Nickel has retreated 14 cents but continues to hold the $8 level…Copper has hit its highest level in 6 seeks on an apparent thawing in U.S.-China trade relations (likely short-lived)…Copper is up 7 cents at $2.69…Zinc has added 2 pennies to $1.07 while Cobalt continues to push higher, up another 23 cents to its best level in more than 6 months at $16.56…Crude Oil has dipped 23 cents to $54.86 while the U.S. Dollar Index has slipped one-tenth of a point to 98.23…U.S. inflation remains muted, giving the Fed broad scope to reduce interest rates…the latest CPI numbers released yesterday came in lower than expected…euro zone bond yields rose to 6-week highs today as concern crept into the market that the ECB is reaching the limits of what its policy can achieve, a day after the bank pledged indefinite stimulus to boost a weak economy…investors had initially cheered the ECB’s rate cuts, open-ended asset purchases and steps to protect banks from the negative side-effects of sub-zero interest rates…but concern then grew over the emphasis at ECB chief Mario Draghi’s press conference on the need for fiscal stimulus to take over in boosting economic growth and inflation…several ECB officials cast doubt on the effectiveness of the measures today…Dutch central bank chief Klaas Knot said the stimulus package was disproportionate to current economic conditions and may be ineffective..

2. China plans to exclude American farm goods, including soybeans, from tariffs in the latest move to ease trade tensions before the 2 countries restart trade talks next month…the Chinese Ministry of Commerce said today that China welcomed President Trump’s decision to delay tariffs by 2 weeks and said it will exempt U.S. agricultural products such as soybeans and pork from additional tariffs…these farm goods add to 16 types of U.S. products that will be exempt from tariffs…the exemption will be valid for a year through to September 16, 2020…the move came after Trump said yesterday he would consider an interim trade deal with China, even though he would not prefer it…China’s agriculture buying has been 1 of multiple sticking points in the trade battle as Trump has repeatedly accused China of not following through on its promises…

3. One of the major sticking points on trade with China has been the communist country’s disregard of intellectual property protections and claims dating back years about rampant Chinese theft of corporate trade secrets…the allegations are not hyperbole, and for the first time the United States has a President taking a hard stand on this…1 in 5 North American-based corporations on the CNBC Global CFO Council says Chinese companies have stolen their intellectual property within just the last year…as the Trump administration works toward a potential trade deal with China, the issue of IP theft is a huge sticking point…the CNBC Global CFO Council represents some of the largest public and private companies in the world, collectively managing nearly $5 trillion in market value across a wide variety of sectors…the survey was conducted among 54 members of the council located across the globe, including the subset of North America-based chief financial officers…

4. U.S. consumers, who power two-thirds of the economy, remain strong: Retail sales increased more than expected in August, pointing to solid consumer spending that should continue to support a moderate pace of economic growth…compared to August last year, retail sales advanced 4.1%…they have increased for 6 straight months, the longest such stretch since June 2017…online sales continued to soar, rising 1.6%, roughly the same amount as in July when Amazon held its Prime Day…the report from the Commerce Department this morning could further allay financial market concerns of a recession, which have been fuelled by the mainstream media (hoping to derail Trump) and the U.S.-China trade battle…still, the Federal Reserve is expected to cut interest rates again next Wednesday to blunt some of the hit from a global economic slowdown…Fed Chair Jerome Powell said last week he was not forecasting or expecting a recession, but reiterated the central bank would continue to act “as appropriate” to keep the expansion, now in its 11th year, on track…the Fed lowered borrowing costs in July for the first time since 2008

5. The Dow is up 51 points through the first 30 minutes of trading…the index is headed for its first 8-day winning streak in more than a year, amid improving sentiment around U.S.-China trade relations…in Toronto, the TSX has added 81 points to a new record high…the Venture, which has climbed in 11 out of the past 15 sessions, has added 1 point to 590Garibaldi Resources (GGI, TSX-V), which closed near its high of the day yesterday following the latest robust drilling update from Nickel Mountain, gapped up at the open again this morning before pulling back slightly to $1.80 as of 7:00 am Pacific…the chart and fundamentals on the ground are clearly pointing to a near-term breakout through resistance in the low-to-mid-$1.80’s…Rob McEwen has taken a position in Crystal Lake Mining (CLM, TSX-V) which holds the largest land package among juniors in the Eskay Camp, including the new Burgundy Ridge Copper-Gold discovery and the 20-km-long Newmont high-grade Gold Corridor featuring the Gold-bearing McLymont Fault…McEwen has taken down one-third of a CLM $1.5 million private placement of hard dollar units at 30 cents, almost all of which closed yesterday…the stock is up 2.5 cents at 26.5 cents on strong volume through the first 30 minutes of trading…Skeena Resources (SKE, TSX-V) has jumped 4 cents to 43 cents…a week ago, Skeena released the first Gold-Silver drill results from is recently initiated Phase 1 surface drilling program at the Eskay Camp Project…2 surface drill rigs are infilling and upgrading areas of the Inferred resource to the Indicated category…results included 17.4 g/t Au and 113 g/t Ag over 17.4 m, and 19.9 g/t Au and 15 g/t Ag over 22.65 m…

