Altius proposes to buy rest of TNR Gold amid proxy fight

Updated Oct 7, 2026 4:31pm ET
First published Oct 7, 2026 12:31pm ET

Markets

The S&P/TSX Composite closed down 607.65 points, or 1.70%, at 35,041.86, with losses in basic materials weighing on the index. Gold traded at US$4,132.8 in late-afternoon trading, down US$54.3, and silver at US$59.940 was also lower, while the Canadian dollar was at US$0.70118, down 0.38%. Industry Minister Mélanie Joly said Stelco's U.S. owner Cleveland-Cliffs cannot cite the trade war as grounds for job cuts, pointing to its earlier commitments. Fairfax Financial said it is partnering with Wittington Investments to acquire The Boots Group. On Wall Street, the S&P 500 closed down 0.22% at 7,801.77.

Venture & CSE

The S&P/TSX Venture Composite closed down 12.95 points, or 1.45%, at 877.17, and the CSE Composite closed down 1.01 points, or 0.66%, at 151.17. Altius Minerals made an unsolicited, non-binding proposal to buy the 87% of TNR Gold it does not own, while TNR is in a proxy fight. Altius holds about 12.7% of TNR's shares, and no price, form of consideration or timeline has been disclosed. On the drilling side, Vizsla Copper reported a 21.2-metre interval at 307.5 g/t AgEq from its Palmer project in Alaska. Goliath Resources reported a 12.00-metre interval grading 9.89 g/t AuEq from the Surebet Zone on its Golddigger property in the Golden Triangle of B.C. Gold and silver were both lower in late-afternoon trading.

Market data

Closing index levels; commodities and currencies are late-afternoon trading, not settlements.

Oct 7, 2026 4:30pm ET

TSX Venture most active

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Oct 7, 2026 4:24pm ET

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Written by AI based upon public market data and company news releases, and checked automatically before publishing. Company statements are reported as the companies made them. Not investment advice.