Investing

1. Samsung and Tesla strike deal

Tesla (NASDAQ:TSLA) CEO Elon Musk announced a US$16.5 billion deal with Samsung Electronics (HKEX:2814) that would see the electronics conglomerate produce AI6 semiconductors for the carmaker until 2033.

Production will take place at Samsung’s new fab in Taylor, Texas. The news led to a 6.8 percent rise in Samsung’s shares on Monday (July 28), as well as a 1 percent increase for Tesla. Last week, the carmaker saw its share price decline after reporting a 12 percent drop in revenue, marking its biggest quarterly decline in over 10 years.

Musk called the deal’s strategic importance “hard to overstate’ in a post on X. “Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress. And the fab is conveniently located not far from my house,” Musk added in another post.

“The $16.5B number is just the bare minimum,” he also said. “Actual output is likely to be several times higher.”

2. Bell Canada and Cohere partner on sovereign AI

BCE (TSX:BCE,NYSE:BCE) and Canadian artificial intelligence (AI) company Cohere announced a partnership on Monday that will see them work together to provide AI services to Canadian companies and government agencies.

The deal is focused on sovereign AI, meaning all data will stay within Canada.

“At a critical time for Canada, we’re proud to partner with Cohere to create a sovereign, full-stack AI solution, custom-built to support the Canadian government and business. Working together, we will both transform Canadian businesses through cutting-edge AI capabilities, while ensuring that the data remains secure and within Canada,” said Mirko Bibic, president and CEO of BCE, previously known as Bell Canada Enterprises.

“Our partnership with Bell Canada will provide the Canadian government and enterprises with world-class options for sovereign, security-first AI,’ added Aidan Gomez, co-founder and CEO of privately owned Cohere.

This has the potential to be truly transformative for organizations looking to massively increase their productivity and efficiency without any compromise on data security and privacy.’

Under the terms of the deal, Bell will provide the physical infrastructure, including its national network and data centers. Meanwhile, Cohere will provide its powerful AI models to offer a secure, all-in-one AI solution. This helps Canadian organizations adopt new technology. It also ensures their sensitive information is kept safe at home.

3. Palo Alto Networks to acquire CyberArk

On Wednesday (July 30), Palo Alto Networks (NASDAQ:PANW) announced plans to acquire Israeli AI cybersecurity firm CyberArk Software. The Wall Street Journal had reported on Tuesday (July 29) that they were in talks.

Under the terms of the agreement, CyberArk shareholders will receive US$45 cash and 2.2005 shares of Palo Alto per share of CyberArk. Palo Alto expects the transaction to be immediately accretive to its revenue growth and gross margin, and accretive to free cash flow per share in fiscal year 2028.

In a press release announcing the acquisition, Nikesh Arora, chairman and CEO of Palo Alto, said:

“Our market entry strategy has always been to enter categories at their inflection point, and we believe that moment for Identity Security is now. This strategy has guided our evolution from a next-gen firewall company into a multi-platform cybersecurity leader. Today, the rise of AI and the explosion of machine identities have made it clear that the future of security must be built on the vision that every identity requires the right level of privilege controls, not the ‘IAM fallacy’. CyberArk is the definitive leader in Identity Security with durable, foundational technology that is essential for securing the AI era. Together, we will define the next chapter of cybersecurity.”

Udi Mokady, founder and executive chairman of CyberArk, called the news a ‘profound moment in CyberArk’s journey,’ saying that they combination will accelerate the mission it began more than two decades ago.

Palo Alto Networks performance, July 29 to August 1, 2025.

Chart via Google Finance.

The deal is expected to close in the second half of Palo Alto’s 2026 fiscal year, subject to regulatory and CyberArk shareholder approval. Although Palo Alto hit a high of US$210.39 on Tuesday, shares of the company declined by 5 percent following the announcement and closed 17.83 percent below Tuesday’s high.