6. Next Tuesday, September 17, Victoria Gold (VIT, TSX-V) will be hosting its first Gold pour, live streamed, at 8:15 p.m. EST on the company’s website (you can register to view the live webcast on the company’s website)…“The pouring of first Gold at Eagle is an important milestone and we are thrilled to share it with everyone,” stated John McConnell, President and CEO…“Looking back, this is the culmination of many years of dedication and hard work by numerous stakeholders.  Looking forward, this first Gold pour is expected to be swiftly followed by positive cash flow and we intend to grow production and resulting cash flow into the future”...VIT will also be featured on BTV Business Television this weekend as the network heads up to Canada’s Yukon for a special episode on the thriving mining community…PI Financial’s precious metals analyst, Chris Thompson, will weigh in on the excitement around Canada’s newest Gold mine…VIT has risen sharply since the end of July, trading at levels not seen since early 2017

7. Global Oil demand is weathering economic headwinds, the International Energy Agency (IEA) said today, buoyed by lower prices brought on by abundant supply as the U.S. briefly dethroned Saudi Arabia as the world’s top exporter…“With Oil prices currently about 20% lower than a year ago, there will be support for consumers,” the IEA said in its monthly report…“Booming shale production has allowed the U.S. to close in on, and briefly overtake, Saudi Arabia as the world’s top Oil exporter…in June, after Crude exports surged above 3 million barrels per day (bpd)“…the Paris-based agency maintained its estimate for growth in global Oil demand during 2019 at 1.1 million bpd and 1.3 million bpd for next year, assuming no further breakdown in U.S.-China trade talks and citing an easing of tensions around Iran…a rebound in U.S. production following Hurricane Dorian along with steep output growth from Brazil and the North Sea were set to drive production from outside OPEC up sharply, it added…

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September 12, 2019

7 @ 7:00

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

1. Gold has traded between $1,492 and $1,525 so far today…as of 7:00 am Pacific, bullion is up $19 an ounce at $1,516 thanks to more monetary easing in the euro zone…Silver has jumped 11 cents to $18.20…an exceptionally strong support band for Silver exists between $17.75 and $17.25 which was successfully tested earlier this week…Nickel is up 7 cents at $8.18 as the 7th annual Asian Nickel conferences wrap up in Jakarta…Copper and Zinc are steady at $2.61 and $1.05, respectively, while Cobalt has climbed another 34 cents to a new multi-month high of $16.33…Crude Oil has slipped $1.38 a barrel to $54.37 while the U.S. Dollar Index is off one-fifth of a point at 98.49…President Trump has agreed to delay an additional increase in tariffs on Chinese goods by 2 weeks “as a gesture of good will”…the move has raised hopes among investors of a thaw in trade frictions between the world’s 2 largest economies, but Trump’s negotiating style is such that the Chinese should be very careful – if they don’t make some concessions over the coming weeks, the President will likely slam them hard and then escalate the trade battle to further force the Fed’s hand to cut interest rates…that’s a very Gold-bullish scenario…Trump sees any negatives from China trade issues being more than offset by the prospect of lower U.S. interest rates…

2. Stimulus forever from the ECB!…the European Central Bank (ECB) has announced a massive new bond-buying program in a bid to stimulate the ailing euro zone economy…the central bank’s quantitative easing (QE) program will entail 20 billion euros ($21.9 billion) per month of net asset purchases for as long as it deems necessary…the ECB also cut its main deposit rate by 10 basis points to -0.5%, a record low but in line with market expectations…it now expects interest rates to remain at their present or lower levels until it has seen its inflation outlook “robustly converge to a level sufficiently close to but below 2% within its projection horizon, and such convergence has been persistent”…in a news conference following the decision, ECB President Mario Draghi urged governments to take fiscal measures to supplement the central bank’s monetary stimulus and reinvigorate the euro zone economy…“In view of the weakening economic outlook and the continued prominence of downside risk, governments with fiscal space should act in an effective and timely manner,” Draghi said…nothing in the euro zone will change until the problem of high taxes, bloated governments and red tape is fixed…

