Altius agrees to buy TNR Gold, adding Argentine copper and lithium royalties

Updated Nov 13, 2026 4:57pm ET

Markets: The S&P/TSX Composite closed at 36,105.90, down 31.29 points or 0.09%, and largely sidestepped the drop in AI-linked stocks. The S&P 500 closed at 7,561.67, down 30.73 points or 0.40%, and the Nasdaq Composite at 25,136.27, down 229.82 points or 0.91%. Statistics Canada reported that September manufacturing sales were essentially unchanged at $80.2 billion. Wholesale sales excluding petroleum and grain rose 0.7% to $92.5 billion. Economists expect Canadian inflation to stay elevated after the October CPI report, though they are divided on whether energy costs will feed broader price increases. In late-afternoon trading, oil was at US$88.88, up 0.16%, gold at US$3,877.2, down 0.21%, silver at US$48.490, down 3.15%, and the Canadian dollar at US$0.70063, down 0.11%. The S&P/TSX Venture Composite closed at 798.71, down 4.07, and the CSE Composite at 128.72, down 1.71.

TNR Gold: Altius Minerals agreed to acquire TNR Gold, widening its copper and lithium exposure in Argentina. The purchase brings royalties on McEwen Copper's Los Azules project and on Ganfeng Lithium's Mariana operation, which is already producing. Altius is listed on the TSX, while TNR trades on the TSXV.

Woodfibre LNG: Ottawa is putting $200 million into Woodfibre LNG over three years, with Energy Minister Tim Hodgson saying the money will help diversify Canada's energy exports. The project is at Squamish, B.C., and the funding is aimed at adding capacity while the owners weigh a possible second phase.

H&R REIT: H&R REIT ended its planned sale to GO Residential REIT and a group of other buyers once unitholders rejected the transaction. GO Residential then filed a Statement of Claim in the Ontario Superior Court of Justice against H&R and others. H&R's trustee said the trust will start CEO succession planning and pay monthly dividends retroactively.

Oil market: The International Energy Agency said the world oil market is heading back to surplus in the fourth quarter, with Gulf exports recovering faster than consumption even as attacks on shipping continue. Output beat consumption in October by almost 2m barrels daily, the first such gap since the war involving Iran began. The agency forecasts global demand falling 2.7 million bpd this year, then rebounding by 2 million bpd in 2027.

Aris Mining: Aris Mining's prefeasibility study for Toroparu in Guyana values the project at US$2.8 billion after tax, against US$1.8 billion in the earlier preliminary economic assessment, using a 5% discount rate. The estimated construction cost rose 36% to $1.1 billion (C$1.6 billion). Aris is listed on the TSX and NYSE.

DPM Metals: DPM Metals posted the leading copper result in a drill ranking, with 1.20% copper over 1,054 metres starting at 1,172 metres depth at Brevene Porphyry South. The ranking placed the interval at the top of the copper results. DPM is listed on both the TSX and the ASX.

Aya Gold & Silver: Zgounder in Morocco produced the best silver result in a drill ranking, a shallow high-grade intercept reported by Aya Gold & Silver from its mine there. The ranking put Aya ahead of other silver drillers in the latest results. Aya's shares are listed on both the TSX and Nasdaq.

WELLSTAR Technologies: In its debut quarter as a public company, WELLSTAR Technologies topped revenue and earnings expectations, according to Haywood Securities analyst Gianluca Tucci. He said the result strengthened his outlook on the Canadian healthcare technology provider, which trades on the TSXV.

Market data

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

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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.