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

1. Gold has traded between $1,267 and $1,274 so far today…as of 6:00 am Pacific, in this early edition of 7 @ 7:00, the metal is up $2 an ounce at $1,271…Silver is 5 cents higher at $16.85…Copper has strengthened 3 pennies to $3.15 while Nickel, which soared 10% last week, has added another 8 cents to $5.80…Cobalt is now at $28.01 as it rapidly closes in on its late September high of $28.35…Crude Oil has hit its best levels since July 2015, climbing 28 cents to $55.92, while the U.S. Dollar Index has gained one-tenth of a point to 95.00…

2. Participants at the LME Week industry gathering in London last week were bullish over the sector’s prospects, especially the coming electric vehicle revolution which should see sales of new Nickel and Copper intensive cars soar in years to come…Goldman Sachs has upgraded its Nickel forecasts, pushing its 3-month Nickel view to $12,500 a tonne from $9,000, but said prices were more likely to find nearby support from China’s pollution crackdown given electric vehicle demand is a story for 2020 onwards.  “We expect Nickel prices to remain high over the next couple of months on a supportive macro-economic backdrop and market tightening driven by Chinese nickel pig iron (NPI) cuts,” it said in a report (NPI is a low-grade composite of Nickel)…

3. “Synchronous global economic growth and new supply disruptions are creating the most constructive Oil price environment since 2014,” according to Barclays…meanwhile, U.S. energy companies cut 8 Oil rigs last week, to 729, in the biggest reduction since May 2016…while supplies are tightening, analysts say demand across the globe is strong with the entire global economy expanding for the first time in nearly a decade…

4. The so-called corruption crackdown in Saudi Arabia over the weekend can be viewed as the beginning of a bigger power struggle by the heir apparent to the throne which destabilizes the region for a time and keeps Oil prices elevated…following the creation of an anti-corruption committee by current King Salman, security forces Saturday swept up 11 princes, including well-known billionaire investor Prince Alwaleed bin Talal, and 4 ministers, including the one in charge of the National Guard, according to various reports…a number of former ministers were also arrested…Crown Prince Mohammad Bin Salman, the 32-year-old known as “MBS” who will take over when King Salman abdicates the throne later this year or early next, is seen by analysts as the man behind those moves in an effort to consolidate power to his family and its allies before he takes the throne…his moves over the weekend were also consistent with his vow to tackle corruption at the highest level as part of the government’s plan to overhaul the kingdom’s economy…

5. Copper production in Democratic Republic of Congo, Africa’s top producer of the metal, was up by 9.3% this year through September, at 831,000 tonnes, according to information released today by the central bank…meanwhile, Cobalt production jumped by 18% to 59,000 tonnes while Gold production increased 5.7% to 23,000 kg…rising production should help ease the country’s economic problems…inflation is expected to hit about 50% this year, largely due to lingering effects from a period of low commodity prices…the economy has also been rattled by political upheaval caused by repeated delays since 2016 to an election to replace President Joseph Kabila…the country’s electoral commission postponed the vote again yesterday to December 2018…major investors in Congo’s mining sector include Glencore, Randgold Resources and China Molybdenum…

6. B.C.-based Copper Mountain Mining (CMMC, TSX), on a steady uptrend since June, recorded Q3 net earnings of $26.6 million (CDN) from the sale of 22.6 million pounds of Copper equivalent, including 19.3 million pounds of Copper, 6,500 ounces of Gold and 72,700 ounces of Silver…total cash cost for the quarter ended September 30, 2017 was $1.62 (U.S.) per pound of Copper sold, net of precious metals credits…Jim O’Rourke, President and CEO of Copper Mountain, commented this morning:  “During the 3rd quarter of 2017, Copper Mountain continued to mine at rates well above our guidance levels. Mill throughput averaged 41,158 tpd, 8.4% above forecast and in line to meet our 2017 guidance. The coarser grind from the higher tonnage continues to result in a slightly lower recovery, but Copper production remains on target.  We remain bullish on the outlook for the Copper market and with our production on target we are well positioned to benefit from a strong Copper price environment. During the first 3 quarters of 2017 the company has paid down a total of $43.8 million in principle and interest on project debt and leases. We continue to focus on cost control and operational improvements to further strengthen the company’s balance sheet.”

7. Futures on Wall Street are pointing to a positive open…Broadcom helped bullish sentiment this morning by making an unsolicited offer to buy Qualcomm in a deal that would be the largest technology acquisition ever…the $70 a share bid, equal to more than $130 billion, comprises $60 in cash and $10 per share in stock, and will also include Broadcom’s willingness to have Qualcomm complete its pending acquisition of NXP Semiconductors for more than $38 billion in cash…the S&P 500 has posted its longest weekly winning streak in 4 years, putting together 8 straight weeks of gains…in Toronto, the TSX begins the new week just slightly above 16,000 while the Venture, which closed at 792 Friday, will try to build on last week’s 5-point gain…Fintech Select (FTEC, TSX-V) provided an update this morning on its POS cryptocurrency solution…operating under the brand name of Selectcoin, the company has been engaged in the technical integration of its POS cryptocurrency solution over the past 2 months…the website that will facilitate the activation of consumer accounts and link cryptocurrency wallets to the Selectcoin closed loop cards has been developed and will be launched a few days prior to the announcement of the company’s first physical locations…Orca Gold (ORG, TSX-V) announced this morning that it has received ministerial approval for the acquisition of the Kinross Gold (K, TSX) Cote D’Ivoire property portfolio…

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