Sponsored by Cytophage Technologies

Trudeauville: Canadians resort to living at rest stops in their RV’s

A rest area along Highway 1 in Abbotsford, BC, has transformed into an RV camp for Canadians unable to afford rent. This is the stark reality for many facing the mass immigration housing crisis and soaring living costs.

At the Cole Road Rest Area, dozens of RVs are now permanent fixtures. Chris and his girlfriend, along with their one-year-old son and dog, are among the residents. “I hate it. I’m embarrassed. I don’t like it. But what other option do I have?” said Chris, who found that a two-bedroom rental costs $2,800 per month.

You can read more on the matter here.

What’s going on?

• Canadian Government Pockets Nearly Half of Legal Cannabis Revenue (theDeepDive)

• Biden Gives Legal Status to Immigrant Spouses of U.S. Citizens (WSJ)

• Saskatchewan Research Council Strikes $3M Deal To Keep Rare Earths Away From China (theDeepDive)

• Thailand to be first Southeast Asian country to recognise same-sex marriage (Reuters)

• Alex Jones Loses Control of Infowars as Court Orders Liquidation of Personal Assets (theDeepDive)

• South Korean soldiers fire warning shots after North Korean troops intrude for second time this month (Globe)

• Russian smugglers scour China for second-hand machine tools (FT)

• The Economist Declares China as Emerging Scientific Superpower, Challenging Western Dominance (theDeepDive)

• Putin vows to support North Korea against the United States (Reuters)

• Trudeau welcomes inquiry decision to probe allegations of parliamentarians colluding with foreign states (Globe)

• SEC Poised to Seek Enforcement Action Barring Elon Musk From Holding Executive Positions (theDeepDive)

What’s the latest?

• US Retail Sales: In May, U.S. retail sales rose by a modest 0.1%, falling short of economists' expectations, as high inflation and interest rates continued to constrain consumer spending. Excluding gasoline and auto sales, retail sales saw a similar 0.1% increase. Consumer sentiment also dropped for the third month in a row to 65.6, reflecting ongoing concerns about inflation.

• Nvidia Insiders Cash Out: Nvidia Corp. insiders have sold over $700 million worth of shares in 2024 amid soaring stock prices driven by high demand for its AI accelerator chips. Approximately 770,000 shares have been sold by executives and directors, marking the highest six-month sale period since early 2023.

• O&G Production: A Deloitte report indicates that Canadian oil and gas companies are likely to reduce production rather than invest in expensive carbon capture and storage (CCS) technology to meet federally imposed emissions caps. The report, which contradicts the federal government's stance, suggests that CCS is not economically viable, making production curtailment a more cost-effective option.

• Bitcoin Slump: Bitcoin hit a one-month low, dropping as much as 2.7% to $65,530, as outflows from digital-asset investment products and the prospect of sustained high U.S. borrowing costs impacted the market. Last week, $600 million was withdrawn from digital-asset products, the largest outflow since March, according to CoinShares International Ltd. Smaller tokens such as Ether, Solana, and Dogecoin also fell.

• Canada Supports Mining: Canada's government has facilitated a deal for the Saskatchewan Research Council to purchase stockpiled rare earth materials from Vital Metals Ltd. for $3 million, preventing the Australian firm from selling the stockpile to China's Shenghe Resources Holding Co. for $2.4 million. This move underscores Canada's strategy to limit Chinese involvement in its critical minerals sector, which is considered vital for the country's prosperity and strategic goals.

Insights on silver and copper junior mining investments w/ John Feneck

The stock market and stuff

• Boeing, Airbus, And Chinese Counterfeit Titanium: A Closer Look (theDeepDive)

• U.S. judge dismisses Exxon case against activist investor over proxy filing (Globe)

• Berkshire Hathaway boosts stake in Occidental Petroleum to nearly 29% (Reuters)

• Stellantis recalls nearly 1.2M vehicles to fix software glitch that disables rear camera (CBC)

• Wells Fargo and Bilt Deny Reports of Troubled Credit Card Partnership (theDeepDive)

In the juniors

• Austral Gold Sells Off Investments To Cover Production Shortfall (theDeepDive)

• Vizsla Silver Shareholders Approve Spinout Of Royalty Asset (theDeepDive)

• Golden Cariboo Hits 0.29 g/t Gold Over 263.1 Metres (theDeepDive)

• Sterling Metals Acquires 100% Interest In Adeline Copper Project After Option Exercise (theDeepDive)

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