Highlighting Success, Informing Strategies

The shifting landscape continues. Global financial markets remain unsettled as evolving trade negotiations under the current U.S. administration introduce fresh uncertainty. Canadian markets, in particular, have felt the impact, with over $35 billion in foreign capital withdrawn in Q1 2025 alone - a clear sign of declining international confidence. The trend underscores broader investor caution amid geopolitical tensions, shifting interest rate expectations, and ambiguous trade policies that continue to disrupt capital flows across North America. As investors reassess their strategies, this month's update builds on last month's IWG by highlighting one of Grove's new clients, Steepe & Co., an Investment Fund Manager offering alternative non-listed private funds - an increasingly relevant option for portfolio rebalancing in today's environment.

April 2025 has been a turbulent month for global financial markets. A major shift in American economic policy - reverberating across every jurisdiction - has forced investors worldwide to reassess risk, abandon old assumptions, and adopt new strategies. Industrials, technology, and consumer discretionary have been among the hardest hit, while alternative, defensive and safe haven assets such as gold have demonstrated notable resilience. In recognition of gold prices reaching all-time highs, IWG profiles gold and explores what this means for the markets and for investment in gold issuers.

As we roll through March, Q1 2025 has been jam-packed with mining M&A, geopolitical turmoil, and signs of an impending boom in the commodity sector. PDAC was buzzing and momentum in the space appears to be building. One major change coming in 2025 that will impact both investors and issuers is the significant shift at OTC Markets. This month, we discuss what these changes will look like with Chris King, Senior Vice President of Corporate Services at OTC Markets Group Inc.

We are back! We had plenty of changes at Grove during our IWG hiatus. Landing in our new office space at 372 Bay Street, adding new members and new clients to our team are just a few. We have been busy! This year we will take a fresh approach to our investing with Grove newsletter, so keep an eye out for new profiles and useful reads relevant to the industries that Grove services and the investors that support them. This month we check in on the progress of one of our IR clients, Benton Resources, who has dramatically expanded the strike length of their world class Copper Gold VMS project in Central Newfoundland