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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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