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CHF WEEKLY ROUND-UP: October 6-10, 2025

October is traditionally a month of mixed emotions for investors. Today European shares were mixed in early trading, while Asian shares mostly fell overnight, taking a respite from Wall Street’s recent rally. Historically, it has been a tricky time for equity markets, often featuring fears of a “crash,” especially when a long run up to record highs has preceded it. However, the fourth quarter is also historically the best-performing period of the year for stocks, with an average gain of 4.2% since 1950. This trend suggests that stocks still have room to run, especially since the market has defied historical weakness in September, flashing a bullish signal for investors.


The TSX has been up and down recently as commodity (Gold and Oil) prices moved. The down day on Thursday might just be followed by a new high today. The Venture exchange has followed a similar path, as it approaches highs not seen in four years. Prime Minister Carney went to Washington this week to meet with U.S. President Trump, hoping that movement on at least steel and aluminum tariffs could happen. No agreement resulted, but apparently, both leaders directed their teams to move quickly on sector-specific trade deals, starting with steel, aluminum, and energy and to hold further meetings. In preparation for the meeting President Trump said Monday that all medium and heavy-duty trucks imported into the United States will face a 25% tariff rate starting November 1. Canada and Mexico are clear targets of this tariff. The U.S. seems to be setting up the outcome it wants from the renegotiation of the three-nation free trade agreement in advance. BMO analysts said that even the most optimistic scenario of tariffs staying at the roughly 7% level could mean a 1.5% drop in long-term GDP, and that higher tariffs could bring recession and severely limit long-term growth in Canada.


It is nine days into the shutdown of the U.S. Government, and no resolution is apparent, but the two sides are still talking. The resulting uncertainty is beginning to create jitters in the markets. Some global investors are rotating into non-U.S. “value” stocks, believing that stretched U.S. valuations, rising fiscal strains, and weakening cash-flow forecasts make American equities look less attractive. Bond rates are jumpy causing the U.S. dollar (USD) to rise in value against world currencies. S&P 500 and NASDAQ both made two new all-time highs this week. Bears are starting to emerge, warning of a crash and reminding people of the “Dot-Com bubble”. It is possible, but the current market seems to be driven fundamental growth rather than irrational speculation. Bear markets do not often start at all-time highs. The last leg of a Bull market often yields half the total gains, and the buy-the-dips rule remains in effect. The futures for the S&P 500 and the Dow Jones Industrial Average were both up less than 0.1% this morning.


The uncertainty caused by the U.S. Government shutdown drove the Gold price over USD$4,000/oz on Wednesday, but ran into resistance at USD$4,060/oz and then fell on Thursday to a low of USD$3,945/oz. Gold opens this morning at USD $3,988.70/oz.  Gold Bears are calling for a correction to between USD$3,700/oz and USD$3,850/oz. The seasonal trend is up from now into the spring. Demand is real, not just speculation, it remains too strong, and it will quickly drive the price back up, buy that dip. B2Gold’s Goose mine, in Nunavut, has officially reached commercial production three months after making its first pour. Silver broke USD$50/oz and topped above USD$51/oz twice on Thursday before falling back to USD$49/oz. Silver is opening at USD $50.05/oz today. 


Copper spiked along with the precious metals, reaching USD$5.19/lb at one point on Thursday before settling back to USD$5.07/lb at the end of the day. No movement was seen in the other base and industrial metals.


The Government of Canada announced more than $22 million in funding to support eight projects aimed at accelerating battery innovation and expanding domestic production capacity through its Energy Innovation Program. China dramatically expanded its rare earths export controls on Thursday, adding five new elements and extra scrutiny for semiconductor users as Beijing tightens control over the sector. The need to develop a domestic Canadian battery material supply chain is greater than ever to prevent the technologies from going to China or the battery entrepreneurs from heading for U.S. tech centres and greater financing opportunities.


Best wishes to Canadian readers as we break to be with family for the Thanksgiving Day long weekend. Canadian Markets will be closed on Monday.


We are pleased to present our round-up of client news released between October 6 and 10, 2025. 


Mining



All the nominee directors listed in Nuinsco’s management information circular were elected as directors. 


Shareholders voted in favour of:

  • re-appointing Horizon Assurance LLP, as the auditor of the Company

  • passing a special resolution authorizing the board of directors to consolidate the common shares of the Company at a ratio of up to twenty-five (25)

  • approving all unallocated options, rights, and other entitlements under the Company’s stock option plan

  • approving all unallocated rights and other entitlements under the Company’s share incentive plan


On October 7, 2025, Athena Gold Corporation (CSE: ATHA) (OTCQB: AHNRF) announced the commencement of drilling at its 100%-owned Excelsior Springs project in Nevada. The drilling is fully funded by Mammoth Minerals Limited (formerly Firetail Resources Limited), under its option agreement to earn an 80% interest in the project over five years, providing Athena a free-carry to Definitive Feasibility Study thereafter.


