FireFly Metals (FFM.TO) provided the latest drilling results from the Green Bay copper-gold project in Newfoundland and Labrador.
Highlights include 11.5 meters at 13.2% copper equivalent, 18.9 m at 8.2% copper equivalent, and 11.1 m at 12.1% copper equivalent, the mineral exploration company said late Sunday.
FireFly said it will incorporate the results into an updated resource estimate, which will support a preliminary economic assessment scheduled to be released by the end of August.
Grid Metals (GRDM.V) after trade Friday said it received conditional TSX Venture Exchange approval for its venture with Agnico Eagle Mines' Avenir Minerals unit to develop the Falcon West Cesium Property in southeastern Manitoba.Through the agreement, Avenir acquired an initial 15% interest in the property for C$3.75 million in cash and will fund its share of future costs. Grid retains an 85% stake and will remain the operator of the joint venture, the company said.Avenir also has the option to increase its ownership in Grid up to 19.99% after a mineral resource estimate is published. In addition, it can raise its interest in the Falcon West project to 30% if a preliminary economic assessment is completed or a mine plan is adopted, according to the statement.
Questerre Energy (QEC.TO) said Friday that its PX Energy oil shale processing facility in southern Brazil has been temporarily shut down following a critical pipe failure in the furnace that supplies heat to the main processing plant.The company said operations personnel initiated the shutdown to prevent further damage to equipment. No injuries were reported and the main processing facility was not damaged.Questerre expects the shutdown to last about three to four weeks, during which the facility will remain offline, resulting in lost production and revenue. The company estimates the direct cost of the corrective work at about C$1.5 million.
The S&P/TSX Composite Index edged lower on Friday as a sharp decline in Telus weighed on telecom stocks, offsetting gains in battery metals and energy shares, while investors digested stronger-than-expected Canadian GDP data and corporate earnings.The index closed down 279.70 points, or 0.8%, at 35,226.14, with mixed sectors. The Battery Metals Index led gainers, up 4%, while energy was up 0.6%. Telecom led decliners, down 3.5%.In commodities, West Texas Intermediate (WTI) crude oil rose on Friday as ongoing tensions in the Middle East and concerns over potential supply disruptions through the Strait of Hormuz supported prices.WTI crude oil contract closed up $1.08, or 1.3%, and settled at $84.67 per barrel, while September Brent oil was last seen up $1.07, or 1.2%, at $90.20 per barrel.Meanwhile, spot gold was last seen down $56.01, or 1.4%, at $4,047.40 per ounce. Comex gold futures for December declined 1.23%, or $51.00, to $4,109.60 per ounce.Canada's real gross domestic product rose 0.3% in May for a second straight month, with preliminary data pointing to a further 0.2% monthly increase in June, Statistics Canada said Friday.May's GDP expansion was higher than a 0.2% monthly advance in a survey compiled by Bloomberg.Goods-producing industries led the growth, expanding 0.6% monthly as most sectors within the category improved. Service industries increased 0.2%, driven mainly by gains in real estate and rental and leasing, along with public administration.Overall, 13 of 20 industries posted increases in May, pointing to a broad-based economic expansion, added StatsCan. With the advance estimate for June, GDP points to a growth of 0.8% in the second quarter of 2026, according to the agency. The gains came after two successive quarters of negative growth for Canada's economy that had been deemed in a technical recession.In stocks, Telus (T.TO) closed down 11.3% at C$13.38 on Friday after reporting its second-quarter adjusted earnings fell 27% to C$0.16 per share.Telus also declared a quarterly dividend of C$0.1875 per share, which it described as a "reset" of 55% to an annualized C$0.75 per share, from the previous C$1.6736 per share. The cut is expected to generate C$2.7 billion in cumulative cash savings through 2028, which will be used to pay down debt.Meanwhile Enbridge (ENB.TO, ENB) closed down C$1.40 at C$76.28 after reporting second-quarter adjusted earnings per share at C$0.63 compared with C$0.65 a year earlier.