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1. Gold has traded between $1,331 and $1,342 so far today…as of 7:00 am Pacific, bullion is up $4 an ounce at $1,339…Silver has added 7 cents to $16.55…base metals are hot today…Copper and Nickel have climbed 5 cents and 10 cents, respectively, to $3.13 and $6.16 while Zinc is up a penny at $1.47…Cobalt is steady at $41.50…Crude Oil has surged $1.29 a barrel to $64.71 while the U.S. Dollar Index is relatively flat at 89.89…what a coincidence!…Chinese President Xi Jinping announced today that he would open up the Chinese economy, lowering tariffs for autos and other products and enforcing the legal intellectual property of foreign firms…this comes after the liberal mainstream media was mocking President Trump again last week for his supposed mishandling of trade relations as he wisely ramped up the pressure on China…Palladium prices are surging again today after yesterday’s 4.2% move, the biggest 1-day gain since September…the latest round of U.S. sanctions have jolted a broad range of Russia-related assets, sending the ruble and Russian stocks reeling…Russia is the world’s largest producer of Palladium…
2. All Canadians within the political mainstream must now question the judgement of rookie British Columbia Premier John Horgan whose tenuous coalition government will hopefully (somehow) soon fall on its sword…Horgan actually said in a news conference Sunday, regarding Kinder Morgan’s (KML, TSX) threat to halt the Trans Mountain Pipeline Project due to opposition from the B.C. government, “I respectfully disagree that this project is in the national interest.” A comment such as that only underscores the economic ignorance of a politician, in this case the leader of a jurisdiction blessed with some of the richest resources on the planet, who has spent his entire career in government pursuing left-wing causes since obtaining his Masters of History from the University of Sydney (Australia) in 1986…this type of outlandish thinking by a career bureaucrat, not much different than Obama’s, is exactly why Americans put a proven businessman in the White House in 2016, and one of President Trump’s first moves was to reverse Obama’s decision on Keystone…the Kinder Morgan pipeline expansion is critical to Canada’s national interest (even lefty Justin Trudeau admits this, though unfortunately it seems he’s not prepared to do anything about it)…Canada now has a serious pipeline capacity problem, one that is costing the national economy about $16 billion a year according to a recent bank report…our vast Oil reserves have become landlocked, and this is why Western Canadian Select Oil prices are now at a much steeper than usual discount to WTI prices…we must urgently get our Oil to international (Asian) markets…two proposed pipelines (Northern Gateway and Energy East) have already been rejected, so the expansion of an existing pipeline (Trans Mountain) which has operated safely for decades remains the only solution to address this problem…to grab the reigns of power in B.C., Horgan aligned himself with Green Party leader Andrew (Wacky) Weaver who not only also staunchly opposes the Kinder Morgan pipeline, but wants to take the anti-fossil fuel agenda of climate change fanatics to another level by killing a potential $40 billion investment in northwest British Columbia by LNG Canada (the largest proposed industrial project in B.C. history which the NDP actually supports)…Weaver worships the false Green Gods and has consistently been on the side of foreign-funded, foreign-orchestrated smear campaigns against Canadian jobs – he and his 2 other Green members of the legislature are now holding B.C. hostage to a radical, dangerous ideology…polls show that most British Columbians support the Kinder Morgan pipeline expansion – it’s time for British Columbians to take back their province, just like it’s time to Make Canada Competitive Again…
3. Good news: U.S. producer prices increased more than expected in March, boosted by a rise in the cost of services such as healthcare and airline fees, pointing to a modest buildup of wholesale inflation pressures (yes, the economy needs a little more inflation)…the Labor Department said today that its producer price index for final demand rose 0.3% last month after rising 0.2% in February…that lifted the year-on-year increase in the PPI to 3.0% from 2.8% in February…economists polled by Reuters had forecast the PPI gaining 0.1% last month and advancing 2.9% from a year ago…
4. Kinross’ Russia problem: Kinross Gold (K, TSX) fell to a 17-month low yesterday amid a stock market crash (11% drop) in Russia…that’s where Kinross operates the Kupol and Dvoinoye Gold mines…on Friday, the United States imposed sanctions on a number of Russian oligarchs, freezing their assets and banning any U.S. business dealings with them…the broader Russian stock market and the Russian ruble came under heavy selling pressure as investors fled from companies with exposure to the country…Maison Placements Canada analyst John Ing stated, “It’s always been the Achilles heel, their heavy exposure to Russia.” Kinross is increasingly diversifying outside of Russia but its execution has fallen short at times…the company predicts that 20% of its 2018 production will come from Russia…60% of its production will come from the Americas and 20% from Africa…
5. Looking for new ways to make money?…Facebook (FB, NASDAQ) says it will pay upwards of $40,000 to people who catch large data leaks…the company announced a bounty program today, just in time for CEO Mark Zuckerberg’s Congressional testimony beginning later this morning…the program would reward people who find cases of data abuse on Facebook’s platforms…payouts start at $500, and people can receive more than $40,000 for big discoveries…the data abuse program is the first of its kind in the industry…
6. U.S. markets continue to rebound strongly after Friday’s unnecessary tariff tantrum...the Dow has jumped 330 points through the first 30 minutes of trading…the TSX is 68 points higher while the Venture has slid 3 points to 762…Crystal Lake Mining (CLM, TSX-V) is now rebounding, as expected, following a technical correction with the stock up 7.5 cents at 52 cents as of 7:00 am Pacific…guided by former broker Richard Savage and geologist Dr. Peter Lightfoot, CLM is uniquely positioned to become the next prolific Nickel sulphide play in Canada after Garibaldi Resources (GGI, TSX-V)…
7. Probe Metals (PRB, TSX-V) still isn’t getting a lot of love in the market despite the fact the company continues to deliver consistently solid results from a continuing 85,000-m drill program at its 100%-owned Val d’Or East Project…fresh results this morning from 44 drill holes, including 9 m grading 20.5 g/t Au in PC-18–311, indicate further expansion of the new Gold resource along the Pascalis Gold Trend…David Palmer, President and CEO of Probe, states, “Following our recently announced 43–101 updated resource estimate, we are remaining focused on continued resource expansion. Our goal for 2018 is to increase not only size but also confidence in our resource ounces and, based on the current results, we are well on our way to achieving this. Our long-term strategy of value creation through a well-planned and aggressive exploration program is realizing success as we continue to advance the project towards a potential development scenario.” PRB is up slightly in early trading at $1.30, about a dime below its still-rising 500-day moving average (SMA)…
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