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1. Gold hit a 4-week low today, pressured by a further appreciation in the greenback with the U.S. Dollar Index pushing to a 3-and-a-half month high…Gold has traded between $1,318 and $1,329, and is down $10 an ounce at $1,319 as of 7:00 am Pacific…Silver has slid 16 cents to $16.52…Copper is off 2 pennies at $3.15…Nickel is up a penny at $6.34…Zinc is 3 cents lower at $1.42 while Cobalt remains steady at $41.50…Crude Oil has added 8 cents to $67.78 while the U.S. Dollar Index has strengthened one-third of a point to 91.12…Bitcoin, which was up as much as 50% this month after its intra-day high near $10,000 (U.S.) yesterday, has pulled back to just above $9,000…

2. New fintech startup Tradewind, a blockchain-powered Gold trading platform which reflects the rapidly evolving landscape for trading precious metals, has announced that it has raised $10.6 million in a strategic placement led by Agnico Eagle (AEM, TSX), IAMGOLD (IMG, TSX) and Wheaton Precious Metals (WPM, TSX)…in addition, existing stakeholders Sprott Inc. and Goldcorp (G, TSX) increased their investment in the company…Silicon Valley based venture capital firm Sapphire Ventures also became a new investor in Tradewind…Matthew Trudeau, President and co-founder of Tradewind, says the demographics within the Gold sector are changing and a digital platform that allows investors to buy fractional quantities of Gold will allow companies to reach untapped potential, specifically millennials.  “Everyone thinks millennials don’t have any money, but that isn’t accurate,” said Trudeau.  “We are sitting on the cusp of the biggest transfer of wealth in history.”  Trudeau believes that his startup’s platform will help streamline the transition to an entirely digital marketplace…Tradewind was a #DisruptMining finalist in 2017 and has raised $22.8 million in capital since inception…

3. What a mess in the Congo, which makes the northern Ontario Cobalt Camp more attractive than ever…the latest problem is that the DRC’s state-owned mining company, Gecamines, has accused Katanga Mining (KAT, TSX) of draining hundreds of millions of dollars from their joint-venture Copper and Cobalt mining company…Katanga soared as high as $2.83 in early January on projections that it would become the world’s biggest producer of Cobalt…however, the fragility of Katanga’s position came into clear focus this week on the revelation of a dispute between Glencore, majority owner of Katanga, and Gecamines…in a statement yesterday, Gecamines said Glencore and Katanga had created a massive debt of about $9 billion (U.S.) at the joint venture, forcing the local company to pay interest rates of up to 14% to Glencore which controls 75% per cent of the JV…the DRC also accuses Glencore and Katanga of failing to pay their fair share of revenue to the state…KAT lost almost half its value Monday, rallied yesterday but is down sharply again in early trading today…

4. Oil prices have pulled back this morning after U.S. government data showed an unexpected rise in stockpiles of Crude Oil and gasoline as the nation’s refineries dialed back activity…U.S. Crude inventories increased by 2.2 million barrels in the week to April 20, according to a report by the Energy Information Administration…Brent prices yesterday briefly breached $75 a barrel for the first time in over 3 years…the trend in Oil remains strongly bullish…keep in mind that at some point, likely during 2019 according to most analysts, the Oil market will be feeling the delayed effects of a 40% slump in investment from late 2014 to early 2017, storing up a structural shortfall of up to 10 millions a barrel a day…

5. The Dow is down 149 points through the first 30 minutes of trading despite an earnings blowout from Boeing…in Toronto, the TSX is relatively unchanged…Barrick Gold (ABX, TSX) executives say the company is shifting to a growth strategy, focusing on Nevada and the Dominican Republic, and will no longer sell assets in order to reduce its billions of dollars in debt…proceeds from any asset sales will be plowed into new projects or returned to shareholders…Barrick yesterday reported adjusted quarterly earnings of 15 cents per share, slightly above the consensus estimate…Corvus Gold (KOR, TSX), one of the top performing Gold stocks this year, reported results this morning from 3 step-out holes in the southwest extension of its Mother Lode deposit in Nevada highlighted by 33.5 m grading 2.2 g/t Au in ML18–053…this included 19.8 m @ 3.3 g/t …the company says a thickening oxide zone to the west is consistent with mineralization found in other holes to the north and could define a fundamental change in the system as drilling progresses west…Nemaska Lithium (NMX, TSX) has closed its previously announced private placement of 88,460,446 subscription receipts at a price of $1.12 per receipt for aggregate gross proceeds of $99.1 million…the Venture is off 6 points at 783 as of 7:00 am Pacific…drill result of the day goes to K92 Mining (KNT, TSX-V) which cut 0.72 m of 3,586 g/t Au within a broader mineralized interval of 5.82 m @ 486.78 g/t Au, 21 g/t Ag and 0.15% Cu from grade control drilling at its Kora North extension (Kainantu Gold Project) in Papua New Guinea…

6. Tinka Resources (TK, TSX-V) has intersected 19.3 m grading 9.2% Zinc and 19 g/t Ag from 300 m in a step-out hole drilled 110 m northwest of the West Ayawilca Zinc resource in Peru…follow-up drilling is underway…the new mineralization in A18–114 at West Ayawilca is located on the eastern limb of an ‘anticline’ fold axis which company geologists believe acted as a trap for the Zinc mineralization…2 rigs are currently operating at West Ayawilca and Zone 3, with a 3rd rig now mobilizing and expected to commence drilling by the end of the month…Dr. Graham Carman, Tinka’s President and CEO, commented, “We are very pleased to have intersected significant high-grade Zinc mineralization in our first step-out hole at West Ayawilca in 2018.  It is still early in this year’s drill program, but we are confident that our planned 15,000-m drill program will continue to expand on our known mineralized zones, discover new areas of Zinc mineralization, and add significant new mineral resources to the project. Approximately 25–30 holes are planned for the first half of 2018 consisting mostly of step-out holes, with an initial Preliminary Economic Assessment planned to be completed before year’s end.”

7. Fundamentals are in place for precious metals, especially Silver, to significantly break out of current trading ranges, according to a report from Bloomberg Intelligence…the report said that silver has a history of lagging its industrial metals companions and can rally as much as 50% by simply “catching up”…the report noted, “It’s been about 50 years since Silver’s 12-month range was this narrow, increasing the likelihood of a sharp rally. Essentially unchanged from June 2016, Silver has plenty of room to catch up to the 50% rally in the Bloomberg Industrial Metals Spot Index and 3% decline in the trade-weighted broad dollar.” Mike McGlone, senior analyst at Bloomberg Intelligence, said that fundamental macro forces, especially a weakening dollar, remain the key catalysts for a potential breakout of range-bound commodities like precious and industrial metals. “The weakening dollar, strong global purchasing-managers indexes and bottoming inflation are leading macroeconomic-foundation builders,” he said in the report…

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