PRE-OPEN
Canadian markets are lower as investors were spooked by a rout in global bonds markets after a stalemate in U.S.-Iran talks dented risk sentiment.
Canada
Enjoy the Victoria DayLong Weekend. Canadian Markets Will Be Closed Monday 18th May.
Focus turns to March manufacturing sales data from Statistics Canada, where sales are expected to rise 3.5%, marking a slight slowdown from February’s 3.6% increase. Separately, the Canadian Mortgage and Housing Corporation is likely to report that housing starts rose to an annualized pace of 240,000 units in April.
Canadian home sales posted a modest increase in April from March after a slow start to the month, and prices edged lower, data from the Canadian Real Estate Association showed. Home sales increased 0.7% month-over-month in April.
Canada unveiled a C$1 trillion strategy to double the capacity of its electricity grid by 2050, citing rapidly increasing power demand and the need for energy security.
Alberta separatists have been dealt their first major setback in their campaign for a referendum on seceding from Canada, after a provincial court ruled this week in favor of a First Nations bid to halt the referendum petition.
The proponents behind LNG Canada will make a final investment decision on whether to go ahead with a proposed second phase expansion of the project by the end of this year, Canada's Natural Resources Minister said Thursday.
Northstar Gold Corp. (CSE: NSG) provide an exploration and development update for the Company's 100%-owned Miller Copper-Gold Property, situated approximately 18 kilometres southeast of Kirkland Lake, Ontario.
While Northstar continues advancing the high-grade Cam Copper volcanogenic massive sulphide ("VMS") project and associated Surgical Mining™ initiatives with Novamera Inc., the Company is also positioning to renew expansion drilling at the nearby Allied Gold Zone later this year.
Northstar's planned Allied Gold Zone advancement comes amid significantly higher gold prices and increasing exploration activity in the southern Kirkland Lake camp, including ongoing drilling by Kirkland Lake Discoveries Corp. on the KL South Property, immediately adjacent to Northstar's Miller Copper-Gold Property.
Northstar believes renewed district-wide exploration success and attention, combined with gold prices that have more than doubled since the Company's 2022 SRK Exploration Target Study, materially enhances the significance and strategic value of the Allied Gold Zone and broader Miller Intrusive Complex gold system.
Management Commentary
"Northstar remains fully committed to advancing the Cam Copper surgical mining opportunity, which we believe represents a unique near-term critical minerals development opportunity," states Brian P. Fowler, P.Geo., President and CEO of Northstar. "At the same time, the Company believes the market has largely overlooked the significance of the Allied Gold Zone in today's gold price environment."
"Much of the Allied Gold Zone exploration and modeling work was completed when gold traded near US$2,000 per ounce. With gold prices now at historically elevated levels and renewed exploration success occurring immediately adjacent to the Miller Property, Northstar believes this is an important opportunity to advance and potentially unlock additional value from the Allied Gold Zone through renewed drilling."
"Few junior exploration companies in the Kirkland Lake district currently possess both a potentially near-term critical minerals development opportunity and a large-scale intrusive-hosted gold exploration system within the same wholly owned property.”
NorthWest Copper (TSXV: NWST) announce the closing of the previously announced "best efforts" brokered private placement for gross proceeds of approximately $13.8 million, including the exercise of the Agents option (the "Offering"). Stifel Canada acted as sole bookrunner and co-lead agent with Canaccord Genuity Corp. (together with Stifel Canada, the "Agents").
CEO Paul Olmsted stated, "the completion of this financing marks an important milestone for NorthWest Copper as we continue to execute on our growth strategy. This successful financing strengthens the Company's financial position and supports continued advancement of our flagship Kwanika-Stardust project toward its next stage of development. Investor demand for the financing was strong, highlighted by the full exercise of the Agents' option, reflecting continued support for the Company's strategy and confidence in the potential of its copper-gold project portfolio. With this strengthened financial position, the Company is well-funded to deliver an updated Preliminary Economic Assessment ("PEA") for the Kwanika-Stardust project, targeted for mid 2026, as well as execute on a 2026 exploration drilling program focused on upgrading and expanding the mineral resource base. Planning for a targeted 12,000-metre drill program has now been completed, with drilling expected to commence by mid-June. We look forward to providing shareholders with continued updates as we advance the PEA and execute on our planned exploration activities at Kwanika-Stardust and Lorraine.”