3. Garibaldi Resources (GGI, TSX-V) has drilled its best hole yet east of the historic E&L deposit at Nickel Mountain near Eskay Creek – 86.5 m grading 1.9% Nickel and 1.3% Copper (plus Cobalt and precious metals) starting just 65 m downhole, including 18.2 m @ 7% Nickel and 3.8% Copper near the bottom of the hole (true width estimated at 80%)…EL-1953 filled a gap in the northwest part of the Lower Discovery Zone (LDZ) which continues to build out…EL-1953 is truly spectacular Nickel sulphide mineralization, as Dr. Peter Lightfoot noted, but the most important part of this morning’s news was actually drill hole EL-1954 (assays pending) which cut a total of 142 m of mineralization including 8.9 m of massive sulphide…besides expanding the Upper Discovery Zone by 33 m to the west and the LDZ by 14 m to the west, EL-1954 has confirmed the existence of a 2nd magma chamber, dipping to the southeast, around a depth of 300 m…for the first time, geologists are stating that they could be closing in on the Nickel Mountain “feeder” zone…something huge (the “source”) had to drive the incredibly rich massive sulphides that have bled into the sediments near-surface at Nickel Mountain…strategic new platforms have been built to allow crews to crosscut the known zones (this should produce the widest massive sulphide intercepts yet) and more effectively explore for new zones, especially in a “feeder” area…meanwhile, the E&L system is now confirmed to contain 11 separate metals…Nickel Mountain massive sulphides are “unusually enriched” with Rhodium, Iridium, Osmium and Ruthenium based on an analysis from several holes completed in 2017 and 2018…a “pure” style of mineralization with optimal processing characteristics, as Dr. Lightfoot has often talked about, with 11 different metals – these are believed to be the richest and most unique Nickel sulphides ever found on the planet…GGI, also powered technically by rising moving averages including the 50 and 200-day (the 200-day has recently reversed to the upside, a bullish development), is up 8 cents at $1.74 through the first 30 minutes of trading…the last half of September should prove to be hugely significant for Garibaldi with some majors also rumoured to be showing strong interest in what’s now unfolding at Nickel Mountain…

4. Ero Copper (ERO, TSX) provided a quarterly update this morning on its continuing exploration drill programs at its Vale do Curaca Property and its NX Gold mine, both located in Brazil…exploration drilling during the period was focused primarily on expanding recently announced discoveries as well as infill drilling ahead of the company’s updated NI-43101 compliant technical report and mine plan for Vale do Curaca, expected to be completed early next quarter…high-grade massive sulphide mineralization continues to be encountered at the recently announced Siriema discovery, highlighted by hole FSI-42 that intersected 31.8 m grading 2.2% Copper including 5 m grading 5.6% Copper…near-surface drilling adjacent to the Vermelhos mine in the Vermelhos East Zone intersected 22.5 m grading 4.6% Copper including 8 m grading 7.8% Copper from 7.7 m downhole in hole FVS-418, one of the highest-grade intercepts drilled into the East zone to date…a grouping of holes in the Deepening Extension of the Pilar Mine intercepted high-grade mineralization, including the deepest known mineralized intercept drilled to date in hole FC47139 that intersected 7.1 m grading 6.5% Copper approximately 80 m below the previous known depth of mineralization at the Pilar mine…27 drill rigs are now operating throughout the Curaca Valley while 3 additional drill rigs are operating at the producing NX Gold mine to evaluate down-plunge extensions of vein systems…

5. The Dow is flat through the first 30 minutes of tradingin Toronto, the TSX is also relatively unchanged but there’s strength in the Gold sector…the TSX Gold Index has rebounded 8 points to 249 after finding support as expected around the 240 area…specifically, the main support band runs from 240 to the high 220’s…the Venture, which has climbed in 10 out of the past 14 sessions (though it doesn’t feel like it), is up 3 points at 590…the Index will gain traction to the upside once it’s able to conquer key resistance at 600Gold Standard (GSV, TSX), which got its start on the Venturehas released a PFS on its Railroad-Pinion Project in Nevada’s Carlin trend…key highlights include a pre-tax net present value (NPV) of $302.1 million (U.S.) at a 5% discount rate and an after-tax NPV of $241.5 million at a $1,400 Gold price and a $17.11 Silver price, with a mineral reserve pit design based on a Gold price of $1,250 per ounce and a Silver price of $15.30 per ounce…average annual production would be 156,000 ounces per year over an initial 8-year mine life with initial capital expenditures of $194 millionOceanaGold (OCG, TSX) has cut 85 m grading 11 g/t Au as infill and exploration drilling continue at its Haile Gold mine in South Carolina…

6. Gran Colombia (GCM, TSX) produced 18,710 ounces of Gold in August, bringing the company’s total for the first 8 months of 2019 to 155,359 ounces, up 8% over the first 8 months of 2018Gran Colombia’s trailing 12 months’ total Gold production at the end of August was 229,739 ounces, up 5% over 2018’s annual production…the company continues to expect that its annual Gold production for 2019 will range between 225,000 and 240,000 ounces…Lombardo Paredes, CEO of Gran Colombia, commenting on the company’s latest production results, said, “We remain on track to meet our increased production guidance for 2019.  In August, we successfully ran the Maria Dama plant at Segovia using its expanded capacity and our development programs have opened up new areas within our company mines to maintain the increased processing rate.  We are also making steady progress on our evaluation of the mine expansion opportunity at our Marmato Project and expect to file the preliminary economic assessment before the end of the year”

