HEADLINES
Energy Fuels Advances U.S. Rare Earth Push With First Terbium Oxide Output
Energy Fuels has produced its first kilogram of terbium oxide, a rare-earth material, at its Utah facility.
The rare-earth oxide was produced at Energy Fuels' White Mesa Mill from ore mined in Florida and Georgia, and demonstrates the ability to provide a secure western source of the oxide material, the critical-minerals company said.
Terbium oxide is used mainly for green phosphors in lighting and displays, strengthening high-performance magnets, electroluminescent devices, specialty ceramics, optical materials as well as some medical imaging applications.
Bank of Canada Says Computer-System Breakdown Resolved
The Bank of Canada said it has resolved an issue with its computer systems, and will proceed with its regular schedule for market operations.
The central bank issued a notice after the close of markets on Tuesday warning market participants that a planned auction was being delayed due to the technology breakdown, and that it was possible other market operations could be affected. A spokesman said Tuesday that the computer issue was not related to a cyberattack.
Following the fix, the central bank will conduct an auction of excess cash reserves as originally planned.
Corus Cleared to Proceed With Debt Rescue Plan
Corus Entertainment has secured court approval to move ahead with its planned recapitalization as it looks to restructure and reduce its heavy debt burden.
The embattled Canadian media company received an order from the Ontario Superior Court of Justice to proceed with its recapitalization transaction, it said late Tuesday.
Corus has been facing a drawn-out decline in-step with collapsing TV revenues and burdened by a crippling debt load it could no longer support. Years of cord-cutting gutted its subscriber fees, weakening incoming advertising dollars, all made worse by streaming giants which pulled audiences away.
At the same time, Corus has carried heavy debt loads from past expansion, leaving it financially exposed as cash flows dwindled.
SSR Mining Signs Definitive Agreement to Sell Copler Mine in Turkey for $1.5 Billion
SSR Mining said it has signed a definitive agreement to sell its majority stake in the Copler mine in Turkey for $1.5 billion.
The stock climbed 7.1% to settle at C$36.01.
The agreement follows a memorandum of understanding signed with Cengiz Holding, a major Turkish conglomerate spanning the construction, energy and mining sectors, earlier in March.
SSR Mining plans to reinvest the proceeds in the business, it said, including funding capital returns and support its growth initiatives. The transaction excludes the company's interest in the Hod Maden project, a major copper and gold development project in the northeastern part of the country.
The transaction, which still requires various regulatory approvals, is expected to close in the third quarter of this year.
Boralex Agrees to C$3.8 Billion Takeover by Brookfield and Caisse de Depot
Brookfield Asset Management and Caisse de Depot et Placement du Quebec are teaming up to buy Boralex in a deal worth about C$3.8 billion that aims to accelerate the Canadian renewable energy company's growth as a private company.
Boralex's shareholders will receive C$37.25 a share in cash, which marks a 32% premium to the closing price last Friday, before media reports came out suggesting a possible transaction. The company on Monday said it had formed a special committee to review and recommend strategic alternatives.
Quebec pension fund Caisse, Boralex's largest shareholder with a roughly 15% stake, will double its interest in the company, and Brookfield through its flagship infrastructure strategy will buy the remaining 70% of Boralex.
Draganfly Shares Fall on Widened 2025 Loss, Revenue Miss
Draganfly widened its loss in 2025 and posted revenue below Wall Street expectations.
Shares sank 20.8% to end at C$6.91.
The drone company reported a full-year loss of C$23 million, or C$1.46 a share. That compares with a 2024 loss of C$13.9 million, or C$4.40 a share, in 2024.
Analysts polled by FactSet were expecting a loss of C$1.33 for the year.
Full-year revenue rose 18% to C$7.7 million. Revenue during the fourth quarter rose to C$1.9 million from C$1.6 million a year earlier.
Analysts were expecting fourth-quarter revenue of C$2.9 million and full-year revenue of C$9.1 million.
EQB Appoints Anilisa Sainani as Chief Financial Officer
EQB has appointed Anilisa Sainani to the role of chief financial officer.
Sainani joined the Canadian digital-first bank and financial services company in 2025 after nearly a decade of progressively senior roles at Royal Bank of Canada, EQB said.
Most recently, she served as chief operating officer, CFO Group, and previously as global chief accountant.
