*Disseminated on behalf of Enterprise Group, Energy Vault Holdings, Denarius Metals, TNR Gold, First Phosphate, Sonoro Gold, Chilean Cobalt, Bayhorse Silver, Focus Graphite, White Cliff Minerals, Namib Minerals, Kidoz Inc., Panoro Minerals, Millennial Potash, DLP Resources, and Lake Resources.

* 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: Last week, companies on our list were up 3.3% on average vs 2.9% for the TSXV. Visit the full list by sector.
• Fair Value Model Picks: Since the portfolio’s launch on February 9, 2026, our picks are up 1.4% on average, compared with a 1.1% decline for the benchmark (S&P 500). View the full list by sector.

*Past performance is not indicative of future performance.

Equity markets extended gains last week, supported by improving sentiment and optimism around a potential U.S.–Iran agreement. Seven out of ten sectors in our Fair Value Model Picks portfolio reported gains, led by Healthcare, Consumer Cyclical, and Industrials, as investors rotated into cyclical names, while Energy and Consumer Defensive underperformed. Despite growing market optimism, we remain cautious as there is no certainty that Middle East tensions will ease in the near term.

We also cover material developments across companies under our coverage, including Denarius Metals’ bid for junior Emerita Resources, and our views on the transaction, as well as royalty major Altius Minerals’ strategic investment in TNR Gold, a junior royalty company we cover, signalling potential M&A activity. In addition, we highlight key developments across junior names spanning gold, phosphate, rare earths, copper, silver, and graphite. We are also introducing Namib Minerals, a relatively new African gold producer, that we believe is trading at a ~49% discount.

Last Week’s Five Most-Read Reports

Report Type	Publication Date	Report Name
Enterprise Group Inc. - Update	Mar 18, 2026	High Oil Prices, Strong Metrics, Mispriced Shares
Market Intel Weekly	Apr 6, 2026	Ceasefire Talks Stir Rotation: Meet the Sector You Never Knew Was Vulnerable
Energy Vault Holdings Inc. - Update	Mar 19, 2026	2025 Beat, Robust Pipeline Growth & AI Energy Expansion
Denarius Metals Corp. - Update	Apr 7, 2026	Nears a Transformative Milestone: Approaching Commercial Gold Production
Market Intel Weekly	Feb 9, 2026	Under-the-Radar Stocks & the Launch of Our Curated Algo-Based Valuation Portfolio