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Check out Daniel’s Den later today and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,332 and $1,349 so far today…as of 7:00 am Pacific, bullion is up $10 an ounce at $1,342 thanks to fresh U.S-China trade tensions…Silver has slipped 11 cents to $16.29 as the Gold-Silver ratio widens to 82.38, an historically high reading…Copper, Nickel and Zinc are all under modest pressure at $3.00, $5.94 and $1.48, respectively…Cobalt is off 11 cents at $42.30…Crude Oil has fallen $1.40 a barrel to $62.11 but should rebound as news is just out from the Energy Information Administration (IEA) that Crude inventories fell by 4.6 million barrels last week vs. analysts’ expectations for an increase of 246,000…the U.S. Dollar Index is off slightly at 90.06…Bitcoin dropped as low as $6,843 this morning…

2. U.S. Commerce Secretary Wilbur Ross told CNBC this morning that China’s new tariffs do not represent a threat to the United States…China’s tariffs “amount to about three-tenths of a percent of our GDP.  So, it’s hardly a life-threatening activity.  It’s relatively proportionate to the tariffs we put on based on the intellectual property,” Ross stated…earlier today, China announced additional tariffs on 106 U.S. products, less than 24 hours after President Trump unveiled a list of Chinese imports that his administration aims to target as part of a crackdown on unfair trade practices, in particular China’s theft of American (and Canadian) intellectual property…

4. U.S. companies kept up the hiring pace in March, adding 241,000 positions as employment in construction and manufacturing surged, according to a report this morning from ADP and Moody’s Analytics…economists surveyed by Reuters had been expecting the report to show that private payrolls had increased by 205,000…it’s the 5th straight month that private payrolls have jumped by at least 200,000…March 2018 nearly doubled the 122,000 total from the previous year. “The job market is rip-roaring,” stated Mark Zandi, Moody’s Analytics’ chief economist.  “Monthly job growth remains firmly over 200,000, double the pace of labor force growth.  The tight labor market continues to tighten.”  Job gains were broad-based, spread across both business size and sector…the Labor Department provides its monthly jobs report Friday…

5. The same factors which have inflated the discount paid for Canadian Oil sands heavy Crude compared with U.S. Oil are also driving a substantial increase in the discount for light Canadian Oil…a report from accountant Deloitte shows the difference between West Texas Intermediate and Edmonton light Oil prices widened to $7.32 (U.S.) a barrel in January, an 86% jump over the average of $3.93 (U.S.) a barrel in the 4th quarter of last year…this is what climate change fanatics and pipeline protestors do not understand (or maybe they do and they don’t care) – the Canadian economy is losing at least $16 billion a year, according to a recent bank report, because of challenges in terms of getting its Oil to market…the country urgently requires more pipeline capacity, and the Kinder Morgan expansion would open critical markets in Asia…Deloitte’s Andrew Botterill stated, “We really only have one major market and that major market has been developing their own resources, requiring ours less and less.  There’s optionality for them to buy Canadian Oil volumes or not and when there’s that optionality, it ends up eroding value for Canada.”

6. Cornerstone Metals (CCC, TSX-V) has returned more impressive drill results from its Carlin Vanadium Project in Nevada including strong evidence that historic grades were understated…diamond drill hole DDC18–09 specifically twinned a Union Carbide rotary hole (R111A) from 1967 to confirm and compare rotary results (depth, thickness and grade of the high-grade Vanadium unit) to diamond drill core results, besides comparing historic to modern analytical techniques…DDC18–09 compared very well with R111A in the depth and thickness of the high-grade Vanadium unit…interestingly, though, the grade encountered in DDC18–09 (1.47% V2O5 over 46.5 m) was 65% higher than in the historic rotary hole R-111A…Cornerstone President and CEO Paul Cowley stated,  “Many of our verification holes within the confines of the historic resource area have returned higher grades than their neighboring historic holes. Now, with this first twinned hole, there is growing evidence to suggest that historic grades may be understated.”  The Carlin Vanadium Project hosts one of the largest, richest primary Vanadium deposits in North America according to a U.S. Geological Survey (USGS) report from late last year…

