Adtech Stock Soars 47% in a Week on Record Revenue; Maiden Resource Estimates & Promising Drill Results
Published: 3/3/2025
Author: FRC Analysts

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In this edition, we analyze the performance of our top picks, including an Adtech company, whose shares rose 47% last week. We also discuss promising developments from other companies under coverage, including maiden resource estimates from copper juniors, encouraging drill results, and significant financings.
In This Issue
- Gain insights into companies under coverage that experienced significant developments last week, along with our analysts' commentary and actionable takeaways.
- FRC top picks and standout performers from the past week
DLP Resources Inc. (DLPRF, DLP)
PR Title: Announces a maiden resource estimate for the Aurora copper-molybdenum-silver project in Peru
Analyst Opinion: Positive – DLP has outlined a large inferred resource of 10.2 Blbs CuEq at 0.44%. We are pleased with this estimate, as it exceeds the upper end of our preliminary forecast of 9.7 Blbs, as noted in our November 2024 report. We see further resource expansion potential, with mineralization remaining open in multiple directions. We will release an update shortly. DLP is up 50% since our initiating report in November 2024.
Golden Arrow Resources Corporation (GARWF, GRG.V)
PR Title: Announces an initial resource estimate for the San Pietro copper-gold-iron-cobalt project in Chile
Analyst Opinion: Positive – GRG has outlined a substantial inferred resource of 4.4 Blbs CuEq at 0.41%. We are extremely impressed by the company's ability to define such a large resource in its maiden resource estimate. We see potential for further resource expansion, as the current estimate only includes two of four targets. The next phase of drilling will focus on identifying higher-grade zones within the resource area. We will release an update shortly, introducing our fair value estimate, which we had not previously provided due to the early-stage nature of the company’s projects.
North Peak Resources Ltd. (BTLLF, NPR.V)
PR Title: Announces a private placement of up to $6.9M
Analyst Opinion: Positive – Proceeds will be used to fund exploration, as well as working capital. NPR is advancing the Prospect Mountain Mine Complex (MMC) project in Nevada, a historic gold-silver-lead producer in the Eureka mining district. The project borders i-80 Gold’s (TSX: IAU) Ruby Hill project, which hosts a significant gold-silver resource. NPR’s objective is to keep drilling, test all key targets, and potentially delineate a multimillion-ounce resource that would appeal to larger players considering M&A.
Loncor Gold Inc. (LN.TO, LONCF)
PR Title: Initial results of an ongoing drill program from the Adumbi deposit at its Imbo project in the DRC
Analyst Opinion: Positive – An ongoing resource expansion drill program has intersected multiple high-grade intervals, including 22.6 m of 4.77 g/t Au, and 16.1 m of 5.82 g/t. The latest hole intersected mineralization 75 m below the previously outlined pit shell, suggesting potential for resource expansion at depth. Adumbi, which hosts 3.7 Moz of gold, is located 220 km from Barrick’s (TSX: ABX) Kibali mine, one of Africa's largest gold mines.
Doubleview Gold Corp. (DBLVF, DBG.V)
PR Title: Reports high-grade drill results from the Hat project in B.C.
Analyst Opinion: Positive – Drilling continues to yield high-grade intercepts over long intervals, including 107 m of 1% Cu, and 0.46 g/t Au, as well as 82 m of 0.95% Cu, and 0.79 g/t Au, highlighting the potential for resource expansion with higher-grade materials. The Hat project hosts an open-pittable, polymetallic porphyry deposit with resources totaling 5 Bls of CuEq, uniquely enriched with scandium and cobalt. DBG is up 64% since our previous report in December 2024.
Equity Metals Corporation (EQMEF, EQTY.V)
PR Title: Reports high-grade grab samples from the Arlington gold project in B.C.
Analyst Opinion: Positive – Surface sampling at the newly acquired Arlington gold project returned high gold grades of up to 41.8 g/t. The company has identified an 800 m x 800 m target on the property. Arlington, prospective for gold, copper, and silver, is located 60 km north of the Buckhorn mine, which was previously operated by Kinross (TSX: K). The company’s flagship Silverqueen project, also in B.C., hosts 1.04 Moz of AuEq at 6.2 g/t.
Western Exploration Inc. (WEX.V, WEXPF)
PR Title: Defines a new exploration target in the Wood Gulch-Gravel Creek area of the Aura project in Nevada
Analyst Opinion: Positive – WEX has identified a 3 km-long target located 1 km west of its Gravel Creek deposit. Last year, the company had identified another target 100 m east of Gravel Creek. These two targets offer potential for resource expansion. Gravel Creek, which hosts an underground, high-grade gold resource, is part of WEX’s Aura gold-silver project. Aura hosts three deposits - Gravel Creek, Doby George, and Wood Gulch - totaling over 1.3 Moz AuEq.
Canadian Critical Minerals Inc. (CCMI.V)
PR Title: Generated US$159k in revenue from the Bull River Mine (B.C) in January 2025
Analyst Opinion: Positive – Since early 2024, CCMI has been generating revenue through stockpile extraction at its Bull River copper-gold project in B.C. By January 2025, CCMI had shipped 6,670 tonnes, generating US$1.9M in revenue. Stockpile extraction will likely continue for another 12 to 15 months, potentially yielding another 10,000 tonnes, generating US$3M in revenue.
FRC Top Picks
The following table shows last week’s top five performers among our Top Picks. The top performer, Kidoz Inc. (TSXV: KIDZ), was up 47%, driven by record Q4-2024 revenue. KIDZ operates a leading kid-friendly Adtech platform.
* Past performance is not indicative of future performance (as of Mar 3, 2025)
FRC's Top Picks Portfolio vs TSXV Total Returns
Performance by Sector
1. Since the earliest initiating date of companies in the list of Top Picks (as of Mar 3, 2025)
2. Green (blue) indicates FRC's picks outperformed (underperformed) the benchmark.
3. Past performance is not indicative of future performance.