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Gold, silver slide as stronger U.S. data, firmer yields pressure metals|'Write-downs to zero': DiMartino Booth warns of approaching industrial recession amid historic Fed split|Australia, Japan strengthen critical minerals ties|Consultancy unpacks why gold prices are trending lower despite high demand|Divided Fed won’t deliver gold-boosting rate cut in 2026, EU EV sales support silver demand as ETFs slide – Heraeus|Power Metallic intercepts 17.45 Meters of 9.47% CuEqRec1 in Hole 26-094 and 39 Meters of 5.66% CuEqRec1 in Hole 26-101 at Lion|Canadian diamond miner Arctic files for insolvency protection|CEO of Australia’s PLS says government support could boost lithium supply chains|Canadian dollar rises to 12-day high as BoC minutes support move to the sidelines|Dollar gains as US government looks to reopen, yen at nine month low|Gold, silver slide as stronger U.S. data, firmer yields pressure metals|'Write-downs to zero': DiMartino Booth warns of approaching industrial recession amid historic Fed split|Australia, Japan strengthen critical minerals ties|Consultancy unpacks why gold prices are trending lower despite high demand|Divided Fed won’t deliver gold-boosting rate cut in 2026, EU EV sales support silver demand as ETFs slide – Heraeus|Power Metallic intercepts 17.45 Meters of 9.47% CuEqRec1 in Hole 26-094 and 39 Meters of 5.66% CuEqRec1 in Hole 26-101 at Lion|Canadian diamond miner Arctic files for insolvency protection|CEO of Australia’s PLS says government support could boost lithium supply chains|Canadian dollar rises to 12-day high as BoC minutes support move to the sidelines|Dollar gains as US government looks to reopen, yen at nine month low|
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04 May 20265 Mins read

PRE-OPEN Canadian Markets are lower, mirroring Wall Street, after Iran's Fars News agency reported that two missiles hit a U.S. warship when it tried to pass through the Strait of Hormuz. European shares ticked lower as domestic automakers came under pressure following threats of a U.S. tariff hike.

Canada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Canada's manufacturing sector expanded in April at the fastest pace in nearly four years as the war in the Middle East spurred stock building and added to inflation pressures, data showed.


 

Exports of liquefied natural gas from Canada’s LNG Canada plant topped 1 million metric tons in April, setting a monthly record, according to LSEG data.


 

First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) announces the appointment of Mr. Dan Martino, CPA, CA, as the Company’s Chief Financial Officer (“CFO”) and Corporate Secretary.

“We are very pleased to welcome Dan to First Tellurium’s management team, effective immediately,” said First Tellurium President and CEO Tyrone Docherty. “His experience in both the clean technology and mineral sectors will serve us well, especially as we work to monetize our subsidiary PyroDelta’s innovative,  tellurium-based thermoelectric technology.”

Concurrent with Mr. Martino’s appointment, Mr. Docherty has stepped down as the Interim CFO & Interim Corporate Secretary.

Mr. Martino is a Chartered Professional Accountant (CPA, CA) with over 15 years of experience, currently providing CFO and Financial Reporting Consulting services through DBM CPA Inc. to companies listed on Canadian stock exchanges within the clean technology and mineral resource sectors. Mr. Martino previously worked in assurance services for public companies at Davidson & Company LLP.

First Tellurium also reports that it has engaged Atlas Digital AI Ltd. (“Atlas Digital”) of Hong Kong to provide marketing, communication and distribution services for an initial 6-month period commencing April 17, 2026.  Atlas Digital is a business that provides digital media and brand awareness, social media management, content creation and distribution services.  It is an arm's-length party to the Company. Atlas Digital will provide digital marketing services, including targeting content distribution across various social media platforms and channels, as well as content creation including ad copy & content writing as well as video & ad creation, to increase corporate awareness.  The Company will pay Atlas Digital a cash fee of US$50,000 total for the six-month period.  Atlas Digital does not currently own any shares of the Company. FTEL and its projects can be found at www.firsttellurium.com.


 

Legacy Gold Mines Ltd. (TSXV: LEGY) announce that Phase 1 of its 2026 drill program, consisting of diamond drilling on the Baner Gold Mine Property in Idaho County, Idaho, USA (the "Baner Property"), is targeting start-up the week of May 11, 2026. This 2026 drill program targeting 40,000 feet (12,194 metres) of drilling, will commence with approximately 12,000 feet (3,658 metres) of diamond drilling and will be followed with approximately 28,000 feet (8,536 metres) of reverse circulation drilling ("RC"). The 2026 drill program is designed to follow up on the previously announced, successful 2025 drill results targeting the Main Zone and NE Zone at the Baner Property, as well as new exploration targets indicated by large gold-in-soil anomalies coincident with geophysical conductors similar magnetic highs similar to those associated with the Main Zone.