7. Global Oil demand is weathering economic headwinds, the International Energy Agency (IEA) said today, buoyed by lower prices brought on by abundant supply as the U.S. briefly dethroned Saudi Arabia as the world’s top exporter…“With Oil prices currently about 20% lower than a year ago, there will be support for consumers,” the IEA said in its monthly report…“Booming shale production has allowed the U.S. to close in on, and briefly overtake, Saudi Arabia as the world’s top Oil exporter…in June, after Crude exports surged above 3 million barrels per day (bpd)“…the Paris-based agency maintained its estimate for growth in global Oil demand during 2019 at 1.1 million bpd and 1.3 million bpd for next year, assuming no further breakdown in U.S.-China trade talks and citing an easing of tensions around Iran…a rebound in U.S. production following Hurricane Dorian along with steep output growth from Brazil and the North Sea were set to drive production from outside OPEC up sharply, it added…

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September 11, 2019

7 @ 7:00

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

1. Gold has traded between $1,486 and $1,495 so far today…as of 7:00 am Pacific, bullion is up $6 an ounce at $1,491 on this 18th anniversary of the 9/11 Islamist terrorist attacks that killed nearly 3,000 people…Silver is up 2 pennies at $18.00…an exceptionally strong support band for Silver exists between $17.75 and $17.25 with the metal touching $17.68 intra-day yesterday…Nickel is a penny higher at $8.24…the 7th annual Asian Nickel conference kicked off this morning in Jakarta, Indonesia, a fast-growing hub for the global Nickel market…the 2-day event brings together Nickel, stainless steel and NPI producers, end-users, battery makers, auto manufacturers, technology providers, stainless steel scrap companies, traders, analysts and other industry experts to explore the latest supply-demand dynamics, pricing trends and growth drivers in the Asian Nickel market…Copper, Zinc and Cobalt are all relatively flat at $2.61, $1.06 and $15.99, respectively…Crude Oil has added 40 cents a barrel to $57.80 while the U.S. Dollar Index has jumped one-third of a point to 98.66…focus is turning to tomorrow’s ECB monetary policy meeting…ECB President Mario Draghi is expected to roll out some significant stimulus…market expectations for a September rate cut by the Fed, which meets next Tuesday and Wednesday, are at 91%, according to the CME Group’s FedWatch tool…China has made a positive overture to the U.S. regarding trade, announcing that it will exempt certain U.S. products from tariffs for 1 year…President Trump, basking in the glow of an important Republican congressional win in a special election in North Carolina last night, continued his verbal assault this morning on the Federal Reserve, which he blames for slowing the economy, tweeting that the central bank should cut interest rates to zero or even set negative interest rates….“The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt…INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term…We have the great currency, power, and balance sheet…The USA should always be paying the lowest rate. No Inflation!…It is only the naïveté of Jay Powell and the Federal Reserve that doesn’t allow us to do what other countries are already doing…A once in a lifetime opportunity that we are missing because of “Boneheads”Prime Minister Justin Trudeau has asked Gov. Gen. Julie Payette to dissolve Parliament, triggering the official launch of Canada’s federal election campaign…the election will be held October 21 and will have major implications for the country’s resource sector…

2. Some American companies in China are speeding up their move away from the mainland as increasing tariffs continue to hurt their businesses…that’s according to a survey released today by the American Chamber of Commerce in Shanghai…more than a quarter of the respondents – or 26.5% – said that in the past year, they have redirected investments originally planned for China to other regions…that’s an increase of 6.9 percentage points from last year, the AmCham report said, noting that technology, hardware, software and services industries had the highest level of changes in investment destination…

3. Alberta Premier Jason Kenney has launched a promised legal challenge against Ottawa’s contentious environmental assessment bill that threatens Canada’s resource sector…Kenney said the province has started a constitutional challenge against Bill C-69 which came into force August 28 and overhauled the regulatory regime that oversees applications for major resource projects…“This is not about jobs in Alberta, although that is critical,” Kenney said…“It’s about the rule of law, it’s about the dream of an economic union, it’s about respect for the fundamental law of the land, the constitution of Canada”…industry groups earlier this year proposed more than 100 amendments to Bill C-69, which would have amounted to a sweeping restructuring of the bill…several Conservative and some Independent Senators sought to have those amendments accepted by the House of Commons, but climate change alarmist and Minister of Air, Land and Water Catherine McKenna ultimately rejected almost all of the proposed changesBill C-69 substantially broadens the review process for major projects by expanding public hearings, incorporating new considerations around gender and environment, and introducing an “early-stage” review process, among other things…the National Energy Board was also replaced by the “Canada Energy Regulator” as part of Bill C-69

