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Saskatchewan Eyes Big Nuclear

Saskatchewan began a formal review of large nuclear reactor technologies, marking the province’s third attempt to bring nuclear power to a region rich in uranium but lacking operational reactors.

The Government of Saskatchewan and utility SaskPower announced the evaluation will run parallel to an existing small modular reactor project near Estevan. Officials said bringing a large reactor online would take at least 15 to 20 years.

“Our Energy Security Strategy sets out a pathway to nuclear power generation from both SMRs and large nuclear reactors, using Saskatchewan uranium,” Minister Responsible for SaskPower Jeremy Harrison said at a January 28 announcement in Saskatoon.

You can read more on the matter here.

What’s going on?

• Justice Department Rules Out New Charges in Epstein Investigation (theDeepDive)

• Mark Carney expects Donald Trump to ‘respect Canadian sovereignty’ after Alberta separatists met with U.S. officials (TS)

• China Sharpens Yuan Playbook for Reserve Status (theDeepDive)

• MPs agree to fast-track GST credit bill through Commons (Globe)

• Trump Launches “Project Vault”: A $12 Billion Minerals Stockpile to Counter China (theDeepDive)

• Trump to slash India tariffs after Modi ‘agrees’ to stop buying Russian oil (FT)

• France Bans US Videoconferencing Platforms Across Government (theDeepDive)

• The Housing Market Is Swinging Toward Buyers (WSJ)

• Canada Unveils Grocery Rebate, Supply Chain Investments to Combat Food Inflation (theDeepDive)

What’s the latest?

• Federal Cheques: Canadians have failed to cash 3.9 million federal cheques worth about $2 billion over the past four years. Unclaimed amounts include $141 million from the Canada Carbon Rebate and $42.8 million from the Canada Child Benefit. These cheques do not expire, though Ottawa increasingly relies on direct deposit instead of paper payments.

• Crypto: Bitcoin dipped below $80,000 for the first time since April 2025, briefly hitting $74,876 before rebounding to around $77,900, still down 12% week-over-week. The sell-off erased over $200B in market value and was driven by risk-off sentiment, forced liquidations ($2B+ since Thursday), and weakness in tech stocks and precious metals. Crypto funds saw $1.7B in weekly outflows, while analysts see near-term support around $70,000, with bearish scenarios pointing as low as $40,000.

• Markets: U.S. stocks rebounded Monday with the S&P 500 up 0.7%, Dow up 1%, and Nasdaq up 0.9% after heavy volatility in Asia and Europe. Gold and silver partially recovered after sharp sell-offs, with gold rebounding to about US$4,703/ozafter briefly falling below US$4,500, and silver swinging from -9% to +0.5%. Oil prices dropped over 5% on easing Iran tensions, lifting airline and cruise stocks, while global markets remained volatile amid Fed leadership uncertainty and leveraged metal trades unwinding.

• Tech: Nvidia shares fell about 1% after reports said its planned up to $100B investment in OpenAI is nonbinding and not finalized. Nvidia confirmed it will invest heavily but capped exposure below $100B, creating uncertainty over deal size and timing. Investors reacted to concerns about valuation, competition, and “circular financing” among major AI players.

• REE: The Trump administration will deploy nearly US$12 billion to build a U.S. strategic reserve of rare earth elements under “Project Vault,” funded by a US$10B Ex-Im Bank loan and US$1.67B in private capital. The reserve aims to reduce reliance on China, which controls about 70% of global mining and 90% of processing. The program includes a 15-year loan structure and builds on prior U.S. investments in firms like MP Materials and USA Rare Earth.

Is This the End of the Gold and Silver Rally?

The stock market and stuff

• Uranium Utilities Return to Market After Year of Delayed Contracting (theDeepDive)

• Eldorado Gold To Acquire Foran Mining For $3.8 Billion (theDeepDive)

• Gold and silver deepen historic slump (FT)

• Tesla Doubles Down On xAI With $2B Investment Even After Shareholders Said No (theDeepDive)

• Imperial Oil Books Shutdown Charge, Winds Down Arctic Output (theDeepDive)

In the juniors

• New Found Gold Continues to Confirm Continuity of At-Surface High-Grade Gold at Keats Zone, Queensway Gold Project (JMN)

• Tintina Mines Outlines US$328 Million NPV For Domeyko Sulfuros Copper-Gold Project (theDeepDive)

• NexGold Mining Intersects 3.31 g/t Gold over 20.0 Metres at the Goldlund Deposit, and Announces Change in Board of Directors (JMN)

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