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Poilievre’s Big Tax Cut Plan

Conservative Leader Pierre Poilievre’s recently announced Canada First Reinvestment Tax Cut has proposed a policy to eliminate capital gains taxes on reinvested proceeds within Canada.

“Introducing the Canada First Reinvestment Tax Cut: no capital gains tax when you reinvest proceeds IN CANADA. Bring home billions of new investments in home building, factories, mines, small businesses and make our economy independent from the Americans,” he said.

You can read more on the matter here.

What’s going on?

• ‘Build Canada Homes’: A “Federal Developer” Is Framing The Incoming Elections Talk (theDeepDive)

• Most Canadians back export taxes on oil and potash in fight against Trump tariffs (Globe)

• German Lawmakers Call for Gold Stored in the US to Be Verified, Repatriated (theDeepDive)

• Landlords are offering free months of rent, complimentary Wi-Fi and Presto cards to attract new tenants (TS)

• Trump’s Tariff Was Able To Unite China, Japan, South Korea… Against It (theDeepDive)

• Investors flock to gold funds as fears over Trump tariffs mount (FT)

• UK’s Last Primary Steelworks Faces Closure as Chinese Owner Rejects Government Offer (theDeepDive)

• Trump Tariffs Threaten $8.2 Billion American Dairy Exports (Bloomberg)

• China Launches Major Military Drills Around Taiwan After US Defense Visit (theDeepDive)

• Health Department Begins Sweeping Job Cuts (WSJ)

• Liberal MP’s Call For Kidnapping Remark Sparks National Outrage (theDeepDive)

What’s the latest?

• First Quantum: First Quantum Minerals Ltd. dropped one arbitration case and suspended another against Panama, signaling possible negotiations over its $10 billion Cobre Panama mine. The mine, which contributed 5% to Panama’s GDP and 40% of First Quantum’s revenue, was shut down in December 2023 amid protests. At peak production, it accounted for 1.5% of global copper output. Panama’s president has stated negotiations can only resume if arbitration cases are withdrawn.

• Rogers: Rogers Communications is renewing its 12-year NHL broadcast deal for $11 billion (US$7.7 billion), more than doubling its previous $5.2 billion contract from 2013. The company’s shares dropped as much as 6.5% in Toronto, hitting their lowest intraday level since 2012. Analysts suggest the deal could raise Sportsnet subscription prices as premium sports content costs rise. Rogers also owns a 37.5% stake in Maple Leaf Sports & Entertainment and has expanded its sports portfolio by acquiring BCE Inc.’s stake in MLSE, which owns the Toronto Maple Leafs and Raptors.

• Trade War: Canada’s equity market raised just US$2 billion in Q1, down from US$2.9 billion a year ago, as trade tensions with the U.S. caused volatility. IPO activity slowed, with companies hesitant due to fluctuating valuations. However, precious metals miners raised US$1.1 billion—more than four times last year’s amount—led by Discovery Silver Corp.’s $247.5 million deal. Analysts note that outside the mining sector, equity raises remain difficult due to market uncertainty.

• Real Estate: Canada’s housing market is expected to weaken further due to economic uncertainty from U.S. trade tariffs, according to Oxford Economics' Tony Stillo. Home prices have already fallen, with rising listings and nervous buyers pulling back, and he forecasts an additional 5% decline nationwide. However, lower interest rates and housing undersupply will limit the downturn. Affordability is unlikely to improve, as lower prices will be offset by weaker incomes and declining consumer confidence.

• Canaccord: Canaccord Genuity is selling its U.S. wholesale market-making business to Cantor to streamline its U.S. capital markets operations. The financial terms were not disclosed, but the deal is expected to close in the first half of Canaccord's 2026 financial year. CEO Jeff Barlow stated that the move focuses the company on its core strengths in advisory and capital raising for high-growth sectors. Both firms will work to ensure a smooth transition for clients and employees.

Aya Gold & Silver Q4 Earnings

The stock market and stuff

• Equinox Gold Suspends Operations At Los Filos Mine (theDeepDive)

• BYD car sales soar as Tesla struggles in Europe (FT)

• CoreWeave rises above IPO price on third trading day (Reuters)

• Someone Just Positioned For $14 Billion Physical Gold Delivery in Last-Minute Play (theDeepDive)

In the juniors

• ESGold Concludes ANT Survey At Montauban Project (theDeepDive)

• i-80 Gold Reports Loss Of $121 Million For 2024 (theDeepDive)

• Endeavour Silver To Acquire Minera Kolpa For $145 Million (theDeepDive)

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. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.