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US Army Launches Janus Nuclear Program

The US Army launched the Janus Program to field a commercially owned-and-operated microreactor at a domestic military installation, establishing a framework to deliver energy sources for critical missions.

Announced at the Association of the US Army Annual Meeting’s Warriors Corner, the initiative positions the Army to lead next-generation nuclear power for defense installations. Energy Secretary Chris Wright joined Army leaders to mark the launch.

The program will leverage Army nuclear regulatory authorities in close partnership with the Department of Energy to ensure “the highest standards of safety, oversight, and transparency,” aligning governance with deployment at pace.

You can read more on the matter here.

What’s going on?

• BRICS Nations Accelerate Gold Purchases, Brazil Rejoins Buyers (theDeepDive)

• Trump admin federal job cuts likely to be ‘north of 10,000,’ Vought says (CNBC)

• Progressive Conservatives Oust Liberals in Newfoundland Upset (theDeepDive)

• China will remove canola tariffs if Canada scraps EV levies: ambassador (CTV)

• Bank of Canada Calls for More Competition in Financial Sector (theDeepDive)

• Canada, U.S. officials resume high-level trade talks (Globe)

• Canadian Pension Fund Warns of Risk to US Treasury Safe-Haven Status (theDeepDive)

• US approves new bank backed by billionaires with ties to Donald Trump (FT)

• Pentagon Press Rules Rejected By News Outlets As Access Is Threatened (theDeepDive)

• Bank of America sued over alleged financial ties to Jeffrey Epstein (Reuters)

• Major Indian Fund Houses Suspend Silver ETF Subscriptions Amid Supply Crunch (theDeepDive)

What’s the latest?

• Politics: Scott Bessent stated that the U.S. will not alter its China trade stance due to market volatility. He dismissed reports from The Wall Street Journal suggesting Beijing expects U.S. market pressure to force negotiations. His comments came amid sharp stock swings tied to tariff threats and rare earth export tensions. Bessent emphasized that trade policy decisions are based on economic strategy, not market reactions.

• Markets: U.S. stocks rose Wednesday as the S&P 500 gained 0.9%, the Dow Jones Industrial Average added 320 points (0.7%), and the Nasdaq Composite climbed 1.1%. Gains were driven by strong earnings from ASML, Nvidia, and major banks like Bank of America (+3.9%) and Morgan Stanley (+6.9%). Treasury yields eased to 4.00%, and gold rose 1.1% to above $4,200/oz, up nearly 60% year-to-date. Earnings reports are under heightened scrutiny as government shutdown delays key economic data, influencing Federal Reserve rate cut expectations.

• Real Estate: Royal LePage reported a 3.5% year-over-year drop in GTA home prices in Q3 2025 to $1,114,900, with condo prices down 7.4% to $668,700 and detached homes down 1.2% to $1,403,800. In Toronto proper, prices fell 4.6% overall, with detached homes down 7.4% to $1,548,700 and condos down 5.6% to $644,700. The surplus inventory and lower borrowing rates are creating a buyer’s market, particularly for condos. Royal LePage forecasts a further 3% price decline in Q4, while Greater Montreal prices rose 4.9% and Greater Vancouver fell 3.1%.

• AI: An investor group including BlackRock, Microsoft, and Nvidia is acquiring Aligned Data Centers for US$40 billion from Macquarie Asset Management. Aligned operates nearly 80 data centers with over 5 GW capacity across 50 campuses in the U.S. and Latin America. The AI Infrastructure Partnership behind the deal plans to deploy up to $100 billion in capital, initially $30 billion in equity. This move follows an estimated $400 billion in AI infrastructure spending by major tech firms in 2025.

• Cenovus: Smead Capital Management is urging the Alberta Securities Commission to investigate Cenovus Energy Inc.’s $8.6 B sweetened takeover offer for MEG Energy Corp.. The firm, which owns 0.5 % of MEG, alleges Cenovus’ ability to buy up to 9.9 % of MEG shares before closing “stuffs the proxy ballot box,” undermining fair bidding. Strathcona Resources Ltd., with a $29.67 all-stock bid, withdrew two days after the revised offer. Proxy advisor Institutional Shareholder Services upgraded its view, citing improved value and fairness.

The Yukon’s $82 Million Gold Hole Everyone’s Talking About

The stock market and stuff

• Stellantis Draws Backlash For Prioritizing US Investment Despite $15B Canadian Subsidy (theDeepDive)

• Allied Gold Reports Prelim Q3 AISC Margins Of $1,350 An Ounce (theDeepDive)

• BHP Considers Reopening US Copper Mines After Trump Meeting (theDeepDive)

• BHP Adopts Renminbi To Settle China Spot Iron Ore Sales (theDeepDive)

• Paladin Energy Rallies On Record Output As Sales Fall 25% In Q1 FY2026 (theDeepDive)

In the juniors

• Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita (theDeepDive)

• Steadright Secures Two Additional Exploration Licenses For Flagship Project (theDeepDive)

• Aya Gold Reports Q3 Production Of 1.35 Million Ounces Of Silver (theDeepDive)

• Silver47 Hits 640 g/t Silver Equivalent Over 6.9 Metres At Red Mountain (theDeepDive)

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