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1. Gold has traded between $1,288 and $1,298 so far today…as of 7:00 am Pacific, bullion is up $3 an ounce at $1,295…Silver has added 7 cents to $15.16…Copper is up a penny at $2.95…Nickel has jumped 6 cents to $5.96 while Zinc continues to climb, up slightly at $1.37…Sumitomo, Japan’s 2nd-largest smelter, says it expects to produce 7.7% less refined Copper in its 2019-2020 financial year that starts this month…Sumitomo is also the country’s biggest Nickel smelter and expects its electrolytic Nickel output to rise by 2.3% this year to meet increased demand for cathode materials used in rechargeable batteries that power electric vehicles…Sumiotomo supplies the Nickel-Cobalt-Aluminum (NCA) cathode materials used in Panasonic’s Lithium-ion battery that powers Tesla’s Model 3 and Model X…Crude Oil is up 46 cents at $60.60 while the U.S. Dollar Index has slipped one-fifth of a point to 97.07…U.S. retail sales unexpectedly eased in February on declines in grocery stores and building materials, possibly a reflection of extreme weather conditions in parts of the country…the value of overall sales fell 0.2% after an upwardly revised 0.7% increase the prior month, according to Commerce Department figures released this morning…Saudi Aramco is by far the most profitable company in the world, according to financial data just disclosed by the state-run Oil giant in Saudi Arabia…the company made a whopping $111 billion in 2018…by comparison, Apple made $59.53 billion in fiscal 2018…

2. This is no April Fool’s joke – consumers in Ontario, Manitoba, New Brunswick and Saskatchewan got hit with more Trudeau Taxes today as part of the Liberal government’s insane effort to “save the planet”…the price of gas has gone up by approximately 4.4 cents a litre in those provinces this morning while home heating fuel, natural gas and propane have also been made more expensive thanks to this federally-imposed scheme that will be challenged in the courts and at the ballot box…this is just the beginning – the Liberals say they will increase the carbon tax from $20 a tonne to $50 a tonne by 2022 in the biggest scam a Canadian government has ever inflicted on taxpayers…Catherine McKenna, Trudeau’s Minister of Earth, Sun, Air and Water, says this “creates an incentive for people to consider, maybe I should look at a more energy efficient vehicle, maybe I should choose public transportation.  You still get the money back at the end of the day” (Liberal rebate checks)…wow – that’s a direct quote…so no one really pays for this?…what about job-creating Canadian businesses?…of course we all know about Liberal math and promises – they said the federal budget would be balanced by 2019, a target they missed by only $20 billion…

3. The largest-ever public company acquisition in the U.S. cannabis sector occurred this morning as Cresco Labs (CL, CSE) is acquiring CannaRoyalty (OH, CSE), doing business as Origin House…the combination of Cresco Labs and Origin House will result in the premier distribution company serving California, the largest cannabis market in the world…the transaction represents a total consideration of approximately $1.1 billion (CDN) on a fully-diluted basis, or $12.68 per Origin House share…the combined entity will be one of the largest vertically-integrated multi-state cannabis operators in the U.S., a leading North American cannabis company by footprint, and one of the largest cannabis brand distributors…under the terms of the agreement, Origin House shareholders will receive 0.8428 of a Cresco share for each share held…the deal, which is expected to close by the end of June, comes amid a flurry of M&A activity within the North American cannabis sector that appears to be warming up as pot companies eye consolidation to stand out in a crowded field…

4. Base metals and equities are getting support today from data showing that China’s manufacturing sector enjoyed a surprise return to growth in March following government efforts to boost the economy…the Caixin/Markit survey, released this morning, rose to 50.8 in March (an 8-month high) from 49.9 in February…a reading above 50 indicates expansion…official manufacturing figures published a day earlier also pointed to a jump in activity…China’s official PMI data released yesterday showed manufacturing activity rose to 50.5 in March, up from 49.2 in February…the Chinese government has been rolling out stimulus measures including business tax cuts…

5. The Dow has jumped 172 points through the first 30 minutes of trading…Wall Street analysts are projecting a 3.9% earnings decline for S&P 500 firms in Q1, the first year-over-year decline since the 2nd quarter of 2016, according to FactSet…in Toronto, the TSX has added 56 points…pot stocks led Canada’s equity benchmark to its best 1st quarter since 2000…the Venture is off a point at 626 after posting its best March since 2016…Great Bear Resources (GBR, TSX-V) is doubling its current 30,000-m drill program at its Dixie Project in the Red Lake Camp to 60,000 m (fully financed)…a 3rd drill rig will be added…approximately 12,000 m of Phase 1 drilling still needs to be completed, so another 42,000 m are on the way…the 2 drill rigs currently on site will concentrate on defining and expanding the Hinge (DHZ) and Dixie Limb (DL) zones along strike and at depth…the 3rd rig will explore regional targets and also assist with the DHZ and DL drilling as required…timing of deployment of the 3rd drill rig is subject to completion of regional target definition…the company currently has $12 million in its treasury (plus $7.8 million in-the-money warrants)…the additional 30,000 m has a budget of $5.6 million…

6. Chemesis International (CSI, CSE) has entered into an agreement to acquire 19.9% of the outstanding common stock of GSRX Industries…through its various subsidiaries, GSRX is in the business of acquiring, developing and operating retail cannabis dispensaries in Puerto Rico and California…GSRX also operates one Pure and Natural retail kiosk and is in the process of launching 2 additional hemp based non-THC CBD retail store fronts in Tennessee and Texas…Chemesis has extensive manufacturing, processing and extraction capabilities, which ties together with GSRX’s ability to operate dispensaries and CBD stores…this will significantly expand Chemesis‘ footprint in strategic locations, specifically Puerto Rico, California, Tennessee and Texas for both THC and hemp based non-THC CBD products…as part of the agreement, GSRX has granted Chemesis a right of first refusal to manufacture GSRX’s current and future production requirements in all jurisdictions where Chemesis has production capabilities that will meet the demand of its location and product growth…GSRX also will ensure that there is dedicated shelf space for Chemesis‘ brands and products at each GSRX licensed THC dispensary and CBD store…recently GSRX raised its Q1 2019 consolidated revenue guidance to $2.7 million to $2.9 million (U.S.)…GSRX has 5 additional pre-qualified dispensary locations at various phases of development and construction for initial expansion in Puerto Rico…GSRX will issue about 11.7 million common shares to Chemesis, which is equal to 19.9% of GSRX’s outstanding total…GSRX has also granted Chemesis a pre-emptive right to maintain such ownership percentage…in exchange, Chemesis will issue 7.3 million common shares to GSRX…the shares exchanged under this transaction are subject to a mutual 36-month leak-out schedule…

7. In a bid to kick-start the long-stalled Keystone XL Oil pipeline, President Trump on Friday issued a new Presidential permit for the project after an Obama-appointed U.S. District judge in Montana blocked Keystone in November, saying the Trump administration had not fully considered potential Oil spills and other impacts (despite, of course, mountains of studies)…the White House says Trump’s move reinforces that the Presidential permit is indeed an exercise of Presidential authority that is not subject to judicial review under the Administrative Procedure Act…environmentalists, of course, see it differently, and they vow to continue their efforts to kill Keystone…meanwhile, another Obama-appointed judge is causing Trump problems in Alaska…a federal judge in that state has declared that the President’s order revoking a sweeping ban on Oil and gas drilling in the Arctic and Atlantic oceans is illegal, putting 128 million acres of federal waters off limits to energy exploration…the decision late Friday by U.S. District Judge Sharon Gleason was the 3rd legal setback last week to Trump’s energy and environmental policies…

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