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1. Gold has traded between $1,335 and $1,343 so far today…as of 7:00 am Pacific, bullion is down $7 an ounce at $1,339…minutes of the Fed’s January 30–31 policy meeting will be released tomorrow and could impact bullion, while markets are also keeping a close eye on a barrage of U.S. debt that’s being auctioned off today…the greenback, which has rallied since Friday morning, could weaken again if there is less than the required appetite for that mountain of debt…Silver is off slightly at $16.49…Copper is flat at $3.20 while Nickel has added 5 cents to $6.20…Zinc is up slightly at $1.63…Cobalt has eased off to $36.51…Crude Oil has gained 22 cents to $61.90 while the U.S. Dollar Index has jumped another one-third of a point to 89.62 after plunging to a 3-year low around 88.30 intra-day Friday…

2. This is good for the markets – small business confidence in the United States continues to surge, according to new numbers this morning from the CNBC/SurveyMonkey Q1 Business Confidence Index…this comes on the heels of 2017 numbers from the National Small Business Association, a nonpartisan lobbying group, which found that more than half of small business owners feel the national economy is doing better than it was just 6 months ago…this compares to only 20% who reported the same in December 2015 entering President Obama’s final year of office…in addition, the percentage of small business owners who say they feel very confident about the future of their own businesses is at the highest level in more than a decade…you wouldn’t know it by watching CNN…

3. After a 6-day winning streak, the Dow has retreated 145 points through the first 30 minutes of trading as North American equity markets return to action following yesterday’s holiday…in Toronto, the TSX is flat in early trading while the Venture has added 1 point to 831…here’s another interesting name change – Gold Reach Resources (GRV, TSX-V) will be known, effective tomorrow, as Surge Copper Corp. (SURG, TSX-V) to better reflect the main commodity in the company’s advanced stage Ootsa Project in British Columbia…Copper Mountain (CMMC, TSX) has reported net earnings of $67 million in 2017 on total revenue of $304 million from the sale of 73.9 million pounds of Copper, 23,800 ounces of Gold and 264,800 ounces of Silver at its mine near Princeton…the company’s cash position increased to $45 million at year-end…Jim O’Rourke, President and CEO remarked “During 2017, Copper Mountain continued to demonstrate efficiency in production and mine operations. The installment of the SAG mill bull gear in April 2017 was a major maintenance project that was completed ahead of schedule. The mine had $102.8 million in cash flow from operations and generated $67 million in earnings. The mine has continued to focus on cost controls and production efficiencies.”  Arizona Mining (AZ, TSX) has intersected 86 feet (26 m) assaying 28.6% combined Zinc-Lead and 3.7 ounces per ton Silver in an 850-foot step-out hole, opening up an entirely new area to the southwest of its Taylor deposit and highlighting the continued potential for resource growth and increased grades at its 100%-owned Hermosa Project in Santa Cruz county, Arizona…Probe Metals (PRB, TSX-V) has released an updated resource estimate for its 4 deposits at its Val d’Or East Project in northwest Quebec…the majority of the Gold occurs within the central New Beliveau deposit which totals 600,000 ounces Indicated and 531,500 ounces Inferred…463,000 of those ounces represent the Indicated open-pit constrained resource (6.3 million tonnes grading 2.3 g/t Au)…

4. B.C. has quickly turned into a NO-GO zone for Oil and gas investment:  The radical new British Columbia government is unrepentant in its illegal and unconstitutional effort to stop the federally approved Kinder Morgan pipeline (which the last B.C. government endorsed)…during a long weekend in most of Canada, the Oil-hating Green Monster (the NDP-Green alliance) announced that it’s appealing a National Energy Board ruling that allowed the pipeline project to override some Burnaby bylaws…particularly disturbing was this short sentence in a news release from the Ministries of Environment and Attorney General:  “The Province’s position is that the NEB erred by too broadly defining federal jurisdiction over interprovincial pipelines.”  Also over the long weekend, B.C. Premier John Horgan used a 2-minute pre-budget promotional video to ramp up his defiance of the pipeline expansion while also accusing Alberta of “unfair trade practices” in its banning of B.C. wine…the federal government, despite all its empty rhetoric that the pipeline expansion will go ahead, is obviously having no impact on the Green Monster despite reports of recent discussions (Trudeau’s real agenda does not favor Oil)…British Columbia has already plummeted to the bottom 25% of global Oil and gas jurisdictions according to the latest Fraser Institute survey…meanwhile, on the opposite side of the country, there is some sanity and common sense when it comes to development of Canada’s rich Oil resources – cash-strapped Newfoundland and Labrador has launched a 12-year plan to speed and increase offshore Oil and gas development while drawing coveted global investment…the province will review regulations, enhance seismic data and advance cost-saving tie-back technology to extract more from existing sites…its goal is to double overall production to more than 650,000 barrels a day by 2030…they’ll be able to draw plenty of capital (human and investment) from British Columbia to aid their efforts…

5. Alberta intends to limit how many retail cannabis licenses one organization can hold in an effort to prevent industry powerhouses from dominating a market that is scheduled to be legalized later this year…no person or group will be allowed to hold more than 15% of the licenses, the provincial government announced on Friday…further, the proposed rules give the government power to set a floor price for recreational marijuana…the province estimates roughly 250 private retail marijuana stores will set up shop within its borders in the first year… the proposed regulations, according to the NDP government, are designed to ensure public safety, shrink the black market and give small businesses a toehold in the sector…

6. Canopy Growth (WEED, TSX) has firmed up this morning on news that it has received a cultivation license for the first of its two sites operating under the BC Tweed Joint Venture Inc. banner…the rapid licensing of the Aldergrove site, the largest federally licensed cannabis site anywhere in the world (amazing how B.C. can get pot to market but doesn’t want Oil to get to market), continues a pattern of execution for the company as it prepares to meet an unprecedented increase in demand in a few short months once legal adult-use markets commence…the initial licensing covers over 400,000 sq. ft. of growing space, allowing vegetative growth so that the mature plants can be spread into the full 1.3 million sq. ft. in the coming months for flowering and ultimate harvest…over the weekend, the site received the largest single shipment of pot plants (100,000) in the company’s history…with the Aldergrove site now into the production stage, BC Tweed’s focus will turn to its second B.C site, a 1.7 million sq. ft. greenhouse, with work already well under way…with this expansion, Canopy Growth is on track to have over 5.6 million sq. ft. of domestic growing space…

7. Fission Uranium (FCU, TSX) has increased Inferred resources by 95% and Indicated resources by 8% at its Triple R deposit in the Athabasca basin that now now includes the R1515W, R840W, R00E, R780E and R1620E zones…Triple R is now estimated to contain 87.8 million tonnes pounds of U3O8 Indicated resources based on 2,186,000 tonnes at an average grade of 1.82%, including the R780E high-grade zone of 48,246,000 pounds U3O8 based on 119,000 tonnes at a grade of 18.39%…Inferred resources total 52.9 million pounds U3O8 based on 1,331,000 tonnes at an average grade of 1.80%, including the R780E high-grade zone of 14,710,000 pounds U3O8 based on 32,000 tonnes at a grade of 20.85%…also included in the updated resource estimate are 32,000 and 24,000 ounces of Gold, respectively, in the Indicated and Inferred categories…President Ross McElroy commented, “With the deposit open in multiple directions, there is superb potential for continued growth. This is particularly the case for the R1515W zone, which is a high-priority focus in our current winter exploration program. Overall, this new resource estimate is a strong milestone as we continue towards pre-feasibility.”

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