Visit the BMR comments section throughout the day for updates and helpful information!
1. Gold has traded between $1,266 and $1,276 so far today…as of 7:00 am Pacific, bullion is off $6 an ounce at $1,269 due to a fresh surge in the greenback…a strong support band for the yellow metal exists between $1,260 and $1,240 and could be tested if the dollar keeps pushing higher…Russia’s central bank added another 18.7 tonnes of Gold to its reserves in March, raising its Q1 total to 56 tonnes…Russia’s Gold reserves have been steadily climbing since 2014, according to World Gold Council data…Gold now represents around 18% of the central bank’s total reserves…Silver has slipped 24 cents to $14.76…base metals are also under some pressure due to a stronger greenback with Copper, Nickel and Zinc at $2.89, $5.62 and $1.29, respectively…Crude Oil has hit fresh 2019 highs, continuing to rally after the Trump administration announced plans to slash Iranian Crude exports…WTI is up another 64 cents to $66.19…the Dollar Index has jumped one-third of a point to 97.62…the greenback got a boost from news that sales of new U.S. single-family homes jumped to a 1.5-year high in March, the 3rd straight monthly increase, boosted by lower mortgage rates and house prices…the Islamic State has claimed responsibility for the horrific Easter Sunday attack that killed at least 321 people and injured hundreds more, describing the suicide bombers as its fighters…“Those who carried out the attack that targeted citizens belonging to the alliance countries and Christians in Sri Lanka are fighters with the Islamic State,” according to a statement on IS news agency Amaq carried by SITE, which tracks jihadist groups…
2. Elon Musk, known for making bold and sometimes outlandish statements, has thrown down the gauntlet to other automakers…“The fundamental message that consumers should be taking today is that it’s financially insane to buy anything other than a Tesla,” the CEO of the electric auto maker said after yesterday’s robotaxi announcement…“It would be like owning a horse in 3 years. I mean, fine if you want to own a horse. But you should go into it with that expectation”…on stage at the Tesla Autonomy Investor Day in Palo Alto, California, Musk boasted about Tesla’s self-driving technology, predicting his company will have more than 1 million robotaxis on the road next year…“I feel very confident in predicting autonomous robotaxis next year,” adding he expects the scheme to operate on a model similar to that of Uber or Airbnb…“If you buy a car that does not have the hardware for full self-driving, it is like buying a horse,” he reiterated…“And the only car that has the hardware for full self-driving is a Tesla”…
3. The Dow is 77 points higher after the first 30 minutes of trading as Wall Street cheered better-than-expected profits from some of the largest publicly traded U.S. companies…Twitter’s Q1 earnings report crushed expectations, sending the stock surging nearly 20% in early trading…the pop added around $3.9 billion to Twitter’s market cap, bringing it over $30 billion…in Toronto, the TSX is up 45 points while the Venture has retreated 2 points to 609…Chibougamau Independent Mines (CBG, TSX-V), yesterday’s big gainer, has pulled back 3 pennies to 18.5 cents after Jack Stoch announced some high-grade drill intervals yesterday at depth in the C-3 zone at the Bateman Property in northern Quebec…BJ-19–17 cut 8.5% Copper over 5.9 m starting 391.7 m downhole…CBG faces strong technical resistance in the upper 20’s where it hit a wall yesterday…Tinka Resources (TK, TSX-V) has commenced a 10,000-m 2019 drill program at its 100%-owned Ayawilca Zinc Project in central Peru…the company anticipates a 2nd rig will be mobilized to the site within the next few weeks…several deep holes are planned at West and South Ayawilca to test for structural repetitions of high-grade Zinc mineralization in limestones beneath existing Zinc resources, which will also double as infill holes…additional holes will be drilled along strike of existing resources to test for extensions of the mineralization where the resource still remains open…Tinka’s Preliminary Economic Assessment for the Ayawilca Project remains on track to be completed by the end of June…
