CHF WEEKLY ROUND-UP: July 29 - August 30, 2024

As we head into the Labour Day Long Weekend, there's a shift in seasons and a shift in focus. While summer isn't over, this weekend often marks a turning point when we begin to concentrate more on financial planning for the rest of the year.

Global equity markets fell sharply early in August, but Canadians caught a one-day break due to the Civic Holiday. Recovery was quick. All three major U.S. indices were down, with the S&P 500 logging its worst day since 2022, driven by big Tech (Mag7) stocks. Concerns ranged from a pending U.S. recession to the Fed not cutting rates and Japan raising rates. Ultimately, it seemed like a normal market correction, with trends continuing to all-time highs. Opportunities for trading or buying on dips remain.

Canadian stock markets have performed strongly, with the TSX hitting several record highs this month. Despite being up only 12% this year, it still offers attractive valuation opportunities compared to the S&P 500, which is up 18% year-to-date. Canada’s economy grew more than expected in the second quarter, but falling per-capita GDP and softening household consumption will likely keep the Bank of Canada on track to cut rates for a third consecutive meeting next week.

There are less than three months until the U.S. election, and a new slate has appeared, creating new uncertainty. Every announcement or media event is reflected in market expectations.

The U.S. dollar came under heavy selling pressure, losing 1.8 % this month, and now sits barely above where it started the year.

Gold and gold equities got sold off early in the month but have put on a solid performance, gaining almost 6% this month and 23% year to date. The market remains hot, and with prospects of interest rate cuts finally arriving, Gold is well-positioned to move up. Prices for senior producers have rebounded following some great Q2 earnings reports, but there is still plenty of room on the upside. Junior mining is starting to see some interest, but issuers remain at multi-year lows compared to the gold price and are a store of value for selective buying as these may break out at any time.  Silver has firmed up in the second half of the month but continues to be below $USD 30.00/oz and the Au/Ag ratio favours a move up.

Copper prices have pushed back above $USD4.00/lb. at USD$4.15 this morning.  Nickel jumped up to USD$7.72/lb. Questions remain about the state of the Chinese economy and manufacturing demand; some are even wondering if they are waiting for the results of the U.S. elections.  The other metals have been trending upward, reflecting the weaker dollar.

Battery and Critical materials continued at low levels, reflecting actions by China to control prices and maintain its market dominance. Uranium looks to gain on the news that Kazakhstan’s output will be 17% lower next year.  While there seems to be a lot of gloom in this sector, there are reasons to be optimistic and use the current low prices as an entry point. China slammed Canada’s decision to join other Western nations and impose a 100 percent import tariff on Chinese electric vehicles Tuesday, accusing it of politicizing trade and vowing to retaliate. China then made an announcement of export restrictions on antimony similar to already imposed restrictions on exports of gallium, germanium and graphite.  

CHF staff had the incredible opportunity to attend and participate in the Critical Minerals Summit III conference this month. Well organized by the Critical Minerals Institute and attended by global industry experts, it offered 2 full and intense days of presentations and panel discussions on the state of the sector and the opportunities most people remain unaware of.  A lot of work will be required to secure the supply chains of the materials required for the energy transition and the AI economy from the hands of China.  Do not ignore this sector, big investment will be required, creating opportunities for participation.

The updated CHF Capital Markets website has gone live. We invite you to check it out now: CHF Capital Markets | A one-stop shop for all your communication needs!

Our clients, who continue to execute their strategic plans, have made progress and checked off many milestones. We are pleased to present our round-up of the news released between July 29 - August 30, 2024.

Mining

On July 25, 2024, Mugglehead Magazine, (Alternative investment news), Published an article featuring Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) discovering high-value gold in early spring prospecting.

Read Mugglehead Here.

On July 26, 2024, Resource World Magazine also featured Sokoman.

Read about Sokoman Here.

On July 29, 2024, Falcon Gold Corp. (FG-TSXV) (FGLDF-OTCQB) was featured in an article in Resource World Magazine. The article described the exploration company as one that specializes in generating, acquiring, and exploring mining projects in the Americas. With a focus on gold and copper exploration, Falcon aims to uncover untapped potential in promising mineral-rich regions.

Karim Rayani, Chairman and CEO, stated: "Through strategic acquisitions and diligent exploration, our diversified mining property portfolio positions us at the forefront of industry resilience and growth. Our main goal is to maximize opportunities across various mineral sectors, ensuring sustainable value creation and resilience in dynamic market conditions."

Read the full Article Here.

On August 13, 2024, Nuinsco Resources Limited (CSE: NWI, FRA: NJX) announced that a recent review and sensitivity analysis of high-grade P2O5 and REE mineralization at the Prairie Lake Critical Minerals Project has established substantially higher P2O5 and REE grades than previously reported, which may have great significance to the development of the Project.

