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1. Gold has traded between $1,315 and $1,320 so far today…as of 7:00 am Pacific, bullion is up $6 an ounce at $1,319…Gold has gained more than 13% since touching 1.5-year lows last August, buoyed by a host of factors including aggressive central bank buying…heading into a busy week of macroeconomic updates, Gold ETFs added to their holdings for a 3rd straight day Friday, bringing total year-to-date net inflows to 1.02 million ounces…Bloomberg data shows that total Gold held by ETFs has risen 1.4% this year to 72.1 million ounces…meanwhile, the bullish-looking TSX Gold Index is in a position today to close above 200 for the first time since January of last year…Silver has added 11 cents to $15.51…Copper prices touched their lowest levels in more than a month today on worries about global economic growth, but falling inventories and the upcoming peak demand season for industrial metals are expected to limit the pullback…Copper and Nickel are off slightly at $2.88 and $5.81, respectively, while Zinc is unchanged at $1.29…Crude Oil has pulled back 26 cents a barrel to $58.78 while the U.S. Dollar Index has lost one-tenth of a point to 96.52…a better-than-expected business confidence survey came out of Germany this morning, easing some of the concerns regarding slowing growth in the euro zone…
2. “Collusion Delusion”: The findings of the Mueller report released yesterday prove that Democrats, with the help of their discredited friends in the mainstream media, conducted a fraud against the American people for much of the past 2 years, falsely accusing President Trump of colluding with Russia or Russians to win the 2016 election and then “obstructing justice” to try to cover up a crime that was never committed (the left has consistently tried to delegitimize the Trump victory and presidency)…will there ever be a full accounting of how Democrats colluded with the media, the “deep state” and international elites to pull off this scam that included illegally obtained warrants from FISA court judges thanks, in part, to a Fake Dossier funded by the Clinton campaign?…the end result will likely be a Trump landslide win in 2020 (the White House, the House and the Senate), something the markets can be expected to factor in as 2019 progresses…with the Mueller fiasco now behind him, Trump can focus on completing a trade deal with China in Q2 which will further bolster his re-election chances while also giving the metals sector a big lift…
3. Tom Bradley, President of Steadyhand Investment Funds, says 2 global forces will shape investment returns over the next decade – debt fatigue, and the world’s expanding middle class…last week it was reported that consumer debt as a percentage of disposable income hit a new high in Canada…high levels of consumer, business and government debt, not just in Canada of course but across many parts of the globe, are unsustainable…there will be a day of reckoning as the world carries a heavier debt load today (relative to incomes and size of economy) than it did before the 2007-08 debt crisis…on a more positive note, there’s a big, dynamic world out there…indeed, a vast majority of the 7.5 billion people on the planet live in regions that are growing…and more importantly, the middle class in India, China and other parts of Asia is expanding rapidly…according to Consensus Economics, 12% of India’s population was middle class in 2017…by 2030, the percentage is expected to be close to 80%…think about it – there will be an additional 350–500 million people in India alone who might buy an appliance, subscribe to a streaming service, take a vacation or buy stocks…even if the number turns out to be just 50%, the potential is incredible for global sellers of products and services, and the resource sector (somehow) will have to provide the metals necessary to feed all of that demand…
4. The Dow has fallen another 103 points through the first 30 minutes of trading after Friday’s tumble…in Toronto, the TSX is down 60 points, though Gold stocks are pushing higher with the TSX Gold Index up 3 points at 202…Atlantic Gold (AGB, TSX) reported this morning that Proven and Probable Reserves at its Moose River Consolidated mine in Nova Scotia have increased by 401,000 ounces or 27% of the depleted Reserve base (as at December 31, 2018) as a result of additions to Reserves at the Touquoy, Fifteen Mile Stream and Cochrane Hill deposits…total Reserves for all deposits are now approximately 1.9 million ounces…mine life now exceeds 10 years and compound annual growth in production at MRC is 21%…the Venture has retreated 7 points to 631 but the winning strategy in 2019 will continue to be to buy the dips – the technical and fundamental underpinnings of this market are looking better than they have in a long time…it’s a typical bland Monday morning on the Venture but there’s every reason to expect this market to heat up going into month-end and quarter-end on Friday…
5. It was announced this morning that Eric Sprott will retire as Chairman and a member of the board of Kirkland Lake Gold (KL, TSX) following the company’s 2019 AGM on May 7…Sprott has served as the Chairman of the Board since November 2016 and was the Chair of KL since February 2015…Tony Makuch, President and CEO of Kirkland Lake Gold, commented: “I consider myself very fortunate to have had the opportunity to work with Eric over the last 2.5 years. Not only is he a great business leader with an accurate and informed view of the market, he has been a mentor and confidant to me, providing solid advice and direction. I will certainly miss our early morning calls and meetings. During his tenure as Chairman, Kirkland Lake Gold has emerged as a top performing Gold company, one that is well positioned for continued growth and value creation in the years to come. On behalf of the Company’s Board of Directors, management, employees and stakeholders, I would like to express our thanks to Eric for his dedication and leadership over the past five years and wish him all the best in his retirement. As we advance our growth plans, we look forward to receiving his continued input and support”…Sprott stated, “During the past 5 years, we have succeeded in creating a truly unique Gold company which continues to have significant upside potential. While I have decided that now is the right time for my retirement, I fully expect to remain a very interested and engaged shareholder of the coompany”…