4. American Pacific Mining (USGD, CSE) has added a 2nd project in Nevada to its portfolio, shortly after optioning its Tuscarora Property to OceanaGold (OGC, TSX) which will be carrying out an extensive drill program this summer (investors will appreciate that deal more in a few months)…USGD has acquired the historic Gold and Silver Gooseberry mine in Storey county through staking…next steps include data review, sampling and eventual drilling…Eric Saderholm, American Pacific President, commented, “The Gooseberry Project is a low sulphidation, epithermal system with high-grade Gold and Silver mineralization hosted in quartz carbonate veins. The project was intermittently productive over the last century, and it’s our belief that there is a lot of exploration potential remaining over the project area. When the last operators were mining at Gooseberry, Gold was only $353 per ounce, so little exploration was taking place. I look forward to reviewing the historic data and starting the 2019 sampling programs as soon as possible”…sporadic hardrock Gold and Silver mining took place at Gooseberry between 1906 and 1991, with little to no exploration occurring beneath the lower levels of the underground mine…the Ramsey district, where the project is located, also remains under-explored compared with many other areas of Nevada…infrastructure includes power to the area, main highways and some roads through the project which may need minor rehabilitation…
5. Chemesis International (CSI, CSE) announced this morning that affiliate GSRX Industries is expecting strong Q2 sales from its 6 operational dispensaries in California and Puerto Rico…GSRX has 5 owned-and-operated Green Spirit RX medicinal cannabis dispensaries in Puerto Rico and at its owned-and-operated Green Room dispensary in Point Arena, California…GSRX also operates 1 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…as previously announced, Chemesis acquired 19.9% of GSRX as part of its decision to expand its retail strategy across the United States and Puerto Rico…GSRX has reported daily sales for the first 3 weeks of the 2nd quarter that are approximately 27% higher than its average daily sales in Q1…it now anticipates revenues of approximately $3.3 to $3.5 million for the 2nd quarter…this follows record Q1 revenues of $2.9 million with a rise in gross profit to 51.76%…
6. The mistake-prone Trudeau government has taken the first step toward approving a new device for testing drivers’ saliva for cannabis use…over the Easter weekend, the government posted a notice that it intends to approve the Abbott Sotoxa for police forces to use, potentially giving them a 2nd option…the device must now go through a 30-day public consultation period before it can receive final approval…Abbott is an Illinois-based health-care company that acquired Alere, a Massachusetts company that has long manufactured saliva-testing drug devices, in a $5.3 billion transaction in 2017…it advertises Sotoxa as a hand-held device that provides test results in less than 5 minutes…the Draeger DrugTest 5000 made it through the government’s approval process last year…testing is overseen by a specialized committee of the Canadian Society of Forensic Science, which then makes a recommendation to the attorney general when it determines a device meets the government’s established standards…
7. Canadians’ personal finances and consumer debt levels have deteriorated over the past few months, according to a Financial Post report this morning…this is rather astonishing, but nearly half of Canadians say they are $200 or less each month away from financial insolvency, according to a survey conducted by Ipsos on behalf of MNP…this includes 1 in 4 who say they have no wiggle room at month-end, as they already do not make enough to cover their bills and debt payments…MNP president Grant Bazian say: “When there is this little room in the household budget, people can easily get trapped in an endless cycle of debt. This isn’t simply a matter of people living beyond their means. The reality is that too many households simply cannot make ends meet, however hard they try”…those surveyed also say they have been broadsided by interest rates that began rising last year…just over half of Canadians are concerned about repaying their debts (54%) or think they may get into financial trouble (47%) if interest rates increase, with 35% indicating that a rate increase could push them towards bankruptcy…
Most Popular Recent BMR Posts
Video: How This Innovative Junior Is Winning The “Battery Arms Race” In Northern Ontario
“The Enemies Of Progress, The Radical Environmentalists, Are Ramping Up For A War In The Woods”
Why Are These People Smiling? – Their Stock Has Tanked 80%!
The Template For The Next 10% Stake In Garibaldi Resources
The Nickel Mountain Magma Highway
Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember
How To Bring A Junior Resource Market To Life!
Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies
The Most Important Venture Development Since The New Bull Market Began
