🎉 Episode 6 of  The Market this Month is live - and we're seeing growing signs that capital markets are reopening as investors position for opportunities in the second half of 2026.

Powered by the Canadian Securities Exchange in partnership with Stockhouse, host Anna Serin is joined by Bruce Campbell of StoneCastle Investment Management to break down the latest trends shaping junior and small-cap markets.

💡 Spotlight topic: IPO momentum returns as capital markets reopen

A surge in IPO activity across Canada and the U.S., alongside continued financing strength, is signalling renewed investor confidence. As capital flows back into growth sectors, investors are watching for opportunities across technology, resources, and emerging small-cap companies.

📊 Also in this episode:
• IPO resurgence: Major new listings reflecting stronger risk appetite
• Technology markets: New growth companies returning to public markets
• Resource sector strength: Financing momentum continuing beyond PDAC
• Inflation & rates: Driving shifts across commodities and sectors
• Small caps: Earnings growth supporting continued outperformance
• Market outlook: Sector rotation opportunities emerging into summer

💬 “The risk appetite and interest in new companies has really evolved here.” — Bruce Campbell

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🎙️ Our latest CSE Podcast episode is live - examining the outlook for gold, junior mining stocks, and what could be the next phase of the current commodities bull market.

Host Anna Serin sits down with veteran resource investor and publisher Jeff Clark of The Gold Advisor to discuss why he believes the current gold market is closely tracking the powerful bull market of the 1970s - and what that could mean for investors moving forward.

💡 Spotlight topic: Is there a second half to the gold bull market?

Drawing on historical data, market trends, and decades of sector experience, Jeff explains why he believes precious metals and mining equities still have significant upside potential. He also shares his views on financing activity, M&A opportunities, permitting reforms, and the jurisdictions he believes offer the best opportunities for investors.

📊 In this episode, we cover:
• Why Jeff believes the current gold market is mirroring the 1970s bull market
• The outlook for gold, silver, copper, and uranium
• How strong financings, increased exploration, and rising M&A activity could shape the next phase of the cycle

💬 “I believe there is a second half to this bull market, and the second half is typically bigger than the first half.” — Jeff Clark, The Gold Advisor

With exploration programs underway, financings remaining strong, and merger activity expected to increase, this conversation offers valuable insight into the opportunities emerging across the resource sector.

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🎙️ Our latest CSE Podcast episode is live - and this one tackles a major policy shift with real implications for Canadian public companies.

Host James Black sits down with Bryan Watson, Managing Director at CleanTech North, to break down recent changes under the Budget Implementation Act (C15) - and what they mean for innovation funding in Canada.

💡 Spotlight topic: Unlocking SR&ED tax credits for public companies

For decades, refundable SR&ED tax credits have primarily benefited private companies - but new legislation changes that. Public companies can now access the same non-dilutive funding mechanisms, creating meaningful runway for innovation across sectors.

⏱️ Timestamps:
00:00 Introduction & overview of C15
02:00 What changed in SR&ED eligibility
03:50 Why this matters for public companies
05:15 Non-dilutive funding & runway benefits
06:25 $6M expenditure threshold explained
07:20 What qualifies as SR&ED activity
09:50 Industries that can benefit (tech, mining, biotech)
13:30 Eligible expenses: salaries vs. capital
14:55 Financing SR&ED receivables
19:05 Documentation & audit considerations
23:10 Final thoughts & key takeaways

💬 “Why should we penalize companies based on their source of capital?” - Bryan Watson

With billions allocated annually and new accessibility for public issuers, this shift has the potential to reshape how Canadian innovation is funded - particularly in tech, biotech, and resource development.

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🎙️ Our latest CSE Podcast episode is live - recorded on the ground at PDAC 2026 in Toronto, where we sit down with Richard Carleton, CEO of the Canadian Securities Exchange, and Max Cunningham, CEO of the National Stock Exchange of Australia.

💡 Spotlight topic: Why Canadian issuers are looking to Australia for capital
Following CSE’s acquisition of the NSX in late 2025, momentum is building — with increasing interest from Canadian and international companies seeking new pathways to capital through dual listings and expanded investor access.

