The M&E Dispatch // 117
Hello Everyone,
The subject line is a quote from my favourite movie of all time, Snatch. For those who haven’t seen it, it’s a wonderful gem from Guy Ritchie back in 2000.
The quote is from a scene in which these guys are robbing a bookies in London and the fight had been called off, so the cashier is trying to explain to them that “All bets are off” which means there’s no money to steal.
That’s what we’ve woken up to this morning with the latest play from south of the border, except it’s negotiations this time that are off.
If you slept in this morning and haven’t see what’s happened, the Ontario Government ran an ad south of the border yesterday, using a speech from former President Reagan, to hammer on tariffs hurting the average American family.
This did not go over well with President Trump and resulted in him proclaiming that all trade negotiations with Canada have ceased. Immediately.
Friends off.
So where does that put us? Have we entered into a phase where we throw our hands up, let out the trademarked Canadian sigh and simply accept our fate?
Forget NAFTA & CUSMA we’re now operating under TAP - Tariffs as Policy.
With the spat between the Ontario Government and Stellantis blurring the lines between Provincial relations and Federal Policy when does the actions of a Province require the oversight of the Federal Government?
I’m not even sure we have the right run an ad in the US about this. Something doesn’t seem right about taking that route.
We’d never enter into someone else’s home and tell them how to run their house, so what gives us the right to do so with Trade Relations; especially as that of a Province.
That’s what Foreign Policy is for, to make sure that the actions of a person, company or province is not detrimental to the nation as a whole.
Do we want to open the door to foreign meddling as a government policy?
If that’s the way we want to move forward we should really consider the experience of our adversary in that arena.
There’s a very long list of nations and regimes that have felt the brunt of The United States interacting directly with their people through “Soft Power Actions”. It’s one of the United State’s most formidable powers and I’m confident this is not a path we wish to head down.
I’m sure the talk of Ontario’s actions this morning will be lively in coffeeshops in rural Alberta this morning… and it should be.
We can’t, at a Provincial level, interact in Foreign affairs. No matter how important they feel to our own Province.
And that’s the real issue at hand, we’re all in uncharted territory and no one really knows where the lines are drawn, if there are even lines at all anymore.
// The Dirt
🔥 Top 3 Headlines to Watch
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Magna Mining Reports Multiple Copper, Nickel and Precious Metal Rich Intersections from the R2 Target at the Levack Mine in Sudbury, Ontario
Sudbury-based Magna Mining (TSXV: NICU) released strong assay results from the R2 target at the Levack Mine — including intervals grading up to 19.3 % Cu and 26.1 g/t Pt + Pd + Au — as it continues expanding high-grade footwall zones in Ontario’s Sudbury Basin.
https://magnamining.com/magna-mining-reports-multiple-copper-nickel-and-precious-metal-rich-intersections-from-the-r2-target-at-the-levack-mine-in-sudbury-ontario/ -
Fathom Nickel Extends Historic Gochager Lake Deposit Host Rock over a 3.5 km Strike Length
Fathom Nickel (CSE: FNI) confirmed the continuation of its nickel-copper-cobalt-bearing “container rock” at the Gochager Lake Project in Saskatchewan, mapping 3.5 km of strike with potential for additional massive sulphide bodies.
https://fathomnickel.com/fathom-announces-extension-of-the-historic-gochager-lake-deposit-host-rock-over-a-3-5-km-strike-length/ -
PJX Resources Announces Warrant Extension and Exploration Update
Cranbrook-based PJX Resources (TSXV: PJX) extended the expiry of 21.6 million warrants to November 2026 and reported completion of drilling on its Dewdney Trail Property near Kimberley and Cranbrook, BC.
https://pjxresources.com/pjx-resources-announces-warrant-extension-and-exploration-update/
🛠 Exploration & Development Highlights
Helius Minerals Executes Amending Agreement for the Serra Pelada Gold-PGM Project
Helius Minerals (TSXV: HHH) signed an amendment with Colossus Minerals to advance acquisition of a 75 % interest in Brazil’s Serra Pelada Project, introducing flexibility for TSXV and regulatory approvals.