4. The left’s smear campaign against Alberta’s Oil Industry, much of it American-funded, isn’t being ignored anymore, thanks to a new government in the province, and that has rankled the likes of Amnesty International…the group is now warning Premier Jason Kenney that his government’s fight against Oil and gas industry foes puts human rights at risk…the head of the group’s Canadian branch outlined his concerns in an open letter yesterday that highlighted Alberta’s public inquiry into foreign funding of environmental groups and its $30 million war room to combat critics through social media, advertising and the press…Amnesty International is deeply concerned that these initiatives undermine and violate a range of Alberta’s human rights obligations, under the Canadian Charter of Rights and Freedoms and international law, including freedom of expression, freedom of association, the rights of Indigenous peoples and gender equality,” wrote secretary general Alex Neve…

5. The Dow is up 18 points through the first 30 minutes of tradingApple (AAPL, NASDAQ) added to its gains from the previous session, giving the tech sector a lift, after unveiling a slew of new products including 3 new iPhones along with a new Apple Watch and a TV subscription service…Apple also showcased a gaming subscription called Apple Arcade…in Toronto, the TSX is 22 points higher…the TSX Gold Index is finding support around the 240 area, as expected, after a healthy 11.3% correction over the last 4 sessions…specifically, an exceptional support band ranges from about 240 to the high 220’s…S&P Dow Jones Indices is adding Kirkland Lake Gold (KL, TSX) and removing Husky Energy (HSE, TSX) when it rebalances the S&P/TSX 60 on September 23…the Venture, which has climbed in 9 out of the past 13 sessions (though it doesn’t feel like it), is up 2 points at 584…the Index will gain traction to the upside once it’s able to conquer key resistance at 600

6. Vsblty Groupe Technologies (VSBY, CSE) has been selected as a preferred vendor for Seneca Lab’s industry-leading visual media product solutions…Seneca is a division of Arrow Electronics (ARW, NYSE), a Fortune 109 company with more than 20,000 employees worldwide..Kevin Cosbey, Business Development Manager for Arrow Electronics Global Services, said Seneca is launching a first-of-its-kind integration software, named Maestro, preloaded on digital media players, which can be ordered complete with CMS and/or with software analytics that provide audience measurement…“For this program 4 vendors that offer CMS solutions and 3 that offer audience measurement have been selected.  VSBLTY is the only Seneca partner offering solutions in both the CMS and analytics categories,” Cosbey pointed out, “and we are delighted to have VSBLTY’s state-of-the-art technology to enhance Seneca’s product line”…the digital signage market is exploding worldwide…according to a recent research study, the global digital signage market size was estimated at $18.5 billion in 2018 and is anticipated to reach $31.7 billion by 2025 at a CAGR of 8.0% from 2019 to 2025VSBLTY Co-founder & CEO Jay Hutton added, “It is widely known how carefully Seneca vets its vendors so we consider it a high honor to be selected for its global content management and audience measurement products.  VSBLTY technology provides enhanced customer engagement and audience measurement using machine learning and computer vision.  Its VisionCaptor and DataCaptor software combines motion graphics and interactive brand messaging with first of its kind Facialanalytics”VSBY has formed an important bottom on the charts and is up half a penny at 35 cents through the first 30 minutes of trading…

7. Licensed cannabis producers in Canada are standing by the safety of their upcoming vape pen products in the wake of a spate of lung illnesses that has left 6 dead and affected close to 500 people in 33 states south of the border…both cannabis and nicotine vape pens have been linked to the mysterious lung condition in the U.S., with one of the deaths reportedly tied to cannabis oil bought in a legal pot shop in Oregon, according to the Oregon Health Authority…with a month to go before cannabis vape products become legal in Canada, major industry players who are positioning to supply the new market appear confident that Canada’s highly regulated legal cannabis system is equipped to ensure the safety of consumers who vape…it is still unclear what exactly is causing hundreds of vapers to develop respiratory problems, but a statement released by the U.S. Food and Drug Administration pointed at vitamin E acetate – used as a suspension fluid in some cannabis vape pens – as the possible culprit…

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September 10, 2019

7 @ 7:00

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

1. Gold has traded between $1,487 and $1,502 so far today…as of 7:00 am Pacific, bullion is off $1 an ounce at $1,497…Silver has rebounded 12 cents to $18.12 after dipping as low as $17.68 overnight…an exceptionally strong support band for Silver exists between $17.75 and $17.25…Nickel, Copper, Zinc and Cobalt are all relatively flat at $8.16, $2.60, $1.04 and $15.99, respectively…Crude Oil has added 53 cents a barrel to $58.38 while the U.S. Dollar Index is up slightly at 98.35…this week’s key event which could allow Gold stocks to rebound strongly is the European Central Bank rate decision on Thursday…ECB President Mario Draghi will test the composure of global policy makers as he unleashes what’s expected to be a barrage of stimulus to shore up economic growth…the monetary easing will likely feature an interest rate cut that widens the difference between borrowing costs in the euro area and elsewhere…that will potentially affect foreign exchange markets – and risk the ire of critics such as President Trump…while Draghi has a mantra ready that his institution strives for price stability and doesn’t target the euro, that won’t stop Trump or others from accusing the ECB of fighting a “currency war”…that kind of talk is usually bullish for GoldTrump has a history of citing the weakness of the euro when piling pressure on the Federal Reserve to cut its own rates…the Fed meets next Tuesday and Wednesday..

