Sponsored by Emerita Resources

Who Really Funded Alberta's Separatist Campaign?

Alberta Land Consortium has risen to fourth place among organizations raising money for Alberta’s referendum campaign, but at least 83% of its reported contributions came from the group’s organizer, his relatives, or companies connected to them, according to corporate searches conducted by The Tyee.

Elections Alberta disclosures show the Calgary-based third-party advertiser raised $30,315. The Tyee traced at least $25,150 of that total to Robert Deer, members of his family, or corporations whose directors were connected to Deer.

Deer is listed by Elections Alberta as the consortium’s primary contact and chief financial officer.

You can read more on the matter here.

What’s going on?

• Carney Advances Airport Valuation Work Ahead of Investor Summit (theDeepDive)

• Trump's trade rep defends new tariffs on Canada (CBC)

• “Fat Trudeau”: Doug Ford’s Centrist Pivot Fuels Trudeau Comparison (theDeepDive)

• CMHC predicts weak housing market activity for rest of year in updated forecast (CTV)

• Trump Must Open His Books to the BBC, Florida Judge Rules (theDeepDive)

• Iran strikes on CIA facilities prompt questions about possible Russian role (Reuters)

• What Does Trump’s Family Get Out of the Saudi Nuclear Deal? (theDeepDive)

• The US has collected about $13bn of Venezuela’s oil money. Where is it? (FT)

• Trump Clears Saudi Nuclear Pact Without Enrichment Safeguards (theDeepDive)

What’s the latest?

• Crypto: The U.S. Senate’s updated Clarity Act would ban presidents and other federal officials from issuing or sponsoring cryptocurrencies and digital assets, with violations enforceable by the Department of Justice through fines of up to US$250,000 per day. The bill follows scrutiny of President Trump’s crypto ventures, but its passage remains uncertain as Democrats oppose giving the DOJ sole enforcement authority, while Senate leaders expect a vote within the next few weeks.

• Markets: Canada’s TSX rose 116 points to a record high of 35,485, outperforming mixed U.S. markets despite renewed U.S. tariff threats on generic drug imports. The Canadian dollar edged up to US$0.7098, while WTI crude jumped to US$86.83/barrel (+US$2.49) and gold surged to US$4,151.90/oz (+US$75.50).

• Trade War: The U.S. is negotiating separately with Canada and Mexico on CUSMA, raising concerns that concessions Mexico makes in its more advanced talks could become the benchmark for Canada. After imposing new 50% tariffs on some Canadian goods effective Aug. 19, the U.S. and Canada agreed to intensify negotiations, while Canada says it wants a good deal rather than a quick one and continues to push for the removal of steel and aluminum tariffs.

• Real Estate: CMHC expects Canada’s housing market to remain weak through the rest of 2026, with slow economic growth (0.7%), subdued home sales, declining home prices, and lower housing starts, before a gradual recovery in 2027–2028. The agency says Ontario and B.C. will continue to lag due to affordability and slower population growth, while Western Canada and Quebec should perform better, though U.S. trade tensions and the U.S.-Iran conflict remain key risks that could delay the recovery.

• Politics: President Donald Trump warned that the U.S. will bomb one Iranian bridge or power plant for every attack on a ship in the Strait of Hormuz, escalating tensions after the ceasefire collapsed, while Iran threatened retaliatory strikes against U.S.-linked infrastructure in the region. The confrontation pushed Brent crude above US$94/barrel (+3.7%) and WTI to about US$87/barrel (+3.5%), as fears of prolonged disruptions to the critical oil shipping route intensified.

Gold Cooled Off, But the Bull Market Isn’t Over

The stock market and stuff

• Mercedes Faces US Sales Ban over Chinese Ownership Stakes (theDeepDive)

• Airbus Acquires Stake In Canadian Drone Firm Landing Zones (theDeepDive)

• Hackers Turn BQ’s Blanchet X Account Into Crypto Scam Channel… Again? (theDeepDive)

• Google burned through nearly $6bn in cash last quarter as AI spending surged (FT)

• NovaGold to Consolidate Donlin Gold Project at US$4.2 Billion Equity Value (theDeepDive)

• Lundin Gold Targets Early 2027 Maiden Resource for Sandia After Two New Porphyry Discoveries (theDeepDive)

In the juniors

• Avino Sees Silver Equivalent Output Fall 17% as Copper Production Halves in Q2 (theDeepDive)

• Brixton Metals Hits 89,125 g/t Silver Sub-Interval in New Langis Discovery Area (theDeepDive)

• Vox Royalty Sues Lahontan Gold Subsidiaries Over Alleged Breach of 2018 Offtake Agreement (theDeepDive)

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