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FRC Top Picks

The following table shows last week’s top five performers among our Top Picks, including three junior resource companies, a fertilizer producer, and an Adtech company. The top performer, Contango Ore (NYSE: CTGO), was up 18.5%. CTGO and Kinross (NYSE: KGC) are advancing their Manh Choh project in Alaska to production next year. Our prior reports can be viewed here.

Companies on our Top Picks list are up 9% on average since we initiated coverage vs -40% for the benchmark (TSXV).

*Since the earliest initiating date of companies in the list of FRC’s Top Picks (as of November 20, 2023)

*Past performance is not indicative of future performance

1. Since the earliest initiating date of companies in the list of Top Picks (as of  November 20, 2023)

2. Green (blue) indicates FRC’s picks outperformed (underperformed) the benchmark.

3. Past performance is not indicative of future performance.

Our complete list of top picks (updated weekly) can be viewed here.

Weekly Mining Commentary

Last week, global equity markets were up 1.2% on average (up 1.1% in the previous week). Equities, and gold/silver prices rallied last week, driven by a weaker US$, amid sluggish U.S. retail sales and elevated jobless claims. With inflation subsiding, financial instability on the rise, mortgage costs increasing, unemployment climbing, and consumer confidence declining, we anticipate that the Fed, and the Bank of Canada, will initiate rate cuts within the next six months. Despite our positive outlook on gold and silver, we remain cautious about equity markets, anticipating potential downward pressure due to the uncertainty surrounding geopolitical tensions in the Middle East.

Weekly Crypto Commentary

Prices of mainstream/popular cryptos were up 2% on average last week (up 5% in the previous week).