Sponsored by Cardiol Therapeutics

Pentagon Backs Nova Minerals’ Antimony Push

Nova Minerals (NASDAQ: NVA) has been awarded $43.4 million in Defense Department funding to produce antimony trisulfide at its Estelle project in Alaska, an announcement that sent the stock up as much as 20% to a 52-week high of $20.87 and lifted market cap to about $130 million.

The award flows to Nova’s US subsidiary, Alaska Range Resources, which holds an 85% interest in Estelle, and is explicitly earmarked to “extract, concentrate and refine stibnite” into military-grade antimony trisulfide for the US defense industrial base, according to the company’s description of the funding scope.

You can read more on the matter here.

What’s going on?

• Alberta Announces Pipeline With No Backing, BC Says “Not A Real Project” (theDeepDive)

• Canadians with U.S. permanent residency risk losing status, new advisory from Ottawa warns (Globe)

• Carney Launches Agency Dedicated To Military Spending (theDeepDive)

• Two killed in attack at Manchester synagogue (FT)

• French Authorities Investigate Russian Shadow Fleet Tanker (theDeepDive)

• Venezuela Accuses US of Flying Military Aircraft Near Its Coast (Bloomberg)

• Russia Prepares to Import Fuel as Drone Strikes Cripple Refineries (theDeepDive)

• OpenAI Valuation Hits $500 Billion While Altman Signs More Deals in Asia (WSJ)

• Taliban Imposes Total Internet Blackout Across Afghanistan (theDeepDive)

What’s the latest?

• Vancouver Real Estate: Vancouver home sales rose 1.2% in September to 1,875 but remained 20.1% below the 10-year average. Listings climbed 6.2% to 6,527, pushing total inventory up 14.4% year-over-year to 17,079, 36.1% above the 10-year norm. The composite benchmark price fell 3.2% from last year to $1,142,100, with detached and apartment prices both down 4.4%. Realtors expect lower rates and high inventory could stabilize the market heading into year-end.

• Markets: The S&P/TSX composite index fell 161.29 points to 29,946.38, dragged by telecom, financial, and base metal losses. In the U.S., the Dow dropped 145.69 points to 46,295.41, the S&P 500 slipped 11.68 to 6,699.52, while the Nasdaq rose 19.16 to 22,774.32. The Canadian dollar weakened to 71.54 cents US. Crude oil fell US$0.74 to US$61.04, and gold dropped US$38.20 to US$3,859.30.

• CPP: Canada Pension Plan Investment Board will invest US$1B for a minority stake in AlphaGen, which operates 23 U.S. power plants. AlphaGen is owned by ArcLight Capital Partners and provides power in high-demand U.S. markets. CPP’s Bill Rogers said the deal supports AlphaGen’s operational performance and sustainability goals. The transaction awaits regulatory approval and is set to close in H1 2026.

• Montreal Real Estate: Montreal-area home sales jumped 11% in September to 3,520, exceeding the 25-year average by about 620 deals. New listings rose 17% to 7,135, adding supply to the market. Median prices climbed, with single-family homes up 7% to $632,500 and condos up 4% to $430,000. Province-wide, sales also rose 11% to 7,645.

• Tesla: Tesla delivered 497,099 vehicles in Q3 2025, up 7% year-over-year, but produced only 447,450 units, down from 469,796 last year. Deliveries topped analyst expectations of ~447,600 but fell short of some independent forecasts. European sales slumped due to consumer backlash and competition, while U.S. demand rose ahead of an EV tax credit expiration. Tesla’s energy storage deployments hit 12.5 GWh, up from 9.6 GWh last quarter and 6.9 GWh a year earlier.

Uranium Is Back on America’s Radar

The stock market and stuff

• Amazon Integrates FanDuel Betting Into Prime Video NBA Coverage (theDeepDive)

• Bell Canada to roll out direct-to-cell satellite service in 2026 (Globe)

• Tesla sales hit record as US buyers rush to beat end of tax credits (FT)

• The Russell Will Lead the Next Market Crash!? | John Feneck (theDeepDive)

In the juniors

• Defense Department Awards Nova Minerals $43.4M Grant To Build Antimony Supply Chain (theDeepDive)

• Altamira Gold Encounters Porphyritic Intrusive Rocks In Initial Scout Drilling At Regional Targets (theDeepDive)

• Lithium Americas Secures $2.23B Gov’t Loan, US Gets 5% Equity In Firm And Thacker Pass JV (theDeepDive)

• ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners (theDeepDive)

FULL DISCLOSURE: Cardiol Therapeutics is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cardiol Therapeutics. The author has been compensated to cover Cardiol Therapeutics 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.