2. Nickel ore output in the Philippines, one of the world’s top two producers of the material for stainless steel and batteries, rose 3% in the 1st half of 2019 despite mine shutdowns, according to government data released today…output was capped as half of the country’s mines were closed for maintenance or environmental reasons…the Philippines sells most of its Nickel ore to top buyer China…it produced 11.31 million dry metric tonnes of the material between January and June, compared with 11.01 million tonnes in the same period last year, the Mines and Geosciences Bureau (MGB) said…16 of the Philippines’ 31 Nickel mines were shut in the 1st half for either maintenance or suspension of operations for environmental and other offences…some but not all of those suspended mines are expected to become operational again, lifting the country’s overall output at the same time as Indonesia slaps a ban on Nickel ore exports…still, the Nickel market remains tight with increasing demand at current price levels…

3. GoGold Resources (GGD, TSX) has cut 24.4 m of the Los Ricos vein starting 119.9 m downhole averaging 127.4 g/t Ag and 1.3 g/t Au (3 g/t AuEq)…this interval in drill hole LRGG-19035 also included 9.8 m @ 258 g/t Ag and 3 g/t Au (6.4 g/t AuEq)…meanwhile, drill hole LRGG-19034 intersected 20.1 m of the vein grading 177.2 g/ and 0.92 g/t Au (3.28 g/t AuEq)…“We are continuing to see wide zones of Silver-Gold mineralization on both the hanging wall and footwall of the historical stopes as we test both down dip and along strike in the Main Area of the Los Ricos zone,” stated President and CEO Brad Langille…“We have been able to re-enter and channel sample some of the historical workings known as El Troce located 400 m to the northwest of El Abra and have moved the drill to test this target”GGD is up a penny at 71 cents as of 7:00 am Pacific

4. The Dow is down 70 points through the first 30 minutes of tradingin Toronto, the TSX has slid 15 points…the TSX Gold Index has corrected more than 10% over the past 3 sessions to the top of a strong support band around 240 that stretches to the high 220’sOsisko Gold Royalties (OR, TSX) is buying troubled Stornoway Diamond (SWY, TSX) in partnership with its creditors as the Quebec-based gem miner files for bankruptcy protection…the agreement stems from a June LOI and will see Osisko and other creditors assume all debts and liabilities of Stornoway while continuing to operate its Renard diamond mine in Quebec by supplying $20 million in working capital…the Venture is unchanged at 583Amex Exploration (AMX, TSX-V) has cut 32.2 m grading 7 g/t Au, including 1.20 m @ 178 g/t Au, at a vertical depth of approximately 500 m (PE-1983) in what was previously called the Low Grade Zone at its Perron Project near Rouyn-Noranda…it has been renamed the Denise Zone…this high-grade intersection shares several characteristics with the High Grade Zone (HGZ) as it is hosed by quartz-carbonate-pyrite veins with free Gold along the contact of a gabbro crosscutting the sonic rhyolite host rock…meanwhile, the HGZ has been expanded by more than 55 m at depth and 35 m westward…results released from the HGZ this morning included 15.6 m grading 3.05 g/t Au (PE-1976) and 11.1 m @ 3.40 g/t at vertical depths of 300 m and 360 m, respectively…AMX is up slightly on the news…Balmoral Resources (BAR, TSX-V) has resumed drilling at promising Area 52 at its Fenelon Property, part of the company’s larger Detour Gold Trend Project in Quebec…Area 52 covers an extensive, untested segment of the Sunday Lake deformation zone, the southern extension of the recently identified Area 51 Corridor, and the intersection of these 2 Gold bearing structural zones…4 drill holes were completed during the 1st phase of drilling in Area 52 testing a variety of Gold targets…visible Gold mineralization was observed at shallow depths in 2 of the 4 holes while visible Gold has already been noted in the 1st hole of the current follow-up program…final assay results from Phase 1 drilling are expected before the end of the month…

5. Discovery Metals (DSV, TSX) announced this morning that it’s mobilizing for Phase 1 diamond drilling program on its newly acquired and 100%-owned Cordero Project located in Chihuahua State, Mexico…drill permits are in place and Discovery will begin its program in the coming days, approximately 5 weeks ahead of the anticipated commencement date…Discovery’s plan is to drill approximately 30,00035,000 m over the next 12 months with the focus of 1) delineating and discovering the highest-grade phases and domains of the mineralized system; and (2) testing new high priority areas…Taj Singh, President and CEO, stated, “In just a few short weeks we have made great strides at Cordero.  We have integrated our teams, progressed well through our review of historic drilling, planned our first holes, and accelerated the start-up of our drill campaign.  We are very excited to be aggressively exploring one of the world’s largest silver projects against a backdrop of rising silver prices and we are confident that our high-grade and high-margin approach at Cordero will add significant value”Cordero, one of the largest undeveloped Silver deposits in the world, is located on the eastern edge of the Sierra Madre Occidental mountains within the northern extent of the Central Mexican Silver Belt…