7. The Dow has tumbled 362 points through the first 30 minutes of trading…in Toronto, the TSX has slid 143 points…the incompetent Wynne government’s “Fair Housing Plan” is contributing to plunging real estate values in the Greater Toronto Area (GTA)…the average price in March 2018 was $784,558 for all housing categories in the GTA, including detached, semi-detached, townhomes and condos, vs. $915,126 in March last year…that’s a staggering drop of $130,500 or 14.3% – the biggest drop in 30 years…whenever socialist governments start interfering in the housing market to “make prices affordable”, run for the hills…meanwhile, if the Wynne government is re-elected and implements its latest grotesque tax-and-spend agenda, it will take all the province’s tax revenues from alcohol and tobacco just to cover the expected increase in interest expenses on a massive debt over the next few years, according to the CD Howe Institute…interest expenses at roughly 8.5% of revenues are set to be the 2nd-fastest-growing type of government expense in Ontario, besides children’s and social services…Wynne is simply economically illiterate but in 2 months she should be gone…the Venture is off 9.5 points at 760 with marijuana stocks leading the decline…closest technical support is 750, last year’s low…since mid-February, Orca Gold’s (ORG, TSX-V) major shareholders have exercised approximately 7.9 million warrants at 55 cents from the company’s July 2017 private placement, injecting another $4.35 million into the treasury which will go toward continued exploration and a Feasibility Study on the Block 14 Gold Project in the Sudan…another 11 million warrants from that financing have yet to be exercised…more drill results this morning from Barkerville Gold (BGM, TSX-V)…Island Mountain Shaft Zone hole IM-17–249 intersected 48.2 g/t Au over 9.95 meters, 45 m down dip from previous reported hole IM-17–151 which assayed 72.2 g/t Au over 12.05 m…Valley Zone hole CM-17–106 intersected 12.2 g/t Au over 11.4 m, 40 m down dip of a modelled vein corridor and 40 m up dip from previously reported hole CM-17–096 which intersected 12.5 g/t Au over 8.00 m and 11.74 g/t Au over 5.15 m further down hole…Tinka Resources (TK, TSX-V) has closed its previously announced bought deal financing, including the exercise in full of the underwriters’ over-allotment option…a total of 16.79 million units of Tinka were sold at a a price of 48 cents per unit for total gross proceeds of nearly $8.1 million…

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

1. Gold has traded between $1,332 and $1,343 so far today after yesterday’s robust move to begin the month of April…as of 7:00 am Pacific, bullion is down $7 an ounce at $1,334…there’s strength in base metals today…Copper has rebounded 4 pennies to $3.06…Nickel has jumped a dime to $6.11 while Zinc is flat at $1.49…CME Group reports record trading volume in precious and base metals metals during the 1st quarter…the exchange operator says metals volume averaged 713,000 contracts per day from January through March, up 39% from the 1st quarter of 2017…Cobalt is steady at $42.52…Crude Oil has gained 55 cents to $63.56…as President Trump ponders pulling the U.S. out of the flawed Iran nuclear deal, which would be bullish for Crude Oil, Saudi Arabia’s crown prince has affirmed Israel’s right to exist and criticized the previous administration’s policy in an interview with The Atlantic, pointedly bucking other leaders in the Arab world and signaling support for President Trump’s Middle East agenda.  “President Obama believed that if he gave Iran opportunities to open up, it would change.  But with a regime based on this ideology, it will not open up soon. Sixty percent of the Iranian economy is controlled by the Revolutionary Guard.  The economic benefits of the Iran nuclear deal ($150 billion) are not going to the people”...the U.S. Dollar Index is down one-tenth of a point at 89.97…

2. NAFTA breakthrough?…Bloomberg reported this morning that the Trump administration is pushing for a preliminary NAFTA deal to announce as early as next week at a summit in Peru, and will host cabinet ministers in Washington to try to achieve a breakthrough…the White House wants leaders from Canada and Mexico to join in unveiling the broad outlines of an updated pact at the Summit of the Americas that begins April 13, while technical talks to hammer out the finer details and legal text would continue…NAFTA negotiators are working under some political calendar pressure due to elections in Mexico in July and mid-terms in the U.S. in November…both elections threaten to complicate the process of reaching a deal and getting it approved by the nations’ lawmakers…