4. Microsoft, Meta, Amazon and Apple report quarterly results

Microsoft (NASDAQ:MSFT) ended its fourth fiscal quarter of 2025 with record revenue, driven by strong AI and cloud service growth. Microsoft Cloud revenue exceeded US$168 billion, a 23 percent increase, and Intelligent Cloud, including Azure, grew 26 percent to US$29.9 billion, with Azure up 39 percent. Although significant AI investments (over 100 million monthly Copilot users) caused a slight gross margin dip, the firm’s operating income rose 23 percent.

CEO Satya Nadella expressed confidence in long-term growth. For her part, CFO Amy Hood noted that commercial bookings surpassed US$100 billion; she anticipates double-digit revenue and operating income growth in the 2026 fiscal year, though data center capacity may remain constrained through the first half of the period.

Meta Platforms (NASDAQ:META) also had a positive Q2, with revenue up 22 percent to US$47.52 billion and net income up 36 percent to US$18.34 billion. Earnings per share rose 38 percent to US$7.14.

CEO Mark Zuckerberg highlighted the company’s focus on “personal superintelligence.”

The Family of Apps saw daily active people increase 6 percent to 3.48 billion, and advertising revenue grew with impressions up 11 percent and average price per ad up 9 percent.

Q3 revenue is projected to be US$47.5 billion to US$50.5 billion. However, regulatory challenges in the EU could impact European revenue. Meta is also heavily investing in AI and infrastructure, with 2025 capital expenditures narrowed to US$66 billion to US$72 billion, and similar growth expected in 2026.

Microsoft, Apple, Meta Platforms and Amazon performance, July 29 to August 1, 2025. 

Chart via Google Finance.

Amazon (NASDAQ:AMZN) delivered a strong second quarter, with overall net sales growing 13 percent year-on-year to $167.7 billion. The company’s net income also saw a significant increase, rising 35 percent year-on-year to $18.16 billion.

The growth was fueled by strong performance across all three of its major segments. The North America segment, which accounted for 60 percent of total net sales, saw a revenue increase of 11 percent year-on-year to $100.07 billion.

The International segment saw its net sales grow by 16 percent year-on-year to $36.76 billion, with a particularly notable 448 percent increase in operating income. Amazon Web Services continued its steady performance, with net sales reaching $30.87 billion, up 17 percent year-on-year. Despite its strong revenue growth, the company’s trailing 12 month free cashflow declined by 66 percent year-on-year to $18.18 billion.

Finally, Apple (NASDAQ:AAPL) posted strong results for its third fiscal quarter of 2025, with total net sales increasing to US$94.04 billion, up from US$85.78 billion in the same quarter last year.

The company’s net income rose to US$23.43 billion, an increase from US$21.45 billion year-on-year. This performance translated to earnings per share of US$1.57, up from US$1.40 in the prior year. The growth was primarily driven by its products and services, with the iPhone and Mac categories seeing notable increases in net sales. Apple’s services segment also continued its expansion, with sales rising to US$27.42 billion from US$24.21 billion a year ago.

5. Figma makes public debut

Figma’s highly anticipated initial public offering (IPO) generated significant buzz this week, with its share price and valuation surging dramatically on its first day of trading.

On Monday, Figma increased its IPO price range to US$30 to US$32 a share, up from US$25 to US$28. This new pricing valued the company at up to a US$18.7 billion market cap and a US$17.2 billion enterprise value. According to Bloomberg, people familiar with the matter indicated that the IPO was approaching 40 times oversubscribed.

The company had its first day of trading on the NYSE on Thursday (July 31).

Figma’s shares surged by 250 percent from US$33 to US$115 following a blockbuster IPO, with the company raising US$1.22 billion. Its market cap reached US$67 billion by the end of the market’s close. On Friday, Figma opened at US$134.82 before pulling back alongside other major tech stocks and risk assets to finish the week at US$122. Its debut surge and end-of-day valuation made it one of the largest and most successful tech IPOs in recent memory.

Lithium prices down, but demand remains resilient

Lithium prices have come off their historic highs of 2021–2022, when a global EV boom and constrained supply sent costs soaring above US$70 per kilogram.

