CHF WEEKLY ROUNDUP: Sept. 28 - Oct. 2, 2026

September has ended, and with overnight lows expected to be in single digits this weekend in Ontario, frost is approaching the pumpkins. 

During the past month, global markets have mostly been on the losing side. September losses on European markets were sharp, as bond yields saw a significant jump and major indices were all in the red: (DAX -5.02%, CAC -5.99%, FTSE -3.66%). October has long been associated with some of the most dramatic moments in stock market history, from the crash of 1929 to Black Monday in 1987. The historical record, however, is far less ominous. October has historically lived up to its reputation for high volatility more than it has for poor returns. But higher volatility does not necessarily translate into negative returns. During the past quarter-century, both the U.S. S&P 500 and the TSX Composite have, more often than not, finished October higher. To open the month, Asian stocks were mixed, and European shares edged higher as global bonds sold off, pushing yields up.

The TSX Composite fell 3.16% in September, while the Venture Exchange fell 10.65%. Sales are noted in TSX-60-index-listed shares that would normally be considered long-term hold issuers. Foreign investors have been selling Government of Canada bonds, pushing the 10-year yield to 3.95%. Cash appears to be moving into higher yields in U.S. Treasuries and into still-booming AI/Tech shares. Look to acquire in commodity-based sectors where operators are highly profitable as these sellers move out.

The Canadian dollar fell 2.85% against the U.S. dollar (USD) throughout the month. The Bank of Canada has held its benchmark interest rate at 2.25% since last October as it gauges how the U.S. trade dispute and war in Iran are affecting its outlook. The central bank will issue updated forecasts for the economy and inflation at its next interest rate decision on October 28. Financial markets have increasingly shifted toward expectations of rate hikes in response to high oil prices that may drive persistent inflation. Mortgage rates have already risen, making renewals difficult as house prices continue to slide in major Canadian markets, and the government’s housing strategy focuses on rental projects while new-build housing starts decline.

U.S. markets had a mixed month in September: the S&P 500 fell 0.36%, and the Dow fell 4.35%, while the NASDAQ gained 2.05%, including a new all-time high on September 22nd, underscoring AI's market leadership. The AI buildout still appears to have plenty of runway as data-centre hyperscalers continued to increase infrastructure spending. The USD has risen against global currencies, up 3.95% year-to-date, and up 2.71% in September. On Wall Street, stocks benefiting from the artificial-intelligence boom helped lead the way. The probability of the Federal Reserve (Fed) hiking benchmark interest rates by another 25 basis points at the end of this month has reached nearly 70%, even though a rate increase six days before the midterm elections would be unheard of. Neither the oil price nor government deficit spending will respond to a rate increase. Raising interest rates now could worsen an already looming economic slowdown and lead to stagflation, as the oil supply shock allows inflation to persist.

Gold opened today at USD$4,185.80/oz, looking to gain a foothold above USD$4,200.00/oz. Silver opens at USD$61.30/oz, trying to establish some support at USD$62.00/oz.  Expectations of the next Fed rate move are hampering rising precious metal prices. Gold and gold shares are easy to sell as investors chase what looks like attractive yield in Treasuries. This is a reminder that a bond is a liability, and its value depends not just on the interest rate, but on whether the issuer can and will pay you back. Gold is nobody's liability and does not depend on goodwill from any central bank or government. At current prices, the producers are highly profitable yet get sold every day; look for the buying opportunities.

Copper prices opened at USD$6.60/lb and, by the end of September, posted the third monthly gain in a row, supported by improving factory activity in China and ongoing tightness. All-time highs near USD$6.80/lb were recorded last month. Cobalt prices at USD$17.75/lb continued to slacken through September. Lithium prices at USD$18.31/kg are nearing a year-low after inventories in China were found to be much higher than expected. Uranium prices held in a tight range just below USD$90.00/lb last month. Look for opportunities in commodity-based issuers, producers and those with advancing projects that are being targeted for acquisition.

We are pleased to present our roundup of client news for the period from September 28 – October 2, 2026.

Mining

On September 29, 2026, Rocky Shore Gold Ltd. (CSE: RSG) (OTCQB: RSGLF)   announced that, through a wholly-owned subsidiary, it has completed the previously announced purchase agreement for the acquisition of the Springdale Property and made the first option payment due under the Handcamp Option Agreement. 

Under the Springdale Property Purchase Agreement, the Company made a cash payment of $30,000 and issued 285,000 common shares to the vendors. Rocky Shore, through its wholly-owned subsidiary, shall also have a right of first refusal over such NSR royalty. Under the Handcamp Option Agreement, the Company made an initial payment consisting of $150,000 in cash and issued to the optionor an aggregate of 1,360,544 common shares.

On Oct. 01, 2026, Pirate Gold Corp. (TSXV: YARR) (OTCQB: YARRF) announced that it has entered into an engagement letter with Canaccord Genuity Corp. pursuant to which Canaccord Genuity and a syndicate of agents will act as agents in connection with a “best efforts” private placement by the Company for aggregate gross proceeds of up to approximately $15,000,000. The Offering is expected to close on or about October 22, 2026, and will include a combination of:

1. Flow-through common shares of the Company at a price of $0.215 per FT Share, and

2. Special flow-through common shares of the Company at a price of $0.2475 per Special FT Share

   
   

All FT Shares and Special FT Shares will qualify as a “flow-through shares” and are subject to a hold period of four months and one day from the closing date of the Offering. The gross proceeds received from the sale of the FT Shares and the Special FT Shares will be used to incur eligible “Canadian exploration expenses” on the Treasure Island Project.

Pirate Gold Corp. - Michael McCrae of Mining Stock Daily interviewed CEO Denis Laviolette after Pirate Gold reported results from the first step-out drilling at its Moby Dick copper-gold porphyry and high-sulphidation epithermal discovery at Crippleback Lake. Listen to it here. 

Pirate Gold Corp. has launched a brand-new website and investor deck, charting the full Treasure Island story from its district-scale land position to the latest exploration work unfolding along Newfoundland’s gold-rich Valentine Lake Fault. Explore the site and download the latest presentation: https://www.pirategold.ca/

Fintech

On October 1, 2026, Tenet Fintech Group Inc. (CSE: PKK) (OTCID: PKKFF) (FSE: P0T) announced that New York-based commercial lender Premium Merchant Funding ("PMF") has signed on to be the first commercial lender on the Business Hub exclusively dedicated to lending and extending credit to U.S. based small and medium-sized enterprises. PMF (https://www.pmfus.com) is headquartered in New York City, with satellite offices in several U.S. cities and the ability to make commercial loans in every U.S. state. It has a network of more than 500 funding specialists, 15 funding options ranging from merchant cash advances to term loans, and unsecured loan amounts of up to USD$20M.