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U.S. President Trump continues to drive global uncertainty with daily announcements of some economic measure seemingly aimed at putting America at the centre of the world economy. Markets globally have been rising and seem to be on board. The problem with these winner-take-all games is the high probability that everyone will end up with nothing.
The TSX is holding near its recent all-time high, with most sectors advancing. The TSX Venture index has continued to rise since the start of the year, suggesting a broadening of investor interest. Canada’s unemployment rate fell to 6.6 percent as 76,000 jobs were added in January.
American markets are also near all-time highs and seem pointed higher today. There is some weakness among the Mag 7 Tech giants, but there appears to be some broadening into other sectors lifting the indices. U.S. inflation increased by more than expected last month to 3% in January, its highest rate for six months, and above the 2.9% expected by economists. The Federal Reserve continued to hold interest rates at the end of January, saying there was significant uncertainty about where the economy might be headed. President Trump had made tackling inflation a centrepiece of his election campaign but has put forward policies, such as higher tariffs, that economists say risk pushing up prices. Both Canadian and U.S. markets will be closed on Monday, February 17th.
The gold market is seeing some renewed volatility, but it continues to hold its ground above USD$2,900 as weak U.S. retail sales data highlights lower consumption and growing risks for the U.S. economy. Bullion is trading at USD$2,926.70 this morning and may need to spend more time building a support base at this level before tackling USD$3,000 again. The price of silver opened today at USD$33.00 sharply up this week and hitting a 3.5-month high. Major gold producers are reporting high revenues and profit levels this week. Precious metal shares are getting noticed, and the rise in the TSXV suggests that selected buying is occurring among junior explorers, especially those in established camps in safer countries.
The USD’s recent strength has weighed on industrial metals pricing. The USD peaked about a month ago and is today at its lowest in two months, which may lift base and industrial metals. There may be a bit of a price lift by buying from metal users trying to get stocked up before a more punitive international tariff regime; the aluminum price is showing this. Copper at USD$4.76/lb. is at a six-month high. Nickel remains mired at a 4-year low of USD$6.98/lb. The expected recovery in China’s metal demand has failed to materialize with the ongoing property sector downturn and the potential escalation of U.S.-China trade tensions remaining key risks to the world’s second-biggest economy’s growth. More prominent producers are making moves to enhance their copper exposure, and M&A may ramp up sharply this year.
The battery sector and energy materials continue to struggle, and trade tensions with China continue to compound a difficult market. Despite supply constraints and optimism for nuclear power, uranium has fallen to a seventeen-month low of USD$67/lb. Share prices of uranium-based issuers have been down for three months. A lot of value can be found in the energy materials sector, and demand drivers for electricity continue.
We are pleased to present a round-up of our client’s news released between February 10-14, 2025.
Mining
On February 11, 2025 - Athena Gold Corporation (CSE: ATHA) (OTCQB: AHNR) announced that its Registration Statement on SEC Form S 4, relating to the proposed merger with its British Columbia subsidiary, Nova Athena Gold Corp., was declared effective by the Securities and Exchange Commission (the “SEC”) on February 4, 2025.
This has allowed the Company to schedule the Annual, General, and Special Meeting (“Meeting”) to be held in relation to the merger (“Merger”). The Meeting will be held virtually on Zoom on Thursday, March 27, 2025, at 10:00 a.m. MST. Shareholders of record as of February 18, 2025, may register to attend the Meeting HERE:
The Merger is expected to close shortly after the Meeting, subject to shareholder approvals and satisfaction of other customary closing conditions. Upon closing, the combined companies will retain the name “Athena Gold Corporation” and will continue to be listed on the Canadian Securities Exchange and the OTCQB.
Athena Gold and Nova Athena have executed an Agreement and Plan of Merger and Amalgamation dated February 4, 2025, pursuant to which Athena Gold will merge with and into Nova Athena and redomicile to British Columbia, Canada. Under the terms of the agreement, Athena Gold stockholders will receive one common share in the capital of Nova Athena for each common share of Athena Gold stock they own, as determined based on the exchange ratio described in the merger agreement. The transaction is expected to close shortly after the shareholder meeting, subject to the satisfaction of customary closing conditions, including approval by the stockholders of both companies.
On February 11, 2025, Athena Gold Corporation’s incoming President and CEO, Koby Kushner, sat down with CHF Capital Markets and interested investors for a detailed presentation of the company’s exciting projects. To listen to the presentation, please click here.
On February 12, 2025, Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) announced that it has filed AMENDED Management Proxy Materials for its annual and special meeting of shareholders. The Meeting will be held March 21, 2025, in Vancouver, BC.
Sokoman shareholders will be asked to approve a special resolution (by two-thirds of votes cast) to reorganize Sokoman's share capital to facilitate a spin-out to shareholders of approximately 2 million of Sokoman's 4 million shares of Vinland Lithium Inc. (Vinland). Vinland, co-owned by Sokoman (40%), Benton Resources (40%), and Piedmont Lithium Newfoundland Holdings LLC, (20%), is the current holder of the Killick Lithium Project. Benton will concurrently seek the approval of its shareholders for a similar two million share spin-out. Upon the two spin-outs completion, the TSX Venture Exchange has agreed to list the approximately 10 million issued shares of Vinland, of which approximately 40% will then be in the hands of Sokoman and Benton shareholders.
The final ratio of Vinland shares per Sokoman share will be determined prior to completion in March 2025. The exchange ratio is dependent on the number of Sokoman shares issued at the time of completion but is expected to be approximately 50 Vinland shares per 8,000 Sokoman shares. Accounts holding less than 8,000 Sokoman shares will not receive Vinland shares as the immediate and ongoing administration and compliance costs for very small odd-lot Vinland shareholders would be prohibitive.
On February 14, 2025, Falcon Gold Corp. (TSXV: FG) (FSE: 3FA) announced that it has engaged Warrior Drilling to take over exploration operations at its Great Burnt Project in Newfoundland. This decision aligns with Falcon Gold's strategy to accelerate exploration in a district that continues to demonstrate strong potential for high-grade copper and gold mineralization. Once drilling commences, Falcon Gold expects to release assay results and will be providing updates as exploration advances.
CEO Karim Rayani, commented: "With the success seen at Benton Resources and others in the area, we are highly encouraged by the potential at Great Burnt. Our geological team believes the mineralized structure extends north into our project, and this drill program will test that theory. We are excited to get drills turning and look forward to sharing results with our shareholders."
Technology
On February 14, 2025, Visionstate Corp. (TSXV: VIS) revealed that the facility management industry is undergoing a significant transformation, driven by advancements in Digital Cleaning Management Software (DCMS). Provinces like Ontario are at the forefront of this change, introducing new legislation that requires cleaning confirmations to enhance worker safety. This shift underscores the critical role of technology in ensuring compliance, efficiency, and accountability in facility maintenance.
Shannon Moore, President of Visionstate IoT Inc. said "The pipeline for sales has grown significantly as more industries recognize the need for digital cleaning management solutions. WANDA was considerably ahead of its time, but we are now seeing the transformation happen as more organizations embrace the technology to improve efficiency and compliance."
SAVE THE DATE
The World’s Premier Mineral Exploration & Mining Convention.
CHF Capital Markets CEO, Cathy Hume, will be part of an expert panel on capital markets during a short course at PDAC.
Sunday, March 2, 2025, 8:30 to 12:30 – the panel itself will be from 9:45 to 10:30 in the Metro Toronto Convention Centre, room TBD.
More info and registration:
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