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CHF WEEKLY ROUND-UP: April 10 - 17, 2026

Updated: Apr 19

Since the beginning of this month, global stock markets have appeared to assume that the war is over until further notice. World shares were mixed this week as investors watched for signs of more U.S.-Iran talks, with an “in-principal agreement” hoped for to extend the ceasefire in the Iran war, which is expiring next week. Investors were closely watching while oil prices rose and dipped, as markets assessed the prospects of a ceasefire extension. There may be optimism in some quarters that this round of chaos in the Middle East will eventually lead to a long-term peace deal, which could bring a sense of normality back to the market. Markets might just be underestimating the real extent of the war’s economic damage and the time required to repair it. The International Energy Agency has said that the greatest global energy security is that the Strait of Hormuz “will not return to its pre-war status.” A resumption of the full flow of oil and other critical materials from the Persian Gulf to customers worldwide could be years away, even if peace arrived today. Expect oil prices to remain elevated and volatility to be a daily feature. Trade carefully.


The TSX composite is just 1.1% away from its all-time high; less than 400 points from the peak set at the beginning of March this year. The index struggled through the latter part of the week, as utilities, financials, industrials, and battery materials got sold. The TSXV is climbing, near a level not seen since early 2013. The federal government is set to table its spring economic update on April 28, Finance Minister François-Philippe Champagne told the House of Commons on Tuesday. The Bank of Canada (BoC), meanwhile, is set to release its next monetary policy report and interest rate decision the following day, on April 29, 2026. Monetary policy-makers at the BoC have said they are relying more heavily on their own judgment and reasoning to chart a course for the benchmark interest rate amid conflicting economic signals pointing to the need for both tighter and looser monetary policy at the same time. Trade Minister Dominic LeBlanc said the government is ready to resolve trade issues and enter a comprehensive agreement with the U.S. that would ease pressure on tariff-affected sectors of Canada's economy and provide greater certainty around the continuity of the U.S.-Mexico-Canada Agreement. The federal government has announced plans to hold the first-ever Canada Investment Summit this September in Toronto, inviting the world’s largest investors, including top CEOs, entrepreneurs, and prominent global business leaders. The main goals are encouraging Canadians to reinvest in local projects and attracting fresh investment into Canada.


The US economy remains resilient, and so do corporate earnings. The war in the Middle East can be regarded as the latest of many stress tests for the U.S. economy, which it has been passing, at least so far. On Wednesday, the S&P 500 hit an all-time high while the Nasdaq posted its 11th straight day of gains, its longest run in four years. After surpassing 7,000 on Wednesday, the S&P 500 is targeting 7,700 by year-end 2026. The AI bubble has not burst; instead, large-scale cloud and data center providers (AKA hyperscalers) have been leading since the stock market's bottom on March 30, 2026. Both domestic and foreign investors have ignored the risks of a military escalation in the Middle East, returning to the apparent resilience of the US economy. This has resulted in all-time highs in equities led by a fresh wave of buying by both domestic and foreign investors. The U.S. dollar (USD) has been moving down since the beginning of the month, but remains too high until the Fed returns to cutting rates. While the April 29, 2026, rate setting is scheduled to be the last for Jerome Powell, the ongoing delay in approving his replacement may keep him in place. How do you play that?


Gold was up and down this week, mirroring the on-and-off status of a Middle East peace agreement. Today’s opening is at USD$4,817.20/oz, after President Trump again said that a deal to end the war is “very close” and that talks may resume this weekend. Silver has reached USD$80.09/oz at opening. Platinum and Palladium are on the upside this morning as well. The Silver Institute’s annual Survey expects its sixth consecutive annual deficit of 46.3 million ounces and underscores how years of undersupply, amid industrial demand growth, have eroded above-ground stocks and left the market vulnerable to price volatility. The People’s Bank of China has been taking advantage of the recent price discount to stock up on gold, adding another 5 tonnes to its holdings. China also buys through other proxies not reported as official central bank purchases. China is buying Silver too. Gold shares have been under sales pressure recently, and it may be time to buy back into medium-sized producers and explorers with growing resources or juniors on the cusp of discoveries.


Base and industrial metals are firming as the conflict recedes in investor concerns. Copper is reaching USD$6.00/lb today, while Nickel is at USD$8.30/lb. Uranium, at USD$85.60/lb this week, needs processing and upgrading. The price of aluminum is dropping, but like oil, output losses from Middle Eastern suppliers will not return quickly. Pricing for tin, antimony, zinc, molybdenum, and uranium, all moving together, looks positive for mineral investors.


Battery, technology, and Critical Mineral prices are recovering this week from a dip at the height of the Middle East conflict. Battery-ready chemical prices in China have been rising over the last two weeks and year to date. Exploration companies are being successful at identifying new sources of raw materials. How and where to get those materials processed and refined into usable forms outside of Chinese influence is becoming an opportunity. Look for leaders developing in this area.



If you are looking for ways to get your story out to a wider and qualified audience, let CHF host a private, by invitation-only lunch at one of Toronto’s upscale venues. Contact us for more details. 


Our most recent event, held at Hy's Steakhouse & Cocktail Bar this week, was for South Kirkland Gold, a client of Refined Substance.



