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Global markets were hit with waves of volatility this week, and they may well increase as the confusing statements surrounding tariff implementation, worries over U.S. government job cuts, future debt-level speculation, inflation fears, and the next series of policy changes from President Trump fuelwidespread doubt. Canadian markets held up this week, and while some ground was lost, the TSX and the Venture exchange are still positive on the year. The Bank of Canada (BoC) is scheduled to announce its next interest rate on March 12, 2025. Canadian inflation rate rose in January and may cause BoC to consider holding rates. However, employment weakness and the implementation of tariffs may trigger another cut.
The U.S. stock markets were hit by a series of poor economic indicators that were seen as weak. Much of the selloff was led by momentum stocks, especially the Magnificent-7, led by Nvidia. The S&P 500 and NASDAQ are at levels not seen since November 2024. It is not a bear market yet, and it could all pass if the next batch of economic indicators improves. Analysts expect that stock prices may continue to be choppy through mid-year before climbing to new record highs later in the year on solid economic and earnings growth, with 6,500 as a "base case" year-end forecast for the S&P 500.
The U.S. dollar (USD) strengthened this week driven up by pending tariffs. Gold prices fell every day this week, opening at USD$2,848/oz this morning, down by 3.3% from the recent high but still at a support level set in February. Bear-market talk is being heard here as well, or maybe the last good buying opportunity.Gold producers are highly profitable at this level, and juniors with “gold in the ground” remain undervalued, and explorers with high-potential projects are a bargain.
The stronger USD and speculation of falling consumer demand pushed industrial and base metal prices down this week. Everything is being caught in tariff threats, with copper in the sights this week. The copper giants, BHP, Rio, Glencore, and others, have stepped up their worldwide search for new copper sources.
Battery and electric materials remain in a six-month slump with no sign of a breakout, held down by export restrictions on materials and technology being placed by China, while increasing its involvement in the metals and mining sector worldwide, and the proposed U.S. tariffs on Chinese imports. China accounts for more than half the global production of battery metals, including lithium, cobalt, and manganese, and 69% of global rare earth output. Energy growth is vital to global development, and the development of other sources of supply in this sector should not be overlooked.
We present our round-up of client news released between February 24 and 28, 2025.
Mining
On February 26, 2025, Rocky Shore Gold Ltd. (CSE: RSG) announced that it has staked additional ground that now extends the gold-bearing Appleton Fault Corridor to more than 20 kilometres within the Company’s Gold Anchor Project. The Appleton Fault Corridor is known to host major gold discoveries northeast of the Gold Anchor Project in central Newfoundland (see Map 1).
On February 27, 2025, Athena Gold Corporation (CSE: ATHA) (OTCQB: AHNR) announced its participation at the upcoming Prospectors & Developers Association of Canada (PDAC) Convention from Sunday, March 2, to Wednesday, March 5, 2025.
Athena Gold, together with Libra Lithium Corp., will be exhibiting at Booth No. 3144 at the Investors Exchange in the South Building. Athena Gold invites attendees to meet with members of its incoming management team, including Koby Kushner, Ben Kuzmich, and Andrew Jedemann. On February 26, 2025, CHF Capital Markets proudly co-hosted an exclusive afternoon networking event for Athena Gold Corporation (CSE: ATHA) (OTCQB: AHNR) and Libra Energy Materials. Held at the stunning Aird & Berlis offices on Bay St., the event featured a captivating presentation by Koby Kushner to investment community professionals. A special shout-out to Russell Sanders and his team at A&B for their warm and gracious hospitality, making everyone feel exceptionally welcomed.
On February 27, 2025, Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) announced its participation at the upcoming Prospectors & Developers Association of Canada (PDAC) Convention, taking place at the Metro Toronto Convention Centre (MTCC) from Sunday, March 2 to Wednesday, March 5, 2025.
Sokoman will be exhibiting at Booth No. 2432 at the Investors Exchange in the South Building.
President and CEO Timothy Froude, P.Geo., said, "We're excited to be back at PDAC, connecting with investors, industry professionals, and fellow explorers. This is a fantastic opportunity to highlight Sokoman's progress and discuss the exciting potential of our projects in Newfoundland. We invite attendees to visit our booth and meet with our management team to learn more about what's ahead for Sokoman Minerals."
Technology
On February 24, 2025, Visionstate Corp. (TSXV: VIS) announced the opening of a new office in Seattle, Washington, marking a significant step in the company's expansion into the U.S. market. This new location will serve as a strategic hub to grow the adoption of Visionstate’s WANDA™ technology, a data-driven facility management solution that enhances operational efficiency and hygiene compliance.
Seattle is a renowned tech hub with a thriving innovation ecosystem, making it an ideal location for Visionstate’s expansion. Its proximity to Edmonton also provides logistical advantages, allowing seamless coordination between the company’s headquarters and U.S. operations. The physical presence in the U.S.reinforces the commitment to scaling operations and securing new business opportunities in a key market.The company remains fully prepared to proceed with a U.S. listing and has been closely monitoring market developments to determine the optimal timing for its launch. Shannon Moore, President of Visionstate, said, “The U.S. represents a major growth opportunity for Visionstate, and having a dedicated office in Seattle strengthens our ability to engage with customers and partners directly. Establishing a local presence is a crucial step in expanding the reach of WANDA™ and ensuring that we can meet the evolving needs of our clients in this market and position Visionstate for long-term success.” Save the Date
The World’s Premier Mineral Exploration & Mining Convention. Only two days away!
Make sure to visit all of CHF’s Mining Exploration Clients:
CHF Capital Markets, CEO Cathy Hume will be part of an expert panel on capital markets during a short course at PDAC.
On Sunday, March 2, 2025, 8:30 AM to 12:30 PM – the panel itself will be from 9:45 to 10:30 AM in the Metro Toronto Convention Centre, room 717.
More info and registration:
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