But that surge spurred rapid supply growth, and by late 2022, the market entered a surplus. Prices have since declined sharply and now sit near levels that are not considered economically viable for many new or greenfield projects.

Despite the pricing downturn, Sheorey emphasized that demand for lithium has not collapsed. During the company’s earnings call, he maintained that demand has held up better than expected this year, pointing to robust growth in China and Europe that is offsetting a more subdued US market.

“The outlook in North America is less certain, particularly in the United States due to the potential impact of tariffs and the removal of the 30D tax credit in September,” Sheorey said, adding that the US accounts for only about 10 percent of global electric vehicle sales.

In contrast, EV sales in China rose 41 percent year-to-date, including a 44 percent jump in battery electric vehicles spurred by recent subsidies, while Europe also showed double-digit growth.

Still, Sheorey cautioned that pricing remains under pressure. “We continue to expect the full-year EBITDA margin [for energy storage] to average in the mid-20 percent range assuming our $9 per kilogram price scenario,”

According to Albemarle’s internal analysis, the market could return to balance as early as next year if current price levels persist. “New project development has begun to slow, while demand continues to be robust,” the company said. It estimates that demand growth could outstrip supply growth by up to 10 percent per year between 2024 and 2030.

Much of the company’s current optimism stems from performance at its integrated production and processing facilities, particularly due to strong volumes from Albemarle’s Wodgina mine and the Salar yield improvement project.

With lithium demand expected to more than double by 2030, Albemarle is betting that its investments in operational excellence and global reach will pay off once the market stabilizes.

Markets and commodities react

In Canada, equity markets were negative this week as Canada was unable to secure a deal with the United States. Although it reached a new all-time high Wednesday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) ultimately declined 1.3 percent over the week to close at 27,020.43 on Friday. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell further, moving down 5.08 percent to 761.21. The CSE Composite Index (CSE:CSECOMP) was the lone gainer, rising 0.76 percent to 134.37.

US equity markets were broadly down on Friday on the new US tariffs and poor job data. The S&P 500 (INDEXSP:INX) fell 2.07 percent to 6,238.00, the Nasdaq 100 (INDEXNASDAQ:NDX) dropped 1.89 percent to 22,763.31 and the Dow Jones Industrial Average (INDEXDJX:.DJI) shed 2.61 percent to 43,588.57.

In precious metals, after falling mid-week, the gold price rebounded sharply on Friday, ultimately ending the week up 0.77 percent to US$3,362.94 by Friday at 4 p.m. EDT. Meanwhile, the silver price dropped dramatically during the week. While it also bounced Friday, it still fell 5.66 percent to US$37.01.

In base metals, copper prices plummeted 23.16 percent to US$4.48 per pound after President Trump announced refined copper exemptions to the 50 percent copper tariff earlier in the week. The S&P GSCI (INDEXSP:SPGSCI) was up mid-week but slumped on Friday, registering a 0.57 percent loss to finish the week at 545.59.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Helius Minerals (TSXV:HHH)

Weekly gain: 72.94 percent
Market cap: C$48.93 million
Share price: C$1.47

Helius Minerals is a precious metals exploration company with a portfolio of assets in Nevada and Brazil.

The company has spent the first part of the year fundraising in support of the acquisition of Colossus Minerals and its 75 percent stake in the Serra Pelada gold-platinum-palladium project in the Para state of Brazil.

In 2009, Colossus reported significant assay results following its early exploration of the site, with one drill hole returning 8.04 grams per metric ton (g/t) gold, 154.5 g/t platinum and 245.8 g/t palladium.

The company had already completed most of the construction for the underground mine in 2013 when its dewatering measures at the site failed to prevent water ingress in the mine. Colossus was not able to finance the work necessary to fix the issues and became insolvent, putting the mine on care and maintenance.

In 2023, Colossus’ former geologist Christian Grainger was named Helius President and CEO.