📊 In this episode, we cover:
 • The growing appeal of Australia’s deep capital pools, driven by its superannuation system
 • How dual listings can unlock valuation arbitrage and new funding opportunities
 • Progress on harmonizing Canadian and Australian regulatory frameworks
 • Why inbound issuer interest is accelerating — particularly in mining and emerging asset classes
 • The broader outlook for junior markets amid strong commodity fundamentals

💬 “It gives companies optionality to raise additional capital… and that’s what’s driving the interest.” — Max Cunningham, CEO of NSX

With strong macro tailwinds and increasing global connectivity between markets, this conversation highlights a compelling new chapter in cross-border capital formation.

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🎙️ Our latest CSE Podcast episode is live - exploring how institutional infrastructure is shaping the future of digital assets in Canada.

Host Dimitri Giller sits down with Didier Lavallee, CEO of Tetra Digital Group, to discuss how regulated custody, infrastructure, and stablecoins are helping bring digital assets into the mainstream financial system.

💡 Spotlight topic: What infrastructure is required for institutional adoption of digital assets?

Born out of the lessons of the QuadrigaCX collapse, Tetra set out to build a regulated, Canadian-based digital asset custodian. Today, the company operates Tetra Trust, develops institutional infrastructure through its Unity software platform, and is preparing to launch a Canadian dollar stablecoin with partners including Wealthsimple, Purpose, National Bank, and Shopify.

📊 In this episode, we cover:
• Why regulated digital asset custody is critical for institutional adoption
• How the Unity platform helps institutions manage complex crypto infrastructure
• The growing demand from banks and fintechs entering digital assets
• The potential role of a Canadian dollar stablecoin in payments and settlement
• Why regulatory clarity will shape the future of tokenized assets

💬 “In the perfect product, the consumer won’t even know they’re interacting with a tokenized asset - it will simply be faster, cheaper, and more efficient.” - Didier Lavallee, CEO of Tetra Digital Group

As institutional interest in digital assets accelerates, infrastructure providers like Tetra are helping bridge the gap between traditional finance and the emerging blockchain economy.

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🎉 Episode 4 of The Market This Month is live - and we’re navigating a volatile but opportunity-rich environment as Q2 2026 unfolds.

Powered by the Canadian Securities Exchange in partnership with Stockhouse, host Anna Serin is joined by Bruce Campbell of StoneCastle Investment Management to break down the latest trends shaping junior and small-cap markets.

💡 Spotlight topic: Geopolitics driving volatility - and resilience
Market swings tied to Middle East tensions sparked a sharp risk-off move - but just as quickly, markets rebounded, reinforcing underlying strength and investor confidence in the current cycle.

📊 Also in this episode:
• Commodities divergence: Oil surging while metals pull back
• Energy opportunity: Strength moving from large caps down to juniors
• Canada vs. U.S.: Canadian small- and mid-caps taking the lead
• Capital formation: Strong, often oversubscribed financings across sectors
• Market momentum: New CSE listings across mining and technology
• Seasonality watch: Spring correction creating potential summer upside

💬 “There’s tons of opportunity for investors—both in energy and materials—as these trends continue to play out.” — Bruce Campbell

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🎙️ Our latest CSE Podcast episode is live — and this one marks an exciting new chapter in our global expansion story.

Host Anna Serin, Director of Listings Development at the Canadian Securities Exchange, sits down with Eduardo Carmona of the National Stock Exchange of Australia to discuss the opportunities now available to Canadian issuers following CSE’s acquisition of the NSX.

💡 Spotlight topic: How can Canadian issuers access Australian capital markets?

From the NSX’s origins dating back to the 1800s Gold Rush era, to its evolution into a modern, venture-focused exchange, Eduardo outlines why Australia represents a compelling new pathway for growth companies — particularly in mining, tech, life sciences, and emerging crypto listings.

📊 In this episode, we cover:
• Why Australia’s “superannuation” pension system creates a powerful domestic capital base
• The dual-listing fast-track pathway for CSE and TSX issuers
• Key listing requirements
• Planning considerations for capital raises and blackout periods
• How 43-101 technical reports align with Australia’s JORC framework

💬 “Having options can be quite powerful.” — Eduardo Carmona

With growing interest from CSE, TSXV, and TSX issuers — and a clear mandate to build a true venture market in Australia — this conversation offers practical insight for companies considering a dual listing or expanding their investor base globally.