https://heliusminerals.com/helius-minerals-executes-amending-agreement-for-the-serra-pelada-gold-pgm-project/
Adelayde Exploration Closes Acquisition of the Sisson NW Tungsten Project in New Brunswick
Vancouver-based Adelayde Exploration (CSE: ADDY) completed its option to acquire the Sisson NW Tungsten Property (4,890 ha) from two arm’s-length vendors, expanding its critical-minerals portfolio in Eastern Canada.
https://www.adelaydeexp.com/2025/10/adelayde-exploration-closes-acquisition-of-the-sisson-nw-tungsten-project-in-new-brunswick/
Apex Critical Metals Files Permit Applications for Rift REE Project (Nebraska)
Apex (CSE: APXC) initiated permitting with the Nebraska Department of Environment and Energy for its Rift rare-earth project within the Elk Creek district.
https://www.zimtu.com/apex-files-permit-applications-to-advance-exploration-at-rift-ree-project-nebraska/
💰 Financings & Market Moves
Avanti Gold Closes C$25 Million LIFE Private Placement
Avanti Gold (CSE: AGC) closed a 50 million-unit private placement at $0.50 per unit for gross proceeds of C$25 million, led by SCP Resource Finance LP.
https://www.avantigoldcorp.com/post/avanti-gold-announces-closing-of-c-25-million-life-private-placement
Cruz Battery Metals Announces Private Placement to Fund Nevada & Ontario Projects
Cruz Battery Metals (TSXV: CRUZ) announced a non-brokered private placement to support exploration on its Nevada and Ontario battery-metals projects.
https://www.cruzbatterymetals.com/2025/10/cruz-battery-metals-announces-private-placement-to-fund-work-programs-on-its-nevada-ontario-projects/
🧬 Corporate & Policy
New Pacific Metals Appoints Permanent CEO and CFO
Vancouver-headquartered New Pacific Metals (TSX: NUAG) confirmed Jalen Yuan as CEO and Chester Xie as CFO, advancing the Silver Sand and Carangas projects in Bolivia under Canadian leadership.
https://www.newpacificmetals.com/new-pacific-metals-announces-permanent-ceo-and-cfo-appointments/
Voyageur Pharmaceuticals Adds Wall Street Expertise to Board
Voyageur Pharmaceuticals (TSXV: VM) expanded its board with U.S. market finance experience to support cross-border growth and capital market strategy.
https://voyageurpharmaceuticals.ca/voyageur-pharmaceuticals-ltd-strengthens-board-of-directors-with-wall-street-expertise-to-facilitate-u-s-market-expansion/
Anfield Energy Schedules Velvet-Wood Mine Ground-Breaking (Nov 6)
Anfield Energy (TSXV: AEX) set a ground-breaking ceremony for its Velvet-Wood uranium-vanadium mine in Utah, marking a key milestone for North American nuclear supply development.
https://anfieldenergy.com/anfield-energy-announces-november-6th-ground-breaking-ceremony-for-velvet-wood-uranium-vanadium-mine-advancing-u-s-energy-independence/
🌄 On the Horizon
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Sudbury Reawakens: High-grade R2 results at Levack cement Ontario’s continued leadership in nickel-copper-PGM exploration.
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Critical Minerals Pipeline: Projects in Saskatchewan and New Brunswick signal Canada’s expanding role in battery and strategic metal supply chains.
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Funding Momentum: Multiple LIFE and private placements highlight investor confidence in Canadian-led exploration ventures.
// The Hustle
Jay’s game 1 tonight, every other person walking into the coffeeshop this morning is sporting Jay’s gear and the horn honking and flag waving has begun.
Massive weekend ahead, on many fronts and I’m really excited to share some incredible updates on Tuesday.
Have a great weekend all,
- Lee