"The Legacy Gold team has been working diligently with its contractors to mobilize two diamond drills for a dynamic Phase 1 startup, taking full advantage of seasonal light," said Brian Hinchcliffe, Chairman and CEO of Legacy Gold. "We hope to build on the momentum from the $10 million financing completed in April and move right into our 2026 drill campaign of infill, step-out and exploration drilling aimed at delineating a maiden mineral resource on the Baner Property in late Q4 2026 or early Q1 2027."

An RC Drill Contractor has been engaged for the Phase 2 of the 2026 drill program which is expected to commence during the summer of 2026, after the Phase 1 diamond drill program has been completed. The RC drill plan includes holes from previously permitted drill pads, some of which were used during the 2025 drill campaign, and certain new drill pads for which permits are expected during the first week of May 2026.

The Company intends to conduct additional work and technical studies to evaluate whether sufficient data may be obtained to compliment a future mineral resource estimate that the Company hopes to undertake. This may include metallurgical testwork, deportment studies and airborne geophysics (for follow-up exploration).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295161


 

The Canadian Chrome Company Inc.(CSE: CACR) (CSE: CACR.A), announce the extension for an additional 45 days of its previously announced private placement of up to 10,714,285 units (each a "Unit") at a price of $1.40 per Unit for aggregate gross proceeds of up to $15,000,000 (the "Offering") (see news release dated March 18, 2026). The terms of the Offering are that each Unit will be comprised of one (1) multiple voting share of the Company (a "Multiple Voting Share") and one (1) Multiple Voting Share purchase warrant (a "Warrant"), with each Warrant enabling its holder to purchase one further Multiple Voting Share from treasury upon payment of an exercise price of $1.50 at any time prior to the earlier of (i) five (5) years from the date of the first closing of the Offering or (ii) two business days after a change of control of the Company.

The Company will pay finder's fees of up to 5% of the aggregate amount subscribed for by subscribers referred to the Company by finders entitled to receive such fees in accordance with applicable securities laws, which fees will be payable in Units at deemed price of $1.40 per Unit.

All of the securities to be issued pursuant to the Offering will be subject to a four (4) month hold period.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295556


 

First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR: FPHOY) (FSE: KD0) announce the receipt of $3,070,549 in gross proceeds upon the exercise of 2,456,439 warrants prior to their expiry on April 24, 2026 and April 30, 2026, at an exercise price of $1.25 per share.

The Company now has 179,947,950 common shares, 2,625,000 warrants, 7,650,000 options and 1,975,000 restricted share units outstanding. All warrants, options and restricted share units outstanding are held by current Company staff, management and board members.

The Company remains debt-free and is on an accelerated development timeline thanks to a recent non-repayable, non-dilutive contribution of $16.7 million received from the Federal Government of Canada.

Since June 2022, the Company has raised approximately $62.5 million in 10 management-led non-brokered private-placement financings and from funds received from option and warrant exercise. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295686


 

ICG Silver & Gold Ltd. (CSE: ICG) (FSE: JI0) announce the successful completion of a comprehensive database compilation and district-scale geological modeling initiative at the Tuscarora District ("Tuscarora", the "District", or the "Project”).

This milestone consolidates decades of fragmented historical and modern exploration data into a single, fully integrated platform, providing the Company with a cohesive understanding of the Project at a larger scale. The model highlights a structurally controlled mineral system with multiple target corridors and significant upside potential beyond historically explored areas.

Steven Sirbovan, President, CEO and Director, commented: "I am extremely pleased with the progress of our geological modeling. Elevating and organizing historical data across the Tuscarora District is an important value creation milestone as we continue to engage with investors, stakeholders, and potential partners."