As we look ahead to PDAC and beyond, the Canada–Australia capital markets connection is only getting stronger.

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🎉 Episode 3 of The Market This Month is live — and we’re navigating a more volatile, selective market environment as 2026 unfolds.

Powered by the Canadian Securities Exchange in partnership with Stockhouse, host Anna Serin is joined by Bruce Campbell of StoneCastle Investment Management to break down the latest trends shaping junior and small-cap markets.

💡 Spotlight topic: Oil volatility and energy stock strength
A sharp, geopolitically driven spike in oil is creating ripple effects across the energy sector—while equities continue to show resilience and potential upside.

📊 Also in this episode:
• Metals vs. equities: Stable prices, but mining stocks pulling back
• Capital flows: Strong financings and momentum post-PDAC
• Macro watch: Early warning signals turning more cautious
• Seasonality: Entering a historically stronger period for markets
• CSE activity: New listings and notable financings, including MAX Power

💬 “Even if oil pulls back, energy stocks have shown strength—suggesting a tailwind from multiple angles.” — Bruce Campbell

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🎙️ Our latest CSE Podcast episode is live — recorded during the Vancouver Resource Investment Conference (VRIC) as momentum builds across the gold sector heading into PDAC 2026.

Host James Black sits down with Adrian Day, Chairman & CEO of Adrian Day Asset Management, for a wide-ranging discussion on gold, market sentiment, and how investors should be thinking about positioning at this stage of the cycle.

💡 Spotlight topic: Are we anywhere near a top in gold?

Adrian shares why, despite stronger conference traffic and upbeat sentiment, he believes the gold cycle is far from peaking. From central bank diversification and sovereign debt concerns to the emerging impact of gold-backed stablecoins, the structural drivers behind gold remain firmly in place.

📊 In this episode, we cover:
• The role of central bank buying and global debt dynamics in supporting gold
• Tether’s gold-backed stablecoin — and what new demand sources could mean for bullion
• ETF flows (GDX, GLD) and why persistent outflows suggest we’re far from mania
• How to think about exposure across the spectrum: major producers, royalty companies, developers, and juniors
• Why management quality and balance sheet strength matter most in the exploration space

💬 “You don’t get a top in gold without overwhelmingly bullish sentiment… and we’re simply not there.” — Adrian Day

Whether you’re an investor, issuer, or market participant preparing for PDAC, this episode offers practical insight into how seasoned capital allocators are viewing gold in 2026 — and how to navigate both volatility and opportunity in the resource sector.

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🎉 Episode 2 of The Market This Month is live — and 2026 momentum is building.
Powered by the Canadian Securities Exchange in partnership with Stockhouse, host Anna Serin is joined by co-host Bruce Campbell of StoneCastle Investment Management.

💡 Spotlight topic: Volatility, rotation, and the next phase of the commodity cycle
Anna and Bruce break down rising gold and silver volatility, sector rotation across the market, and why capital is increasingly flowing beyond mega-caps into small and mid-cap opportunities.

📊 Also in this episode:
• Precious metals volatility: what rising gold and silver VIX levels signal for investors
• Commodity cycle outlook: the case for a multi-year structural uptrend
• Market rotation: leadership broadening into energy, industrials, regional banks, and transportation
• Capital formation: a strong start to 2026 with oversubscribed financings and global participation
• CSE activity: new listings spanning exploration, metals, and AI-focused technology

Issuer financing highlights:
• Kuya Silver Corporation completed a ~$25M financing to expand operations at its Bethania Silver Mine.
• Pacifica Silver Corp closed financings totaling $23M+ to advance its flagship silver project in Mexico.

💬 Plus: Why volatility in price does not necessarily signal weakening conviction — and how earnings season and upcoming resource conferences like PDAC could shape the next leg of 2026.

#AlwaysInvested

#MarketThisMonth #CSE #Stockhouse #SmallCap #JuniorMarkets #Commodities #Mining #Gold #Silver #Energy #CapitalMarkets #Canada

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