Global equity markets rebounded last week, and were up 3.1% on average (down 1.1% in the prior week), amid expectations of softer inflation in the U.S. The inflation report for August is expected tomorrow. The consensus estimate for August inflation is 8%, down from 8.5% in July, and 9.1% in June. We believe the rally should continue if tomorrow’s report shows 8% or less.

Valuations of gold producers were up 3% last week (down 4% in the prior week); base metal producers were up 6% (down 8% in the prior week).

The global MCAP of cryptos is US$1.06T, down 9% MoM, and 50% YoY.

Currently, there are 3,366 retail cannabis stores in Canada, a decrease of six stores WoW, including seven closures in Ontario, and one opening in Quebec. As mentioned in our previous reports, we do not believe the sector is slowing, rather, we believe there is a shift in store locations, as certain areas within major cities are oversaturated.

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Companies Mentioned:

Kootenay Silver Inc., FPX Nickel Corp., GR Silver Mining Ltd., SPC Nickel Corp., Blue Sky Uranium Corp., Monarch Mining Corporation, Equity Metals Corporation, Hot Chili Limited, Rio2 Limited, Golden Minerals Company, Tudor Gold Corp., Transition Metals Corp., Endexx Corporation, Clean Seed Capital Group Ltd., Chalice Brands Ltd., CanaQuest Medical Corp.,