6. Alexco Resource (AXU, TSX) has drilled 8.15 m (true width) averaging 1,414 g/t Ag (45.5 ounces per tonne), including 2 discrete veins (1.51 m true width @ 153 ounces per tonne, and 0.42 m true width @ 325 ounces per tonne), at a depth between about 580 m and 590 m below he northeast portion of its Bermingham deposit in the Yukon’s Keno Hill Silver district…the 2019 drill program was designed to follow up prior drill results indicating potential for deeper mineralization at Bermingham with a specific aim to test for the presence of mineralization in a deeper stratigraphic zone, which also hosts the adjacent historic Hector Calumet deposit…success in the 2019 Bermingham deep drilling program will now drive a much larger follow up program, the timing and drill-technology for which is under review…shallower drilling has also been completed adjacent to the Bermingham Northeast Zone with the aim of expanding the mineral resource adjacent to anticipated mining areas…

7. We can largely thank government policies in Canada for this – some of the country’s largest Natural gas producers and drilling companies could soon be booted from the main Toronto Stock Exchange index amid a share price route…after a bruising summer in which stocks in the Oil and gas sector have fallen to historic lows, as many as 7 companies are in danger of being removed from the S&P/TSX Composite Index…on the list of of potential deletions are Kelt Exploration, Peyto Exploration and Development, NuVista Energy, Torc Oil and Gas, Birchcliff Energy and drilling companies Precision Drilling and Ensign Energy Services…their depressed market capitalizations have fallen to the point where they no longer meet the threshold required for the 239-member composite index managed by index provider S&P Global…the deletions would exacerbate the damage already inflicted on the sector because it would preclude major passive funds, that track major indices, from buying the stocks…

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September 9, 2019

7 @ 7:00

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

1. Gold has traded between $1,504 and $1,529 so far today…as of 7:00 am Pacific, bullion is up $3 an ounce at $1,509…Silver has slid 13 cents to $18.09…an exceptional support band exists between $17.75 and $17.25 on any further pullback which would keep Silver firmly within its powerful primary uptrend…Nickel has jumped 11 cents to $8.14 while Copper, Zinc and Cobalt are all steady at $2.61, $1.05 and $16.10, respectively…Crude Oil has added 89 cents a barrel to $57.41 while the U.S. Dollar Index has fallen one-fifth of a point to 98.25a Dow Jones Newswires report over the weekend stated that China’s official economic numbers are probably not accurate and likely are overly hyped by the government…the report said China’s overall economic growth (GDP) is probably about half of what the official numbers say, or actually around 3%, on an annual basis...this also comes as no big surprise – the Trudeau government has embarked on a massive spending spree (targeting everything except the resource sector, of course) ahead of the October election…according to a National Post report this morning, for August alone the Liberal government’s spending tally was a whopping 4,545 announcements worth approximately $12.8 billion…by comparison, the Harper government, in the month leading up to the 2015 election. announced spending of approximately $1.4 billion over the course of 605 announcements…the current government has shown repeatedly that it has no respect for Canadian taxpayers’ dollars…it’s a classic tax-and-spend regime, run by a Prime Minister and cabinet without managerial or financial discipline or experience – yet Canadians could decide to reward them with another 4 years in power…what would that do to the resource sector in this country?…

2. China continued the path of diversification in August as it bought Gold for the 9th straight month, adding another 6 tons to bring its yearly total to nearly 100 tons, according to the latest data released by the People’s Bank of China…Gold holdings stood at 62.45 million ounces in August compared to July’s 62.26 million…China’s renewed interest in Gold has coincided with a massive rally in Gold prices as well as an escalating trade battle with the Trump administration, one that China doesn’t seem likely to win…central banks around the world have been upping their Gold purchases in 2019 after buying a total of 651.5 tonnes last year – the highest level since 1971…this trend, which is not going away anytime soon, has been a key driver in this new bullion bull market along with global monetary easing and de-dollarization moves among emerging market central banks…

3. This week’s key event is the European Central Bank rate decision on Thursday…ECB President Mario Draghi will test the composure of global policy makers as he unleashes what’s expected to be a barrage of stimulus to shore up economic growth…the monetary easing will likely feature an interest rate cut that widens the difference between borrowing costs in the euro area and elsewhere…that will potentially affect foreign exchange markets – and risk the ire of critics such as President Trump…while Draghi has a mantra ready that his institution strives for price stability and doesn’t target the euro, that won’t stop Trump or others from accusing the ECB of fighting a “currency war”…that kind of talk is usually bullish for GoldTrump has a history of citing the weakness of the euro when piling pressure on the Federal Reserve to cut its own rates…the Fed meets next Tuesday and Wednesday…

