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This was a short trading week with Monday holidays in Canada, and the U.S. global uncertainty remains high as U.S. President Trump continues to push America to the centre of the world economy while attempting to force an end to the Ukrainian/Russian conflict. A lot of worry is being created by the possible negative impact of tariffs. Hopefully, more clarity will appear in the next two weeks before “tariff panicking” peaks and a large flight to safety commences.
Canada’s annual inflation rate ticked back up in January as Statistics Canada reported on Tuesday that the annual consumer price index rose to 1.9 percent last month, up from 1.8 percent in December. This may be a little bit hotter than the Bank of Canada would like to see, and future interest rate reductions may be deferred. This caused a bumpy week for the TSX, but it remains near its all-time high and is up more than 3% this year. The Venture Exchange is off to a good start this year, up more than 7%, suggesting movement to junior issuers with Technology and Mining companies attracting a lot of attention.
The U.S. Federal Reserve's January meeting minutes revealed concerns about persistent inflation, the potential impacts of proposed 25% tariffs on automobiles, semiconductors, and pharmaceuticals, and suggested interest rate cuts remain on hold. Markets do not expect the Federal Reserve to lower rates before its July meeting. U.S. equity markets experienced modest gains on Wednesday with the S&P 500 reaching another record high, up 4% higher year-to-date. Market leadership was broad-based with most sectors finishing higher. A strong start to the year has historically been followed up by strong full calendar-year returns.
Gold is opening today at USD$2,926.30/oz, and while it faces some resistance at USD$2,950, a support base at USD$2,930 has been building this month, and it remains in a solid uptrend. Some analysts expect gold prices to hit USD$3,000/oz by the second quarter of this year however, the risks of profit-taking may cause fluctuations in the short term. Silver has moved up this month and is building support near USD$33.00/oz.
While the USD has been in a downtrend since the start of the year the Base and Industrial metals are not feeling any benefit. Tariffs and trade uncertainty are holding prices down. Copper at USD$4.60/lb. gave back its gains from last week, and nickel remained stuck in the $7.00 range. Copper giants continue to position themselves for growth, with Anglo American and Chile’s state-owned Codelco agreeing to jointly develop their neighbouring operations in a move that will see a production of 2.7 million tonnes of additional copper produced in 21 years starting from 2030.
Battery sector and energy materials continue to struggle, and the tariff and trade tensions with China continue to compound a difficult market. Lithium has fallen back to USD$10.50/kg this week, and cobalt remains at USD$9.75/lb.
Reasons for optimism remain as Export Development Canada (EDC) on Tuesday provided up to CAD$100 million in financing for Australia’s Green Technology Metals (ASX: GT1) to develop the Seymour Lake lithium project in Ontario that could become the province’s first lithium producer. A lot of value can still be found in the energy materials sector and the demand drivers for future electricity continue.
We present our round-up of client news released February 17-21, 2025.
Mining
OUR NEWEST CLIENT - On February 19, 2025, Rocky Shore Gold Ltd. (CSE: RSG) announced that it has engaged CHF Capital Markets Inc. (“CHF”), a distinguished Canadian firm specializing in investor relations and capital markets.
Mr. Ken Lapierre, President and CEO of Rocky Shore Gold, stated, “Rocky Shore Gold is pleased to partner with CHF Capital Markets as we embark on a critical phase of our growth. With CHF and its CEO, Cathy Hume, both highly esteemed in the mining sector, we are poised to significantly enhance our communications, social media presence, and outreach within the investment community.”
Cathy Hume, CEO of CHF Capital Markets, shared her enthusiasm about the Company saying, “We are thrilled to join forces with Rocky Shore Gold as they advance their flagship Gold Anchor Project in central Newfoundland. This project holds immense potential, strategically positioned along the same fault and fault splays known for significant gold mineralization. As the second-largest claim holder in central Newfoundland — spanning an impressive 70 km by 20 km of underexplored territory — the Gold Anchor represents a compelling opportunity for discovery and growth.”
Effective immediately, the CHF services agreement will focus on investment community outreach, corporate communications, and digital and social media marketing for a term of 12 months.
The Gold Anchor Project in central Newfoundland totals over 1,250 square kilometres (approximately 70 km long by 20 km wide) in an emerging gold district. It is strategically located immediately to the southwest of, and on-trend to, significant high-grade gold discoveries. Gold Anchor represents an excellent opportunity for the discovery of multiple gold systems in a significantly underexplored area of central Newfoundland.
