Defensive Wins Amid Turmoil: Market Insights & Hidden Opportunities

*Disseminated on behalf of Noram Lithium, Olympia Financial, Lake Resources, Atrium Mortgage, Builders Capital, Brookside Energy, WHY Resources, Renforth Resources, and Tartisan Nickel.

* All figures are in C$ unless otherwise noted, except for commodity prices, which are in US$.

In this edition, we review the performance of our two portfolios – FRC Top Picks and Fair Value Model Picks. Consumer Defensive and Energy delivered relatively strong performance, while Basic Materials, Technology, and Real Estate lagged, amid rising tensions in the Middle East. Ongoing geopolitical instability, and elevated energy prices, have heightened concerns about slower economic growth, and weaker consumer demand. We expect markets to remain volatile next week due to ongoing conflict uncertainty, reinforcing the value of defensive positions. That said, any positive news regarding easing tensions could trigger a sharp rebound in beaten-down sectors, particularly Basic Materials.

We also cover material developments from companies under our coverage, including juniors targeting nickel, copper, magnesium, and other critical minerals. Additionally, we are introducing an ASX-listed U.S.-based oil and gas producer that appears undervalued across all key metrics.