3. Eskay Heart of Gold Camp update:  Skeena Resources (SKE, TSX-V) has commenced underground drilling at its 100%-owned Snip Project…the budgeted Phase II drill program totaling 11,000 m is being performed from the existing underground infrastructure utilizing two drill rigs…building upon the data gathered from the recently completed Phase I campaign, the 2018 program is designed to further delineate areas of known mineralization with low drill density and to expand newly modelled zones via widely spaced exploratory drill step outs…areas of interest include the 200 Footwall zone (200 m below the historically productive Twin zone) which received limited underground drilling from previous operators and was tested by 2016 Skeena drill hole S16–006 (16.2 g/t Au over 13.5 m in a previously undrilled area)…the lack of drilling and geological similarities to the Twin Zone make the 200 Footwall a substantial exploration target…a large portion of Skeena’s 2018 program is designed to expand upon this newly modelled and largely untested area…other zones of high interest are the Eastern Twin and the 412 Corridor…next up to commence drilling in the Eskay Camp is Garibaldi Resources (GGI, TSX-V) as it prepares to take aim at unusually strong conductors over a broad area at depth and south of EL-17–14 which returned 8.3% Nickel and 4.2% Copper over 16.75 m, plus Cobalt, Palladium, Platinum, Gold and Silver, within a broader 40.4-m zone grading 3.9% Ni and 2.3% Cu…the system remains open in all directions and the multi-km trend to the northeast may have been expanded through a recently completed VTEM survey…

4. Orca Gold (ORG, TSX-V) has drilled 123 m grading 1.96 g/t Au (true width 45 m), 50 m @ 3.05 g/t Au (true width 25 m) and 12 m @ 8.36 g/t Au (true width 11 m) in 3 separate new holes at its Block 14 Project in Sudan…drilling on a new azimuth has proven a new geological interpretation at the Galat Sufar South (GSS) deposit with 25 of 27 new holes on the new azimuth intercepting mineralization…drilling based on this new modelling is expected to increase the pit resource at GSS and expand resources beyond the current pit design, particularly with regard to a new and significant mineralized zone identified in the hangingwall of the East Zone through GSCR731 (12 m @ 8.36 g/t Au)…Orca CEO Richard Clark stated, “This success is allowing us to rapidly fill in the blanks of the block model and target new mineralization previously unidentified.  Although the drill database had to be cut off at the end of fiscal 2017 for the purposes of our feasibility study, we are confident that drilling this year will materially increase resources in the current pit designs and significantly add to the global resource at GSS.  As our understanding increases, this project continues to impress and grow. More importantly, we have only tested a small portion of our 2,170 sq. km concession to date.”

5. Tesla (TSLA, NASDAQ) is up about 3% through the first 30 minutes of trading, despite the fact that the company fell short of its goal of producing 2,500 Model 3 sedans a week…Tesla, which continues to target a production rate of 5,000 vehicles a week by the end of Q2, also said it will not require an equity or debt raise this year, apart from standard credit lines…shares of the electric car maker are still down nearly 20% since the beginning of the year, partly on concerns over the company’s ability to ramp up production of the Model 3, its first attempt at a mid-priced car…anticipation over the Model 3 had helped drive the stock to an all-time high of $389.61 last September…Tesla produced nearly 35,000 vehicles in its first production quarter of 2018, a 4-fold increase over the previous quarter…of the 34,494 vehicles built during Q1, 9,766 were Model 3s…

6. The Dow has rebounded 119 points as of 7:00 am Pacific…a stunning $63.3 billion left U.S. stock funds in the 1st quarter, the second largest ever, while $63.9 billion poured into global equity funds…Trim Tabs said the U.S. outflows from mutual funds and exchange-traded funds were second only to the $68 billion that left U.S. equity funds in the 3rd quarter of 2011…that proved to be a great time to be a buyer, however…in Toronto, the TSX is flat while the Venture is up slightly at 785 as of 7:00 am Pacific…Bonterra Resources (BTR, TSX-V) has released the latest results from the continuing winter drilling campaign at the Gladiator Gold deposit in Quebec, including an intersection of 17.8 g/t Au over 3 m…high-grade intersections have extended multiple zones westward, adding strike length at the Rivage Gap and demonstrating the continuity of the deposit…the ongoing drilling campaign, totaling 70,000 m in 2018, includes infill and definition drilling at the Gladiator Gold deposit…multiple drill holes are in the lab with assays pending…to date, continuity of mineralization is now confirmed over a total drilled strike length on at least 4 horizons (North, Footwall, Main and South) of 1,200 m, as well as a drilled depth of 1,000+ m…Canadian companies hoping to grow cannabis in Germany are looking at a delay of several months or more following last week’s German court decision to halt the government’s tender process for cultivation licenses (a Dusseldorf judge said the timeline given to companies had been too short.)…Canopy Growth, Aphria, Medreleaf, Aurora Cannabis, Maricann Group and Cronos Group were Canadian companies/German subsidiaries believed to be in the running…