Each HD Unit, CFT Unit and FT Unit consisted of one common share ("Common Share") of the Company and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each of the Common Shares and Warrants underlying the CFT Units and FT Units will qualify as a "flow-through share" as defined in subsection 66(15) of the Income Tax Act (Canada). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.45 for a period of 24 months following closing of the Offering.
The net proceeds from the Offering will be used to complete an updated Preliminary Economic Assessment on the Company's Kwanika-Stardust project, to advance exploration at Kwanika, to conduct surface work at the Company's Lorraine project, to advance other exploration projects held by the Company, particularly East Niv, and for working capital and general corporate purposes.
Certain insiders, directors and officers of the Company, participated for an aggregate of 461,000 HD Units under the Offering. The participation of officers and directors in the Offering constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the insider participation in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the related party participation did not exceed 25% of the Company's market capitalization.
Alaska Energy Metals Corporation (TSX-V:AEMC)(OTCQB:AKEMF) provide the following corporate update outlining recent activities for the Nikolai Nickel Project, Alaska.
FAST-41 Permitting. In November 2025 AEMC's Nikolai Nickel project was accepted for coverage under the FAST-41 Transparency Dashboard ("Dashboard") by the Federal Permitting Improvement Steering Council ("Permitting Council" or "Council"). An Environmental Assessment ("EA") is to be completed by the agencies with US Army Corp of Engineers ("USACE" or "Corps") as the lead coordinating agency. The Transparency Dashboard listing is intended to focus initially on infrastructure improvements supporting Nikolai, beginning with the rehabilitation and extension of the existing Rainy Creek Mining Trail, including installation of two temporary bridges, and an on-site camp.
Banyan Gold Corp. (TSXV: BYN)(OTCQB:BYAGF) release the final drill results and provide a comprehensive summary of the 2025 AurMac delineation drill program. The 42,000 metres ("m") program included 178 drillholes at the AurMac Project, with the primary goal of the 2025 drill program to maximize economic potential for the upcoming Preliminary Economic Assessment ("PEA"; expected second half of 2026) by targeting high-grade domain and mineralized envelope extensions, and waste block conversion. Drilling took place from March 27, 2026, to November 10, 2026. Drill results throughout AurMac consistently intersected high-grade gold ("Au") mineralization, including well mineralized sheeted quartz vein domains hosting Bismuth-sulphosalts and visible gold throughout the core of the Powerline Deposit ("Powerline"). Very high-grade gold mineralization associated with sulphide replacement and skarn-style mineralization in the Airstrip Deposit ("Airstrip") were intersected in a core high-grade contact zone between calcareous metasedimentary rocks and a felsic aplite dyke. These findings follow up on drilling conducted in 2024 (see news release dated February 19, 2025).
"We are looking forward to incorporating the 2025 drill results into our upcoming Mineral Resource Update and PEA, marking our first opportunity to speak about the economics of the AurMac Project," stated Tara Christie, President and Chief Executive Officer. "The PEA will focus on the gold potential, while ongoing drilling of the exciting silver intersections and metallurgical work throughout 2026 will further define the silver economics, potentially contributing to a future economic study.”
Dryden Gold Corp. (TSXV: DRY) (OTCQX: DRYGF) (FSE: X7W) announce that it has closed (the "Closing") its previously announced (April 27, 2026) non-brokered equity financing (the "Upsized Financing") to include an aggregate of 22,716,146 common shares for aggregate proceeds of $9,595,045.60. The Upsized Financing is comprised of flow-through common shares (the "FT Shares") and charity flow-through common shares (the "CFT Shares"). 16,031,449 FT Shares were issued at $0.41 per FT Share for aggregate proceeds of $6,572,894.09, and 6,684,697 CFT Shares were issued at a price of $0.452 per CFT Share for aggregate proceeds of $3,022,151.51. The FT Shares and the CFT Shares will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") and "Ontario focused flow-through shares" as defined in the Taxation Act, 2007 (Ontario) ("Ontario Tax Act"). A finders' fee of 6% cash, for a total of $291,028.46 under the Upsized Financing was paid to eligible arm's length persons with respect to certain subscriptions accepted by the Company. Interward Asset Management Ltd. acted as financial advisor to the Company regarding the Upsized Financing.
FireFox Gold Corp. (TSXV: FFOX)(OTCQB:FFOXF) announces that it intends to complete a non-brokered private placement of up to 8,500,000 units (each a "Unit") at a price of $0.60 per Unit (the "Offering Price") for aggregate gross proceeds of up to $5,100,000 (the "Offering").
