Navigating Geopolitics, Finding Opportunity

*Disseminated on behalf of Atrium Mortgage Investment, Zepp Health Corporation, Millennial Potash, Enterprise Group, Giga Metals Corporation, Enterprise Group Inc., Olympia Financial Group, Skyharbour Resources Ltd., Nine Mile Metals Ltd., Focus Graphite Inc., Doubleview Gold Corp., Argo Gold Inc., and Blue Star Helium Limited.

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

Equity markets edged lower last week as escalating geopolitical tensions in the Middle East weighed on investor sentiment, despite softer-than-expected U.S. inflation data that pushed treasury yields and the US$ lower. Consumer cyclical, real estate, and energy led sector gains, while basic materials was the weakest-performing sector despite relatively stable metal prices.

Last week, our Top Picks portfolio returned -4.8% vs -5.1% for the benchmark (TSXV). Our picks have outperformed the benchmark across all seven tracked periods.

Last week, our Fair Value Model portfolio returned 0.7% vs -0.3% for the benchmark (NYSE Equal Sector Weight/EQL). Our picks have outperformed the benchmark in two of the four tracked time periods.

This edition features Argo Gold's undervalued producing oil asset, Blue Star Helium's transition to commercial production, encouraging project updates from Doubleview Gold, Focus Graphite, Skyharbour Resources, and Nine Mile Metals, Olympia Financial's earnings-accretive corporate restructuring, and Enterprise Group's expanding customer adoption. Read on for our take on why these developments matter. As geopolitical tensions continue to influence markets, we believe these developments present compelling opportunities.

*Past performance is not indicative of future performance.

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