• Our last week’s pick, Pieris Pharmaceuticals (NASDAQ: PIRS) went from $3.76 on last Tuesday’s closing, to $5.09 the next day (up 35%).
  • Base metal prices reported strong gains last week, primarily due to a significant reduction in inventory levels on the SHFE (Shanghai). China’s manufacturing activities had picked up in April after declining for four consecutive months. Last week’s inventory draw-down suggests that China’s manufacturing activities remain strong.
  • Except Argentina and Colombia, all of the top 15 hardest hit nations reported flat or WoW declines in new COVID-19 cases three weeks in a row.
  • We are raising our forecast for gold, while maintaining all other price forecasts.With rising inflation expectations, and the U.S. Fed showing no signs of raising rates this year, we expect gold and silver to be stronger in H2-2021 vs the first half.
  • Following the acquisitions announced earlier this year, of Zenabis Global Inc. (TSX: ZENA) for $235M, and 48North for $50M, HEXO Corp (TSX: HEXO) announced plans (last week) to acquire Redecan (Canada’s largest privately-owned licensed producer, operational since 2014) for $925M ($400M in cash and $525M in common shares). If approved by shareholders, this deal will make HEXO the largest company by market share in Canada, overtaking Tilray-Aphria (TSX: TLRY).

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Companies Mentioned:

Latin Metals Inc. ,Builders Capital Inc., Kontrol Energy Corp., Cornerstone Capital Resources Inc., GMV Minerals Inc., Southern Silver Exploration Corp., Tudor Gold Corp., GR Silver Mining Ltd.Banxa Holdings Inc., NEXE Innovations Inc., Pure Extracts Technologies Corp., Bank of Montreal, Royal Bank of Canada, Bank of Nova Scotia, Canadian Imperial Bank of Commerce (CIBC)