Each Unit is comprised of one common share (each, a "Share") and one half of one common share purchase warrant (each full warrant, a "Warrant"). Each Warrant will be exercisable for one common share (each, a "Warrant Share") at an exercise price of $0.90 (the "Exercise Price") and will expire three years from the closing date of the Offering.
The Company expects to close the Offering on or about June 3, 2026, or such other date as the Company may determine (the "Closing Date").
The net proceeds of the Offering are expected to fund a significant drill program at the Mustajärvi Project, as well as a return to drilling at the Sarvi Project along with other exploration work, working capital and general corporate purposes. View the original press release on ACCESS Newswire
Flagship Communities Real Estate Investment Trust (TSX:MHC.U) (TSX:MHC.UN) announced a cash distribution of US$0.0545 per REIT unit for the month of May 2026, representing US$0.654 per REIT unit on an annualized basis. Payments will be made on or about June 15, 2026, to unitholders of record as of the close of business on May 29, 2026.
Distributions paid to Canadian unitholders (and other non-U.S. unitholders) generally will be subject to U.S. withholding tax. Unitholders should consult their own tax advisors for advice with respect to the tax consequences of receiving a distribution from the REIT in their own circumstance.
Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) announce it has encountered two additional coal seams while advancing the underground ramp at its fully permitted flagship La Estrella coal project in Colombia, and application to the Critical Mineral Institute (CMI).
Forge is encouraged by this development and the ongoing advancement of its underground ramp. Underground development at La Estrella continues to progress steadily, with advancement of the main underground ramp reinforcing the continuity of the coal-bearing system. These two coal seams are consistent with prior observations, further strengthening confidence in the coal deposit and supporting the geological model across the project area.
PJ Murphy, CEO states:"Finding the two additional coal seams highlights the near-term potential of our deposit and underscores the efficiency of our underground ramp development. Underground development activities continue to advance steadily, supported by a fully deployed operational team in the main underground ramp. Forge continues to make excellent progress on advancing the ramp towards the eight underground coal seams. We look forward to further progress.”
GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) announce that it has closed a further tranche of its non-brokered flow-through financing (the "Flow-Through Offering") through the issuance of 4,589,510 flow-through common shares (the "FT Shares") at a price of $0.265 per FT Share for aggregate gross proceeds of $1,216,220.
CEO COMMENTARY
"We are very pleased to complete this financing, which further strengthens GoldHaven's treasury as we continue advancing the Magno Project," stated Rob Birmingham, President and CEO of GoldHaven.
"Magno continues to demonstrate significant potential as a district-scale polymetallic and critical minerals system, with strong silver-lead-zinc mineralization alongside emerging tungsten and indium upside. This financing positions the Company well as we continue exploration planning and target advancement across the project.”
Gold Terra Resource Corp. (TSXV: YGT)(Frankfurt:TX0)(OTCQB:YGTFF) announce the results of an updated, independent, Mineral Resource Estimate ("the 2026 MRE") prepared by SLR Consulting (Canada) Ltd ("SLR") on the Yellorex ("YRX"), Zone 103N, and Crestaurum deposits, part of its Yellowknife Project ("YP"), located near Yellowknife, NWT. A Technical Report, prepared in accordance with NI 43 101 Standards of Disclosure for Mineral Projects, will be filed on SEDAR within 45 days of this notice.
The YP assets include the Yellorex ("YRX") and Zone 103N deposits of the Con Mine Option ("CMO"), considered as northern and southern extensions from the historical Con Mine, and the Crestaurum, Sam Otto, Walsh Lake Pickel zone (formerly Mispickel), and Barney deposits situated in the Northbelt - Walsh Lake area of the YP (formerly the Yellowknife City Gold Project), located 20 kilometres north of the town of Yellowknife and further in this press release. The 2026 MRE is considered an initial phase of MRE updates for the YP. The YP is 100% owned by Gold Terra but for the CMO, which is subject to an option agreement with Newmont.
Under the purchase agreement, the Company has the right to acquire 100% of the CMO property from a subsidiary of Newmont Corporation ("Newmont"), subject to the fulfillment of certain conditions set out in the agreement, as reported in the Company's news release dated November 22, 2021. Gold Terra's option on the CMO with Newmont is until November 21, 2027. View the original press release on ACCESS Newswire
MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) announce that it has signed a Memorandum of Understanding ("MOU") with the City of Moose Jaw to jointly advance strategic opportunities related to Natural Hydrogen commercialization within the Regina-Moose Jaw Industrial Corridor. The partnership aligns regional infrastructure, industry, policy, and economic development initiatives as MAX Power rapidly advances the Lawson Natural Hydrogen system near Central Butte, approximately 80 km northwest of Moose Jaw, toward commercial validation. MAX Power looks forward to providing a further operational update on Lawson during the week of May 18, 2026.