Greg Collins, P.Geo., Chief Executive Officer, presenting the South Kirkland Gold story at Hy’s.


We are pleased to present our round-up of client news from April 10 to 17, 2026.



On April 10, 2026, Rocky Shore Gold Ltd. (CSE: RSG) announced that its common shares previously traded on the OTC Markets under the ticker symbol "CNOBF" will begin trading on the OTC Markets under the ticker symbol "RSGLF" effective April 13, 2026. No action is required by shareholders with respect to the ticker symbol changes. 



On April 13, 2026, Pirate Gold Corp. (TSXV: YARR) (OTCQB: SICNF) announced high-grade gold results from the Moosehead Zone and the discovery of a new gold vein, the Rib Vein. The Treasure Island project covers over 90 km of strike along the Valentine Lake Fault Zone in Canada's newest gold district. Three diamond drills are currently active at the Treasure Island Project; two drills are active at the Crippleback target, and one drill is active at the Moosehead Zone. 


Denis Laviolette, Executive Chair and CEO said "This is exactly what you want to see in a high-grade system. The Rib Vein confirms that gold at Moosehead is not limited to a single structure. We're now starting to unlock multiple orientations, which is how these systems scale." 


"The discovery of a new high grade vein structure at the Moosehead Zone exemplifies the potential to expand the mineralized footprint at shallow depths. While much of the known mineralization occurs in the Eastern and Western trend faults which are oriented to the northwest, we now see that this linkage structure connecting the two zones can occur oblique to this orientation and opens a new exploration frontier to build out the density of veining. With sixteen drill holes now defining a 150m long and 90m deep vein domain, the continuity of this structure is quite strong. It is early days in understanding the structural complexity of this type of orogenic system." said Greg Matheson, VP Exploration of Pirate Gold. 



A video “Pirate Gold Treasure Hunters Season 1 Episode 9 - Tying the Timbers” was also released and captures the discovery of the Rib Vein Zone at Moosehead and what it means for the growing system.


On April 14, 2026, Pirate Gold Corp. (TSXV: YARR) (OTCQB: SICNF) was featured on the Rocks And Stocks News program hosted by noted mining commentator Allan Barry Laboucan who did another of his deep dives into their latest news and Treasure Hunters Video release.



On April 16, 2026, Rocky Shore Gold Ltd. (CSE: RSG) announced that the Company has begun a first-phase drill program at its 100%-owned Gold Anchor Project in central Newfoundland. The drill program will focus on a portion of the undrilled 11-kilometre-long Lane Pond Gold Target where gold mineralization in soil, basal till, and rock is associated with geophysical anomalies and hosted within the prolific Appleton Fault Corridor. A total of 3,500 metres in 15 to 20 reconnaissance drill holes will target an area of 1,500 metres by 600 metres. The Lane Pond Gold Target is viewed as a fault-related, high-grade gold drill target hosted within sedimentary rocks and a bulk-tonnage porphyry gold target hosted within intrusive rocks. Both target types are located near the Company's Mosquito Hill and Reid gold deposits at Gold Anchor.


Ken Lapierre, President and CEO of Rocky Shore Gold, commented, "We are very excited to begin drilling at our Lane Pond Gold Target located within this emerging gold district in central Newfoundland. The Company is well-funded and plans to expand its 2026 exploration program to unlock Gold Anchor's full potential, including airborne geophysics, targeted prospecting, and sampling. Drilling has commenced initially on discovery of new gold-bearing mineralized systems at Lane Pond and will be expanded to identify additional gold mineralization along trend at its two existing gold deposits."


In addition, the Company's wholly-owned subsidiary has entered into a purchase agreement for the acquisition of 13 mining claims in central Newfoundland. Upon completion of this transaction, the claims will enhance Rocky Shore's strategic position in one of Canada's most prospective gold belts. Under the terms of the purchase agreement, the Company, through its wholly-owned subsidiary, shall have the right to earn a one hundred percent (100%) interest in and to the 13 mining claims in consideration of $25,000 cash and the issuance of 250,000 common shares. The vendors shall retain an aggregate net smelter return ("NSR") royalty of 2.0%. Rocky Shore, through its wholly-owned subsidiary, may repurchase, at any time, 50% of the NSR for $1,000,000 cash, and shall have a Right of First Refusal on the NSR.



On April 16, 2026, Arya Resources Ltd. (TSXV: RBZ) announced that its non-brokered private placement has increased the flow-through component of the financing from $2,000,000 to $2,190,000 due to strong investor demand. The upsized flow-through component will now consist of up to 4,380,000 flow-through common shares at a price of $0.50 per FT Share, for gross proceeds of up to $2,190,000.


Rasool Mohammad, President and CEO of Arya Resources, commented "We initially capped the flow-through financing at $2.0 million, with only a modest increase to $2.19 million to manage dilution prudently. While demand was strong, we elected not to accept additional subscriptions to maintain a disciplined capital structure and minimize dilution to our shareholders."


"We were very encouraged by the strong demand for the flow-through financing," said Peter K. Deacon, Director. "While we would have welcomed all interested participants, we remain committed to protecting our existing shareholders by carefully managing dilution. We are also very proud of Rasool's leadership and the tangible value he continues to build for the Company."

 

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