Korbon McCall, VP Exploration, added: "Our focus has been on understanding the structural framework and the controls on mineralization across the District, not just individual occurrences. With this first phase of work complete, we now have the ability to systematically prioritize and refine targets as new data is incorporated. This is exactly the type of foundation required to support efficient and effective exploration as we work towards establishing a first mineral resource estimate on the Project.” To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295447


 

MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) announce the appointment, effectively immediately, of Mr. Tony Van Burgsteden as Chief Financial Officer, strengthening the Company's leadership team as it advances toward commercial evaluation of its Saskatchewan Natural Hydrogen platform. Mr. Van Burgsteden, who recently joined the MAX Power Board of Directors, is the former CFO of Saskatchewan-based Orano Canada, a major uranium mining and exploration company headquartered in Saskatoon. He is also the former VP of Finance at Federated Co-operatives Ltd., a large Western Canadian wholesaling, manufacturing, marketing and administrative cooperative owned by over 160 independent local retail cooperative associations.

Mr. Van Burgsteden takes over from Mr. Ryan Cheung who has served as MAX Power's Chief Financial Officer since June 2025.


 

Nuclear Vision Limited (CSE: NUKV) announce that it has completed its name change to Union Power Metals Corporation ("Union Power Metals" or the "Company"), effective today. The new CUSIP for the Company's common shares will be 908086101 and the new ISIN number will be CA9080861011. The Company's common shares are expected to begin trading under the Company's new name and ticker symbol, UPPR, at the opening of trading on May 6, 2026.

The rebranding marks a strategic transition toward the development of a European-focused manganese platform, positioning Union Power Metals to participate in the accelerating global demand for critical minerals essential to electrification, battery technologies, and energy storage systems.

In connection with the name change, the Company has launched its new corporate website, https://unionpowermetals.com, featuring updated information on its projects, strategy, and investor materials under the Union Power Metals brand.


 

Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) provide additional assays from its winter 2026 drill program.

Lion Zone MRE Infill Program

Drilling continued to define the high-grade Lion Zone in preparation for a 2026 Mineral Resource Estimate (MRE). The infill drill holes in this release are for holes that cover approximately 200 m of strike length from the middle core of the Lion Zone (PML-26-094) to the western edge (PML-26-104), defining mineralization at a vertical depth of approximately 100 m below surface (Figure 1). These holes will be important for future mineral resource estimates to an Indicated Resource classification, potentially for open pit exploitation.

The 2026 winter drill campaign continues to support the modelled interpretation of the Lion Zone based on earlier wider spaced drilling and includes PML-26-094 which intersected the interpreted core of the Lion Zone and adds further support to wide intersections of high-grade copper near surface with 17.45 m @ 9.47% CuEqRec(1) including 6.30 m @ 17.91% CuEqRec(1) (Table 1).

Hole PML-26-101 tested the zone approximately 100 m east of PML-26-094 at a slightly deeper vertical depth and contained high grade over a very wide intersection with 39.00 m @ 5.66% CuEqRec(1) including 9.20 m @ 15.18% CuEqRec(1) . A further 100 m west hole PML-26-104 tested the western edge of the Lion Zone and intersected 7.40 m @ 1.07% CuEqRec(1) and confirmed the expected mineralization modeled from the wider spaced earlier drilling in this area.

View original content to download multimedia:https://www.prnewswire.com/news-releases/power-metallic-intercepts-17-45-meters-of-9-47-cueqrec-in-hole-26-094-and-39-meters-of-5-66-cueqrec-in-hole-26-101-at-lion-302760848.html


 

Québec Innovative Materials Corp. (CSE: QIMC) (OTCQB: QIMCF) (FSE: 7FJ) announce a strategic applied research partnership with Lambton College to design, build, and validate a hydrogen-powered modular energy system — the H2-RE DCPS (Hydrogen-Renewable Energy Data Center Power System) — targeting off-grid and grid-constrained AI data center applications.

This initiative represents a significant step in QIMC's vertically integrated "Geology-to-AI" strategy, advancing beyond hydrogen exploration toward energy delivery and infrastructure development, and establishing a direct pathway from natural hydrogen production to end-use power systems.

"This is where QIMC's strategy moves into execution," said John Karagiannidis, CEO of QIMC.

"We are advancing beyond hydrogen discovery and into energy delivery — developing systems designed to convert natural hydrogen into usable power for next-generation AI infrastructure. With the H2-RE DCPS platform, we are building a direct bridge between subsurface hydrogen resources and real-world energy demand, positioning QIMC at the intersection of clean energy and digital infrastructure.”

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295713


 

Spanish Mountain Gold Ltd. (TSXV: SPA) (FSE: S3Y) (OTCQB: SPAUF) announce that it has closed the first tranche of its previously announced royalty sale (the "Royalty Financing") to Wheaton Precious Metals Corp. ("Wheaton"). As part of the first tranche closing, the Company received US $22.5 million from Wheaton. A further US$32.5 million is available to the Company under the terms of the Royalty Financing following the satisfaction of certain conditions precedent.