The MAX Power-City of Moose Jaw MOU was signed by both parties yesterday afternoon in a special ceremony at City Hall in Moose Jaw.
NurExone Biologic Inc. (TSXV: NRX) (OTCQB: NRXBF) (FSE: J90) a biopharmaceutical company developing exosome-based regenerative therapies for central nervous system injuries, is pleased to announce that it has been selected to advance to Stage 2 of the EIT Health Catapult Programme 2026, a European Union-backed programme for high-potential companies addressing major healthcare priorities.
The Catapult Programme supports health innovation companies through expert training, investor exposure, and competitive pitch opportunities. NurExone was selected based on positive feedback from the programme's reviewers regarding its strong and differentiated regenerative medicine platform, compelling preclinical data and meaningful regulatory progress.
"Advancing to Stage 2 of the EIT Health Catapult Programme is an important recognition of the potential of our regenerative exosome-based platform," said Dr. Lior Shaltiel, CEO of NurExone. "The programme's focus on addressing major healthcare challenges strongly aligns with our mission to develop regenerative therapies for spinal cord and optic nerve damage, areas where patients currently have very limited restorative treatment options."
REV Exploration Corp. (TSXV: REVX) provide the following Corporate Update as the Company continues to prepare for upcoming drill programs at its Helium and Natural Hydrogen properties in Montana and southern Alberta.
REV Exploration continues to hold six million shares of MAX Power Mining Corp. (CSE: MAXX), valued at approximately $15.6 million based on yesterday's closing price of $2.61 on the Canadian Securities Exchange.
REV is in the final stages of organizing a near-term 3D Seismic Survey covering its recently acquired West Butte Project in Montana as the final step prior to launching an initial drill program at this promising Helium target.
The Aden Dome along the Alberta-Montana border is also slated for initial drilling during Q3 and is considered highly prospective for deposits of both Helium and Natural Hydrogen.
Sorrento Resources Ltd. (CSE: SRS) (OTCQB: SRSLF), a Canadian exploration company focused on the acquisition, exploration, and development of mineral projects in Atlantic Canada, is pleased to announce that drillhole SRS26-006 intersected a 33m thick interval with 2.12% TREO (Total Rare Earth Oxides)* at the Company's Bottom Brook Project in Newfoundland and Labrador.
Mineralization occurs in areas of low to moderate radioactivity within massive to semi-massive magnetite. The mineralization is hosted by a variety of lithologies including amphibolite, alkali-granite, and quartz-feldspathic igneous rocks. Higher grade intercepts are defined as containing >1% TREO.
More assays are expected in the coming weeks. Once assays are received the company will begin metallurgical test work.
*Based on industry standards, TREO% includes Y2O3 contents. **NdPr refers to a mixed rare-earth oxide or metal product composed predominantly of neodymium (Nd) and praseodymium (Pr), two light rare-earth elements commonly co-produced during rare-earth separation and widely used in high-strength permanent magnets.
ECONOMIC DATA 0815 Housing Starts Annualized for April: Expected 240,000; Prior 235,900 0830 Manufacturing Sales MM for March: Expected 3.5%; Prior 3.6% 0830 Securities Canadian for March: Prior C$25.36 bln 0830 Securities Foreign for March: Prior C$6.17 bln
World Markets
Euro STOXX 50 futures were down 66 points at 5,858, FTSE futures lost 61.5 points to 10,315, German DAX futures dropped 311 points to 24,193, by 0430 GMT.
Asian shares came under pressure as investor euphoria over tech stocks gave way to inflation fears that saw Treasury yields spike to one-year highs and rising bets on a U.S. rate hike this year.
Oil prices rose after President Donald Trump said China wants to buy oil from the United States and as concerns persisted over ship attacks and seizures despite Iran saying about 30 vessels had passed through the Strait of Hormuz.
U.S. stocks closed higher, lifted by a rally in tech stocks as investors absorbed generally solid economic data and watched for developments from Beijing, where Trump was engaged in a high-stakes meeting with his Chinese counterpart Xi Jinping.
