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CSIS Flags Alberta Referendum Interference Risks

Alberta Opposition Leader Naheed Nenshi released a reply from CSIS this week confirming the spy agency is treating the risk of foreign interference in the province’s October independence referendum as a serious concern.

Nenshi first wrote to CSIS in June, asking the agency to publicly track interference risks ahead of the October 19 vote. CSIS Director Dan Rogers responded on July 27, writing that the agency “will continue to investigate any foreign interference in Canada’s democracy,” including in connection with the referendum, though he noted CSIS’s mandate excludes lawful protest, dissent or political advocacy.

You can read more on the matter here.

What’s going on?

• Beijing Eases Its Grip on Panama’s Merchant Fleet After Backroom Talks (theDeepDive)

• JPMorgan Chase to Invest $750 Billion to Boost U.S. Housing Supply, Homeownership (WSJ)

• Explosion at Elite Moscow Restaurant Fuels Speculation of Targeted Attack (theDeepDive)

• WestJet, union reach tentative deal to end strike by flight attendants (CBC)

• Blanche Strikes Deal With GOP Holdouts, Formally Kills Weaponization Fund (theDeepDive)

• Infantino sought Trump backing after failed World Cup sell-off plan, sources say (Globe)

• Massie Accuses Republicans of Enabling Morocco’s Ceuta Claim (theDeepDive)

• Japan vows further yen intervention with US if needed (FT)

• Capital One Says Trump Account Closures Followed AML Review (theDeepDive)

What’s the latest?

• Mining: Canada approved the Crawford Nickel Project in Ontario, a major critical minerals mine expected to add up to $70 billion to GDP, attract $5 billion in investment, and create about 4,000 jobs over its 41-year lifespan. The project, backed by Canada Nickel, is intended to strengthen supply chains for EV batteries, defence, and advanced manufacturing, though it still requires additional permits before construction can begin.

• Oil: The Michigan Supreme Court ordered regulators to reconsider Enbridge's Line 5 tunnel permit, saying they failed to fully assess the project's environmental impacts, including how it could extend the pipeline's lifespan and affect the Great Lakes. The ruling delays the project again, while Enbridge says the tunnel would improve safety and is reviewing its legal options.

• Economy: Canada's economy rebounded in Q2, easing recession fears, with GDP rising 0.3% in May and early estimates pointing to 3.4% annualized growth for the quarter. Economists expect the Bank of Canada to keep interest rates unchanged in September, though growth is likely to slow later this year due to U.S. tariffs and higher energy prices.

• Politics: Bank of Canada Governor Tiff Macklem defended the central bank's actions during a security workers' strike, saying it complied with labour board rulings after initially using replacement contractors. The union argues the bank violated Canada's anti-replacement worker law and is calling on it to return to the bargaining table for a new collective agreement.

• Markets: SpaceX reports its first earnings as a public company on Tuesday after its stock has fallen over 50% since its IPO, wiping out more than $500 billion in market value. Investors will focus on Starship's progress, AI strategy, data center revenue, and capital spending, with analysts saying management's outlook—not the quarterly numbers—will be the key driver for the stock.

Getchell Gold Updated PEA

The stock market and stuff

• Enbridge’s Line 5 Tunnel Hits Another Snag at Michigan’s Top Court (theDeepDive)

• Equinox Gold Closes Orla Merger, Sets Up CEO Handover to Jason Simpson (theDeepDive)

• AstraZeneca investors raise concerns over mega-merger talks (FT)

• Westinghouse Confidentially Files for Initial Public Offering (theDeepDive)

• Tether Buys the Gold Dip, Adds 14 Tonnes (theDeepDive)

In the juniors

• Algo Grande Provides Phase II Drill Update; Commences Hole 3 with Second Drill Rig at Cerro Grande (JMN)

• Algoma Posts Record Plate Sales While Its Submarine Deal Collapses (theDeepDive)

• Metalsource Mining Extends Strike Length of Mineralization at Silver Hill with 65m South Step Out from SH26-19 (JMN)

FULL DISCLOSURE: PTX Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of PTX Metals. The author has been compensated to cover PTX Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.