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OneBC Implodes Weeks After Launch

OneBC removed Dallas Brodie as party leader following allegations of erratic behavior and unauthorized access attempts, throwing the fledgling political party’s future into doubt just weeks after its formation.

The party’s board of directors voted to remove Brodie after Tara Armstrong, OneBC’s only other elected member in the British Columbia Legislature, announced Saturday she had lost confidence in Brodie’s leadership.

“There have been multiple recent attempts by agents instructed by Ms. Brodie to obtain control of party assets without authorization, including multiple attempted breaches of security systems, communications software, and databases of the party,” OneBC stated in a social media post early Sunday.

You can read more on the matter here.

What’s going on?

• US-Led Critical Minerals Coalition Pax Silica Is Missing Canada (theDeepDive)

• Chile’s New Right-Wing Leader Rode the Antimigrant Wave Sweeping Latin America (WSJ)

• Calgary-Banff Rail Proponents Submit Plan for Federal Major Project Status (theDeepDive)

• Ukraine and US claim progress towards peace deal but divisions persist (FT)

• Ottawa Leans On Bay Street And Hits Talent Wall (theDeepDive)

• Copper could hit ‘stratospheric new highs’ as hoarding of the metal in U.S. continues (CNBC)

• 580K Trust Shortfall Triggers Real Estate Broker’s Account Freeze (theDeepDive)

• Bondi Beach shooters probed for terrorism links, Australian police say (Globe)

• Recall Law Bites Danielle Smith Back In First Petition In 90 Years (theDeepDive)

What’s the latest?

• CMHC: Canada’s housing starts rose 9.4% month-over-month in November to a seasonally adjusted annual rate of 254,058 units, up from 232,245 in October. Year-to-date starts total 219,077 units, 4% higher than the same period in 2024. However, actual urban starts fell 3% year-over-year, and the six-month moving average declined 1.7% to 264,445 units.

• Cannabis: Canopy Growth is acquiring MTL Cannabis in a deal valued at ~$125 million to strengthen its medical cannabis market share in Canada. MTL shareholders will receive 0.32 Canopy shares + $0.144 cash per MTL share, implying value based on Canopy’s $2.40 closing price. The transaction is expected to close before end-February, pending regulatory and shareholder approval.

• Market: U.S. stocks fell modestly, with the S&P 500 down 0.3%, Dow down 137 points, and Nasdaq down 0.5%, led by weakness in tech and AI stocks. Markets are focused on key U.S. data this week, including November jobs (+40,000 expected) and inflation at 3.1%, which will shape Fed rate expectations. The 10-year Treasury yield eased to 4.18%, reflecting cautious positioning ahead of the reports.

• Real Estate: Canadian home sales fell 10.7% year-over-year in November to 33,895 transactions, with prices down 2% YoY to an average of $682,219. CREA’s home price index declined 3.7% YoY, while listings rose 8.5% YoY, signaling continued oversupply in some regions. With the Bank of Canada holding rates at 2.25%, economists expect gradual, uneven recovery in 2026, though near-term activity remains subdued.

• Economy: Canada’s inflation held at 2.2% in November, below expectations, but grocery prices jumped 4.7% year-over-year, the fastest pace since December 2023. Beef prices rose 17.7%, coffee 27.8%, and food inflation is projected at 4–6% in 2026, according to the Food Price Report. Core inflation eased slightly, reinforcing expectations the Bank of Canada will hold rates at 2.25% through most or all of 2026.

Gold and Silver Delivery Is Exposing the Paper Market

The stock market and stuff

• Roomba Pioneer iRobot Declares Bankruptcy, Chinese Manufacturer Takes Over (theDeepDive)

• Bank of Japan Poised To Hike Rate At 30-Year High (theDeepDive)

• JPMorgan Steps Further Into Crypto With Tokenized Money Fund (WSJ)

• Equinox Gold To Sell Brazil Operations For Up To $1.0 Billion (theDeepDive)

In the juniors

• Alta Copper To Be Acquired For $1.40 A Share In Cash (theDeepDive)

• Li-FT To Buy Winsome In An A$130.8M Deal (theDeepDive)

• Soma Gold: Q3 Earnings Impacted By Labour Strike (theDeepDive)

• Thesis Gold: The Multi-Billion Dollar Lawyers-Ranch PFS (theDeepDive)

• F3 Uranium Drills 3.4% U3O8 Over 8.5 Metres At JR Zone (theDeepDive)

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