Promising Drill Results, Sleep Gummy Launch, and Biotech Advancements
Published: 3/17/2025
Author: FRC Analysts

In this edition, we analyze the performance of our top picks, including a potash junior, whose shares rose 42% last week. Additionally, we highlight key updates from other resource companies, as well as biotech and healthcare companies under our coverage.
Highlights:
- 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
Updates on Resource Companies Under Coverage
Aton Resources Inc. (ANLBF, AAN.V)
PR Title: Reports further results from the Abu Marawat diamond drilling program (Egypt)
Analyst Opinion: Positive – Twenty six out of the 31 drillholes, located along the southern and eastern margins of the current resource estimate, returned significant high-grade polymetallic intercepts, including 27.6 m of 4.15 g/t AuEq, 16.9 m of 5.29 g/t, and 3.8 m of 8.15 g/t. Aton is advancing multiple gold projects in Egypt, with NI 43-101 compliant resources totaling 0.83 Moz AuEq across two projects.
Grid Metals Corp. (GRDM.V, MSMGF)
PR Title: Cesium project updates (Manitoba)
Analyst Opinion: Positive – Initial results from a cesium exploration drill program at the Donner lithium-cesium project have confirmed that a high-grade dyke extends for at least 150 m along strike, and over 100 m at depth. The company is awaiting assay results. GRDM is planning a cesium exploration program at its Falcon West lithium-cesium project as well. Cesium, classified as a critical mineral by both the U.S. and Canada, is vital for high-temperature drilling fluids, with numerous high-tech and industrial applications.
Silver Dollar Resources Inc. (SLVDF, SLV.CN)
PR Title: Drill results from the Ranger-Page project (Idaho)
Analyst Opinion: Positive – A recently completed drill program at two geophysical targets confirmed near-surface mineralization, with bonanza grades of up to 17.4 opt AgEq, and 18.7 opt. This drill-ready project hosts six historic mines, which have produced over 1.1 Blbs of zinc and lead, and 14.6 Moz of silver.
Updates on Financials, Technology, Energy, and Special Situations Companies Under Coverage
Delivra Health Brands Inc./ TSXV: DHB
PR Title: Launches a six-count sleep gummies product into the Canadian market
FRC Opinion: Positive - This product launch (primarily targeting travelers) builds on the positive reception of DHB's 60-count Dream Water® Gummies, launched in Canada in 2024. The new product will be available nationwide through established retail and e-commerce partners. We note that the 60-count product has received favorable reviews, and strong ratings, on Amazon (NASDAQ: AMZN).
Q2-FY2025 (ended December 2024) revenue was up 34% YoY. We believe FY2025 revenue will be driven by organic growth and new products like Dream Water Sleep Gummies and Dream Water Immunity Shots, supported by increasing awareness of sleep’s role in physical and mental health. DHB is trading at just 0.25x revenue, while comparable Personal Care companies trade at 1.20x on average, a 79% discount.
NurExone Biologic Inc./TSXV: NRX
PR Title: Positive preclinical studies
Positive - NRX has completed another preclinical study to support its application for an Investigational New Drug (IND) designation, a necessary step before initiating human clinical trials, for its ExoPTEN treatment for acute spinal cord injury (SCI). ExoPTEN has received orphan drug designation from the U.S. FDA, and the European Medicines Agency (EMA). The latest study showed that ExoPTEN treatment improved motor function and blood flow at the injury site, crucial for tissue healing and recovery. We note that there is currently no cure for SCI.
FRC Top Picks
The following table shows last week’s top five performers among our Top Picks. The top performer, Millennial Potash Corp. (TSXV: MLP), was up 42%. MLP is advancing a potash project in Gabon.
* Past performance is not indicative of future performance (as of Mar 17, 2025)
RC'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 17, 2025)
2. Green (blue) indicates FRC's picks outperformed (underperformed) the benchmark.
3. Past performance is not indicative of future performance.