Analysts' Ideas of the Week
One of our Top Picks has surged nearly 1,000% over the past year
ByFRC Analysts
Disclosure: Articles and research coverage are paid for and commissioned by issuers. See the bottom for other important disclosures, rating, and risk definitions, and specific information.
Highlights
*Disseminated on behalf of Zepp Health Corporation, Kidoz Inc., South Star Battery Metals, Monument Mining Limited, Olympia Financial Group, First Phosphate Corp., North Peak Resources, Trident Resources, Skyharbour Resources, Eskay Mining Corp., Enterprise Group, and Chilean Cobalt Corp. See the bottom of this report for other important disclosures.
Highlights:
We review the performance of our Top Picks, including a leading smartwatch maker whose shares rose 77% last week, and 996% YoY. Our latest Top Picks are up 47% on average over the past six months, compared to 21% for the benchmark. Over three years, our Top Picks have gained 23% on average, versus a 4% decline for the benchmark. We also provide important updates on companies under coverage, including phosphate, oil and gas services, gold, and uranium. Additionally, we offer a snapshot of two juniors we will be initiating coverage on soon - one gold, one cobalt-copper.
*Past performance is not indicative of future performance.
Updates on Resource Companies Under Coverage
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PR Title: Announces a non-brokered private placement of at least $1M to meet demand from an existing undisclosed investor
Analyst Opinion: Positive – PHOS is up 10% since we initiated coverage last month. The company is already in a strong cash position, having raised $8M through equity financings in the past six months. While advancing its advanced-stage Bégin-Lamarche phosphate project, PHOS is developing two downstream facilities: a) a 190 ktpa phosphoric acid plant using concentrates from Bégin-Lamarche, and b) a 10 ktpa iron phosphate plant, targeting 2026 operations (US$76M CAPEX, 10-year lease, techology partner secured). Both facilities will produce precursor material for LFP CAM. Last month, PHOS signed an agreement with Port Saguenay to secure land for its above-mentioned phosphoric acid plant, with construction anticipated to begin in 2028. The company aims to capitalize on the port’s strategic advantages, including direct rail and vessel access to global markets, along with access to extensive infrastructure and utilities.
North Peak Resources Ltd.
PR Title: Follow-up channel sampling reveals up to 180 g/t of gold, and 998 g/t and silver, at the Prospect Mountain Mine Complex in Nevada (QP: David Pym, CGeol., Consulting Geologist for NPR)
Analyst Opinion: Positive - NPR has confirmed multiple narrow high-grade zones from follow-up sampling in the Dean Cave complex at its Prospect Mountain property. These results point to structurally controlled mineralization within altered dolomite, which creates predictable pathways for mineral deposits to concentrate, making it easier to target drilling. A summer drill program is scheduled to begin in September, targeting multiple areas, including the newly sampled zone.
Trident Resources Corp.
PR Title: Options a property adjoining its Greywacke Gold project in the La Ronge Gold Belt.in Saskatchewan (QP: Cornell McDowell, P.Geo., VP Exploration, Trident Resources)
Analyst Opinion: Positive – The newly optioned property is at an early exploration stage, with several targets already identified. Trident can earn a 100% interest by issuing 50k shares, along with $240K in cash and exploration expenditures. The company’s portfolio consists of two gold projects (Contact Lake and Greywacke), and one copper project (Knife Lake), located in prolific mining regions in Saskatchewan, with relatively high-grade historical resources totaling 1.6 Moz AuEq (gold equivalent) at 1.2 g/t. Well-funded with $11M in working capital, the company is preparing to launch a drill program at Contact Lake.
Skyharbour Resources Ltd.
PR Title: Expands uranium exploration portfolio (Saskatchewan)
Analyst Opinion: Positive – SYH has staked 21 new prospective uranium exploration claims in northern Saskatchewan, increasing its total land position to 616,939 hectares across 37 projects—one of the largest portfolios among uranium juniors in the Athabasca Basin. The company is currently undertaking its largest-ever annual drill campaign at its two flagship projects: Russell Lake and Moore. Option partners are advancing their projects, with 15,000 to 16,000 m of drilling planned in addition to the programs at Russell and Moore Lake. Partners could commit up to $36M for exploration, and $34M in cash/share payments to SYH.
Eskay Mining Corp.
PR Title: Announces a $2M private placement (Share price: $0.35/MCAP: $65M)
Analyst Opinion: We are resuming coverage on Eskay, and have commenced our due diligence. We will be publishing a detailed report in the coming weeks. During our previous coverage (2018–2022), Eskay’s share price rose from $0.25 (MCAP: $27M at our January 2018 initiation) to $1.71 (MCAP: $301M at our July 2022 final report). Eskay is advancing its flagship Eskay Project in B.C.’s Golden Triangle, a region known for hosting some of the richest deposits in the world. The 52,600-hectare property contains multiple VMS prospects, including SIB-Lulu, TV-Jeff, C10, Vermillion, and Spearhead, and is contiguous with the past-producing, high-grade Eskay Creek Mine. It also borders Seabridge Gold’s (TSX: SEA) KSM gold-copper project, and Newmont’s (NYSE: NEM) Brucejack gold mine. VMS deposits typically occur in clusters, and when combined, can form large mining districts or camps. Canada hosts three major VMS camps: Flin Flon–Snow Lake (Saskatchewan/Manitoba), Bathurst (New Brunswick), and Noranda (Quebec). Eskay has yet to complete a resource estimate on any of its targets. Our upcoming report will aim to quantify and assign speculative estimates on select prospects to help the market better understand the company’s potential.