Highlights

  • First-ever diamond drilling campaign at the Excelsior Springs project in Nevada

  • A second diamond drill rig is expected to arrive on site in the near-term

  • Drilling will follow up on significant previous intersections

  • Metallurgical testing on the diamond drill core will be undertaken to understand the leaching characteristics to provide a processing pathway and metal recoveries

  • Geotechnical logging will be completed to assist with future development studies

  • Channel sampling completed recently across the Blue Dick Underground Mine

  • Property-wide magnetics and LIDAR survey commenced across the Excelsior Project

ree


  1. 6,750,000 units at an issue price of CAD$0.05 per Unit, with each Unit comprised of one common share of the Company and one-half of one common share purchase warrant (“Warrant”)

  2. 3,320,000 Common Shares that qualify as “flow-through shares” (“FT Shares”) at an issue price of CAD$0.05 per FT Share

  3. In total, each Warrant entitles the holder thereof to acquire one additional Common Share, to be issued on a non-flow-through basis, at an exercise price of CAD$0.10 until October 7, 2028, but subject to accelerated expiry terms following the expiry of the four-month and a day hold period (February 8, 2026).


The Company has sold and issued an aggregate of 31,530,000 Units and 18,470,000 FT Shares for aggregate gross proceeds of $2.5 million pursuant to the full Offering.


Ken Lapierre, President and CEO of the Company, commented, “We thank all those new investors and existing shareholders that supported the Company’s vision. Funds are now in place to continue our ongoing exploration at our Gold Anchor Project, which includes a drill program at the Lane Pond Gold Target. The Lane Pond Gold Target is strategically associated within the prolific Appleton Fault Corridor and has never been drill tested. The Appleton Fault is known to host gold resources and high-grade gold discoveries on the adjoining project to the northeast of Gold Anchor.”


On October 8, 2025, Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) announced that it has secured the right to acquire mineral licenses covering 41,150 hectares along the Valentine Lake Fault, which also hosts Canada's newest producing gold mine operated by Equinox Gold Corp. The acquisition will position Sokoman as the largest landholder by strike length and area along the highly prospective regional fault system.


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Highlights

  • The Company's mineral license holdings along the Valentine Lake Fault will expand to over 65 km of strike length and an area totalling 58,775 hectares. With two separate claim acquisition agreements and staking, the Company has transformed Moosehead, and Crippleback into the Treasure Island Project

  • Adding more than double the prospective strike length while tripling the area of its mineral licenses

  • The Valentine Gold Mine is geologically situated along the Valentine Lake Fault zone. Equinox Gold Corp. started processing ore in August 2025, with the first gold poured in Q3 2025

  • The Treasure Island Project contains the largest mineral license package and longest strike length along the Valentine Lake Fault and positions Sokoman as the dominant explorer along strike of the Valentine Gold Mine

  • The 100%-owned Treasure Island Project will be host to the most advanced gold zone outside of the Valentine Gold Mine at the Moosehead Zone, which has over 135,000 m of drilling completed to date

  • Outside of the Moosehead Zone, limited exploration and drilling has occurred along the remaining 63 km of the Treasure Island Project, which remains open for discovery


On October 8, 2025, Sokoman Minerals (TSXV: SIC) (OTCQB: SICNF) was featured by noted mining commentator Allan Barry Laboucan on his Rocks and Stocks News program as he discussed the transformative change that has occurred for Sokoman now that newly appointed CEO Denis Laviolette is driving the company forward.




The Offering will consist of:

  1. 53,000,000 common shares of the Company at a price of CAD$0.19 per Common Share for aggregate gross proceeds of C$10,070,000

  2. 53,000,000 common shares of the Company that will qualify as “flow-through shares” (“FT Share”) at a price of CAD$0.265 per FT Share for aggregate gross proceeds of CAD$14,045,000


The Company also announced that it has secured the commitment of Eric Sprott, an existing major shareholder, to participate in the Offering.


Fintech



Q1-2025 Key Financial Figures

  • Total Revenue of $179.16 thousand

  • Net Loss of $3.37 million

  • Cash flow from operations of -$1.21 million

Q2-2025 Key Financial Figures

  • Total Revenue of $433.57 thousand

  • Net Loss of $1.84 million

  • Cash flow from operations of -$828.93 thousand

 

On October 8, 2025, Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) announced that it filed an application to revoke the cease trade order (CTO) issued on the Company's securities by the Ontario Securities Commission. The Company's application is currently being processed, and no timetable was given for the completion of the process. The Company plans to issue a news release once the CTO has been revoked, after which the Company intends to apply for reinstatement of trading of its securities on the Canadian Securities Exchange.

 
 
 

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