CHF WEEKLY ROUND-UP: September 15-19, 2025

World shares were hesitant early this week as everybody waited for the U. S. Federal Reserve (Fed) to act on interest rates.   World markets were mixed following the minimum expected Fed rate cut, with most Asian stocks down and European (UK, France, Germany) indices were higher, while the TSX and Wall Street rose to more records.

Statistics Canada said on Tuesday that Canada’s consumer price index (CPI) ticked higher to 1.9% last month, from 1.7% in July. Monthly Canadian GDP for May of 2025 showed 1.2% growth compared to May 2024. Core inflation measures, which strip out more volatile items, have remained elevated, either at 3% or slightly above 3% for the past five months, at the upper end of the target.  On Wednesday, the Bank of Canada (BoC) announced a cut in the key lending rate by 25 basis points to 2.5%, the first time the central bank has lowered interest rates since March of this year. BoC Governor Tiff Macklem cited Canada’s softening labour market and removal of most retaliatory tariffs by Canada as reasons for the rate cut. Macklem was non-committal of future rate cuts, but the balance of risk suggests another 50 basis points of easing over the next six to eight months.  The uptrend in the TSX and Venture exchange has continued.

In the U.S., the Fed also announced a quarter-percentage-point cut, the first since late 2024, lowering the Fed’s benchmark interest rate to a range of 4% to 4.25%. Officials signalled the possibility of two more rate cuts this year.  Chair Powell said that “while there are signs that tariffs are starting to show up in consumer prices, a reasonable base case is that tariffs spur a one-time price shift rather than a more persistent inflationary effect. Inflation has moved up and remains somewhat elevated. Job gains have slowed, and the unemployment rate has edged up but remains low. Despite pressure to cut rates from President Donald Trump, Powell said the Fed will continue to work independently from politics. Markets followed a traditional pattern: “after a Fed decision, markets go down, then turn around”. S&P 500, NASDAQ, and Dow again made all-time highs at closing yesterday.  The U.S. dollar (USD) rose when the rate cut was not as great as some feared.

The gold price was jumpy early in the week in anticipation of the Fed rate cut going over USD $3,700/oz on Tuesday and Wednesday. While the price has moved lower, at USD$3,659.00/oz this morning, it is holding at its support level established over the last three weeks. The long-term historical trading pattern is down into the Fall and rising from September into the Spring. Look at any price weakness as a buying opportunity. Silver prices were at USD$41.95/oz at opening today.

We are pleased to present our round-up of news released between September 15 and 19, 2025. 

Mining

On September 16, 2025, Arya Resources Ltd. (TSXV: RBZ) provided an update on its ongoing drill program at the Wedge Lake Gold Project in Saskatchewan's La Ronge Gold Belt.  Arya's ongoing drill program has successfully intersected visible gold in the first holes drilled at the T-6 Zone. Drilling has since advanced in both the T-6 and Twin Zone target areas, continuing to return encouraging indications of gold mineralization.

Rasool Mohammad, CEO of Arya Resources, said, "The continuation of visible gold at the T-6 Zone, alongside strong sulphide intersections in the Twin Zone, provides further encouragement in this early stage of drilling at Wedge Lake. While assays will ultimately determine grade and significance, these visual results reinforce the potential of Wedge Lake as we continue to systematically advance the program."

On September 19, 2025, Rocky Shore Gold Ltd. (CSE: RSG) announced that, due to the high level of interest, it has increased the size of its previously announced non-brokered private placement to now raise aggregate gross proceeds of up to $2,500,000 through the sale of a combination of units (“ Units ”) at a price of $0.05 per Unit and common shares that qualify as “flow-through shares” (“FT Share”) at a price of $0.05 per FT Share. The other terms of the Offering remain unchanged from the Company’s news release dated August 11, 2025.

The proceeds from the Units issued under the Offering will be used for general corporate purposes. The proceeds from the FT Shares issued under the Offering will be used for the exploration and advancement of the Company’s Gold Anchor Project. The securities to be issued in connection with the Offering will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. The Company has obtained the approval of the CSE for an extension of the deadline for completing the Offering and intends to close a second and final tranche of the Offering as soon as possible, and in any event, on or before October 17, 2025.