7. MGX Minerals (XMG, TSX-V) announced this morning that it intends to publicly list its wholly owned subsidiary ZincNyx Energy Solutions and pay a partial share dividend of ZincNyx directly to MGX shareholders of record…the planned result will be a separate publicly-traded company primarily owned by MGX and its shareholders…the transaction is aimed at realizing the full potential value of ZincNyx and the unique opportunity of replacing or augmenting diesel generators globally with Zinc-air mass storage systems in addition to backup and load balancing applications…the opportunity to replace marine diesel engines with electric engines and Zinc-air fuel cells is now being evaluated due to the ability to refuel the systems in a method similar to traditional refueling, from onshore refueling tanks, but using the environmentally benign charged Zinc electrolyte…Jared Lazerson, MGX CEO, stated, “The scale of the opportunity and the value of the intellectual property, now in excess of 20 issued patents developed by ZincNyx, has set up an ideal scenario for a spinoff transaction and return of value to shareholders through partial dividend of shares.  This is an important standalone technology that needs to grow unbridled on the global stage.  A public listing creates this platform”…

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Check out Daniel’s Den later today and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold, enjoying its best quarterly winning streak since 2011, has traded between $1,328 and $1,337 so far today…as of 7:00 am Pacific, bullion is up $8 an ounce at $1,333…ETFs backed by bullion are near 5-year highs…Silver has added 24 cents to $16.59…Copper, Nickel and Zinc are all relatively unchanged at $3.02, $6.01 and $1.49, respectively…Copper recorded its first quarterly decline since 2015…Cobalt has added 11 cents to $42.51…Crude Oil is steady at $64.98…U.S. drillers cut 7 Oil rigs in the week to March 29, bringing the total down to 797, the first decline in 3 weeks…meanwhile, President Trump has given the European signatories a May 12 deadline to “fix the terrible flaws” of the Iranian nuclear deal…a possible U.S. withdrawal from that deal and the prospect of American sanctions against Iran should help limit any pullback in Crude prices after a strong 1st quarter…Russian Oil output rose in March to 10.97 million bpd from 10.95 million bpd in February, keeping the country ahead of the United States as the world’s biggest Crude producer…the U.S. Dollar Index is unchanged at 90.00…

2. Markets are eagerly anticipating Friday’s jobs report to get the latest gauge on how Fed interest rate policy may evolve in 2018…economic data released this morning showed a modest pullback in U.S. factory activity in March amid a decline in new orders, but growth in the manufacturing sector remains underpinned by strong domestic and global economies…other data this morning showed a marginal increase in construction spending in February…the 1st quarter tends to be the U.S. economy’s weakest of the year due to a seasonal quirk…

3. At $95,000 a tonne, Cobalt is up another 24% in 2018 as it builds on a more than 4-fold increase in value from record lows just over 2 years ago…batteries, mainly for cell phones, constitute 55% of Cobalt demand at present, but is set to rise substantially as the world’s automakers move away from internal combustion engines…Nickel has also been swept up by the positive sentiment, trading at approximately $13,315 a tonne which represents a 33% gain over the last 12 months…Nickel, Cobalt and Manganese are crucial elements in batteries favored by most of the world’s automakers…

4. Hobbled by its own regulatory hurdles and anti-fossil fuel climate change fanatics, Canada has fallen far behind the United States in the race to export liquefied natural gas…for the first time since 1957, the U.S. exported more LNG than it imported…between 2016 and 2017, natural gas exports quadrupled from 0.5 billion cubic feet per day (Bcf/d) to 1.94 Bcf/d…the Energy Information Administration (EIA) attributes this acceleration to the expansion of export facilities in Louisiana and Maryland, with 6 additional ones currently under construction…as a result, the IEA projects the U.S. will become the world’s leading LNG exporter by the mid-2020′s…in British Columbia, a $40 billion potential investment by LNG Canada, which would bring at least 10,000 new jobs to the province, is being opposed by Green Party leader Andrew “Wacky’ Weaver who says the project will add 8 to 10 megatonnes of greenhouse gas emissions…who’s side is Wacky Weaver really on?…he has a track record of participating in foreign-funded, foreign-orchestrated smear campaigns against Canadian jobs related to the resource sector but he goes virtually unchallenged by the left-wing mainstream media…

5. A big warning this morning from the head of one of Canada’s largest banks…RBC President and CEO Dave McKay is urging the federal government to stem the flow of investment capital from this country to the United States because, he warns, it’s already leaving in “real time”…Ottawa is coming under increasing pressure from corporate Canada to respond to a U.S. tax overhaul that’s expected to lure business investments south of the border, but that’s not all…there are grave concerns about Canada’s energy sector and of course the lack of pipeline capacity in this country…McKay told The Canadian Press that a “significant” investment exodus to the U.S. is already underway, especially in the energy and clean technology sectors…