6. Vote buying?…Newmont Mining’s board of directors has declared a one-time special dividend of 88 cents per share of common stock, conditional upon approval of the Goldcorp transaction which has been getting some pushback…the dividend will be paid to Newmont shareholders of record as of April 17, 2019, which is prior to closing of the proposed Newmont-Goldcorp combination…the special dividend is conditional upon the approval by both Newmont’s and Goldcorp’s shareholders of the resolutions to be considered at their shareholder meetings on April 11 and April 4, 2019, respectively, in connection with the proposed transaction…the special dividend will be paid, subject to satisfaction of the conditions, on May 1, 2019…closing of the Newmont–Goldcorp transaction is expected shortly after the 2 shareholder special meetings if shareholders of both companies approve the resolutions…Newmont says the special dividend delivers value to existing company shareholders with an immediate cash payment for a portion of the synergy potential arising from the Nevada joint venture announced with Barrick Gold (ABX, TSX; GOLD, NYSE) on March 11, 2019…the dividend will be paid to the holders of Newmont’s currently outstanding shares as of the record date, and not in respect of shares to be issued in connection with the proposed Newmont-Goldcorp transaction…
7. Pharmacy giant CVS Health Corp. (CVS, NYSE) is jumping on the CDB bandwagon…the mammoth American drugstore chain has announced that it will sell CBD-infused products in 800 stores across 8 U.S. states – Alabama, California, Colorado, Illinois, Indiana, Kentucky, Tennessee and Maryland…“We are carrying hemp-derived CBD products in select states to help meet consumer demand for alternative care options,” said CVS spokesperson Mike DeAngelis…a psychoactive but non-intoxicating cannabis-derived cannabinoid, CBD has been legal since late last year when the federal farm bill was passed, allowing the compound to be added to topical and cosmetic products if derived from hemp…the drugstore will be adding CBD balms, salves, creams, sprays, and roll-ons to its inventory in what CVS refers to as providing consumers with an “alternative source of relief”…CNBC reports that CVS says the claims of effectiveness “will vary from product-to-product” but that the drugstore has no intention of marketing CBD-infused goods as a “cure-all”…
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Jon, what are you hearing Trump making a deal with China? This seems to going on forever…
Comment by flyinthruu — March 25, 2019 @ 8:05 am
I’m betting on a deal with China in Q2, flyinthru, those are the latest rumors…now that the Mueller probe is done with, Trump has stronger leverage than ever but he knows he has a short window – certainly can’t wait until next year given the 2018 elections…he has China right where he wants them right now…
Comment by Jon - BMR — March 25, 2019 @ 12:53 pm
Seeing lots of chatter about Kontrol Energy (KNR) entering a partnership with Toyota for smart hardware/software installation on the North American production lines. Very tight float (30M) and under $25M cap. Some are claiming deal could be worth hundreds of millions but lots of work still needs to be done.
Comment by adrobyshev — March 25, 2019 @ 1:18 pm
Update from GEMC – just the beginning of a major ramping up of this story, we suspect…should see something very interesting here given grades from historic production at Lovelock in late 1800’s – 12% Nickel and 14% Cobalt, plus historic high-grade Copper drill hole intersections at Treasure Box…
Vancouver, BC / TheNewswire / March 26, 2019 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or “GEMC” ) is pleased to announce that the Company has made its first option payment, as part of the agreement with Nevada Sunrise Gold Corp., to acquire an 85% interest in the Lovelock Cobalt Mine, under-explored for its high-grade cobalt-nickel-copper potential, and the adjacent Treasure Box Project ( refer to January 21, 2019 news release ). GEMC has issued 384,627 common shares of the Company to Nevada Sunrise and paid USD$20,000 to the underlying vendor.
Additionally, the Company is also pleased to announce that it is reviewing exploration plans for both of the properties located in Churchill County, approximately 150 kilometres east of the Tesla Gigafactory in Sparks, Nevada.
The program will assist with an ongoing extensive review and reinterpretation of historic data.
“There has been a tremendous amount of attention placed on the US for it to stop being merely a bystander in the global battery arms race and start developing more domestic supplies of battery metals such as cobalt, nickel and copper to supply its homegrown battery factories, including Nevada-based Gigafactory 1,” commented Mitchell Smith, Director & CEO. The Lovelock and Treasure Box projects are prime examples of US based battery metal projects that are very prospective and strategically located in close proximity to a domestic end-user with a large appetite for the critical materials used in EV and energy storage technology.”
Qualified Person
Mr. Paul Sarjeant, P. Geo., the Company’s QP and Director, is the qualified person for this release as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and verified the technical information contained herein.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. Global Energy Metals currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to acquire 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia
Comment by Jon - BMR — March 26, 2019 @ 6:19 am
http://www.mining.com/scientists-find-new-way-power-electric-cars-using-cobalt/
Comment by Silverhook — March 26, 2019 @ 6:52 am