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BMR Morning Market Musings... - BullMarketRun.com

August 9, 2017

BMR Morning Market Musings…

Gold has traded between $1,264 and $1,279 today…as of 11:55 am Pacific, bullion is up $16 an ounce at $1,277…Silver has surged 43 cents to $16.87…Copper is flat at $2.91…Nickel has added 6 cents to $4.86…Crude Oil has jumped 37 cents to $49.54 a barrel while the U.S. Dollar Index is relatively unchanged at 93.63

Gold has benefited from more tough talk from the Trump administration regarding North Korea as Defense Secretary “Mad Dog” Mattis, a decorated 4-star General, essentially echoed President Trump’s words from last night after fresh provocation from Pyongyang…Mattis bluntly stated, “The DPRK should cease any consideration of actions that would lead to the end of its regime and the destruction of its people.

“While our State Department is making every effort to resolve this global threat through diplomatic means, it must be noted that the combined allied militaries now possess the most precise, rehearsed and robust defensive and offensive capabilities on Earth. The DPRK regime’s actions will continue to be grossly overmatched by ours and would lose any arms race or conflict it initiates,” the General concluded…

Yesterday’s report that Pyongyang has missile-ready nukes, combined with months of missile tests and threats from Kim, has escalated tensions with Gold pushing higher as a result…there is likely no happy ending to the North Korean threat…unfortunately, U.S. and other world leaders have done nothing but kick the North Korean can down the road for the past 2 decades and now we’re closing in on crisis time…

Gold In Canadian Dollars Signals Potential Acceleration Of Uptrend  

Gold in Canadian dollars has followed a consistent pattern of big moves to the upside over a short period immediately after support at the uptrend line has been successfully tested…these moves have accelerated once the 50-day moving average (MA-10 on this chart) has been cleared, and right now that’s exactly where Gold is trading at in Canadian dollars (about $1,610)…bullion briefly fell below its uptrend line in loonie terms last month but quickly reasserted itself above that support…

If the pattern in Canadian dollars holds up, a Gold breakout above $1,300 U.S. should occur over the next month or two – perhaps much sooner…

In today’s Morning Musings…

1. As many as 10 companies drilling, or about to drill, in the Eskay Heart of Gold Camp

2. GT Gold (GTT, TSX-V) update…

3. Daniel’s Den Kopin is a keeper, plus an attractive Zinc play…

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4 Comments

  1. BMR, great Morning Musings. When do u think the masses will start piling in or will that be be due to results? As well, any guesses as to when the drill will turn and how much they will drill? And when can we expect to see the Lighfoot interview? Thanks!

    Comment by johnz — August 9, 2017 @ 12:50 pm

  2. johnz, good action today IMHO as profit taking by some was absorbed in an orderly fashion…what’s powerful about the Nickel Mountain target is that the first couple of holes should change everything given that they are going to be drilled with precision right into the heart of the historic zones and then the conductor below…it’s not like there’s a guessing game as to whether they’ll hit or not, at least in terms of the known mineralization…given how the VTEM has been validated with the surface mineralization at Anomaly A, its hard to imagine that massive sulphides don’t continue below 122 m…so it truly is a bull’s eye target…we should expect an update from GGI literally any day now…our Lightfoot piece will be within 4-5 days I suspect…

    Comment by Jon - BMR — August 9, 2017 @ 1:37 pm

  3. One thing I’m very curious about is why their presentation stated drilling last half of July, yet here we are almost middle of August and the drill still not turning. Now having said that, it should be ready to start any day, but why the delay? Not complaining about the share price though as it has done just as BMR predicted months ago when you guys said it would be 50-60 cents prior to drilling.
    What I am hoping is the extra time was a result of more ground geophysics to pin point the body below the historic deposit and maybe get a better sense of the shape, size and depth because I believe a certain type of ground geophysics can penetrate deeper into the ground than the VTEM?

    Comment by Dan1 — August 9, 2017 @ 6:57 pm

  4. I suspect the reason, Dan1, has to do with the game-changing developments at Anomaly A and perhaps right along what they’re now calling a potential structural corridor…surface work has also been occurring around the historic deposit and Anomaly D…much new information has entered into the equation since the final week of July, obviously…probably hasn’t changed the general approach but there has likely been some fresh thinking and tweaking…they must be very close to hitting the start button on drilling – I bet we get news by Monday at the latest…

    Comment by Jon - BMR — August 9, 2017 @ 9:20 pm

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