About Spanish Mountain Gold Ltd.

Spanish Mountain Gold Ltd. is focused on advancing its 100%-owned Spanish Mountain Gold Project towards its goal to build the next gold mine in the Cariboo Gold Corridor, British Columbia. On August 18, 2025, the Company filed an NI 43-101 Technical Report on SEDAR+ that sets out the Project's de-risked and optimized Preliminary Economic Assessment (PEA), with an updated Mineral Resource Estimate (MRE). We will continue to advance the Project to position the Company to make a construction decision in 2028. We are striving to be a leader in community and Indigenous relations by leveraging technology and innovation to build the 'greenest' gold mine in Canada. The Relentless Pursuit for Better Gold means seeking new ways to achieve optimal financial outcomes that are safer, minimize environmental impact and create meaningful sustainability for communities. Details on the Company are available on https://www.sedarplus.ca and on the Company's website: https://www.spanishmountaingold.com.


 

OPEC+ crude output boost is symbolic, but it still matters: Russell
It's easy to dismiss the agreement by the seven remaining members of the OPEC+ group of crude oil exporters to increase output for a third straight month in June as merely symbolic.

COMPANIES REPORTS
Cargojet Inc: Expected Q1 earnings of 82 Canadian cents per share
Ero Copper Corp: Expected Q1 earnings of 60 cents per share
Gibson Energy Inc: Expected Q1 earnings of 28 Canadian cents per share
RB Global Inc: Expected Q1 earnings of 99 cents per share
TMX Group Ltd: Expected Q1 earnings of 59 Canadian cents per share

World Markets

 

Euro STOXX 50 futures were up 14 points at 5,854, German DAX futures gained 45 points to 24,432, by 0430 GMT.

Shares edged higher in Asia as investors drew comfort from signs of patchy progress in settling the Middle East conflict at the start of a week packed with earnings and key economic data.

Oil prices eased after Trump said the United States would begin an effort to assist ships stranded in the Strait of Hormuz, but the lack of a U.S.-Iran peace deal kept the market supported above $100.

 

The S&P 500 and Nasdaq closed at records Friday, boosted by robust earnings and a dip in crude prices, and turning the page on their biggest monthly percentage gains in years.

 

The yen stabilised against the dollar, strengthening slightly after a few choppy sessions following suspected intervention by authorities to strengthen the currency last week.

 

U.S. Treasury yields fell on Friday alongside oil prices as traders weighed prospects for a deal to end the Iran war.

 

Gold prices nudged lower, weighed down by inflation worries that clouded the U.S. monetary policy outlook, while markets awaited developments in U.S.-Iran peace negotiations.


S&P 500 Index Mini Futures: 7,269.75; up 0.16%; 11.75 points
DJIA Mini Futures: 49,612; down 0.07%; 34 points
MSCI Asia, Ex-JP: 847.89; up 3.03%; 24.96 points
EUR/USD: $1.1729; up 0.06%; 0.0008 point
GBP/USD: $1.3587; up 0.08%; 0.0011 point
USD/JPY: 156.77 yen; down 0.18%; 0.29 point
Spot Gold: $4,608; down 0.12%; $5.62
U.S. Crude: $101.59; down 0.34%; $0.35
Brent Crude: $108.08; down 0.08%; $0.09
10-Yr U.S. Treasury Yield: 4.3718%; down -0.006 point
10-Yr Bund Yield: 3.0340%; up 0.004 point.

 
 
 
Screenshot 2026-05-04 171143.png
Screenshot 2026-05-04 171148.png

US

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. futures are lower after Iran's Fars News agency reported that two missiles hit a U.S. warship when it tried to pass through the Strait of Hormuz. European shares ticked lower as domestic automakers came under pressure following threats of a U.S. tariff hike.

Berkshire Hathaway Inc: Greg Abel moved to assure Berkshire Hathaway shareholders that he will invest wisely and manage the conglomerate's massive cash stake without the burdens of bureaucracy, as he seeks to win over those cautiously hoping he is a worthy successor to Warren Buffett. Abel, 63, spoke at Berkshire's annual meeting in Omaha, Nebraska, four months after succeeding arguably the world's most famous investor as chief executive officer. "As a conglomerate, we live by the fact that we hate bureaucracy," Abel said in response to a prerecorded question from Buffett, who also sat in a front-row seat. "We do not intend to be beholden to anyone. We start with that." Before the meeting, Berkshire said first-quarter operating profit totaled $11.35 billion, up 18% from a year earlier, when its insurance businesses suffered losses from southern California wildfires.