4. The Dow is up 36 points through the first 30 minutes of trading to begin the new weekAT@T (T, NYSE) jumped at the open after after Paul Singer’s Elliott Management announced it owns $3.2 billion in the underperforming telecom giant’s stock…the hedge fund said it sent a letter to the company’s board and argued for ways AT&T can “improve its business and realize a historic increase in value” (changes at CNN would be a good start)the activist investor said its AT&T stock purchase is one of the firm’s largest investments ever…in Toronto, the TSX is off 26 points…Canopy Rivers (RIV, TSX) began trading on the TSX this morning, graduating from the Venture…this milestone was achieved within less than 1 year of the company’s initial go-public transaction…Osisko Mining (OSK, TSX) has cut 72.3 g/t Au over 12.7 m (762.2 m to 774.9 m, true width estimated at 55% to 80%) through infill drilling at the Lynx deposit at Windfall…Osisko President and CEO John Burzynski commented, “The continued flow of strong results from Lynx is making us rethink our approach to the Windfall deposit.  We continue to see good continuity of high-grade mineralization at Lynx and now Triple Lynx, and both zones remain open for expansion down plunge.  The Lynx extension and Triple Lynx are adding important ounces and these two recent discoveries are once again demonstrating the importance of the Lynx corridor in the Windfall mineralized system”Golden Valley Mines (GZZ, TSX) and Strategic Metals (SMD, TSX-V) have quietly hit new 52-week highs…SMD has reported the discovery of more Gold-rich veins a its Mount Hinton Property in the Yukon, located in the southern portion of the Keno Hill district near Alexco Resource’s (AXU, TSX) mill at Keno City…Strategic’s continuing multi-phase program is focused on the Granite Creek basin which forms the headwaters of a productive placer creek…

5. Sun Metals (SUN, TSX-V) announced plans this morning to add a 3rd diamond drill rig and expand to a winter program at its 100%-owned Stardust Project in north-central British Columbia…positive results from the 2019 exploration campaign confirm the 421 zone Copper-Gold skarn mineralization is open to the north and south…the company views Stardust as a large, high-grade polymetallic Copper-Gold system…plans are underway for installation of an all-season winterized camp and additional roads to facilitate an extended exploration campaign…the camp is expected to support a workforce of up to 40 workers, which will be more than adequate to support a 3 drill rig year-round exploration campaign…Donald McInnes, Chairman of Sun Metals, stated, “The continued discovery of very impressive size and grade intervals in the 421 zone in the 2019 campaign are exceeding our expectations.  Timely advancement of the exploration team’s understanding of the Stardust mineralizing system is critical to the execution of our corporate vision. By adding a 3rd drill and installing an all-season camp we will be able to accelerate further discovery of the 421 zone”

6. Pan American Silver (PAAS, TSX, NASDAQ) has elected to operate the next phase of exploration at Radius Gold’s (RDU, TSX-V) high-grade Gold-Silver Amalia Project in Chihuahua, Mexico, and will reinitiate work this month…the new program at Amalia will consist of 2,500 m of diamond drilling…the Amalia Project covers 9,450 hectares and is located 25 km SW of the historic Guadalupe y Calvo mining district in Chihuahua…Radius geologists discovered high grade epithermal Silver-Gold mineralization in several veins, vein breccias and disseminated zones over 3.5 km of strike length and a 600 m vertical interval following the trace of a large regional fault zone…an agreement to explore the Project with Pan American Silver was signed in July 2018…since then, 2 drill programs have been completed totalling 3,665 m in 15 holes, highlighted by 26 m of 7.1 g/t Au and 517 g/t Ag in drill hole AMDD18009

7. Japan Gold (JG, TSX-V) has made a second round of project acquisitions, as announced this morning, with the addition of 5 new Gold projects in the prospective southern and middle Kyushu epithermal Gold provinces…the projects cover prospective ground along strike of, or adjacent to, significant current and past producing Gold mines including the Hishikari, Kushikino, Yamagano, Okuchi and Bajo mines…the new projects comprise 21,058 hectares collectively…the Japanese Ministry of Economy, Trade and Industry has notified acceptance of the new applications giving Japan Gold priority over these areas and authorization to commence surface exploration…with the addition of these new projects, the company’s portfolio now includes 24 separate Gold projects within the major epithermal gold provinces of Japan…John Proust, Chairman and CEO, commented, “The acquisition of this coherent ground package in such a prospective address is a remarkable accomplishment.  These new projects continue to provide outstanding exploration opportunities within the portfolio and the potential to create significant value for Japan Gold going forward”…

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