Sainani's new role expands her mandate to include leadership of the treasury function, EQB said Wednesday.
Rockpoint Gas Storage Gets Approval for Share-Buyback Program
Rockpoint Gas Storage launched a buyback program for the equivalent of up to 10% of the public float of its shares.
The North American operator of natural-gas storage facilities said Wednesday the Toronto Stock Exchange accepted its plans to begin a normal course issuer bid, under which it can buy up to 5.3 million of its class A shares over a 12-month period beginning Friday.
Shares can be purchased through the facilities of the Toronto exchange or other alternative trading systems in Canada.
TALKING POINT
The World Is Panicked Over Oil. Canada See Opportunity.
By Patti Domm for Barron's
Canada is jumping on an unexpected opportunity presented by the war in Iran to gain more market share in global energy markets.
"With Iran closing the Strait of Hormuz, it has truly never been clearer that oil and gas from reliable producers like Canada is what our allies need," Canadian Minister of Energy and Natural Resources Tim Hodgson said Monday. Hodgson was speaking at S&P Global's annual energy conference in Houston and was flanked by Canadian government officials and industry executives.
The vast majority of Canada's energy exports head to the U.S. But in recent years, Canada has also been sending shipments of liquefied natural gas and oil to Asian countries, including China.
Jackie Forrest, executive director at Arc Energy Institute, told Barron's at the energy conference that there is a "good chance" Canadian LNG companies will score long-term contracts this year with new customers.
"I think they are doable and that gets done, especially in light of the shortage of LNG," she said of the contracts.
Asian countries, which sourced majority of their energy from the Middle East before the war, could be prime buyers now that the Strait of Hormuz is effectively closed and critical LNG facilities in the Middle East are damaged.
Canada is geographically advantaged to sell to Asia. Ships from the U.S. must pass through the Panama Canals. Ships departing Canada's west coast can reach Asia's east coast, without obstructions, in less time.
Canada first started shipping LNG to Asia last summer as part of a national LNG project to develop the country's export facilities. By 2030, the Canadian industry is expected to have 6.1 billion cubic feet a day of LNG export capacity. Canadian Prime Minister Mark Carney aims to double that by 2040.
Canada has also been working to boost its oil exports over the past year. The infrastructure buildout needed to do that at scale, however, will take time.
The Carney government and Alberta are currently working out the details required to begin the application process for a pipeline that would take at least 1 million barrels of crude a day from the oil sands in Alberta to the west coast for export. That application is expected to be submitted summer.
Alberta Minister of Energy and Mines Brian Jean said at the conference that Canada is having "good discussions with Asia and different jurisdictions" about funding the pipelines. If and when they materialize, Canadian oil production and exports will increase.
"By 2030, we are probably going to be around 6 or 6.1 million barrels" in daily oil production, Jean said. He projected production could reach 8 million barrels a day by 2035.
Most of Canada's crude oil comes from the oil sands, an unconventional but vast energy source. To produce oil there, the industry separates heavy oil, or bitumen, from the sands through an underground process that uses steam.
In a high oil price environment like the present, companies producing from oil sands stand to benefit more than their rivals. That is because the break-even production cost for oil from the sands is relatively low, around $30 to $40 per barrel, according to Enverus senior energy analyst Michael Berger.
The stocks of Canadian oil sands producers, including Imperial Oil, Canadian Natural Resources, Cenovus, and Suncor have shot up 1o% or more since the war started. They were already outperforming the S&P Energy Sector, a widely watched U.S. energy stock index, before the Iran war. The State Street Energy Select SPDR ETF, which is based on that index, is up 36% so far this year, while the Canadian sands companies are all up 45% or more.
Global energy companies that bet on the Canadian energy sector early stand to benefit. ConocoPhillips is heavily invested in Canadian oil sands. Shell was an investor in the Phase I LNG project and is likely to invest in the next phase.
"It was a long, long-running investment thing that started over a decade ago," Shell CEO Wael Sawan said at the conference. "But the thesis of it played to, unfortunately, what is happening at the moment, which is you need diversity of supply."
