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S&P/TSX Composite Index Down 195 Points Mid-Morning Tuesday, Most Sectors Lower

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The S&P/TSX Composite Index was down 195 points mid-morning Tuesday, with nearly all sectors in the red.

The worst performer was the healthcare sector, down 2.2%, followed by base metals, down 1%. Gold was 0.4% lower on last look, to $4,335.30 as expectations rise that the US Federal Reserve will announce an interest rate increase Wednesday afternoon.

The energy sector, up 1.8% was the top gainer, as oil prices continue to climb.

In stocks, Evertz Technologies (ET.TO) was down 9% to CA$13.51 after it reported a fiscal first-quarter earnings miss Monday after trade.

What else is happening in Mining & Metals?

Mining & Metals

Trans Canada Gold to Raise CA$1.5 Million in Private Placement of Units

Trans Canada Gold (TTG.V) plans to raise up to CA$1.5 million in a private placement financing of flow-through (FT) and non-flow-through (NFT) units, the company said after trade on Monday.Trans Canada will issue up to 3.95 million FT units at CA$0.19 each, for CA$750,000 in proceeds. Each FT unit will consist of one FT share and and half of a two-year warrant to buy a share at CA$0.30.The company will issue up to 4.4 million NFT units at CA$0.17 apiece, for CA$750,000 in proceeds. Each NFT unit consists of one share and half of one two-year warrant to buy a share at $0.30.The offering is expected to close in mid-October.Proceeds will be used for year Phase 2 exploration and underground and surface drilling costs for the Harrison Lake Property in British Columbia and general working capital.

$TTG.V
Mining & Metals

Generation Mining Secures CA$340 Million in Final Funding for Marathon Project

Generation Mining (GENM.TO) said Monday it secured CA$340 million in final funding needed to complete the financing package for construction of its Marathon Copper-Palladium Project in northwestern Ontario.The funding includes about CA$140 million from Canada Growth Fund and CA$50 million from Canada Infrastructure Bank.The package consists of a CA$200 million bought-deal financing, a C$40-million private placement by Canada Growth Fund and CA$100 million in subordinated unsecured convertible notes.Generation Mining said the latest funding, together with previously announced financing, brings the project's fully financed construction package to about CA$1.3 billion.The company's board is expected to make a final investment decision after completion of all financings included in the latest funding package.Separately, the company said it agreed to terms with Glencore for an offtake agreement under which Glencore will purchase polymetallic copper concentrate produced at the Marathon project.

$GENM.TO
Mining & Metals

Evertz Technologies' Q1 Net Earnings Fall, But Revenue Rises

Evertz Technologies (ET.TO) said Monday after trade that its fiscal first-quarter 2027 earnings fell to CA$0.10 per share, from CA$0.15 per share, in the prior year period.Analysts polled by FactSet had expected CA$0.14 per share.Net earnings fell to CA$7.96 million in the three-month period ended July 31, down from CA$11.89 million a year prior.Quarterly revenue rose to CA$118.3 million, from CA$112.1 million, slightly higher than the CA$118.1 million expected.The company will pay a regular quarterly dividend of CA$0.205 on Oct. 1 to shareholders of record on Sept. 24.Evertz shares closed unchanged at CA$14.85 on the Toronto Stock Exchange.

$ET.TO