On May 8, Helius reported that Colossus shareholders approved the sale of the company and its assets. Under the terms of the deal, Helius said it has a 12 month exclusivity period to conduct financing and also to develop a plan that is compliant with local mining laws and regulations. It also stated that it will need to address outstanding debts and a rehabilitation strategy for the site.

Shares gained this week, but the company has not issued further news.

2. Labrador Gold (TSXV:LAB)

Weekly gain: 58.82 percent
Market cap: C$20.4 million
Share price: C$0.13

Labrador Gold is an explorer focused on the advancement of its assets in Newfoundland and Labrador, and Ontario, Canada.

The company owns the Hopedale gold project in Eastern Labrador. The site hosts 998 claims and five licenses covering an area of 249 square kilometers in the Florence Lake greenstone belt.

In an announcement on February 8, the company reported high-grade gold from 2023 rock samples at the Fire Ant target, with grades of up to 106 g/t gold and 20.4 g/t silver. Additional rock and soil samples from other targets at Hopedale show grades of up to 0.28 percent nickel, 0.97 percent zinc and 3,493 parts per million copper.

Labrador also owns the Borden Lake project near Timmins, Ontario. Exploration at the site has been limited, mainly consisting of till samples and geophysical surveys to target areas for drill testing.

In a news release on February 19, Labrador said it was planning to conduct exploration work at both properties in 2025. On June 19 the company announced that it had mobilized to the Hopedale property and would focus on an area along the Thurber Gold trend at the northern portion of the site. It did not provide an update on exploration at the Borden Lake.

The company has not released news in the past week.

3. Torq Resources (TSXV:TORQ)

Weekly gain: 52.94 percent
Market cap: C$21.37 million
Share price: C$0.13

Torq Resources is an exploration company working to advance its Santa Cecilia gold and copper project in Chile.

Torq acquired the property through an option agreement in October 2021. The company can earn a 100 percent stake in the property if it makes a total of US$25 million before October 21, 2028, and exploration expenditures of US$15.5 million by October 21, 2025.

The deal will also see the original owner retain a 3 percent net smelter return, half of which can be purchased by Torq based on the fair value of the project.

The site covers an area of 3,250 hectares and lies adjacent to the Newmont (TSX:NGT,NYSE:NEM) and Barrick Mining (TSX:ABX,NYSE:B) owned Norte Abierto project, the fourth largest undeveloped gold project in the world.

In late 2024, Torq entered into a joint venture with Gold Fields (NYSE:GFI), in which Gold Fields can earn up to a 75 percent indirect interest in the project through a US$48 million investment over six years, with minimum annual spending of US$6 million.

On July 17, Torq completed the first drill program at the project under the joint venture, The work consisted of five holes covering 4,062 meters and was designed to test the undrilled Gemelos Norte target and to follow up on the Pircas Norte target discovered during the 2024 drill campaign.

Torq’s most recent announcement came on July 31, when it terminated its option to acquire the Margarita project in Chile due to financial constraints and a shift in focus to Santa Cecilia. It also said it would retain its 100 percent interest in the La Cototuda concession, which is surrounded by Margarita and which it believes would be necessary for any future development at Margarita.

4. Happy Creek (TSXV:HPY)

Weekly gain: 41.18 percent
Market cap: C$18.45 million
Share price: C$0.12

Happy Creek Minerals is an explorer focused on advancing a portfolio of assets in British Columbia, Canada.

Its primary focus has been on its Fox tungsten property located in the South Caribou region of the province. It comprises 135.9 square kilometers of mineral tenure and hosts deposits containing tungsten, molybdenum, zinc, indium, gold and silver. In total, 21,125 meters of exploration drilling have been carried out at the site.

The most recent news came on July 16 when Happy Creek announced a non-brokered private placement to raise gross proceeds of up to C$3.25 million in flow-through units at C$0.07 per share and non-flow-through units at C$0.05 per share. The following day, Happy Creek upsized the offering to C$3.75 million.

