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1. Gold has traded between $1,260 and $1,266 so far today…as of 7:00 am Pacific, bullion is off $2 an ounce at $1,260…Silver is also down slightly at $16.09…Gold appeared to bottom last week in the upper $1,230’s at key Fib. and RSI(14) support…holdings of the world’s largest Gold-backed exchange-traded fund, New York-based SPDR Gold Shares, fell 7.1 tonnes yesterday, their largest 1-day outflow since late July…Gold prices will average $1,280 an ounce in 2018, with buying interest as an inflation hedge and due to loose monetary policy globally, despite a stronger U.S. dollar, BMO Capital Markets stated in a report late yesterday…Copper and Nickel are steady at $3.12 and $5.33, respectively…China said it would cut duties on some steel exports, raising expectations for demand and allowing Nickel prices to hit their best levels in more than 3 weeks…Crude Oil is up 25 cents at $57.41 while the U.S. Dollar Index has fallen one-fifth of a point to 93.52…

2. As Congress gets set to pass the most sweeping tax reform in a generation, buoyant American attitudes on the economy look set to show up in plentiful, record-setting holiday spending this season…the CNBC All-American survey found that average holiday spending intentions will top $900 for the first time in the 12-year history of the survey, eclipsing last year’s estimate of $702 by a wide margin…the survey found a surge in the percentage of Americans planning to spend more than $1,000, to 29% from 24% of the population…the survey found that more than 50% of the public believe the economy is in good or excellent shape and that half believe it’s a good time to invest in stocks, the highest showing for both metrics in the survey…

3. The Dow has retreated slightly in early trading, down 13 points as of 7:00 am Pacific after posting back-to-back gains totaling near 300 points…in Toronto, the TSX has climbed 63 points while the Venture is flat at 807 after breaking above a 2017 downtrend line yesterday…Fintech Select (FTEC, TSX-V), which will be launching its physical bitcoin product alongside its Selectcoin closed-loop swipe card at an official launch Thursday, is up 4 cents at 57 cents…Cobalt 27 (KBLT, TSX-V) has closed an $85 million bought deal to invest in more physical Cobalt and explore additional opportunities with explorers…Chinese investment firm Nextview New Energy Lion Hong Kong is buying Frank Giustra’s Lithium X Energy (LIX, TSX-V) for $265 million…LIX’s main asset is the Sal de los Angeles Lithium Project in Salta, Argentina…

4. A.I.S. Resources (AIS, TSX-V), well advanced in its pursuit of Lithium in Argentina, has announced that it has completed the mass balance chemistry and process engineering that will be used to determine the raw materials used to purify the Lithium brines from its Guayatayoc Project…this process engineering information will be used in the design, engineering, and construction of a planned 8,000–10,000 tonne Lithium Carbonate plant…the analysis used fractional crystallization and ion exchange resins to purify the Lithium Carbonate to higher than 99.5% Lithium Carbonate…Phil Thomas, Chief Operating Officer, stated, “This is a significant milestone we’ve achieved. We now have proof of process, that can be scaled up to 10,000 tonnes. The data we have is extremely valuable covering all the phases in the process, and after pumping tests are completed will allow us to go to design, engineering and construction.”  Near-term, AIS will focus on drilling as well as production geohydrology…

5. The infamous past producing Eskay Creek mine, 15 km northwest of Garibaldi Resources‘ (GGI, TSX-V) high-grade Nickel-Copper discovery at Nickel Mountain, is coming back into play…Skeena Resources (SKE, TSX-V) has signed an agreement with Barrick Gold (ABX, TSX), granting an option for the junior to acquire a 100% interest in Eskay Creek.  Walter Coles Jr., Skeena CEO, stated:  “Eskay Creek was a remarkable discovery that became an extraordinary mine. It produced 3.3 million ounces of Gold and 160 million ounces of Silver from 2.2 million tonnes of ore from 1994 until closure in 2008. We are honored that Barrick has given us an opportunity to investigate and potentially revitalize one of Canada’s highest-grade past-producing mines.”

6. Canadians consumed as much as $6.2 billion of marijuana in 2015, almost as much as they spent on wine, the federal statistics agency said yesterday as it gears up to officially track weed when it becomes legal next year…the agency calculated the value by estimating 4.9 million people consumed 698 metric tons of cannabis that year, at an assumed price range of $7.14 to $8.84 a gram…it used government health and social surveys and outside research to create its model…Stats Canada called its report “Experimental Estimates of Cannabis Consumption in Canada, 1960 to 2015” and admitted there is “currently no systematic process” for measuring usage…the agency warned its estimate for the market is very rough, and actual consumption could “reasonably” be as low as half or as much as double…

7. Alberta is getting a much-needed investment boost:  Inter Pipeline (IPL, TSX) announced plans yesterday for the construction of a world-scale integrated propane dehydrogenation (PDH) and polypropylene (PP) plant…the facilities, collectively referred to as the Heartland Petrochemical Complex, are estimated to cost $3.5 billion in aggregate and will be located in Strathcona county near Inter Pipeline’s redwater olefinic fractionator…the Heartland Petrochemical Complex will take 22,000 barrels of propane per day and convert it into 525,000 tonnes per year of “polymer grade” plastic pellets…the pellets are used to build every day consumer plastic products such as bottles and toys….construction of the complex will begin shortly with completion scheduled for late 2021…

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