Analysts' Ideas of the Week: Zepp’s New Launch, South Star’s Mine Update, and Coverage Updates

Analysts’ Ideas of the Week

Zepp’s New Launch, South Star’s Mine Update, and Coverage Updates

Published: June 23, 2025

Author: FRC Analysts

*Articles and research coverage are paid for and commissioned by issuers. See the bottom and below for other important disclosures, rating, and risk definitions, and specific information.

Disseminated on behalf of South Star Battery Metals Corp., Homerun Resources Inc., Tartisan Nickel Corp., Zepp Health Corporation, Fortune Minerals Limited, Kidoz Inc., Enterprise Group Inc., and Panoro Minerals Ltd. See the bottom of this report for other important disclosures.

We review the performance of our Top Picks, including a cobalt-gold junior, whose shares rose 25% last week. We also highlight a new product launch by a smartwatch maker under coverage, along with key updates from graphite, silica, and nickel juniors.

Updates on Resource Companies Under Coverage

South Star Battery Metals Corp. (STSBF, STS.V)

PR Title: Provides updates on its Santa Cruz graphite mine in Brazil

Analyst Opinion: Positive – The Santa Cruz graphite mine has been selected to be part of the Brazilian government’s US$895M strategic minerals funding initiative, a program supporting critical mineral projects. This positions STS to access a wide range of potential funding, including grants, loans, and equity support for its expansion programs. Phase one operations are progressing well. The mine is permitted to produce up to 50 Kt of graphite concentrates annually. The first shipment of natural flake graphite concentrates was delivered in early June, to a North American client. Subsequent orders are currently being prepared.

Homerun Resources Inc. (HMR.V)

PR Title: Executes a binding term sheet with an undisclosed institutional investor for a $6 million equity financing

Analyst Opinion: Positive – HMR is focused on developing a silica processing plant, and a solar glass manufacturing facility in Brazil. The company aims to finish its feasibility study this year, and start production at the silica plant in 2026, followed by solar glass manufacturing in 2027.

Tartisan Nickel Corp. (TN.CN, TTSRF)

PR Title: Completes phase two construction of an all-season road to its Kenbridge nickel project (Ontario)

Analyst Opinion: Positive – A newly completed all-season road provides direct access to the Kenbridge project, significantly reducing exploration and logistics costs. TN has also secured approval for the Kenbridge Road Realignment Permit, enabling the start of phase three construction, critical for transporting large equipment and fuel to the site. Kenbridge hosts high-grade, open-pittable/underground class 1 nickel resources, essential for lithium-ion batteries. The company aims to complete a feasibility study in 2026.

Updates on Financials, Technology, Energy, and Special Situations Companies Under Coverage

Zepp Health Corporation (NYSE: ZEPP)

PR Title: Expands smartwatch lineup with affordable square-design Active 2 model

Analyst Opinion: Positive – Amazfit has launched the Active 2 Square, a sleek, square-shaped version of its popular Active 2 fitness smartwatch (originally released in early 2024), offering the same key features such as advanced health tracking, voice control, offline maps, and a 10-day battery life. This model is designed for users who prefer a smartwatch with a distinctive square display, without sacrificing performance or features.

Priced at US$149.99, it undercuts competitors like Apple (NASDAQ: AAPL) and Fitbit (NASDAQ: GOOGL), whose smartwatches typically range from US$250 to US$450, while delivering many comparable features at a more accessible price point. We note that general market reviews have been mostly positive, highlighting the watch’s strong value, features, and design, though some reviewers have noted that its app ecosystem is not as extensive as those of premium brands.

Zepp is the seventh-largest smartwatch maker globally by unit sales. Although global smartwatch shipments remained relatively flat YoY in Q1 2025, Zepp reported 25% growth in its self-branded products. We anticipate 16% YoY revenue growth for the company in 2025.

FRC Top Picks

The following table shows last week’s top five performers among our Top Picks. The top performer, Fortune Minerals Limited (TSX: FT), was up 25%. FT’s NICO project in the NWT hosts the largest primary cobalt deposit in North America, the world’s largest bismuth deposit, and 1.1 Moz of gold (Qualified Persons – Robin Goad, M.Sc., P.Geo., CEO of Fortune, and Alex Mezei, M.Sc., P.Eng. Fortune’s Chief Metallurgist). Cobalt prices have climbed 45% since February, following the Democratic Republic of the Congo’s decision to extend its temporary export halt—now in effect through September 2025. The ban, originally introduced earlier this year, aims to address oversupply and stabilize prices. While the market is expected to remain in surplus over the next two to three years, we remain optimistic about the long-term outlook, supported by robust global demand for electric vehicles (EVs), and energy storage.

Disclaimer

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