The company plans to use the gross proceeds for drilling, exploration and development at Fox, as well as other exploration work in the Caribou.

5. Star Copper (TSXV:STCU)

Weekly gain: 38.78 percent
Market cap: C$58.81 million
Share price: C$2.04

Star Copper is an exploration company with a portfolio of assets in British Columbia.

Its flagship Star project, located in BC’s Golden Triangle, consists of 19 mineral claims covering an area of 6,829 hectares of crown lands. The property hosts five high-priority targets, which have seen exploration dating back to 2013.

The most recent exploration update from Star came on Tuesday, when the company provided a summary of its ongoing drill program at the site and said it was halfway through a six-hole, 4,000 meter drill campaign designed to test mineralized zones laterally and at depth.

The company has also been advancing work at its Indata property, where it holds a 60 percent optioned interest. The site in northern BC consists of 16 mineral claims across 3,189 hectares and hosts mineralization of copper, gold and molybdenum.

In a July 10 news release, the company reported that soil grids that were deployed to test for gold and copper have also returned clusters of anomalous antimony that exceed 100 parts per million over 5 kilometers.

Additionally, the company announced on July 16 that it had entered into an agreement to acquire a 100 percent interest in the Copperline property in North-central BC. The project consists of eight mineral claims covering 4,502 hectares and exploration at the site has produced a highlighted assay of 2.54 percent copper, 50.4 g/t silver over 25 meters.

FAQs for Canadian mining stocks

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$16,964, down by 0.5 percent over the last 24 hours. Its highest valuation on Wednesday was US$118,644, while its lowest valuation was US$116,079.

Bitcoin price performance, July 30, 2025.

Chart via TradingView.

Markets rallied briefly following the release of the White House’s crypto policy report, which calls for greater clarity from the US Securities and Exchange Commission, as well as new legislation to regulate digital assets.

A pullback came after the US Federal Reserve left interest rates unchanged and warned of slowing economic growth.

Ethereum (ETH) was priced at US$3,764.26, down by 0.1 percent over the past 24 hours. Its lowest valuation on Wednesday was US$3,708.13, and its highest was US$3,820.17.

Altcoin price update

• Solana (SOL) was priced at US$176.09, down by 2.9 percent over 24 hours. Its lowest valuation on Wednesday was US$173.22, and its highest was US$179.83.

• XRP was trading for US$3.10, down by 0.6 percent in the past 24 hours. Its lowest valuation of the day was US$3.04, and its highest valuation was US$3.15.

• Sui (SUI) is trading at US$3.77, down 1.3 percent over the past 24 hours. Its lowest valuation of the day was US$3.66, and its highest was US$3.81.

• Cardano (ADA) was trading at US$0.7600, down by 2.3 percent over 24 hours. Its lowest valuation on Wednesday was US$0.7414, and its highest was US$0.7759.

Today’s crypto news to know

Ethereum marks a decade since launch

Ethereum marked its 10th anniversary on Wednesday as corporate interest continues to grow.

The Ethereum network launched in 2015 and has since maintained uninterrupted uptime, becoming the backbone of the decentralized finance (DeFi) movement. In the lead up to the milestone, ETH approached US$4,000, driven in part by renewed institutional inflows and growing confidence in the asset’s long-term utility.

The Ethereum Foundation will commemorate the milestone by issuing celebratory non-fungible tokens and organizing more than 100 events globally. A live broadcast featuring Vitalik Buterin, Joseph Lubin and Tim Beiko will also be hosted to reflect on the network’s origins and future direction.

SEC greenlights in-kind ETP creations and redemptions

On Tuesday (July 29), the Securities and Exchange Commission (SEC) gave approval for in-kind creations and redemptions by authorized participants for crypto asset exchange-traded products (ETPs).

“It’s a new day at the SEC, and a key priority of my chairmanship is developing a fit-for-purpose regulatory framework for crypto asset markets,” said Chair Paul Atkins in the announcement.

“Investors will benefit from these approvals, as they will make these products less costly and more efficient.