On August 20, 2024, Falcon Gold Corp. (TSXV: FG) (GR: 3FA) (OTCQB: FGLDF), reported on the status of the inaugural drill program at its 100%-owned Great Burnt Copper Project located in Central Newfoundland. The Company encountered delays earlier this spring due to high water levels in accessing the Property. The Company had to apply for additional permits to build 8 km of additional road to access the drill site, which is anticipated to be completed by the end of the week. The Company will report the status once equipment can be mobilized to the site.

Figure 1. Great Burnt Copper Project area with Falcon claims in orange and Benton - Homeland Nickel (previously Spruce Ridge) Great Burnt Copper-Gold joint venture in blue. New claims cover conductive trends hosting copper and gold mineralization.

On August 22, 2024, Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) announced that a diamond drill rig has been mobilized to the Fleur de Lys Property, with drilling to commence immediately. The 2,000-m, Phase 1 program will test historical showings and targets generated by Sokoman's 2021-2024 till / prospecting programs, including the Golden Bull prospect discovered in 2023.

Photo 1: Tim Froude with a typical boulder from Golden Bull - Fleur de Lys Project

Technology

On August 6, 2024, Visionstate Corp. (TSXV: VIS) announced the successful completion of its virtual Annual General Meeting (AGM) held on Wednesday, July 31, 2024.

Shareholders voted in favour of all official business items presented at the AGM. This includes the appointment of a new board, which will be led by Jim Duke as Chairman, alongside Belinda Davidson and John Putters.

On August 26, 2024, Visionstate Corp. (TSXV: VIS) announced the closing of its previously announced non-brokered private placement of $500,000. The Company closed proceeds of $310,000, in addition to closing on approximately $190,000 announced by the Company on July 2, 2024.  Visionstate has closed on the initial tranche of subscriptions of 9,515,000 Units at a price of $0.02 per Unit for gross proceeds of $190,300, which includes 2,425,000 Units issued to certain insiders of Visionstate.

On August 29, 2024, Visionstate Corp. (TSXV: VIS) announced a non-brokered private placement of up to $600,000. The financing will consist of one unit at $0.025 (two and a half cents) per unit which is comprised of one (1) common share and one (1) whole warrant  which is exercisable at $0.05 (five cents) per Warrant to receive one (1) Share for a term of 5 years after closing, subject to an acceleration clause as noted below.

Fintech

On July 30, 2024, Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) released a recording of the recent Town Hall Interview (Q&A), where Johnson Joseph, CEO, discussed key developments and strategies for the second half of 2024. He highlighted the critical $5 million credit facility secured by the company and noted that additional capital is likely needed to meet all objectives for the year. 

Listen to the interview by clicking here. 

August 9, 2024, Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) released an updated version of its website https://www.tenetfintech.com/ in order to reflect the Company's transition from being a predominantly transaction fee revenue-driven company with operations focused in China, to a company that expects most of its revenue to come from subscription fees from a diverse data derived product offering initially offered to a North American audience. 

The updated website also includes an updated investor presentation, which can be downloaded here. 

August 14, 2024, Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) announced that it has signed a strategic alliance agreement with Elite Times CPA Inc. ("Times CPA") to bring Times CPA's approximately 1,000 small- and medium-sized enterprise (SME) clients to the Business Hub, while the parties also endeavor to bring automated bookkeeping to the platform. 

August 16, 2024 - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) announced that it has begun the process to have its shares listed for trading on the OTCQB Market in the U.S. Tenet's shares are currently listed on the OTC Market's Pink Market, which provides some measure of limited and restricted U.S. trading. To be eligible for the upgrade to the OTCQB Market, Tenet will have to demonstrate that it is current in its reporting and disclosure materials. Tenet's common shares last traded on the OTCQB Market in September 2020, followed by a listing on the OTCQX Market for about a year until September 2021 when the Company's shares briefly traded on the NASDAQ Capital Market Exchange. 

August 22, 2024, Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) announced that it has signed a strategic advisory agreement with Altitude Capital Consultants Inc. ("Altitude"), led by renowned Canadian capital markets expert Michael Wekerle. Altitude and the Company have agreed to a one-year term whereby Altitude will render certain services that includes primarily capital markets strategy, review and analysis of strategic opportunities, the examination of sources of funding and future capital requirements, and general marketing advice, including on the commercialization of Tenet's data-driven ie-Pulse product offering destined to capital market professionals. 

August 23, 2024, Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) announced that it intends to conduct a private placement financing by selling up to 30,000,000 units with each unit priced at $0.10 for gross proceeds of up to $3,000,000. 

August 29, 2024, Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) announced its financial results and operating highlights for the three-month and six-month periods ended June 30, 2024, and June 30, 2023. Tenet reported revenue of $713,943, EBITDA of ($10,685,055) and a net loss of $13,451,547 for the quarter. All amounts in this news release are in Canadian dollars unless otherwise indicated. 

Q2-2024 Financial Highlights

• Total Revenue of $713,943

• EBITDA of ($10.69 million)

• Net Loss of ($13.45 million)