Write to [editors@barrons.com]
Expected Major Events for Thursday
00:01/UK: BRC Consumer Sentiment Monitor
00:01/UK: Mar CBI Growth Indicator and Service Sector Survey
07:00/GER: Apr GfK consumer climate survey
07:45/FRA: Mar Monthly business survey (goods-producing industries)
07:45/FRA: Mar Consumer confidence survey
09:00/ITA: Mar Consumer Confidence Survey
09:00/ITA: Mar Business Confidence Survey
09:30/UK: Feb Capital issuance statistics
12:30/CAN: Jan Payroll employment, earnings and hours, and job vacancies
12:30/US: 03/21 Unemployment Insurance Weekly Claims Report - Initial Claims
12:30/US: U.S. Weekly Export Sales
13:00/RUS: Weekly International Reserves
14:30/US: 03/20 EIA Weekly Natural Gas Storage Report
15:00/US: Mar Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
20:30/US: Foreign Central Bank Holdings
20:30/US: Federal Discount Window Borrowings
23:50/JPN: Mar Provisional Trade Statistics for 1st 10 days of Month
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Thursday
AIM ImmunoTech Inc $(AIM)$ is expected to report for 4Q.
Acumen Pharmaceuticals Inc $(ABOS)$ is expected to report $-0.43 for 4Q.
Applied Energetics Inc (AERG) is expected to report for 4Q.
BRP Inc (DOO.T,DOOO) is expected to report $2.03 for 4Q.
Beasley Broadcast Group Inc $(BBGI)$ is expected to report for 4Q.
Bio Green Med Solution Inc $(BGMS)$ is expected to report for 4Q.
Cadiz Inc $(CDZI)$ is expected to report for 4Q.
Celularity Inc $(CELU)$ is expected to report for 4Q.
Commercial Metals Co $(CMC)$ is expected to report $1.23 for 2Q.
Cumulus Media Inc (CMLS) is expected to report for 4Q.
Designer Brands Inc (DBI) is expected to report $-0.51 for 4Q.
Dynacor Group Inc (DNG.T) is expected to report for 4Q.
Dynatronics Corp (DYNT) is expected to report for 2Q.
GoHealth Inc (GOCO) is expected to report $-1.48 for 4Q.
Greenlane Holdings Inc $(GNLN)$ is expected to report for 4Q.
Gyrodyne LLC $(GYRO)$ is expected to report for 4Q.
HOOKIPA Pharma Inc (HOOK) is expected to report for 4Q.
Hyperion DeFi Inc $(HYPD)$ is expected to report for 4Q.
Jasper Therapeutics Inc (JSPR) is expected to report $-1.50 for 4Q.
Karman Holdings Inc $(KRMN)$ is expected to report for 4Q.
LENSAR Inc (LNSR) is expected to report $-0.07 for 4Q.
Lovesac Co $(LOVE)$ is expected to report $2.01 for 4Q.
Lucid Diagnostics Inc (LUCD) is expected to report $-0.10 for 4Q.
MeiraGTx Holdings PLC $(MGTX)$ is expected to report $-0.60 for 4Q.
Old Market Capital Corp (OMCC) is expected to report for 3Q.
Permian Basin Royalty Trust $(PBT)$ is expected to report for 4Q.
Petrotal Corp (TAL.T) is expected to report for 4Q.
Qualstar Corp (QBAK) is expected to report for 4Q.
Ravelin Properties REIT (RPR.UN.T) is expected to report for 4Q.
Rex American Resources Corp $(REX)$ is expected to report for 4Q.
Rockwell Medical Inc (RMTI) is expected to report $0.02 for 4Q.
Sensei Biotherapeutics Inc (SNSE) is expected to report for 4Q.
Shoe Carnival Inc (SCVL) is expected to report $0.92 for 4Q.
Sotherly Hotels Inc $(SOHO)$ is expected to report for 4Q.
Spectral Medical Inc (EDT.T) is expected to report for 4Q.
Sypris Solutions Inc (SYPR) is expected to report for 4Q.
TPI Composites Inc $(TPICQ)$ is expected to report $-1.52 for 4Q.
United-Guardian Inc $(UG)$ is expected to report for 4Q.
Urban One Inc - Class A (UONE,UONEK) is expected to report for 4Q.
Vantage Drilling Co $(VTGDF)$ is expected to report for 4Q.
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March 25, 2026 16:30 ET (20:30 GMT)
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