Ken Lapierre had been appointed as President and Chief Executive Officer of CSE-listed Hemlo Explorers Inc. (HMLO: CSE), effective February 1, 2025. Brian Howlett, the former Chief Executive Officer, had been appointed as Chairman of the Board of Directors. Mr. Lapierre stated, “I look forward to this exciting challenge as President and CEO of Hemlo, which is soon to be renamed Rocky Shore Gold. Our new mission is to explore our Gold Anchor Project for the next major Newfoundland gold deposit located in a new emerging gold district with proven high grade gold discoveries. I thank our shareholders, Brian, the Board of Directors and our largest shareholder (Rob Cudney and Northfield Capital) as we embark on this truly exciting opportunity.”
Mr. Brian Howlett commented, “It has been my honour to have served as CEO of Hemlo Explorers Inc., and I am excited to be moving ahead with our Gold Anchor project in Newfoundland. I look forward to working with Ken in developing Gold Anchor towards discovery.”
On February 19, 2025, Falcon Gold Corp. (TSXV: FG) (OTC Pink: FGLDF) (FSE: 3FA) announced that it has successfully completed road plowing and access improvements at its Great Burnt Copper-Gold Project in Central Newfoundland. Despite challenges posed by heavy snowfall, the Company has ensured full accessibility to the drill site and has now mobilized its drill equipment to camp. With all logistics in place, drilling is set to commence by March 1, 2025.
Karim Rayani, CEO of Falcon Gold Corp., said, "Our team has worked diligently to overcome the logistical challenges caused by heavy snowfall, ensuring seamless access to our drill site. With the road now fully optimized and our drill equipment mobilized to camp, we are well-positioned to begin drilling at the Great Burnt Copper-Gold Project by this weekend. This is a key milestone in advancing our exploration efforts, and we look forward to providing further updates as work progresses."
February 20, 2025, Northern Miner AME JV Interview: Sokoman (TSXV: SIC | OTCQB: SICNF) Advances Bulk Gold Strategy, Lithium Spin-off Milestones. Investors were invited to watch an exclusive Northern Miner AME JV interview with Tim Froude, President & CEO of Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF). In the discussion, Tim provided key insights into Sokoman’s bulk gold strategy and the latest developments in its lithium spin-off milestones. With a strong exploration portfolio and a clear vision for growth, Sokoman is positioning itself as a leader in Newfoundland’s resource sector. Watch the video HERE
On February 20, 2025, Libra Lithium announced that AI-powered Mega-Explorer KoBold Metals Company, currently set to fund a $33 million exploration earn-in to Libra's Flanders South, Flanders North and Soules Bay-Caron (SBC project) lithium projects in Ontario, has mended the agreement to include certain additional claims recently staked by Libra that are contiguous to the SBC Project.
Libra is also pleased to announce that PowerStone Metals Corp. (CSE: PS) and Libra have entered into an amending agreement to the definitive agreement dated December 31, 2024 with respect to the reverse takeover of PowerStone by Libra, pursuant to which the outside date to complete the Transaction has been extended to June 30, 2025 in order to provide both Libra and PowerStone additional time to evaluate and consider merger and acquisition opportunities in the lithium and broader critical metals sector.
Koby Kushner, CEO of Libra. Said "We are pleased to have been able to secure these additional claims at the SBC Project and are encouraged to see continued interest from KoBold. We look forward to our continued collaboration with KoBold as we prepare for the next phase of exploration at the SBC Project. We would also like to thank PowerStone for patiently accommodating an extension to the Definitive Agreement, allowing for additional time to facilitate some exciting counter-cyclical M&A targets we are actively evaluating."
On February 21, 2025, Falcon Gold Corp. (TSXV: FG) (OTC Pink: FGLDF) (FSE: 3FA) announced the appointment of Victor A. French, a distinguished Newfoundland-based geologist to oversee and lead the Company's Great Burnt Copper-Gold Project in Central Newfoundland.
Mr. French, hailing from Bay Roberts, NL, holds both B.Sc. and M.Sc. degrees in Geology. He is a Registered Professional Geoscientist in Newfoundland and Labrador, a Fellow of the Geological Association of Canada, and a life member of the Prospectors & Developers Association of Canada. With over 50 years of experience, Mr. French has held senior managerial roles in open-pit mining operations and has served as an exploration consultant with a focus on gold and silver exploration.
Karim Rayani, CEO of Falcon Gold. said "We are very pleased to welcome Victor French to our team. His unparalleled expertise in Newfoundland's geology and his proven track record in mineral exploration will be invaluable as we advance the Great Burnt Project."
SAVE THE DATE
The World’s Premier Mineral Exploration & Mining Convention. Only a week away!
Make sure to visit CHF’s Clients:
CHF Capital Markets CEO Cathy Hume will be part of an expert panel on capital markets during a SOLD-OUT short course at PDAC.
On Sunday, March 2, 2025, 8:30AM to 12:30PM – the panel itself will be from 9:45 to 10:30 AM in the Metro Toronto Convention Centre, room TBD.
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