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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 $1,321 and $1,331 so far today…as of 7:00 am Pacific, bullion is down $3 an ounce at $1,323…Silver is relatively unchanged at $16.53…Copper is up 5 cents at $3.17 while Nickel is ahead slightly at $6.30…Zinc is flat at $1.49 while Cobalt is steady at a decade high above $38…Crude Oil has added 15 cents to $60.86 while the U.S. Dollar Index has rebounded one-tenth of a point to 89.82…in economic data released this morning, the Commerce Department said retail sales declined for a 3rd straight month as households curbed purchases of cars and other expensive items…meanwhile, Chinese data were encouraging with industrial production rising to 7.2% from 6.2%, fixed asset investment at 7.9% from 7.2% previously, and retail sales also climbing, from 9.4% to 9.7%…

2. OPEC has raised its growth forecast for non-OPEC production in 2018 by 280,000 barrels a day from last month’s report…the group now sees Oil supplies from outside the cartel growing by 1.66 million barrels a day this year, slightly higher than anticipated demand growth…that puts the fragile balance in the Oil market at risk of tipping into oversupply and dragging Crude prices lower…for more than a year, OPEC has partnered with other producers including Russia to limit output and drain a global glut that devastated Oil prices beginning in late 2014…U.S. production, however, has surged to record levels above 10 million barrels a day in recent months, topping the output from OPEC’s biggest producer, Saudi Arabia…

3. Trent Mell continues his aggressive acquisition strategy – First Cobalt (FCC, TSX-V) is taking over U.S. Cobalt (USCO, TSX-V) in a “friendly transaction”…all of the U.S. Cobalt issued and outstanding common shares will be exchanged on the basis of 1.5 First Cobalt common shares for each U.S. Cobalt common share issued and outstanding…the exchange ratio represents a 61.8% premium to U.S. Cobalt’s closing price yesterday and a 58.5% premium based on both companies’ 5-day volume-weighted average trading prices…this implies a total equity value of approximately $149.9 million on a fully diluted in-the-money basis…one has to wonder, how long will it be before First Cobalt tries to swallow Canada Cobalt (CCW, TSX-V) which has key assets in the northern Ontario Cobalt Camp and a current undervalued market cap of only $22 million?…Mell stated in this morning news release, “We foresee a shortage of Cobalt over the next 5 years yet there are few companies doing significant work to identify new sources of supply. This transaction creates a larger platform to discover and develop Cobalt projects for the growing electric vehicle market by combining high-quality North American assets in two of the best Cobalt jurisdictions outside the DRC.  U.S. Cobalt’s Idaho Project complements our Canadian Cobalt Camp properties, offering upside potential for shareholders of both companies. We view the First Cobalt refinery as a strategic asset as it is the only permitted Cobalt refinery in North America capable of producing battery materials. We look forward to working with the U.S. Cobalt technical team as they complete drilling in support of a maiden mineral resource estimate expected later in 2018.”

4. The Colorado Controversy builds:  Adam Travis, recently fired as President and CEO of Colorado Resources (CXO, TSX-V), is turning up the heat in his battle to replace the current board of directors at a special AGM April 17…in a news release this morning, Travis announced he has mailed a proxy circular and letter to shareholders of Colorado in advance of the company’s April 17 AGM.  “I stood up against self interested actions taken by the Chairman of the Board, Lawrence Nagy, and two interconnected directors, Terese Gieselman and William Lindqvist (the “Conflicted Directors”).  This ultimately led to my termination without cause, as your President and CEO.”  Travis went on to say, “Shareholders have not been told the full story and as you read further, you will find that in order for Colorado Resources to succeed, change is required.  I have a passion for the corporation to succeed, work in the best interests of shareholders and deliver results.  Like you, I am also a shareholder.  Along with my family, we hold approximately 6,000,000 shares of Colorado.  My interests are aligned with yours and I am motivated to maximize value for all.  Unfortunately, the self interested and oppressive actions of the majority of the board, have given me no other option but to stand up for the rights of shareholders and propose a new board of directors.  I care deeply about seeing Colorado transitioned back into a functioning and transparent company with a board of directors that will act in the best interests of shareholders. You now have a choice and the opportunity to determine the next path forward for your investment in Colorado.”  Stay tuned, folks – this is about to become even more interesting, we’re sure…

5. The Dow is up 21 points through the first 30 minutes of trading…in Toronto, the TSX is 45 points higher while the Venture has added 2 points to 831…the infrastructure buildup continues in the Eskay Heart of Gold Camp…preparatory work has started on the site of a permanent year-round camp at Seabridge Gold’s (SEA, TSX) 100%-owned KSM Project to support continuing exploration and to facilitate prompt commencement of the much larger work programs required to advance the development of KSM once a joint venture partner is obtained…iMetal Resources (IMR, TSX-V) has sampled more high-grade Gold (along with Copper) at surface at its Gowganda West Property in northern Ontario with two promising zones several km south of Tahoe Resources‘ (THO, TSX) multi-million ounce deposit, contiguous to IMR’s ground, now believed to be linked…this is an entirely fresh grassroots discovery with grades over a minimum strike length of 300 m that significantly exceed those found at surface at Tahoe’s deposit…IMR is advancing toward a near-term drill program and is also investigating Cobalt showings on the eastern side of the property…

6. A new marijuana play, Cannex Capital Holdings (CNNX, CSE), made its debut on the CSE this morning after recently completing a $48 million offering at $1…Cannex intends to facilitate growth through cash flow from operations, strategic acquisitions and partnerships…the company says it will focus on providing a range of comprehensive and flexible growth options for licensed cannabis cultivators, processors and/or dispensaries domestically and internationally, including providing turnkey real estate with operational infrastructure, as well as long-term advisory and consulting services… CEO Anthony Dutton stated, “Cannex…represents a key advancement in our corporate business plan. A CSE listing will allow us to build a strong public shareholder base and more effectively pursue a number of near-term significant growth opportunities.”  CNNX opened at $1.55 this morning and is trading at $1.30 as of 7:00 am Pacific…

7. Google will ban online advertisements promoting cryptocurrencies and initial coin offerings starting in June, part of a broader crackdown on the marketing of a new breed of high-risk financial products…Alphabet’s Google announced the decision last night in an update to its policy, which says it will begin to block ads for “cryptocurrencies and related content.” Facebook took a similar step in January, leaving the two largest web-ad sellers out of reach of the nascent digital-currency sector…

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