“Today’s approvals continue to build a rational regulatory framework for crypto, leading to a deeper and more dynamic market, which will benefit all American investors. This decision aligns with the standard practices for similar ETPs.”

Authorized institutions can now directly exchange crypto assets like Bitcoin or Ethereum for shares of a crypto ETP, and vice versa, making these products more efficient and potentially cheaper to manage.

Lummis proposes bill to allow digital assets for mortgages

In a Tuesday notice, Wyoming Senator Cynthia Lummis introduced the 21st Century Mortgage Act, which could compel mortgage purchasers to consider digital assets in applications. Lummis said the legislation would initiate congressional action following a June order from the US Federal Housing Finance Agency mandating that US mortgage purchasers Fannie Mae and Freddie Mac “consider cryptocurrency as an asset for single-family loans.”

“This legislation embraces an innovative path to wealth-building, keeping in mind the growing number of young Americans who possess digital assets,” said Lummis.

A similar crypto mortgage proposal, the American Homeowner Crypto Modernization Act, was introduced by Republican Representative Nancy Mace on July 14. Mace’s proposed bill would mandate that mortgage lenders incorporate the value of a borrower’s digital assets held in cryptocurrency brokerage accounts into their mortgage credit evaluations.

The bill is one of three that the Senate may consider after a month-long recess, alongside a digital asset market structure bill and a bill aimed at barring the Federal Reserve from launching a central bank digital currency.

eToro expands 24/5 trading and tokenizes US stocks

eToro Group (NASDAQ: ETOR) announced plans to expand its current 24/5 trading for 100 popular US stocks and exchange-traded funds, meaning customers can now trade these assets five days a week, almost around the clock.

“We’re expanding a lot of the trading universe and trading hours on the eToro platform. Announced today, more 24-hour stock trading on the platform, as well as near 24/5 trading on exchange CME traded futures, a new type of futures product,” said co-founder and CEO Yoni Assia about the move on Tuesday. “That’s very exciting for our users worldwide. And very excited also about revamping tokenization in eToro, launching those 100 stocks that trade 24/5 on the eToro platform as tokenized assets, gradually available to people with the eToro crypto wallet.”

The company also launched tokenized versions of these same US stocks as ERC20 tokens on the Ethereum blockchain.

This will eventually enable true 24/7 trading and transfers, and is part of eToro’s strategy to tokenize all assets on their platform and integrate them into the broader decentralized finance world. The company is also rolling out spot-quoted futures with CME Group (NASDAQ:CME), a simpler futures product, currently in Europe, with plans for wider availability.

Trump working group calls for aggressive federal action on crypto markets

A White House-appointed working group on digital asset markets has released a sweeping set of recommendations to overhaul US crypto policy, according to a preview. The group, which was established under a January executive order from President Donald Trump, is urging Congress to pass the Digital Asset Market Clarity Act and calling on regulators to use existing powers to support immediate crypto market growth.

The report recommends that the Commodity Futures Trading Commission be granted broader oversight over spot markets for non-security tokens and that safe harbor provisions be used to accelerate product launches.

It also advises federal banking regulators to clarify permissible crypto-related bank activities and modernize capital rules to reflect token-based risks.The Trump administration said the proposals would help ensure US leadership in the “blockchain revolution” and usher in a “golden age of crypto.”

JPMorgan to let Chase customers buy crypto via Coinbase

JPMorgan Chase (NYSE:JPM) has announced a major partnership with Coinbase Global (NASDAQ:COIN) that will allow Chase credit card users to purchase cryptocurrencies directly from the exchange.

The service is expected to roll out in fall 2025, with full account-linking functionality available by 2026. Customers will also be able to redeem Chase credit card reward points for USDC, a stablecoin pegged to the US dollar.

The move marks a notable shift in the firm’s stance toward crypto, going from a cautious observer to an active participant in retail-focused blockchain infrastructure. With crypto’s total market cap recently crossing US$4 trillion, large banks are now racing to integrate digital asset capabilities into their core offerings.