The dollar firmed and was set for its largest weekly gain in more than two months, as rising energy prices and prolonged disruptions to shipping stoked inflationary pressures, boosting bets on a Federal Reserve rate hike this year.
Benchmark 10-year Treasury yields pulled back from an 11-month high on Thursday, as U.S. government debt found support from falling oil prices and buying interest at key technical levels.
Gold fell to a more than one-week low and was set for a weekly decline as higher energy prices fuelled inflation fears and prolonged higher interest rates, while investors focused on the meeting between U.S. President Donald Trump and Chinese President Xi Jinping.
S&P 500 Index Mini Futures: 7,499.75; down 0.34%; 25.75 points DJIA Mini Futures: 50,038; down 0.23%; 116 points Nikkei: 61,681.02; down 1.55%; 973.03 points MSCI Asia, Ex-JP: 867.71; down 1.74%; 15.4 points EUR/USD: $1.1650; down 0.17%; 0.0020 point GBP/USD: $1.3367; down 0.26%; 0.0035 point USD/JPY: 158.52 yen; up 0.09%; 0.15 point Spot Gold: $4,605.13; down 0.95%; $44.34 U.S. Crude: $102.42; up 1.24%; $1.25 Brent Crude: $106.97; up 1.18%; $1.25 10-Yr U.S. Treasury Yield: 4.5299%; up 0.071 point 10-Yr Bund Yield: 3.0650%; up 0.017 point
US
U.S. Futures are lower, with an AI-driven rally in U.S. stocks poised to stall, as Treasury yields jumped on concerns about higher inflation driven by the Middle East conflict.
Alphabet Inc: The Google parent has sold 576.5 billion yen ($3.6 billion) in yen-denominated bonds, a term sheet showed, the largest-ever issue by a foreign company. Demand was strong among domestic and international investors, Mizuho Securities, one of the underwriters, said, adding that the sale beat the previous record of a 430 billion yen issuance by Warren Buffett's Berkshire Hathaway in 2019. The term sheet showed Alphabet would issue bonds maturing in 3, 5, 7, 10, 15, 30 and 40 years, with coupons ranging from 1.965% to 4.599%. Mizuho Securities, Bank of America and Morgan Stanley are acting as joint bookrunners on the transaction.
Applied Materials Inc: The company on Thursday forecast third-quarter revenue and adjusted profit above Wall Street estimates, betting that heavy spending on data centers and AI infrastructure will sustain strong demand for its chip-making tools. "With rising demand and increasing long-term visibility from customers, we see an exceptionally strong foundation for sustained multi-year revenue and profit growth," CEO Gary Dickerson said on a post-earnings call. The company expects over 30% growth in its semiconductor equipment business and a more than 50% increase in packaging revenues for 2026.
General Electric Co: CEO Larry Culp was seen in Beijing leaving a meeting at the headquarters of China's powerful state planner, the National Development and Reform Commission, according to a Reuters witness. Culp's visit to the NDRC building comes after U.S. President Donald Trump told Fox News that following talks in Beijing with his Chinese counterpart Xi Jinping on Thursday China had agreed to order 200 Boeing jets, its first purchase of U.S.-made commercial jets in nearly a decade. As Boeing's primary engine supplier, GE Aerospace also stands to gain from the purchase agreement, even if it fell far short of the roughly 500 jets the markets had expected, causing both companies' shares to fall.
Europe / Asia
Trump said his patience with Iran was running out after he discussed the costly and unpopular war with Chinese President Xi Jinping and a ship was reported seized by Iranian personnel off the United Arab Emirates.
British Prime Minister Keir Starmer was struggling to hold on to power after his main rival in the government resigned on Thursday, accusing him of political drift, and others positioned themselves for potential challenges to his leadership.
Alphabet has sold 576.5 billion yen in yen-denominated bonds, a term sheet showed, the largest-ever issue by a foreign company.
Top labour representatives at Volkswagen said they would not allow plants to be closed, while remaining open to proposals to secure the future of under-used production sites in Germany, according to a joint statement to Reuters.
French luxury group LVMH has agreed to sell fashion brand Marc Jacobs to a joint venture between brand manager WHP Global and apparel company G-III Apparel Group, which are raising up to $850 million to fund the deal, the companies said.
Ryanair does not expect disruption to jet fuel supplies in Europe this summer but its profit may come under "a bit of pressure" in the current fiscal year to end-March 2027 if oil prices remain high for longer, CEO Michael O'Leary said.
