Sponsored by Alaska Energy Metals

SMR’s coming to Alberta

Capital Power Corp., an Alberta-based utility, has unveiled plans to construct the province’s first nuclear power reactor by 2035. The company, which currently relies on a diverse energy portfolio, including natural gas, wind, and solar, announced a strategic partnership with Ontario Power Generation (OPG), a major player in the nuclear energy sector.

Over the next two years, Capital Power and OPG will jointly evaluate the feasibility of building small modular reactors (SMRs) in Alberta. If the project proceeds, both companies may share ownership and operation responsibilities, according to OPG.

You can read more on the matter here.

What’s going on?

• Canada’s CPI Increases 3.4% In December, 3.9% Throughout 2023 (theDeepDive)

• Arctic Blast: About 80% of the US Could See Below-Freezing Temps (theDeepDive)

• Shell Suspends Red Sea Shipments Amid Fears of More Houthi Attacks (WSJ)

• Canadian Single Detached Home Starts Decline 25% In 2023 (theDeepDive)

• Ramaswamy Bows Out, Tries to Win Back Trump’s Love Following Iowa Results (theDeepDive)

• Nikki Haley refuses more presidential debates unless Trump participates (CNBC)

• Kazatomprom Faces Production Challenges in 2024 Amidst Supply Chain Disruptions (theDeepDive)

• Mike Lindell Vs Fox News: Was He ‘Cancelled’ Or Is It Because He Owes the Network $7.8 Million? (theDeepDive)

• CMHC says annual pace of housing starts up 18% in December (BNN)

• John Deere Partners with SpaceX’s Starlink for Global Connectivity in Digital Farming (theDeepDive)

• MrBeast Takes Elon Musk Up On His Offer, Posts First X Video ‘To Test’ Ad Revenue (theDeepDive)

• Canada inflation quickens to 3.4%, core unexpectedly accelerates (BNN)

What’s the latest?

• Housing Starts: In December, Canada saw an 18% increase in the annual pace of housing starts compared to November, largely driven by a surge in multi-unit urban constructions in cities like Vancouver and Montreal. The CMHC reported that the seasonally adjusted annual rate of housing starts for December was 249,255 units, up from November's 210,918. 

• Inflation Continues: In December, Canada's inflation rate rose to 3.4% year-over-year, slightly up from 3.1% in the previous month. Core inflation measures, which exclude volatile components, also increased, indicating persistent price pressures. This uptick in inflation presents challenges for the Bank of Canada's target of 2%, potentially influencing their decision to maintain the benchmark overnight rate at 5% to manage ongoing inflation concerns.

• Musk Wants More: Elon Musk, CEO of Tesla, has expressed his desire to increase his voting control in the company to at least 25%, nearly double his current stake, especially as Tesla expands into artificial intelligence and robotics. He stated on X that this level of control would make him comfortable while ensuring he could still be overturned.

• Loblaws Wants Cannabis Sales: Loblaws, a major grocery store chain in Canada, has been actively lobbying the Ford government to change cannabis regulations in Ontario. Their proposal includes altering existing rules to allow cannabis sales in stores that also sell other items like snacks and chocolates. Documents obtained through freedom of information laws reveal that Loblaws has pursued this change since 2019.

• Teck Shortfall: Teck Resources Ltd. reported that its copper and zinc production in 2023 fell below the company's expectations. Copper production totaled 296,500 tonnes, missing the guidance range of 320,000 to 365,000 tonnes, mainly due to a slower ramp-up at its QB2 project and a geotechnical issue at its Highland Valley Copper operations.

North America’s first cobalt refinery

The stock market and stuff

• Trump-linked stocks jump after former president's emphatic win in Iowa Republican contest (Reuters)

• Spot Bitcoin ETFs’ Market Impact Remains Limited Despite Strong Initial Inflows (theDeepDive)

• Uber Is Closing a Business It Bought for Over $1 Billion Three Years Ago (WSJ)

• Synopsys to buy engineering software firm Ansys in $35 billion deal (Reuters)

• First Quantum Minerals Halts Mining Operations in Australia (theDeepDive)

In the juniors

• Benton Resources Hits 8.79% Copper Over 6.03 Metres At Great Burnt (theDeepDive)

• Uranium Energy Corp To Restart Production At Christensen Ranch ISR Operation (theDeepDive)

• AI Startup Sakana Raises $30 Million to Build Smaller AI Models (Bloomberg)

• Patriot Battery Metals Begins 45,000 Metre Drill Program At Corvette (theDeepDive)

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