The S&P/TSX Composite Index rose 190 points at midday Wednesday despite rising trade tensions with the United States after Monday's announcement of additional US 50% tariffs on some Canadian goods.
The mining sector has added 2.2%, making it the best performer, followed by energy, up 1%. Oil is trading at a six-week high as the U.S and Iran hostilities continue.
Info tech is the worst performer, down 2.7% at midday.
Lundin Gold (LUG.TO) said after the market closed on Tuesday that it is targeting an initial mineral resource estimate for the Sandia copper-gold porphyry deposit in early 2027 following exploration success at its Fruta del Norte district in southeast Ecuador.The company said recent drilling expanded the Sandia deposit and led to the discovery of two new mineralized porphyry systems, Sandia Northeast and Sandia Southeast. This increased the number of identified porphyry centres across the Fruta del Norte district to seven from five.The company said the Sandia deposit has expanded to an estimated footprint of about 1,600 meters in strike length, 700 meters in width and 1,000 meters in depth. It remains open to the north, east and at depth. Sandia is the largest and highest-grade porphyry system identified on the concessions.
Firm Capital Property Trust (FCD-UN.TO) after trade Tuesday said it completed the acquisition of a 50% interest in a portfolio of 10 manufactured housing communities in Alberta and Saskatchewan.The portfolio includes 1,649 sites and was acquired at a total property value of C$218 million, excluding transaction costs and closing adjustments, the company added.The acquisition was completed through the company's existing joint venture with SunPark Communities, with each partner owning a 50% interest. In addition to the properties, the transaction included 142 park-owned homes and 184 chattel mortgages, which provide additional cash flow, according to the statement.The company said it plans to sell the park-owned homes and focus on generating income from site rents and the chattel mortgages. The portfolio also includes 79 vacant sites and potential for 92 expansion sites that could offer additional cash flow streams in the future.
Matador Technologies (MATA.V) said after trade Tuesday that the company appointed Donato Sferra as chief executive officer and former CEO Deven Soni is now the executive chairman, effective July 16.Sferra, a co-founder of Matador and a director since the company's inception, brings more than 20 years of experience in capital markets, mergers and acquisitions, and corporate finance. He will continue serving on the board of directors, the company said.Soni served as CEO and chairman since Matador was founded. In his new role, he will continue to provide strategic guidance on corporate strategy, capital markets, and investor relations, the company said.