6. The S&P 500 ended the quarter with a 1% loss, its first negative period since Q3 2015 and the worst January-February-March performance since the 1st quarter of 2009…however, in 9 of the past 10 years, April has been a positive month for the S&P 500…going even further back, since 1950 the benchmark has posted an average 1.5% gain in April…that average is only eclipsed by the typically bullish months of November and December, so this morning’s weakness to begin April may not be indicative of what’s in store for this month…

7. The Dow is down 25 points as of 7:00 am Pacific…a decline in Amazon shares is putting pressure on the broader tech sector…the e-commerce giant’s stock is down 3.5% in early trading after President Trump tweeted on Saturday how the U.S. Postal Service is losing “billions of dollars” delivering packages for Amazon, one of the market’s best-performing stocks over the past year with a gain of 64%…in Toronto, the TSX has slid 74 points while the Venture is off 3 points at 794 with marijuana stocks retreating again after Thursday’s rally…the closest parallel to the Venture’s last 4 months (December through March) was 2003 when the Index soared 20% during December and January, only to lose ground during February and March…after remaining relatively unchanged in April, the Venture started a huge run in May 2003 that led to a better than 50% gain by year-end…RBC Capital Markets reports that of the around $925 million raised by junior precious metals companies so far in 2018, only 14% has come from traditional equity sources with the rest from alternative lenders such as streamers…Emblem (EMC, TSX-V) became the 5th company to sign a supply agreement for an undisclosed amount of cannabis with Shoppers Drug Mart as announced last Thursday…the pharmacy chain, which has applied for a sales license under the Access to Cannabis for Medical Purposes Regulations, has already inked deals with Aphria, MedReleaf, Tilray and Aurora…it won’t be able to sell medical cannabis online until it secures a license, and it’s unclear whether pharmacies will ever be able to sell cannabis in store…

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Sunday, April 1, 2018

It’s Easter Sunday, Resurrection Day, a day that should give everyone hope because it was on this day over 2,000 years ago when Jesus rose from the dead – the most incredible comeback and the greatest victory mankind has ever witnessed!  An irrefutable fact of history, the Resurrection is what underpins the Christian faith and makes it unique – it’s why Jesus is indeed the way, the truth and the life.  And the same Spirit who allowed Him to conquer death can dwell in each of us, if we so choose.

This is a message of hope for everyone this morning, no matter what challenges you may face.  With Jesus, all things are possible as Scripture repeatedly states.

As exciting as it is to see our favorite stocks explode to the upside, or as gut-wrenching as it is to experience significant pullbacks in the markets like those that occurred during Q1, as investors we should never let money or our stock portfolios control our lives or rob us of our joy.  Yes, easier said than done, but that’s one reason God has provided a Helper for each of us.

True happiness – peace and lasting joy – can’t come through being in open rebellion against God.  It can only be found by knowing and serving Him through His Son, Jesus Christ, who suffered and died on the cross at Calvary and rose from the dead 3 days later on this day (Easter Sunday).  He is risen, indeed.  This is why we celebrate Easter.  This day is not about the Easter bunny or chocolates or Easter egg hunts or enjoying a day off work.  It’s about Jesus and what He did on the cross.  He suffered and died for us, out of His love and mercy for us, and actually conquered death.  That is so powerful and should give hope to us all.  Think about it.  He also modeled the values, including humility, that He wants each of us to embrace for our own good and to help improve the lives of others around us.

Nothing is more important in our view than one’s relationship with God through Jesus.  He is the Creator of all things, including every mineral and every deposit we write about here at BMR. 

It’s the dream of anyone in the resource sector to make an exciting new discovery, and the dream of every investor to own that stock and make a fortune.  For some, Nickel Mountain was that discovery in 2017.  And there’s much, much more to come from there.  But even something as amazing as that doesn’t compare to the discovery that really matters – one’s discovery of Jesus.  True riches are found in the Savior.  He changes lives and gives everlasting life to all those who come to know Him.

He has also provided us, through His precious Word, all the guidance we need for our daily lives, including of course how we should approach the handling of money, investment matters and relationships – business and personal.

This special day is a great opportunity for each of us to put some time aside and reflect on what Easter Sunday is really all about and why we celebrate it.  And draw closer to God in the process.  Each of us is very imperfect, but as sinners we have redemption through the precious blood of Jesus.

John 20:29:  “Jesus saith unto him, Thomas, because thou hast seen me, thou hast believed: blessed are they that have not seen, and yet have believed.”

From our families to yours, have a joyous Easter Sunday.