The Charts Of The Week: Ferraris, Prospectors, LSD, and Massive Bornite
A unique title, fitting of a wild week of market action.
It was a wild week out there across junior miners and small cap equities, the week included silver finishing the week at its 2nd highest weekly closing level in history.
Silver (Weekly)
January 1980 was the only time in history in which silver closed on a Friday afternoon at a higher level than it did today. Silver has also risen for 7 consecutive weeks—while some may be quick to emphasize that silver is extremely overbought and at risk of a sharp correction, I believe it’s just as important to note that silver spent the majority of the last year in a sideways consolidation oscillating between $28/oz and $35/oz.
While silver has been in an uptrend in 2025, the current upside acceleration phase is still relatively young.
At this point, the $50/oz long term resistance level is acting like a magnet. The market is strongly attracted to this level that represents the 1980 and 2011 highs; It’s far less a question of whether silver breaks the $50 mark, and far more a question of what the price path will look like post-breakout. A failed breakout—and the f*ckery that could follow—is certainly on the table.
Meanwhile, a couple of charts from Bank of America caught my attention:
Remember when Bessent stated that Trump 2.0 is focused on the economic well-being of “Main Street'“, not Wall Street?
Yeah, I remember that too.
So far, it looks like Wall Street can’t stop winning. Meanwhile, Main Street is arguably suffering more than ever before.
Stagflationary vibes in the latest ISM manufacturing survey.
Meanwhile, President Trump reiterated that his administration is committed to growth and the U.S. must “grow its way out of the debt”. This means that inflation is their least concern, the labor market and growth are at the forefront.
US investors have gotten the message and decided that they need to own equities and precious metals to help shield themselves from the looming financial repression:
Americans have never had more stock market exposure than they do today. Unfortunately, the vast majority of Americans don’t have enough savings to possibly hedge themselves from what is coming.
The Trump Administration has begun taking equity stakes in US mining companies, with the latest example being Lithium Americas (NYSE:LAC).
LAC (Daily)
The deal isn’t finalized but reports have emerged that the U.S. government (via the Department of Energy) would acquire a 5% equity stake in both Lithium Americas and its Thacker Pass joint venture. Lithium Americas confirmed it is in active discussions with the DOE and its joint‐venture partner GM about the first draw on the DOE loan (US$2.26 billion) and associated conditions. This kind of federal support is viewed by investors as a way to de-risk the project and signals strong political commitment.
The 200%+ rally in LAC shares demonstrates just how much weight the market places in federal government ownership of critical minerals projects, and mining companies. There are sure to be more of these deals announced over the coming months, and shrewd investors are already trying to figure out which projects/companies are next.
The medical psychedelics/brain health biotech sub-sector is performing well, led by MindMed (Nasdaq:MNMD) and Compass Pathways (Nasdaq:CMPS) breaking out to 52-week highs last week.
MNMD (Weekly)
In particular, the MNMD breakout is a thing of beauty, catalyzed by ~15% short interest in the name. In its Q2 2025 earnings and business update, MindMed highlighted that strong enrollment continues in all three Phase 3 trials of its MM120 (LSD) orally disintegrating tablet for generalized anxiety disorder (GAD).
We’ll conclude by discussing a couple of new discovery stories in the junior mining sector, and one hybrid explorer that hopes to make the next big Nevada gold/silver discovery.
Prospector Metals (TSX-V:PPP) certainly grabbed the market’s full attention with Wednesday morning’s discovery news from the Yukon:
PPP.V (Daily)
Prospector announced that hole ML25-31 intersected 13.79 g/t Au and 1.84% Cu over 44 meters, including a higher-grade interval of 21.93 g/t Au over 24.65 meters. The company noted that the new “TESS” Zone is steeply-dipping and remains open along trend and at depth. The host structure has been traced on surface for at least 500 meters, and numerous additional high-priority drill targets have been identified in the immediate vicinity.
Jodie Gibson P.Geo., Vice President of Exploration added “The high grade gold and copper mineralization on the Tess is a new and very unique style of reduced intrusion related gold mineralization (RIRGS) and demonstrates the potential for very high-grade mineralization on the margins of these systems outside of ‘typical’ intrusive host rocks. At ML, our exploration to date, combined with assessment of historic data, indicate multiple target areas with a similar geologic, structural, and geochemical setting as the Tess-North Vein area.”
Prospector is definitely one to watch closely.
It’s really amazing how 2024 couldn’t have been much worse of a year for the Yukon gold mining industry, and now 2025 is like the gift that keeps on giving for Yukon gold explorers. What a difference a year makes!
Sterling Metals (TSX-V:SAG) delivered a very high-grade copper & gold intercept from its Mid Continent Rift copper project in Ontario. For a few moments early in the week SAG shares were up more than 200%!
SAG.V (Daily)
Profit-taking kicked in and I imagine that some $.40 warrants started to get exercised. I’ll be fascinated to see how SAG follows up on the MEPS-25-02 discovery hole (9.15 meters grading 6.80% copper, 13.20 g/t gold, and 46.3 g/t silver).
I spoke with Sterling Metals CEO Mat Wilson to get the full update from the company:
As Wilson says, “The Mid Continent Rift gives”. I couldn’t agree more.
Last but definitely not least, Ridgeline Minerals (TSX-V:RDG, OTC:RDGMF) is in the midst of two high-impact partner-funded drill programs at its Nevada flagship projects (Swift and Selena).
RDG.V (Monthly)
I love situations where the fundamentals and technicals begin to align; Ridgeline could be one of these situations with hole #2 at Chinchilla Sulfide well underway at the Selena CRD Project, and Nevada Gold Mines (NGM) carrying out a fully-funded 3-5 deep diamond drill hole campaign at the Swift Project (Fourmile analog) in the Carlin Trend.
The month of October is still young, but RDG is poised to confirm an important monthly chart pattern breakout—next resistance levels are at $.30 then $.36.
I also spoke with Ridgeline CEO Chad Peters last week, and ended up coming away from the conversation encouraged enough that I bought more RDG shares.
Disclosure: Author owns PPP.V RDG.V shares at the time of publishing and may choose to buy or sell at any time without notice.
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