CHF WEEKLY ROUND-UP: December 16-20, 2024

It was the last full week of trading for the year, and Global Markets experienced a selloff. A correction was probably necessary to set the direction for the coming year. Stocks may be volatile until after Mr. Trump's inauguration and may settle down a bit as policy becomes clearer. Don’t pull back too much. Rather, look for opportunities where things get hit too hard.

The Canadian dollar (CAD) is down to USD$0.695 against the US Dollar (USD), near a twenty-two-year low, on uncertainty over Canada’s response to Trump's threatened tariffs. Canadian Markets performed poorly, with TSX down 4% this week, exacerbated by high political drama with a highly unpopular Prime Minister who has been around too long and refuses to leave. The selling has created some areas of value for those ready to step into the market. Stay invested but be careful.

The major U.S. markets were all down over 3% this week. There were indications that they were overbought and that a correction was coming. It’s not a bear market because there are too many bulls. The uncertainty of the possibility of a U.S. Government shutdown has reappeared as Congress seems unable to agree on a funding bill. The trend remains intact, but the gains for the coming year may not be at the levels of the last 2 years. On Wednesday the Fed cut its interest rate by 25bps and suggested that a slower pace of rate-cutting was in store for next year. Even though this was widely expected, the markets took it as a hawkish stance.

Weaker-than-expected U.S. inflation pressures are creating some lift in the gold market as prices continue to find support at around USD$2,617/oz this morning, following a drop to USD$2,585/oz on Wednesday. The case for gold remains strong, and there is no path back to USD$2,000. Silver is finding support between USD$29-30/oz. today. Selling has created opportunities for major and mid-sized producers, and many juniors are finding financing for work this winter. Look at the cashed-up opportunities.

The USD is near a high for the year, up 6.55%, and this is holding industrial metal prices down. Continuing political uncertainty in the largest EU economies and China's economic weakness while waiting for other stimulus programs continue to hold demand down. Copper is at USD$4.00/lb. today, lowest in four months. Nickel is at a new low for the year at USD$6.83lb. Critical minerals and battery minerals continue to struggle. Lithium is ending the week at USD$10.35/kg, while Cobalt has remained at an eight-year low of USD$11.02/lb. for the last four months. Even Uranium, in the face of huge potential demand, is below USD$75/lb. There is great value in the metals sector for those ready to move in. Positives include Nouveau Monde Graphite Inc., which received USD$50 million from two government entities to help fund a production facility for electric-vehicle battery materials in Quebec. Lundin Mining's sale of the Neves-Corvo (Portugal) and Zinkgruvan (Sweden) mines to Boliden secures a stable supply of zinc and copper concentrate for its smelters, while Lundin makes a strategic shift toward South America in the copper and precious metals sector. Despite its struggles with EVs, Volkswagen Group will spend USD$48.1 million on a 9.9% stake in lithium miner Patriot Battery Metals Inc. to secure raw materials for electric vehicles. There are believers, do not sit back too long.

It has been a productive week for our clients, and we are pleased to present to you our round-up of their news released between December 16-20, 2024.

This will be the final issue of Round-Up for 2024, we look forward to keeping you informed on our clients again next year.

 Best Wishes for a Happy Holiday and a healthy, prosperous New Year

Mining

On December 13, 2024, Falcon Gold Corp. (TSXV: FG) (GR: 3FA) (OTCQB: FGLDF) announced the termination of its drilling contract with "CentreLine Drilling" for its Great Burnt Copper-Gold Project in Central Newfoundland. The company has engaged a new drilling contractor better equipped to meet the operational and technical requirements of the project.

Due to significant delays the company had no choice but to terminate its contract with CentreLine. This decision comes as part of Falcon Gold's commitment to ensuring efficient and timely exploration activities while maintaining a high standard of operations.

Karim Rayani Chief Executive Officer states; "The delays and challenges we experienced necessitated a change. Our newly selected drilling contractor brings the expertise and reliability required to meet the project's demands and keep us on track with our exploration goals."

The Company has paused all operations and plans to resume after the Christmas break, we look forward to updating shareholders once operations have resumed.

On December 17, 2024, Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) announced that they have received conditional approval from the TSX Venture Exchange for its non-brokered flow-through and hard-dollar financing and will be closing the first tranche of the Financing for aggregate gross proceeds of CAD$1,421,250.

The Company will now issue 35,400,000 CAD$0.04 flow-through shares, with each flow-through common share of the Company entitling the holder to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada).

The Company is also issuing 150,000 CAD$0.035 non-flow-through common shares.

Final approval of the Financing is subject to Exchange approval. All securities issued pursuant to the Financing are subject to a four-month and one-day hold period.

The Company will use the gross proceeds received by the Company from the sale of the FT shares, to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" on or before December 31, 2025, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units effective December 31, 2024.

The Company intends to spend CAD$1,000,000 of the flow-through proceeds on the Moosehead gold property, the balance on Fleur de Lys and Crippleback Projects, and hard-dollar proceeds for working capital.

Proactive Interview: Athena Gold (CSE: ATHA) (OTCQB: AHNR) uncovers exceptional high-grade samples at Laird Lake Project in Red Lake gold district.

Fintech

On December 18, 2024, Tenet Fintech Group Inc. (CSE: PKK) (OTCQB: PKKFF) announced that it has closed a non-brokered private-placement financing by selling 1,900,000 with each unit priced at $0.10 for gross proceeds of $190,000 to "accredited investors" within the meaning of NI 45-106 - Prospectus Exemptions and under the applicable securities laws. The securities issued in connection with the Financing are subject to a hold period of four months and one day from the closing date of the Financing.

Each unit of the Financing is comprised of one common share of the Company and one Common Share purchase warrant. Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.20 for a period of 36 months from the date of issuance. After a period of 12 months from the date of their issuance, if at any time the price of the Common Shares closes at or above $0.30 for 10 consecutive trading days, the Expiry Date of the Warrants will be reduced to 30 days.  Any Warrants remaining unexercised after the Accelerated Expiry Date will be cancelled.

The Financing is the final tranche of a series of capital raises by Tenet to fund the commercialization of its upcoming ie-Pulse product, to help meet certain strategic partnership obligations and for general working capital purposes.