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1. Gold has traded between $1,251 and $1,258 so far today as the Fed begins its 2-day policy meeting…as of 7:00 am Pacific, the yellow metal is down $2 an ounce at $1,254…SPDR Gold Shares, the world’s largest physical Gold ETF, added 21 tonnes of Gold in April, following an outflow of 9 tonnes in March…it has been a volatile 2017 in the ETF space for Gold after an outflow of 23 tonnes in January followed by a positive surge of 42 tonnes in February…a more than 3% rally in Gold that helped push prices to a 5-month high last month created a significant drag on U.S. Mint coin sales…the latest data provided by the Mint shows that a total of 6,000 ounces of Gold, in various denomination of American Eagle Gold bullion coins, were sold last month in the worst April performance in 5 years and the lowest sales pace in 16 months…meanwhile, Chinese Gold imports jumped 64.5% on an annual basis in Q1 2017 while the country’s production of the yellow metal tumbled 9.3% as the world’s top Gold producer and consumer phased out older production facilities triggered by Beijing’s attempts to curb overcapacity, according to a statement released by the China Gold Association (CGA)…
2. OPEC Oil output fell for a 4th straight month in April, a Reuters survey found today, as top exporter Saudi Arabia kept production below its target while maintenance and unrest cut production in exempt nations Nigeria and Libya…Russian Oil production fell slightly last month to 11 million bpd, almost hitting its output target under the deal with OPEC…however, more Oil from Angola and higher UAE output than originally thought slightly lowered OPEC compliance with its production cutting agreement to 90%…WTI is off slightly at $48.74 as of 7:00 am Pacific…
3. The Venture’s streak of consecutive closes above 800 remained intact yesterday, thanks to a late-session rally that took the Index from a low of 797.47 to a close at 801.6…it’s off slightly at 799 in early trading today…the Venture has closed above 800 for 33 consecutive sessions which hasn’t occurred for 2-and-a-half years…the mining sector is keeping a close eye on B.C.’s upcoming election…a new exclusive online Ipsos poll for Global News and CKNW shows the BC Liberals are gaining momentum and have pulled slightly ahead of the NDP after last Wednesday’s televised debate…
4. Castle Silver Resources (CSR, TSX-V) is preparing to create value-added Cobalt products (high purity powders targeted for battery manufacturers) sourced from its Castle mine in northern Ontario using its 100%-owned “Re-20X” hydrometallurgical process unveiled yesterday…Re-2OX, designed for high recovery of multiple metals and elements from all feeds with varying chemistries, was developed in conjunction with the National Research Council (NRC)…CSR has opened the main portal at Castle and will soon begin an underground sampling and drilling program with full access to the first level at a depth of 70 feet which extends 365 m (1,200 feet) east-west and 360 m north-south…Castle was a prolific high-grade Silver producer throughout much of the 1900’s with Agnico Eagle (AEM, TSX) being the last operator in the late 1980’s…historically, miners followed the quartz carbonate veins containing Cobalt to hone in on the exceptionally high-grade Silver…CSR, which has only 35 million shares outstanding, is up a penny at 25.5 cents as of 7:00 am Pacific…
5. Precipitate Gold (PRG, TSX-V) has released additional soil sampling results, increasing the concentration of elevated samples within the recently identified Gold-in-soil geochemical anomaly at the Ginger Ridge East zone within the company’s 100%-owned Juan de Herrera Project in the Dominican Republic…the northwest-southeast trending soil anomaly is both consistent and strong (1,000 m long and an average of 100 m wide), with notably elevated Gold, Lead and Zinc values throughout the surface anomaly along with intermittent Copper values…This recently identified multi-element soil anomaly is located approximately 1 km east of the main drill test area at Ginger Ridge and has developed into a high priority drill target for the next phase of drilling…
6. Camino Minerals (COR, TSX-V), which has made a high-grade Copper discovery at its Los Chapitos Project in southern Peru, announced this morning that it has arranged a $2.5 million financing at 95 cents to immediately carry out an expanded new phase of diamond drilling…the Phase 1 reverse circulation (RC) drill program totaled 5 holes and focused on the Adriana zone, 1 of several zones located along a 6-km-long trend on the eastern side of the property…all 5 RC holes intersected varying amounts of oxide Copper mineralization…holes CHR-002 and CHR-005 also intersected sulphide mineralization averaging 1.30% Cu over 106 meters and 0.86% Cu over 44 m, respectively…
7. Tightly-held Deveron UAS (DVR, CSE), one of our favorites which is in the midst of completing a game-changing financing for at least $2 million (an initial tranche for $1.3 million has already closed) finished at its highest level (51 cents) yesterday since last summer…the company’s recently announced multi-year deal with Thompsons Ltd. is further evidence that DVR is dominating and leading innovation in drone-data-related precision agriculture…Norm Lamothe, the original owner and developer of UAS business Eagle Scout acquired by DVR last year, stated: “There are so many opportunities to apply technology to the 88 million acres of farmland in Canada, and our UAV service delivers data analytics and solutions while saving the farmer the additional burden of owning hardware, interpreting data, planning flights and dealing with the regulatory system.” Deveron UAS is making new inroads into Western Canada as well as the United States…
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