Blue Owl Capital Inc: Brown University's $8 billion endowment cut its stake in a publicly traded private credit fund run by alternative asset manager Blue Owl Capital by roughly 53%, according to a regulatory filing on Friday.  The Ivy League institute slashed its stake in Blue Owl Capital Corp, the firm's biggest publicly traded private credit fund, to 1.5 million shares at the end of March 31, compared with 3.2 million shares at the end of 2025, the 13-F filing showed. The university, however, retained its entire stake of roughly 2.6 million shares in the management company. Publicly traded BDCs, like OBDC, are trading at steep discounts as investors grow more skeptical of valuations and mounting stress in the private credit industry.

Citigroup Inc: The lender said it had appointed Anita Li as head of corporate banking for Hong Kong, effective in July 2026, as the U.S. bank seeks to grow its franchise in the city. Li will lead Citi's corporate banking business covering local companies, financial institutions, public sector organisations and multinational subsidiaries, Citi said in a statement. She joins from Standard Chartered Hong Kong, where she was most recently head of investors for Greater China and North Asia, and head of financial institutions for Hong Kong. She has more than 25 years of banking experience.

Coinbase Global Inc: The company said on Friday a deal has been reached on a key provision in a landmark crypto legislation that could clear the path for the bill to move forward in the U.S. Senate.  The bill stalled earlier this year because banks opposed a provision allowing stablecoin issuers and crypto firms to offer yield-bearing products and other rewards paid on stablecoins that could lure away bank deposits, making it harder for them to fund lending. Crypto giants such as Coinbase said they must be able to offer rewards to recruit customers and that barring them would be anticompetitive.

Lockheed Martin Corp & Boeing Co: Israel gave final approval for a plan to purchase two new combat squadrons of F-35 and F-15IA advanced fighter aircraft from Lockheed Martin and Boeing in a deal worth tens of billions of dollars, the defence ministry said on Sunday. The deal, approved by Israel's Ministerial Committee on Procurement, is a first step in a 350 billion shekel ($119 billion) plan to bolster Israel's military and "strengthen readiness ahead of a demanding decade for Israeli security," it said. Prime Minister Benjamin Netanyahu said much of this expanded defence budget will be to produce munitions in Israel and not be dependent on foreign countries. Israel, he noted, will also develop "groundbreaking" aircraft. The ministry added that the new squadrons will serve as a cornerstone of the military's long-term force development, addressing regional threats and preserving Israel’s strategic air superiority.

ECONOMIC DATA
1000 Durables ex-defense, R MM for March : Prior -0.3%
1000 Durable goods, R MM for March : Prior 0.8%
1000 Factory orders MM for March : Expected 0.5%; Prior 0%
1000 Durables ex-transport R MM for March : Prior 0.9%
1000 Nondefense cap ex-air R MM for March : Prior 3.3%
1000 Factory ex-transport MM for March : Prior 1.2%

Europe / Asia

 

A tanker reported being hit by unknown projectiles in the Strait of Hormuz, a maritime security organisation said, shortly after Trump said the U.S. would start helping free ships stranded in the Gulf by the U.S.-Israeli war on Iran.

German Chancellor Friedrich Merz said he must accept that President Donald Trump does not share his opinions in order to work with the United States within NATO, but stressed there was no link between their rift and a planned troop drawdown.

Trump said on Friday he would increase tariffs on cars and trucks from the European Union to 25% next week from the previously agreed 15%, saying the bloc had not complied with its trade deal with Washington.

Thyssenkrupp has paused talks with India's Jindal Steel International about a possible sale of the German industrial group's steel unit, it said on Saturday, marking a setback for CEO Miguel Lopez's restructuring efforts.

NatWest reported a 12% rise in first-quarter profit on Friday, as the bank grew lending income while taking a modest charge for potential losses from the impact of the Iran war even as it warned that Britain's economic outlook has darkened.

ECONOMIC DATA (GMT)
0750 France HCOB Manufacturing PMI for April: Expected 52.8; Prior 52.8
0755 Germany HCOB Manufacturing PMI for April: Expected 51.2; Prior 51.2

Source (but not limited to) AP, CNBC, Dow Jones, Financial Post, Financial Times, Globe & Mail, KITCO, LSEG, Thomson Reuters, Refinitiv.

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